Museveni Meets Tembo Steels Investors , Praises them for Boosting Uganda’s Economy

President Yoweri Kaguta Museveni last week met officials from Tembo Steels (U) Ltd, Africa’s most varied & Integrated Steel Plant.

During the meeting held at State House, President Museveni and his guests discussed areas of investment in the steel sector and commended them for their remarkable contribution to Uganda’s steel industry, describing it as an ideal of industrial transformation.

The meeting was attended by Tembo group Chairman, Mr. Sanjay Awasthi, together with the General Manager, Mr. Manish Kalla, and their family.

President Museveni emphasized the strategic significance of harnessing Uganda’s abundant natural resources to create jobs and boost economic growth.

Museveni highlighted the exceptional quality of Uganda’s iron ore, positioning the country as a potential global leader in the steel industry if more emphasis is placed on value addition.

Museveni concluded by reiterating the government’s commitment to fostering industrial transformation, noting that value addition, job creation and technological advancement are key to achieving sustainable development.

Mr Awasthi and Mr. Manish hailed the government’s commitment to creating a business-friendly environment through strategic policies that has enabled investors to establish investments across the country.

Mr Awasthi thanked President Museveni for ensuring the peace and stability that Uganda enjoys.

 “Without peace and stability, we cannot sit here and do investments,” he remarked, emphasizing the foundation these provide for the country’s economic progress.

He also emphasized Tembo’s commitment to supporting local communities through initiatives like social corporate responsibilities.

Established in 2004, Tembo Steels has grown into a major manufacturing hub, producing steel, oxygen cylinders, and nitrogen. The company sources its raw materials locally, significantly contributing to Uganda’s economy and creating over one million jobs for Ugandans.

Early this year, President Museveni commissioned a new Direct Reduced Iron (DRI) plant at Tembo Steels in Kasolo Village, Bulamagi Sub-County, Iganga District. The new facility marked a major milestone in Uganda’s industrialization journey, with Tembo Steels reaffirming its position as a key player in the country’s steel industry.

Established in 2004, Tembo Steels has grown into a major manufacturing hub, producing steel, oxygen cylinders, and nitrogen. The company sources its raw materials locally, significantly contributing to Uganda’s economy and creating over one million jobs for Ugandans.

The event was attended by a number of high-profile figures, including government ministers, members of parliament, religious leaders, investors, and local officials.