President Yoweri Kaguta Museveni launched Piston Medical Ltd, a state-of-the-art pharmaceutical manufacturing plant in Namanve Industrial Park.
The plant will produce intravenous fluids and essential drugs, thus reducing Uganda’s reliance on imports and strengthening the country’s pharmaceutical sector.
“I am very happy to see Ugandans venturing into industrialization. This is the socio-economic transformation we keep talking about,” President Museveni said.
“That’s why I always emphasize that you should engage in production not just for consumption but also for income.”
He also highlighted Uganda’s key economic sectors, including commercial agriculture, manufacturing/ artisanal work, services, and ICT, noting that industrialization is essential for economic growth.
“In developed countries like the USA, only 2% of the population is engaged in agriculture, while the majority are in manufacturing and services. What is happening here is a big step forward for Uganda’s economy,” he said.
President Museveni reaffirmed the government’s commitment to creating a business-friendly environment through strategic policies.
He also commended the Minister of State for Investment and Privatization, Hon. Evelyn Anite for spearheading initiatives that attract investors, including offering free land for industrial projects.
“The land is not for sale. What we want is for you to produce products needed here and for export. Our contribution is free land, and we also provide tax incentives. For the first 10 years, manufacturers are not taxed directly, but the government still earns revenue through indirect taxes such as those on sodas and beers,” he noted.
The President emphasized that these policies are well thought out.
“There is no guesswork; everything is deliberate and positive,” he said.
On electricity, President Museveni acknowledged concerns over high costs, attributing them to expensive power from the Bujagali hydropower plant.
However, he reassured investors that other government-owned power stations provide cheaper electricity and pledged to address the issue.
Regarding the Namboole to Namanve industrial park road, he promised government intervention.
“The road you are talking about, I was not aware of it but they are going to work on it,” he assured.
The President also commended Uganda Development Bank (UDB) for providing affordable credit to local businesses.
“Thank you for doing your work. The money belongs to the government, and you lend it to our people. We shall continue injecting funds into UDB to ensure our people access capital and do good work,” he said.
On his part, Mr. Benjamin Kiiza, the Chief Executive Officer of Piston Medical Limited praised Uganda’s industrial progress and highlighted the significance of government policies in supporting local manufacturers.
He further emphasized the importance of local production and economic stability in fostering investment.
“We welcome you to Piston Medical. Our journey in the medical industry began as a distributor, but in 2019, we decided to venture into manufacturing,” Mr. Kiiza said.
“Before proceeding, we conducted a study in Rwanda, Burundi, Kenya, Tanzania, and South Sudan to assess market viability. That research gave us the confidence to move forward.”
He noted that Piston Medical Limited is pioneering in sterile manufacturing within the region.
“We are the first in the region to produce large-volume and small-volume parenteral solutions. We feel like ground breakers, bringing these essential products to our nation,” he stated.
Mr. Kiiza also underscored the uniqueness of their products.
“Our products are manufactured using sterile technology, ensuring the highest standards of safety and quality. Being a Ugandan-owned company, we take pride in serving our nation,” he added.
The CEO also highlighted the company’s contribution to employment.
“Currently, we have about 100 employees, and we have created many indirect jobs within the community,” he said.
Mr. Kiiza also acknowledged the financial challenges faced by manufacturers and the role of patient capital in sustaining long-term investments.
“DFCU Bank supported my partners and me from as far back as 2009, but eventually, we had to seek additional support from the African Development Bank (ADB). We have been operating with patient capital and maintaining our workforce over the last two years, ” he said.
Additionally, Mr. Kiiza expressed gratitude to President Museveni for Uganda’s stable economic management, particularly in maintaining macroeconomic stability.
“Your Excellency, I want to thank you for the economic policies that ensure stability. There are things we sometimes take for granted, but they are crucial for investment. Last year, the Ugandan shilling was the best-performing currency in Africa. Because of this stability, we can plan ahead and when we send our forecasts to workers and partners, they have confidence in our operations,” he added.
The CEO also praised the government’s tax incentives for local manufacturers.
“I personally benefited from these incentives. Without them, it would have been impossible to import manufacturing equipment or start operations without immediate tax burdens. Such policies make it easier to invest,” he noted.
“Because of the peace we have in Uganda, businesses like ours can thrive. In countries where insecurity persists, such ventures are nearly impossible—not because people are lazy, but because the environment is unstable.”
He also emphasized the importance of import substitution, citing lessons from the COVID-19 pandemic.
“When COVID-19 hit, every country prioritized its own needs and supply chains,” he urged.
In conclusion, Mr. Kiiza expressed his gratitude to the government and all stakeholders who have supported the growth of Piston Medical Limited.
“Your Excellency, I am very grateful for the support, and we look forward to continued collaboration in building Uganda’s industrial future,” he said.
Ms. Patricia Ojangole, the Managing Director of Uganda Development Bank commended the government’s commitment to industrialization, emphasizing the role of financial support in driving private sector growth.
She highlighted UDB’s contribution to the project and other manufacturing ventures across the country.
“I express my gratitude to His Excellency the President for supporting industrialization and creating an enabling environment for the private sector. Our intervention in this project started at an early stage where we provided financial structuring support,” Ms. Ojangole said.
She noted that UDB has played a crucial role in equipping industries with advanced technologies, reducing Uganda’s dependency on imports, and strengthening local manufacturing capacity.
“To date, we have supported about 17 factories, all contributing to job creation, economic growth, and import substitution,” she stated.
Ms. Ojangole also congratulated Piston Medical Limited on its achievement, recognizing the company’s determination and its impact on Uganda’s industrial sector.
“Your dedication has led us to this important occasion. The fact that Piston Medical is Ugandan-owned is a significant motivation for other entrepreneurs to invest in local manufacturing,” she remarked.
The event was also attended by the Minister of State for Investment and Privatization, Hon. Evelyn Anite, the Permanent Secretary-Ministry of Health, Dr. Diana Atwine, among others.
