Most of the Ugandans living in the diaspora dream to build, invest and continue enjoying very strong ties to Uganda. They build homes, engage in various investments and once in a while, visit and take a holiday in Uganda.
They pay fees, utility bills and so many other things even whilst living within the diaspora. Even while outside Uganda, Ugandans continue to actively participate within Uganda’s economic, cultural, social and even political spheres.
However, there have been increasing complaints from several Ugandans losing their investments, money and property through people within Uganda either misusing money, partially applying it or out rightly stealing the same. These practices have discouraged some people in the diaspora from investing in Uganda.
They have in the alternative decided to take off time to individually supervise their investments within Uganda. This has cost a lot more money and indeed time. As they have to get off work and travel to Uganda to supervise their investments or projects.
All types of business ideas are simply conceived; likewise, even DIP was simply conceived in 2014 by the current interim Chairman, Mr. Kayondo Everest.
Mr. Kayondo attended the 4th London Convention where he interacted with several Ugandans who shared with him several ideas as well as fascinating stories. Among the stories were those concerning the loss of their hard acquired savings which were eaten up by their relatives, when sent back home for development.
Most of them expressed reservations in their intention to trust any of their relatives. Incidentally, even those who had not suffered the same fate were hesitant to attempt to trust any of their relatives either!
When he attempted to ask them what they had as an alternative, most of them had either one of the two: i.e. some of them had decided to keep their money until they return home and do the development themselves under their supervision.
The other group had decided something similar but slightly different: save their money and fly to Kampala? Uganda and supervise the development during their Christmas festive season. Once they have exhausted their resources, then pack up and return to UK to work for what will be used in the subsequent Christmas season.
Either way, these types of development strategies faced inhibitions, inter alia:
- Saving being difficult to keep for the whole year.
- There was even temptations to use the money as it keeps on accumulating.
- Concentrating development in a short time sometimes also has an impact on the structures being developed.
- Some opportunities could be missed as they is no way you can tap into them when you are outside the country, e.g. seasons when prices go down.
- Besides, during Christmas seasons, prices tend to go up hence making development more costly than when it is off season.
- The time value of money would work against their developments.
- Projects were taking longer to be completed than what is ideally possible, i.e. development was always concentrated in December and January only. Hence this made ploughing back their investment very slow.