{UAH} Allan/Edmund/Pojim/WBK: How Crane bank got into trouble

 

 

 

This is only the first wave.

 

Kampala is generating over 80% of Uganda GDP. Much of that money comes of land, property transactions, appended corruption and shadowy dealings in which Ugandans have become specialists.

 

Mainstream economy can't function in an archaic economic structure. Uganda has to build mainstream economic structures. Not everything goes!

 

We have the so called estate industry people just placing buildings anyhow anywhere. When dwellers in these estates discover the terrible glitch they are creating; slums, traffic congestion and an inevitable crime when their children become 15 years there will emerge another deadly collapse. Many therefore will never be able to pay back money loaned to build houses that will equally lose almost 2/3 of their value.

 

Kololo value has been going up but not Nakawa, Naguru , Kamwoya etc.

 

The automobile business is also shadowy dealings mostly into second hand imported items. This sector has nothing to hang on in terms of manufacturing, technology, production or innovation. It is filled with people in need to survive for a day.  

 

These two and importation of second hand items of all sorts drive the economy. Without it many people are left penniless and jobless. In a word there is no mainstream economy.

 

It is these very sectors that are pulling down the entire financial sector into limbo.

 

The government can do something: Stop talking about a few dams and roads.

 

Start major nation wide urban infrastructure developments (macroeconomics stimuli) that have an impact on skilling, human technical development, genuine financial implications and technological translation to spur real economic development.

  

Bwanika.

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Bwanika Nakyesawa Luwero

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