Was Obote’s nationalisation drive in 1970 a necessary evil?

The old building of Bank of Uganda on Kampala Road. The Obote government passed decrees in 1970, nationalising 85 per cent private parastatals. PHOTO BY COURTESY OF FRANK MORRIS MATOVU

What you need to know:

A lot of contemporary history is critical of Obote’s attempts to nationalise the economy in the late 1960s and early 1970 but a critical examination shows the move, if done properly, was necessary and almost inevitable.

The restrictions imposed on the Indian commercial bourgeoisie inspired economic sabotage through hoarding, leading to shortages of basic foodstuffs. As seen last week, this had led to an upsurge in crime, especially in urban areas.

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