January 2020
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Month January 2020


Gen Tumwine’s house in his village

By William Ekwelu via UAH forum

In African traditional society every male must have a home in his ancestors village to be called a man, see in future years you may want to retire home upcountry when you nolonger have money to build a house.

I have seen many rich guy in cities being ashamed in an even they loose a loved one and they want to go to village for burrial, you find they don’t have even a road to reach the ramshackled house. Therefore it’s good to put a house in the village regardless of whether it’s profitable or not. We all eventually end up in our villages dead or alive, so a village house is necessary, especially if your parents don’t have a decent home. It just shouldn’t be a very big house if you are on a tight budget and should be done after the town house.

Put up a project there like goat rearing, chicken, pigs… that will implore you to visit more often… we some times don’t go to the ‘village’ because there’s nothing there.

Homes whether in Kampala or village are not for economic purposes. The sentimental value can’t be quantified. If u r to go by economical, u may not need tiles in your house neither do u need more than one pair of shoes. Something are done coz of a value attached that is not financial. As Africans, we should stop thinking of R.I.O at all times. The people who built Europe and America, or any other of the countries that we run to for greener pastures never had any returns on investment but their great grandchildren are benefitting from their sacrifice.

A home in the village is a good thing. This encourages people to have regular visits to parents without the worry of sleeping relatives’ homes. Even President Museveni has Rwakitura and the George Bush family has KenneBunk Port. Ugandans do not realize most citizens of the world are not land owners. In Uganda it is almost 100%. All land is invaluable

TREASURY BILLS and BONDS and how one can gain from them investment wise

Make Money with Idle Money – Part 1

Do you have a sum of money ‘lying-idle’ in a bank account waiting for a future date for it to be used? You can use it to earn you more money as you wait, other wise idle money in your savings accounts make the banks rich.

For instance you may not need the money for another 3 months or so but you cannot afford to lose it, this means that you need a risk free investment. There are probably very few investments that can be classified as safe and risk free. This is what makes investing in government securities (Treasury Bills and Bonds) a very attractive prospect, especially for conservative investors.Currently the yields (interest) ranges between 12% to 16%. You can get updates on the Bank of Uganda website for those investing in Uganda.

For short term cash flow management, investing in Treasury Bills is a good option to consider and earn a reasonable interest. You can time the maturity dates to when the funds will be needed. Treasury Bills are structured in three maturities: 91-days, 182-days and 364-days and issued every fortnight. Treasury Bills are government security and are issued at a discount and offer a competitive rate of return.

You can invest in the Bank of Uganda (BoU) Treasury bills with a minimum of Ugx100,000. The sum invested should be in Bids must be in multiples of Ugx100,000. Bid volumes ranging between Ugx100,000 and Ugx200,000,000 are classified as non-competitive. Bid volumes of Ugx200,100,000 or more are classified as competitive.

The difference between competitive and non-competitive bids is that with the former, you must indicate the rate/price you would like to earn on your money invested and the bid must be above Ugx200M. On the other hand, non-competitive bids range from Ugx100, 000 to Ugx200M and the investor does not choose his own interest rate when bidding; non-competitive bidders take a market determined average rate from the auction. In this regard, all bids must be submitted through a primary dealer and must reach the BOU headquarters by 10.00am on the day of the auction.

Regarding payment, all successful bids must be paid for on the next business day after the auction. The primary dealer is responsible for payment of all the bids of his participants (individuals and organisations).

What you need to do is open a Central Depository System (CDS) account at Bank of Uganda by filling CDS Form 1, CDS Form 7, CDS Form 9A/B, CDS Form 8(if it’s an organisation) and sign a CDS Dealing Agreement. You then have to submit these account opening forms through your primary dealer bank for their endorsement and know-your-customer purposes. These forms are available at BOU website as well as from the primary dealer banks.

To participate in an auction, a registered investor submits bid orders through a primary dealer. These are commercial banks appointed by BOU and include: Stanbic Bank, Standard Chartered Bank, Barclays Bank, dfcu bank, Bank of Baroda and Centenary Bank.

• They offer a competitive rate of return
• They are risk-free instruments
• Saving mechanism
• They are very liquid; can easily be sold in the secondary market
• They can be pledged as collateral for borrowing

“Guard thy treasure from loss by investing only where thy principal is safe, where it may be reclaimed if desirable, and where thou will not fail to collect a fair rental (interest)” George Samuel Clason

To your success!

Visit Capital Markets Authority at IPS building, 7th floor and someone there will enlighten you on what you want to know…. Or better still, visit Uganda Securities Exchange


With the many taxes looming over Uganda, you have to make more money to cope up. This means that you have to put every coin to use to gain more before you meet your obligations.

I previously wrote about Treasury Bills as one of the ways to make money with money you do not need for immediate use. Another option you would consider is Fixed Deposit and Unit Trust. In this part 2 of Making Money with Idle Money, I will focus on Unit trusts.

Treasury Bills attracts a 20% WHT on the interest earned while Fixed Deposit attracts 15% on interest earned. Unit Trust is the more tax efficient investment since there in no tax charged on interest earned.

A unit trust is a collective investment scheme, which pools investors’ capital into a fund managed by a professional fund manager. The fund is invested in a diversified portfolio of equities, fixed income securities and other assets as permitted by a trust deed.

I have interacted with 3 Fund managers namely:
1) UAP Financial Services Limited (Part of Old Mutual Group)
2) ICEA Asset Management
3) Stanlib

Whichever you choose, confirm that they have licenses from Capital Markets Authority (Uganda) and the Uganda Retirement Benefits Regulatory Authority to carry on the businesses of Investment Advisory and Unit Trust Manager.

I would recommend UAP Financial Services Limited Unit Trust Funds, UAP Old Mutual Uganda because of:
FLEXIBILITY; You can redeem part or all of the money and top up at any anytime you feel the need to.
LOW MAINTENANCE ; Most Fund managers charge 2% management fees. You can enter and exit a fund without time limitations and with zero withdrawal charges.
LOW RISK; Unit trusts are governed by Trust deeds according to the Capital Markets Act with third parties involved that monitor the management of the fund.
TAX EFFICIENCY; The Collective Investment Schemes (CIS) Act 2003 exempts the Unit Trust from paying any form of Taxes on the returns of the fund. So you will gain all the interests as stipulated on the monthly statements.
COMPOUNDING INTEREST; the fund returns are computed on a compounding arrangement on a daily basis to enable comprehensive returns for you.
MONTHLY STATEMENT; A good Fund Manager should send you monthly statements for easy monitoring of your investment performance
ENTRY AND EXIT; entry and exit in the fund by you is open at no charges. You can also re-join the fund at no cost. The process of fund transfer is T+3 days.
CASH TRANSFER; whenever you need money from the Fund, you will fill in a redemption form and send to the Fund Manager and the transfer will be done to your bank account.

Similar to Treasury Bills, most of the fund managers prefer investments to be made in multiples of Ugx100,000.

Benjamin Graham said an investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative. I have now provided you with three investment options that meet that above criteria.

These investment options are passive enough even for the employee who has no time for investment ventures that are too demanding.

With best wishes!

Is Property in Uganda worth their price tags?

5 bedroom Mansion in Ntinda, Uganda

By Edris Kiggundu via Facebook

Yesterday my friend Denis Jjuuko, posted something.He wondered why it is cheaper to buy a house in California, USA than to buy a PLOT of land in Kololo or Munyonyo

I grew up in Ntinda-Kigowa from the late 1980s till 2004 when I left home to start my life. My father bought that piece of land (roughly half an acre) in the early 80s when I had just been born. Even when it was located in a prime place (just below Kalinabiri Schools) and serviced by a tarmac road, it did not cost him more than Shs 5 million (using today’s monetary value). Until about 2009, there was still an empty plot not far away from Mzee’s land. It was small (roughly 50 ft by 70 ft) and belonged to someone who had decided to relocate overseas.The plot was eventually snapped up by a prominent personality who I was told paid a cool Shs 900 million for that small strip of land. He has since put up a nice block of apartments (six in total) but you can hardly park two cars in the compound. I remember telling Mzee that I thought the figure (Shs 900 million) was very inflated. He asked me what the value should have been. I told him not more than Shs 150 million.

“But this is Nitinda,” he retorted. “Not Kiwatule or Najjera.”

I thought to myself: What is so magical about Ntinda?

Nothing apart from the historical name and presumed close proximity to the city (which is also cancelled out by the nasty traffic jam).While Ntinda is fairly better planned than so many up coming suburbs, it still has potholed, narrow access roads. There are pockets of insecurity and congestion has set in as offices set up shop there. Yet you constantly hear that newly built houses in Ntinda are going for $1 million and wonder the justification for the prices.

When we went to Ntinda in 1987, Most of Naguru was a big bush and was sparsely populated. Land there was cheaper than Ntinda.
Naguru is now considered very prime and you hear plots of land going for $2 million. You would be lucky to find one.

Why would I buy an empty plot of land in Naguru for $ 2 million (minus the costs of grading it) and yet for the same money, I could buy four fully furnished two-bedroom apartments in Dubai ( each at $500,000) and start earning from them immediately?

Would you rather buy the house in the potholed Bunga for $1 million or use that money to buy at least two three bedroomed fully furnished houses in Palm Jumeirah?

The following are businesses to start with Ush 30,000 to Ush 150,000 in Uganda

The following are businesses to start with *Ush 30,000 to Ush 150,000* in Uganda
1. Selling Vegetables
2. Hawking anything used by human beings.
3. Selling Mivumba clothes
4. Car wash business in small towns
5. Shoe shining business
6. Photography
7. Rearing local breed chicken
8. Mobile manicure bodycure
9. Chapati/pancakes
10.Roasted ground nuts/soya/popcorn/simsim

Business to start with *Ush 300,000-Ush 3,000,000*
1. Kinyozi/Barber shop
2. Salon
3. Grocery
4. Boutique in small towns
5. Selling women handbags
6. Selling women clothes/children clothes/men shirts
7. Farming tomatoes, onions, pineapple, watermelon, maize and beans.
8. Photocopy, scanning and printing business
9. Investing in shares and bonds
10. Processing all agricultural products into soft drinks/honey/meat products/fish/milk

Business to start with *Ush 5,000,000-Ush15,000,000*
1. Fast Food Restaurant
2. A small pub
3. Hotel of 1 star
4. Classic Barber Shop
5. Salon/dry cleaning services in posh estates
6. General shop or groceries
7. Laundry contract business
8. Classic Car Wash
9. Starting Mobile money Shop
10. Starting banking agency business
11. Starting motor cycle spare parts business
12. Starting a cosmetics shop
13. Starting Audit firm
14.Starting a consulting firm

Business to start with *Ugx 15 million to Ugx 30 million*
1. Electronic shop busines
2. A pub in major cities
3. A restaurant in CBD
4. Fast Food restaurant in CBD
5. A jewelry shop
6. Furniture making business
7. Large scale farming or tree growing and sale after 5years
8. A school or rental housing units
9. A SACCO or buying land for sale to other people at higher price after 1 year
10. Starting wines and spirits wholesale shop
11. Starting a bookshop
12. Starting a taxi business
13. Starting a motor vehicle spare parts business
14. Starting a chemist shop
15. Starting a security firm
16. Starting a recording studio

Business to start in Uganda with *over Ush 300 million*
1. Building large scale rental houses
2. Real Estate firm
3. Starting business of supplying services of earth movers
4. Subcontractors/applying for tenders in any business
5.Research into future products and needs


Piggy Banks should be encouraged to Kids

By William Ekwelu via UAH forum

I see some people talking about saving in a piggy bank of sorts and looking for expensive ones to buy for themselves and their kids. I personally prefer well decorated piggy banks. They make saving coins fun. U just open waiting for the surprise.

Very cheap options include but are not limited to:
1. A 3-litre cooking oil jerrican.
2. A large soda bottle.
3. Water dispenser bottle

For jerrican and soda bottle, you can put super glue in the lid and then screw it on so that you can’t open it easily, then make a slit in the side to insert your money.

No need to spend much to save or teach the kids to save. this can be a stepping stone to that. I know someone who uses this method with the kids and then they open it and deposit it with the child in the child’s bank account.

A locally made piggy bank or usually “ka box” is not expensive. It costs much less than a big soda. Remember those water dispenser bottles are re-usable, it is not easy to land at one that has been disposed off.

And I think the idea is not to have your money in a transparent container, that could tempt you to get it out and sort a problem


There are 2 types of Laws of finance:

This law states that work alone or work under someone and remain poor for the rest of your life. 95% of people in the world are living under this law. The people under this law make use of their credentials, they have ego, they seek for job, they have someone called boss, they receive salary which is fixed amount.

S= Small
A= Amount
L= Limiting
A= And
R= Restricting
Y= You

These people are called the working class. They always look for job.

J= Just
O= Over
B= Broke

This law states that work with a team or group of people and remain wealthy forever, it is just 5% of people in the world that are living under this law. The people under this law make use of their potentials, and they are called the thinking class, they think of what to offer to the society and in turn make money. These people they earn their money which is income and it is not a fixed amount. These people are called the thinking class.

_The difference between these laws is that the people under the_ LAW OF POVERTY_don’t make use of opportunity.. while those under the_ LAW OF WEALTH _make use of any opportunity that comes their way. The wealthy ones make use of ID Number and also Partnership,they have what is called big dreams but the poor don’t have._


Money does not respond to qualifications
Otherwise the wealthiest people should have been Ph.D holders.

Money does not respond to age Otherwise the world’s oldest twins would have been the richest.

‍ It is not about your degree.
It is all about what you do after the degree.

‍Have you noticed that the 1st class degree holders are not the Richest.
Neither are the 3rd class degree holders the poorest.
There is more to being wealthy than education.

The most important thing is Mindset👌 and the next thing is a Commitment to self DISCIPLINE.

The only person holding your key to success is #YOU.

The secrets to success is for you to be willing to pay the price but the challenge is that very few are ready and willing to pay the price to succeed.

While some are partying and gisting, others are learning, planning and earning.

Don’t sit down and complain about where you are, it won’t change anything.

If you must see changes, the person that must change is You.

Be assured… YOU HAVE ALL IT TAKES TO Succeed, learn to invest the little you have and get a mentor to teach you how to grow your money.

There are two kinds of pain:

ʟᴇᴛ’s ᴛʜɪɴᴋ ᴀʙᴏᴜᴛ ᴛʜɪs

The moment you get out of bed, wash your face, water Company Ltd. National water and sewerage will be reading their meters. You brush your teeth, Mukwano or Colgate will be earning on you. When you Charge your phone UMEME will be reading their meter. When you move from your house to the office, taxi owners,are making money on you .
If u are driving Petrol Station Owners will be collecting their shares and when you check your WhatsApp, Facebook and other social media, MTN, Africell and Airtel will be making money on you!

So before you get out of the house you have already paid all these companies something. You have already spent money.
Let’s not even talk about the rest of the day.
So if you are going to bed without making money, how are you going to manage all these bills??

Do something about your life today.
Start thinking about how to make money everyday. Think Residual Income Start with a small targeted amount and grow as you go. Start with something that will give u even if its 500 Ug shillings a day. Its better than going to bed without making even a 1000 shillings
Let’s Put our faith into action, take risks and start something!

SALARY alone can not solve your money problems. You need Secondary Source of income to balance.
SALARY is a MEDICINE for managing POVERTY, it doesn’t CURE it. Only your BUSINESS or INVESTMENTS Cures Poverty.
Be Financially Intelligent… Have a Plan B

That house you renting is not yours

Nice Bungalow House In Uganda

That house you renting is not yours..Dont buy expensive things for it..u buy a plasma tv At 2m those are 20.000 bricks..u buy leather chairs at 3m thats a deposit on a plot of land in case u want to make bricks on it u save the 2m..U have a smartphone of 1m those are 30 bags of cement..u buy a fridge u rarely use at 1.5m those are as many iron sheets etc..My advice is save as much as possible before u spend..U can also own a good home. I rather own a 1-room house than driving a 20m car parked at landlord’s place.

We all know money has a corrupting and diverting aura making all priorities options and options priorities – wc I must add is the devil at work. Then after we hit a streak of low down, the words “I wish” become our most used words for the rest of our lives. Imagine there r even plots of land at 3m and we outrightly go for the killer jackpot of renting a 500 to 800k apartment, driving a 20m car, and those other unnecessary accessories u mentioned. And all coz most times its to impress a girl or friends. A good spiritual foundation allows us see that most of the things we spend our money on either don’t glorify the LORD, are dangerous to our lives or are very unnecessary.

Copied from UAH Facebook forum

Nothing is as expensive as poverty

Nothing is as expensive as poverty. When you are poor, you basically pay more for everything. It is a prison that charges you rent for being under arrest.

I used to think it was cheaper to be poor. Now I realize it is the most expensive thing in the world. Number one reason most relationships break up? Money.

When you are poor, you can’t even run a relationship let alone a friendship. You are in a super trap.

Poor people cannot even get a bank loan. Like what are you even going to stake there? Your life? Poor people can’t even have an opinion. No one even laughs at a poor man’s joke. But for a rich man, all his jokes are ever funny.

Poverty charges interests on everything. You live in a place that floods when it rains. Now you can’t even do anything else the next morning except wake up and clean up the mess. You set up an appointment, it rains and you can’t even make it their on time.

You buy a cheap shoe, before long, it is worn out. Now you have to buy another shoe. A taxi decides to charge more, now you have to wait on the stage until a cheaper one comes along. There you go, time gone and by the time you arrive where you are headed, the opportunitu has passed.

Guess who gets the discounts? It is the rich who buy in bulk. You have no idea how everything is cheap when you can buy it in bulk.

Guess which cars are flagged down by the traffic officers? It is the cheap cars. It is very rare to see a Range Rover flagged down. What is there to even discuss? Now you are driving your tattered car, you are flagged down, you have to part with something. Before you know it all, you can’t even pay off the mechanic.

If there is one mission for a man in life, it is to escape the poverty trap as fast as possible. It is like there is tax for being poor. You basically pay a service fee for being poor.

Bottom Line: Don’t be poor. You end up as the in-law who fetches water and firewood at a funeral.

Poverty robs you of choices in life. A poor man never gets to choose. The choices are already made. Your kids will still go to the same fake schools, taught by fake teachers and then guess what? No one will even think about them when an opportunity strikes.

Poverty steals all options in life. Wondering where to hold your wedding? Nigga you can’t even wonder, you can be certain it is going to be some fake gardens. No one even wants to turn up for a poor man’s wedding meeting.

What’s even worse, when there is an ‘opportunity’, it is always a scam disguised as an opportunity. You think there is any rich man losing money in a Development Channel. Never! It is still the poor people’s money. It is much easier to scam a poor man than a rich man. Because a poor man is on the wall, he is desperate. He is ready to do anything.

Poverty is the most expensive thing!!!🤷‍♂🤷‍♂🤷‍♂🤷‍♂🤷‍♂😭😭😭😭😭


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