Prominent businessman and politician Captain Mike Mukula has called for the integration of the East African Common Market and urged local businesses to strategically expand within the region.

Speaking during a fellowship on Economic Empowerment in Uganda and Africa, as the Rotary Club of Kampala Kibuli marked 100 days under president Julie Kariisa, Mukula commended NBS Television for its successful entry into the East African media market.

“NBS is competing with Citizen TV in Kenya and is viewed across Africa. That’s what business is about being hands-on and eyes-on,” he said, encouraging local businesses to target specific markets and align their growth with regional opportunities.

Mukula also stressed the importance of unity among Africans, urging an end to the culture of “pulling each other down” and instead promoting mutual support.

“We need to support each other as black people. In the United States, businesspeople are more admired than politicians. Let’s eliminate jealousy and help one another grow,” he said.

He encouraged Ugandans to leverage the country’s peace and stability to foster economic growth, citing numerous opportunities available.

Mukula emphasised that a peaceful environment is fundamental to business success and advised young entrepreneurs to embrace calculated risks.

“Money is scared of insecurity. In a peaceful country like Uganda, with stability from north to south, east to west, there are plenty of opportunities,” Mukula said.

He underscored that security is the most crucial infrastructure for business growth. He added that economic development flourishes where peace prevails.

Mukula, a former politician, identified capital as the biggest challenge for entrepreneurs in Uganda and across sub-Saharan Africa.

However, he urged aspiring business owners to focus on effective resource management and sustainable growth.

“A businessperson must take calculated risks. Without risk, there is no business,” he warned, noting that entrepreneurship demands discipline and the ability to manage profit and loss wisely.

Addressing the dominance of the Indian community in Uganda’s economy, Mukula attributed their success to effective financial management.

“They control 64.7% of the economy because they balance their books and understand profit and loss,” he observed, advising Ugandans to adopt similar practices to avoid business failure.

Mukula also emphasized the value of networking, describing it as a vital component for business success.

“Your network is your net worth. Business won’t succeed without discipline, and you must always keep your eye on the ball,” he advised.

Butambala Woman MP and Rotarian Aisha Nalule Kabanda called for urgent measures to tackle youth unemployment in Uganda through entrepreneurship.

She stressed the critical need for young people to adopt entrepreneurial mindsets in response to limited job opportunities.

“Uganda has a very young population, and many of our youth face employment challenges,” Kabanda said. “The job market is inelastic, and people are searching for jobs that are hard to find. One way to help the youth is by skilling them to think outside the box, start their own businesses, and take advantage of available opportunities.”

Kabanda noted that Mukula’s transition from politics to entrepreneurship serves as an example of resilience and determination for young people.

“He showed that success isn’t confined to politics; you can contribute to national development in your own way,” she added.

Kabanda encouraged the youth to start small, reminding them that many try to emulate their parents’ success without recognizing the years of hard work behind it.

She advised them to move beyond depending solely on formal employment, which offers limited growth potential.

“When you are employed, you’re only paid enough to keep you at the job, not enough to become wealthy,” Kabanda pointed out. “If you want to succeed, explore the opportunities around you, start small, and dream big.”