https://en.sputniknews.africa/20240315/ugandas-museveni-calls-on-italian-investors-to-add-value-to-countrys-coffee-1065560086.html
Uganda's Museveni Calls on Italian Investors to Add Value to Country's Coffee
Uganda's Museveni Calls on Italian Investors to Add Value to Country's Coffee
Sputnik Africa
According to the Food and Agriculture Organization of the United Nations, coffee is one of the world's most widely consumed beverages, one of the world's most... 15.03.2024, Sputnik Africa
2024-03-15T14:57+0100
2024-03-15T14:57+0100
2024-03-15T14:57+0100
sub-saharan africa
uganda
east africa
italy
yoweri museveni
europe
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Uganda's President Yoweri Museveni, in a meeting with an Italian diplomatic delegation, urged the country's investors to add value to coffee by opening factories in the East African country, according to Uganda's State House.He emphasized that what Kampala needs from European countries is capital from the private sector and not from the government.Museveni added that Uganda has a lot of natural resources, enough manpower and a lot of investment opportunities that need to be exploited.Ambassador Stefano Gatti, the Director General of the Italian Agency for Development Cooperation at State House Entebbe, who led the delegation, in turn described Uganda as "a key coffee country in the world."Uganda's coffee exports for the twelve months (December 2022 - November 2023) totaled 6.13 million bags, valued at about $958.6 million, according to the Uganda Coffee Development Authority.
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Uganda's Museveni Calls on Italian Investors to Add Value to Country's Coffee
According to the Food and Agriculture Organization of the United Nations, coffee is one of the world's most widely consumed beverages, one of the world's most traded commodities, and one of Uganda's top foreign exchange earners.
Uganda's President Yoweri Museveni, in a meeting with an Italian diplomatic delegation, urged the country's investors to add value to coffee by opening factories in the East African country, according to Uganda's State House.
He emphasized that what
Kampala needs from European countries is capital from the
private sector and not from
the government."What we need from Europe is capital, not from the government but from the private sector which needs money in the form of profits. It’s a win-win formula," the president said. "We now produce 9 million bags of coffee and with irrigation, production will be more."
Museveni added that Uganda has a lot of natural resources, enough manpower and a lot of investment opportunities that need to be exploited.
Ambassador Stefano Gatti, the Director General of the Italian Agency for Development Cooperation at State House Entebbe, who led the delegation, in turn described Uganda as "a key coffee country in the world."
"We suggest that Uganda works with us on this regional project of the coffee sector. We are also focusing on value addition of coffee in Uganda, it’s our priority as the Government of Italy," Gatti pointed out.
Uganda's
coffee exports for the twelve months (December 2022 - November 2023) totaled 6.13 million bags, valued at about $958.6 million, according to the Uganda Coffee Development Authority.
