Poor saving culture hurting the economy, says Kasaija - IntelPost

Poor saving culture hurting the economy, says Kasaija


The Minister of Finance, Planning and Economic Development, Matia Kasaija has said that the various interventions by the government to improve household income have failed to pay off due to a poor saving culture among Ugandans.

Presiding over at the launch of the Kasolo Foundation vocational training centre in Kaliisizo town council, Kasaija preached mindset change among the youthful population that he said risks remaining trapped in poverty if they don’t pick on the saving culture.

Kasaija said that most youths over spend on things that do not contribute anything towards Uganda’s economy.

“Many youths only want to show off that they are rich yet a person who is rich cannot expose himself in such a manner by over spending. The only thing a rich man does is to put up something that will be remembered even if he or she dies,” Kasaija said.

Minister Kasolo (2nd from left) and Matia Kasaija (L) take a tour of the premises.

He urged the youths to take up vocational skills training which is seen as a sure route that will take the country out of poverty and unemployment.

“If 45% of the youths practice vocational skills, they will be a blessing towards the economic development of the country because I know many youths put into practice what they have got,” Kasaija said.

The State Minister for Youths and Children Affairs Florence Nakiwala Kiyingi said that her Ministry had discovered that many youths groups are started by people with selfish interests and to acquire donations from either government or foreign funders but without a direct focus on youths issues.

Nakiwala said that it is high time government formed a regulatory body to oversee the activities of such groups which have turned into an embarrassment for the country.

Kasolo Foundation vocational training centre was founded by the State Minister for Microfinance who is also the Kyotera County MP Harunah Kyeyune Kasolo.

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He told the function that the intention behind his opening of the centre is to contribute to efforts against poverty in Kyotera district.

Currently, 210 students have been enrolled at the Kaliisizo centre whereas 260 were enrolled at the centre in Kyotera Town Council.

The trainees get skills in hair dressing, motor vehicle maintenance and repair tailoring, fabrication among others.