troche http://danielborda.net/wp-content/plugins/jetpack/json-endpoints/class.wpcom-json-api-site-settings-v1-2-endpoint.php geneva; font-size: small;”>He noted that apart from lack of entrepreneurship skills, medicine http://chuckatuckhistory.com/wp-admin/includes/update.php lack of capital as a factor of production has been the major hindrance to growth, capsule wealth accumulation and prosperity of the African continent.
The President was on Friday speaking at the Young Entrepreneurs’ award ceremony that was organized by Inspire Africa, an organization devoted to identifying and promoting business entrepreneurship, skill development and innovations among young people. The ceremony was held at Hotel Africana in Kampala City.
Mr. Museveni noted that the African continent has had serious deficiency of entrepreneurship and capital as a factor of production and wondered why Africans continue consuming a lot and saving less while their continent is short of capital.
“Africans have a problem with saving; thus they can’t accumulate capital. You consume too much because you are very undisciplined,” the president observed.
“You young people, what are you doing in bars? It’s a real waste of time and it’s not good for your health and for your economic prosperity,” he added.
The President also strongly cautioned against holding expensive and luxurious functions saying “why have expensive wedding or graduation party?”
He, therefore, asked Ugandans and Africans, especially the youth who are the future of the continent, to learn a lesson from the United States of America whose founding fathers, the Puritans, who also fathered capitalism, laid emphasis on discipline, diligence, honesty and all the other best practices that turned America into a greatest nation in the world.
“If you learn and implement these best practices, you will progress and go forward”, he stressed.
He appealed to the youth and young entrepreneurs to always demand from the State/Government creation of the best atmosphere for their businesses to thrive and survive.
He noted that it is the duty of the State to control inflation, develop infrastructure and put in place a peaceful environment for doing business.
“You as young people and young entrepreneurs must look for and support positive political allies. You need to support the development of infrastructure and be against anyone who is against the development of infrastructure in the country”, he said.
The President also advised the country and the youth in particular to task government to facilitate the skilling of the nation to ensure the emergence of a skilled labour force.
“You should demand that government spend a lot on technical colleges and skilling of citizen. So you need to know your political allies,” emphasized.
Regarding the demand for a minimum wage, the President said that the NRM approach was to attract more investments into the country so that labour is on demand which would in turn stabilize both employment and remuneration.
On taxation, the President said the government was cautious on its taxation policy; the more reason it does not tax any domestic produce, imported industrial machinery, scholastic materials or medicine.
The Prime Minister, Mr. Amama Mbabazi, told the young entrepreneurs that success in any venture entailed one’s ability to know and appreciate what is to be achieved.
He stressed that discipline and hard work was an ingredient element in attaining success.
He, therefore, called on the young entrepreneurs to value those tenets in their various production activities.
Gender, Labour and Social Development Minister, Mrs. Mary Karooro Okurut, commended President Museveni for sparing time from his busy schedule, to grace the Young Entrepreneurs’ award ceremony.
She said that the President’s presence was a manifestation of his strong attachment to the cause of the youth in the country.
She commended the Mr. Nelson Tugume who is the Chief Executive Officer of Inspire Africa, for his perennial hard work and passion for the promotion of the talents of young people in Uganda.
On his part, Mr. Tugume reported that his organization was founding was strongly inspired by an international report that rated Uganda as the country that registers many businesses but the majority of them collapsing before their first anniversary.
He said Inspire Africa, targets the grass-root entrepreneurs who have no access to financial credit but have enterprises that are owned and managed by the youth.
He informed young entrepreneurs that what determined one’s destiny were not the problems one encountered in life but rather how one responded to those challenges.
During the occasion, 12 finalists who came from different districts and business disciplines in the country received Shs.5,000,000 each from Bank of Africa in collaboration with other partners, as additional capital to boost their businesses.