How 29-year-old Kato built his sh600m fortune

While most Ugandan parents push their children to study hard and get good jobs; become 'slaves' of someone else, Joseph Kato's did exactly the opposite. Whilst encouraging him to stay in school until he graduated from university, they set him on the path of financial freedom from a very early stage.

They wanted him to become a successful entrepreneur.

 

He started out working as a casual labourer (potter) at his parents' construction sites for pay in primary school.

During his S4 vacation, Kato worked in his mother's shop, vending off-cuts of curtains. She helped him open his first bank account and, even when he joined high school, she faithfully carried on his business back at the shop and kept him posted on the progress.

By the time Kato reported to resume S5 third term, his capital had accumulated to sh10m.  During his third term holiday, he used sh4.5m of the money to buy his first piece of land in Wakiso near the Town Council offices.

 

When money got to his young mind and he wanted to quit school, she showed him the folly of his ways. Kato's mother reaped more than she bargained for.

Today, at only 29, he runs six successful companies under KAWA Group of companies worth over $182,000 (sh602.5m) and employs 30 people.

 

Find his story in Pakasa only in The New Vision. Check out and like @pakasa vision for more