Consultant turned English teacher, this is a story of how a big manufacturing company collapsed by a guy calling himself, “I’ve a ‘PhD’ from London.” It started in 2010, when I was asked to do a due diligence in Kigali on a manufacturing company, that my client was interested in acquiring some 45% equity shareholding. Article in summary: Man with a ‘PhD’ fails to manage a company; leading to its liquidation Instead of focusing on strategic issues, keeps correcting people’s English oblivious that they are non-English speakers. Kigali is a French colony. Makes decisions based on hearsay instead of facts…
Corporate governance, part 1 of 3: Four amber signs of poor governance in your organization
Following my most popular article, “Boardroom politics killing institutions in Uganda”, below are four signs of poor governance, I learnt from Sam F. Owori, CEO at the Institute of Corporate Governance of Uganda (ICGU). Sam F. Owori is a former banker and seasoned Rotarian. Aware of the need to lead by example, he ensures that all new ICGU council members get inducted at the first sitting following their appointment. The induction features presentation by Sam about the ICGU and the responsibilities of the board. At our recent induction, Sam shared his experiences of the qualities of a good board, and…
Impact of a weak Uganda shilling on our economy
Understanding the impact of a weak Uganda shilling What does a weak US $ against the Uganda shilling mean for; The growth of Uganda’s tourism industry The growth of our economy? Disclaimer: this article is too simplified ideal for a beginner. Around December 2013, the US $ exchange rate against the Uganda shilling went the wrong way for the US $. Around June 2013, (one unit of US dollar) US $1 was being bought at Ugx. 2,700. This meant that the US $ was very strong (one needed 2,700 Uganda shillings to buy just one dollar!) As time went…
Top 5 hi-tech frauds that awed me in 2013| unclassified
Below is a countdown of the cyber frauds that proved fraudsters are always a step ahead of the good guys. Unfortunately many top honchos still live in self-denial. Average leaders place blame, exceptional leaders take it. When it comes to fixing the fraud problem, exceptional leaders will have to confront the problem head on through acknowledging it and addressing it in unconventional way. Before we consider the fraud strategies that work in Uganda, let’s do a countdown of the top five frauds that happened in 2013. Fraud case highlights · Kshs 15.6 million lost in an internet banking scam…
Top five challenges your small business must fix in 2014
In 2013, I am proud to have worked with MTN Business to empower small and medium sized business in capacity building and skills development. This one of the top projects I am proud of. MTN sponsored the training of over 200 entrepreneurs in Northern and Western Uganda regions. The training covered critical topics for business success – – internal controls, working capital management, strategic planning, bank reconciliations, using MTN cloud business solutions, taxation and compliance and sustainability. During one of the the presentations, I asked participants “what are your top 5 challenges that keep you up at night?” Below is…
Merry Christmas and a prosperous 2014
It is that time of the year where everyone spends like crazy. You need to remember that 2014 is coming and the period from January to March is always a tough one especially if you are a salaried employee with undiversified revenue sources. As you spend, remember you will need to pay rent (for office or home), school fees (for your kids or dependents) and transport (to and fro work), in addition to a plethora of other costs. Many times, your expenses in Dec can easily be contained. One of the rules is not to buy new clothes in December,…
