Trust: The most valuable currency 

Trust is incredibly valuable, it doesn’t come cheap. Ironically, it is often built without any cost at all.

Simply being honest and capable, consistently, can become a great asset, forming the bedrock of successful relationships in both personal and professional realms.

Take a walk through any market in Uganda. Market vendors thrive not just on good produce, but on relationships cultivated over time. Buyers return to those they trust to offer fair prices and fresh goods.

This trust is not merely a by-product of transactions; it is the foundation upon which these vendors build their businesses.

Imagine the odds of finding a trustworthy mechanic or carpenter. The ones who stand out are those who build loyal customer bases through honest work and word-of-mouth recommendations.

In these instances, trust acts like currency - flowing freely, with no need for bureaucracy or formal contracts.

This informal yet powerful exchange of trust is essential in a society where relationships often outweigh formal agreements.

The same principle applies to the rise of mobile money in Uganda. Mobile Money businesses didn’t grow solely through technological advancements; they earned the trust of Ugandans to handle their hard-earned money in a country that was once skeptical of digital finance.

This trust transformed the way people viewed financial transactions, making digital payments the norm rather than an exception.

Another remarkable example of the power of trust in business is the story of a famous Ugandan entrepreneur. Starting with very little at first, this businessman built an empire on credit in Asia by leveraging the trust he established with suppliers.

His consistent ability to honour commitments and deliver on promises allowed him to expand his lines of credit and grow ventures across Uganda and beyond.

As the saying goes, “If you can’t be trusted with small things, you can’t be trusted with big ones.” This principle is especially relevant in business, where a single misstep can damage a reputation that took years to build.

In today’s landscape of personal branding and business sustainability, trust is more critical than ever. For entrepreneurs, especially, cultivating a reputation for reliability and integrity is key to long-term success.

Clients return to businesses they trust, providing the stability and continuity needed in an ever-changing market.

Ultimately, trust is the most valuable currency we possess. It transcends transactions and formal agreements, creating a network of relationships that can support us in both good times and bad.

In a world where trust can often feel scarce, those who prioritise honesty and integrity will find themselves truly wealthy, in the most meaningful way.

The writer is the managing director of Maru Credit Uganda