H.E. PRESIDENT YOWERI KAGUTA MUSEVENI
President of Uganda/Commander in Chief of the UPDF
 |  President Museveni directs on locally produced goods Government ministries, departments and agencies (MDAs) should begin procuring locally made products, President Museveni has directed.Despite private sector cries for years to have the government procure locally made goods, there has been a preference for foreign manufactured goods over locally made products by the government MDAs.This according to the private sector leadership in the country explains why the nascent manufacturing sector is not as vibrant as it is should be.Speaking at the 54th Independence Celebration held in Luuka, Busoga sub-region, President Museveni who also ordered that the uniforms for men and women in the army and police be made here instead of being imported as it is the case, said it is time the country stopped donating jobs to other economies. Read more ▪ Museveni brands imported product users foolish President Yoweri Museveni has said Ugandans are only stupid when they lament about the rising levels of unemployment in the country yet on the other hand continue buying Chinese products at the expense of the locally made ones.Speaking during the launch of Muyoka Sacco at Mengo Secondary School in Kampala on Saturday afternoon, Museveni said Uganda is a blessed country with a lot of resources which can be put to use to solve the unemployment problem, but said people are lazy to tap in this chance.The President checks some of the products made by the Muyoka Sacco members The President checks out some of the products made by the Muyoka Sacco members“Why should we continue crying over unemployment yet we continue buying products like shoes from China and Italy. We have over 14 million cattle in Uganda and these can provide skins to be used in the making of shoes here in Uganda,” Museveni urged.“Why should you go to Dubai to buy furniture when we can make our own here? How can a desert country continue selling us furniture when we have our own forests? We need to wake up and start making our own products.” Read more ▪  President Museveni has officially opened this year's international trade fair that kicked off on the 3rd of this month ending 10th October.He called on manufactures to be more creative and innovative so as to find market for their products both in regional and international markets.The fair under the theme "Empowering Women Parity in Manufacturing" is aimed at drawing the attention to the under representation of women in manufacturing.A total of 1350 exhibitors are taking part in this year's exhibition, with a special section for agribusiness exhibition and more than 240,000 visitors are expected to attend.Doris Kaiyura, a farmer is exhibiting a unique security item in form or birds like the geese. These are birds in the duck family,In the agriculture section, Greening environment technologies a private company promoting fruit tree growing is selling a variety of fruit tree seedlings.This is aimed at making it easy for people to access quality seedlings so as to increase fruit growing for health living and income generation.Read more ▪ Museveni appeals World Bank over loans, sends delegation to plead President Museveni has written to the World Bank (WB) promising that his government is addressing the structural gaps and other loopholes that compelled the bank early this month to announce withholding of more than $1.5b (Shs5 trillion) in new lending until further notice.The President’s letter to WB, also copied to senior officials in the Ministry of Finance, is part of efforts by government to salvage the loans and save many projects whose failure could have wide economic and political ramifications.The secretary to the treasury, Mr Keith Muhakanizi, confirmed that the President has engaged the WB to resolve the issue.Read more ▪ Museveni arrives in Rwanda for Investment Summit President Museveni has arrived in the Rwandan Capital Kigali for a two-day investment summit.The summit which is organized by the Global African Investment COMESA and the Government of Rwanda is being hosted by the President of Rwanda Paul Kagame and is aimed at promoting investment in a various sectors including: education, ICT, development and the economy.The President who traveled by road from Kabale to Kigali, was received at the Rwanda border by the Minister for Infrastructure Development James Musoni and other Rwandan officials and Uganda’s High Commissioner to Rwanda Richard Kabonero. In Kigali, the President was received by Frank Mugambagye, Rwanda’s High Commissioner to Uganda, Uganda’s Minister for Information and ICT Frank Tumwebaze and State Minister for Investment, Evelyn Anite.President Museveni has indicated his commitment to developing foreign direct investment and international participation in the social and economic development of the Great Lakes region, saying, “This is the right time and Uganda the right place because of the big East African market and vast profitability opportunities now available.”Museveni has consistently urged investors to regard Uganda and Africa as a crucial investment destination because of steadily increasing purchasing power and growing market.According to the 2016 Foreign Direct Investment (fDi) report, foreign investment into African projects increased by 0.6 per cent . Read more ▪ Museveni asks Japan to open its market to Uganda President Yoweri Museveni has asked Japan to open up its market to Ugandan goods and services so as to facilitate trade between the two countries. Museveni who met with the Japanese Prime Minister, Chinzo Abe Sunday in Kenya said Uganda has for long supported the Japanese economy and it is time the Asian economic giant did the same.“Good projects have been undertaken between Uganda and Japan. I am pleased with progress in the construction of a bridge in Jinja, the roads in Kampala that include flyovers and hospitals,” Museveni told PM Abe.He noted that for there to be stronger cooperation between Uganda and Japana, there must be a balance of trade. Uganda has over the years bought Japanese manufactured equipment especially for building infrastructure as well as vehicles.“We have bought from Japan for a long time. Uganda, for example, began buying Japanese cars before independence,” said the President.“Since then, we have bought more from Japan than it has from us. We have supported the Japanese economy and prosperity. We have supported your factories and helped you get jobs. Japan should now create a balance of trade.” Read more ▪  President meets Chinese investors President Yoweri Museveni held a meeting with Chinese investors who called on him for a discussion.The meeting follows a directive that was given by the president while addressing government ministers and their permanent secretaries at the National Leadership Institute in Kyankwanzi that Asians and foreigners must be discouraged from getting involved in small scale businesses in Uganda..According to officials the president and his guests discussed matters of mutual interest. The President urged entrepreneurs from China to invest more in the Ugandan economy especially in areas of agriculture, energy and textiles among others. He said that Uganda is ready to partner with anybody as far as business enhancement in the country is concerned.He also reminded his guests that Uganda is very rich and has abundant natural resources. He, therefore, called on the Group to invest more in the country and tap into the still unexploited business opportunities that Uganda offers. Read more ▪ Museveni salutes the flourishing balance of trade between Rwanda and Uganda The president of Uganda Yoweri Kaguta Museveni has appreciated the flourishing trade partnership between Rwanda and Uganda.In his key note address at the opening of the government and political leaders retreat at Kyankwanzi. Museveni said Rwanda and Uganda's export and import of goods and services is on good footing.He noted that; " Uganda exports US$263 million worth of goods and services to Rwanda. Rwanda, in turn, is exporting US$78 million worth of goods to Uganda. Through Rwanda Airlines, Uganda is currently contributing about US$ 24.1 million to the prosperity of the people of Rwanda... "Here we reproduce his full speech as presented to the NRM Central Executive Committee, cabinet and permanent secretaries gathered at Kyankwanzi. Read more ▪ President Yoweri Museveni: Do not grow maize, sugarcane on small pieces of land… President Yoweri Museveni has advised farmers not to grow low-value crops such as maize and sugarcane if they have small pieces of land. “If you have only two acres of land on which to practise your farming, do not grow maize,” he said during the official opening of the farmers’ show in Jinja.“Even if you did everything right including using fertilisers, the maximum you can get from an acre is sh1m,” he said. And then of the sh1m got from an acre, at least sh600,000 goes back there as production costs. It means that a farmer makes only sh400,000 as profit from an average five months of work. It is even worse for sugarcane farmers. An acre of sugarcane earns a farmer sh880,000 on average, before production costs are removed. And yet, to mature, sugarcane takes at least 18months. “During this period if somebody who planted tomatoes on the same acre of land has had three harvests, with each fetching around sh7m on a moderate scale,” said Moses Magumba, a farmer from Mayuge. Read more ▪ Museveni to open agricultural show in Jinja President Yoweri Museveni is expected in Jinja to officially open the 24th edition of the national agricultural and trade show at the source of the Nile -Jinja Show Grounds.Security has been heighted in Jinja ahead of the president’s visit and according to Jinja DPC Felix Mujizi; police is carrying out its routine duty of ensuring law and order.The show ground manager Peter Kisambira says the president is expected at the show.“He will be touring the exhibitors before addressing the gathering at the show hall. We believe his tour of the show will go a long way in wooing many people to join the show in the remaining days,” Kisambira said.He also expressed concern that whereas this year registered an explosion of exhibitors, the number of revelers remained meager. Read more ▪ We can be a middle-income economy in five years In his state-of-the-nation address to the 10th parliament, President Museveni promised to deliver Uganda to the middle-income economic status.The president went ahead to state "this is the cabinet that will take Uganda to the middle-income status", when inaugurating his team of ministers at State House, Entebbe. Subsequently, various commentators, mainly activists, the media and academicians, have expressed scepticism not only from the variables that propel an economy to such a level, for instance, investment and structure of the economy (Uganda is 68% subsistence), but also the timeframe defined by the president. Read more ▪ President Museveni: Uganda spends Shs3 trillion on textile imports annually Ugandans are spending $888 million (Shs2.991 trillion) on annual textile imports, President Museveni has said.This is money Uganda could have saved since there are textile factories operating in the country.Ugandans also spend Shs568.7 million on second hand vehicles, Mr Museveni said during the State-of-the-Nation address in Kampala.The amount Ugandans spend annually on just these two items could meet 86.19 per cent of the costs of constructing the 600Megawatt Karuma Hydro Power Plant.Besides textiles, Uganda also spends a lot of money on fruit imports - $20.2 million (Shs68 billion) – and leather goods ($0.22 million – Shs741.180 million).Mr Museveni, however, said many of the imports can be manufactured in Uganda.“All these can be made here; fortunately, the investors are here,” he said, adding, “They just need a good atmosphere for investment.” Read more ▪ Museveni calls for streamlining of taxes in dairy sector "I don't support taxing 18% per litre but we can agree to tax the income earned on the milk," he said. Museveni also warned farmers against land fragmentation and encouraged them to use rotational farming or paddock system so that their cattle can have pasture to feed on throughout ."You must learn to grow grass like Hyperleria loofer, Dradelia, Prolyce Giana, Temla and grow sorghum and maize as cattle food to improve the quality and quantity of our milk," he said. Museveni said that milk production has been able to increase because people stopped nomadic farming, a practice that was spreading diseases among the animals. He proposed that farmers form an association that will systematically deal with all issues affecting dairy farmers in Uganda.He observed that in 1986 Uganda used to produce only 200 million litres of milk but production has since increased to 2 billion litres per annum. Read more ▪ President Yoweri Museveni: Uganda opts for Tanzanian route for oil Pipeline The 13th Summit of the Northern Corridor Projects that sat in Kampala has finally decided that Uganda’s crude oil pipeline will pass through Tanzania to the East African cost ending speculation over the same.Addressing the summit, President Yoweri Museveni said after a meeting with his Kenyan counterpart, Uhuru Kenyatta, they had come to an agreement that the Tanzanian route would be more viable.“I have agreed with President Uhuru Kenyatta that the two pipelines go ahead – one from Lokichar to Lamu and another from Hoima to Tanga,” said Museveni at the summit.The Permanent Secretary in the Foreign Affairs Ministry Amb. James Mugume said that the final decision for the pipeline lay in the hands of both Kenyan and Ugandan presidents who he said were scheduled to meet before the summit concluded.The Permanent Secretary said that among other key factors to be considered would be the route with a cheaper cost for a barrel to reach the East African coast. Read more ▪ President meets L. Victoria fuel transport investors President Yoweri Museveni has received and held a meeting with the Managing Director of the Indian-based Mahathi Infra Services Pvt Ltd, Ravi Sankar Yandapalli and the Director of the same company, Y. Kalyan Swaroop, who who called on him at State House, Nakasero. During the meeting, the President and his guests discussed issues pertaining to the proposed development of fuel transportation from Kenya to Uganda through Lake Victoria. The company says that their proposal will involve the development of fuel transport system using oil tankers from Kisumu to Kampala using Lake Victoria waterway. According to the two executives, their company is also undertaking the development of a strategic oil storage terminal for receipt of oil products from the tankers. The visitors also informed the President that their organization, Mahathi Infra Uganda Limited, is already in the process of developing a disposable syringe manufacturing facility in the country. The officials revealed that once the syringe-manufacturing venture is operational, the facility will be one of the largest manufacturing businesses in Africa. - Read more ▪ Liberalising pension sector unnecessary - Museveni President Yoweri Museveni has said there is no need to liberalise the pension sector because NSSF is still performing well. There are some pensioners who want Parliament to pass a Bill which will liberalise the sector to enable workers have the liberty to save with a pension body of their choice. However, the President while officiating at ceremony of National Social Security Fund’s (NSSF) operation, said Uganda's economy is still growing and the workers’ money cannot be split between different bodies. “I have never opposed or supported bringing in private firms. NSSF needs to have one good advantage; we have this big volume of money which is available for any useful capital development project. So unless it is being mismanaged then bringing in private players makes sense,” Museveni said. If NSSF does some good work by selecting some of these crucial investment sectors, then they will be strengthening their position. Concentration is better than dispersal,” he added.Read more ▪ President Yoweri Museveni: Trade license law amended Government has amended the trade licensing act after President Yoweri Museveni assented to changes in the law to provide an appeal mechanism, and reduce the cost of doing business. Under the changes, businesses must keep books of accounts or face a penalty of more than 3 currency points or sh60, 000. All fines in the Trade licensing Act are expressed in currency points, one currency point is equal to sh20, 000. Also changed are the number of grades in a city, municipality and town to 4 from 2 for purposes of determining trade licensing fees. Hitherto, small businesses were incurring the same fees as their larger counterparts in the same location. The duration of a trade license is now 12 calendar months. In the previous law, all trading licenses expired on 31st December of every year regardless of when the license was acquired. An appeal mechanism has been created for business owners that could be denied trade licenses, local governments had all rights over the issuance of trade licenses.Read more ▪ Museveni Woos Arab Investors to Uganda President Museveni met with businessmen and potential Saudi Arabian investors and told them that "Uganda is a very rich country to invest in," especially the agricultural sector.Addressing the Council for Saudi Chambers of Commerce and Industry and other selected industrialists, President Museveni said: "If Saudi Arabia can import our vegetables, tea, coffee, fruits, animal products and more and we also import their produces, this will help our prosperity and theirs too."The President, who is expected back in the country today (Wednesday), left for Saudi Arabia for a state visit.He was accompanied by Foreign Affairs minister Sam Kutesa, Energy ministry PS Dr Kabagambe Kaliisa, Gender ministry PS Pius Bigirimana and minister for General Duties Tarsis Kabwegyere.The President met and held talks with the Saudi Crown Prince Mohammed bin Naif bin Abdul Aziz, between the two countries and further ways of enhance this cooperation.Read more ▪  Museveni urges Ugandans on EAC potential President Yoweri Museveni has called for a more integrated African market if the continent is to play a bigger role in world trade.He urged Ugandans to utilise the vast opportunities for trade and free movement of labour in the East African Community (EAC). He said the dismal involvement of Africa in global trade has been occasioned by small fragmented markets. Museveni, said there needs to be more involvement of citizenry and business in integration.“Citizens have not fully appreciated the importance of the large market, despite businesses having made some inroads,” Museveni said in a speech read by Prof. Tarsis Kabwegyere, the minister of general duties, during the Karibu East Africa Community climax. Kabwegyere flagged off a symbolic caravan that will travel to Iganga, Busia and Moroto at the Serena Hotel in Kampala.The caravan is part of efforts to sensitize the public on the benefits of the EAC regional integration. Read more ▪ Uganda’s sugar turns sour in Kenya Uganda imports goods worth $700m (about Shs2.4 trillion) from Kenya, compared to exports worth $150m (about Shs530b) to Kenya. Therein the statement lies a pointer to the move by Mr Kenyatta to have this trade deficit reduced, at least according to President Museveni.“...and commended President Kenyatta for implementing initiatives that would contribute to bridging this gap,” the communiqué reads in part.The carefully worded communiqué only said Uganda National Chamber of Commerce and Industry and Kenya National Chamber of Commerce and Industry had signed a Memorandum of Understanding to promote “common interests.” Read more ▪  Museveni in China for Asian economic forum President Yoweri Museveni is in the Chinese City Island of Hainan in Sanya for the BOAO Forum for the Asia Annual Conference.The President, who is accompanied by the First Lady and Minister for Karamoja Affairs, Janet Museveni was received at the Sanya Phoenix International Airport by the Chinese Ambassador to Uganda Zhao Yali and Uganda's Ambassador to China Charles Wagidoso among other officials.The President will give an address promoting Uganda's investment and tourism potential at the forum.The President will be hosted together with other visiting heads of state to an official banquet while the First Lady Janet Museveni will join other spouses to visit the nearby Biering Community. During the working visit, the President will visit Tianjin City and hold a meeting with H.E Huang Xing. the acting Secretary the Tianjin Municipal Committee the Committee of the Communist Party of China and Mayor of Tiankin Municipal People’s Government. Read more ▪  Diversify into fruit processing, Museveni tells Nile Breweries President Yoweri Museveni has urged SAB Miller Worldwide, which is a multinational brewing and beverage company, to diversify their activities in Uganda into fruits processing. The President made the remarks when he received Alan Clark, who is the Chief Executive Officer of SAB-Miller Worldwide, who called on him at State House, Entebbe.The President welcomed him and his team to Uganda and said that his Company should look into diversification from beer and water production into fruits processing targeting the export of fruit juice both to the local and international markets.In Uganda, SAB Miller are the proprietors of Nile Breweries and Rwenzori Water projects. The Company, which is headquartered in London, UK, operates in over 80 countries in Africa, Europe, the Americas, Asia and Australia.The meeting was also attended by Mark Brown, the Managing Director of SAB-Miller Africa (Pty) Ltd, Greg Metcalf who is Managing Director of Nile Breweries Ltd and Elly Karuhanga. Read more ▪ Look out for opportunities, Museveni tells youth President Yoweri Museveni has called on Ugandan youth to have initiative and take advantage of the available opportunities in the various sectors of the economy.He advised young people – especially fresh graduates – to steer away from irresponsible lifestyles.This was at the third edition of Bukedde’s Yiiya Ssente Business Forum at Kololo Independence Grounds in Kampala that attracted a huge crowd of business-keen people.The previous two fora were held and attracted similarly massive audiences.Attending the event for the first time, President Museveni spoke moments after his arrival which was met with cheers from a large group that braved stifling temperatures.He was received by State minister for fisheries Ruth Nankabirwa, Vision Group chief executive Robert Kabushenga and other dignitaries. Read more ▪ President Museveni backs food processors President Yoweri Museveni has said the Government should support viable, well established scientists who are already undertaking agro- food processing as a business in order to help them generate large-scale income as they strive to become producers of wealth. The President was speaking during a meeting with officials from the ministry of finance and members from the Food Technology Cooperation Society, who were led by Prof. William Kyamuhangire. The group consists of different companies that deal in agro-food processing such as meat, mangoes and soya beans. Some of the food processors are based at the Food Technology Business Incubation Centre at Makerere University. During the meeting that took place at State House, Nakasero, President Museveni appointed trade minister Amelia Kyambadde, as the overall coordinator for the Food Technology Cooperative Society. Read more ▪ Museveni stops Shs300b inflated telecom project President Museveni has ordered Prime Minister Ruhakana Rugunda to block an imminent approval of an additional loan to a Chinese firm implementing government’s fibre optic cable project.Mr Museveni made the directive after finally reading the Auditor General’s letter which shows that the project cost had been inflated and poorly procured. Mr Museveni asked Auditor General John Muwanga to conduct an audit of the project being implemented by Huawei Technologies with a loan from Exim Bank of China, following queries about the cost and quality of work done.Mr Muwanga contracted international consultancy firm Ernst & Young to do the audit and reported back to the President. But Mr Museveni said he had not seen the report.Read more ▪ Museveni to engage Kenyatta over continued blockage of Ugandan exports President Yoweri Museveni has promised to engage Kenyan president, Uhuru Kenyatta, over continued blockage of Ugandan exports, an action that contravenes the East African Community (EAC) treaty. Alykhan Hudani, the chairman of Yo Kuku, the multi-billion chicken processing plant, said despite importing day-old chicks from Kenya, Kenyan authorities blocked their processed chicken from entering the Kenyan market. Museveni responded at the commissioning of the plant in Luwero, saying; “Some of the Kenyan officials are narrow-minded. They were trying to block sugar, milk and now chicken. If I said no Kenyan products here, they would not like it.”“Even without the EAC treaty, the mutual interest of Uganda and Kenya is bigger,” Museveni added.Uganda has been Kenya’s biggest trading partner for decades. Although Uganda’s industrial base is expanding, many Kenyan products still occupy shelves in Ugandan shops. Museveni asked agricultural processors to stay calm and continue to venture into fruit and juice processing. He promised Luwero youth that he will support their efforts to grow maize and soybeans. Museveni hailed the several industrialists who have opened up businesses in Luwero, once a war zone. Read more ▪  President Yoweri Museveni has said that the NRM Government is committed totally to the supervision of the poverty eradication drive in the country.The President made the remarks at the Jinja district headquarters where he addressed a gathering of market vendors and other stakeholders shortly after commissioning the new Jinja market that cost Shs. 28 billion. The venture was funded by the African Development Bank (ADF).President Museveni told the excited crowd that the market was built with the aim of facilitating all the vendors that operated from the market without discrimination. He allayed fears of some vendors being denied the infrastructure that was built to facilitate them in their efforts to eradicate poverty. Read more ▪  President Museveni has met and held a meeting with a group of Chinese entrepreneurs interested in Uganda’s extractive sector.They were led by their General Manager, Mr. Michael Hu.The investors who called on the President at State House, Nakasero, were assured by the President that the Government of Uganda supports them for taking keen interest to do business in the country.The Guangzhou Dong Song Energy, Uganda Company Ltd, has shown interest in the establishment of factories in the country ranging from processing phosphates, steel, fertilizers and sulphuric acid, among others. Read more ▪  President Museveni has held a meeting with the Chief Operating Officer of Universal Aerospace from South Africa, Mr. Doug Berry, who called on him at State House, Entebbe .Mr. Berry told the President of the plans by the Universal Aerospace Company, to construct maintenance and repair of aircraft facilities in Uganda, re-launching of the Uganda Airlines, as well as the building of a new airport in Uganda’s oil fields in the Albertine area.President Museveni has in recent months mooted the idea of reviving the Uganda Airlines.Insiders tell Chimpreports that at the peak of Uganda’s oil production, Uganda will need 40 domestic flights which could generate plenty of money for the airline.It would also reduce the cost of flights in the region by competing with stronger national airlines especially in East Africa.Read more ▪ Museveni Urges Investors On Agricultural Insurance President Museveni has called on investors to channel more investments into value addition on agricultural produce and insurance for farmers.While opening the plush UAP Nakawa business park , the President praised owners of the modern office accommodation facility for providing an alternative source of income and creating employment. UAP, through their real estate investment arm, are the proprietors of the $70m (approximately Shs 180bn) facility, which boasts four eight-storeyed office blocks.Museveni said that UAP had demonstrated prudence in using five acres of land to erect such a multibillion investment facility."If they grew sweet potatoes on the same acreage, it would not fetch as much returns," he said, noting that a bigger piece of land at the former Naguru estate is underutilized because some investors have been frustrated in their efforts to redevelop the area. Read more ▪  Museveni Opens Nakawa 5 Acre Mall President Museveni has today opened a Shs 180bn Business Park in Nakawa, an investment by UAP Insurance.The business park in the city suburb is a world class structure with ambient surroundings, serene office space and hassle free parking space.Speaking at the opening ceremony, president Museveni congratulate Prof. Gordon Wavamuno and Kenyan partners for participating in transforming Uganda’s economy”“Real estate has grown in the country and property owners need insurance,” Museveni noted appreciating a timely investment in the country.He added, “If this land is only 5 acres and the structure is $70m, the land has been well utilized.The president has appreciated the city Executive Director, Jennifer Musisi who has ensured a cleaner city hence attracting more investors.“I thank my daughter Jennifer Musisi, investors are starting to appreciate her efforts; this is the city Uganda needs, if an investor finds a city clean, he will move on an invest.” Read more ▪ President Yoweri Museveni: Uganda to showcase 14 projects at London summit President Yoweri Museveni will travel to London to showcase 14 projects for funding at the Global African Investment Summit (TGAIS).The summit, chaired by former Nigerian president Olusegun Obasanjo, is seeking to direct funds from some of the world’s largest institutional investors into projects across five nations – Uganda, Ghana, Rwanda, Tanzania and Togo. TGAIS is designed as a platform for African governments to bring bankable projects to the international market, targeting a range of investors, including institutional investors, family offices, pension and private equity companies.It is the first time that such a forum has been staged on this scale in London.The Government is looking for investors to finance projects in key industries including agriculture, infrastructure and natural resources. Read more ▪  Prioritize Value Addition – Museveni Tells Investors President Yoweri Museveni has urged mining investors in Uganda to prioritize value addition to minerals in order to build a strong base for the economy of the country.The President made the remarks at the 3rd Conference on Mineral Wealth held at the Kampala Sheraton Hotel .“You should always bear adding value to minerals in mind so that we get more jobs as well as build technical capacity and a strong base for the economy,” Museveni urged.The President, who gave a detailed account of the mineral sector in Uganda, assured investors that government will ensure that all the necessary requirements for adding value to the minerals are made available. Read more ▪ President Yoweri Museveni: Uganda to Open U.S.$10 Million Chicken Processor Firm President Yoweri Museveni is expected to officially launch a new $10 million broiler farm and poultry processing plant.Owned by Hudani Manji Holding Limited, the facility is situated in Semuto Nakaseke District about 107 kilometers North West of the capital, Kampala. Hudani Manji Holdings managing director, Rafik Manji said the new plant will reduce the supply gap of poultry products such as chickens on the market."The demand for chicken protein is on the rise in Uganda among the growing middle class whose lifestyle s are changing to appreciate more white meat based diets. This demand has quickly outstripped supply because there is no dominant integrated player in the Uganda poultry sector that is itself ,highly unregulated. That is why we are coming up with this plant in Uganda to close the supply gap" he said.In agriculture, the poultry sub-sector is one which has not attracted many investors compared to others.The majority of people involved are small holder farmers who cannot always meet the demand for chickens at both local and regional level.Read more ▪  Museveni Vows Massive Shakeup at UIA President Museveni has said that there will be a shake-up in the Uganda Investment Authority (UIA) to make it more effective as a one stop centre and to be more responsive to investors’ needs as far as investment information is concerned.The President acknowledged that while there is corruption in the Police Force, the fight against the vice has been continuous struggle that needs a collective effort.The President was addressing over 600 Ugandans living in the Diaspora in Texas at his residency at the Lone Star Ranch in Texas where he has spent the last two days meeting various investors and the Ugandan Community here.“Previously, we had a total breakdown of law and order, murders, extra-judicial killings and corruption of the worst type. Most of these have been defeated. Fighting corruption is a continuous struggle, I urge you to bring this information to the attention of government if we are to win the fight,” the President said while reacting to reports of inadequate information about investment opportunities in Uganda and the high level of corruption in the Ugandan Police.Read more ▪ President Yoweri Museveni: Mineral conference to focus on partnerships President Yoweri Museveni is expected to be the chief guest at the Uganda Mineral Wealth Conference.According to a statement by the organisers the focus at this year’s conference will be on creating partnerships between international exploration companies and local companies to better exploit and manage the country’s mineral wealth.The conference will also be used as a forum to highlight the investment opportunities in Uganda’s mining sector to both local and international companies interested in investing in the industry according to a statement released by the Uganda Chamber of Mines and Petroleum.This event that is now in its third year , attracts business leaders, policy makers, bankers, decision makers from governments, key players and service providers in the mining sector from Uganda, the East African region and the world at large.Read more ▪ President Yoweri Museveni's: Gov’t to enact law against SACCOs money theft Government is in the process of enacting a law that that will punish those found guilty of stealing people’s savings through the Savings and Credit Schemes (SACCOS).The warning was contained in the President Yoweri Museveni's speech read by the minister of state for Industry and Technology, James Shinyabulo Mutende, at the opening of Buyanja SACCO in Rukungiri district. “I have been informed of corrupt individuals who are taking advantage of such a good thought-out Government programme to defraud the population of their savings, something that bears a negative effect on the development of the country,” said Museveni. Museveni said that once the new law is put in place, it will make it impossible for anybody or group of people to defraud people of their money through SACCOs without being intercepted.“Apart from providing credit to the people engaged in commercial production projects, SACCOs are useful in building a savings culture among the population, which is a strong component in the social- economic development of any society,” said Museveni. Read more ▪ Museveni assures tea farmers, processors about price stability President Yoweri Museveni has assured tea farmers and processors of access to market and price stability.Speaking at the opening of the $2 million (about Shs5.2 billion) Kyamuhunga Tea Factory , the President blamed the current fall in prices of tea to the political turmoil that has been experienced in North African countries of Egypt, Tunisia and Libya as well as in the Middle East.He, however, urged the farmers and the processors not to give up saying he would consider helping them to access the market. “Egypt had the most consumers. The political conflict there is the reason prices are poor in Mombasa. When people are dying and there is no peace, no one can buy. I will go there, maybe I will take you (processors) there and see if we can get the market,” he said.The President’s remarks came after Eng Sotti Bomukama, the factory’s managing director, decried the fall in prices of processed tea in Mombasa. He said while they expected to sell a kilogramme at $2.6 (about Shs6,786) when they did market research in 2012, they started by selling at $1.9 (about Shs4,959) per kilogramme.Read more ▪ Extortionists delayed fertilizer project - Museveni President Yoweri Museveni has said unscrupulous people he described as “extortionists” have delayed the construction of the $620m (sh1.6 trillion) Uganda Sukulu Phosphate Comprehensive Industrial Development Project in Tororo district for two years.Museveni warned that extorting money from investors creates a bad image for the country and undermines development.The President made the statement during the breaking-of-the-ground ceremony for the project in Sukulu, Tororo.The project covering 26.5 square kilometres in Sukulu and Rubongi subcounties will manufacture key products such as phosphate fertilisers, steel products, sulphuric acid, rare earth minerals and generate electricity.Read more ▪ Museveni: Commercial agriculture will transform Busoga President Yoweri Museveni has asked the people in Busoga region to practice commercial agriculture so as to realize financial stability in the area.He was addressing a delegation of NRM Women’s League from Busoga sub-region who called on him at his country home in Rwakitura, Kiruhura district.The team was led by the Speaker of Parliament Rebecca Kadaga and included MPs from Busoga, leaders and mobilizers.“The commercialization of agriculture is what Busoga needs to attain financial stability,” Museveni said. “However, crops such as maize and sugarcane can yield highly only if done on a large scale.”He went on to advise the women to adopt the seven-acre method of agriculture in order to ensure better and higher profits from their varied activities even for those who have small pieces of land.The NRM leader cited projects such as piggery, poultry, dairy cows, pasture/fodder, fruits, colonal coffee and food crops like matooke (bananas) and cassava that can be grown together on the same piece of land.With this move, he said, each homestead can be sure to earn at least sh50m annually. Read more ▪  Industry, service sectors key to prosperity, says Museveni The industry and service sectors are the only drivers that will deliver the country to economic prosperity, President Museveni has said.While commissioning the Tian Tang’s Shs80 billion plant on Monday, the President said not even agriculture, where the majority of Ugandans derive livelihood from, can propel the population to economic prosperity. He said: “This man (Mr Paul Zhang, the Group chairman) bought 33 acres of land this year and it will generate him more than $55million (about Shs145 billion) of wealth by close of the same year.”He continued: “If he had planted potatoes on this land, how much would he get? I know we need potatoes and the Ankole cows but industries are much more important and rewarding than our potatoes and yams.”Speaking about Tian Tang Group, one of the largest steel and mattress manufacturers in East Africa, the President said beside their contribution to job creation (currently employing more than 1,000 with 95 per cent being Ugandans) and tax contribution, which is in a range of nearly Shs5 billion, he referred to them as teachers who Ugandans should learn from.Read more ▪ President Yoweri Museveni: French Companies’ Investments in Uganda Hit 6.2 Trillion President Yoweri Museveni has called on French firms to invest in Uganda, Chimp Corps report.He made the call Monday evening at the French Embassy, in Nakasero, Kampala during celebrations marking the 225th anniversary of the French national Day. “The French and European companies should have been the first ones to invest in Africa because they are near. There is a strong linkage between the African continent and Europe because of the European languages that are widely used,” said Museveni. He invited more French and European companies to invest in Africa and Uganda in particular. President Museveni said that today we have the opportunity to solve the past mistakes. He said that trade would create good relations on the international scene. Read more ▪  Museveni Cautions on Investment Red Tapes President Museveni has commissioned a newly built multi-million dollar industrial complex belonging to Tian Tang Group of Industries from the People’s Republic of China.He appealed to all leaders and citizens of Uganda to give the necessary support and incentives to industrialists who come to invest in Uganda, noting that the country’s future lies in industrialization and a vibrant service sector. The industrial complex, located on a 33 acre land, is located in Mbalala in Mukono district and is involved in the production of steel and steel products, wood, and leather products as well as mattresses. It employs more than 1,000 people directly and thousands indirectly. President Museveni, who was accompanied to the inauguration ceremony by his wife and Karamoja Minister Mrs. Janet Museveni, asked all Ugandans to give support to investors who come to Uganda. Read more ▪ Ethiopian Investors Eye Uganda Garments Industry President Museveni has received a delegation of Ethiopian investors led by the Chief Executive Officer (CEO) of Edget Yarn and Sewing Threads Company, Princess Mulunes.The businessmen called on Museveni on Thursday evening at his country ranch in Kisozi, Gomba district.Princess Mulunesh expressed her company’s interest in establishing a garments factory in Uganda.President Museveni warmly welcomed the investors to Uganda and assured them that Uganda grows the best quality cotton.He pledged government’s support to their venture.Read more ▪ President Museveni: UK Investors urged to Invest in Food Processing President Museveni has called on the UK-based Hinduja Group to undertake investments in fruit and maize processing in Uganda through establishing fruit processing factory and maize mills in order to process what farmers are producing. He also called on the Group to provide market for the famers to sell what they have harvested.“I encouraged my people to grow fruits and maize that need processing and marketing which is my big pressure”, he said.The President was Saturday meeting with a delegation from the Hinduja Group who called on him at State House, Entebbe. The visitors were led by the Company President Mr. Rakeshh Gupta.Mr. Museveni told his guests that Uganda grows a variety of fruits such as pineapples, mangoes and oranges, among others that require immediate processing.He also called on Hinduja Group to also establish iron processing factories in the country to manufacture high quality steel and participate in the manufacture of cement. Read more ▪  President Museveni in Busoga Poverty Eradication Campaign President Yoweri Museveni has said the pre-occupation of every Ugandan should be on how to boost household income, better their earnings and get out poverty and that household poverty was the main challenge facing Ugandans and overcoming it called for every one’s input. The President who is on a poverty eradication campaign in Busoga sub-region made the remarks while addressing a public rally at Budaya sub-county headquarters in Bukooli central Bugiri district. The President said that he was not ready to engage in politics that have no solutions to the needs of Ugandans especially income generation or even continue to engage in the continuous demand for the provision of development infrastructure by the politicians yet where these infrastructure have been and are available are surrounded by a poverty stricken population. He said that poverty in Uganda is largely a result of lack of attitude change as the population has failed to adhere to the message of adopting modern commercial oriented farming as a way of overcoming poverty. Read more ▪  Museveni, Kagame To Woo Global Investors at UK Summit Government is in final preparations to showcase her vast investment opportunities during the Global African Investment Summit which will take place in October in London. President Yoweri Museveni of Uganda alongside his counterparts, the Presidents of Rwanda, Ghana and Tanzania have already confirmed their participation at the event expected to host over 400 private sector investors seeking public and private partnership investment opportunities in Africa. As part of the preparations, Prime Minister Amama Mbabazi on Tuesday received Mr. Paul Sinclair the Events Coordinator and Amanda Basi the Events manager, to discuss the preparedness of Government and the key investment opportunities in the areas of energy, oil and gas, agriculture and infrastructure development. Read more ▪ President Museveni: Aquatic micro-crops cultivation to promote animal feed production▪  President Yoweri Museveni said he is aiming at achieving 20 billion litres of milk per year for the local, regional and international market, clarifying that Uganda's problem has been processing The President was yesterday meeting Amos Dairy Investors led by their Chairman, Dewan C. Pruthi, and co-chairmen Punit Pruthi and Surinder Chawla at State House Entebbe. The investors will officially open their milk plant at Akageti, in Kiruhura district which will process over two million litres of milk per year, according to Sarah Kagingo, the President’s Special Assistant for Communications. Another new plant in Mbarara, Pearl Dairies is already producing over 200 litres of processed milk per day. "On the issue of farm improvement, am going to talk to the farmers to handle this. In the past, there was no demand for milk or beef but now with the demand going up, we shall have to improve our farms. We did not have processors before but once we have these, it is easy to work backwards," he said. Read more ▪ Museveni bans collateral on SACCO loans▪
President Yoweri Museveni has directed Savings and Credit Co-operative (SACCO) managers to stop asking for collateral from people borrowing loans in SACCOs.The President emphasized that government started SACCOs to help ordinary people who do not have security to get loans and develop themselves.The directive followed a complaint by Sheema district Woman MP Rosemary Nyakikongoro that people were not benefiting from SACCO loans because of being asked for collateral security as a condition.“When we started SACCOs they were meant to be security-free for the ordinary person to access the loan and develop themselves because collateral securities were failing people to get loans in commercial banks,” said Museveni. Read more ▪ Museveni: tourism creates incomes, provide jobs President Museveni has reiterated his call to the people of Buyende district in general and Kagulu sub-county in particular to make Kagulu hill an attractive tourist site for both adventure and leisure that will in turn provide them with the opportunities to become service providers who will create a lot of wealth.“A service sector like tourism creates opportunities for service providers like those who sell food and drinks, transporters and later accommodation for tourists,” he noted.The President was the guest of honor at a tourism promotion drive led by Busoga Tourism Initiative at a ceremony marred by heavy rain at Kagulu hill in Buyende district.Kagulu hill is one of the tourist attractions in Busoga sub-region that is to be transformed into one of the countrys’ modern sites. Read more ▪ President Yoweri Museveni met and held talks with the chairman and president of the Export-Import Bank of China (EXIM), Mr. Li Ruogu, who paid a courtesy call on him at State House Entebbe .The President and his guest, discussed details of the financing arrangement for 600 MW Karuma Hydropower dam.They also talked about the 188 MW Isimba Hydropower Dam and other issues of mutual interest.Construction of Karuma is expected to cost US$2b with EXIM bank meeting 85% of the funding while Uganda will commit 15% of the cost.The loan will be repaid in five years.Mr. Li Ruogu has been in Uganda for a four-day visit during which he held talks with officials from various ministries and also visited cites of projects financially supported by EXIM Bank of China.Read more ▪  China Communications Construction Group, who are building the Entebbe-Kampala Highway, are also interested in supporting Uganda boost cement production in Karamoja and rebuild the railway lines.President Yoweri Musevenit yesterday met the Chairman and President of China Communications Construction Group Chen Fenjian. The firm is responsible for the construction of the Entebbe-Kampala Highway which will link the town of Entebbe in Wakiso District to the city of Kampala.Chen Fenjian assured Museveni that the project that started in November 2012, will be completed on time in 2016. He revealed that his group is also interested in cement production in Karamoja sub-region, the construction of the railway lines in Uganda and the building of Kampala to Jinja high way.President Museveni said in order for investors to compete favourably on the market, government has prioritized infrastructure development such as electricity, construction of roads, railway lines and ICT that greatly impact on the cost of doing business.Read more ▪  President Museveni, who is on a three day working visit to the United Kingdom, has today opened the UK-Uganda Business Conference at Lancaster House in London. The President who arrived in the country on Monday is accompanied by the Minister of Foreign Affairs, Sam Kutesa, Energy Minister, Irene Muloni, Finance Minister, Maria Kiwanuka, Works Engineer Byandala, Lands Migereko, Minister of Trade and Industry, Amelia Kyambadde, the Deputy Governor of Uganda, Dr. Kasekende, Honourables Fred Mwesigye and Stella Lamoe. The conference was jointly organised by the Uganda Investment Authority and the Commonwealth Business Council, according to the Presidential Special Assistant for Communications, Ms Sarah Kagingo. Delivering a Keynote address to the conference this morning, President Museveni explained that Uganda needs only investors with money. Read more ▪ President Museveni : Shs300b Budaka factory fails to open Business is yet to commence at the Mugiti cement factory, about one year after it was commissioned.The Shs300 billion establishment, located in Namamba village, Mugiti Sub-county, was commissioned by President Museveni in 2012.A visit to the site, approximately 2km off Mbale-Tirinyi Road, shows that there is no construction despite the colourful ground-breaking by President Museveni that drew thousands of people. The investment under DAO Africa Ltd, a subsidiary of the Kuwait-based DAO Group, is seated on 25 acres of land.DAO-Africa Cement factory was expected to be the third cement factory after Tororo and Hima factories, and offer about 10,000 jobs to the youth in the area. Read more ▪ President commissions multibillion Mbale market complex A sh26.9b market was Tuesday commissioned with an assurance to the vendors that the sitting tenants will be given first priority in the allocation of stalls.While commissioning the market complex President Museveni assured Ugandans that inspite of the lies spread by some people the truth always come to light."You have been hearing that the NRM promises air, this is the NRM that promised to fight Amin and UPC and it has done it.The lie gets up very early to travel but the truth always finds it there. There is no way NRM can promise air, he said.”The President gave the assurance while commissioning Mbale Central Market in Mbale town which is one of the seven markets government has built under the Markets and agricultural Trade Improvement Programme – MATIP. Read more ▪ President Yoweri Museveni has urged the people of Ntungamo district to maximally exploit their land by practicing modern commercial farming in order to effectively eradicate poverty at house hold level. “How can one fruitfully utilize say four acres of land? One acre should be for clonal coffee, the other for fruit trees, the third for elephant grass and the fourth for banana plantation. At the back yard add poultry, apiary and piggery among others. I have come to re-ignite among you the fight against poverty. Every family must work hard and create wealth, we want to eradicate poverty,” he said.The President, who was accompanied by the First lady who is also Minister for Karamoja Affairs Mrs. Janet Museveni, the area MP, made the remarks while addressing residents’ of Kikoni Model Parish at Mutanoga Primary school grounds, after assessing the progress made by farmers now practicing modern agriculture in the area. Read more ▪ President Yoweri Museveni has called on Turkish entrepreneurs to tap the abundant opportunities that Uganda has in value addition of agro-products and minerals. He specifically urged them to work out projects in relation to value addition to the maize crop that Uganda produces, leather and minerals such as cement and iron ore. He also concurred with the proposal to build hotels to cater for the budding tourism industry.The President was meeting a delegation from Kolin Construction, Tourism, Industry and Trading Company which is incorporated in Turkey. Read more ▪ President Yoweri Museveni has assured the Indian community in Uganda that Uganda is their home and that they are safe. “I want to assure Indians in Uganda that this is your home. The indigenous should not tease you that you are not Ugandans. Africa has been able to develop because of the contributions from migrant tribes”, he said.The President observed that Idi Amin was wrong theoretically, philosophically, historically and technically when he told Indians living in Uganda to leave the country.The President was speaking at the wedding reception of Mr. Altaf Lalani and his bride Ms. Sukhvinder Kaur, sister of Hon. Katongole Singh Marwaha which was held on Monday evening at Kati Kati Restaurant Lugogo by-pass in Kampala. Read more ▪ President Yoweri Museveni has said that despite Uganda and the African continent being endowed with abundant natural resources, the continent is the least developed because of lack of the necessary skills to tap the resources and put them to good use for her people."Although something has been done in intellectual awakening of the population, more needs to be done especially in skilling the population to be able generate wealth, multiply it and preserve it for future generations," he said.The President was yesterday speaking during the Ntare school old boys annual re-union during which occasion the school also cerebrated 58 years of her existence. The President is an alumnae of Ntare school and the patron of Ntare School old boys association. Read more ▪ The Karuma hydro-power project, worth about Sh.4.3 trillion ($1.7billion) has commenced with the construction of two big underground access tunnels and access roads at the site.The eight month old construction of the 600 megawatts dam was commissioned by President Yoweri Museveni, who said 85% of the funding will be procured by Sinohydro Corporation Ltd, a Chinese firm with a soft loan from Exim bank and the Uganda government will cater for the 15%.The two access tunnels which are to measure 1400 metres from upper stream to down stream are to be for transporting materials to the power house, according to the deputy project manager, Liu Jianguo.Jianguo said another diversion tunnel for water which be 607 metres will be constructed later on the northern side of River Nile after the completion of the two tunnels and power house on the southern side. Read more ▪ President Yoweri Museveni has emphasised the importance of devising means through which more investors can be attracted to come and do business in Uganda.Museveni was addressing the opening session of the two-day fourth phase of the Presidential Investors’ Round Table at State House Entebbe.He said the seemingly productive activities of the economy are only transport and restaurants, but not the manufacturing sector.Museveni said the inability to manufacture our own goods leads directly to the challenge of job creation.The President commended Uganda’s development partners and consultants for their contribution to the development of the economy over the years. Read more ▪ President Yoweri Museveni, who is now in Brussels, Belgium for the 4th European Union (EU) – African Heads of State and Summit, has held a meeting with Prof. Dr. Xavier Gellynck from the University of Ghent’s faculty of Bio-Science Engineering. Prof Gellynck presented to President Museveni a proposal to introduce the growing of artemia, a type of food that is used to feed fish fries. The don said the feeds help in playing a major role in steady increase of fish numbers in water bodies. The academic also presented another proposal centred on the improvement of the dairy sector in Uganda in as far as production, processing and marketing of milk and milk products, is concerned. President Museveni also received a delegation of potential investors from a firm known as Packo Inox NV, Belgium, led by the Managing Director, Mr. Johan Ameel. The President and his guests discussed possibilities of the Belgian-based firm contributing to the improvement of the dairy value chain in Uganda using and preserving natural resources. Read more ▪  A group of Chinese energy development officials have met and held discussions with President Yoweri Museveni at State House, Nakasero. The team that was this weekend led by the President of Guangzhou Dongsong Energy Group, Mr. Lv Weidong, discussed with the President issues pertaining to the economic development of Sukhulu Phosphates project in Tororo district where the group is planning to extract phosphate and also establish a fertilizers factory. President Museveni and his guests agreed on the importune of the project geared towards the economic transformation of Uganda. Mr. Lv Weidong assured the President that his group will deliver because they are committed to assisting Uganda in her quest for economic transformation. Read more ▪ President Museveni meets Turkish investors Ugandan President Yoweri Museveni received a group of Turkish investors who called on him at State House Nakasero on Saturday.During the meeting, Rusan Dundar, who is the board chairman of Toscano Company, said he was interested in manufacturing agricultural machinery in Uganda.He said he would boost mechanized farming in the country.The chairman told Museveni of his readiness to engage in massive production of maize and adding value to the product.The group was accompanied by the minister of agriculture, animal industry and fisheries, Tress Buchanayandi. Part of the team was the chairman of Uganda Global Business Association, Alper Bayazit, and the Association’s secretary Lokman Cinar. Read more ▪ Uganda Gets First $47m State-of-the-art Steel Coating Factory President Yoweri Museveni has launched a state-of-the-art steel manufacturing plant in Jinja under the flagship of MM Integrated Steel Mills (Uganda) Ltd.At a function attended by all political and religious leaders from the area, the President who was evidently pleased by the multibillion and highly mechanized project in his country expressed gratitude to the proprietors and promised to help them in all ways possible. “In Africa, most of our people employ body muscle rather than technology to carry out activities; fetching water from the well, carry pots on the head. Africa must evolve from employing bodily muscles to mechanised activities. I am, therefore, very happy that our friends have put up such a mechanised plant," said the President on Tuesday. Read more ▪ Uganda Has Big Investment Potential, says Museveni President Yoweri Museveni has asked the foreign investors in Uganda to tap into the investment opportunities available in the country, especially in the areas of Agro–processing, and other minerals which have been discovered such as phosphates, iron ore, wolfram, among others. He was yesterday speaking as the Chief Guest at the Commissioning of the Multi-billion Galaxy International School in Uganda at Lubowa, Wakiso District. According to the President’s Special Assistant for Communications, Ms Sarah Kagingo, Galaxy International School is one of the six schools established by the Turkish investors in Uganda. Some of the other schools include; Turkish Light Academy Nursery school Lweza, Kigo, Galaxy International school in Jinja, Turkish Light academy Primary School, among others. The President said that much of Uganda's produce like coffee and maize is not processed, and that much of the maize is exported to Kenya as grain. Read more ▪ President Yoweri Museveni has called for the protection of government land including that vacated by refugees saying it can be used to attract investors who will build growth centres to attract people from poverty.The President was Tuesday presiding over the ground breaking ceremony for a US$300million, 18 square miles facility that will also house a beef production zone, host a world class abattoir to consume about 400 cows a day, breeding of new strains of livestock, feeding and production areas, slaughter houses, packing facilities and maintenance hall for the cattle depository. The development follows an earlier meeting in 2012 during which President Museveni held talks with the Turkish investors led by the ASB Group Chief Executive Officer (CEO) Sitki Ayan over business opportunities in Uganda particularly the creation of a special economic zone.The President warned Ugandans against land fragmentation saying it creates problems and does not attract investments said there is a lot of market in Turkey for products such as coffee which will be produced and processed here before export. Read more ▪ Uganda’s economy continues to soar and by the end of the 2014/15 financial year, economists have predicted that it will have hit $28b (about sh70 trillion).Addressing NRM legislators at the National Leadership Institute in Kyankwanzi, President Yoweri Museveni noted that as a result of tackling market challenges and more exporting opportunities, the economy is bound to grow.Museveni made the remarks while opening the NRM 10-day retreat, where the executive and the party MPs will discuss the rising bank interest rates, corruption and the 2016 party manifesto.The President noted that in the last 28 years Uganda has expanded 16 times, from GDP of $1.5b to $24b today.“By the end of the 2014/15 financial year, our economy will be $28b. The size of the GDP depends on the foreign exchange rate. When the Uganda shilling appreciates, as it is bound to when we start oil and other minerals minning, the size of the GDP will rapidly grow,” the President said. Read more ▪ Museveni, Mutebile caution banks on customers’ savings President Museveni has cautioned managers of financial institutions against exposing customers to unnecessary risks, saying management has to go an extra mile in supervising lending which could be a recipe for disaster if not well monitored.The President’s caution was particularly aimed at the management of the Finance Trust Bank that has upgraded to a commercial bank after operating as a Micro Finance Deposit-Taking Institution for years.According to Mr Museveni, the expanded roles of the commercial bank demand for more stringent supervision as the risks involved also get bigger and complex. And if it is badly managed, he argued, will expose customers to unwarranted risks, something that the bank should guard against and not let it happen. Read more ▪ President Yoweri Museveni has called on entrepreneurs to take advantage of the enabling environment created by the NRM government to fully explore the available business opportunities and advance themselves economically. According to the President’s Special Assistant for Communications, Ms Sarah Kagingo, Mr Museveni made the call this weekend at the official launching of Finance Trust Bank at Kampala Serena Conference Centre. Finance Trust Bank, which has been a Micro Deposit Institution (MDI) at tier III level has transformed into a fully fledged tier I Commercial Bank. Mr. Museveni noted that despite the current business friendly environment, only 32% of the populace in Uganda is in the money economy while 68% are engaged in subsistence farming. Read more ▪ President Yoweri Museveni: Uganda Can Compete In Regional Trade President Yoweri Museveni has strongly dismissed claims of Uganda not competing favourably with other member states as insinuated by numerous critics of Uganda as far as East Africa regional trade agreements are concerned. The president says Uganda has the potential to perform better than other countries in the region.He further said Uganda should adopt economic policies from other economies which have yielded results like Malaysia, China and South Korea. Read more ▪ President Museveni: France to increase investment in country President Museveni’s call to attract investors to Uganda seems to be getting heard with France’s ambassador to Uganda declaring the same as top of her priorities during her time of diplomatic service.Ms Makame, who presented her credentials two months ago to President Museveni, said. “Sustaining the trend of France’s economic involvement in Uganda is key on my priorities, and France’s foreign policy objectives in Africa. Read more ▪  President Museveni: Dutch To Build $1.5m Shipyard In Jinja President Museveni's recent visit to the Netherlands has attracted the Dutch ship-builders whose 1.5 million dollar investment to construct a shipyard in Jinja and build vessels to ferry cargo across Lake Victoria is in advanced stages.The group is to establish a ship-yard at Masese in Jinja Municipality as well as a modern maintenance and repair facility for all the vessels plying Lake Victoria from all countries bordering the water body. Read more ▪  World Bank pledges US$200m for electricity The World Bank is committing US$200m (about sh500b) to funding energy projects in Uganda, especially the rural electrification programme, as part of its refocused development support to the country.Makhtar Diop, the World Bank vice-president, disclosed that during a meeting with President Yoweri Museveni, and later with the Cabinet, they agreed on five priority areas; infrastructure, energy, education and skills as well as agriculture. Read more ▪ Gov’t to buy shares in Air Uganda: Museveni, Aga Khan discuss deal The Uganda government will buy shares in Air Uganda currently owned by the Aga Khan. This was reached in a meeting between President Yoweri Museveni and H.H the Aga khan. Headquartered in Kampala, and with its operations base at Entebbe International Airport, Air Uganda uses a fleet of five aircraft to operate scheduled flights from Entebbe to various countries in Eastern and Central Africa.Meridiana Africa Airlines (Uganda) Limited is 100% owned by the Celestair Group, which in turn is owned by the Aga Khan Fund for Economic Development (AKFED). AKFED also controls Air Burkina and Air Mali, the national airlines of Burkina Faso and Mali respectively, and has an interest in Europe in Meridiana fly. Read more ▪ Museveni urges Chinese investors on infrastructure dev’t President Yoweri Museveni has said that government is ready to work and cooperate with all those people of goodwill who want to invest in areas of importance to national development such as in the works and transport sector.The President was speaking at a meeting with a group of Chinese investors from China Civil Engineering Construction Corporation (CCECC) led by its president and director Yuan Li who called on him at his country home in Rwakitura, Nyabushozi County in Kiruhuura district. Read more ▪ President Yoweri Museveni: UK, Israeli investors set sights on Mukono, Karamoja projects United Kingdom-based Cormac Infrastructure Ltd has set sights on the construction of an ultra-modern specialist hospital in Mukono District. President Yoweri Museveni has said the government will give full support to the company, whose officials have been in the country to explore the modalities of the project. Steve Corbett, who led the team, told the President at State House in Entebbe on Nov.12 that they also plan to secure funds from the U.K government and from the European Union to invest in the infrastructure development in Uganda.He said they plan to construct a 700-bed hospital in Mukono District at a cost of $574m (about Shs 1.5 trillion) with facilities to handle specialized management of ailments involving major body organs such as heart, lungs, liver, brain surgery, spine injury, accidents, emergencies and maternity among others. Read more ▪  Gov’t To Construct Shs184bn Karamoja Road President Yoweri Museveni has strongly cautioned the people of Karamoja against felling useful trees that are of industrial use like the Gum Arabic required in the production of beverages. Read more ▪  Museveni commissions 1,700 new housing units in Naguru Uganda could become home to the biggest shopping mall in East Africa after the completion of the Shs4 trillion Nakawa-Naguru modern satellite town project whose construction was commissioned by President Museveni. On completion, the satellite town, eight years behind schedule, will also host recreational facilities, places of worship, Nakawa Division headquarters, a five-star hotel, a referral hospital, and schools on the 160 acre estate. Also proposed is a shopping mall and more than 1,747 flats, bungalows and commercial blocks for sale. ▪  Museveni Breaks Ground For Shs1.4tn Isimba Power Dam President Yoweri Museveni has hailed the Government of the People’s Republic of China for supporting Uganda in the development of hydro- power generation that will accelerate the industrialization process as it is one of the prerequisites for the modernization of the country. "I am happy to perform this ceremony of ground breaking for the construction of Isimba power station that will provide electricity that will help Uganda especially in running industries,” said Museveni. Read more ▪ Government set to remove direct taxes on mining activities The government has said it will remove direct taxes on all mining activities in the country which are discouraging investments in the sector. The directive was given by President Museveni on while closing the second annual mineral conference that brought together investors and development partners in the mining sector. “I’m going to tell the [Finance] minister to remove these direct taxes because they do not make sense at all to me,” he said. Read more ▪  Come and invest home – Museveni tells diaspora President Museveni has challenged Ugandans living in the diaspora to invest home because even the natives of countries like US and Canada where they live sacrificed and invested heavily to develop them. In a speech read for him by the Vice President Edward Ssekandi President says “Government has since 1986 worked hard to address all key bottlenecks hindering development, among them security. Please invest home to develop our country”. Read more ▪    New Nile plant takes beer closer to western market Ruharo is home to Nile Breweries Limited (NBL)’s new plant in Mbarara. It is the company’s second. President Museveni officially launched the brewery, although it had started production in March this year. The factory, valued at $90.6m (approx Shs 233bn), according to NBL officials, is expected to open up opportunities not only for the residents in Ruharo, but also to farmers in the region, who will supply the plant with raw materials. The Ruharo project, NBL says, is part of the $200m (approx Shs 520bn) expansion plan that NBL intends to execute. “We have the capacity of producing 5.5m crates of beer per annum, expandable to 180m litres,” said Nick Jenkinson, the managing director at NBL Uganda. ▪   President Museveni has hailed beer company, Nile Breweries Ltd (NBL), for creating jobs and revenue opportunities to farmers and government. While opening the new NBL brewery plant in Mbarara District, the President said: “In the past beer was manufactured using imported cereals yet we had cereals here. Why do we use imported cereals when we have sorghum and maize here? By buying from the local markets, beer companies have improved what we call forward and backward linkages.” Read more ▪ Luwero to become top agriculture zone – Museveni President Yoweri Museveni, who is on a poverty eradication drive in Luwero district, has vowed to make Luwero Triangle a model zone for the rest of the country to learn modern commercial agriculture.The fresh campaign targets NRM veterans, many of whom supported the NRA, during the liberation struggle. Read more ▪   Museveni and Former Malaysian PM urge technology and industrialisation Ugandan President Yoweri Museveni and former Malaysian Prime Minister, Dr Mahathir Mohamed are urging African governments, including Tanzania to get rid of dependence on agriculture as mainstay of their economies. Dr Mohamed and President Museveni who attended the Global Smart Partnership Dialogue held in Dar es Salaam last week urged that the continent should not continue condoning a colonial legacy of producing and exporting commodities. ▪ | |