During Uganda’s 62nd Independence Day celebrations, held at Busikho Teacher’s Primary School grounds in Busia District, President Yoweri Museveni called on Ugandans and Africans at large to move beyond raw material exports and focus on industrialization to secure the country’s and the continent’s economic future.
Museveni said Africa’s economic challenges stem from an 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. For instance, Germany, a non-coffee-producing country, earns $65 billion more than all the world’s coffee-growing nations,” Museveni said.
The president outlined steps Uganda has been taking to reverse this trend, particularly through initiatives aimed at integrating more citizens into the “money economy.” He lauded programs like the National Agricultural Advisory Services (NAADS), Operation Wealth Creation (OWC), and the Parish Development Model (PDM) for their role in uplifting 67% of Ugandan households into income-generating activities, with only 33% still left outside the money economy.
Museveni also provided a positive economic forecast for the nation, stating that Uganda’s economy is projected to grow to $57 billion by June 2025, even before the country begins oil extraction.
“By continuing our steady focus on initiatives, we are poised to grow the economy to over $500 billion,” he said.
In addition to economic transformation, the president reiterated his vision for African unity, urging Ugandan patriots and Pan-Africanists to promote economic integration across the continent, particularly within East Africa.
“All patriots and Pan-Africanists in Uganda should connect with our brothers across Africa to promote economic integration throughout the continent and East Africa, ultimately leading to a political federation of East Africa,” he urged.
Museveni also stressed the importance of patriotism as the foundation for Africa’s prosperity and strategic security. Without it, he warned, Africa risks suffering the same fate as Latin America, where economic stagnation and widespread misery have become evident.
