Africa is the Business Center for the Future, Says Museveni

President Yoweri Kaguta Museveni. PHOTO/COURTESY

Kampala, Uganda | THE BLACK EXAMINER | Today, President Yoweri Kaguta Museveni inaugurated Four Points By Sheraton Kampala, an internationally renowned hotel under the management of Marriott International Inc.

The Sheraton franchise is under the ownership of Portman Square Limited, an international company with two operational hotels in Kenya, namely Four Points by Sheraton Nairobi Airport and Four Points by Sheraton Hurlingham.

During the inauguration in Kololo, Kampala, President Museveni highlighted the importance of the private sector and its role in strengthening Uganda’s economy. He emphasized that supporting the private sector is a form of nationalism, and it has been pivotal in the nation’s economic recovery, especially following the challenges faced during the rule of former President Idi Amin.

The President mentioned the importance of supporting the private sector to grow the economy, which in turn contributes to national independence. He acknowledged the significant role the private sector plays in producing materials and goods for the country.

President Museveni also discussed the government’s decision to return confiscated properties to Asians who were expelled during Idi Amin’s regime. He emphasized the need to provide a conducive environment for investors, encouraging them to invest in Uganda.

He pointed out the growth in the number of hotel bedrooms in Uganda, particularly in preparation for hosting the Commonwealth Heads of Government Meeting (CHOGM) in 2007. The country surpassed the required minimum number of bedrooms for the event, and the hotel industry has continued to expand.

The President assured investors of a ready market for their goods and services, given Uganda’s substantial internal market and its proximity to East Africa and the broader African market. He also welcomed investment in manufacturing and agro-processing, highlighting the potential for the coffee industry when coffee is processed locally.

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President Museveni urged investors to report any public servants who engage in corrupt practices, promising to take action against those who frustrate businesses with demands for bribes.

The board member of Four Points by Sheraton, Mr. Kaushik Manek, expressed his satisfaction in introducing their $40 million brand to Uganda and praised Kampala as a thriving business destination. He also commended the President’s leadership in promoting Uganda as an investment destination.

The General Manager of the facility, Mr. Gaurrav K Magoo, stated that Four Points By Sheraton is committed to providing world-class services while upholding safety and quality standards. The hotel, located at the base of Kololo Hill, features 142 well-appointed guest rooms, restaurants, a fitness center, and various amenities.

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