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Refinery residents blow compensation on booze, motorcycles [Uganda]

Author: Flavia Nalubega & Beatrice Ongode, in Oil in Uganda, Published on: 31 January 2014

A good number of the compensated refinery area residents are spending their money on luxuries, ignoring lessons from a crash course in financial management and investment that the government took them through last year to prepare them for the windfall...Oil in Uganda visited Kyapaloni...found a different mood from what was there in the last half of last year. The area is now lively and most of the small bars are full...According to Stella Kahangwe...bars are now good business. Some shrewd bar operators have even shifted from Hoima town to the area. Sex workers have also followed suite, temporarily pitching camp here to cater for these new millionaires...Some...residents...admitted having attended a training in financial management that was conducted by Strategic Friends International (SFI) on behalf of the government...but confess not picking any useful lessons...But with these locals wasting the money away on luxuries, it is unlikely they will have acquired new homes by then and some of them may not be willing to leave peacefully.

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Related companies: Strategic Friends International