President Yoweri Kaguta Museveni today officially commissioned the Kiira Vehicle Plant in Jinja, underscoring the government’s commitment to industrialization and economic growth.
Speaking at the event, Museveni noted that Uganda’s economy is currently growing at 7% and is projected to exceed 10% once oil production begins, signaling a major transformation for the nation.
The President highlighted plans to process Uganda’s rich iron ore reserves into high-quality steel, a move expected to significantly reduce the country’s $900 million annual expenditure on steel imports.
“Uganda is fortunate to have some of the best iron ore in the world, located in Kabale and Butogota,” Museveni said.
He also emphasized the growing demand for electric vehicles and Uganda’s potential in lithium production, citing substantial deposits in Ntungamo and other regions as a key resource for future industries.
Congratulating Makerere University, Kiira Motors, and the National Enterprise Corporation, Museveni praised their achievements as proof that Uganda can break barriers of doubt and realize its full potential.
The commissioning of the Kiira Vehicle Plant marks a significant milestone in Uganda’s journey toward industrialization and technological innovation, positioning the country as a hub for locally made vehicles and advanced manufacturing.
