William Kituuka
One of the lessons we have learnt from the Natives in this country is that
every single structure you put into a band, only survives in a band with
good governance. Canada is a very rich country as compared to Uganda, and it
has so many local and international thinkers that have worked with Natives.
Both Federal and provincial governments have pumped millions of dollars into
those bands. But all bands with poor governance have failed. The bands that
have a good political structure, a band that has a well-established system
which is having an accountable system will always be successful. And the
Natives we have seen that are successful come from such bands. I talked
about a band last week where the leader made an exercise of a hunger strike,
the Attawapiskat band has produced so many criminals, so many drug addicts,
and it has the worst suicides in all bands. But that band again has no
political structure it runs on one hand of its leader, Chief Theresa Spence
with so many of her friends as appointed co leaders.
There is no short of plans of things to be made in Buganda, and it is not
only the good suggestion of a banking sector you are writing about, but
Buganda has a land we have waters, we have oil in Lake Victoria, we have the
brains, but all these things fail for a very simple reason, we do not have
the political structure of accountability within ourselves as Baganda and
Mengo. Up to today February 3rd 2013 I dont know a single Muganda that had
money into Teefe Bank that got a compensation, and Mengo is not talking
about it either, we moved on with our lives. You cannot run a public
structure that irresponsibly, and Mengo with all those sitting into it are
very irresponsible to those they so lead, and they dont care. Our job today
must be limited to questioning Mengo what happened to Teefe bank not
advising them to opening up a new one for Ekyaalya Teefe Bank neeyo kijja
kugirya.
Nze awo bwendaba munange
EM
On the 49th
BUGANDA INVESTENT BANK CAN SAVE UGANDA FROM POVERTY
If I were at all influential or a mover of things in Buganda, I would put
all my effort into a successful Buganda Investment Bank (BUGIBA). A well
managed Buganda Investment Bank (BUGIBA) is the sustainable strategy to see
Buganda and Uganda out of poverty.
Buganda does not need to start a Commercial Bank as of now, instead it needs
to mobilize capital locally and internationally to see a soundly based
investment bank in place.
This bank would basically handle big projects that can generate tangible
multiplier effects in Buganda and Uganda at large.
The starting point is to form a Public Limited Liability Company, where all
interested would buy shares. Secondly come up with a very technical and
ethical Board as well as management team of experts in the field; and these
don't need to be a preserve of Baganda.
One area the bank would encourage is the promotion of the growing of plants
that can be used in the extraction of Bio-fuels that can substitute Diesel
use. It is unfortunate that as of now, industrialization based on Hydro -
electric power can not produce goods that can be competitive on World market
simply because the cost per watt hour is out of the ordinary! But Bio- fuels
can run industries that we can target and have goods competitive on
international market, the reason why the bank would take great interest in
seeing locals grow plants that can be extracted for bio-fuels, yet, many
such plants don't need fertile soils.
Buganda needs the existing Commercial banks to help fund the people in their
ventures for the produce which would form the raw materials in the agro-
processing industrialization; and working together with Busoga region for
the start would increase viability of the projects as Busoga has prime land
that can greatly boost agro- processing industrialization. So, it would be
wrong for Buganda to start a Commercial bank whose impact may not be there
given that the existing commercial banks and micro finance institutions can
provide the resources the people need to feed the Investment bank which can
have tangible multiplier effects in the economy once well managed.
The Investment Bank would promote industries which are not generally owned
by individuals. A case in point if fruit canning in Masaka. The industrial
infrastructure would be put in place through use of support from external
source lines of credit and skilled management would be established and the
bank would help in the realization of capital to buy off farmer produce,
while the farmers would reach out to existing financing channels to be able
to produce. When big industrial establishments are opened up countrywide,
chances are that these will be the poles of growth of various regions in
Uganda, and you can be sure, if right professionals are picked and good
supervision network enhanced, then the region and Uganda at large will get
the impact of the bank and poverty would gradually be overcome.
What is needed as of now is not to rush, but come up with an establishment
that will enhance growth that is sustainable in Uganda. The powers that be
MUST avoid the experience of Teefe bank. Merely having influential Baganda
in any bank establishment cannot ensure success. Competent management with
very strict rules can make a difference.
William Kituuka Kiwanuka
Thé Mulindwas Communication Group
"With Yoweri Museveni and Dr. Kiiza Besigye Uganda is in anarchy"
Kuungana Mulindwa Mawasiliano Kikundi
"Pamoja na Yoweri Museveni na Dk. Kiiza Besigye Uganda ni katika machafuko"
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