Museveni said the Private sector is the easiest way to develop the economy because companies do the work of government cheaply.
10- M7 chairs the Presidential CEO Forum
Yoweri Museveni has called upon the Private sector to support the Parish
made the remarks while speaking on Thursday during the second Bi-annual
Presidential Chief Executive Officers Forum (PCF) which he hosted at his
country home in Irenga, Ntungamo District. The meeting was held under the
theme, 'Positioning the Private Sector for New Markets and Business
Opportunities for Sustainability and Thriving Economies in the Region and the
campaign which is on now, the Parish Development Model is aimed at bringing the
68% of Ugandans who are by-standers in development, to get involved in economic
transformation. What is coming is an earth shaker. Before, leaders did not know
how to lead. They thought that leading is carrying the burden of their people.
Leading is showing the way so that they follow. Those with small acreages of
land will select enterprises that have big returns like coffee, fruits,
poultry, piggery, etc. With intensive agriculture, people can use their small
land to get out of poverty,” the President said.
was accompanied by his wife who is also the Minister of Education and Sports
Janet Kataaha Museveni said the aim is to convert Ugandans who are bystanders
in the economic transformation struggle into active participants.
them to do so with a ‘calculation’ for increased production. The Private sector
will be overwhelmed. In Bushenyi, Dr. Muranga used to get 5.3 tons of bananas
but now gets over 53 tons, over ten times because of fertilizer and irrigation.
Before you were dealing with limited mobilization of the masses, but with this grassroots mobilization, it will be massive,” he said.
said the Private sector is the easiest way to develop the economy because
companies do the work of government cheaply. “For instance, the government is
not the one looking after our home here. We do it ourselves and in the process,
we produce bananas and milk for you in Kampala to consume happily. That's
why we are encouraging the local people like the father of Barbara Mulwana, we
also brought back our Indians the ones who had been chased by Idi Amin. If you
want to have some government companies you can have them but they shouldn't
interfere with the private Sector," he said.
things, the President pledged to promote the protection of local products from
Chinese and Indian subsidized products, provision of cheaper power for
production, cheap financing for the Private sector to borrow, and support for
Kampala Capital City Traders Association-KACITA.
committed to that. I was not willing to finance KACITA but they are now
pledging to do more export of our products than imports. If KACITA can sell
internally and export we can support them,” he said.
the CEOs discussed in-depth the issue of exploiting the vast trade potential
with DR Congo including the provision of an export credit guarantee, expanding
power to DR Congo, funding the Uganda Air cargo, construction of toll roads
into DR Congo, and empowering the National Broadcaster UBC to broadcast
across the border.
discussed the issue of the appointment of a commercial attaché who can speak
various languages to Uganda’s foreign missions, lifting the ban on Facebook to
allow online business since URA has now put in place mechanisms to tax online
businesses and provision of cheap power for production.
Minister, Nabbanja Robinah briefed Museveni on the country-wide awareness about
the PDM and said people are generally excited and anxious to finally undertake
in enterprises that will put money in their pockets.
of Finance, Planning, and Economic Development, Matia Kasaija informed the CEOs
that the government is financing local actors through Uganda Development Bank and
therefore they should visit there when the need arises.
Mulwana, the Chairperson of PCF on behalf of the CEOs said that their mission
is to promote, harness, and popularize the private sector involvement in
providing a platform that advocates for appropriate legislation, practices, and
policies that eliminate bottlenecks to economic development.
noted the forum proposes to highlight the need for strategic positioning of
Uganda's Private Sector for new markets and business opportunities that can
foster economic transformation. She said their focus is on exploiting new
market opportunities, Oil and Gas sub-sectors, private equity to speak to
capital availability, and the African continental free trade area.
Katongole the Vice Chairman of PCF assured Museveni of their solid support for the economic development of the country.
is developing and unleashing the power of enterprise to unite our country. We
can develop without aid. Aid should be good if it ends future need of aid,” he
launched PCF in 2020, noting that the Forum will help the government identify
bottlenecks to business and economic growth in the country.
was also attended by the Minister of Trade Industry and Cooperatives, Mwebesa
Francis, Keith Muhakanizi Permanent Secretary in the Office of the Prime
Minister, Geraldine Ssali Permanent Secretary in the Ministry of Trade,
Industry and Cooperatives, Ramathan Ggoobi Permanent Secretary for Finance and
Dr. Ruth Biyinzika of Private Sector Foundation Uganda among