Africa’s Problem Is Not Lack Of Wealth But The Failure To Turn That Wealth Into Prosperity,Says Ugandan Speaker

Africa’s Problem Is Not  Lack Of Wealth But The Failure To Turn That Wealth Into Prosperity,Says Ugandan Speaker
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Speaker of Parliament Rt Hon Jacob Marksons Oboth has called on African legislators to champion value addition and move the continent away from exporting raw materials.

The Speaker made the call Tuesday, November 10, while opening the Commonwealth Parliamentary Association (CPA) Africa Region Capacity Development Seminar at the Imperial Botanical Beach Hotel in Entebbe.

The seminar, running up to 13 November 2026  under the theme “From Extraction to Transformation: Parliamentary Leadership in Securing Africa’s Resource Wealth for Sustainable Development”,with legislators from South Africa, Rwanda, Nigeria, Tanzania, Zambia and Uganda.

“Africa will not secure economic sovereignty unless its legislators take the lead in making sure our raw materials benefit our own people, not only the rich countries,” he added.

He said Africa’s problem is not lack of wealth but the failure to turn that wealth into prosperity for its people,he added.

We extract & export raw materials while processing, manufacturing, employment and profits largely accumulate elsewhere &  this can only be reversed by strong legislation in our respective countries, he said.

He added that African communities must participate in decisions affecting their livelihoods, benefit from resource extraction in their areas and be protected against displacement and environmental degradation.

The speaker said the real benefits of natural resources come only when they are turned into finished products that create industries, jobs and greater market value.

The Speaker commended President Yoweri Museveni for leading Uganda’s value addition agenda.

He cautioned, however, that the African Continental Free Trade Area (AfCFTA) will only reach its full potential if member states prioritise value addition and reduce their dependence on exporting unprocessed raw materials.

 

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