UPDF veterans tipped on savings

 

 

KABANYORO - Retired army veterans have been advised to invest in their retirement package in order to remain relevant in society.

 

While addressing the 196 retired army officers, who are on a four day skills training programme at the Makerere University Agricultural Research institute, Kabanyolo, the Minister in charge of veterans Bright Rwamirama, urged to develop a savings and investment culture such that they are able to survive among the civilians.

 

"Take care of your money. Put it in productive enterprises and save and only spend what is left after saving," he told them.

 

He also advised them to organise themselves into groups such that they can easily attract help from financial institutions.

 

"We are preparing you for retirement, you must change you have retired from  the army and are now on your own, Government can only support you if you organise yourselves in groups," He added.

 

(L-R) Executive Director Private Sector Foundation Uganda Gideon Badagawa, Executive Director Private Sector Foundation Uganda Gideon Badagawa and Lt Col Jack Mugyerwa addressing participants during the Wazalendo SACCO training at Makerere University Agricultural Research Institute Kabanyoro on Tuesday. (Credit: Nancy Nanyonga)

 

The skill training is funded by the Private Sector Foundation-Uganda (PSF-U) and conducted by Wazalendo SACCO. So far sh330m has been injected into the project. 910 veterans are to benefit from the training.

 

Rwamirama who also announced his intentions to contest for the Isingiro North Parliamentary seat, the fifth time, advised the veterans to desist from reckless expenditures and focus on how to survive as a civilian.

 

"There is no free lunch here. So you must work hard and use your skills to earn money. Remember you will no longer receive monthly salaries," he advised them.

 

The ChairmanPSF-U, Gerald Sendawula, told the officers that part of the reasons why PSF-U is carrying out training is because the country is lagging behind in skills development.

 

State Minister for Defence and Veteran Affairs Bright Rwamirama (right) interacting with Assistant Director Makerere University Agricultural Research Institute Kabanyoro Dr Stephen Lwasa during the Wazalendo SACCO training. (Credit: Nancy Nanyonga)

"Work together in associations and it will be easier for us to offer you the training and the funding once you are in a group," he advised.

 

The manager of Makerere University Agricultural Research institute, Kabanyolo farm, Chrystom Tweyambe said the institute trains different people who are interested in agriculture and explained that the centre conducts research to people who want to become enterprising.

 

He however appealed for funding to improve on the research centre.

The veterans are training in piggery, poultry, horticulture, aquaculture and goat rearing among others.