Jonathan Lukangi
Aug 19, 2023
min
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Uganda’s President Museveni Calls on Diaspora to Invest in The Country

President Yoweri Kaguta Museveni has called on Ugandans living in the diaspora to invest ‘back home’ and help develop the country
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President Yoweri Kaguta Museveni has called on Ugandans living in the diaspora to invest ‘back home’ and help develop the country. Addressing the closing ceremony of the 2023 Canada National Resistance Movement (NRM) Chapter Symposium held at the Woodbine Hotel in Toronto, via Zoom, Museveni urged Ugandans living in Canada to interest their friends in investing in Uganda.

“Your country is moving forward, so it would be good if you participate by bringing your foreign friends to invest with us, or even you yourself if you can collect your small money and add it up and put it into some of these enterprises. By combining savings, we can do more work,” Museveni told the over 300 that participated in the symposium.

HE. Yoweri Kaguta Museveni
HE. Yoweri Kaguta Museveni


The two-day symposium which took place in Toronto, Canada, ran under the theme: “Dialogue, Unity and a Prosperous Diaspora

There could be more than 3 million Ugandans living and working outside the country, according to the International Organization for Migration (IOM). Remittances from these Ugandans amounted to more than US$1bn by July 2022, according to figures released by the Bank of Uganda. Most of this was from the USA and Canada.

Museveni told the Canadians that while Ugandans are highly educated and qualified, they lack money. He said while the government has been supporting them to start innovations, it would be good if each of the citizens also contributed and invested something small.

He pointed out the electric cars and buses being produced by Kiira Motors, plus the planned production of electric batteries; and the ‘pathogenic economy’, which is an economy from diseases. He said the country is already manufacturing vaccines and drugs.

The ceremony was also addressed by the Third Deputy Prime Minister and Minister Without Portfolio Rukia Isanga Nakadama, the Chairperson of the Canada NRM Chapter Fred Kinene, and the High Commissioner to Canada Amb. Joy Ruth Acen. It was also attended by the Minister for Presidency Milly Babalanda, the NRM Deputy National Treasurer Jacqueline Kyatuhairwe and the Senior Presidential Advisor Florence Mutyabule.

Meanwhile, the 35th Annual Ugandan North America Association (UNAA) Convention & Trade Expo, will be held in Dallas, Texas from September 1st – 4th 2023 at the Hilton Anatole Dallas.

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