2021-09-16
Investment In Post-pandemic Uganda: Reforming Finance Leasing For Capital Formation
Article by Kabazzi Maurice Lwanga
Abstract
Leasing is an important tool of economic development. Yet Uganda’s legislative or regulatory framework is still behind times. Since the advent of the Mortgage Act no. 9 of 2008 and the Securities in Movable Property Act 2019, the economic law related to leases has received little attention. This article argues for adoption of legislative or regulatory framework to guide the judges in decision making and increase Uganda’s competitiveness for investment to promote economic growth. Importantly, it highlights the considerations for a lease agreement as apart from hire purchase and loan facility, further illustrates the inconsistent jurisprudence on the obligation to pay future installments after the termination of the lease agreement. It concludes that Uganda lacks a competitive edge in the modern economic field due to lack of regulatory enforcement on capital-incentive-law via leasing.
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