The Katikkiro of Buganda, Charles Peter Mayiga, has issued a strong piece of advice to the youth, cautioning them against the rush to build personal residential homes as soon as they come into money.
Mayiga highlighted that constructing a home can be financially draining, especially for young people who are still in the early stages of building their financial stability.
He warned that such decisions, if made hastily, could lead to long-term financial strain and hinder future opportunities.
“Construction of residential houses takes up a lot of money, which would be better used to grow a business, especially in the early stages of one’s life,” Mayiga remarked. “These days, I caution young people against rushing into building personal residential houses.”
The Katikkiro urged young people to focus on establishing solid economic foundations through strategic investments before committing to major expenses like home construction.
He emphasized that the funds allocated for building a house could be more beneficial if directed towards expanding an existing business or launching a new venture.