Is Uganda selling its soul to China, while fighting corruption, militants?
Yoweri Museveni says it is working on a number of deals with China, but isn’t using state entities as collateral
Chinese private investment in Uganda is growing, while Westerners are losing their appetite to put money to work in the country, President Yoweri Museveni said in a new interview, pledging to step up efforts to tackle corruption that have made slow progress.
Museveni, in power since 1986 and one of Africa’s longest-serving leaders, said Uganda was working to sign a number of deals with Chinese private-sector lenders in sectors such as agro- and fertiliser-processing, minerals processing and textiles.
“The Western companies have lost their spectacles; they no longer have the eyes to see opportunities. But the Chinese see opportunities and they come, and they are knocking, they are coming very vigorously,” Museveni said. “But (Western companies) are saturated with wealth. They are not bothered.”..