In 1972, Idi Amin forcefully confiscated properties of the Asian community in what he dubbed “Africanization of the economy.”
However this resulted in the collapse of the industrial sector with subsequent scarcity of essential commodities such as sugar, soft drinks, beer, soap etc.
This resulted into smuggling of products to and from other countries.
The NRM government returned the Asian properties when it came into power which significantly restored investor confidence with overwhelming in flow of FDI.
This resulted in revitalization of industries and production of essential commodities in large quantities such as surplus sugar, soft drinks, beer, soap among others.
However, Professor Nuwagaba says that implementation of restoring Asian property came with significant controversy in many areas of the country.
There are still claimants who were allegedly compensated but still claim foul play in the transactions.
Others had allegedly been outrightly mishandled. This issue required sober dialogue particularly given that Uganda had planned to celebrate 50 years (Jubilee) of Departed Asians from Uganda (1972).
