President Museveni Calls on Diaspora to Invest in Uganda’s Growth

President, Yoweri Museveni, has encouraged Ugandans living abroad to invest in their home country.

Speaking at the virtual closing of the 2023 Canada National Resistance Movement (NRM) Chapter Symposium, the president urged Ugandans abroad to consider bringing in foreign friends to invest or contributing their own funds to various enterprises.

Museveni recognized the country’s well-educated population and the need for financial support to harness their knowledge for innovation. He also emphasized the importance of dialogue, unity, and a prosperous diaspora.

During the two-day symposium held in Toronto, Canada, Museveni highlighted that the government is prioritizing support for the knowledge-based economy.

The President mentioned the development of electric vehicles and electric buses, which are already on the roads, urging  the diaspora to invest in these initiatives with additional funding.

“Our people are highly educated and qualified, they have got a lot of knowledge but of course lack money. The government has been supporting them to start innovations like electric vehicles, you have heard of the Kiira electric vehicle, this is a car named after the Nile, we have got Kayoola, the electric mini-bus made by our scientists,” Museveni said.

Museveni also discussed efforts to produce vaccines and medications locally, reducing reliance on foreign imports for medical needs.

He further stressed the government’s support for space science and satellite development, pointing out that citizens’ contributions could further advance these endeavors. He expressed optimism about Uganda’s progress and collaboration with the African common market to boost trade.

He welcomed collaborations that could enhance the value chain and increase revenue from key exports to local products, particularly coffee.

The symposium, attended by many Ugandans residing in Canada, also saw the participation of several government officials, including Ministers Babirye Milly Babalanda, Judith Nabakooba, and Ruth Acheng, along with Uganda’s Ambassador to Canada.