Teach young people how to build their own wealth – Kabatsi

Young people must be guided to make their own wealth to be in a better position to build Uganda, former Transport State Minister Joy Kafura Kabatsi has said.

Speaking at the launch of the CHOMI Community Center in Lwemiyaga, Sembabule District on Monday, Kabatsi said it was important that leaders guide young people by teaching them financial literacy to build their own wealth and be more financially secure and resilient, which will put them in a better position to build Uganda.

"The vision is for CHOMI to teach all the things we wish we learned — about investing, about credit, the importance of SACCOS, parish development model, how insurance works, and the best route to market for agricultural products,” she said.

The community center, which seeks to offer a place for Sembabule residents to take part in financial literacy training, was founded by Kabatsi, who has previously worked in State House, ministries of Agriculture and Works and Transport, where she was known for her passion to strengthen the delivery of services to Ugandans.

This center is expected to benefit Sembabule through investment in infrastructure, including the latest food storage technology and equipment, and the sharing of international best practices.

Speaking at the same function, Maj Gen Sam Kavuma, the Deputy Director of Operation Wealth Creation and Chairman of Wazalendo SACCO, said investing in Ugandans with the right resources to achieve self-sufficiency was extremely important to achieve a sustainable recovery, noting that whereas COVID has impacted every Ugandan it was important that people attain sufficient skills to support them recover and build resilient businesses.

“Investing in our people and communities by equipping them with a conducive environment and resources to be self-sufficient is how we build a recovery for all of us,” he said.

COVID has been one of the single most challenge to business and livelihood in the last two years, disabling a number of businesses in the process.

However, the government has been at the forefront of supporting recovery through offering different recovery programs under the Uganda Development Bank and Microfinance Support Centre.

Over Sh1 trillion has been disbursed to value addition businesses in manufacturing, agribusiness, small and medium enterprises, and special consideration has also gone to businesses in tourism, hotel, and accommodation, among others.

Ivan Asiimwe, the Chief Executive Officer of Cooperative Alliance, said establishments such CHOMI must be supported to drive grassroots growth to feed into the larger economy.

"We will support CHOMI to be an engine of economic growth in Uganda. This community hall is evidence of Kabatsi’s servant-leadership to the residents of Lwemiyaga and our country, Uganda,” he said.

CHOMI will also house several community nonprofits, and professionals offering youth mentorship and vocational training.