Ugandan President Yoweri Museveni has sounded a warning call to Africans, emphasizing the need to shift focus from raw material exports to industrialization to secure the continent’s economic future.
Speaking at Uganda’s 62nd Independence Day celebrations in Busia District, Museveni stressed that Africa’s economic challenges stem from its over-reliance on exporting raw materials.
“The problem with Africa and other former colonies is their focus on producing only raw materials, which has been detrimental to the continent,” Museveni said, citing Germany’s impressive earnings of $65 billion more than all coffee-growing nations combined.
Museveni highlighted Uganda’s initiatives aimed at integrating citizens into the “money economy.” Programs like the National Agricultural Advisory Services, Operation Wealth Creation, and the Parish Development Model have uplifted 67% of Ugandan households into income-generating activities.
Uganda’s economy is projected to grow to $57 billion by June 2025, with potential growth to over $500 billion, Museveni said. He reiterated his vision for African unity, urging Ugandan patriots and Pan-Africanists to promote economic integration across the continent, particularly within East Africa.
Museveni emphasized patriotism as the foundation for Africa’s prosperity and strategic security, warning that without it, Africa risks suffering the same fate as Latin America, where economic stagnation and widespread misery have become evident.
Museveni’s call to action echoes his previous warnings against frustrating investors and the importance of value addition and research cooperation with countries like Vietnam.
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