You can become rich in Uganda today through a number of ways. Yes, when I talk of a number of ways, I am referring to the different alternatives which many people including myself have tried and found them worth when it comes to not only becoming rich and successful but also answering the question of “how to become a millionaire in Uganda”. Below are the 5 ways to become rich in Uganda.
Small money lending business
You can become a micro-lender and profit much. Private lending businesses earn more profits in form of interest which is payable by borrowers. With many people owning small scale businesses, the need to keep them running calls for more borrowing thus money lending businesses booming.
The fact is that there are very many people who are ready to borrow micro-loans with flexible payment terms and simple requirements. Unlike banks which require collateral, many of the small money lending businesses, private lending businesses and payday finance companies require n more than a guarantor, local council letter, National ID and a few extra things in order to qualify for same day loans.
This means many people borrowing and thus increase the profit of the lender. The best thing in this kind of business is the fact that you require very small capital to kick off in addition to a few requirements for example registering a simple business name and having operating capital of only 2 million shillings. I have seen many small money lending businesses around Owino market and many of them have been successful in terms of profiting. If you want to get rich quick, you can try this and see how it yields.
There are very many money making agriculture business ideas which you can put to work and become rich in a shortest time. Finding the most profitable crops to grow in Uganda is one way to profit and become rich. Being honest, all of the agricultural farming ways can make one profit higher for as long as one know what they are doing.
I am very sure you have seen programs on local TV channels and newspapers including Bukedde TV, New Vision newspaper and etc where farmers participate and showcase what they are good at. Many people who have adopted such ideas share how they ended becoming rich by involving themselves in Agriculture farming. You can too make use of Agritech startups.
Agriculture farming is wide covering both growing of crops, animals and birds raring. If you can for example start poultry business with the little capital you have, you can turn into one of the richest within a few months since poultry is one of the booming businesses you can do with high profit margins. With 1 million only, you are ready to kickoff.
Mini manufacturing company
Starting a mini manufacturing company requires very small capital and some knowledge on the produce you want to produce. If candles were still on a high demand, I would tell you to make them but no, let me share something else.
Soap and Jelly making are example products you can get started with. With very many training centers for soap making, jelly making and etc, chances are that you will be exposed to lots of information on how to make the different types and kinds of the above. In fact, learning how to make soap for example takes only one day off your time where by at the end of the day, you are ready to start manufacturing your own soap which you can sell and make money.
T be honest, even those big companies you look at and say wow, they all started small and grew with time. How about if you can start right away, I mean today.. And who know what you will be tomorrow? If you really want to make money and become rich, you can consider starting a mini manufacturing company and enjoy the benefits in terms of cash.
Transport is one of the highest rewarding businesses in Uganda you can do and become rich. We all travel on a daily basis. Some of use Boda Boda’s, others Tuku Tuku’s, others “Kamunye” aka Taxi’s and etc. Have you ever considered if you were part of the owners of any of the transport means used in Uganda?
If you didn’t know, let me share with you the secret. Take an example of owning 3 boda boda’s for example and each bringing in Ugx 10,000/= daily. 3 boda’s daily profit 30,000/=. 30,000/= x 30 days is equal to 900,000/=. This is more than the average salary a highest paid Ugandan employee earns. What if you also still earned at your work place? Do you know how much money you will have in a month only?
I am not saying that you start with 3 boda boda’s for example, rather I am trying to make your eyes open and brain thinking hard. Depending on the capital you have, you can join transport business and earn more profits – yes, you will be earning like a boss.
While working online has been overlooked by many people, fact is that those few of course including myself who have taken time to learn and understand how it works online, we have agreed that indeed it is possible to earn and even become rich.
It really makes me wonder why a person can spend the entire day gossiping on social media than using that same time and same place to earn. Let me give you an example. Sign up on Amazon as an affiliate, use your Facebook page as a website. Promote others products on your page of course targeting your audience. Gossip while you share promotional products. Do this for the entire month and see how much you would have made.
People don’t know that it is possible to work online. Those who think so want quick easy money and which is never available online. If you want to make money online, you have to learn how it works and what it takes. Once you are ready, you will see how rewarding it is to earn big even without having any startup in form of cash.
I know you have picked something out of all the above if you landed on this article searching for how to get rich in Uganda. Fact is that what I shared above are only a few on the long list of money making ideas you can try. And since you can’t do all at once, try the above and see if you can make it. Of course, always believe in the possibilities than saying NO.
Having any add on, contribution, question or comment? Feel free to leave it below using the comment form. I will be more than happy to respond to you so we interact.