LIFT stands for Local Investment for Transformation. There are five categories of nations: super powers, industrial powers, developing countries – such as India and China; poor countries such as Egypt and South Africa; then the last group is called HIPC – Highly indebted poor countries. Uganda is among the 40 countries in the world in this last category. The challenge to me is how to develop without much indebtedness. Long ago, there used to be trains that used external combustion engines. They were slow, noisy and smoky. The main cargo used to be water and coal for the engine. This looks like the economies that depend on foreign aid.
Later, the internal combustion engine was developed. Faster, less noisy and carrying larger cargo. Internal resource mobilisation will move our economies faster than depending on foreign sources which increase our indebtedness.
LIFT looks to Ugandans and Africans of course with our friends, to mobilize finance capital in the form of equity for investment. The objectives of LIFT Uganda include:
A formula for mobilising financial capital based on incomes has been worked out as follows: Uganda has 32 million people. 32% live below the poverty level, approximately 10 million people. 48% are peasants which is about 15 million people. This leaves 7 million Ugandans, around 2.5 million adults and their 4.5 million children) composing the 20 % who can invest in this program.
Diagrammatically it looks like this |
||
48% |
15 million UgSHS |
Peasants |
32% |
10 million UgSHS |
Below poverty level |
20% |
7 million UgSHS |
Able to invest in LIFT |
Platinum |
$250,000 * 2000 USD each |
Gold |
$750,000 * 1000 USD each |
Silver |
$1 million * 500 USD each |
Children |
|
Bronze |
$2.5 million * 100 USD |
Marble |
$3.5 million * 50 USD |
Total over |
2 billion USD per year |
We are aware that there are corporates who may want to invest with LIFT or business people wanting to put equity for their businesses.
We have created 3 more categories
You can see from the above that we will be able to mobilize financial capital in excess of $2 Billion – when all the targeted people and groups get to know about LIFT – Uganda project.
When I announced the LIFT Uganda project to the Ugandan audience, I thought trust would be a big issue, which it is really. I have addressed over 200 seminars all over Uganda, and all of them have been exceedingly positive. The press and media in Uganda have been supportive.
The government was quite silent at first but later on encouraged me to go ahead. Religious groups, political parties and civil society have come to identify with LIFT Uganda project. Educational institutions all over the country still call my team of mobilizers to talk to students about LIFT Uganda project and the response has been above our expectations.
I have been cautioned though, by people in the marketing industry that the big numbers attending our presentations may not translate into the number of investors. I can only say that so far so good. Here I must commend people in the Diaspora who have heard the LIFT Uganda project message and are mobilising others to get involved.
LIFT is not a one day event or a one year activity. It will grow from strength to strength year in year out.
I agree that management is a critical factor in the success of every enterprise. We have put several levels of checks and balances
For example
The project managers will be recruited worldwide based on merit, professionalism and experience. Then other levels start monitoring the projects.
Profits will be declared later and dividends pooled so that all investors get their returns on investment.
A lot of back ground work is being undertaken, to put everything in order before the launch of LIFT – Uganda project.
This includes activities such as :
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