President Museveni Inaugurates Kampala Marriott Hotel, Stresses Wealth Creation

President Yoweri Museveni presided over the grand opening of the Kampala Marriott Hotel and Marriott Executive Apartments in Nsambya, Kampala. During the ceremony, he emphasized the critical distinction between development and wealth creation, stating that African economies have often stagnated due to leaders failing to prioritize the latter.

“Many of the African economies have not grown because of the mistakes of the leaders. They fail to distinguish between development and wealth,” President Museveni remarked. He elaborated that while infrastructure is a component of development, sustainable growth must be underpinned by robust wealth creation, identifying commercial agriculture, services, ICT, and manufacturing as key drivers for Uganda.

The President commended Mr. Ponsiano Ngabirano, Chairman of Capital Shoppers Ltd, for his entrepreneurial journey, which began with a small grocery and evolved into a significant hospitality investment through the Marriott franchise. Mr. Ngabirano’s transition from importing to local distribution of products was cited as a model for Uganda’s economic strategy.

President Museveni also welcomed the National Social Security Fund’s (NSSF) investment in the hotel, viewing it as a more beneficial allocation of workers’ savings compared to foreign bonds. He noted that such domestic investments directly contribute to Uganda’s Gross Domestic Product (GDP).

The newly opened dual-branded property features 181 hotel rooms and 96 serviced apartments. It boasts extensive amenities, including multiple restaurants, bars, wellness facilities, and a large events space. The hotel has already created over 350 direct jobs, with approximately 95% of employees being Ugandan nationals. Furthermore, about 90% of its procurement is sourced locally, supporting Ugandan businesses.

“Establishing such an investment in Uganda shows a vote of confidence in Uganda,” stated the Minister of Finance, Planning and Economic Development, Hon. Henry Musasizi. He reiterated the government’s commitment to attracting investment through incentives like a 10-year tax holiday for qualifying new projects.

Mr. Ngabirano, while thanking the President, also raised concerns about the high taxes impacting the hotel industry and appealed for a review. He further requested more land for hospitality development, particularly along the Kampala-Entebbe corridor.

Source: https://ugandainvest.go.ug/president-museveni-commissions-new-marriott-hotel-in-kampala