By Prossy Nandudu
President Yoweri Museveni has renewed calls for value addition in order to reduce import dependence.
According to the President, value addition will be possible with an educated workforce, availability of electricity and a good road network.
Giving the example of coffee, Museveni said that when processed, a kilo of coffee could earn farmers $4 (about shillings 14,000) compared to the $2 (about shillings 7,000) earned when sold in raw form. By adding value, according to him, the economy will jump to $550 billion instead of $55.2 billion.
Museveni says cotton, timber, fish, gold, iron ore, minerals such as vermiculite, including phosphorus shouldn’t be sold in their raw form.
For iron ore, the President says it should be processed into steel products for exports, while phosphorus should be processed into fertilisers to prevent the reliance on imports from war-torn countries of Ukraine and Russia said to be a major manufacturer of fertilisers, imported by most African countries including Uganda.
He has also assured the public that the search is still on for an investor to add value to phosphates found in Usukuru hills in Tororo district after the past investor was duped into giving out bribes, which affected the capital for the investment.
Museveni appealed in his speech shortly after the reading of the 2023/2024 budget in a televised address from State House Nakasero on Thursday.
