SPIRITUAL CAPITAL: Some lessons on national transformation from Singapore.

Over the past few weeks in Uganda, in all the major forms of media, one of the hottest topics has been in regard to what was seen as Members of Parliament dishing themselves money as part of the COVID 19 supplementary budget. The Speaker of Parliament then retorted that not only parliament should be under scrutiny but the Government too for the even larger supplementary budget that was passed in their favor.

The truth about the substance of the two above incidents is not the subject of this article, but the frequency of these and other scandals is cause for concern for me and many Ugandans. Such scandals and rumors of scandals have of late got me thinking and questioning what all the money we as a nation have squandered through corruption that would have otherwise played a big role in pulling millions of Ugandans out of poverty.

In trying to figure what the root this corruption challenge is and what the lasting solutions are, one word came to mind, ‘Spiritual Capital’! I first came across this concept while I was studying Entrepreneurship at Sinapis Entrepreneur Academy https://sinapis.org/entrepreneur-academy/

However, before I go into what Spiritual capital is all about, here is where we stand as a country. The 2019 Transparency International corruption perception index ranks Uganda at 137th out of 179 countries with a score of 28. This report ranks how corrupt a country is perceived to be in the global market place. Contrast this with Singapore which, on the same index, ranks 4th with a score of 85(which means that it is perceived to be nearly corruption free). This means that Singapore is generally safe for investment of your money because you don’t risk being fleeced by corrupt government officials, fair justice is accessible if you are wronged, etc.

Foreign Direct investment (FDI) and GDP.

The wealth of a nation is usually determined by its Gross Domestic Product. Uganda, with a population of over $40m has a GDP of 31bn (2019) while Singapore with a population of 5.6m has a GDP of $363bn. One of the major reasons Singapore’s economy is 100 times bigger than Uganda’s economy and yet it is 6 times smaller than Uganda in terms of population, is because it attracts more FDI than Uganda. In 2019, FDI inflows into Singapore were worth $73bn while Uganda attracted $1.3bn!

Studies have also shown that a nation’s GDP is highly correlated with how much Foreign Direct Investment it attracts because development requires capital, capital is necessary to fund production in a country from which it can then generate wealth.

Spiritual capital.

So, you may be asking yourself what all this has to do with Spiritual Capital. Ken Eldred, author of ‘God is at Work’ describes Spiritual Capital as the faith, trust and commitment that others will do what is right, not only what is right in their own eyes or what benefits them the most, but what is right in the eyes of God.

In this book, he goes on to explain that cultures in which biblical values are ingrained grow spiritual capital and establish the environment for successful commerce. This is because honesty, service, excellence, respect, commitment, value, trust, loyalty and quality are necessary for successful business. Please note that the above attributes are all biblical values.

 It is therefore surprising and disheartening to see that while Uganda has more Bible believing Christians (82%), Singapore (18.8%) as a nation and culture exhibit’s attributes of the Bible more than us.

Using the above example, I find it fair to conclude that if as a nation, we are not TRANSFORMED value-wise as a people, no amount of CHANGE in systems, officials and laws will bring the desired economic transformation.

What can we do to change the course of our nation?

You need three things: Yourself, the Holy Spirit and the gospel.

You have to be willing to be a depositor into the spiritual capital account of your country and be an example for others to follow.

You have to be a conduit through which the Holy Spirit can transform the hearts of men and women around you. Only the Holy Spirit has this power!

You have to be willing to live out the Biblical values of the gospel and also share the good news of the gospel to those around you. Only the gospel can ingrain the Biblical values that lead to a true spiritual capital transformation!

If we do this then our businesses and value chains (customers, suppliers, staff, regulators, etc.) will be transformed. The sectors in which we operate will be transformed, the whole business sphere in Uganda will be transformed and eventually the whole nation.

Let’s go!