Building Financially Resilient Businesses

Building Financially Resilient Businesses: Lessons from the JTB Wealth Management Session

The session was brilliantly facilitated by Edna Winifred Nebira and Aisha Najjingo Muwanga, who led us through insightful conversations on responsible financial planning, both personally and within an organization.

One of the most resonant takeaways came from a simple yet profound quote:

“The head you use to manage your personal finances is the same one you use for your business finances.”

This statement set the tone for the session, reminding us that discipline, clarity, and intentionality are not just business practices—they start at a personal level.

Wealth management isn’t just about accumulating assets. It’s about stewardship. We explored its critical role in:
a) Personal financial stability – ensuring you can weather life’s storms.
b) Organizational reputation – strong financial management builds public trust.
c) Fiduciary responsibility – especially important for board members and executives overseeing other people’s money.

We were honoured to learn from Mr. Grace Munyirwa, Managing Director of Vine Pharmaceuticals, who shared insights on growing and building wealth.

Highlights from Mr. Munyirwa’s session:

• Corporate governance isn’t just for the boardroom – it should cascade through the entire organization.
• Legacy matters – build businesses that can outlive the founders.
• Startups may not afford a formal Board of Directors, but a Board of Advisors is within reach and incredibly valuable. Grace recommends:
  a) Having 3–5 intelligent, business-savvy individuals.
  b) Meeting monthly.
  c) Discussing ideas at a deep level and working to implement them practically.
• You don’t need to have all the information, but you do need to know the vital metrics.

Best Practices for Governance and Financial Management:
a) Business money is not your money – financial discipline is the foundation of sustainable growth.
b) Create scalable infrastructure so that good service doesn’t suffer as you grow.
c) Always be in “startup mode” – stay lean, stay curious, and stay agile.
d) Communication is key – internally and externally.
e) Autonomy is key – empower your teams, but keep strong oversight.
f) Engage your key people with your advisors or board – show your seriousness and build alignment.

When considering who should sit on your board, look for:
a) Deep knowledge
b) Industry expertise
c) Diverse experience

And lastly, a powerful reminder for anyone starting a side business: don’t start it with a loan. Let it grow organically. Understand the art of growth and scaling, and be patient enough to build something that lasts.

#CorporateGovernance
#JTB2025