The Money Page

6 reasons people know so little about money

2011-06-21T12:51:00.000+03:00

Financial literacy was not taught in school which was the only source of learning for many people. They did not know anybody who had applied principles that made them financially better off. The examples they had were of people who stumbled from one financial crisis to another or people who pulled themselves from one financial hole to the next. They therefore concluded that becoming financially

Kampala Personal Money Training

2011-06-17T11:49:00.000+03:00

Learn how to beat inflation and more... Akamai Global is happy to invite you, your family, friends and colleagues to the July 2011 intake for the Personal Money Management Course.Benefits of attending the course Achieve your life goals and stop being frustrated by unfulfilled New Year resolutions Take control of your money Understand the real difference between the rich

Be Wise, Be Hopeful

2011-04-24T22:03:00.000+03:00

There is a lot of gloom around, courtesy of the roaring inflation that hit 11% during the period February to March 2011. The cost of living is going up as households lose purchasing power. A litre of petrol is costing Shs 500 more now than what it cost at the beginning of the year. The cost of food and other things such as transport has gone up too. A story is told that one day mother bed bug

Kampala Investment Group Seminar with Tony Wainaina

2011-02-26T18:21:00.002+03:00

Creating Wealth Using Investment Groups* Are you a member of an investment group, a SACCO or Merry Go Round (Circle)?* Is your group thriving or striving?* Do you have questions on how an investment group should operate?* Do you want to improve your individual financial security?Come listen to and interact with Tony Wainaina, an investments guru from Nairobi, Kenya with over 21 years experience

When help is (un)kindness

2010-01-28T13:24:00.000+03:00

It is an open secret that, 4 years after the 2006 election, the idea of prosperity for all Ugandans has had anything but questionable impact on the wellbeing of poor Ugandans. Now poverty is a serious problem in Uganda, no wonder the people in government thought of the idea of prosperity for all. According to a recent poverty study, one out of every three households in Uganda is absolutely poor

What to make of the NIC IPO

2010-01-28T12:50:00.001+03:00

Uganda’s largest insurance firm, National Insurance Corporation Limited, is offering close to 40 percent of its shares to the public at a cost of Shs 45 per share. The IPO which opened on December 31 is closing on February 5 but with hardly two weeks to the close there isn’t the usual interest and excitement that marked east African IPOs of 2008 and 2009.There are four factors that could account

Is it time to stop talking about the financial crisis?

2009-03-18T19:02:00.003+03:00

Everybody, well many people, are talking about the financial crisis. To some the financial crisis and the credit crunch are one and the same thing. This blogger thinks there is a clear difference between the two.In Uganda people love to give excuses for instance a person who is late for an appointment will blame it on the weather - it was raining or on the traffic - I am caught up in a jam. The

Learn how to grow your wealth and spend it wisely

2009-03-18T18:48:00.003+03:00

April 2008 Success Series Seminar

2008-03-01T15:31:00.003+03:00

$uccess $eries Breakfast Power of PERSISTENCE Success is the ability to go from one failure to another with no loss of enthusiasm. Sir Winston Churchill (1874 - 1965) · Have doors closed in your face before? · How do you create opportunities and open doors where none are readily available? Did you achieve all you had set out to do in 2007? How can you make 2008 an even better year? Are you able to balance your family and career? Success is not an accident and there is no such thing as ‘falling into things!’ Come be inspired and learn to set personal

First 2 Rules of Working on Your Business

2007-11-11T12:57:00.000+03:00

There is a sense in which being self employed or owning your own business can be more challenging than being employed. A self employed person who looks at the business as a place to work in will in most cases find that the business is like a wheelbarrow which only moves whenever she pushes it. At the beginning the business provides great goods or services to clients but as sales and clients grow

Time for Money or Money with Time

2007-10-25T07:45:00.000+03:00

They were seated at the back of the commuter bus, commenting on anything they sighted. Then one of them saw a taxi on Kampala road and told his colleague, “Say how about if we went to Dubai and bought ourselves a taxi to operate?” Without missing a beat the colleague responded “With my high level of education I cannot stoop so low as becoming a taxi operator, I will get a well paying job.” His

Uganda: gifted but not competitive

2007-07-14T08:05:00.000+03:00

By James AbolaThe person or people who came up with the slogan "Uganda, gifted by nature" could not have come up with a better phrase. How else could you describe a country that has oil deposits, is home to a variety of animals and plants - some so rare that they can only be viewed from Uganda? Then there natural gifts like Uganda being the source of the River Nile, the wonderful climate that

Why Ends Don't Meet

2007-06-23T12:23:00.000+03:00

In Uganda there is a term which is very common with the employed, "trying to make ends meet." During the first 2 or 3 months of employment, the employee is usually able to live on their salary until the next pay day. As the months go on the employee's cost of living increases and the money there are earning is no longer sufficient to cover the cost of living until the next pay day. This creates a

June 2 2007 Uganda Cranes 2 Nigeria Super Eagles 1

2007-06-02T20:18:00.000+03:00

Uganda Cranes came back from a goal down at the end of the first half to beat Nigeria's Super Eagles by 2 goals to 1 in Nambole Stadium Kampala. Both goals for Uganda came from penalities won by Geoffrey Massa.

Your Health and your Money

2007-05-31T16:38:00.000+03:00

One book has asked this question, ‘what will it profit a man to gain the whole world and yet loose his own soul?’ I might ask, ‘what will it benefit you to gain so much wealth and not have the health to enjoy it?’ Am deeply moved by the rate at which people’s health is failing these days age not withstanding. Reading I came across this comment, ‘As many as half of cancer deaths could be

Book Review: The Story of an African Entrepreneur

2007-05-31T16:27:00.001+03:00

By Gordon Wavamunno (Wavah Books, 331 pages) (Aristoc Ug. Shs. 15,000/=) I have always believed that business in Africa faced special challenges that the best schools in the West could teach us nothing about. How does business in Africa cope with a poor skill base, high costs of production, corruption, and downright anarchy? How do you pick yourself up after your merchandise has been

You need a vision to plan well for retirement.

2007-05-31T16:24:00.000+03:00

Many years ago, when I was being introduced to computers there was a common phrase that said “what you see is what you get”. Being computer talk, it would not be incomplete without an abbreviation which is stated as “WYSIWYG”. What you see is what you get is a fairly accurate description of vision. Whether you are moderately or extremely successful, the key to that success can usually be traced

What is your money mind?

2007-05-31T16:17:00.000+03:00

Sticky and Slick are long time colleagues but with opposing money habits. Sticky has an amazing ability to refrain from spending money unless it is absolutely necessary. For instance although Sticky owns a car he only uses it during emergencies like when it rains and it is not possible for him to get to office in time or when his son falls sick in the night and he has to rush him to a medical

Investing as a group

2007-05-13T07:01:00.000+03:00

Since the advent of independence, many African countries have explored various ways to encourage and promote savings and investments by especially low earners. These efforts have ranged from cooperative societies, microfinance initiatives and the more recent merry go rounds and investment groups.The cooperative society whether it is for producing, marketing, saving or credit is intended to create

2007-04-23T13:26:00.000+03:00

BOOK REVIEW By Phillip Karugaba The Richest Man in Babylon: by George S. Clason (Signet, 144 pages) (Aristoc Ug. Shs. 18,800/=) As Uganda, struggles to break the shackles of a peasant economy and take its place among capitalist nations, we as individuals necessarily get swept up into the world of personal finance. Gone as the days when food came from the ‘lusuku’ at the back of the house!

Why i need a Business plan

2007-04-17T16:14:00.000+03:00

Someone once said, ‘If you don’t know where you are going, how will you know when you get lost?’ It has been said many times over that many businesses especially in Africa today rarely survive to their 5th birthday. The reasons for this failure include; having the wrong reason for starting the business, poor management; insufficient capital, and lack of planning. I have noticed the great

Raising Money-Smart Kids.

2007-04-17T16:04:00.000+03:00

Many parents received conflicting advice or no advice at all on how to teach their children to handle money. One old time approach is to ensure that children never get into contact with money in order to avoid “getting spoilt.” A woman who is now a parent narrated how she got some money and bought an exercise book when she was still in lower primary. When she dashed home to show the purchase to

KAMPALA PERSONAL FINANCIAL MANAGEMENT COURSE

2007-03-21T08:00:00.000+03:00

AKAMAI UGANDA changing livesREGISTRATION IN PROGRESS “Leaders are learners…lifelong learning is the minimum requirement for success in any field. Make a decision today that you are going to become a student of your craft and that you are going to continue learning and becoming better for the rest of your life.” Brian Tracy. COURSE OBJECTIVE Improve the financial literacy of

Stanbic Closes At Shs 205

2007-01-25T14:13:00.000+03:00

The shares of Stanbic Bank Uganda begun trading on the Uganda Securities Exchange today, 25/1/2007. From the IPO price of Shs 70 per share, the highest price on the market was Shs 205, which just fell shy of 3 times the issue price.The challenge many brokers had was the wide spread between buying and selling prices. Most buyers wanted the stock at about Shs 150 while sellers wanted Shs 250.If the

Stanbic Bank Uganda IPO Allotment Results Out

2007-01-17T10:25:00.000+03:00

The Stanbic Bank shares begin trading on the Uganda Securities Exchange on January 25, 2007. The Stanbic IPO that closed on December 22, 2006 was 200% oversubscribed, according to MBEA the lead brokers.The allotment for various categories where as follows:Individual Ugandan investors offered all shares applied for upto UGX 150 million. Other investors including foreign individuals and

Kampala Seminar; February 3, 2007

2007-01-13T22:21:00.000+03:00

Beyond Dreams & AspirationsAKAMAI UGANDA presents a practical seminar that will help you identify and achieve your dreams and aspirations for the year 2007. Date: February 3, 2007Time: 9 am – 12:00 noonVenue: Grand Imperial Hotel, KampalaFee: U Shs 20, 000 Discount for group payment for 10+Booking: akamai.uganda@gmail.com or Tel. 256751516118/

Kampala City of Floods, Potholes and Jams

2006-12-26T09:43:00.000+03:00

Three things defined Kampala in 2006: traffic jams, potholes and floods. Heavy traffic and sustained rainfall in the last quarter of 2006 as well inaction from authorities have turned the roads in Kampala into a massive stretch of potholes. Just before Christmas 2006, the Minister of Works announced that the central government is taking over the maintenance of a number of roads in the city. The

The Money Page: Stanbic Bank Uganda IPO November 24th to December 22nd 2006

2006-12-01T09:40:00.000+03:00

The Money Page: Stanbic Bank Uganda IPO November 24th to December 22nd 2006: "http://www.stanbicbankipo.com/downloads.html"

Stanbic Bank Uganda IPO November 24th to December 22nd 2006

2006-11-24T09:15:00.000+03:00

Stanbic Bank (U) Ltd opened the initial public offer (IPO) to sell 20% of its shares to the public on Friday 24th November 2006. The IPO will be close on December 22nd 2006 and shares are expected to begin trading on the Uganda Securities Exchange about January 25th 2007.The IPO share price has been set at Shs 70 and the Bank hopes to raise Shs 70b from the IPO.Stanbic Bank has been the most

Book now for Seminar on Buying & Selling Shares

2006-11-13T13:55:00.000+03:00

Akamai Uganda in Association with Renaissance Capital presents a practical investment seminar on the topic ‘Understanding Selling & Buying Shares’During the seminar we will answer questions like: How does one gain by buying or selling shares? Why is it that when I buy shares now I will not have the same experience like those who bought Green Land shares in the 1990s? How can investor take

Exciting Investment Opportunities on the Uganda Securities Exchange

2006-10-15T11:17:00.000+03:00

The Uganda Securities Exchange is a relatively small and young market compared to say the Nairobi Stock Exchange. Inspite its small size and young age, the USE has distinguished itself by being among the top 3 performing exchanges in the whole of Africa for last three years. The good regulation and management of the USE, the fact that Uganda has no capital restrictions and the excellent

Where are you thinking from?

2006-09-23T23:59:00.000+03:00

Our daughter, who is three years and something, recently learned the expression “I can’t” much to the annoyance of her mum. So if she wants something she will come to her mum and say “mummy, I can’t see it” or when she is supposed to take off her dress she will go like “mummy I can’t remove it.” I have been reflecting on the “I can’t” mentality and realized that it is common even among people

Personal Financial Management Tools & Help

2006-08-20T15:41:00.000+03:00

In order to fulfill your ambitions and desires, you have to be successful with money. But life can be very frustrating when:you cannot tell where the money you earn is going; your salary is all spent before you even complete the second week of the new month; you are paying for advances and loans that have not made any tangible contribution to your life. I now have products that can help you get

Understand the time value of money

2006-07-11T11:42:00.000+03:00

By James AbolaMost cartoons are supposed to be interesting but I recently saw a really interesting one in a local newspaper. In the cartoon a sweating man was facing two other men who were smiling in a sly way from across the table. One of the smiling guys told the sweating fellow: “We know what you ate from various places. Remember we do not take bribes but you can join our party.” The lesson

The First Real Estate Investment Seminar in Uganda

2006-06-27T17:17:00.000+03:00

Stop gropping in the dark, get a light for your real estate efforts.It is a great thing to own or invest in real estate but how do you:• overcome the fear of buying property with problem titles• tell a good deal whether it is virgin land or already developed• raise sufficient money to buy or develop property• effectively service mortgages without resorting to selling of your propertyThis and many

Financial Chaos or Order: the choice is yours

2006-06-01T22:17:00.000+03:00

By James AbolaEver wondered why most high school boys have rooms appearing like a scene in a disaster zone? At the door would probably be a pair of sneakers that were kicked off, as the owner of the room entered; a tennis racquet on a chair or table; and a collection of odd objects stuffed under the bed. The state of disorder that is exhibited in the high school boy’s room is an example of a

Is money a glue or wedge to your relationship?

2006-04-12T16:59:00.000+03:00

By James AbolaIt is said that love is blind but some wealthy people go into marriage with one eye open, to watch their money. A prenuptial agreement is usually signed before the knot is tied so that if, or when, the marriage comes to an end the person with more money escapes with enough to start all over again. In Uganda the excitement of elections has briefly pushed the domestic relations bill (

The ABCs of Mutual Funds

2006-03-22T18:02:00.000+03:00

By James AbolaWe often hear about offshore investment and mutual funds but what do they actually mean. The term offshore indicates something foreign or outside a domestic territory. Offshore investing or alternative investing is conducting financial business outside of the investor’s home country or home currency. Most offshore investments offer high returns, low or no taxes and a high level of

Investing on the Uganda Securities Exchange could be a good idea

2006-03-22T17:58:00.000+03:00

By James AbolaStudies have found that Ugandans are one of the most entrepreneurial people in the world going by the number of new businesses springing up every year. It is not possible however for everybody to be involved in business as means of growing or sustaining their wealth. Some people must find a passive means of investing. The passive investor provides money and does not have to report

You don't have to live your last days on a park bench: plan for your retirement

2006-02-20T09:15:00.000+03:00

By James AbolaRetirement is that time when you should be enjoying more leisure time than stress time, if you continue working it could be as a part time consultant. You may even choose to volunteer for a worthwhile cause. This ideal picture of retirement is only possible if you have actually planned for retirement ahead of time. The prospect of a comfortable retirement is like the proverbial

You can help a child in Northern Uganda go to School

2006-02-01T17:36:00.000+03:00

By Michael MawaUnconditional Love – the way to go!It is with utmost reluctance and somewhat heaviness that I am, finally, at the bidding of my good friend James, writing this piece about our impressions on the practical consequences of the northern war. There are two reasons for my reluctance:First of all, while the debate rages on what has and has not been done, that debate is largely doing very

Dust, Darkness and Dancing in Gulu

2006-02-01T12:32:00.000+03:00

By James AbolaOur daughter is a few months past three years and has been inquisitive for most the past 2 years. Recently she has got round to asking where my daddy and mummy are. I reckon she always sees her Jjaja (her maternal grand mother) and wonders where the paternal grannies are. I have attempted to explain to her that daddy’s parents are no longer here but with little success.When I got a

Why Employees and Employers Must Invest in Personal Financial Planning Skills

2006-01-30T13:47:00.000+03:00

The employment terrain in the last 20 or so years have been marked by changes like divestiture or privatisation (government pulling out of the business of managing businesses); retrenchment or downsizing and early retirement. Employers have also moved to consolidate pay so that instead of multiple allowances the employee gets a consolidated pay. Some stronger organisations still continue to

The Money Page: Welcome to James Abola's Money Blog

2006-01-19T19:28:00.000+03:00

The Money Page: Welcome to James Abola's Money Blog

Northern Uganda -Nasty Legacy

2006-01-19T17:57:00.000+03:00

By James AbolaDear FriendIn 1996 my employers transferred me from Gulu to Kampala. When I got to Kampala I joined a group of young people who met regularly to pray. Being fresh from Gulu I regularly brought the conflict in northern Uganda as a prayer item but it always met with lukewarm interest. I have thought long and hard about this matter and the only conclusion I can come to is that many

Handle Interest Rates with Knowledge

2006-01-19T13:25:00.000+03:00

By James AbolaIt seems there is a conspiracy among many professions to lock other people out of their fields through the use of jargons and abbreviations. I once attended a meeting in the education sector where everybody was talking in abbreviations which made no sense to me as an outsider. Since I had been brought in as a consultant, I had to swallow my pride and request them to use proper words

Turning that idea into a business

2006-01-18T16:07:00.000+03:00

By James AbolaTwo men were asked to explain how the world came into being. One answered, the universe is a result of a major event termed the “big bang”, which made random matter to become organised as we see in nature and living things. No, interjected the second fellow, the big bang theory doesn’t add up, because if it were true then tell me where did the matter needed for the bang come from?

CHILD MONEY DOES NOT GROW IN THOSE ATMS

2006-01-18T16:06:00.000+03:00

By James AbolaI am left with about ten years to become a parent with a teenage child. Given the speed at which the past three years have flown, I know ten years is not a very long period to learn the art (if it exists) of successful parenting. I have been learning from parents with older children what values they are passing on to their children so that they grow up to become responsible and

Are you spending on needs or desires?

2006-01-18T16:04:00.000+03:00

By James AbolaDoes having and implementing a personal financial plan mean going through life with a long face, while donning the proverbial tight belt? The thought of living within one’s means is not entirely palatable. At times it means choosing not engage in debt driven consumption in order to save for the future.One time after talking to a gentleman about developing a personal financial he

Welcome to James Abola's Money Blog

2006-01-18T15:47:00.000+03:00

HiWelcome to this blog. I am James Abola a financial consultant based in Kampala Uganda. This blog contains some of the thoughts and articles that I share to help people to grow their money and businesses. You can also read my articles in the Sunday Monitor on the Money Matters page - www.monitor.co.ug. If you need my services send me a line on jhabola@yahoo.comHave a great reading