Lira, Uganda | The Vice Chancellor of Lira University, Prof. Jasper Ogwal Okeng has urged university staff and students to embrace business ventures alongside their academic and professional work as a way to secure financial stability and reduce the risk of poverty in retirement.
Prof. Ogwal Okeng made the remarks on October 2 while addressing the 22nd Public Lecture on the NSSF Hi-Innovator Foundation Course, held at the Public Health Board Room.
The session was moderated by Adong Juliet and featured presentations from Olweny Denish Sam and Ahabwe Godwin.
The Vice Chancellor cautioned against relying solely on salaries, emphasising the need for a cultural shift in how knowledge is applied.
He advised staff to translate their skills and academic expertise into business opportunities, stressing that practical application of knowledge could provide additional income and long-term security.
He also urged students to take up income-generating activities to ease the financial burden on their parents.
He explained that it was important to begin planning for retirement early in order to avoid financial struggles in old age.
According to him, engaging in small businesses while still studying would not only supplement parental support but also build resilience for the future.
Prof. Ogwal Okeng criticised Uganda’s colonial-era education model, which he said had focused too much on rote learning and theory without instilling practical skills.
He noted that the current trend was shifting towards practical application and encouraged both staff and students to embrace this approach.
During the lecture, Ahabwe Godwin of Associate Challenges Uganda outlined several viable business opportunities in the country.
He highlighted agribusiness ventures such as poultry, dairy, crop farming, and food processing, as well as service-based opportunities including cleaning, mobile money, event planning, and tutoring.
He also mentioned retail businesses such as apparel, hardware, and food products, in addition to technology-driven ventures like online retail, digital marketing, and graphic design.
He explained that leveraging local resources, addressing market demand, and investing in areas such as food processing, textiles, and digital solutions could lead to profitable enterprises.
Olweny Denish elaborated on the objectives of the NSSF Hi-Innovator Business Foundational Course, describing it as an intensive online programme designed to address critical business gaps that hinder growth.
He said the course covers modules on personal development, evaluating products and services, building effective teams, and implementing strategies for growth.
He explained that the course is flexible, allowing participants to complete it at their own pace before applying for financial support.
He added that institutions such as Lira University could apply to join the Enterprise Support Organisation (ESO) group, which provides refinancing opportunities for ongoing business initiatives.
According to him, NSSF offers equity grants to enterprising businesses after conducting thorough appraisals and due diligence through its Business Development Team.
Dr. Laury Ocen, a senior lecturer at Lira University, welcomed the initiative, describing it as an opportunity that bridges academic theory with real-life practice.
He expressed the university’s appreciation for the programme and called on NSSF to extend financial support to staff and students already engaged in business.
He further advised that those seeking support should prepare adequately for accelerator opportunities, which he said would allow entrepreneurs to upgrade their skills and position their ventures for growth.
He concluded that the lecture had given participants a clearer understanding of practical realities beyond the classroom.