Kargo Search

26 September 2008

Can the Financial Services Industry Eradicate Poverty?

Robert Kiyosaki, the author of best selling wealth creation book “Rich Dad, Poor Dad” once advised that “If you want to be rich, listen to a rich person. “Cash Flow Quadrant”, “The Millionaire Mind” plus “Rich Dad’s Guide to Investing” are also valuable books that can help you get more from this life. But you might say that you have read all of them yet you are still unhappy. Don’t you think the financial services industry is the answer? Can’t they really eradicate poverty since they have finances? Well, if you give a man a fish, he will eat to his fill in one day but if you teach him how to fish, he will enjoy for the rest of his life span. It is better to teach the public how to raise fish (or capital or any other critically key resource for that matter). Today, Financial Service Providers will not only give you loans but also teach you how to eradicate poverty.

Dubbed “the Largest Financial Exhibition of the Year”, the three-day 9AM to 1 PM Standard Chartered Financial Literacy Week (Wednesday 24 to Friday 26 September 2008) at Imperiale Royale Hotel was a well attended Workshop. I’m still wondering why about three fellows were bounced on the first day simply because they were considered non members yet the workshop was open to the public. Early on Thursday – Day 2, I went to Level 4 of Karim’s new hotel while Sudhir Ruparelia, one of Uganda’s Richest was getting ready to open KISU, his grand Kabira International School Uganda somewhere in Bukoto (I wish I was there to listen to him) and only enjoyed the grandeur of the Royale interior decos plus refreshing lights. The receptionists are great but the room keepers need to be a little less uptight. Participating Corporates included - in no particular order - Standard Chartered Bank (of course), Diamond Trust Bank, Business Week Newspaper, Capital Markets Authority, Housing Finance, NSSF (They weren’t selling the Temangalo Land by the way), Tirupati Development (U) Ltd, Mama Tendo Foundation (Making early years count), Enterprise Uganda, Mortgage Association of Uganda, African Alliance (for Advisory Services, Asset Management, Corporate Finance, Private Equity, Securities Trading, Structured Finance, Unit Trusts, NTV and New Vision)

Scheduled talks on Wednesday were by Mr. Japheth Katto, CMA on “How the Capital Markets can Eradicate Poverty and increase Domestic Savings”. Mr Lawrence Mukiibi of St. Lawrence talked about the topic “Education: A Tool for Financial Empowerment”. His students are truly empowered.

Thursday had Mr. Gary A. Fitchett CA, Financial Specialist talking about where you go when the bank says “NO” while Mr. Charles Ocici, Enterprise Uganda put “How to Craft Lasting Business Partnerships” on the table and Mr. James Semakade, an Entrepreneur finished with how to “Transform your Business ideas into Market Realisation.

Friday, the third and last day had Pr. Michael Kyazze, Omega Healing Center preaching about “Business Principles to Prosperity; Prof. Peter Kasenene, a Leadership guru talking about the topic “If you can define it, you can have it” and the Presentation Guru, that is if you ask me, Mr. Peter Kimbowa (PK), IFE Consult talking about “Financial Reliance: Discover newer heights” Other renown local speakers included Mr. Patrick Bitature, Simba Telecom (Business: A Life Skill for financial freedom); Mr. Jaamwa Chandi, NSSF (Savings: A Must for all to achieve Financial Independence) and Mr. Harshad Barot, Tirupati Group (Doing Business in Uganda with Indian Business Principles). You need to attend such financial workshops with a clear vision of what you want to gain from them. Otherwise you may come out as illiterate as you walked in. Besides, you could in addition ask Sudhir how to get money for a Range Rover like his sleek grey one.

DVDs of all the three sessions are available on sale (Probably at only 60,000 UgX). For more information, please call (256)312-277888, (256)772-212384 or (256)772-625757…