President Yoweri Museveni has said that Africa has got the raw materials but the continent lacks the stimulant to promote the element of growth such as cheap electricity, dosage transport, communications and internet, among others.
The President was speaking in a meeting with members of the Committee of African Peer Review Mechanism (APRM) that is responsible for Heads of State and Government.
Former South African Minister of Justice and Constitutional Development, Ms. Bridget Sylvia Mabandla, who called on him yesterday at State House, Entebbe, led the committee.
The President said that Africa exports raw materials like coffee, cotton and minerals, among others, to other countries without value addition. He noted that the export of raw materials makes Africa donate jobs and money to those countries where the raw materials are processed.
He, therefore, stressed that Africa should have its own market as a way of ensuring that the continent is able sustain the markets in other continents and countries such as China, among others.
During the meeting, President Museveni witnessed the signing of a memorandum of understanding by the Government of Uganda and APRM Committee on Heads of State and Government that participate in the African Peer Review Mechanism, relating to the technical assessment missions and the Review visit to Uganda. State Minister for Planning, Hon. David Bahati initialed the memo on behalf of the Government of Uganda while Hon. Bridget Sylvia Mabandla signed for the African Peer Review Forum of the African Union.
According to the memorandum of understanding the mandate of the African Peer Review Forum sets out to ensure that policies and practices of the participating states conform to the agreed political, economic and corporate governance values, codes and standards contained in the declaration on democracy, political, economic and corporate governance as a mutually agreed instrument for self-monitoring by the participating member states of the African Union.
The primary purpose of the APRM entails fostering the adoption of policies, standards and practices that lead to political stability, high economic growth, sustainable development and accelerated sub-regional and continental economic integration through sharing of experiences and reinforcement of successful and best practice, including identifying deficiencies and assessing the needs for capacity building.