FINANCIAL LITERACY & PERSONAL DEVELOPMENT

 At a recent stakeholders meeting Equity Bank was praised by the youths for enabling them to start businesses. The youths were provided with free financial literacy training and access to loans. In a nation where over 70% of the population is below 30 years , youth unemployment is one of the most pressing issues in the country. The stereotypes such as age and gender can no longer hold as bottlenecks to entrepreneurship. With the right mindset and training any individual can start up a business and it succeeds. It should be noted that some of the leading entrepreneurs in the world never reached university and are employing graduates. On a good note Uganda is credited as one of the most enterprising countries in the world. We should celebrate this trait by encouraging more youths to start up businesses. The dominant thought among most of the youths is to sell off their property such as land and go to the Middle East. This may not be bad. The question is why is it that other people fr...

 It is the desire of every person to achieve their financial goals. The question is why is it a tall order for most of us.  That is when we need to go back to the drawing board. It is said that Rome was not built in one day. Short term financial goals are those goals that one strives to achieve within a day, week, month up to one year. Long term financial goals are those goals that one strives to achieve beyond one year. The understanding of this difference is financially liberating because it helps a person to plan accordingly and set meaningful and realistic goals. Why is the gambling industry thriving in Uganda? It is because over 70% of the population is below 30years and this age group is dominated by the desire to get instant wealth and abnormal gains in a short period of time. We live in a generation that undermines small coins and not knowing that if saved consistently these coins can achieve so much. The failure to grasp the concept of short term and long term goals e...

 There is no doubt every person that is alive wants to improve their financial circumstances. There are so many ways to achieving financial freedom. Among these strategies are ones that are disastrous. A few years back there was a company that duped many Ugandans and they lost their hard earned money. What is so hurting is that some people in their retirement used their retirement funds. In the Daily Monitor of 24th May 2025 it was reported that a number of youths were addicted to gambling to the extent that some students up to university level used their tuition to gamble in the hope for instant returns. Just a few years ago there was an online women investment club where women were implored to save regularly and in the end the investment club vanished. The above cases are a pointer that when dealing with money issues caution is important. Not every glaring opportunity is ours. In the Daily Monitor report it was shared that some individuals even mortgage their houses during sports...

 Recently I met a young entrepreneur who pointed out to me that his business was struggling. I quickly asked him if he belonged to any group. He told me no. This is where problems in life start from. No man is an island. Did we know that the most successful entrepreneurs in Kampala belong to a group? The question is why would rich people come together yet they have money which solves most of the society's problems. The wealthy people are the first to subscribe to clubs such as Rotary International and Lion's Club. They are able to share ideas and seek help where they need it. Manufacturers in Uganda belong to Uganda Manufacturers Association and Banks belong to Uganda Bankers Association.  I have interacted with so many youths especially at university where some assert that they do not require to belong to any group. Many after university lectures just go back to their hostels and relax. In terms of social capital they take little time to invest in building social networks. Th...

 At a recent financial literacy training session I asked the trainees present whether they possessed bank accounts. To my surprise half of the class did not have bank accounts. The lesson is that in today's fast changing world financial literacy is not an option but rather should be seen as a lifestyle. Banking has been democratized thanks to technology. No one should be left behind. Today the phone is the new bank and all bank transactions can be done on the phone such as checking balance and even borrowing on phone.  For a long time youths or customers asserted that there are longlines in banks but this is no longer the case with the introduction of digital banking and agency baking. Today one can bank close to their home and this reduces time and costs. The myth that one requires large sums of money no longer holds .This is because a customer can deposit as low as 5000/= at Equity Bank. In my journey as a banker and financial literacy trainer I have seen so many lives chang...

 Over 70% of Ugandans are below the 30 years. Universities graduate over 400,000 students per year. A MasterCard Foundation report recently showed that over 12% of the graduates are unemployed. A recent media article showed that over 50,000 university graduates were boda boda cyclists. This is not to undermine the role that boda bodas play in enhancing the lives of the youths. The key message is that the challenge of youth unemployment needs to be  addressed. The government has played a critical role in providing opportunities for the young people in  terms of programs such as Youth Livelihood programs and Parish Development Model among others. There are so many development partners that are skilling youths and indeed these are steps in the right direction. Commercial banks such as Equity Bank have enhanced the lives of many youths through providing free financial literacy training and access to affordable loans. As a financial literacy trainer/coach for the past 5 years ...

 I once read a statement from a great Ugandan Coach which stated that our dreams are valid . I want to give some insights to this statement. As a Coach, mentor and financial literacy trainer I have spent the last 5 years in the field of training youths across Uganda . I am always grateful for the lessons and experiences that I have picked up along the way. I should say that Uganda's youths possess a lot of untapped potential. I should also emphasized that this potential requires mentorship to be mined. In mentoring various university students my attention has always been the kind of statements that they make about the dreams for the future . Where as there are some youths who believe in the beauty of their dreams, I can say confidently that I have met countless youths who are either not dreaming enough or fear to dream. There is this particular youth who asserted that he did not require financial literacy training because he was still studying. In trying to analyze his point of vi...

 I was fortunate to attend an Abundant Leadership training organized by Kurumbuka Leadership Institute. It was an amazing seminar where we were challenged to focus on our mindsets. To be a good leader we have to be intentional in building our mindsets. This is because as noted by Dr .John Maxwell , everything rises and falls on leadership. The best way to develop an abundant minded mindset we need to start from an individual level. As a financial literacy trainer I have trained countless youths across the country .One of the lessons that I have picked is that they way we view life determines most of our results. A number of leaders see the world as half full or full of challenges. This means that when we focus on lack our creativity is undermined. As I move across the various parts of Uganda I realize that Uganda has very many youths with a lot of potential. However many of these youths focus on what they lack. This encourages a dependency mentality. This explains why a number of a...

 While reviewing a book called Think and Grow Rich by Napoleon Hill in a certain book club I came across a life changing idea that ideas are more important than money and we should let the ideas grow and blossom. The question to the dear reader is do we have the patience that Thomas Edison possessed when he tried over 1000 times and failed but did not quit his vision. There were many people at that time who laughed at him but he decided to learn from his failures. Today we have the light bulb. Many of the most successful men and women were doubted at the time but today have big companies. What about Colonel Sanders who was rejected by various investors who did not believe in his dream. Today KFC is a global company. It seems whenever someone starts something new they should not expect world applause. Many have their ideas indraft form because they fear to fail. This is most common among the educated and the adults. We fear to be judged by the public .We need to know that nobody ca...

 I have conducted grassroot financial literacy training for the past 5 years. I should say that one of the most controversial topics is money. In fact when some people hear you speak about money it is an emotional trigger. Many people in Africa have bad memories about finances. Money has caused divisions among African families to the extent some siblings cannot see eye to eye and cannot talk. This is not news .It is actually a common trend. Money has caused divorces and separation. Money has made previously close friends to separate. Remember without a cohesive society development cannot happen.  Why does money have a lot of potential to destabilize society. We all know that money is a currency of life. Without money life becomes tough. Whereas money is important in our lives ,It has caused a lot of damage in families as seen above. In examining why that is the case I refer to Indian families that have established family businesses for years and are contributing to socioeconom...

 We are living in an interesting generation. Almost everyone is interested in earning before working. I have been a financial literacy trainer for the last 5 years. I have interacted with countless groups of youths who prefer instant riches. We are living at odd times where the youths are fast losing the desire to work hard and prefer to earn money without any sweat. On 24t May 2025 there was a headline that indicated that many of Uganda's youths were addicted to gambling. The article went on to indicate that these youths had become financially distressed and some had dropped out of school. There are many youths today who wake up to take alcohol early in the morning simply because they have nothing else to do. I am not denying that there are limited formal jobs in the country. However the lack of a formal job is not an excuse for not doing anything constructive. This even applies to university graduates . A number of university graduates with good degrees have failed to get the for...

 It was the late Dr. Myles Munroe who noted that the wealthiest place in the world was the cemetery. This is because so many people die with their dreams not acted upon. Did we know that the greatest companies in the world started as mere ideas. KFC which is now a global company was started by Colonel Sanders at the age of 65 years in his retirement. Was it easy for him? No. His idea was rejected by several investors but he continued to believe in his vision. Equity Bank started as a building society in Kenya and today it is one of the biggest financial conglomerates in Africa. The question is what of the founders had feared to dream big?  In a nation where over 70% of the population is below 30years the youth have a lot of potential. Unfortunately a number of them are unaware of the enormous potential that they hold. In a Daily Monitor article that appeared on 24th May 2025 there was a head line that read that many of Uganda's youths were addicted to gambling. The youths are ...

 When I read about great men and women who have changed the world most of them have mentors who changed their life perspective from an early age. When one reads about the great leadership guru Dr .John Maxwell he attributes his success to his father who intentionally mentored him from an early age. He exposed him to great books and conferences where he learnt best practices in leadership. This means that no one can succeed on their own. There are so many people who have walked the journey that we want to walk and why should we reinvent the wheel? For the last 5 years I have been providing financial literacy across the country especially to the youths who form the majority of the country. One of the great lesson that I have learnt is that the youths of Uganda are very enterprising and full of potential. However what I have seen missing in some of them is the intentionality in seeking mentorship. A case in point is a university student whom I asked whether they had a career mentor an...

 A few years back there was a youth who struggled with life due to lack of access to a decent job. He was able to attend a financial literacy training that I organized in a certain community. This was his turning point. He learnt the causes of excess debt and why he did not advance financially. The youth was able to make gradual shifts in his financial behavior. With this shift he became more confident of what he could achieve. Today he owns a successful business and he employs other youths .This is evidence that anyone regardless of background can change his or her financial fortunes. As a financial literacy trainer who has been in the field for the past 5 years I have seen several examples of men and women who altered their financial lives simply because of willing to seek financial mentorship.  We need to know that money is a mental game. The wealthiest men and women are deliberate in improving  their financial decision making skills. The fact that a person has a degre...

 Over 70% of Uganda's population is below 30 years. When one talks with various youths a number of them are dissatisfied with what they are doing. In fact I have talked to a number of them and their priority is to seek greener pastures when they get a chance. This is evidence that the country is likely to lose its productive labor if the issue of labor productivity is not given urgent attention. For the past 5 years I have been engaged in grassroot financial literacy training I have observed that Uganda's youths are very enterprising. However the missing link is harnessing their potential by establishing savings groups that can help them build cohesion and pool resources for business development. It is a fact that developing alone is always a hurdle but there is magic when a group of people come together to pool resources and invest together. It seems Uganda's education system is partly to blame for the individualism among Uganda's youths. At school one is trained to re...

 At a recent financial literacy think tank conference ,a digital expert challenged the financial literacy experts in the room to scale their presence on digital platforms. She was right. Today the world is driven by technology. Over 70% of Ugandans are below the age of 30 years. Most of them have phones and are addicted to social media. If big institutions such as banks and television networks are prioritizing investing in digital technology there is a lesson for any practitioner to emulate. The advantage of technology is that it can scale. One article can be read by various readers across the globe.  We cannot avoid digital presence. As a financial literacy practitioner I can not avoid to leverage on technology to share insights that can add value to society. In the 5 years of providing financial literacy training to grassroot communities I have seen it first hand why we need to share useful insights that can help individuals in our communities. Most people in society have ph...