Better regulation could grow remittances – UEPB

June 22, 2016 in Business, Finance, Investment, Policy by Editor

KAMPALA, JUNE 22 – Uganda’s remittances could increase significantly, if labour exports were better regulated says the Uganda Export Promotions Board.

Although the Ministry of Labour licenses labor exporting companies, many gaps remain leaving most people without protection in the destination countries.

Updating the media on export promotion activities planned for fiscal 2016/17, UEPB Executive Director Elly Kamugisha said available statistics indicate a high potential for growth in remittances if there was better harmonisation of efforts to address the issues surrounding labor export companies.

“We just need to ensure that there are proper channels that people go

through to get employment. We will meet with the Ministry of Gender and the different service providers to propose better regulation of the labor service sector,” Kamugisha said arguing that this would result in better earning for Uganda’s expatriate labour.

Parliament temporality halted labour exports in 2015 after harrowing stories of abuse and inhumane treatment, especially from the Middle East and south East Asia emerged.

Uganda received $1.075 billion from remittance inflows in 2015. Projections

By the Ministry of Finance show that remittances will increase past

$9 billion by 2020.