Business 5 October 2026 Daily Monitor (Uganda)
Museveni Touts Four Pillars for Africa's Economic Growth and Integration
President Museveni has outlined a strategic vision for Africa, emphasizing the critical link between security and economic development. He urged African leaders to focus on four key sectors to drive prosperity and poverty reduction across the continent. Source: https://www.monitor.co.ug/uganda/news/national/museveni-outlines-strategy-to-lock-in-africa-s-shs719-trillion-trade-gains-5620240
President Yoweri Museveni has called for a dual focus on economic integration and security as essential elements for sustainable development across Africa. Speaking at the Alamein Africa Forum 2026 in Egypt, represented by Vice President Jessica Alupo, Museveni stressed that progress in one area is dependent on the stability provided by the other.
“No economy can thrive, no infrastructure can endure, and no market can integrate in an environment of instability,” the President stated, highlighting the need for robust security to underpin economic ambitions. He urged African governments to increase their internal funding for defense to effectively manage emerging crises and ensure a peaceful continent.
To foster economic growth and reduce poverty, Museveni identified four core pillars for development: commercial agriculture, industry and manufacturing, services, and information and communications technology. Prioritizing these sectors, he believes, will be crucial in lifting families out of poverty and integrating them into the commercial economy.
The President also addressed market access challenges, encouraging African nations to overcome ideological barriers and build seamless cross-border infrastructure. He emphasized the importance of unifying national markets to create a foundation for a modern, industrialized Africa.
Museveni pointed to significant growth within the East African Community (EAC), noting that intra-EAC trade has expanded considerably, reaching approximately Shs719.5 trillion ($181.6 billion). This growth, he argued, underscores the need to accelerate initiatives for a single African currency to further boost commerce. He highlighted that platforms like the EAC, COMESA, and the AfCFTA offer access to a combined market of 1.4 billion people, which is vital for supporting large-scale production and achieving economic self-sufficiency.
The Alamein Africa Forum 2026, co-organized by Egypt, the African Export-Import Bank, and the African Union Development Agency-NEPAD, brought together over 20 heads of state and other key stakeholders to discuss the continent’s future.
Source: Daily Monitor (Uganda)