President Yoweri Kaguta Museveni, the Commander-in-Chief of the Uganda People’s Defence Forces (UPDF), today presided over the retirement ceremony of 19 army Generals at State House, Entebbe.
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.
President Museveni 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,” President Museveni said.
The President advised the retirees to manage their finances wisely . “What will be safer is simply to put the money where it will earn interest,” President Museveni said.
He said treasury bonds offer retirees a secure way of generating income without having to actively manage a business, allowing their retirement savings to continue generating returns.
“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 large amounts of capital, urging them to first establish a steady income through safer investments before expanding into other businesses.
“First plant the seeds where they germinate and use the harvest in other projects,” he said.
The President suggested that returns from fixed accounts and treasury bonds could later be used to finance ventures such as fish farming and rental housing.
He also encouraged retirees who already own land to consider goat rearing, describing it as a practical business with relatively low costs and a ready market.
What will be safer is simply to put the money where it will earn interest,” he said.
“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.
