SOCIAL CAPITAL : A KEY INGREDIENT IN FINANCIAL ADVANCEMENT

 Why is it that leading businessmen in Kampala have a group called Bakwagalana Group? It means that there is power in networking. As a mentor of youths I have interacted with many of them and asked whether they belong to any groups and  have been amazed that many answer that they do not. Should we blame it on our education system that makes us become so competitive yet real life requires collaboration. Most rich and wealthy people support each other to progress. This is a key lesson that we emulate is that we should be intentional in building social capital. It is said iron sharpens iron. Therefore living in isolation can not serve us well. We are living in a very competitive society and if we do not take time to support each other we are in danger. Most people get jobs on a referral basis. A number of youths focus on applying for jobs without taking any deliberate steps to join associations that matter. 

I know of a group of university students who formed an investment club and today it is worth billions in investments . I know of another whatsapp group that decided to form an investment club and bought land in Ndejje . The question is to the dear reader in the networks you belong to how are we using them to become better individuals? How are we using our skills to add value to humanity. Today most organizations are looking for people who will solve their problems. The question to the dear graduand is how are you demonstrating your skills in society even without a job? Chances are high that during the interview they might de more impressed with how you demonstrate your social impact rather than your academic grades. Mother Teresa did not earn a Nobel Peace Prize simply because she had a PHD but rather she used her gift of generosity to add value to the poor in Calcutta. Dr. Muhammad Yunus used his gift of empathy to aid the poor in Bangladesh and out of his efforts Grameen Bank which is a pioneer microfinance bank was formed. Peter Munga of Equity Bank in Kenya used his empathetic skills to help the poor farmers and today Equity Bank is a financial conglomerate in Africa. The lesson to us is that we can no longer afford to live in isolation. We need to make our presence known in the world. In that whatsapp group where you belong do you share views that can add value to the rest?

All of us have skills that can add value to the rest of humanity. We are all vulnerable in one way or another and we need help from someone. What may appear a big challenge may be solved by another person swiftly. We need to embrace the courage of reaching out. So social capital is very key in advancing our finances.

HOW TO ENHANCE OUR SOCIAL CAPITAL

1.Believe in your value

2.Be humble 

3.Be empathetic 

4.Be curious

5.Associate with successful people

6.Be coachable

7. Volunteer your skills

8.Join associations


Ultimately no man is an island. We all need each other. We must make intentional steps to either join o form associations that add value to humanity. If the leading entrepreneurs in Kampala have a group that mobilizes them then we can pick a lesson from them that no one can grow independently.


Phillip Kiryowa 

Personal Finance Coach

Advanced Empowerment Link

+256752615916


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