President Museveni Urges Investors to Tap into Uganda’s Economic Potential
By The Public Lens
President Yoweri Museveni has called upon investors to seize the opportunities presented by Uganda’s economic potential and boost its exports.
“Uganda is rich in resources and ripe for investment,” President Museveni informed a delegation of investors from the American diaspora and other nations during a meeting at State Lodge, Nakasero.
The investors, led by Mr. Odrek Rwabwogo, Chairperson of the Presidential Advisory Committee on Exports and Industrial Development (PACEID), expressed interest in various sectors such as manufacturing, tourism, food and vegetables, crafts, coffee, banana flour, and vanilla.
Additionally, they discussed setting up a computer assembly plant in Uganda and positioning the country as a hub for technological manufacturing in the region.
President Museveni reflected on Africa’s historical struggles, tracing the continent’s exploitation by foreign powers over the past 600 years.
He emphasized that Africa’s subjugation was partly due to selfish leadership, which failed to unite Africans against colonial powers.
The President also highlighted the importance of production and market access for African prosperity.
“If Africans want prosperity, it comes from producing goods or services and selling them,” he asserted.
President Museveni stressed the need for African countries to access larger markets, warning that the fragmentation of the African market is a significant obstacle to sustained growth.
“The fragmentation of the African market is a big disaster,” he said.
Mr. Richard Blackwell, a Chicago-based entrepreneur, echoed President Museveni’s sentiments, emphasizing the importance of dignity and opportunity for black communities globally.
Blackwell shared his personal journey, growing up in a segregated neighborhood in Philadelphia, and highlighted historical figures like James Forten, who played a crucial role in the abolitionist movement.
He also drew inspiration from Booker T. Washington’s 1895 speech at the Atlanta Exposition, emphasizing the importance of black economic inclusion in America’s development.
Blackwell discussed the parallels between the economic models of other nations and the potential for African development, citing India’s economic transformation, which lifted millions out of poverty.
He underscored the importance of creating a data-driven industry in Africa, leveraging analytics to capture more value in global supply chains.
“We can build something powerful here, not just for Africa, but for the global stage,” Blackwell noted.
The meeting was attended by the Minister of Finance, Planning and Economic Development, Hon. Matia Kasaija.
