Museveni directs on foreign petty traders
President Museveni has stopped the licensing of foreign nationals dealing in petty business in Uganda.
In the central business district, especially in down town Kampala, it is a beehive of activity as petty foreign traders take control of business. But what catches one’s attention are the Chinese traders who dominate many shopping arcades.
They deal in a range os products including plastic shoes and hardware products. The traders have often clashed with the local business community amidst claims that they are favoured when it comes to taxes.
These foreigners came under a different brand, disguising as big investors. It is not clear how many of these abandon their big business plans and end up in petty trade.
But now President Museveni has spoken, directing those concerned not to renew their licenses.
This followed a meeting between the president and the parliamentary committee on Trade, Industry and Tourism last week.
Not renewing the licenses means that they will have to invest in bigger projects or ship out.
Yet as the storm appears to be calming down, some big international investors have cried out to the minister of Trade, Amelia Kyambadde about the financial fraud perpetuated by some local business people.
