Shutters down, offices closed, hundreds of thousands sitting at home; unemployed. Sounds familiar? Yes! Many economists are afraid we are soon to be hitting the dreaded RECESSION. Not to spread fear or panic but the trends we are currently seeing in the global economy are pointing towards that direction as a result of what some are calling the “triple crisis” made up of a worldwide health crisis i.e. COVID-19, an undeniable climate crisis and an overly “financialized” business sector that has been siphoning value out of the economy.
All this might sound scary, but don’t worry, there is good news; this is a chance for us to start building a more inclusive and sustainable economy. We, as the youth, have an especially important role to play in this with the education and skills we graduate with during these challenging times.
Even before Uganda registered any case of COVID-19 caused by the novel Coronavirus, the Governer of the Bank of Uganda, Prof. Emmanuel Tumusiime-Mutebile, who is also IUEA’s Chancellor, released a statement in the newspapers on the 23rd of March 2020 talking about the fantastic measures the central bank is taking to mitigate the economic impact of COVID-19 in Uganda as a result of reduced tourism, lack of imported raw materials and major exportation setbacks. This helped reassure Ugandans that all will be fine in terms of the economy.
Many university students currently are afraid that they will graduate into a recession and won’t get jobs but if we ensure that we graduate as well-rounded and extraordinarily talented people with relevant modern skills and contribute in policy-making for the economy that we have to work in, then we definitely won’t sleep hungry.
So what are these modern skills? There are many skills that you can learn to be ready for the 21st century but some of these are: entrepreneurship, digital art and graphics and computer programming; especially machine learning, artificial intelligence and blockchain technologies like cryptocurrencies. The good thing is, at IUEA we are given the opportunity to grab these skills no matter which course or faculty you are in. Conferences, workshops and competitions are always running throughout the semester for students. I am glad I study at the technological university of choice!
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By: Hussain Bharmal | Student at International University of East Africa
