President Yoweri Museveni encourages all Ugandans to contribute to wealth creation in order for Uganda to achieve communal progress and prosperity, including by adopting modern commercial and calculated agriculture to combat poverty at the home level.
His Excellency the President revealed, while addressing leaders in Arua on Wednesday 12th April 2023 as he began his tour on investment and wealth creation in West Nile on Tuesday under the theme: “Securing your future through wealth creation and shared prosperity,” that while the money economy has grown from four percent in 1969 to 68 percent today, there is still much work to be done. He urged all Ugandans to participate in the money economy.
“We don’t need spectators in the economy; we need everyone to be a player.” “It is not acceptable to see some people spectating while others are making money,” H.E Museveni stated.
According to President Museveni, Uganda has achieved the bare minimum of economic recovery by restoring products such as the three Cs-coffee, cotton, and copper, as well as the three Ts-tea, tourism, and tobacco-that had fallen during Uganda’s political turmoil in the 1950s.
He stated that by 1986, when the NRM took power, he was fully aware of the situation that the money economy had collapsed, and they launched on the minimal economic recovery by resurrecting the 3Ts and 3Cs.
“And within a short time, cotton production has increased, tea production has increased, and we are now producing around 12 million bags of coffee, up from 9 million bags previously.” “As a result, the minimum economic recovery has been achieved,” the President said, adding that the economy has grown with the addition of other products such as milk, beef, soap, sugar, fish, fruits, steel, and maize, which was not a cash crop in 1971.
He stated that economic infrastructure improvements such as roads, railways, piped water, internet, and so on are being worked on to assist wealth creation, and he vowed to address the problem of inconsistent electricity supply in West Nile.
“We have a lot of power, but the issue is distributing it.” I’ve been dealing with this issue for a long time. “The demand for electricity is increasing, and with these industrial parks coming up, we will require more electricity,” H.E Museveni added.
He expressed confidence in the parish development model, which aims to elevate people out of poverty through firms with global demand in order to uplift the remaining 38% of Ugandans who are still in the substance to money economy.
“Anyone over the age of 18 who wishes to participate in wealth creation should join the parish SACCO.” We will send you 100 million shillings to your SACCO each year, and we will need 100 families to benefit each year. “The point is that in four years’ time, you parish people will have your own bank with 400 million shillings,” the President remarked, urging residents to come out and report the corrupt who are sabotaging the Parish Development Model.
“The corrupt will have problems, and they will pay.” Fear of exposing the corrupt shows you’re on their side. “I was recently in the Gulu area, and I got some suspects, and my State House Anti-Corruption Unit is going after all of them,” Gen Museveni added.