Friday , February 7 2025

Ugandan President Lifts Mineral Export Ban Following Agreement with Kenyan Counterpart

Ugandan President Yoweri Museveni announced the lifting of a mineral export ban that had been in place since 2012. The announcement was made during his speech at the World Bank Summit in Nairobi, attended by 20 Heads of State.

President Museveni revealed that the decision came after an agreement with Kenyan President William Ruto, who requested permission to import iron ore for steel manufacturing. However, Museveni stipulated that the import window would only be open for a maximum of three years. He also required that a Kenyan steel manufacturer set up a factory in Uganda to provide employment opportunities for Ugandans.

“I banned the export of minerals from Uganda. No mineral will come from Uganda if it is not processed,” President Museveni stated, emphasizing his commitment to protecting Uganda’s resources.

The ban was initially implemented to prevent businessmen from exploiting Ugandan minerals. Museveni cited instances where businessmen, particularly from India, offered Ugandan miners $47 per tonne for iron ore, only to profit $700 per tonne after processing it into steel.

Since the ban, over seven companies have set up gold refineries in Uganda, creating jobs for the youth. President Museveni also highlighted that African countries have been short changed in various sectors, including coffee and cotton, and expressed his commitment to wearing clothes made in Uganda.

The lifting of the ban is seen as a significant move towards fostering economic cooperation between Uganda and Kenya.

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