“We are trapped in poverty because we lack knowledge,” noted Prof. Waswa Balunywa, MUBS Principal at the 10th Makerere University Business School (MUBS) graduation ceremony where 1,862 students were awarded post graduate diplomas, Diplomas and certificates in various disciplines on May 29, 2015 .
He asked government to increase funding for research so that Universities can make findings to solve rampant social-economic problems.
Investment in research and development activities is the key to transforming Uganda’s economy. He said countries all-over the world that have adopted the initiative are flourishing. The bulk of current research is from development partners, but we appeal to government to increase funding to research and development in all public universities.”
“When public money is invested in university research, there is a tremendous return on investment. Research creates jobs directly and indirectly, through innovations that lead to new technologies, new industries and new companies” he noted.
In developed countries, the business community supports research and conferences, in this country, most times, the message is that the budget is exhausted. However, they will fund music launches, and this contributes to the poverty trap. We are trapped in poverty because we lack knowledge.
University research is also a training ground, educating the next generation. Basic research creates knowledge that leads to the types of discoveries that have a significant impact on society, improving our quality of life, preserving our environment, and enhancing our security.
We whine a lot about research funding, we hope one day this will transform into real money. Lack of research funding is prescription for lack of growth, knowledge, new ideas and economic growth.