Opinion: How high tech companies will lift Ugandans from poverty

By Joseph Lubandi

Posted on May 11, 2018

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History is a great thing because it is designed to help us not to repeat past mistakes. Anyone unaware of history in areas relevant to their field is grossly unfit to lead anyone let alone a people.

Development Channel Staff celebrating end of UPAP recently

The West developed through countless historical stories of the people initiating an economic movement which Western governments were smart, quick and progressive enough to catch on, provide the required support and bring prosperity to the people( Most recent is the greatest Legacy of an American President given to President Bill Clinton for flowing dot.com companies which led to massive financial prosperity for Americans through the emergence of companies such as Google, Facebook, Amazon etc and hundreds of billions of dollars to the US economy, a thing which could never have happened in the time of only brick and mortar companies).

Since Africa and indeed Uganda has copied Western systems in democracy, economies, trade, laws, regulations and the likes, it is the duty of every Ugandan government official especially those in areas of economic impact to the people to be fully informed on the actual pragmatic methods of implementation of laws.

The management of Capital Markets Authority falls short in their service to the Ugandan people. This has been most evident in their handling of the issues regarding Development Channel and economic prosperity for average Ugandans. Development Channel is leading and has been promoting to Ugandan people that Africa loses over $203 Billion dollars per annum through foreign multinational companies doing business here, brings back less than 2% through various stringent channels as aid. They advertise the aid heavily but no one talks about how much actually leaves every day.

Development Channel is leading this economic war with the creation of 25 high tech companies that will operate in each of the most critical areas of development in Africa and with presence starting next week in 50 countries and Uganda remaining the headquarters. Its projected financial returns from this war is projected to be well over $15 billion dollars per annum.

The war comprises of 25 battle areas and begins with mobile devices where billions of dollars leave every hour through Samsung, Apple, Techno, Infinix etc. going to over sea countries and financially empowering their stake and shareholders, creating thousands of jobs, building their infrastructure and growing their societies while Ugandans perish in abject poverty (Even the money of average Ugandans for transport is flying every day to already rich America through the UBER App).

Let us look at a few very important facts. The stock market is a western idea, system and practice. The aim, purpose, mission and reason for being is to give a platform for the average person to benefit from investments and not only depend on labour as the only factor of production. They simply didn’t want their people to be poor as depending on labour alone as a factor of production will definitely bring poverty to the people. Words like shares, dividend, company, regulation, and the likes were added as terminologies to be used but the aim, purpose, mission and reason should never be threatened so that the added terminologies do not end up becoming counter productive to the primary reason.

The Capital Markets Authority’s grounds for fighting to destroy Development Channel anchors 100% on terminologies and completely ignoring the purpose.

Capital Markets Authority led by has gone to CID headquarters, yesterday Thursday 10th of May 2018, seeking the closure of the operations of Development Channel without a single concern for the over 300 full time employees it has right now. Do not let petty, unprofessional, dogmatic and put your great monumental establishment on the wrong side of history in Uganda.

Paul Mukasa

(Head of Corporate Communications, Development Channel).

Disclaimer:

The views expressed in this article does not represent this website or the editor.

via: Matooke Republic