Foreword


By Patrick Bitature, Chairman Simba Group & Chairman Uganda Investment Authority
There is an old African proverb, “For tomorrow belongs to the people who prepare for it today.”  However, our culture seems unable to plan for the future.  The common belief that one may die the next day is a pervasive thought in our society and one that stifles saving and long term planning.  We lack a value system that cherishes saving and as a result our development is at a standstill.  Without a nest egg, everyday life situations arise leaving us depleted and “in turmoil in mind and heart.”  

Moses Otto experiences in this book what can happen when one does not wisely save for the future and this book walks us through his journey of being a young dreamer to being a man weighed down by the dread of debt to a man searching to make sense of his finances.  

However, Uganda is on the cusp of a new era.  It’s a country in  transition, from a low income to middle income economy. A country that has had a 20 year un interrupted 6% + GDP growth. The business environment is so much better with predictable, consistent macroeconomic policies. A strong focus on improving infrastructure, healthcare, education and corporate governance. The agricultural potential is hardly tapped for a country gifted by nature. The recently discovered sizeable oil reserves and other minerals bring hope for the future. An African lion awakens as opportunities abound. Financial literacy is the vital key for any individual to tap into this entrepreneurial  paradise. 

The authors of this book James Abola and Phillip Karugaba clearly address universal financial problems in a culturally sensitive manner; they articulately dispel rumors that leave people in a state of monetary despair; and they provide comprehensible solutions to improve your economic situation. If you are to embrace the suggestions given in this book, I am certain you will lead a comfortable life free of financial turmoil.  

I thank the authors for reminding the readers that success does not happen overnight; but it is the small successes achieved one day at a time that build a prosperous business or a secure life.  They teach us that there are no short cuts to hard work and persistence.  They advise us to be practical, be pragmatic and be honest and finally, they urge us to always have a clear sense of purpose and direction in all aspects of life.  I applaud their frank and honest financial lessons which will provide you with a path towards a successful, debt free life.