President Yoweri Museveni has urged Ugandans to take advantage of the government programs like the Parish Development Model (PDM) and Emyooga to join the money economy.
“According to the latest census data, 67 percent of our people are in the money economy because of our initiatives like PDM, Emyooga, NAADS. It is the 33% that are still out of the money economy.” He was addressing the nation during the 62 independence anniversary celebrations in the border district of Busia.
“With our oil resources, we are going to fund this. The importance of the railway is to lower transport costs thus making it easier for businesses to make profits. We are already handling electricity. With low costs of doing business, Uganda becomes more attractive to business operators,” Museveni said.
“It is estimated that by the end of June 2025, the economy of Uganda will be $57.5 billion by the exchange rate method and $163 billion by the PPP method. That’s even before extracting our oil. By maintaining our steady focus on various initiatives, we are set to grow our economy to $500 billion.”
President Museveni was also happy to note that Uganda’s automotive industry is shaping up very well with the production of the Kayoola electric buses by industry leaders Kiira Motors Corporation ,(KMC).
” We have entered the knowledge economy, focusing on automobilies , vaccines, pharmaceuticals, and computer assembling and manufacturing . Uganda now produces cars under the brand Kiira Motors, named after the river Nile,” Museveni stated .
On the other hand, President Museveni welcomed President Faustin-Archang Touadéra of the Central African Republic and thanked him for agreeing to join Ugandans as they celebrate the independence anniversary.
“The Central African Republic will become a good trade partner for East Africa. Central Africa is just after Congo and South Sudan and together with Central Africa we want to persuade the government of Congo and that of South Sudan that we work on the roads that connect East Africa to the Central African Republic,” he said.
“As we are working on that, I invite the Uganda Airlines and our air cargo companies to look at the possibility of flying to Bangui a few times so that we can link up with our brothers and sisters.”
Museveni also commended the UPDF Chief of Defense Forces (CDF), Gen. Muhoozi Kaneirugaba for rationalising the army parade by making it shorter. “Instead of the army parade standing there the whole day, they have now done their part and they have gone.”
The Central African Republic, President H.E Touadéra expressed his deep appreciation and thanks to President Museveni for inviting him to participate in the important celebrations.
“We are very much honoured to be here to celebrate Uganda’s 62nd Independence Day anniversary. We wish you a happy Independence day,” he said.
President Touadéra also thanked President Museveni for transforming Uganda through his able and wise leadership.
“Allow me to specifically thank President Museveni for effectively representing the people of Uganda for all these years. He has indeed transformed Uganda into a good country of national reconciliation. We came here because he is a person who inspires us a lot.”
The Minister for Presidency, Hon. Babirye Milly Babalanda informed the President that a section of Ugandans are still locked up in the mentality of working only for the “stomach”, ignoring the commercial value of their product, saying that this is one of the biggest challenges that have delayed Uganda to attain middle income status.
“However, I commend the NRM leadership for promoting commercial agriculture and enabling every Ugandan to enter the money economy,” she said.
Hon. Babalanda also thanked God for preserving President Museveni’s life who has played a crucial role in transforming Uganda.
“You have proved that one can have a chance and use it maximumly for the benefit of millions of Ugandans. Your Excellency sir, I wish to commend your leadership for the stability and socio-economic transformation of this country.”
At the same event, 40 distinguished Ugandans were awarded with medals for their exceptional contribution towards the development of Uganda.
The event was also attended by the Vice President, H.E Jessica Alupo, Chief Justice, His Lordship Alfonse Owiny-Dollo, the Deputy Speaker, Hon. Thomas Tayebwa, First National Vice Chairman of NRM, Alhaji Moses Kigongo, the Prime Minister, Rt. Hon. Robinah Nabbanja, the First Deputy Prime Minister, Rt. Hon. Rebecca Kadaga, 3rd Deputy Prime Minister, Rt. Hon Rukia Nakadama, NRM Secretary General, Rt. Hon. Richard Todwong, Ministers, Members of Parliament, Security Officers, Members of the Diplomatic Corps, cultural and religious leaders, among others national leaders.
