Business and Finance
Maj Gen Biraaro, industrialising Uganda using national resources
Founder and CEO of Lift Uganda Project – Transcript from his speech at the 1st Ugandan UK Convention
Benon explained how his project was conceived 10 years earlier, looking for ways to not only eradicate poverty, but also to ensure that the manner to do it would come from Uganda. 30% of the population lives below poverty level; 40% are peasants and another 20% (7 millions Ugandans) of the population are able to do something. An arrangement was devised to make these 7 million Ugandans contribute every year $2 billion internally, so that the process of industrialization can be started, using national resources. 5 groups were formed out of the 20%: Platinum for those able to invest $2,000 every year, this one being the highest investment. The Gold group is for those able to invest $1,000; Silver Group for an investment of $500, and Bronze group for $100. The registration of the project was challenging, he said, but did get finalized recently and to this day, half a million Ugandan have signed to the project.
He went on to explain how he would mobilize $2 billion. The 250 thousand Ugandans who can be in the platinum category would mobilize £500 million. 750,000 Ugandans can part with $1000, generating another $750 million. A further one million people can pay $500, thereby mobilizing $500 million. And once the project is rolled out, the other lower investment groups would bring in a further $350 million.
What can the Diaspora do with regard to Lift? Lift is looking for strategic partners to invest in tourism, agro-culture, construction, power generation and also centres of excellence, to encourage the too relaxed workforce of Uganda to become more work conscientious, urging people to change their mindset in that regard.
He assured people that Lift was nearly ready to move into the actual implementation phase, and finished his presentation by calling on the best managers from around the world to help manage those £2 billion and implement the programs!