FUE members tipped on financial planning

Diamond Trust Bank (DTB) has equipped approximately 600 member organizations of the Federation of Uganda Employers (FUE) with essential financial literacy skills.

The move aims to combat the growing concern of financial indifference among Ugandans.

The initiative took center stage at the 45th annual general meeting of the FUE, marking a pivotal moment in empowering individuals amidst the frenetic pace of modern life.

Samuel Matekha, DTB's head of Marketing and Communications, emphasized the critical role of financial planning in navigating today's dynamic world.

Encouraging participants to introspect on their financial habits and envisage long-term goals, Matekha highlighted the necessity of proactive financial management.

"Too often, we defer taking control of our finances, waiting for an opportune moment. But as the adage goes, 'The best time to plant a tree was 20 years ago. The second best time is now,'" Matekah advised.

Douglas Opio, CEO of FUE, echoed Matekha's sentiments, stressing the evolving financial needs individuals encounter with age.

He underscored the imperative of adapting to these changes and meticulously planning for retirement. Opio hailed the partnership between FUE and DTB as a significant stride towards equipping members with indispensable financial literacy skills.

"As we journey through life, our priorities undergo a metamorphosis. It's imperative to adjust to these shifts and meticulously plan for retirement," Opio remarked.

The unveiling of the Federation's Online Member Services Portal further solidified its commitment to bolstering employer support. This user-friendly platform offers seamless access to critical information, tools, and resources spanning various domains, including human resources, employment relations, compliance, and occupational safety  and health (OSH).

Betty Amongi, the Minister of Gender, Labour & Social Development, emphasized the pivotal role of collaboration between tripartite partners and the private sector in fostering decent work and productive employment opportunities.

With approximately 23.5 million Ugandans in the working age bracket, Minister Amongi underscored the imperative for employers to uphold social security compliance and prioritize workplace health and safety standards.

Eng. Dr. Silver Mugisha, Chairperson of the Federation of Uganda Employers, extended gratitude to FUE members and partners for their steadfast support.

Mugisha lauded companies for their resilience in navigating labor market challenges, recognizing their pivotal contribution to driving economic growth and development in Uganda.