Learn to save and spend less, Ugandans told

By Ronald Kalyango and Raymond Baguma                

Ugandan-Asian investor in real estate, Miraj Barot of Tirupati Development has challenged youth to learn how to save and spend less if they are to succeed in business.

“Let us learn how to save and spend less. Automatically success will follow. There is no shortcut to becoming successful in business. You need to be patient and stay focused. Don't fear to fall because that way you will learn how to rise again,” Barot said.

He added, “Whenever I close my eyes, I see opportunities everywhere in Uganda that have not been exploited yet,” said the 26 year-old entrepreneur.

He argued Ugandans to try out the available business opportunities that exist in the country.

Narrating his experience in entrepreneurship, Barot said, “I started working with my farther at the age of 14. I saw what he was doing and picked lessons. Since then I have become one of the most respected youngest entrepreneur in the country.”

Barot who was the key note speaker during the inaugural Africa Leadership Awards at Sheraton Hotel on Wednesday, said entrepreneurship can't be taught but is experienced. He said that for any individual to be a good entrepreneur, they should cultivate a savings culture.

The awards were organised to rewarded individuals and government institutions that have contributed to the growth of the country in 2014. During the event, President Yoweri Museveni was awarded the pan Africanist excellence award for his contribution towards continued presence of security on the African continent and prosperity among Ugandans.

The Vice President Edward Ssekandi handed over the plaque to the President.

Museveni also challenged youth to focus on the social economic growth of Uganda instead of spending their time discussing democracy.

“Uganda is over democratic. In fact you are flogging a dead horse. That was supposed to be the topic before we went to the bush. Now that we liberated the country, there is a lot of democracy so the focus should be on using the peace to exploit available opportunities,” Museveni said.

He said Uganda exports a lot of foodstuffs to the neighbouring countries, but wondered about the proportion of the youths’ contribution.

He also lashed out at non-governmental organizations that have failed to invest resources in productive sectors such as like agriculture and health.

“Majority are engaged in advocacy. What are you advocating for? In the army that is what we call misguided missiles. I want you to help my people to get out of poverty by encouraging them to invest in income generating activities like farming,” he said.

Tirupati won the youngest entrepreneur award, while Gen. Elly Tumwine, Pius Bigirimana for being at the forefront of several projects such as the Northern Uganda Social Action Fund (NUSAF) and the Youth Livelihood Programme (YLP).
Also construction company Roko won in the construction category, while Big Five Tourism Club won the tourism category. In the media category, journalist and proprietor of Independent Magazine Andrew Mwenda won.

Other categories included banking which was won by Housing Finance Bank; while Rural Electrification Agency won in the energy sector.

Former Uganda Revenue Authority Commissioner General Allen Kagina, was the woman achiever of the year; while Information Communication Technology award was received by Godfrey Mutabazi (UCC); Vice president Edward Kiwanuka Ssekandi handed over the plaques to the winning individuals and institutions.

The finance category was won by Patrick Muhairwe of Stanbic Bank; while agriculture was won by Anthony Ouzi, a leading sugarcane outgrower in Masindi. Kabagambe Kaliisa permanent secretary ministry of energy won the best civil servant of the year, Case Clinic’s proprietor Dr. Kato Ssebaale, received the best health institution of the year and Nasser Mukwaya was the youth technical advisor of the year.