Ivan James

[Mujuni Raymond @qataharraymond]

On tomorrow's episode, we #GrabACoffee with the Governor of the Central Bank, from his Kitchen.

We speak about cost of capital, the role of the central bank in SME's, the price of mortgages, the future of banking, bringing down interest rates, Liverpool vs Arsenal and more.....

[Bank of Uganda @BOU_Official]

BoU clarifies: "Our systems are uncompromised and secure. The BoU systems were never hacked. Two incidents of fraud were initiated outside the BoU IT systems. Instructions were received by BoU to pay the wrong beneficiaries, leading to the diversion of funds.

We have since recovered $8.205m of these funds though and we are pursuing the balance. The ongoing investigation will support recovery efforts," The Deputy Governor, Michael Atingi-Ego, clarified at a press briefing this afternoon.

[NBS Television @nbstv]

Driving in town is never a breeze. Ensure you give your car the love it deserves! Trust @FixnRev Mechanics for professional car panel beating and spraying works.

Contact: 0778 210082/ 0709 749224 Or visit: https://t.co/pCtY8HwM4i to schedule your service

#FixNRev #NBSUpdates

[Ivan James @Ivan31724700]

@KPAestates Any indication of the monthly rental income?

[Guy Lutaaya @gkluta]

Brilliant indeed 👏. The Absa 🇺🇬 shirt he's wearing is unmistakable! @AbsaUganda

[Alex Ponton @ponton_alex]

The rich are underserved in East Africa. Yes, I said it!

There are around 15,000-dollar millionaires in East Africa. Those include the very rich (i.e. Sudhir) and I suspect this number excludes all the folks who have perfected the art of hiding their money. Our Kikuubo entrepreneurs are good at this. I'd argue that we are looking at a much larger number. Add to this the aspirational rich segment between $50k and $1M and you are looking at a sizable market. Yes with $50k of wealth in Kampala or income, you can ball.

Based on Forbes, if you add up the private wealth of High-Net-Worth Individuals (the millionaires) in Kenya, Uganda, and Tanzania, you are looking at a pool of wealth of around USD 80 Billion. This number is growing fast.

Let’s be real here. Being rich in Dubai, Cape Town or New York is great. You have multiple options to spend or invest your money. We are talking of multiple high-end restaurants, mind-blowing clubs, access to international capital markets to make your money work for you and the list goes on.

Being rich in Kampala has its perks (i.e. you can pretty much outsource all of the menial tasks of your life, the nightlife has its charms and the green of some neighborhoods makes you feel like you are in Hawaii).

That being said, you have limited places to spend or invest your money as a “rich person". After you have gone through Mezo Noir on Friday, Molecule on Saturday, and spent the day at Serena on Sunday, you have pretty much capped 50% of the high-roller options. You can change your car every year but I am sure it gets old fast. Hence, you end up building rentals and traveling to Dubai…

This is not a jab at Kampala, Nairobi or Kigali. My goal is to highlight the opportunity at play here. The rich are underserved. How do we capitalize on that?

"If you solve rich people's problems, you get to charge rich people prices." - Alex Hormozi

I am sure opportunities go beyond opening high-end restaurants or bars. That’s the easy path.

Perhaps looking at the following problems could inspire you:

- Getting genuine luxury items at a fair price is hard
- Quality playgrounds and activities for kids are missing
- Service providers (plumbers, carpenters, cleaners, tailors) are a pain even for the rich
- Investing your money outside of Real Estate is limited
- Asset protection and tax optimization are at their infancy. Many rich people just dodge rather than optimize within the legal construct.

The need to go for affordability, the bottom of the pyramid, and the mass market are all valid tactics and areas of focus for some products and segments but there is more to this.

We put a lot of burden on African entrepreneurs by almost exclusively tagging funding to companies that solve deep societal problems. It's great but it does skew the parameters of success compared to other regions...

In the West, we ask our entrepreneurs to serve underserved markets well and build great companies. Full stop.

It doesn't matter if that means solutions for rich people. Have no shame and help the rich...

That's it for today.

Source: https://t.co/RrIkagKYBs

That’s it for today.

[Hillary bamulinde @Hbamulinde]

Sometimes it's not the gods working against you, not Karma or payback from your ancestors but simply your mouth doing self-sabotage.

Like Calvin Coolidge said "Silence cannot be misquoted"

[Hillary bamulinde @Hbamulinde]

Red flags to watch out for when buying a house
1. Inspection is limited because current occupants want privacy
2. Bank pressure sale
3. A lot of secrecy
4. Immediate demands for deposit bcoz many people want to buy it
5. Cash only
6. Name-dropping rich people who also want to buy

[Hillary bamulinde @Hbamulinde]

The typical life cycle of working in a corporate organization is usually like this.
Ignored/not seen while at the bottom, loathed while at the top, quickly forgotten on departure.
The balance: Remember your roots, prioritise you & keep the friends you had before the success

[Ivan James @Ivan31724700]

@PaulKaheru 2024

[Mordecai Muriisa ™️ @MordecaiMuriisa]

Let’s Do It Again.
Happy Posthumous Birthday Legendary Mowzey Radio!
Subscribe to my YouTube channel here - https://t.co/meLBXGZtGH

[Amos Wekesa @wekesa_amos]

Today in ishasha, Queen Elizabeth national park

[Ivan James @Ivan31724700]

@nbstv the Afro mobile app is not working, yet I have paid

[Daily Nation @NationAfrica]

I am a retired teacher with a Sh3 million pension pay. How do I invest it and avoid going broke? https://t.co/dMliwUIikK

[Alliance for Financial Inclusion (AFI) @NewsAFI]

We are pleased to announce a four-year partnership with the @AfDB_Group that aims at supporting financial policymakers & regulators to increase #AccessToFinance for (#WSMEs) in #Africa.
👉Find out more: https://t.co/LGEgGL3qnS

#FinancialInclusion #GenderInclusiveFinance #afiGPF

[Soraya M. Hakuziyaremye @SorayaMHlive]

@CentralBankRw receives the 2023 Nestor Espenilla Jr. Financial Inclusion Innovation Award!
The innovation award recognizes @NewsAFI members demonstrating outstanding commitment towards innovation & use of technology to advance financial inclusion.  
#TeamRwanda #GPFManila2023

[Soraya M. Hakuziyaremye @SorayaMHlive]

Kudos to our extraordinary BNR teams working hard to digitize our supervisory tools, design online financial consumer protection and financial inclusion dashboards.
Thanks go to our AFI colleagues on the knowledge shared and @BangkoSentral for the excellent 2023 AFI GPF.

[Alliance for Financial Inclusion (AFI) @NewsAFI]

AFI Executive Director Dr. Alfred Hannig meets Governor Emmanuel Tutuba, Bank of #Tanzania, on the margin of the 2023 AFI Global Policy Forum held in #Manila, Philippines.

@BankOfTanzania #afiGPF #FinancialInclusion #LeaveNoOneBehind

[Alliance for Financial Inclusion (AFI) @NewsAFI]

#Uganda is the largest refugee-hosting country in #Africa. Bank of Uganda has created an enabling policy & regulatory environment that enhances refugee digital #FinancialInclusion.

#afiGPF #FDPs #Refugees #LeaveNoOneBehind

[Alliance for Financial Inclusion (AFI) @NewsAFI]

AFI Executive Director meets with Deputy Governor, Susan Koech, Central Bank of #Kenya on the margin of the 2023 AFI Global Policy Forum.

#afiGPF #FinancialInclusion #LeaveNoOneBehind