The
youth in Uganda today represent approximately 60% of the country’s total
population which is about 33million people. It is further estimated
approximated that about 50% of the 33 million people are youth of 15 years and
below. The statistics appear funny but underneath is a hidden hope for Uganda
at 2050 only if our planners and policy makers comprehend it as earlier as
possible.
The
structure of our population is a more lucrative resource that can overturn this
country into a developed nation that we admire around the world more than the
discovered oil in the Albertan region. Look at Japan today; it is one of the
most industrialized nations in the world but facing a major problem of old age
with life expectancy of about 78 years. The logic is that a round 1930’s, their
population was as young as ours today. However, at that time Japan invested in
its population, equipped it with quality education, trained it in skills of
technology and entrepreneurship, a reason as to why today it boasts of its rich
economy. The same can be said of Singapore, Taiwan and China.
The use of
natural resources absolutely counts less. In Uganda, we seem to have it the
other way round. We have attached to much emphasis on exploitation of natural resources
to exhaustion of some like copper in Kasese, and now it is oil. As long as we
do not change our mindset and approach to development, I really doubt that Uganda’s
economy will be different from now 50years to come.
As
the law of development states, “there are a series of stages in cognitive
development that respond to physiological maturation.” As the bible says, fear
the Lord as the rest shall follow. Uganda ought to equip its population with
quality education and the rest shall follow.
Remember
Nelson Mandela once said, “The strongest weapon you can use to change this
world is education.” Every Ugandan has numerous intangible assets that are not
yet utilized. In a scholarly book called Stratagy Maps, by Robert G. Kapaln and
David P. Norton, published by Harvard business school press, puts it clear
that, “intangible assets- those no measured by a company’s financial system
account for more than 75% of a company’s value, The average company’s tangible
assets- the net book value of assets less liabilities- represent less than 25%
of market value.” What is true for companies is even truer for countries.
Some
counties such as Venezuela and Saudi Arabia have high physical resource
endowments but have made poor investments in their population and systems. As a
consequence, they produce far less output per person; experience much slower
growth rates, than countries such as Singapore and Taiwan that have few natural
resources but invest heavily in effective internal systems, human and
information capital. At both the macro and micro economic levels, intangible
assets drive long term value creation.
In
conclusion, Uganda ought to get its priorities and approach to development
correct lest we risk wasting more decades, It’s not all about ringing alarm
bells for investors to come to Uganda, not even political allocations of 500 billion
shillings to the youth they are claiming for entrepreneurship, and neither is
it just about providing UPE and USE to help Ugandans read and write. It’s about
“tapping” the youth now, equip it with technology, skills, create opportunities
for scholarships and continued education. Inevitably, the education budget must
corner more than 15% of the national budget.
