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Conmen in Uganda cheat investors millions of dollars

18 February 2015, 21:37 Godfrey Olukya

Kampala - Unscrupulous people in Uganda have led to intending investors in the country  lose millions of US dollars after posing as investment authority workers and requesting for big sums of money.

They reportedly  ask for between 10,000 US dollars to 300,000 US dollars from investors so that they process documents meant to allow them  to operate in Uganda.

When the unsuspecting investor pays the money,the con men disappear.

''Most of the victims are Chinese investors.Over 20 cases of such kind have been reported to police by mostly Chinese investors.'' said police criminal investigations department officer  Habert Nulwa. 

Also read: Man electrocuted while peeing on a fence

The Executive director Uganda investment Authority Dr. Frank Sebowa has advised investors to always approach them as they come in the country for any business so as they are not trapped by the third parties who take a lot of money from them and deceive them that they can help them get investment license yet its given for free.

''We do not ask money for investment license.It is given free of charge and takes only to days to process.'' said Sebowa.

He advised the investors to always use the one stake center for the Uganda revenue authority at Namanve,in the outskirts of Kampala.

While speaking to the delegation from the united Arab emirates  led by  Reem  Al Hashimy ,Sebowa denied allegations that to do business in Uganda one has to first get a family in the country which is not even in Ugandans laws .


- MyNews24

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