President Yoweri Kaguta Museveni of Uganda has called upon Russia and China to invest in the continent's manufacturing sector instead of solely relying on importing raw materials.
In a message emphasising the importance of true friendship and solidarity, President Museveni urged the two nations to support Africa's growth and economic development by investing in local industries instead.
During a meeting with representatives from BRIDGIN Schools, which included the Ugandan Ambassador to Belgium, the Netherlands, Luxembourg, and the European Union, President Museveni passionately called for a shift in the economic relationship between Africa and its international partners.
He pointed out that importing raw materials from Africa has hindered the continent's progress, leading to an imbalanced economic dynamic.
"Why do you buy unprocessed coffee from Africa? Why don't you bring your own companies to invest in Africa so that Africa gets more money from that coffee? In that case, we shall have bigger global prosperity because if Africa has got more money in their pockets, they will buy more from Europe," the President emphasised, adding that if the global South gets more of the 460 billion dollars of coffee, even Europe will benefit because Africa will be buying more from there.
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Citing the example of the coffee industry, where Africa remains one of the largest producers but receives only a fraction of the revenue, President Museveni emphasised the need for Africa to benefit more from its resources.
He proposed that Russia and China encourage their companies to invest in Africa's manufacturing sector, thereby creating opportunities for finished products to be traded and boosting Africa's economy.
The President firmly believes that a strategic partnership based on mutual investment and fair trade will lead to greater prosperity for both Africa and its international allies. By empowering Africa to maximise the value of its resources through local manufacturing, President Museveni envisions a more equitable and prosperous future for the continent and its global partners.