1. Posted on Tuesday 17 June 2008 - 15:11

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   mugira

   

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   Fredrick Mugira, AfricaNews reporter in Mbarara, Uganda

   Uganda's President Yoweri Museveni says all oil companies that want to exploit the newly discovered Uganda's oil must refine it within Uganda.

   

   President Museveni was addressing close to 1000 participants both local and foreign who are in Kampala to take part in a three-day Organization of Islamic Conference (OIC) Business Forum meeting that kicked off yesterday.
   
   The 3-day meeting is running under the theme of “Discover the Resources and High Potential of African Market” is being held prior to the Foreign Ministers’ meeting slated to take place on Wednesday 18th June 2008.
   
   Mr. Museveni said the refineries must be constructed in Uganda so that Uganda is not exploited like it has been the case with coffee for a long time.
   
   He stressed that Uganda will not export its oil but endeavor to build a refinery for processing it. He said that the partnership with OIC member states in value addition will be an opportunity for Uganda in particular and Africa in general to take advantage of the international markets that have offered tax and quota free entry to thousands of products from the continent.
   
   President Museveni welcomed the decision to build a railway line from Dakar to Port Sudan but pointed out the need to have another railway line cutting across the Equator from Mombasa to Congo Brazzaville.
   
   Earlier, the Chairperson of the National Bank of Commerce and President of International Investment House based in the United Arab Emirates (UAE) Mr. Ahmed Dagher announced the formation of the National Islamic Bank of Uganda, the first in East Africa.
   
   The Secretary General of OIC Professor Ekmeleddin Ihsanoglu called on member states to sign and ratify agreements and protocols reached in order to accelerate the cross border trade among member states.

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Reactions

1. Posted on Friday 20 June 2008 23:06

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   bhukabijumiro

   

   
   31 berichten
   Lid sinds April 2008

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   When President Yoweri Museveni first came to state power in 1986, he came with many fresh ideas of how Africa could grow and develop beyond neo-colonialism and the apron strings of the international bodies like the World Bank and the IMF. He re-introduced the age-old barter system of trade and had a few projects done under this arrangement. For example, Astral Alanda International Limited, (a Ugandan company) contracted with Kanath, a Germany firm. Under the contract, Astral Alanda International, working with the Ugandan government exported coffee to Germany through Kanath and Kanath exported 5,000 heads of exotic cattle to Uganda for the rehabitation of the Ugandan department of animal husbandry.
   
   Under the same barter arrangement Museveni had the Yugoslavian company Energo construct the Mityana-Mubende Fortportal road. The world Bank and the IMF interfered and claimed Uganda was not developed enough to have such a good road. The road was never completed but a good mileage -about 40 miles had been constructed at the time.
   
   Now that President Museveni sees Uganda has oil deposits, he wants what is best for his people, for Ugandans, indeed for all Africans. African natural resources and agricultural products have long been robbed by western countries. Importing raw materials from Africa has been the largest ripp off of any continet in world history not to mention the robbing of African human resources during the slave era. It is long over due for African leaders to awaken to the need to export no raw materials any more. Raw materials export has left Africa extremely poor, backward and under-developed over centuries. If all African leaders took the same stance regarding mineral resources in Africa, the continent will definitely grow and get rich faster. Poverty would soon be eradicated from the vast continent. This is where a strong AFrican Union government also comes in. This will strengthen and consolidate the rich continent's political, economic, and financial power.
   
   Bravo! Yoweri Kaguta Museveni. We know how your earlier efforts and noble ideas were stifled by the developed world bodies and donor countries. This is why we welcomed your far-sight to recommend and support Africa's largest Free Trade Zone project (the Lake Victoria Free Trade Zone) as a vital project for the continents overall development. However, we are still concerned that the Ugandan Parliament has not yet enacted the requisite law establishing Free Trade Zones in the country; a law that will legally safeguard the interests of the foreign investors in the Free Zone. We urge you to have this law enacted and suggest that the Ugandan government do something to financially support this noble project so it may take off faster than planned. African governments' failure to financially support private-citizen-initiated projects such as this one, is the reason why the continent has failed to emerge from poverty and under-development. Just look at why China fights tooth and nail against Hong Kong's desire for independence. Hong Kong is mainly a free trade zone. For Uganda to have a project as this one within her borders is a blessing to Africa. If I were the president I would have left everything else and focus on its immediate implementation not looking at it just as a private undertaking but as a project of national pride.

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2. Posted on Saturday 21 June 2008 00:43

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   Ogweyo

   

   Ogweyo Ranga
   1 berichten
   Lid sinds January 2008
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   Congratulations for seeing this Museveni. It is nice to know your good side. I welcome this idea because it is good for African's development and growth. One thing I should remind Museveni though is the fact that these ideas should go in hand to hand with democracy reform. If Museveni can approach democracy reform with same vigour as he does for oil exploration in Uganda the We Africans will rally behind you.

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