The Coordinator of Initiative for Rural Development – Uganda, Bbala Eric has advised local citizens to invest time and resources in acquiring knowledge on financial literacy so as to uplift their livelihoods. “We are poor because of ignorance for instance when we go to invest we invest in poor breeds of cattle. People in the developed countries have a lot of information on savings, investments, planning for old age, credit management and financial service providers among others,” Said Bbala while appearing on the orukurato live radio discussion on 20th December, 2014 to discuss issues of financial literacy.
Bbala added, “to develop in business, you need to know how well to use the finances which doesn’t need to always be a lot because even with little money you can save and invest. Today the economy of Uganda is performing poorly and therefore to uplift our livelihoods, we also need to forego some luxuries like alcohol.” Said Bbala.
Bank of Uganda Headquarters which is spearheading a financial literacy project with GIZ
Bbala indicated that it’s important for people especially the youth to improve their entrepreneurial abilities because even the jobs are limited for the many skilled workers, “We have many students graduating but the jobs are very minimal and hence the need to be more financially literate to better plan for the little we have.” Said Bbala.
The orukurato live radio discussion which is supported by ToroDev in partnership with Hits FM and broadcast every Saturday of the week (08:00 – 10:00pm) was also attended by Ngabirano Charles and Baherirwe Anthnas who are small scale entrepreneurs from Rwimi Sub County, Kabarole District.
Baherirwe Anthnas also advised local citizens to equip themselves with more information and knowledge to improve their businesses, “We got a lot of information from many partner institutions like RUDEC. I benefited a lot in-terms of business skills. However there is also need for proper planning to develop because developed countries like Germany were poor but are now well off because of proper planning” Said Baherirwe.
Listeners of the orukurato live radio discussions also participated through call-ins, SMS and online especially on the orukurato facebook page [https://www.facebook.com/groups/1451619451731153/] for instance Edward from Kabarole called-in and encouraged listeners to form SACCO’s so that government can come in and support while Happy Stephen from Bunyangabu, Kabarole district called-in and requested some information on how people can be part of SACCO’s.
The orukurato live radio discussion is also supported by SIDA/CIPESA and NED and moderated by Kasigazi William.