UGANDAN YOUTHS SHOULD BE ENCOURAGED TO FORM GROUPS

 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 read very hard and pass exams. This spirit of individualism catches up to university .While talking to various university students I have found out that a number of them do not belong to any saving group. This deprives them of benefits of the Mastermind principle where iron sharpens iron. The question that I want to pose to the dear reader is, why is it that the richest businessmen in Kampala have a group that combines them? This is where they build connections and seek support from others. Uganda is a very rich country but the biggest challenge is that many people seek to work independently. There seems to be lack of trust in the majority of the population. If we are to emulate the Indians it can do us good. The Indian businesses are strong because they have the culture of working together. However in Uganda most youths prefer to work in silos.

A number of programs targeting youths such as Parish Development Model are given to youths who are organized in groups. Financial institutions such as Equity Bank give out loans to youths who are in groups. This means that if we are to address youth unemployment more youths should be aided to form groups so that they can benefit from the various economic programs. I know of a group of university students who formed an investment club and today it is worth billions in assets. 

For individual and Corporate financial literacy training contact : 

Coach Phillip Kiryowa 

Personal Finance Coach (CMA)

Master Trainer, Bank of Uganda 

Founder, Advanced Empowerment Link

0752615916

For Financial Freedom and Sustainable Enterprises

        

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