Have you ever had someone approach you for a quick loan? Whether you are successful or not, you will receive a request to lend money from a friend or family member or relative. The problem with lending friends or relatives or a family member is that they take the loan as a grant and will most likely default on the loan. It is recommended that you always treat the loan as a business transaction. That will increase the likelihood that you will be paid. You are advised to first think hard whether you can afford to lend the money. The…
Financial Inclusion: Is Uganda on track?
Financial inclusion is the new buzzword in international development. From promoting Bonabasome, bonobagagawale programs to fighting income inequality are we heading for more political processes that are more inclusive and representative in Uganda. A story is told about the Economists in the Ministry of Finance who devised a strategy to support four children per family attain basic education, or “banabasome” in the popular local dialect. That was way back in 2001. The scheme was launched. However, during consultations, some politicians were informed of how parents with more than four children in the family with unhappy with the government policy of…