FINANCIAL LITERACY & PERSONAL DEVELOPMENT

 In a certain financial literacy training a trainee asked me for advice about his financial situation. He was over indebted for several years. Anyone can be in such a situation because we are all human.  From a financial literacy perspective the situation of the above employee requires analysis to understand what led to his predicament. The question is, what led to his outstanding debt? In my years of financial literacy training I have come to appreciate that solving financial issues requires empathy and patience in understanding the unique situation of every client. Since personal financial management is an emotional issue it requires individualized and specialized attention to the client's needs. With out adequate financial literacy training a client is bound to spend based on emotions and in most cases can make financial mistakes. For example without a good savings discipline a client will borrow for consumption and this triggers a debt cycle. In financial literacy training...

 It is the dream of every university graduate to get there dream job. It is not easy to graduate out of campus. So it is justifiable for one to look up to a decent job. While it is ideal is it that simple. With over  40 universities producing over 200,000 graduates per year amidst a job creation rate of about 70,000 jobs youth unemployment requires urgent attention from all stakeholders. The government and many other stakeholders are doing their best in their effort to combat the unemployment dilemma.  The social ills of youth unemployment can be felt in terms of increasing crime and greater search for green pastures. Though the situation seems overwhelming the Chinese say that where there is a crisis there is an equivalent opportunity. After being in the youth mentorship space for some time, I have observed that a key ingredient to combatting youth unemployment is intentional and deliberate personal growth. Amidst youth unemployment there are youths who have decided to e...

 In the national media yesterday(28th August 2024) the GROW project aimed at empowering women led businesses was launched. It emphasizes lending to women entrepreneurs at an affordable interest rate. I believe with the right execution it will leave a positive trajectory on women businesses. The emphasis of this article is to highlight the importance of business development services. The invisible forces that drive business growth seem to be under rated yet they are very critical. A business may have all the funds but without a clear strategic direction it may not see its first birth day. Uganda has been credited as one of the most entrepreneurial countries in the world. Despite this good news most of these businesses do not see their first birth day. So the question is what is the missing link? Apart from a tough economy what else can explain the reasons why Ugandan businesses struggle to break even. Why is subsistence agriculture prevalent in a generation of modern technology? Why...

 I listened to an audio about the beginnings of Enterprise Uganda which started in 2001. Today it has nurtured world class entrepreneurs such as Victorious schools and KinderCare. Mr Charles Ocici, the Executive Director gave numerous examples of ordinary citizens who came to the entrepreneurship trainings without any knowledge but today have several businesses. This message is very critical in an era where formal jobs are scarce( this is not good news to any graduate who has spent many years at university toiling but some times the truth sets you free). Even stakeholders doubted the impact that Enterprise Uganda would have but today the testimonies are overwhelming.  Every human being has infinite potential in them. Google started from a garage. Coca Cola started as an idea. KFC which is a global empire which was established by Colonel Sanders started during his retirement since he had a chicken recipe . His idea was rejected by different funders. Equity Bank which is a finan...

 How comes am not as successful as my colleagues was a question that I was asked by a certain  youth during a recent financial literacy talk at a certain university. This is one of the dominant questions that runs in the minds of most people ( even if they do not admit it publicly). The human mind is wired to compare with its circumstances. It is the desire of every human being to be better than they are and that is a noble aspiration. Dr. Myles Munroe noted that the ignorance of purpose leads to abuse of potential . Just recently in the news there is a man who admitted to having been part of the people who killed a prominent business man in town( this is an abuse of potential).Last year a suspected witch doctor was arrested for killing two innocent children in Kiboga District.  Without knowing our God given potential we are bound to abuse it . We have seen international musicians destroyed by drugs . In a nation that is predominantly youth, the message of potential and p...

 Education is one of the greatest gifts to humanity. The development of a nation is hinged on the quality of education that its citizens receive. I should commend the government and many other development partners for the tireless efforts in reforming the education system so that it matches the highly competitive and fast changing world. Statistics show that over 70% of Ugandans are below 30 years. This proves that education is a very demanded commodity in the years to come. There are many interpretations to education. What quality of education meets the needs of the fast changing world? I have met some university graduates who struggle or who can not write application letters for their jobs. The essence of this article is not to criticize the education system but to bring some reflections so that we can make improvements in a fast changing world. I have met many graduates who confess that the many of successful entrepreneurs in Kikuubo ( Kampala's business hub) never reached unive...

 It is the dream of every graduate to get their dream job. The truth is that it feels good to graduate and get your coveted academic transcript. I interact with so many young people in terms of mentorship and giving them advice on how to navigate the world. My observation is that very many youths have a lot of potential but they need guidance. I have also observed that in real life nothing comes by chance. We all need mentors regardless of age and experience. Let me ask a question, how come even presidents have various advisors? The nature of Uganda's education system has always emphasized "focusing on passing exams so as to display our brilliance" . The good news is that this is changing through education reforms  but it will take time to change the narrative. Why is this the case ? This is because if one spends over 20 years in a system that encourages them to pass and wait for success in the real world then it is too late. I have seen graduates stuck on looking for job...