The President of Uganda yesterday delivered the annual State of The Nation Address as required by article 101 (1) of the Constitution of Uganda. The event was held at the Kampala Serena Conference Center. It is done before the opening of a session of parliament when an account of what government achieved since the previous state of the nation address is given and insights into how the country will progress.
President Museveni promised that in this term, “the corrupt are going to see how a Muyekera (resistance fighter) looks like “I have quite a bit of information about leaders who ask for bribes from foreigners and locals who invest here. Corruption should and will be stamped out among political leaders and public servants. We are going to stamp out corruption as we stamped out indiscipline in the army,” he said.
The President also urged Ugandans to increase the level of exports and add value to what they export so as to get more money and create employment opportunities.
He acknowledged that the country still faces high prices of electricity which he attributed to the high cost of setting up dams but promised to get a solution to the same.
The president also emphasized benefits of integration because it increases the bargaining power of members and promised to develop the mineral sector of the country and setting up refineries.
The President had no kind words for commercial banks, whom he accused of extortion. “Even when the inflation rate is 5%, Banks lend at 23.5%. It is these Commercial Banks that are fuelling the craze of importing by giving endless loans to importers (abagula)”, he said promising to capitalize Uganda Development Bank so as to give low-interest loans to agriculture and industry (manufacturing).
The President said government will initiate legislation in Parliament to include; Agriculture Extension Bill, Amendment of the NAADS Act 2001, Amendment of the Universities and other Tertiary Institution Act (2011), Fisheries (Amendment) Bill and many others.