Investors Express Confidence in Uganda's Economic Future Under Museveni's New Term

Investors in Uganda are signaling increased confidence in the nation’s economic trajectory as President Yoweri Kaguta Museveni begins his seventh term. Following his recent election victory, prominent local and international investors have committed to expanding job opportunities and backing the government’s economic development strategy, themed ‘Kisanja: no more sleep.’

Ashish Monpara, chairman of Modern Group of Industries, highlighted this new term as a crucial period for strengthening institutions, empowering the youth, and driving industrialization. He believes Uganda has the potential to become a continental economic success story, emphasizing that strategic, long-term decisions made now can shape future generations. Monpara reaffirmed his commitment to supporting Uganda’s industrialization agenda, citing peace and stability as vital for continued investment.

The Indian Association, represented by its leadership including chairman Dharmesh Patel and trustee Sudhir Ruparelia, also conveyed their support. They praised Museveni’s leadership and pledged to foster investment and job creation. The association also committed to continuing philanthropic efforts, including medical assistance for vulnerable populations.

Amos Nzeyi, Executive Chairman of Crown Beverages Limited, commended the NRM government for cultivating a business-friendly environment that promotes economic transformation and industrial growth. He reiterated his company’s dedication to contributing to Uganda’s development.

Evelyn Anite, the outgoing State Minister for Privatization and Investment, lauded President Museveni’s focus on wealth creation and economic transformation under the ‘no more sleep’ initiative. She noted the government’s significant investments in infrastructure like roads and electricity, which create an enabling environment for businesses. Anite pointed to the creation of approximately 2 million jobs in the manufacturing sector over the last five years, expressing optimism for further job growth if momentum is maintained, particularly in manufacturing, commercial agriculture, and IT.

President Museveni himself has emphasized a strong drive towards wealth creation, economic transformation, and industrialization in his seventh term. Key priorities for investment include commercial agriculture, ICT, manufacturing, and services, as he urges all Ugandans to embrace this period of intensified productivity.

Source: Daily Monitor (Uganda)