Skip to main content

CONGRATULATIONS ON YOUR GRADUATION, ITS NOW TIME TO WORK….


Thousands of students will be graduating from their respective universities in coming days and months.


Makerere, our country’s oldest university will kick off its ceremonies on January 15th and the other universities will follow.

The graduates have already had a taste of the real life, having finished their studies mid last year and tried to get employed.

Many know by now that the world can be harsh and unforgiving. I hope many are tightening their belts in readiness for the struggle ahead. Some may have decided to kick the tin down the road bycontinuing with school. And others may have given up altogether.

My prayer is that there are more of the first and less of the last kind.

In talking to young people, I find that what is needed is a reorientation of their minds – a mindset change. Let me share with you certain facts to help manage their expectations of the world and how they can fulfil their potential in our context.

First of all, the world owes you nothing. It was here before you. It has seen more brilliant or hopeless people than you are, right now. It can very well do without you.

Harsh? Yes! But it’s a truth we need to internalise. You might be the hottest kid in your class, in the country. Regardless, you are entering a stage in life where practical results are everything regardless of what you did at school.

All you have learnt at school will be turned this way and that, revised or even rejected by the real world.

Think of it as a reset.

Regardless of what course you have done, the biggest skill you must make sure you leave the university with, is the ability to learn and to learn continuously.

This is important, even critical and will be the difference between whether you survive or not, or better still, whether you thrive in the years ahead of you.

The world is changing at a faster and faster pace and to keep up or stay one step ahead of these changes, your ability to learn continuously will hold you in good stead.

As a businessman who has started from the ground, I have had to learn to grow from selling sugar as a teenager to currently overseeing businesses that range from retail outlets to power generation plants to hotels to real estate developments.

They say the knowledge that has gotten you to where you are is not the same knowledge that will take you to the next level.

And I am not talking about upgrading your academic credentials only.

You need to set upon an independent program of learning about the world around you -- how it came to be the way it is and where it is going. This self-initiated quest for knowledge will come by reading
books, exploring the internet and through regular interaction with mentors.

The world demands that you become an insatiable knowledge sponge.

If this is the only thing you take away from this, my work will have been done.

As a final thought, you are young the world is literally at your feet.

You have the advantage of time. Use it well, make every day count. One important thing you will need to learn is financial literacy. This will not only help you spend your money wisely but will eventually lead to having your money work for you, which is the ultimate goal of financial literacy.

In this regard I urge you to Google -compounding, which Albert Einstein called the eighth wonder of the world. Put very basically it is building on what you have, be it knowledge or relationships ormoney. Whether you will be financially secure in your older years will depend on whether compounding works for you or against you.

One of the smartest things you can do for your future well-being is to understand and employ compounding to your benefit. The sooner you start the better.

And my very last word is that you are lucky to be alive and well, in this country, at this time. The potential of this country is largely unexploited, which means that you will be getting in at the ground floor of whatever you do. Don’t be distracted by tales of how moving to this country or the other will be better for you. The action is all here.

There is a price to pay to unlock this potential. Bucketful’s of sweat and copious amounts of faith will be needed. From my experience I can promise you that if you stick the course there will be a pot of
gold at the end of the rainbow.

Congratulations to our graduates. Celebrate your success. But not for too long, because there is work to be done.

Comments

Popular posts from this blog

SPORTS AS AN ANALOGY FOR BUSINESS

Like everybody else I know, my spirit was lifted by the success of our athletes at the World Athletics Championships last week. The diminutive Halima Nakaayi showed the heart of a lion, sprinting over the last 100m of the women’s 800m event to snatch victory from a more favoured American runner. It was so uplifting to watch. Subsequent stories about the challenges she has had to overcome to get where she is now were testament to the determination of the woman. Joshua Cheptegei’s victory, while no less inspiring, had a different quality to it. Cheptegei was the man to watch going into the event. He won previously at the Commonwealth Games last year and the in the just concluded Golden League. He was a silver medalist in the 10,000m at the last World Championships in London, pipped to the tape by the now retired Mo Farah. Cheptgei still had to battle the Kenyans and the Ethiopians all the way. But as a favourite he lived up to expectations, which sometimes is more diffic...

WELCOME TO UGANDA AFREXIM BANK

Last week Afrexim Bank opened its regional offices here in Kampala in an event that I think should have had much more play in the media. The Afrexim Bank has as its stated mission the desire to stimulate trade, primarily within the continent but also improve Africa’s trade with the rest of the world. Worthy goals and we should sit up and take notice. The bank’s coming to Uganda is not by chance. A lot of work was done and supported by President Yoweri Museveni to win it away from neighbouring Kenya. The Ugandan businessman is bound to benefit from the proximity to the bank if we get organized. "Of course the bank will be dealing with big deals, but one can hope their expertise in trade financing and the other products they bring to the table, can trickle down through the financial sector and improve our dealings.... But just to give a perspective of what our businessmen suffer because of the gaps in trade facilitation in our economy. Say I want to import...

A SHIFT AWAY FROM AGRICULTURE IS CRITICAL FOR UGANDA

Anyone who has half a stake in this country would be a keen observer of the economy and the direction it is taking. In the last three decades the economy has shown strong growth, only slowing to overcome bad weather, a global financial crisis or unrest in the region. Compared to when I started out in business, it has become a more liberal economy, with individual initiative being rewarded more and more. While the economy is still dominated by the informal sector, the formal sector is growing annually. But the biggest shift in the economy has to be the reduction in agriculture’s share of the economy from more than 80 percent to about 25 percent today. This has happened despite the leap in the production of everything from bananas to coffee or from milk to maize. What has happened is that more of the economy – though not nearly enough, has been taken up by industry, construction and services. This is how it should be and in fact, more work is needed in shifting t...

BEWARE OF THE CON MAN

I read with a mixture of horror and sympathy for the victims of the latest Ponzi scheme gone bad in town. Last week a company, Global Cryptocurrencies Ltd, collapsed and along with it went billions of shillings, by police estimates, of their clients’ money. The company working out of an obscure office on Namirembe road, managed to rope in all manner of clients with the promise of magical returns – 40% a week! I have been in business for most of my life, if I could be guaranteed 40% week I would sell everything I own and jump in with both feet. Or maybe not. And this is why. They say if anything is too good to be true, it is. If you can get an annual return of 40% on your investment you will be doing extremely well. So if you put in a million shillings in your business and walk away at the end of the year with sh400,000 after taxes you have found a good thing, and I would like to be your friend. I have seen my share of scam artists and con men. Below are my fast an...

ARE WE HELPLESS TO DO ANYTHING ABOUT THE CARNAGE ON OUR ROADS?

Recently there was a horrific crash between a passenger bus and sand laden Isuzu truck on the Masaka-Kampala highway. To look at the pictures of the aftermath it is a miracle that only two were killed and 20 injured in the accident, which it is reported was a head-on collision between the two vehicles. We don’t go a week without news of a major accident on our trunk roads. I suspect that a combination of poorly maintained vehicles, improperly trained or inexperienced drivers, driving at break neck speeds are to blame. "A few months ago, there was a suggestion that the new paved roads were not properly designed and therefore causing the accidents, but I think that is a case of poor workmen blaming their tools.... If one was to buy this argument, what about the argument that we had fewer accidents when our roads were pot holed and it would take whole days travelling journeys that now take a few hours? So, we should we go back to our potholed roads? "Accord...

COME HELP BEAT BACK HIV/AIDS

Uganda has made tremendous strides in containing the AIDS pandemic. For some of us who were around in the 1980s and saw the worst effects of the AIDS pandemic, the way the country has contained the disease is not what we had envisaged back then. Ignorance, stigma and lack of drugs surrounding the disease saw thousands die horrible deaths – wasting away, tortured by opportunistic diseases and being shirked by family and a society out fear.  The doomsayers were projecting a major fall in our population, a collapse of the economy and a total breakdown of social cohesion. That the country is still around and fighting back the disease successfully, could not have been envisaged in those scary days of the 1980s when the disease came into the public conscious. Thankfully rather than sweep the problem under the carpet like many of the neighbouring countries, President Yoweri Museveni led a fight back against AIDS that had at its core widespread dissemination of infor...

WELL DONE UGANDA REVENUE AUTHORITY BUT …

Over the weekend President Yoweri Museveni commissioned the new head office of the Uganda Revenue Authority, an imposing structure that is set to dominate the Nakawa skyline for some time to come. Congratulations are in order to URA for the construction of such an aesthetically appealing building, which I hope wills set the pace for other developments not only in the area but in Kampala and even Uganda as a whole. I know the pride that comes with having completed such a massive build for the initiators and implementors. The new 22-story structure has allowed the tax man to fold back all his offices from around the city back to the head office, a move they estimate will save them sh7b annually. Using simple math the sh140b will pay for itself in 20 years. The move is seen as precursor to a government move to build a ministerial compound in Bwebajja, where all ministries will be relocated sometime in the future. I have seen comments that such actions are evidence that...