KAMPALA, UGANDA — President Yoweri Kaguta Museveni has commissioned the five-star Kampala Marriott Hotel in Nsambya, Kampala, urging Ugandan investors to move into high-end investments that create jobs, build wealth and reduce the country’s dependence on imported goods and services.
The dual-branded facility, which includes executive apartments and premium accommodation and conference facilities, was established by Capital Shoppers Hospitality Group, owned by businessman Ponsiano Ngabirano.
President Museveni said investments such as the Kampala Marriott demonstrate the potential for Ugandan entrepreneurs to transition from importing goods and services to developing competitive domestic solutions, particularly in the hospitality and tourism sectors.
He said Uganda and other African countries should focus on attracting and developing high-end investments that can create employment opportunities while retaining more resources within their economies.
Museveni commended Ngabirano for investing in a sector he said contributes directly to Uganda’s socio-economic transformation through job creation, skills development and wealth creation.
The President challenged local investors to strategically venture into four key areas — commercial agriculture, manufacturing and artisanship, services, and information and communication technology (ICT).
He cited the growth of South Korea’s Samsung and Nigerian businessman Aliko Dangote as examples of how local entrepreneurs can evolve into major wealth creators by investing in large-scale enterprises.
Museveni also directed the Ministry of Finance, Planning and Economic Development to ensure enforcement of the 10-year corporate tax holiday for eligible investors and investigate concerns over taxes that are affecting the hotel and hospitality industry.
He further directed the Ministry of Tourism to strengthen training of workers for the hospitality sector through the Uganda Hotel and Tourism Training Institute in Jinja, with private institutions complementing government efforts.
The President also called on the National Social Security Fund (NSSF) to increase strategic investments in sectors with a direct contribution to Uganda’s Gross Domestic Product (GDP).
Museveni noted that NSSF’s 30 percent stake in the Kampala Marriott was a strategic investment decision and encouraged the Fund to maintain such investment trends.
He also commended Cardinal Emmanuel Wamala for providing land for the development of the hotel, describing the decision as strategic in supporting investment.
Museveni urged the international business community to consider Africa as a growing investment destination, citing the continent’s expanding population, emerging projects and growing market potential.
Finance Minister Henry Musasizi said Uganda’s economy continues to demonstrate its capacity to attract high-end investments, pointing to the Kampala Marriott as an example of investor confidence in the country.
Musasizi said such investments are contributing to job creation, skills development and the expansion of modern tourism services, while highlighting the government’s focus on maintaining macroeconomic stability and implementing policy interventions to support investment.
For his part, Ngabirano commended the government for what he described as a conducive environment for investment, particularly in the hotel, tourism and hospitality sectors.
He credited peace and stability under President Museveni’s leadership for creating conditions that allow businesses to grow and undertake long-term investments.
Ngabirano also acknowledged NSSF as a key co-investor in the hotel, holding a 30 percent stake, while calling for further government intervention to address challenges affecting the hospitality industry.
