If you have not been disappointed, you probably have not yet tried. One of the local entrepreneurs explained how his business hit a snag because executives just don’t have time to listen. After failing to meet government executives, he visited the Private Sector Foundation and Uganda Investment Authority. These too turned cold feet. Never mind these are top organizations whose mandate is to contribute and foster investment and economic growth of the country. “I was told by the receptionist that the CEO could not see me. Not even his assistant had time to meet me. At the Private Sector Foundation,…
The leadership dilemma? Frustrations of doing business in Uganda, part 2
The biggest challenge to business in Uganda is the tendency of senior managers to want to do the day-to-day work. We call it the leadership dilemma. This is not about paying attention to the details that matter. It is micromanaging and it sacks. In the process, this obscures the big picture — of furthering top leadership mandate to think long-term by focusing on technology investments and the customer. Great leaders micro-monitor instead of micro-managing. You do not ask someone to do something and then show them how to do it and be breathing instructions on their throat all the time…
Who cares? The frustrations of doing business in Uganda, part 1
Uganda has many enterprising people, but few successful businesses. Why? If anything explains the high poverty levels in many parts of the country, it is not an unwillingness to work hard—most Ugandans still sweat to survive. Nor is it because of a lack of enterprise and optimism: on the permanently traffic-jammed streets of Kampala, the country’s main commercial city, hawkers gingerly ease their way between cars trying to sell almost anything from snacks to books, car parts, carpets, shoes, and even toilet paper. They do the right things – wake up early. Work 365 days a year. Do your best.…
The #covid19 recovery and response strategy insights
Running a business during these coronavirus times is like driving a car at night in heavy rains on a road without road marks. The journey becomes so uncertain and frustrating. Other drivers may choose to park and wait. Others take calculated risks. While others turn on the driver-assist computer in the car for night vision and they continue driving steadily. This is what is happening. The times are uncertain and ambiguous. There is just too much information on the Internet about the pandemic that the only best thing is to focus on living and surviving that worrying about what is…
A holiday within a holiday, #covid19 rising in Uganda, as IMF approves loan…
Kampala – 7th May 2020. Around this time of the year, schools break-off for holidays. Uganda, like the rest of the world, normally requires all primary, secondary, technical/schools, and polytechnics to observe the school holidays (Table 1). During holidays, students break off from school to be with family and friends and learn from their parents. The Ministry of Education and Sports of Uganda had planned the first term holidays to start on 2nd May 2020. So, we are now having holidays within the holidays since students were sent home earlier. Table 1 indicates the school holidays that had been planned.…
UBA Uganda changes strategy becomes profitable…
Transparency is the best business. And no one can talk about good governance without transparency. To this end, banks in Uganda are required to publish their audited financial statements within four months after the end of the financial year i.e. by 30th April of the following year. Detailed publication of the key information about the performance of the business over the past 12 months and the statement of the financial position as at the year-end helps stakeholders make informed decisions. During quarter one of 2020, many banks published their audited financial statements in compliance with the regulatory provisions. Some banks…
