Today, President Yoweri Kaguta Museveni officially commissioned the Kiira Vehicle Plant in Jinja, marking a significant milestone in Uganda’s industrial development.
Speaking at the event, President Museveni highlighted the country’s robust economic growth, noting that Uganda’s economy is currently expanding at 7% and is projected to surpass 10% with the commencement of oil production. He emphasised that the nation has a clear vision to drive societal transformation through strategic industrialisation.
President Museveni further announced plans to process Uganda’s rich iron ore reserves into high-quality steel. This initiative is expected to substantially reduce the country’s reliance on steel imports, which currently cost over $900 million annually. Uganda is uniquely endowed with some of the world’s finest iron ore, particularly in Kabale and Butogota, positioning the country to become a major player in regional steel production.