Africa-Press – Uganda. At the inaugural Diaspora Convention in 2024, held by Uganda’s Ministry of Foreign Affairs, President Museveni encouraged Ugandans abroad to invest in their homeland, highlighting the nation’s substantial economic potential.
Represented by Vice President Rt. Maj. Jessica Alupo, Museveni expressed his belief in the transformative power of the diaspora’s capital, entrepreneurship, and knowledge.
“Ugandans in the diaspora have done well, and your savings should be invested here before we begin to look for foreign investors,” Museveni stated, urging nationals abroad to prioritise homegrown investment.
He emphasised that the role of Ugandans in development cannot be overstated. “Countries all over the world are basically developed by their own citizens, and Uganda cannot be an exception,” he affirmed.
The convention underscored Uganda’s drive to harness the resourcefulness of its diaspora and explore opportunities in various sectors, including agriculture, industries, services, and ICT.
Museveni remarked that Uganda had long been rich in natural resources and labor but lacked the critical factors of capital, entrepreneurship, and knowledge.
“If members of the diaspora are able to bring these three factors, you will have made a significant contribution to the development of Uganda,” he said.
Permanent Secretary Ramathan Ggoobi further illustrated the importance of remittances from Ugandans abroad, which reached USD 1.4 billion in 2023, approximately 3% of Uganda’s GDP.
“The Ugandan diaspora is a significant contributor to the nation’s economic growth through remittances, investments, and knowledge transfer,” Ggoobi affirmed. These funds are vital for household incomes, healthcare, education, and boosting the local economy through investments in real estate and SMEs.
Permanent Secretary in the Ministry of Foreign Affairs, Vincent Waiswa, also highlighted the diaspora’s influence. “The role and impact of Ugandans in the diaspora can be observed in two key areas,” Waiswa explained.
He detailed the significant contributions made by Ugandans in various sectors such as healthcare, education, and agribusiness, both through remittances and investments in homegrown projects.
Minister of Foreign Affairs Gen. Jeje Odongo echoed this sentiment, stressing the strategic importance of the diaspora for Uganda’s future.
“We challenge the Ugandan diaspora to organize more unifying events among the various associations to strengthen our sense of Ugandan identity,” Odongo stated, encouraging collaboration for greater impact.
The Ugandan government is working to transform the nation into a modern and prosperous country by 2040, with a focus on addressing infrastructure gaps, boosting industrialisation, and enhancing the competitiveness of Ugandan goods and services.
“The NRM has been able to create a conducive investment environment in Uganda by ensuring peace and stability across the country,” Museveni added.
The diaspora’s potential is exemplified by other nations like India, the Philippines, and Ethiopia, where remittances and investments have significantly bolstered national economies.
“Many economies around the world are known to have registered big growth on account of the contribution of their diaspora communities,” Minister Odongo noted, urging Ugandans to follow suit in shaping the future of their country.
As Uganda continues its push for economic transformation, the involvement of its diaspora will remain a central pillar. “The diaspora will continue to be our strategic ally in transforming Uganda,” concluded Museveni.
For More News And Analysis About Uganda Follow Africa-Press
