President Yoweri Museveni yesterday evening launched the Kitabi Seminary Old Boys Association Cooperative Savings and Credit Society Limited at a dinner held at Hotel Africana.
The president donated Shs40m to the Sacco, and another Shs40m to the school sanitation project whose fundraising was also done at the event.
Ubaldo Bamunoba, a Police Commissioner and also an old boy of Kitabi Seminary, while introducing the Sacco to the president, said that it is aimed at “providing opportunities to members through provision of affordable credit for socioeconomic transformation in an effective manner.”
The alumni fete which was also graced by the Archbishop Paul Bakyenga was dominated by business discussions.
Presentations were given by Proscobia Nabanja, the Chief operations officer for Uganda National Oil Company (UNOC) and Peter Mugimba from Alliance Advocates.
Nabanja discussed various opportunities Ugandans can tap from the emerging oil and gas sector.
She urged Kitabi old boys to come and take up the various jobs and consider investing in transport, accommodation, hotels, machinery, and food among other business ventures.
Mugimba walked the guests through various investment opportunities young people can take advantages of.
Some of the ideas he mentioned included agribusiness, technology, investing in greenhouses, high yield poultry, goats whose milk is so expensive but rare on the market, fashion and design and so on.
Mujimba also urged the audience to be innovative in their ideas for instance instead of buying land, one can hire it at a cheaper price and earn a lot from it through farming.
He also observed that archaic methods of farming are still dominant.
He also called upon his colleagues to take decision making seriously, emphasizing consultation of experts for advice when necessary
Started in 1935, Kitabi Seminary located in Bushenyi has produced prominent personalities like Brig. Richard Karemire (UPDF spokesperson), Gen. Joseph Musanyufu (UPDF Joint Chief of Staff), Dr. William Muheirwe (former NWSC managing director) Hon. Muganwa Kajura.(first deputy prime minister).
Parents to prominent figures like Gen. Kale Kayihura, businessmen Patrick Bitature and Charles Mbire went to the institution.