Okoit made the remarks during the Young Ateker Entrepreneurs Symposium, where he expressed concern over the increasing unemployment levels among young people in Teso and Bukedi. He referenced the recent report released by the Uganda Bureau of Statistics, which indicated that the two regions are among those leading in unemployment rates in the country.
Speaking to the participants, Okoit warned that the situation could worsen in the next ten years if the youth fail to wake up and actively engage in business and income-generating activities.
He encouraged young entrepreneurs to develop a strong business mindset, save capital for investment, and uphold integrity while conducting business. According to him, discipline and proper financial management are key pillars for business growth.
Okoit further cautioned business owners against unnecessary spending aimed at impressing customers, saying such habits can negatively affect profits and eventually collapse businesses.
“It is very dangerous for a businessman to impress customers by buying a lot of beer and soda just to please them. In the end, you will be affecting your profits,” he said.
He also urged the youth not to fear success or wealth at a young age, encouraging them to remain focused despite criticism from society.
“Do not be embarrassed to be a young rich man. Let no one scare you,” Okoit emphasized.
Copyright ©Teso Vibez is a brand of Teso Vibez Digital (u) Ltd
.
