Investors lose Shs180b in Rwanda border closure


Ugandan investors have lost about Shs180b since Rwanda closed its border with Uganda at Gatuna, the Private Sector Foundation-Uganda (PSF-U) has said. They also intend to petition President Museveni for intervention.

Mr Gideon Badagawa, the executive director of PSF-U, an umbrella body that brings together players in the private sector, said on average, Uganda would earn more than $200m (about Shs744b) annually from trade inflows with Rwanda through the Katuna border point and an average of $16m (about Shs60b) monthly.
But after the border closure, he said these earnings reduced from about Shs60b to an average of $2m (about Shs7.4b) monthly.
“We are losing business. Although politics is not losing, people are losing their jobs and this is going to be worse if this issue is not addressed,” Mr Badagawa said while addressing private investors in Kampala on Wednesday. 

He said he would call all the players to compile all the losses and make a collective memorandum which he will present to President Museveni to show the extent the border closure has hurt Ugandan businesses. 

Mr Badagawa said PSF-U will also contact their counterparts in Rwanda to make a similar memorandum and approach President Paul Kagame for intervention. 
He urged presidents of both countries to resolve the outstanding issues and allow resumption of normal bilateral business transactions.

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