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Africa has got a huge market potential – Museveni

By Vision Reporter

Added 10th October 2018 06:02 PM

Senator James Clayborn assured the President of their plans to invest in the economic development of Uganda

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President Museveni with Illionios state senator James Clayborn Jr (3rd left) and his team. PPU Photo

Senator James Clayborn assured the President of their plans to invest in the economic development of Uganda

President Yoweri Museveni has said that Africa has got a huge market potential and purchasing power that the Chinese entrepreneurs have taken advantage of by investing and doing business with Africa.

He however observed that the Western business groups that have capital have not yet participated in tapping into the huge business opportunities that the African continent offers.

Museveni was meeting with a team led by Illinios state senator James Clayborn Jr who called on him on Tuesday at State House in Entebbe.

“If you cannot see Africa as a huge market, you cannot be an investor. The Chinese see it and that is why they have invested a lot in Africa,” he said.

Museveni enumerated Chinese-led investments in Uganda as the establishment of the fertiliser, steel and glass factory in Tororo District, among others.

The President, therefore, urged Clayborn and other American entrepreneurs to come and invest in the economic development of Uganda in particular and Africa in general.

He advised  Clayborn to undertake investing in Uganda in the areas of agro-processing, battery manufacturing, mineral processing, paper making, tourism, food processing, pharmaceuticals, industrial grade starch and electrical appliances, among others.

Museveni informed his visitors that Uganda has got so many investment opportunities with higher financial returns on investments.

Clayborn assured the President of their plans to invest to look into the possibilities of playing a role by in the economic development of Uganda.

Derrick C. Samuel, who is the president and chief executive officer of the Leadership Institute in America, informed Museveni that they would undertake starting up small and medium business ventures to benefit Ugandan youth to make young people root for better life.

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