Uganda: President Museveni Clarifies Sovereignty Bill, Assures Investors

President Yoweri Museveni has stepped in to address widespread public apprehension surrounding the proposed Sovereignty Bill, seeking to clarify its objectives and allay fears that it could harm foreign investment or diaspora remittances. In a direct address to the Ugandan populace, the President characterized the recent outcry as mere 'noise' (orwaari) and firmly stated that the bill's core purpose is to uphold Uganda's sovereign right to self-determination, particularly in policy matters, rather than to disrupt the private sector.

“

Independence means the right to make our own mistakes if necessary and learn from them. Sovereignty means: 'Please, muteleke (leave us alone), so that we make our own decisions.' Do not fund groups to influence our decisions as a country.

President Museveni drew a clear distinction between regulating policy decisions and interfering with private capital. He invoked the spirit of the Pan-African struggle for independence, defining sovereignty as the exclusive right to make national decisions—covering political representation, social stances like homosexuality, economic policies, and foreign relations—without external manipulation. He reassured citizens and investors alike that his version of the bill does not impede Foreign Direct Investment (FDI), church donations, or remittances from Ugandans abroad. This clarification is crucial for maintaining investor confidence and acknowledging the significant role of the diaspora in Uganda's economy.

“

Under my policy, forex remains freely traded in private bureaus and money earned legally can move in or out of the country without hindrance.

Furthermore, the President underscored Uganda's adherence to a free-market economy, emphasizing that the freedom of private enterprise serves as a safeguard against potential corruption or unpatriotic actions within the public service. He highlighted that foreign exchange markets operate freely and that legally earned money can move in and out of the country without impediment. To ensure the bill remains focused, President Museveni has directed parliamentary leaders to concentrate its scope strictly on policy-making sovereignty, thereby protecting the 'precious' freedom of private enterprise. This proactive communication aims to prevent misinterpretations and reassure stakeholders about Uganda's continued openness to legitimate economic engagement.

“

The directive is to focus the Bill strictly on the sovereignty of policy-making and protect the 'precious' freedom of private enterprise.