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Museveni: Africa purchasing power will surpass that of USA

Museveni meeting Harvard students

Museveni meeting Harvard students

Ugandan president Yoweri Museveni on Saturday m- group of students from 10 countries who are enrolled at Harvard University’s Kennedy School of Government.

The international Masters in Public Admin group, was here to understand the development context of an African nation.

“In my interaction with these young people, I informed them that the transformation of Africa is finally taking place. Ten years ago, the purchasing power of Africa was $500 billion while that of the USA was $12 trillion. Now, the purchasing power of Africa is US$8 trillion and in 2035 it will surpass that of USA,” said president Museveni.

Mr Museveni added that in the past, Africa was unable to coalesce as a strong unit because the population was small in a huge area with a lot of natural resources.

According to him, Africa also had difficult geography; deserts in the north, rivers like the Nile that were not navigable and thick forests in Central Africa.

The delay in Africa’s transformation has been due to failure to identify bottlenecks like ideological disorientation and a fragmented market.

“Failure to unite enabled Europeans to easily colonise Africa, and instead of developing it, they left Africa with peasants,” Museveni added.

Now that Uganda and African countries have identified the bottlenecks, Africa will have the same social structure of middle and working classes as the West, according to Museveni.

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