Museveni pledges support for local investment groups

President Museveni has pledged government support to progressive local investment groups that have something to show and working within the country’s investment plan.

While commissioning a fruit processing plant in Nakasongola District on Thursday, Museveni urged Ugandans to focus on value addition for the different agricultural products to fight poverty and create wealth.

“We give money to people that have nothing to do, and they squander it. How about someone who is doing something good? The problem is not the money but the people who can execute the work we want,” he said.

Citing the example of owners of the newly commissioned Kike Tropical Fruits factory in Nakasongola District, the Ugandan leader noted that the entrepreneurs responded to his earlier call to fight against poverty in Uganda.

“When my daughter Olivia Mugabe told me that she wanted to add a brick to development in Uganda, I advised her to find a market in Austria. She later mobilized her brother Francis Mugabe to start the fruit factory in Uganda after finding the market. She realized that Austrians need standard processed fruits,” Museveni noted.

Linking the fragile state of the Soroti Fruit factory to failed planning, President Museveni said the factory was poorly built and money possibly stolen.

“We tried to build a fruit factory in Soroti but it was poorly built. I think they stole the money. This is why I was struggling with Olivia Mugabe to see if we can get private investors,” he added.

Still on Thursday, Museveni promised to address the issue of high flying taxes in order to support local investments.

Meanwhile, Kike Tropical Fruits Limited has capacity to process 1,000 metric tonnes of fruits per season and employs about 500 workers.

The fruits are sourced from the Greater Luweero, Greater Masaka, West Nile and Bukedi sub regions of Uganda.

Finance minister Matia Kasaija told a gathering that its commissioning “was a clear indicator of how Ugandans can add value on the different products and boost the investment sector.”

“Francis Mugabe visited my office and wanted assistance to expand. We talked to the Uganda Development Bank. It is good that you have played a good part. If you want more money, we shall see how to help you again,” he said.

Fruit production has emerged as one of the fastest growing industries in Uganda although a big percentage of farmers complain of the limited market and the inadequate value chain system for the farm products.