14 September 2017

Uganda: Museveni Denies Having Shares in Madhvani Group

Jinja — President Museveni has dismissed allegations that he has shares in the Madhvani Group of Companies.

He said his push for a sugar factory in Amuru District is only driven by his desire for more jobs for the youth, creating markets and generating more revenue for the country.

President Museveni, who was speaking during a two-hour radio talk show on Baba FM in Jinja Town on Tuesday, said Uganda has spent 10 years with the residents fighting against the establishment of the sugarcane plantation and factory in the area.

"Recently, a Member of Parliament asked me why I was fighting so much for the construction of a sugar factory in Amuru, and whether I have shares in Madhvani Group of Companies. But it is not true. I am fighting for my country because the sugar being manufactured here... will help people get jobs, the sugar factory will use some of the raw materials from sugar outgrowers and it will also increase local revenue," Mr Museveni said.

The President, who is on a countrywide radio campaign to popularise the contentious Land Amendment Bill, said the people who are saying they don't have jobs are the one fighting investors from establishing factories to provide employment.

"The rich European countries you hear have many factories, so if there are people who are fighting the establishment of factories, just know that those are rebels [enemies] of the youth ," he added.

According to President Museveni, Ugandans need more awareness because they have not yet understood the steps government goes through in developing a country.

He said the only way of curbing unemployment in the country is by allowing the establishment of big and small factories in the country.

Initially, Mr Mayur Madhvani, a director of Madhvani Group, said the Amuru Sugar Factory would create 8,000 jobs, guarantee 7,000 outgrowers a market and stable prices for sugarcane.


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