By Website Writer; H.E YK Museveni has finally talked about the popular “Pinetti Coffee deal” that has sparked a storm in the country for the last three months.
During the State of the Nation address on Tuesday, June 7, 2022, President Museveni said that individuals desisting the coffee project are envoys of the “perpetual bleeding of Africa.”
Museveni said that he will only work closely with the interested people but not contradictors in this project.
“Those attacking the coffee project are supporters of the perpetual bleeding of Africa. I am ready to sit down with those coffee people. If you want to add value, I will support, but if you want to be a slave then I won’t support you,” H.E YK Museveni said.
The President of the Republic of Uganda also revealed that Ms. Enrica Pinetti, Uganda Vinci Coffee Company Limited board chairperson didn’t have any knowledge and idea about coffee when they met.
President Museveni says it was him who however aligned Ms. Pinetti into the project since she possesses a reputable network in the coffee business.
“When I met Madam Pinetti (investor), the one you’re attacking. She had no idea about coffee. She however had a big network so she went to consult and said it was doable. I am the who told her, for her she was into hospitals,” Museveni added.
In April this year, an agreement signed by Ramathan Ggoobi, the secretary to the treasury on behalf of the government, and Enrica Pinetti, an Italian investor and the Uganda Vinci Coffee Company Limited board chairperson on February 10, 2022 was tabled.
The agreement grants Vinci exclusive rights to buy Uganda’s coffee before the government looks at other players. The company is also exempted from paying taxes such as import duty tax, stamp duty, value-added tax, National Social Security Fund (NSSF), and pay as you earn for ten years. The company also reserves the right to determine the coffee prices in the country on top of enjoying electricity subsidies among other benefits.
However, Parliament and other government officials immediately condemned the agreement signed as they branded it ‘awful’ and disastrous especially to the livelihoods of Ugandans that are active in the coffee business.
Different lawsuits have since been arraigned as they seek court to declare that the actions of the minister of Finance and Economic Development to handpick Uganda Vinci Coffee Company in disregard of able Ugandan firms to solely manage the coffee business, set coffee prices and related products, is an infringement on the right to own property and open competition as well as economic rights of coffee farmers in the country.
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