Mbarara. Mbarara Archbishop Paul Bakyenga, has said the habit of Ugandans not living within their means is a major factor contributing to poverty in the country.
While officiating at the opening of the 63rd Centenary Bank branch in Mbarara Town at the weekend, Archbishop Bakyenga said extravagance is killing the saving culture in people.
“Imagine someone who earns a salary of Shs400,000 throwing a party of Shs8 million. Where do you think he gets this money from? He borrows just to impress the public. What do you think this person will save at the end of the month?” Archbishop Bakyenga asked.
The archbishop said unless Ugandans develop a saving culture and learn to live within their means, fighting poverty will remain a challenge.
Archbishop Bakyenga, who is also a board member of Centenary Bank, expressed the bank management’s commitment to support communities to value saving.
He cautioned the bank staff not to despise the institution’s humble beginning, and the dream to improve the livelihood of low-income earners.
“We began small, our dream was to help the rural poor live better lives. Don’t forget where we came from. Be willing to listen, transparent and friendly to our people,” he said.
Mr Micheal Jingo, the chief manager business growth, said they decided to open up the new branch, the second in Mbarara Town, following high demand and pressure from the public for services one branch could not provide.
SOURCE: Daily Monitor