#mindspark It’s tough to drive a car whose wheels are not aligned. You have to keep your hands on the steering wheel even on a straight road patch! See our Exchange when I invited a bank executive to attend our special Uganda banking report 2020 launch today at 10:00 am sharp. Me: It’s today at 10 am, make the time, and attend our report launch. Bank executive: Oh, I may miss. I have a meeting from 9:00 am to 4:00 pm. You will share the PPT slides. Me: Leadership is about choice. If the internal meetings, you do it regularly.…
Be careful with your local SACCO group
I joined a local community SACCO, with much excitement. But the monthly penalty charges of Ugx. 10,000 for not saving is becoming a problem. Saving culture is a good one. But saving is not enough. You must save and invest. Instead, SACCOs re-lend to other members at a favorable interest rate lower than commercial banks. It makes sense. At the start, many SACCOs by-laws and or constitution is poorly developed and there is lots of excitement. However, after a few months, things start changing. Folks who would save consistently, start skipping. And before you know it, the SACCO is running…
Policy, not laziness failing Ugandans
The biggest problem in Uganda is the tendency to recognize foreigners at the expense of locals who are educated. Makerere University (MAK) is a globally recognized institution ranked 9th in Africa. That is no mean achievement. Local Ugandans operate it and train so many people in the region every year. Some time back the Minister of State for Works was quoted during a conference as saying that “Ugandan contractors cannot undertake big road construction projects because they are incompetent.” Before making such a comment, one needs to understand that Ugandans are very competent and hardworking. The problem is they are…
Count down: One day to the summitBI® Banking Sector Report Launch on 14th August 2020
The summitBI® Banking Report contains a rare depth and analysis style as it is meant for a tactical and strategic user. It examines the domestic macro-financial environment with a focus on the performance and financial stability of each bank and the sector, against the CAMELS framework. Guided by the appreciation of the report’s readers and to further deliver the most comprehensive analysis of the banking sector, we have deployed Summit’s indices to bring out the true status of the Banking Sector. Below is the key findings from our analysis in this year’s summitBI® Banking Report 2020: study figure 1 carefully:…
The Top 3 COVID-19 takeaways for tomorrow’s Dynamic Bank?
DOWNLOAD PDF: Tomorrow’s Dynamic Bank -Top 3 Covid-19 Takeaways to Win A dynamic bank is one that adapts to the ever-changing environment by making banking enjoyable as part of the customer’s day-to-day life. There are three takeaways from COVID-19 for banking: Invest in digital and put it at the core of your transformation strategy Integrate the bank into customer lifestyles to make banking a sub-conscious activity and very convenient Operate the bank as a start-up to achieve cost-cutting efficiencies to win. To win, banks must know the difference between a software banking app on one side and a banking platform that…
A new politician? “Hit the line hard…”
Politics is officially the best profession in Uganda, as it gives an instant return on investment when you go through, especially at MP level. We see many people leaving formal employment for political positions. As you throw in the towel and enter into this new career, remember the wise words by Theodore Roosevelt: “In life, as in a football game, the principle to follow is – hit the line hard.” Politics is a very competitive game. It is about hitting the line hard. There are no short-cuts. Every contestant wants to win. The one who touches more hearts wins than…
