By In an effort to promote diplomatic relations between the two nations, President Yoweri Kaguta Museveni and President Nana Akufo-Addo of Ghana met and discussed bilateral issues on Friday, January 19, 2024.
The leaders discussed topics of mutual interest, such as the security situation in West Africa, democracy, and economic integration, among other things, on the sidelines of the ongoing 19th Non-Aligned Movement (NAM) summit at Speke Resort, Munyonyo.
President Museveni provided insightful remarks on economic progress, highlighting the significance of integration and self-sustainability while relying on his historical perspective.
“When we studied our struggles here in the 1960s as a student’s movement, I remember point number five of our ten-point program, we used to say building an economy which is integrated and self-sustaining; meaning that if you have got petroleum for instance, it should be fully integrated vertically up to the final products and then horizontally,” he advised Akufo-Addo on economic growth.
President Akufo-Addo, on the other hand, commended President Museveni for organizing the meeting and taking over as NAM chairperson.
“Your Excellency, thank you for hosting us and taking on the NAM leadership; this adds to our shared history,” he expressed.
With a GDP of $65.6 billion, Ghana was the 73rd largest economy in the world; Uganda, on the other hand, was placed 104th with $27.5 billion. Based on GDP per capita and GDP 5-year average growth, Ghana and Uganda were ranked 46th and 41st, respectively.
About 95% of Ghana’s mining revenue comes from the commercial exploitation of gold, the most valuable commodity in the country. Other minerals that are mined for profit include manganese, bauxite, and diamonds.
The official estimate for Ghana’s GDP was $187 billion at the end of 2023 in purchasing power parity terms.
