By Caroline.N
President Yoweri Kaguta Museveni has praised veteran businessman and industrialist Patrick Bitature Nzeyi for his longstanding contribution to Uganda’s economic transformation, describing him as one of the country’s pioneers in private sector development and indigenous entrepreneurship.
The President made the remarks while acknowledging Nzeyi’s role in building home-grown enterprises that have contributed to employment creation, value addition and national development over several decades. Museveni noted that Uganda’s economic progress is closely linked to the emergence of local investors who have taken risks, reinvested profits and supported government efforts to modernise the economy.
Museveni said Nzeyi belongs to a generation of Ugandan entrepreneurs who responded positively to the country’s post-conflict recovery and economic liberalisation policies by investing in productive sectors. “People like Nzeyi demonstrate that Ugandans can build strong businesses, create jobs and contribute meaningfully to national development,” the President said.
Nzeyi is widely recognised for his involvement in agribusiness, manufacturing, hospitality and real estate. His ventures, particularly in agro-processing, have been cited as examples of how private investment can support government priorities such as value addition, export growth and rural development. Museveni emphasised that such investments help reduce dependence on raw commodity exports and strengthen Uganda’s position in regional and international markets.
The President also highlighted the importance of partnership between government and the private sector, noting that economic transformation cannot be achieved by the state alone. He said local tycoons like Nzeyi play a critical role in complementing public investments in infrastructure, energy and education by translating policy into tangible economic activity.
Museveni reiterated government’s commitment to creating a favourable business environment through improved infrastructure, stable macroeconomic policies and regional integration. He said sustained support for indigenous investors remains a key pillar of Uganda’s development strategy, especially as the country seeks to expand industrialisation and job creation for its growing population.
In response, Nzeyi thanked the President and government for recognising the contribution of the private sector. He noted that Uganda’s economic journey has been shaped by consistent reforms that encourage entrepreneurship and investment. Nzeyi said continued dialogue between business leaders and policymakers is essential to address challenges such as access to affordable finance, skills development and market expansion.
He further urged young Ugandans to embrace entrepreneurship, stressing that local businesses have a vital role to play in transforming the economy. “Uganda’s future lies in empowering its people to create wealth, add value and compete regionally and globally,” Nzeyi said.
Analysts say Museveni’s remarks underscore a broader narrative of promoting indigenous capital as a driver of sustainable development. As Uganda pushes forward with its industrialisation agenda, the recognition of local tycoons is seen as both an endorsement of past contributions and a signal of government’s expectations for the private sector going forward.
With figures like Nzeyi continuing to invest across key sectors, government officials remain optimistic that strong collaboration between public institutions and private investors will accelerate Uganda’s economic transformation and strengthen resilience in the face of regional and global economic challenges.