President Yoweri Kaguta Museveni has paid Bakhresa Group of Companies, Dar es Salaam, Tanzania a visit. The collection is owned by the Bakhresa Family, and is involved in food and beverages production, transportation, energy, sports, entertainment, hospitality and real estate development.
During the visit President Museveni said, “I didn’t know this group previously and I am glad the Tanzania government arranged this tour for me.
We believe in vertical integration, especially in agro-processing, minerals and other products.”
Mr. Museveni expressed gratitude towards the Bakhresa Company for integrating business processes at various levels, hence saving and earning Tanzania government foreign exchange through export promotion.
“It is doing both import substitution and export promotion. They would form what we call the national bourgeoisie, different from the comprador bourgeoisie who import from outside.”
“The comprador bourgeoisie are those who turn our country into a supermarket. I have a lot of those in Uganda. Good enough we recently had a conference and the traders confessed their ‘sins’,” Museveni emphasized.
At the same gathering President Museveni said Uganda gives China $880m every year in imports, “buying useless items like weaves. For India, we donate over $1b annually.”
President Yoweri Kaguta Museveni concluded: “I welcome Bakhresa to Uganda. They already have a presence through a TV station (Azam) and are setting up a grain milling factory in Bweyogerere. They can also diversify into juice processing.”