Many people hold a negative perception about banking institutions with some saying they do more harm than good by attaching clients’ property such as land, houses and business premises after failing to pay back the loans in time.
But as majority struggle with such frustrations , Engineer Sotius Ssegawa speaks well about bank loans which he used to propel his towering Hotel Next along Horbert Street in Masaka City to the standard it is today .
To venture into hospitality business , Ssegawa says it was an inspiration from a colleague Mr Ali Kakooza .
“ I had a dream of making a profitable investment ,but I did not have the resources to do that , I consulted my friend Mr Kakooza and he told me that getting a bank loan is workable provided I manage it well . I tried it and with good financial discipline , I have managed to achieve my goal ,” he reminisces
Hotel Next was opened on July ,1 2023 and it has raised the flag of the hospitality sector higher in Masaka Sub Region .
“I have a journey to walk and create a difference in the hotel business in Masaka City and Uganda is my major driving factor,” says Ssegawa.
“Several organisations and companies are coming on board to support us and we’ve clients from different countries coming to enjoy our facilities,” he adds
Despite the demand for high-class hotel services preferred by clients regularly especially in Uganda, Hotel Next boosts with three floors and the facility holds 34 rooms with internet and inbuilt-up Air Conditioner (AC) . An Executive room at the hotel goes for Shs300,000 per night ,Shs 250,000 for Deluxe double room and the same cost for Deluxe Twin room. The single Deluxe goes for Shs150,000.
The hotel also has conference rooms which accommodate between 200 to 250 people .
According to Mr Ssegawa also a renowned electrician and proprietor of Segken Services Ltd based in Masaka City in which he started in 2006 , he grew up admiring to be a business man and indeed God has enabled him achieve his dream.
Segken Services Ltd majorly provides power line construction services, supply and installation of generators as well as internal and external installation of solar power.
“Professionally, I have learnt a lot by working for big organisations like the American Tower Company, Airtel, Umeme, UEDCL and many others which boosted me and my fellow teammates , We were able to learn a lot in business and they were transparent and eager to boost local content which inspired me a lot to invest in hospitality business ,” Ssegawa shares .
The Hotel Next remains a place where people hold their meetings and is regarded by thousands as a hospitable place for networking .
It has of late also become a meeting hub for corporate companies and government officials boasting of 34 accommodation rooms .With a 7 floor extension building nearing completion more visitors will be accommodated in one place . The annex has more 45 rooms including presidential suits too . It also has a swimming pool and health club.
It is crystal clear that with Hotel business and its growth radically in Masaka City , is a one that is booming and numerous entrepreneurs such as Ssegawa could rise up such a multi-billion project to attract them with accommodation and relaxing with their families at an affordable price.
How to succeed in business :
Ssegawa says one has to know what he wants and do research on the sector.
The person who has started an enterprise ,he says must love what he does and engage in it instead of relying on workers a lot.
“Have discipline with money. Human resource capital is key even if you do not have liquid cash as long as workers are committed” he advises
Who is Ssegawa ?
Born to Mr. Michael Titus Kiwanuka and Ms Pascazia Nansubuga residents of Kisoso Village in Masaka City, Mr. Sotius Ssegawa is Married to wife Kevine Ssegwa residents of Kyabakuza suburb and is a graduate with a bachelors Degree and information technology from Mutesa 1 Royal University, Post graduate diploma holder in project planning and management and a Diploma in Diploma in Electrical Engineering.