Rukungiri’s chief administrative officer, Waswa Musokoyi, has emphasized that financial literacy can help Uganda break free from poverty. He suggested that the government should introduce financial literacy training in all higher education institutions. According to Musokoyi, the majority of Ugandans are trapped in poverty due to their lack of knowledge on how to effectively manage their resources. He believes that teaching financial skills in schools will instill a sense of financial responsibility in students.
Musokoyi made these remarks during the celebration of International Teachers Day in Rukungiri, which had the theme “The Teacher We Need for the Education We Want.” He also mentioned that teachers play a crucial role in imparting knowledge but often struggle financially themselves. He advised teachers to lead by example and apply the same financial principles they teach to improve their own financial situations.
Musokoyi emphasized the importance of living within one’s means and avoiding unnecessary expenditures, such as extravagant school fees and extravagant pledges at weddings and funerals. He also suggested that people should avoid unnecessary expenses like owning multiple expensive mobile phones.
He argued that accumulating wealth requires individuals to engage in income-generating activities, either through producing goods or providing services, and then carefully managing the resulting income. Musokoyi also encouraged teachers to embrace the Parish Development Model (PDM), which, when implemented, could potentially lead to pay increases for civil servants, including teachers.
Dr. Elisa Rutahigwa, the Member of Parliament for Rukungiri Municipality, who presided over the event, urged teachers to support the government’s efforts to implement the Parish Development Model as it is essential for the nation’s development. He also advised teachers against taking multiple loans, as it often leads to financial difficulties and job abandonment. Instead, he recommended that teachers join their own savings and credit cooperative societies (SACCOs) to access loans at affordable interest rates.
Lovence Biriho, the UNATU Rukungiri branch chairperson, expressed concern about the challenging working conditions faced by teachers in Uganda. Many teachers, due to these conditions, consider early retirement as an option.
