President Yoweri Kaguta Museveni has said mishandling of investors and corruption are frustrating government efforts to increase value additions to Uganda’s raw materials.
He made the statement while delivering the State of the Nation Address 2023 at Kololo Independence Grounds in Kampala on Wednesday, June 7th.
The President cautioned government officials tasked with processing investors’ applications to invest in Uganda to stop unnecessary delays and corruption.
“Let us add value to our own raw materials that are planted here. Why do we sell it to clever people in foreign countries?” said Museveni.
According to President Museveni, Uganda now exports about 99 percent of its coffee, a practice he said isn’t right for the country’s economy.
“Delaying and tossing our investors must stop; why are you (culprits) overestimating yourselves? Mishandling investors and wasting their time! We crush these two evils, and the sky is the limit,” said President Museveni.
There’s a rich man whose wealth is bigger than the GDP of East Africa. I was trying to convince him to come here (Uganda). Then [then Prime Minister] Apollo Nsibambi told him, ‘You write to me’. I told Nsibabmbi in Luganda that ‘Oyo omusajja tagenda kuwandiikira gwe’ (that man cannot write to you). You’re wasting his time. This business of tossing our investors up and down must stop, the president narrated.
President Museveni recently appointed Col. Edith Nakalema to head a special unit in State House to deal with extorting money from investors.
On tourism, the president said the sector is steadily recovering. “International tourist arrivals increased to 815,000 in 2022 from 473,000 in 2020. Although there is a recovery, performance is still lower compared to the 1.5 million tourists recorded in 2019.
“Through tourism, Ugandans are now getting richer. The middle class is now visiting our national parks. I want to congratulate Ugandans on overcoming poverty,” said President Museveni.
