The newly launched Lake Victoria Logistics, a company aiming at reducing the cost of transporting fuel in Uganda, will subsequently reduce fuel prices, according to experts.
Lake Victoria Logistics was founded in May 2015 as Mahathi Infra Uganda with a vision to change the petroleum logistics for Uganda and other landlocked countries like Rwanda, Burundi, and the DRC that get their oil through Uganda. In 2018, President Museveni laid the foundation stone, and today he officially launched the facility.
During the launch at Bugiri-Bukasa, Kawuku-Entebbe Road, President Yoweri Museveni expressed gratitude to Lake Victoria Logistics/Mahathi Infra Uganda for investing in Uganda.
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“I’m very happy about this move. Mahathi, you have helped us. I don’t know how much cheaper it is because you didn’t give us the figures, but I imagine that it is much cheaper than it was. The most important thing is for you to come to the market of Uganda, and once you enter our market, you are talking about the markets of DR Congo, South Sudan, Rwanda, Burundi, and so on. So, this is really a goldmine for investors,” he said.
Furthermore, President Museveni also revealed that the economy of Uganda has been able to grow progressively due to the right strategy of the National Resistance Movement (NRM) government.
“People who don’t understand the NRM strategy always miss the point. By 1986, the money economy of Uganda had collapsed; therefore, at that time, the task was to revive the economy, which had collapsed, so when you hear people talking about traffic jams and so on, that means the economy has been revived; you cannot have the traffic jam if you people don’t have money to buy cars and fuel,” he said.
In conclusion, the President further explained that since the economy of the country has been revived under the NRM government, it was high time they rationalized it.
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