By Abraham Malinga
ICPAU
At the 30th Annual Seminar of the Institute of Certified Public Accountants of Uganda (ICPAU), entrepreneurship took centre stage as professionals were urged to explore business opportunities as a path to resilience, financial independence, and sustainable impact.
Clare Nakabonge Byekwaso, Director of Bonami Shopping Centre, shared her entrepreneurial journey under the topic Venturing and Succeeding in Business.
Drawing from her experience in the retail business, she outlined the realities of running a Small and Medium-Sized Enterprise (SME). Byekwaso emphasised passion as the foundation of business success, noting that it is passion that sustains an entrepreneur through difficult times. She advised professionals to choose ventures that align with their interests and values, while paying attention to practical aspects such as funding sources, pricing strategies, product range, technology adoption, and effective human resource management.
She highlighted challenges such as shrinkage through theft, expiries and damages, as well as stiff competition from both global and local players.
Byekwaso recommended vigilance, proper stock management, and embracing cost-effective technologies like Point of Sale (POS) systems and digital payments to remain competitive.
She also underscored the importance of compliance with tax obligations, sourcing professional support, and maintaining oversight across all business functions.
“As an entrepreneur, you are the chief of everything,” she said, adding that resilience, consistency, and hard work are non-negotiable for success.
Adding to the discussion, CPA Jackie Keirungi Ayorekire, Deputy Bursar at Makerere University, shared her personal business journey, inspiring delegates with lessons on courage and adaptability.
She described entrepreneurship as a path of resilience rather than an easy ride, urging professionals to venture into business not only to diversify income but also to build independence and create lasting impact.
Keirungi pointed out that the life of a businessperson is filled with challenges, but persistence, discipline, and adaptability turn hurdles into opportunities for growth.
“Every obstacle presents a chance to innovate and grow,” she said, challenging professionals to leverage their skills and networks to build enterprises that can stand the test of time.
The session served as a powerful reminder that entrepreneurship for professionals is more than an alternative income stream. It is about resilience, independence, and contributing to sustainable development.
Also sharing his journey, Rogers Balamaga brought a refreshing perspective on reinvention. After 20 years of studying law and 7 years in practice, he realised he did not belong in the profession.
In his own words, “I am a monkey, I belong in a tree,” he joked.
The realisation pushed him to leave law behind and pursue what truly fueled him: writing, food, and entrepreneurship.
What followed was not a straight line but a series of pivots: from writing columns and food reviews to leveraging social media for credibility and later transitioning into creating food products.
Today, Balamaga has grown the Keto Clinic and Rogers Barbecue & Bites into thriving businesses supported by loyal communities.
Balamaga’s story demonstrated that passion alone is not enough—it must be paired with skills, learning, and execution. He reminded delegates that social media is not just noise but also social capital if leveraged consistently.
Above all, he showed how communities can transform into tribes that invest, run, and grow together.
From earning one million shillings a month as a lawyer to building successful food enterprises, his reinvention teaches that careers do not have to be linear.
Sometimes, leaving behind what is “secure” opens the door to true impact and purpose.
His challenge to professionals: Find the intersection of your passion, people’s needs, and your skills.
The ICPAU Annual Seminar is a three-day event that blends technical learning with soft skills development, team building, and recreation, creating a platform for both professional advancement and personal enrichment. The seminar was being held from 3 – 5 September 2025 at the Imperial Resort Beach Hotel, Entebbe and online.
