Denis Opudo
The Ugandan president, Yoweri Museveni had a lot to say from the recently concluded 30th African Union summit. The theme for the summit was “Winning the Fight Against Corruption: A Sustainable Path to Africa’s Transformation”.
President Museveni had been seen saying he loves Trump despite his remarks that Africa is “shit hole.” According to Museveni, he took the remarks positive and said that Africa is a fertile ground for investment.
The reason why he encouraged investment in Africa included the fact that the continent’s purchasing power keeps growing. Additionally, he said that from the projections, in 2050, the purchasing power of Africa will hit $36 trillion.
He also said that Africa has ready market considering the slow increase in demand. He recalled the lessons he learned in economics classes that the demand for products equals the ability to pay.
Museveni also said that startups from the western countries especially America have what Africa requires. He said that Africa needs better technology, the spirit of entrepreneurship and savings which Americans have. However, he challenged Americans to step up their game since Chinese may outperform them.
Considering the discussions held on Continental Free Trade Area, Museveni views that AU keeps playing important role in trade. Therefore, the African leaders will resolve the market fragmentation challenges hence improve trade.
Besides, Museveni was specific about his government and how they are handling the state bottlenecks. He said that Uganda has increased access to electricity for its citizens. Therefore, he said that investors should consider Uganda as the best place to invest.
