Wednesday, September 20, 2017

Commentary | Debt in the Corporate World

"There's some money I am expecting. I’ll sort you out as soon it comes in" – Ugandan proverb.

Casually thrown around by corporates with little or no intention of honoring their obligations, this phrase could easily pass for the most abused promise in this (our) banana republic.

It could be a debt, payment for services rendered, rent or otherwise. It probably justifies the existence of people like Moses Kirunda (the "baddest" bailiff in town, in case you didn’t know).

It’s been adopted by just about everyone who settles here; Nigerians, Congolese, Kenyans, South Africans, etc.

Just about everyone.

Most times, the blame shifts to a bad employer (who never pays on time), the government, a boss who is "still out of the country", or some stubborn cheque that just refused to mature, choosing to bounce so people won’t settle their dues.

When a 50-something year old fronts this as their excuse for not paying up, you may be inclined to believe them (though there is an increasing number of crooks in this age bracket).

But when someone below 40 says the same, you may need to say a little prayer and set a reminder for hounding them until they come through.

Some may be justified – the cheque could actually be held up somewhere – but others simply choose to blame a non-existent source of funds.

Now, the latter category happens to predominantly feature the bright chaps. Creative folks who are simply good at conjuring up unique excuses every time that reminder comes their way. Innovative young corporates who are always on the verge of clinching some $1 million deal.

Do cheques simply beef them? Are they just so unfortunate that they end up with bad jobs? Or are they such bad decision makers that they always end up choosing the wrong deals?

Probably they and honesty don’t mix. They are immiscible. Like oil and water. It’s their nature. God created them that way. So we should embrace and accept them the way they are.


Government should probably all collect Ugandans who just trust "fwa"" and lock them up in Nalufenya for fanning this vice.


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