• Short Summary

    Uganda's Head of State General Idi Amin announced four days ago (on May 2) that his government would be retaining or acquiring a 49% interest in 18 companies in essential sectors of the economy.

  • Description

    Uganda's Head of State General Idi Amin announced four days ago (on May 2) that his government would be retaining or acquiring a 49% interest in 18 companies in essential sectors of the economy. This is 11% lower than the controlling 60% interest that ex-President Milton Obote had announced last year. It will also affect less companies than the 80 which would have come under virtual nationalisation with the Obote plan.

    The announcement by General Amin has been well received by most sectors of industry and economy and is reported to be a likely opening for the restart of foreign capital investment inflow into Uganda.

    Our film, shot by Cameraman Siraj Wamala, shows some of the companies which come under the new plan. They are Grindlay's Bank, Dunlop's "Batarama" shop, and the Uganda Breweries.

    General Amin said that this decision to take a smaller participation in a lesser number of concerns was " anew deal that ensures we bite off what we can chew". And, he added, Dr Obote's nationalisation measures had been "ill conceived" and had been made without even consulting his own Cabinet

  • Tags

  • Data

    Film ID:
    VLVA419Q6SQIYDPDCAFGV65VHDK44
    Media URN:
    VLVA419Q6SQIYDPDCAFGV65VHDK44
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    06/05/1971
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:07:00
    Time in/Out:
    /
    Canister:
    N/A

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