Uganda’s Economic Future Lies in Science, Museveni Says While Hailing Magoola

President Yoweri Museveni

President Yoweri Museveni has announced that Uganda’s economy is poised to benefit greatly from advancements in the knowledge economy, highlighting biotechnology breakthroughs led by Dr. Matthias Magoola, the founder of Dei BioPharma Ltd.

Speaking at the launch of the ruling National Resistance Movement (NRM) manifesto for the 2026–2031 term in Munyonyo on Monday, the President pointed to Dr. Magoola’s development of therapies for cancer, malaria, and diabetes as examples of innovations expected to accelerate Uganda’s economic growth in the coming years.

He also cited Kiira Motors Ltd as another flagship project within the knowledge economy.

“When we say Uganda’s economy is set to grow to USD 500 billion from the current USD 66 billion, it is because of what I’ve explained: value addition, diversification, and now the knowledge economy — science-driven growth,” Museveni said.

The President encouraged Ugandans and investors to support homegrown companies to make wealth creation central to transformation. “Once government has funded the research, it is your turn to step in. Instead of spending on whisky, buy shares in these factories so we keep our innovations local, create jobs, and build wealth,” he urged.

He further praised Ugandan scientists, singling out Dr. Magoola. “There’s one good boy called Magoola … our people have discovered medicines for cancer, diabetes, and malaria. We are going to help the world solve many problems,” Museveni noted.

Dr. Magoola’s company, Dei BioPharma Ltd, has filed over 100 patents in the United States covering treatments for cancer, malaria, diabetes, HIV/AIDS, and Foot and Mouth Disease. His cancer research introduces synthesis-based therapeutic proteins, an approach that bypasses costly recombinant processes, potentially reducing treatment costs by up to 100-fold.

Among the innovations already filed with the U.S. Patent Office are a combined mRNA and CRISPR-Cas9 technology for precise cancer cell elimination, an early tumor detection system, and a universal mRNA cancer vaccine platform that offers “off-the-shelf” solutions compared to slower, customized vaccines.

Dei BioPharma is also pursuing a patent for CAR-T cell immunotherapy expected to cost under $100 per patient — a dramatic reduction from the current global cost of more than $500,000. Plans are underway to partner with the Uganda Cancer Institute to produce these advanced therapies locally at Mulago.

Speaking to the press, Dr. Magoola emphasized that such innovations not only strengthen Uganda’s healthcare system but also present significant economic opportunities. “By producing these drugs in Uganda, the government can collect substantial tax revenues to reinvest in the economy and boost GDP,” he explained.

He pointed out that just one cancer drug, pembrolizumab, generates $30 billion annually — a figure greater than the combined revenues of all East African countries.

Dr. Magoola has been widely recognized for his contributions to science and innovation, including being named a national “Face of Science” in June 2025. Recently, the U.S. Food and Drug Administration (FDA) accepted development plans for two of his other products, liraglutide and semaglutide, with Dei BioPharma projecting sales to surpass $1 billion within 90 days of approval.