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Tertiary institutes should venture in innovative technology and skilling of human capital in existing investment opportunities for a sustainable future
Kampala, Uganda | THE INDEPENDENT | Uganda Investment Authority is urging private education institutes to embrace science, technology and innovations for an upgraded investment in the education sector.
This comes barely a month after Proprietors of Private Educational Institutions Association in Uganda- PPEIAU asked the government to recognize them as investors so as to benefit from the available incentives.
According to Winnie Lawoko Olwe, Director SMEs Science, Technology innovation at Uganda Investment Authority, the owners of tertiary institutes need also to venture in innovative technology and skilling the human capital in the existing investment opportunities for a sustainable future.
Lawoko Olwe says this kind of investment will allow the savings to grow and automatically allow the investor to operate beyond their expenses.
She advises them to adapt to good business practices through certifying their institutions within the industry and form business clusters to benefit from the authority’s best facilitations.
She says much as the Covid-19 pandemic has hit education hard, the authority can connect them to relevant organizations like financing bodies or private equity or joint venture capital but as investors.
Peter Muramira, Director Kent Foundation Training Institute, wants the government to understand and recognise tertiary institutions as SMEs that are skilling Ugandans who act as the engine of investment in the country.
He says that the tertiary institutions help in preparing the human capital required for any investment to be a success.
However, Robert Natukwasa, chairperson Director of Private Tertiary Institutes Forum Mbarara chapter welcomed the idea but asked the investments authority to begin with training the directors of these tertiary institutes and the would-be possible local investors.
He says they keep urging Ugandans to invest but most of them lack knowledge on how, where to invest.
Kabuye Daniel, Principal Kent Foundation Training Institute says that they have invested their savings in infrastructure and that alone makes them investors.
He says by starting the institutions, they are helping the government with skilling Ugandans, noting that it should help provide with machines and training more human resource to assist in vocation.
Uganda Investment Authority (UIA) is the government agency mandated with promoting and facilitating investments in Uganda making it the first point of contact for any potential investor to access various business registration, licensing, and other facilitations.
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