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Invest In Africa For Global Peace and Sustainable Development

Thursday, 1st February 2018
President Yoweri  Museveni has referred to Africa as the world's new frontier for trade, tourism and investment. Putting investment within the over-arching umbrella of global peace and sustainable development, Museveni said that a freer, more prosperous Africa is a more secure Africa. He further underlined that a freer, more prosperous Africa is a vital partner in solving some of the world's most pressing problems of poverty, immigration, climate change and terrorism.

Referring to the emergence of the Continent as a global economic force, President Museveni highlighted Africa's purchasing power which today stands at $8.2 trillion. By 2050, he predicted this to hit $36 trillion; providing huge investment opportunities for the discerning global businessman or woman. He urged an audience of mostly American businessmen and women at the sidelines of the recently concluded African Union Summit, to consider Africa as a prime investment destination.

Highlighting the profitability of African investment ventures, the President pointed out that recent global research on investment indicated the highest returns coming from Africa, at 12 % return on investment. Comparative returns from other continents indicated Asia and the Middle East at 8%, while returns on investment in Europe lagged at 6%. 

The President noted that although Africa suffers the problem of fragmented markets, her leaders have, for some time now, been working on matters of integration in order to resolve this colonial legacy. 

Speaking particularly about Uganda, Museveni said his country's economy had been growing at an average of 7% for the last 20 years despite the bottlenecks of inadequate power, high transport costs and lack of finance capital.  This average GDP growth rate of 6.74% per annum has made Uganda the 17th fastest growing economy in the world; and the fourth in Africa. Uganda's strategic thinking and economic initiatives, he argued, will make the country global leader in economic growth:  among the fastest growing economies of East Africa by 2025. The President was equally confident of Uganda's tourism, saying that in this area, the country is unparalleled on the Planet.