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COVID 19: Business opportunities for Uganda

May 9, 2020
By D E Wasake, FCCA
May 2020


I cannot tell you if I am a modern prophet, but the fact of the matter is that in 2014 I told a high profile Ugandan investment convention in London in 2014 that “every business is a digital business”. The Vice President, Edward Ssekandi was there as guest of honour but I don’t know if he heard me. There were many MPs (like Aida Nantaba), dignitaries and so were prominent business representatives. I believe BMK (of Hotel Africana) and Wafula Oguttu (formerly of Monitor) were in the audience.  That video is here:

In it, I mentioned a few things then that are STILL very critical and relevant in our “new normal” with COVID-19:

·    Every business is a digital business - meaning you no longer are just a greengrocer or a pharmacist, you must also embrace technology as part of your business.

You need to have an internet marketing strategy
to reach the increasingly internet based Ugandan population.  This often starts with a Google search, where 60% of Ugandan businesses don’t even have a website. They need a website that converts.

·     More people are accessing the internet from their mobile phones than on PCs/Laptops. Your business and website needs a solid “mobile” strategy.

You need
a pay per click and content strategy.  This includes how you will advertise on Google, LinkedIn,Facebook as well as how you make yourself an expert (content strategy).  Advertising via online is much cheaper than traditional advertising – whose distribution model is changing. Are customers going to see billboards for example?

The first step therefore for any business in the post COVID-19 world is going to be to dust off their internet strategy and make it at the centre of their business strategy.

Read the full article here. 

2017 Uganda business trends

February 4, 2017
By D E. Wasake, FCCA

Every year we write an analysis on the trends that will shape business in Uganda.  2017 is no different.

Summary of 2017 trends

These are expected to be:

  1. Power shift in global economy - a desire for fairness and sustainability
  2. A reduction in Uganda government expenditure – Worrying information from World Bank and Moody’s rating.
  3. Improvement in access to credit for business. Exciting trends from Mobile Money, FinTech and the FY 16/17 Budget.
  4. Improvement in ease of doi...

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3 gold mines you must use for your Uganda business to grow

June 25, 2016

By D E Wasake, FCCA

If you are in business or considering doing business in Uganda, there are 3 areas you can no longer afford to ignore (or which you must pay more attention to if you have not done so already);

  •  Facebook
  • Google analytics and;
  • Stocks/bonds on the Uganda Securities Exchange

Click here to read the full article.

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Risk management in Uganda is increasingly critical

August 20, 2015
By Isaac Sewaaya, General Manager at Inachee

Article summary
Despite many reports indicating Uganda is one of the most entrepreneurial counties, the Uganda business environment is increasingly challenging judging by the World Bank’s ranking of ease of doing business - which indicates that Uganda is getting worse (based on the last 5 years). 

In addition other indices of an economy's performance such as foreign exchange movements, disease and crime all indicate that the Uganda economy is going...

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What will matter for Uganda business in 2015: Top 5 issues

December 19, 2014
In this article, Inachee principal D E Wasake, FCCA gives his view on what he considers to be the key priority issues Top business leaders for doing business in Uganda in 2015.

Dickson discusses technology innovation disruptors (like Air bnb), the rise of mobile internet in Uganda as well as the effect of the young population to the work place.

Read the article here.

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On Mortality and business: Ideas to help business continuity

November 14, 2014

There is a hotel in Japan — Hoshi Ryokan — that has been run by the same family for approximately 1,300 years. Forty six generations have managed to maintain control of the business. Until 2010, the Guinness book of records considered it the oldest hotel in the world. In 2011 the title passed to another hotel in Japan, that had been founded in 705 AD compared to Hoshi’s 718 AD.

In Uganda, as most businesses are family businesses, a large number fail, including on death of the patriarc...

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Diversify your investments...But Where?

October 21, 2014
By Julius Masaba Business associate, Inachee

In this article, Inachee business associate Julius Masaba thinks of Investment for the future to be "akin to an egg laying many eggs".

He goes on to discuss some of the investment options in Uganda available including Savings/deposit accounts, NSSF savings and Treasury Bills/Bonds.

Click here to read the article

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On Financial Literacy

October 21, 2014

By Ronald Emojong, Business Associate, Inachee

In the bible in Hosea 4:6, God says "My people are destroyed from lack of knowledge". In business, this verse seems to apply as well - we need to obtain financial literacy.

Ronald Emojong, a business associate at Inachee drives the point home with his guide to financial literacy for doing business and ac...

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Abracadabra! Business magic

October 21, 2014

By Grace Khaukha, Business Associate, Inachee

"Have you ever had or seen a great business idea that looked nice on paper but when you set it up it did not turn out as easy as it sounded? Abracadabra!!?" 

Grace Khaukha, a business associate at Inachee and also a business owner shares her views in this article about the steps to business success (or is it magic).

With a high failure rate of business in Uganda, estimated at over 50%, perhaps understanding business magic is the solution.

Click her...

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A Millenial speaks: Get your internet right or we will .....

October 21, 2014

By: Miriam Nansubuga, Consulting associate, Inachee

"Millennials do not like to talk on the phone to strangers. We like to click, touch and swipe for information. What we need is easy access to said information to help us make a buy decision quickly so that we do not delay the gratification any longer.

So declares Miriam Nansubuga, a Chartered accountant with Bank of Uganda, and who also provides some consultancy support to Inachee. She shares her views on how a Small and Medium Size Ent...
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"Inachee" and "Inachee for business" are brand names that belong to Inachee Limited a company incorporated in England and Wales. No: 08117725. In Uganda, they are used, with permission.

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Book on Business Success in Uganda
Principal, Dickson E Wasake has written a book on 10 practical principles and lessons for achieving business success in Uganda. Preview the book here.