Uganda’s President Museveni has urged citizens to safeguard the nation’s economic achievements as the country progresses on its path to becoming a high-middle-income state.
Emphasizing the impressive economic development since 1986, Museveni pointed out that Uganda’s GDP has risen from $3.9 billion to $66 billion, representing a 17 times growth.
The leader delivering a keynote speech before the NRM special interest group elections at Kololo Independence Grounds detailed five stages of economic change.
In the initial stage, he mentioned, there was minimal recovery, with basic items like soap, salt, kerosene, cement, and clothes being hard to find. “We rapidly resumed manufacturing of everyday products to satisfy the people’s requirements,” Museveni stated.
The second stage centered around increasing output, mainly focusing on crucial exports such as coffee and tea. The third stage involved diversifying the range of goods, incorporating items previously not part of the monetary system—like bananas, corn, yams, sweet potatoes, milk, beef, and various fruits—into the market economy. The fourth stage highlighted enhancing value, converting basic resources into more valuable commodities.
Currently, Uganda is moving into the fifth stage: the knowledge-based economy. “We are not merely enhancing value anymore; we are utilizing the outcomes of intellectual effort and the expertise of our hands,” Museveni stated.
He referenced the domestically produced Kira electric buses as an example of Uganda’s advancement in technology, highlighting the nation’s transition from merely putting together foreign goods to developing indigenous solutions like computers and vaccines.
Museveni further encouraged people to actively engage in the financial system.
He pointed out that in 2013, 68% of families lived mostly beyond the formal financial system, although programs such as Operation Wealth Creation have lowered this figure to 33%.
“In order to safeguard the progress achieved and lead Uganda towards a high-middle income level, each Ugandian needs to participate in productive endeavors, such as commercial farming, services, and information technology, among other fields, to generate income and accumulate assets,” he stated.
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