President Yoweri Kaguta Museveni, the Commander-in-Chief of the Uganda People’s Defence Forces (UPDF), has advised retiring army Generals against investing in risky business ventures.
Museveni gave the advice while retiring 19 generals at a ceremony held at State House Entebbe.
The President advised the retirees to manage their finances wisely, encouraging them to invest in secure avenues such as treasury bonds, which he said could generate returns without requiring active involvement.
“If you can put Shs600 million and you are getting 15 percent, by the end of the year that is Shs90 million profit,” he said.
Museveni cautioned the retirees against rushing into ventures that require significant capital, advising them to first consider safer investment options that can generate steady returns.
“What will be safer is simply to put the money where it will earn interest,” he said.
He also encouraged the retirees who already own land to consider goat rearing, noting that goats have a ready market, reproduce quickly and do not require expensive artificial feeds.
“You can rear goats. Can you fail to get buyers? They don’t need artificial feeds. You can have them on a small scale, something simple, safe and sustainable,” he said.
Museveni further encouraged the retiring officers to place their savings in fixed accounts and use the proceeds to finance other projects, including fish farming and rental housing.
“First plant the seeds where they germinate and use the harvest in other projects,” he said.
He congratulated the retiring officers for their contribution to the UPDF and commended them for upholding the values of the force throughout their careers, particularly discipline, patriotism, integrity and commitment to duty.
“First of all, I congratulate the Generals for the great contribution they made to the UPDF. The UPDF and NRM have been able to build security,” Museveni said.
Museveni also urged the retirees to remain committed to their families and communities and to use the experience gained during their military careers to continue supporting society.
The Deputy Chief of Defence Forces, Lt. Gen. Sam Okiding, noted that the retiring officers had made significant contributions to the transformation of the UPDF and the maintenance of peace and security through their discipline and commitment to duty.
On behalf of the retiring officers, Gen. Katumba Wamala said they were handing over a disciplined and respected institution built through sacrifice.
“We are handing to you a well-disciplined and respected institution built through sacrifice. Please protect this legacy by upholding patriotism, professionalism and integrity and, importantly, respect the civilian population. We have an umbilical cord between the UPDF and the civilian population; please guard that and, of course, remain loyal to the Constitution,” Katumba-Wamala said.
The Minister of Defence and Veteran Affairs, Kiryowa Kiwanuka, urged the retiring officers to continue serving the country even after leaving active military service, saying they would remain ambassadors of the UPDF.
“The retirement marks the end of active military service for the Generals, following years of service in the UPDF in different capacities. You are our ambassadors out there, so keep representing us,” he said.
The Minister also called upon the retirees to utilise the knowledge acquired through financial management training to become ambassadors of wealth creation. He congratulated the senior officers on reaching the milestone and wished them success in their retirement. “Go with your heads high and represent Uganda. May God bless you and bless Uganda,” he said.
The retiring officers have served in various command, operational, administrative and strategic positions, contributing to the development of the UPDF and the defence and security of Uganda.
The retiring officers include Gen. Edward Katumba Wamala, Lt. Gen. Charles Otema Awany, Lt. Gen. Charles Angina, Maj. Gen. Abel Kandiho, Maj. Gen. Geoffrey Tumusiime Katsigazi, Maj. Gen. Apollo Kasiita Gowa and Maj. Gen. Leopold Kyanda.Others are Brig. Gen. E. Muhanguzi, Brig. Gen. S. Omar, Brig. Gen. F. Zakye, Brig. Gen. FR Akiiki, Brig. Gen. MS Kisame, Brig. Gen. PB Mwesigwe, Brig. Gen. ST Kashure, Brig. Gen. SN Ocan, Brig. Gen. MK Bitimbika, Brig. Gen. C. Bakahumura, Brig. Gen. CK Asiimwe and Brig. Gen. CM Muhindo-URN. Give us feedback on this story through our email: kamwokyatimes@gmail.com
