By Stephen Kalema

Basil Ajer has refuted rumors of panic and instability at Uganda Investment Authority.

He also confirmed that he was to quit from the position of executive director at the authority.

Ajer assumed the office on June 26 after the board of directors suspended Jolly Kaguhangire due to corruption and nepotism.

He was previously the director of small and medium enterprises.

“I am resigning to go and try out other opportunities which is a normal culture. And my resignation does not have to cause any panic in the authority whatsoever,” he said on Thursday in Kampala during the first quarter of Investment Licenses review.

He added that he was willing to work with the board in the process of getting a new acting ED and help in the smooth transition before his departure.

And although UIA has experienced many challenges over two years, board chairman Emely Kugonza maintained that they are back on their feet and doing well.

Ajer handed in his resignation letter to Kugonza indicating that he will leave office on April 30, 2019.

“Time has come for me to explore new opportunities,” reads the letter copied to Finance Minister Matia Kasaija and Secretary to the Treasury Keith Muhakanizi. He also indicated that he will be taking his accumulated annual leave effective January 2, 2019, and offered to do his best to ensure “a smooth transition.”

The Authority is the limelight following bashing remarks by President last week while commissioning six new industries at Namanve.

According to Museveni, UIA cannot be an authority promoting investment but rather Uganda Investment Prevention Authority (UIPA).

“Why do you accept jobs yet you can’t manage them. Most Ugandans think when they are doing poor work they are harming me but you are breeding curses for your own families,” said an angry Museveni before urging them to stay in their homes if they can’t deliver as they ought to.

 “Stay in your comfort zones. They call themselves economists which type of economist sabotages investments in an economy?”