Paul Matovu, the Director of Kaleeta Construction Company Limited, says it is high time the government took deliberate efforts to build the capacity of the local firms to reduce on profits and human resource repatriation by multinationals, which also haemorrhages the economy.
Details so far gathered by DIS and CID indicate that the money was moved from BOU to foreign banks in the month of September. Source said BOU after unearthing the criminal transactions and with the help of cyber experts from DIS, CID and NITA-U traced some of the money on foreign accounts and it contacted its counterparts and the accounts was frozen.
Construction of the 83-million-dollar substation was launched in 2020, aimed at reducing power outages in the Kigezi sub-region as well as powering the extraction of the Iron ore plant projected to be constructed in Rubanda district.
Jane Nalunga, the Executive Director of SEATINI Uganda, calls for a review of the kind of policies that are aimed at answering climate challenges and debt crises while attracting Investments. However, she says that unfortunately, available solutions and market policies are influenced by the private sector which then becomes too powerful to abide by national regulations.