Museveni Bids Farewell to 19 UPDF Generals, Offers Financial Advice

President Yoweri Kaguta Museveni, in his capacity as Commander-in-Chief of the Uganda People’s Defence Forces (UPDF), marked a significant milestone by presiding over the retirement ceremony of 19 UPDF Generals at State House, Entebbe. The President lauded the departing officers for their substantial contributions to the UPDF, highlighting their dedication to the force’s core values of discipline, patriotism, integrity, and commitment to duty.

Addressing the retirees, President Museveni emphasized the importance of prudent financial planning. He advised them to consider secure investment options like treasury bonds, which offer steady returns with minimal active involvement. “What will be safer is simply to put the money where it will earn interest,” he noted, suggesting that a Shs600 million investment at 15 percent could yield Shs90 million annually.

Beyond bonds, the President recommended goat rearing as a viable venture, citing its ready market, rapid reproduction, and low feed costs. He also encouraged investing in fixed accounts and using the proceeds for projects such as fish farming and rental housing, likening it to “planting seeds where they germinate and use the harvest in other projects.”

The retiring Generals, including notable figures like Gen. Edward Katumba Wamala and Lt. Gen. Charles Otema Awany, were urged to remain engaged with their families and communities, using their extensive experience to benefit society. The ceremony also saw tributes from the Deputy Chief of Defence Forces, Lt. Gen. Sam Okiding, and outgoing General Katumba Wamala, who stressed the importance of protecting the UPDF’s legacy of discipline and professionalism.

Minister of Defence and Veteran Affairs, Hon. Kiryowa Kiwanuka, congratulated the officers, reminding them that they would continue to serve as ambassadors for the UPDF and encouraging them to become champions of wealth creation, utilizing the financial management skills they acquired. The event underscored the significant impact these officers have had on Uganda’s defense and security landscape.

Source: https://statehouse.go.ug/president-museveni-presides-over-retirement-ceremony-of-19-updf-generals