Rethinking our strategies to promote future prosperity

By Twin Philemon, Wednesday 14th September, 2022 10:55 hrs EAT

Yesterday, I came across an article online that said MTN Uganda was to pay to it's MoMo customers interest earned on their Trust Account as mandated.

The total interest amount is UGX 5,700,000,000 which will be issued to 19,930,874 MoMo Customers who had a minimum of UGX 1 and above, daily for 91 days, from 1st April to 30th June.

On average, each customer will roughly receive ugx 285 from the fund. Last month a colleague told me he had received interest payment from Stanbic Bank Uganda Flexipay worth ugx165. This is really a nice initiative but when you look at the depth of it all, the value of interest money received by each person, it got me thinking that maybe something better could be done.

Photo Credit : A tea Bag Vision
What if we collectively used the sum in constructing like let's say a modern hospital or a school in an area without one or use it to build low cost housing units in areas around the city that are struggling and all the MOMO customers become stakeholders of those ventures.

Some ventures could even be profit earning like if the investment is made in building hotels, apartments and there atleast everyone would earn a higher interest rate than the 285 now. NSSF uses such a model to grow employee's money and has significantly showed how a reliable venture it is.

All am saying is that the amount held together does more good than have it apportioned to give each person his share.

And by the way in another next 91 days, an equivalent sum will roughly be accumulated again, that amount can be used to complete the old projects and steadfast to begin a new one. 

Imagine what we can accomplish in just a year if we undertake that route and remember this is just MTN MOMO, there are more than 5 industry players required and mandated to do the same every quarter.

Is it possible for MTN or any other player to seek consent and use that money to do something better to create a fund, hire a manager and use that money in a more beneficial way. I feel if that option is possible, it would really be a nice option to undertake

Who btw really wouldn't be proud seeing people receive treatment from a hospital or people get access to housing units all built with their 285/= .

As American Author Hellen Keller wrote "Alone we can do so little, together we can do more"