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Harnessing Africa’s Potential: The Uganda Example

By
Guest Writer
-
President Museveni

By Yoweri Kaguta Museveni

I am pleased, to be part of the Africa Leadership Magazine Dialogue (ALM) 2020, in London. I wish to thank Dr. Ken Giami, the Chief Executive Officer of Africa Leadership Magazine, for inviting me to deliver a keynote address, on this important occasion. The topic: “Harnessing Africa’s Potential: The Uganda Example” has been central to my various efforts, for the last 60 years, as an active participant on the political scene of Africa’s journey to socio-economic transformation and in particular, Uganda.

I thank you for giving me the award for leadership.  Leadership, to succeed, must be collective. It is true, that for 60 years now, I have been in leadership roles as a student leader (1960-70), a resistance leader (1971-86) and a State leader from 1986 upto today.  In all those 60 years, one of my primary tasks was to transform the traditional life-style of the Ugandans (from obujajja to modernity). I could not have had any impact if I did not always work with colleagues, many of them, perishing in the struggle or departing this world since. Those who died in the struggle included: Raiti Omongin, Natolo-Masaba, Martin Mwesiga, Mwesigwa Black, Valerian Rwaheeru, Kahuunga-Bagira, Joy Mireembe, Mukomboozi, etc.

It is the sacrifice of those comrades and the millions of our followers that enabled us to achieve what we achieved. Stand up, please, to salute the contribution and memory of these comrades.  There is no doubt, that the NRM and its pre-cursors (Fronasa, the study groups) rescued Uganda from total collapse.  We did it by a correct diagnosis.  Our diagnosis was that man, in the last 600 years, had acquired scientific tools, that helped him to perform the mandate given to him by God, in the Book of Genesis (Chapter 1:26) ─ “to establish dominion over nature.  In other-words, control the floods, cope with drought through irrigation, deal with disease, detect and mitigate the consequences of earth-quakes, etc.  Moreover, do all this using machines that produce on a large scale alot of goods and services efficiently.

It is this capacity accompanied by man in the last 600 years that is now being called the 3 Industrial Revolutions. By 1960, when I started following global events closely, the more enlightened parts of the globe had gone through the 2 Industrial Revolutions and were entering the 3rd.

The big problem we noticed was that, for a number of reasons, mainly internal weaknesses with in Africa, this enhancement of human capacity had by-passed Africa.  Africa was backward scientifically and also sociologically.  Mass production in Europe had restructured the European society and given birth to new social classes that never existed before: the middle class (the bourgeoisie) and the working class (the proletariat).  This was in addition to the old feudal, peasant and artisan classes.  Given the huge size of Africa, 12 times bigger than India, 4 times bigger than China or the USA, also given the under-population of Africa, this crisis was not easy to see.

After all, people were eating, sleeping, etc. It was, however, a crisis we noticed and started exposing.  Given the sociological backwardness of the society, philosophical and political ideas were also backward ─ emphasizing identity of tribe and religion rather than interest ─ e.g. the markets.  Who will buy what I produce?  How can this be a serious problem if you are only producing a few goats that graze on one hill?

Since that time, our prescription was to fight the sectarian ideas of identity, emphasize patriotism (unity within Uganda), pan-Africanism (unity in Africa), social-economic transformation (sociological leap) to create a middle class and a skilled working class and to deal with global players on equal and mutually beneficial terms through trade, investments and tourism.

It is those four pillars of our social-political diagnosis and prescription that formed the base of our ideology and strategy.  These are: Patriotism, Pan-Africanism, Social-economic transformation and Democracy.  This means that we banish sectarianism of religion and tribe and gender-chauvinism against women because they do not address the crucial modern issue of market. The one who buys what you produce supports your prosperity. Therefore, there must be no sectarianism in Uganda because it fragments our market.  Moreover, even the Ugandan market is not enough.  We need the African market.  Hence, Pan-Africanism is core to our programme.  With a united African market, we can negotiate for access to other markets of the USA, China, India, Russia, Japan, etc.

This is how you can talk of “harnessing Africa’s economic potential”. Once you deal with the ideology, the diagnosis and prescription, you must deal with the strategy now:  How do you administer the prescription?  This is how you come to the other strategic bottlenecks that are not part of the primary diagnosis. All the bottlenecks are 10. However, ideological disorientation and market integration are also part of the 10 bottlenecks. The other bottlenecks are: lack of education, a weak State (Army, etc.), mishandling the private sector, under-developed agriculture, undeveloped services sector, etc.

We cannot modernize the economy for instance, if we do not solve the problem of infrastructure. High electricity costs, high transport costs, etc., cannot allow the economy to grow. By addressing the diagnosis issues (ideology and prescription) and by addressing the bottlenecks, the economy of Uganda has been able to grow at the rate of 6.3% per annum. This was even before we addressed some of the bottlenecks.  Now that we are addressing almost all the bottlenecks, the economy will grow faster and transform completely. We already have proto types of our own indigenously designed cars, buses and min-buses.  Our scientists have got quite a bit of patents for inventions.  We are continuing to share our views with other African leaders and the vision of Africa is continuing to coalesce for a united and modernized Africa that will close the 600 years gap of Africa’s lagging behind.  The potential of Africa is huge and it has always been there.  The population of 1.3billion people, 12 million square miles of land area is 12 times the size of India and 4 times the size of China or the USA. We have resources of every kind. The only problem has been social-political organization and the consequent social-economic organization ─ e.g. subsistence farming versus commercial farming; exporting raw-materials versus value addition; etc., etc.

Finally, I am very happy to be here with the Royal Geographical Society. It was, actually, the Royal Geographical Society that sent out Hannington Speke in 1862 to come to Uganda, HM Stanley to come to Uganda in 1874 and HM Stanley to come to Uganda, again, in 1887/9 to rescue Emin Pasha.  These inquisitive persons were able to link us with the outside world for the first time.  The first non-black person to get to Uganda was an Arab man, known as Ibrahimu, who got to Uganda in 1841.  Otherwise, our people had never seen a non-black person.  I do not know the original motivation of the Royal Geographical Society. However, that link up led to the opening up of Africa. I salute you and commend you.

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How potatoes and cassava helped Museveni shed 30kg

By
Agencies
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President Museveni after shedding off weight

A diet of cassava, Irish potatoes and indigenous vegetables helped Uganda’s President Yoweri Museveni shed 30kg (4 stone), he told the BBC.

“I am always fit but the doctors pointed out the mistakes and then I decided to shed off,” Mr Museveni said.

The 75-year-old leader said he had not been watching his weight, which had gone up to 106kg.

He denied comments on social media that he “looked tired”, saying that he had deliberately shed some fat.

In his personal blog last month, he said he “had allowed fat to accumulate in his body frame because the doctors had not explained to us clearly the mistake of not fighting fat”.

He added that his current weight of 76kg was suitable for his 5ft 7in (170cm) height.

Mr Museveni did not say how long it took him to shed the 30kg.

“I eat some cassava, because I don’t eat your European food and your Asian foods. I eat our food; which is cassava, some bananas, millets and our vegetables,” Mr Museveni told BBC Newsday presenter Alan Kasujja.

“So I normally eat a little bit of that in the morning. Then no lunch, I just drink water and coffee without sugar because it’s very bad – sugar is not good,” he said.

“Then at around seven [in the evening] I eat two Irish potatoes because they have got low starch, and a lot of vegetables to deceive the stomach that I am putting there something when in fact it’s just the roughage,” he added.

Presentational grey line

How healthy is Museveni’s diet?

 

It is hard to assess President Museveni’s diet without knowing the quantities involved.

However, cutting down on sugar is certainly advised if weight loss is the aim.

And going without lunch presumably means that, overall, he is eating less and if there are more locally-grown vegetables in his diet, that is also a change for the better.

Potatoes and cassava are packed full of carbohydrates and fibre – an essential part of any diet, although they are not normally associated with losing weight.

In 2015, he said that then US President Barack Obama told him during a meeting in Ethiopia that he looked young.

“I forgot to tell him that it’s because I eat Ugandan grown foods,” Mr Museveni said.

He has advised Ugandans several times to shun Western foods for local ones, which are, according to him, healthier and also stave off diseases.

Mr Museveni has been in power since 1986 and plans to run for a sixth term in 2021.

Pop star-turned politician Bobi Wine, 37, plans to run against him.

Two weeks ago Mr Museveni walked 195km (121 miles) through central Uganda to retrace the journey his forces used in 1986 when they seized power after the fall of Milton Obote’s government.

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Standard Chartered and Uganda Bankers’ Association in campaign to combat Cybercrime

By
George Mangula
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Standard Chartered Bank

Standard Chartered Bank Uganda in partnership with Uganda Bankers’ Association (UBA) on Wednesday spearheaded industry discussions on Information and Cyber Security (ICS) as a principal risk arising from the digital and technology revolution that aims at boosting service delivery to clients of banks.

The session held at Golden Tulip Hotel in Kampala was attended by local banks’ heads of operations, heads of information technology, and heads of compliance, heads of risk management and audit departments as well as the media.

The session also attended by government representatives was held to make banking industry players understand the global and local trends in ICS, discuss the emerging regulations and learn how to build a Cyber Secure culture within the local banking industry which of recent has seen rising cases hacking into ATMs and banks’ systems, with hundreds of millions of shillings lost.

Speaking to participants at half-day session, Standard Chartered Uganda CEO, Albert Saltson, said his institution takes ICS as a key risk and has put in place dedicated initiatives to identify, respond to and protect the bank from the Cyber security risks.

Saltson said Cybercrime w is a growing threat to everyone and corporations and they have created dedicated forums and resources to discuss the ICS risk and find ways to mitigate it.

“We have taken this step to spearhead industry discussions in partnership with Uganda Bankers’ Association and other stakeholders on this important topic as part of our commitment to share our knowledge, expertise and best practice within the Ugandan market,” he said.

He said Stanbic Bank Uganda team have the advantage of learnings from the bank’s network and believes adds value to the Uganda Banking sector. “We will continue to premise our services proposition to our clients on the provision of high-quality service to remain trusted and reliable business partners to them.

He said they would continue to study and …understand the local operating environment, manage any emerging risks and support the sector.

UBA CEO Wilbrod Owor, while addressing participants, said investment in digital solutions comes with risks associated with electronic connections to clients and others. “ICS risks have never been greater and the consequences of failure more impactful for our clients and our firms. We are therefore pleased to partner with Standards Chartered Bank to share knowledge and experience of Information and Cyber Security with us,” he said.

Owor said over 90 per cent of Ugandans are Cyber insecure, which he said calls for information sharing to combat Cybercrime, which he said is growing in complexity.

“I appeal to financial services sector to understand the risk environment, be security cautious and vigilant around cyber risk events,” he said.

John Jonathan Kwofie, Regional Head Business ICS at Standard Chartered Bank said emerging ICS threats present themselves in different ways such as: Denial-of-service attacks, data espionage, natural threats, sabotage, computer frauds, malicious attacks, message falsification or injection, vandalism and copyright violations, among others.

“It is also envisaged that as technologies advance, a resultant proliferation of cyber threats will be witnessed. The recent ATM frauds and system hacking attacks that we have witnessed in the Ugandan market are a clear indication that Cyber risk is already here with us so we nee3d to move ahead of the culprits.

Leah Kimata, the Country ICS Officer at Standard Charted Bank Kenya said the annual cost of cybercrime damage is estimated at US $6 trillion by 2021 and beyond. “I therefore appeal to all stakeholders including, government, financial and non-financial institution and other organisations to strategically plan and implement structures and technologies to help in combating cyber threats,” she said, urging banks to build a security culture conscious amounts their staff and that the role of security cannot be left to concerned heads of department.

Head of Legal and Compliance department at National Information Technology Authority (NITA), Caroline Akello Mugisha, said Cybercrime is real in Uganda and urged banks and other institutions to read and understand related laws and policies such as the Computer Misuse Act, 2011, National Information Security Framework, though he said penalties in Computer Misuse Act are not deterrent enough.

Edward Mugerwa, Bank of Uganda IT  Director said Cybercrime in Uganda needs collaboration amongst stakeholders at the bank together with UBA are working to have a Security Operations Centre (SOC) where banks can share information related to cyber-attacks.

Dr. Dorothy Okello, a member of Standard Chartered Bank Uganda board of directors appreciated the bank and UBA for coming with the imitative to fight cyber threats within the banking industry.

Standard Chartered Bank has organised stakeholder engagements from January 20-23, 2020 for regulators, the industry, clients and senior management.

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CDC reportedly stranded as new buyer insists on minutes of Dfcu-Crane bank deal

By
Our Reporter
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THE MAN IN THE SPOTLIGHT: Kisaame taking oath during parliamentary probe. He revealed Dfcu acquired Crane bank without any document

 

Attempts by Britain’s Commonwealth Development Corporation (CDC) to conclude the sale of their 9.97 per cent shares to the Danish Investment Fund for Development Countries has been hampered by internal squabbles at Dfcu bank as it emerges.

Eagle Online has reliable learnt that what is hampering the conclusion of the exercise is lack of support documents to some of the dealings Dfcu undertook and one such is the acquiring of Crane Bank.

Unlike CDC which participated in the acquisition of Crane bank without documents, Danish Investment Fund for Development Countries is reportedly insisting on all documents surrounding the acquisition of Crane bank and other important transaction be availed so that in future, there shouldn’t be any litigation involving the new buyer.

CDC late last year announced their exit from Dfcu bank as shareholders.

The British firm didn’t want to their reputation to be associated with the scandal in which Dfcu acquired Crane bank and therefore, it would damage the standings.

During the parliamentary probe into the closure of commercial banks by Bank of Uganda, it was revealed that most banks were sold with no support documents. In fact for the case of Crane Bank, the then Executive Director in charge of supervision, Justine Bagyenda admitted having sold the bank on phone.

The issue of minutes is reported to have halted the smooth transfer of the shareholding until it is resolved. Eagle Online has learnt that faced with this challenge, the board and top managers decided to call Mr. Kisaame back to handle the matter since he was the one in charge of the transaction.

The Danish fund are said to be straight that nobody at the body can convince them accept concluding the transfer.

 

Last year in February parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has Wednesday evening chased away Dfcu Bank officials from parliament for presenting documents which were unconvincing as they were not signed.

Bagyenda, Kisaame own up, ‘we didn’t have any minutes and documents in acquiring Crane bank’

During presentation, Dfcu officials led by chairman board of directors Jimmy Mugerwa who appeared before COSASE as witnesses in the closure and purchase of Crane bank, made a defense presentation in regards to the terms of purchase of Crane bank agreement, however, the presentation was backed by fake documents which were neither dated nor signed by the bank authority. However, this prompted MPs of the committee to kick them out and allow them reorganize themselves.

“It’s prudent for this committee to throw out Dfcu team because they are so confused and disorganised; they are fidgeting with their own documents. It is in the best interest that dfcu withdraws and reorganizes themselves. The then COSASE chairman, Abdu Katuntu said.

Some of the documents that caused the MPs to chase away Dfcu bank officials led by Chairman Juma Mugerwa and new MD Mathias Katamba included one on “Fair valued loans and advances of customers of Crane Bank Limited (CBL). The other included schedules of CBL loans and advances.

Mr Muwanga in his report on defunct banks faults Dfcu bank for engaging in transactions that did not follow proper guidelines as it bought of CBL assets at Shs200 billion, paid in installments. Dfcu Bank also bought the assets of Global Trust Bank without following guidelines as laid in the Financial Institutions Act, 2004.

However, matters were made worse when former Chief Executive Officer of Dfcu, Juma Kisaame confirmed to MPs on the Committee on Commissions, Statutory Authorities and State Enterprises that the invite for Dfcu to come and buy Crane bank was done on phone.

Kisaame who was appearing before the committee confirmed earlier remarks by Ms  Bagyenda which she had earlier told the committee last year that she simply picked up her phone, called Kisaame to discuss matters of the liquidation of Crane bank.

Kisami informed the committee that Bagyenda contacted him on phone to come to her office where he was informed of a potential bank that they would acquire.

 

 

 

 

 

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Archbishop Ntagali hailed for promoting unity, tolerance and reconciliation

By
Jimmy Komakech
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Archbishop Church of Uganda, Stanley Ntagali.

 

The Archbishop of the Church of the Church of Uganda, The Most Rev Stanley Ntagali has been hailed for preaching the gospel of unity, tolerance and reconciliation.

These were some of the descriptions of Archbishop Ntagali by various speakers at his farewell service at Christ Church Cathedral in North Karamoja Diocese. The service was attended by Bishop Giuseppe Filippi of Kotido Catholic Diocese and other leaders of different religious denominations attended the Service.

Rt Rev James Nasak the host Bishop commended the Archbishop for his passion of preaching the Gospel and for choosing Karamoja to do his Missionary work out of which fruits of salvation and reconciliation were harvested.

“Your emphasis on unity and reconciliation is one of the reasons we have our current peace and the same reason why all these people have come to receive you both today and yesterday,” Bishop Nasak said.

Bishop Giuseppe commended Archbishop Ntagali for promoting unity between Church of Uganda and other religious denominations.

“Your Grace, your active membership in Uganda Joint Christian Council and Inter Religious Council of Uganda is a clear manifestation of how you want the Church you lead and other denominations to join hands to serve the people of God, share values and development agenda,” Bishop Giuseppe said.

In his remarks, the Archbishop noted that he has a lot of passion for Karamoja region and called upon Christians to support their Children with education and health care.

“Let’s love our Children both boys and girls and give them the gift of education and health services,” Archbishop Ntagali said.

“Church of Uganda declared 2019 and now 2020 as Years of the Children. We are now focusing on advocating for the rights of Children to give them a firm foundation for them to gain confidence as they growth,” he said.

The Archbishop further implored the people of Karamoja to avoid early marriages and misuse of guns.

“In 2014, warriors were disarmed by UPDF. The former Warriors were becoming evangelists, now we are suddenly hearing that guns are coming back. I call upon you to come to Christ and focus on education because education is silent power,” he said.

He commissioned St Andrews SS Lobalangit in Karenga Sub County.

He noted that when the Church was starting, it began with schools and hospitals. “Educating our Children is one of the ways of preaching the Gospel & fighting against ignorance,” he said.

 

 

 

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Pastor Sserwada calls for passing of Marriage and Divorce Bill

By
Our Reporter
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Pastor Joseph Sserwadda (L)

 

 

The leader of the Born Again Community in Uganda, Pastor Joseph Sserwada, has urged members of parliament to pass the Marriage and Divorce Bill which he says has been on the shelves for long.

Speaking at Parliament yesterday , Sserwada said that one of the things disturbing the peace of the believers and followers of God is the absence of a robust and clear law on Marriage.

“Recently we saw a Pastor whose marriage was on the rocks making derogatory statements and acting irresponsibly against the institution of marriage,” Sserwada said, adding that, “we need Parliament to come up with Act to guard against watering down of the institution of marriage.”

Sserwada said that the current marriage laws address very little in respect to the prerequisites of the other religious institutions in the country with the exception of the Muslims that are protected by law to have an exclusive right for marriage designed around their faith.

“There is need for a law that is tailored to and caters for marriage of people in other religious denominations, something that is absent in both the current laws on marriage and the proposed Marriage and Divorce law,” he added.

The 2009 Marriage and Divorce Bill seeks to reform and consolidate the law relating to marriage, separation and divorce; to provide for the types of recognized marriages in the country and marital rights and duties.

The Speaker, Rebecca Kadaga said that having the church’s support will go a long way in pushing for the Bill that has met the resistance of ‘patriarchs in positions of power’.

“It is the religious institutions that never supported us in the beginning when we brought the current Bill; the laws that exist are outdated having been imported here during the British rule more than 50 years ago,” she added.

She said that Mozambique and Kenya which are comparably macho societies legislated for their citizens, friendly and conducive laws.

Kadaga urged the political and religious leaders to open up to discussing the Marriage and Divorce Bill.

The main celebrant, Fr. Raymond Kalanzi who stood in for Archbishop Cyprian kizito Lwanga urged the Members of Parliament to promote peace which should be hinged on justice, equality and prosperity.

“We will experience peace and harmony if we promote reconciliation, transformation and liberation,” Fr. Kalanzi said.

He added that anyone who accepts reconciliation will experience transformation which is change and anyone who resists it is an enemy of peace.

 

Attachments area

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Dfcu Bank flags off winners of ‘Rising Woman Initiative’ for three days study trip to Nairobi

By
Simon Kabayo
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The winners

Dfcu Bank in partnership with Monitor Publications and Uganda Investment Authority (UIA) has flagged off the winners from last year’s Rising Woman Initiative for a three days study trip to Nairobi.

The group of 10 is expected to network and learn how they can drive their businesses forward. This is in addition to free business advisory services for one year from dfcu’s Women in Business Program.

Last year, dfcu Bank, Daily Monitor and Uganda Investment Authority sponsored the 2nd edition of the Rising Woman Initiative under the theme ‘Taking Your Business Ahead.’

The following women entrepreneurial groups emerged victorious in the competition; Western Silk, My Passion, Haziel Agencies, Living Love Ministries, Val Media Consultancy, AWA Foods, Sceck Consults, Aw Bamboo Enterprises Limited, Finem (U) Limited, Wegner Investment Limited.

Belinda Namutebi, Council Member of Dfcu Bank’s Women Advisory Council officiated at the flag-off; congratulating the entrepreneurs and urging them to take advantage of the study tour and the benefits of the Bank’s tailor made financial solutions for women.

Remarking during the flag-off, Victoria Byenkya, dfcu Bank’s Women in Business Manager said; “We see it as our duty to continue the momentum toward women’s empowerment, and we all have a role to play.”

“As women grow more comfortable with their finances, they are more likely to continue exploring the finance industry and all it has to offer in the future either as members of the workforce or clients,” she said.

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Mbale Woman MP receives death threats, cries out for help

By
Isaiah Mwebaze
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Ms Connie Galiwango

Mbale District Woman Member of Parliament, Connie Nakyanze Galiwango is living in fear after an anonymous letter threatening her life was dropped at her home in Mbale town.

In the letter, the MP was asked to pay Shs30 million or risk getting killed. The unknown criminals are also threatening to burn the legislator’s home and also murder her whole family if she dares to report the matter to police.

It’s worth noting that this is the second time such a threatening letter has been dropped at her home in less than. Last year criminals dropped anonymous letter at the home in Mbale district demanding Shs400 million ransom.

Ms Galiwango subscribes to the ruling National Resistance Movement (NRM) and is one of the top politicians in the districts who advocate for Mbale Municipality to be elevated to city status come 2020/2021 financial year.

The MP is married to Hassan Wasswa Galiwango, the Director Finance and Administration at the National Resistance Movement-NRM party Secretariat.

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Museveni to officiate 34th NRM ‘liberation’ day celebrations

By
Geoffery Serugo
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President Museveni inspecting army parade

President Yoweri Museveni is set to officiate 34th National Resistance Movement (NRM) liberation day the celebrations which will take place at Ibanda Core PTC Grounds, Ibanda District.

This year’s celebrations will be held under the theme:  ‘Celebrating NRM/A’s Patriotic struggle that ushered in national unity and socio economic transformation’.

According to minister for presidency, Esther Mbayo, Sunday 26th January 2020 marks exactly 34 years since our country was liberated from bad leadership and commenced on an unstoppable journey to socio-economic and political transformation.

“Liberation Day remind us about a fight for the people that is why it is called the people’s war.” She said.

She said the day was a climax of an armed conflict that began on 6th February, 1981 at Kabamba Barracks by the National Resistance Army fighters under leadership of Gen Yoweri Museveni ending in the capture of Kampala and restoring peace and order in the country.

Lasting five years, the NRA protracted people’s war had been executed consciously by ordinary citizens who exhibited extra ordinary heroism, sacrifice and skill bearing in mind that it was not their fight but a fight for the masses.

The history of the NRM/A struggle dates back in the 1970s during the regime of President Idd Amin who had captured state power through a coup in 1971.

President Yoweri Museveni who was a few years from the university began the protracted struggle during his exile life in Tanzania to restore democracy and rule of law in Uganda.

The end of Amin’s regime in 1979 and the coming in of the Uganda National Liberation Army did not solve issues. On the contrary, mismanagement became the order of the day and a state of anarchy was unleashed onto Ugandans.

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Museveni urges British investors to report corrupt government officials

By
Geoffery Serugo
-
Museveni in London with Lycamobile investors

 

 

President Yoweri Museveni has urged investors to report Ugandan government officials who seek bribes, saying punitive action will be taken against those found guilty.

“We have launched a campaign against the corrupt. It is easy to root out this evil. The public hates them. All we need are facts. We are discouraging anyone who pays bribes. Don’t deal with crooks,” said Museveni.

Museveni made the call yesterday in London as he addressed leaders of over 70 British companies at the UK-Uganda Business Forum at the Double Tree Hilton Hotel in Central London.

The President is in London on a four-day official visit where he took part in the inaugural UK-Africa Investment Summit. The business forum was organised by the Uganda High Commission, supported by Lord Dolar Popat, the UK Trade Envoy to Uganda.

Making a case for Uganda as an ideal investment destination, the President said corruption, especially by government officials, had become a “bottleneck” to development and the whip was being cracked.

Appealing to investors to support the government in stemming the vice, the President said the identities of the whistleblowers would be protected if they felt threatened.

“We are suppressing corruption but we need facts to totally eliminate it. Please notify me; let’s lay traps for them. We shall protect your identities, you can speak to your high commissioner who will get to me,” he said.

Without divulging details, the President said he had stopped award of contracts to investors thought to have paid bribes to government officials in a project involving a dam and the Jinja Expressway.

He challenged the British investors to find proper spectacles to help them see opportunities, just like the Chinese were doing.

“The British tend to make good quality products. They should take the advantage of the natural resources we have and market to set up shop in Uganda.”

The President pointed out that Uganda’s economy had been steadily recovering and growing since 1986, with now 4,900 factories setting up base in the country.

This he said was because besides guaranteeing peace and stability, the NRM government had overseen the establishment of critical infrastructure like roads, dams and skilling the labour force.

“Uganda has good tarmac roads now. You can move from one border of the country to another on smooth, first class tarmac, across the six points of the compass,” he said.

“The banks are charging extortion interest rates between 17-20 percent or even more. However, we have our Uganda Development Bank, we are capitalizing it to support manufacturers and tourism, not for importation of whiskies, perfumes,” he said.

Lord Popat thanked Museveni for meeting the corporate executives, announcing that once Brexit is concluded, 80 percent of goods from Uganda to the UK would be duty-free.

He requested the President to consider opening a central bank branch in London to facilitate trade.

He also observed that once the revived Uganda Airlines acquired the bigger Airbus aeroplanes, with capacity of 40 tonnes, trade would go up, especially fruits and agriculture products finding their way to British markets.

At the close of the forum, Museveni also autographed a dummy sim card of the British telecom, Lycamobile that launched its operations in Uganda just last week.

 

 

 

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