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The passive income earners....



Until one qualifies from an active income earner to passive income earner when people and social capital is more important, then crossing to middle income is still a long distance. The Investment clubs Association of Uganda is promoting passive income earning through professional savings groups where more than five people come together to pool resources for short term and long term financing. The groups operate on good leadership, vision, a good team, the product to run, sustainable cash flows legal and structural systems to promote efficient operations.
Mobilizing capital finance for short and long term investment is still a big challenge in Uganda since Uganda’s culture of saving is still so faint. Very few Uganda companies can ably list on the Uganda stock exchange for the obvious reasons that corporate governance, transparency and accountability are key ingredients in accessing financing from the stock markets but so rear among indignant companies.
Therefore, coming up with investment clubs would close the gaps indentified in Uganda’s financing sector. Capital Markets Authority together with other stakeholders formed the investment clubs association of Uganda to help build a strategy to mobilize medium and long term financing   as well as wealth creation.
 Through the Investment Clubs Association Uganda, a two year investment strategy that stretches from this year to 2015 will guide build capacities for sustainable access to capital finance.
 Ann Muhangi the communication and investor education Manager at capital markets authority says, in the two year strategy, developing capacities   through skills acquisition and training will take centre stage.
According to the ministry of finance, at least one of every four Ugandans is a member of the investment club but with no serious positive impact realized at the ground. Therefore the minister of finance and economic development Mariah Kiwanuka says government through her ministry   is coming up with a number of supportive initiatives to sustain such clubs.
 The proposed Legal reforms in the financial institutions Act give hope to a wide spectrum of access to long term and medium-term financing. The Islamic baking where the lender does not charge interest but acquire stake in the business is one of such proposed reforms. The proposed reforms also legalize mobile money transactions which guarantee safety like any other banking system as well as growth of cooperatives, village savings and agency banking. These if passed will widen opportunities to access capital finance.
 The minster emphasized government efforts to reduce the cost of doing business for investors  which in the long run improves returns on investment hence improvement from active income earners to passive earners.
The Uganda Capital Markets Authority also wants government to apportion support in form of good policy framework and regulatory regime to help build a sustainable investment foundation.

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