Museveni warns greedy investors

President Yoweri Museveni on Monday took part in a panel discussion at the Global Africa Business Summit in Kigali, Rwanda.

The summit was organised by COMESA and the Rwandan government.

Africa’s economic situation is very good, Museveni said, revealing that it has experienced high rates of growth despite bottlenecks like slow infrastructure development (hardware) and poor methods of work (software).

“To investors I would say: Africa is the right place to come. Africa is the next pusher for the global economy. We have a bit of bottlenecks, which we are handling.”

Museveni said there are investment opportunities in the energy and minerals sector, value addition for agriculture products and human resource development.

“However, I must warn greedy investors who charge high tariffs for quick gains at the expense of the people.”

On the negative media stories about investing in Africa, Museveni challenged investors to take interest in the situations on the continent and start from where the investment climate is conducive.

“Why don’t you go to where the story is good and start from there? The situation is today improving progressively and the best place to be now as far as business is concerned is Africa.”

He said after Independence, few African leaders had realized that integration was the stimulus for growth.

It was not until the 80s that necessity was realised leading to the formation of regional trading groups.

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