Debt Done Differently

Not all debt is bad debt. In fact, when managed wisely, borrowing can be the bridge between where you are and where you want to be.

Just the other day, I engaged the services of a car ride-hailing company (think Uber, Safe Boda, Faras and the like); the driver was young man in his mid to late 30’s. His laid-back attitude, “beach vibes” attire, very clean car, and careful driving led me to assume he had borrowed the car for the day on a quick hustle. But as we chatted, and I got know his story, I was pleasantly surprised. Readers, never judge a book by it’s cover.

Our journey (and story time) began with me helpfully sharing directions for a short-cut to my destination, to which he replied, “Eish! I know all these panyas [short-cuts]. I used to ride a boda-boda before I got this car.” Curiosity activated, I asked why and how he’d made the jump from 2-wheels to four.

The long and short of it – boda-boda riding was hard work, long hours, and in Kampala, it’s a nerve-wracking experience. Having saved up enough money through merry-go-rounds with his fellow riders, he was finally able to upgrade his ride, client base and business model. A few years ago, he signed a loan agreement with a local car dealership, and bought a reasonably-priced vehicle.

He now pays UGX 400,000 weekly without fail, and is close to paying-off the debt and owning his car out-right. On average, he earns UGX 90,000 a day in profit, and my UGX 30,000 ride was a small but welcome contribution to his profit margin.

In this case, debt isn’t a burden but a powerful tool; funding an income-generating asset that keeps his dreams in motion through discipline and determination. This is the kind of debt that builds, rather than breaks. Debt that creates opportunity, instead of crisis. This is debt done differently.

Are you afraid of debt? Or looking for ways to break free of it? Get my book - “Are You Good with Money?” to learn how, DM me and order your copy.


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