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Museveni: 80% Of Uganda’s Top Companies Are Owned By Indians

President Yoweri Kaguta Museveni has hailed the role played by the Indian community in Uganda’s economic growth.

To date, there is a sizeable community of people of Indian origin living in Uganda, but they are vibrant and holds an important position in the economy and political life of this country, Museveni said.

“Over the years, Indians have made their mark on Uganda’s economic and business landscape. They have established industries, banks, hotels, insurance firms, agro-processing plants that have provided employment and tax revenue to the Government,” Museveni said.

He added: “Most of the major companies — almost 80 per cent of the top-level companies — are either owned by Indians or people of Indian origin who settled here for many, many years.”

He made the remarks Tuesday evening while addressing the Indian Community in Uganda during the State Visit of Indian Prime Minister Narendra Modi.

It should be noted that the President Idi Amin, in 1972, ordered tens of thousands of people of Asian origin to leave the country within 90 days.  The anti-Indian policies of Amin were reversed when the NRM leadership came to power in 1986.

“I would like to emphasis that the economic and commercial ties continue to form the pillar of our bilateral relations.  We value the contribution that the Indian community continues to make to deepen and strengthen our ties,” Museveni said in his concluding remarks.

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Taddewo William Senyonyi
William is a seasoned business and finance journalist. He is also an agripreneur and a coffee enthusiast.

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