Museveni to meet top investors as economy tumbles - Daily Post Uganda

Museveni to meet top investors as economy tumbles

With the economy in a state of free-fall as major companies are announcing closures, President Museveni will tomorrow hold a crisis meeting with top investors in the country in the bid to reassure them that all is well.

Museveni will meet top bankers from the banking industry, owners of companies that are in talks for Shs 1.3 trillion  and investors from Europe,China,Japan and the United States.

At the meeting that has been dubbed as the ‘Investors Round-Table’, expected to be held at State House Entebbe, the President will seek to assure investors that all is well and the government is running round the clock to ensure economic stability is regained.

Sources knowledgeable with why the meeting was convened have revealed that the President will not change his position that only companies who supplied goods to South Sudan and the government may be considered for a bailout.

The meeting comes after shock gripped top investors and bankers in the country after Bank of Uganda announced the take-over of Crane Bank, triggering questions about the health of the economy.

Last week Thursday, Nakumatt, the the largest supermarket chain in Uganda, admitted that its books are in red and warned that if it does not get rescue fund.

Today, top insurance firm-American Insurance Group (AIG) also announced a phased withdrawal from Uganda’s insurance market.


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