Museveni denies owning shares in Madhvani Group

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Last month, scores of elderly women protesters stripped and marched towards the lands minister Betty Among’s vehicle at Amuru district to block the launch of the survey of land required for the multibillion shillings sugar plant project.



The angry residents blocked a road at Teakuteu-Kololo Market, a few kilometres to Bomben, where the minister was scheduled to launch the survey exercise. The land, measuring 10,000hectares and belonging to more than 100 people, is required for a sugar plant to be established by Madhvani Group. Despite the protests, the Minister vowed that the exercise and project would go.
The presidential advisor on the media, Tamale Mirundi in one of his radio talk shows wondered who was the real Madhavani. ‘ ‘ No serious investor can invest billions of shillings when he knows the local people are against the project in their area’’ Mirundi said.




Now president Museveni has come out to clear the air, saying that he does not have personal interests in the Amuru-Sugar project, dismissing allegations that he has shares in the Madhvani Group of Companies.




“Recently, a Member of Parliament asked me why I was fighting so much for the construction of a sugar factory in Amuru, and whether I have shares in Madhvani Group of Companies. But it is not true. I am fighting for my country because the sugar being manufactured here…will help people get jobs, the sugar factory will use some of the raw materials from sugar outgrowers and it will also increase local revenue,” President Museveni who is on countrywide tour, said while Baba FM in Jinja Town on Tuesday



Mr. Museveni said that his push for a sugar factory in Amuru is only driven by his desire for more jobs for the youth, creating markets and generating more revenue for the country

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read: Museveni: I don’t own shares in any company in Uganda

The president said that the only way of curbing unemployment in the country is by allowing the establishment of big and small factories in the country. Adding that “The rich European countries you hear have many factories, so if there are people who are fighting the establishment of factories, just know that those are enemies of the youth,’’



President Museveni’s business interest is in cattle keeping. Museveni’s riches incorporate farms in Rwakitura and Kisozi which suits more than 2,000 solid dairy animals which deliver thousands of liters of drain day by day. The Uganda president makes at any rate Ugsh100 million every month from his homestead.

Read: Mirundi threatens to expose the real owners of businesses and properties in Uganda

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