Stanbic Bank
Stanbic Bank
26.9 C
Kampala
Stanbic Bank
Stanbic Bank
Home Blog Page 1016

Kagame sacks Gen. Nyamvumba as Security Minister as six others arrested

Gen. Patrick Nyamvumba

Rwandan President, Paul Kagame has sacked Security Minister Gen. Patrick Nyamvumba as investigations into his dealing are under way.

Gen. Nyamvumba is the former Chief of Defence Staff of the Rwanda Defence Force (RDF). He has served in the position of Minister of Security for less than a year.

“pursuant to the consitution of the Republic of Rwanda of 2003 revised in 2015, especially in its articles 116, today April 27, 2020, His Excellency The President has removed General Patrick Nyamvumba from his duties as Minister of Internal Security owing to matters of accountability under investigation. General Nyamvumba reports back to RDF headquarters pending further decision” reads the communique signed by Dr. Edouard Ngirente, Prime Minister.

However, Eagle Online has learnt that week the Rwandan authorities arrested six more people who include a husband to an ex-minister. Sources say they are likely to be charged with Gen. Nyamvumba.

Gen. Nyamvumba is the 5th  Minister to be sacked from cabinet in a period of one year and he follows  Dr. Diane Gashumba (Former Minister of Health), Evode Uwizeyimana (Former Minister of State in charge of Constitutional and Legal Affairs).

 

Stories Continues after ad

#COVID-19: Four Tanzanian truck drivers test positive in Uganda

Trucks-at-closed-Katuna-border

 

Uganda has registered four news cases of #Covid-19 and all the four are Tanzanian truck drivers that entered the country.

Uganda has now 79 confirmed cases of #COVID-19. Uganda has registered success as over 45 patients that had previously tested positive have been discharged after under going successful treatment.

“Four  new #COVID-19 cases confirmed today out of the 1,578 samples tested among truck drivers. All new confirmed cases are Tanzanian truck drivers who arrived via Mutukula border. 411 samples from communities tested negative for #COVID-19. #COVID-19 confirmed cases are 79″ reads the statement posted on the social media platform of Ministry of Health.

After successful managing the spread of the virus internally, the country is now struggling on how to curtail the spread of the virus from the two neighbouring countries of Kenya and Tanzania by truck drivers.

Stories Continues after ad

BoU cleans up as seven directors are kicked out in the latest restructuring

Bank of Uganda headquarters

 

Bank of Uganda has announced that seven of the aging directors will be retired to pave way for recruitment of new new ones in a move seen as clean the bank from scandals.

BoU has issued an internal advert for positions of seven positions of executive directors and directors within the institution.

The central bank says employees have been invited to apply, and the opportunities for promotion are restricted to only them.

BoU is searching for two executive directors; the one for Information Technology (EDT) and that for Operations.

The requisite academic qualifications for candidates are must have at least two years of experience serving substantially at the rank of director within the bank.

The other five directors being sought are  director Financial Markets, Medical Administration, Olive Kamuli, director Non-Bank Financial Institutions (DNBFI), director Financial Stability, and Human Resources. Other vacant positions are  director of currency and economic advisor to the governor.

To qualify to be a director, according to the advert, one must have served as Head of Division for a minimum of two years.

In the advert undersigned by Mr Solomon O. Oketcho, the Executive Director Administration at BoU, only a maximum of five candidates shall be presented for oral interviews by the board.

“If the shortlisted candidates are more than five, written leadership and management test shall be administered and a maximum of five successful candidates shall be shortlisted,” the advert further said.

The day for submission of applications shall be May 22.

BOU Cleans up 7 Directors

In February Eagle Online  ran a story where International Monetary Fund cautioned government to retire senior servants at BoU in public interest.

Governor Emmanuel Mutebile was among those who the IMF report says should be retired or never retained. However, it was reported that Mutebile had refused to make the report public as he was among those being mentioned.

According to sections of the leaked report which a source at BoU had seen, several directors who are currently holding offices have been recommended for sacking or retirement in public interest.

The directors listed are head legal services, Margaret Kasule, Benedict Ssekabira, the director of Financial Markets Development Coordination (FMDC), Director Statistics Charles Abuka, Director Medical Administration, Olive Kamuli, Director Financial Markets, and David Sajjabi. Others are director Administrative Services plus a host of deputy directors.

However, this created created panic at the central bank saying the report is biased as it only affects those directors who are said to have forged their age.

Eagle Online has learnt that just last week, there was a bitter exchange between the governor and one of the lawyers brought in to defend those accused for falsifying the age.

Parliament in 2018 recommended that contracts of the governor Emmanuel Tumusiime Mutebile and his deputy, Dr Louis Kasekende should not be renewed, the report of the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has recommended. However, Kasekende’s contract expired and wasn’t renewed.

The report, which was tabled in Parliament last year by Abdu Katuntu, the then chair, accused the top management of the central bank of mismanaging the sale of seven commercial banks, including that of Crane Bank.

Other officials that COSASE wanted to be held culpable are Benedict Ssekabira, the director of Financial Markets Development Coordination (FMDC), Justine Bagyenda, the former executive director for Commercial Banks supervision; and Margaret Kasule, the legal counsel.

 

 

 

Stories Continues after ad

Electricity shock a young girl dead in Kamwokya

A 5 year old girl has been electrocuted to death in Kisenyi 1 Kamwokya 2 parish today when she was trying to prepare herself breakfast.

The deceased Mariam Sabano is a daughter of Mr. Jackson Sitaru and Mrs. Milabu Namudaka who come from Mbale who are the residents of Kisenyi 1 Kamwokya 2 parish and their landlord is Alex Otumu.

According to ASP Ivan Matovu the OC Kamwokya market police station, the girl wanted to boil water using a spoilt kettle that had naked wires and ended up electrocuted and was rushed to the nearby clinic called Gods mercy clinic and drug shop, but upon reaching, the medics realized she had breathed her last.

Matovu says when they received the bad news, they had to come and handle the situation and they are waiting for 99 to carry the body to Hospital for postmortem for further treatment.

Kabuye Sebata, the chairperson LC1 Kisenyi 1 Kamwokya 2 parish says he was called immediately and rushed to check and found when the girl had dead.

Sebata urges his residents always to be careful with electricity and always safe guard their children because children are so vulnerable to such.

Stories Continues after ad

Dissecting loan restructuring

Ms Ekudu

 

By Hope Ekudu

 

As the COVID-19 pandemic evolves globally, disruptions in organisational operations, business and the social-economic status quo remain evident across different countries, organisations and entities. This has seen a number innovations by different organisations to offer solutions that meet their customers’ needs.

One of the solutions has been the restructuring of credit facilities by financial institutions. While a good number know what this stands for, other individuals may have a few questions in the same regard.

Housing Finance Bank’s Head Business and Institutional Banking, Ms. Hope Ekudu, takes time to answer some of the top 10 questions on loan restructuring:

 

  1. What does restructuring mean?

At times, customers may face difficulties in paying back their loans. When this occurs, the Bank and customer may agree to change the loan installment amount, length of the loan (tenure) and any other parameters. This is called restructuring the loan.

2.  What does a moratorium or holiday mean? 

A moratorium or holiday means that a customer is given a grace period during which their payments for loan principal or interest or both are pushed until a later date.

For example, if a loan holiday for principal payments is granted for three months, the customer will pay only interest for each of those three months however after the end of the holiday, they will start paying back both the interest and principal amount until the entire loan is completed including the principal amount for the three months.

If a loan holiday for principal and interest is granted for three months, the customer will not pay any installment for those three months however after the end of the holiday, they will start paying back both the interest and principal amount until the entire loan amount is completed including the amounts for the three month holiday.

 

This DOES NOT mean that the Bank has waived payment or that the customer will not ever pay the principal and or installment amount. It means that payment has been delayed but must be paid at a later agreed date or time.

3.  What is the impact of a restructure or holiday?

If a customer is granted a holiday for example for three months, they will not pay their installment for those months however at the end of the three months, the delayed installments (including interest) will be added back to their loans and installments will start again. This will mean that there may be a slight change in the installment amount paid. The loan will also be extended by the period of the holiday.

If a customer’s loan is restructured then the installment amount and or the loan tenure will change according to the terms agreed between the customer and the Bank.

For the holiday and restructure period, the interest rate terms will remain the same as the original loan amount.

All loan information is submitted to the Credit Reference Bureau and customers are rated according to performance on their loan obligations. Normally a restructure would affect the customer’s credit rating negatively however for this period that is between April 1, 2020 and April 1, 2021, if a restructure or moratorium is granted, the customer’s records within the credit reference bureau will not be affected in line with guidance from Bank of Uganda.

4. Who is eligible for a restructure or holiday?

All customers who have been affected by the #Covid-19 Pandemic are eligible for restructures and holidays on a case by case basis. The Bank understands that customers may have been affected differently by this crisis and may have unique needs. In some cases, customers may actually want to pay back their loans early so as to remove this ‘burden’ on their revenues. It is therefore necessary to consider the impact of the virus and government restrictions such as the lockdown on each business before applying for a holiday or restructure.

5.  How does one apply for a restructure or holiday?

 The Bank is reaching out to various employers to establish the impact of the pandemic and agree on relief packages for their staff who have borrowed under a scheme arrangement.

Individual or personal customers can proactively reach out for support by sending a request for a restructure or holiday to the Bank specifying the impact of the virus on their ability to continue payment and attach evidence such as an E-mail or Letter clearly stating the impact of #COVID-19 as the reason for unpaid leave, termination or redundancy. These requests can be sent directly to salaryloanhelp@housingfinance.co.ug or mortgageloanhelp@housingfinance.co.ug

Business loan customers should complete the request for restructure form available on our website and submit the same through their branch or directly to businessloanhelp@housingfinance.co.ug

In terms of documentation, business customers should

  1. Provide management accounts for quarter 1 that will provide a view of their performance before #COVID-19.

 

2. Provide documentation that shows the impact of #COVID 19 on their business for example notices ( can be emails/letters ) of cancelled contracts, closures of their business, cancelled or delayed orders from/to suppliers, public notices that affected their ability to work or carry out business during the lockdown.

 

6. Which options are available in terms of length of holiday or postponement of payments? 

Depending on the impact of the crisis, a customer may apply for a repayment holiday between 1 to 12 months effective  April 1, 2020.  It is necessary to do a proper analysis of the business to determine the best period for the holiday taking into account the need to show that there will be a sustainable source of income after the holiday period.

7. Are there fees involved for a restructure or holiday?

Normally yes but due to these unique circumstances, Bank fees have been waived for these restructures and holidays however third party fees such as stamp duty and legal fees will have to be paid.

8. From the guidelines and communications, a customer must prove the impact of COVID on their business. How do they show that?

Individual or personal customers can provide proof of impact by sharing communication from their employer such as an E-mail or Letter clearly stating the impact of #COVID-19 as the reason for unpaid leave, termination or redundancy.

Business customers should provide management accounts for quarter 1, 2020 that will provide a view of their performance before #COVID-19. In order to show the impact, there is need to show through a narrative or documentation e.g notices of cancelled contracts, closures of their business, cancelled orders, inability to work during the lock down etc.

The Bank will consider various public notifications from various ministries as well.

9. How long will it take for the customer to receive feedback?

 The process of evaluation and approval will take an average of one week. After this, the customer will need to agree to the new terms before changes are complete

  1. Can a customer still get a new loan after a restructure or during the holiday period? 

Customers can approach the Bank to request for new loans after a restructure or holiday and the Bank shall consider the unique circumstances before any final decisions are made.

The writer is Head Business and Institutional Banking

Housing Finance Bank

 

Stories Continues after ad

What is Apollo Makubuya’s game plan?

Apollo Makubuya

 

By Batanudde Kiwanuka-Mukono

 

Dear Jonathan Mwesigwa, I have read your criticism of Mengo on Federo and how they refused it over cars. I would love to know what your role was in Mengo. For some years, you were hired as Owek Apollo Makubuya’s Personal Assistant. When Owek Makubuya was in Mengo as a Minister, he was part of the team that negotiated the Regional Tier with Museveni’s government. Is it possible that at that time he saw that Federo was not possible and instead negotiated for the Regional Tier?

I remember when Owek Makubuya was appointed 3rd Deputy Katikkiro, he promised a roadmap for delivering Federo. He said that was going to be his role. By the time he left Mengo years later, there was no Federo, can you write what could have led to that? Why didn’t he deliver Federo? At that time you were his PA, so you know what happened. I have seen you post on social media that you are close friends. Can you interview him and write something?

You have spoken about the vehicles. I have seen Mr Museveni give out cars for a long time to Bishops such as your own father. I have never seen Mr Museveni giving anyone an old used car. He always gives brand new cars mainly Mitsubishi Pajeros though of course, he gave the Kabaka a Landcruiser VX during his 60th birthday. What could have prompted Mr Museveni to give Mengo ministers very old Toyota Surfs? Is it because we are so cheap so yatujooga natuwa such old cars?

I have seen the current Mengo leadership, many of them are established business people who were driving more expensive cars than these Toyota Surfs that are about 16 years old. I believe these cars were bought to help in transport than a bribe from Mr Museveni. I believe Ssaabasajja can afford these cars for his ministers.

Do you want to say that the Kabaka accepted a bribe from Mr Museveni in the form of 16-year-old cars? All the ministers sold the kingdom’s soul once they saw a 16 year old car presented to them when in actual sense they own personal cars that cost 10 times what those ones cost?

The Katikkiro as powerful as he might be, his role is to help Ssaabasajja in the administration of the kingdom. The buck stops with Ssaabasajja. Your article insinuates that our Kabaka has become senile that he can no longer make decisions on his own including determining who visits his home and who doesn’t. I think you need to apologize to Ssaabasajja because omuweebudde nnyo. I don’t know what your father, a very decent Anglican Bishop thinks when he sees you defaming the Kabaka he so loves and supports almost all the time. I think if the Katikkiro called you a young man as you allege, he didn’t mean your age rather your mind.

You talk of young bright people to be offered scholarships at world institutions. I think you consider yourself one such person. Where will the kingdom get money to send you to Oxford or Harvard Law School? Since you are so bright, why don’t you get yourself a scholarship? Is it because you got a pass degree and failed LDC as it is alleged that you have failed to get a scholarship on your own?

The Kabaka’s Education Fund has given thousands of scholarships to many people. It is an inferiority complex that makes you think that Buganda to develop must send its people abroad. Buganda developed with its people right here at home. It is the myopic thinking that makes you believe that if one organizes a conference once a year and invites Prof Augustus Nuwagaba from Kabale to give a keynote address then Mr Museveni will give Buganda Federo.

You tried albeit with difficulty to link your misinformed article to #Covid-19 with disastrous results. #Covid-19 has taught us to focus on local solutions not to think that our problems will be solved by Europeans and Americans. So your clamor for a scholarship from the kingdom to Europe or America isn’t the solution. The solution is in the Kabaka offering scholarships and bursaries to bright people who may not be as lucky to be born with a golden spoon as yourself.

The writer is a senior Muganda 

liviing in Mukono district 

Stories Continues after ad

Jinja District Commissioner Eric Sakwa remanded to prison until May 3 over man slaughter

RDC Eric Sakwa holding a diary being escorted to police.

Jinja Resident District Commissioner Eric Sakwa has been remanded to Kirinya prison until May 3 over allegations of man slaughter.

Sakwa has been accused of using high handedness in implementing government work.

He was accused of torturing former Forum for Democratic Change party president Dr. Kizza Besigye.

He was recently accused of torturing a pastor in Jinja. However, he has been at logger head with politicians in Jinja.

Jinja grade one Magistrate Court remanded Sakwa to Kirinya prison until 13 May, 20 on three charges.

Magistrate Happy Anne Komuhangi charged Sakwa with two others who include Kazimbyewa Bumali and Isimba Muhamadi all residents of Jinja town with Man slaughter, attempted murder and robbery.

It is alleged that early this month Sakwa and his colleagues while implementing presidential directives on #Covid-19 especially curfew beat now late Charles Isanga of Lwanda in Mafubira sub-county after they found him still operating a bar past curfew hours.

The deceased Isanga was admitted to Jinja hospital where he passed on.

Sakwa was arrested by police from Jinja led by Kiira region police commander Paul Nkore from a radio station in Jinja town (NBS FM) where he was conducting a show about the progress of district #Covid-19 Task force.

 

Stories Continues after ad

#COVID-19: Qatar charity organisation donates to Ugandans in Doha

The Qatar Charity Organization (QC), an International Charity Organization donated a consignment of food items to feed an estimated 200 households of the Ugandan community residing in Doha in the wake of the Coronavirus Pandemic.

The donation was received by Dr. Stephen Chemoiko Chebriot, Uganda’s Ambassador to Qatar and delivered to the Embassy premises in Doha on 20th April 2030.

Chebriot conveyed a message of gratitude to Mr. Mohamed Tahtamouni who delivered on behalf of Qatar Charity

The consignment of food items included 400kg of rice, 1600 packets of macrons, 400 packets of pasta, 600 packets of noodles, 200 kg of salt, 200 kg of wheat flour, 360 litres of cooking oil, 200 kg of sugar, 200 packets of tea leaves, 200 kg of red masoor dal.

The Embassy is working with the Ugandan Community to identify the neediest persons and has started to distribute the food items.

Stories Continues after ad

#COVID-19:Uganda registers 11 new cases of Kenyan and Tanzanian truck drivers 

Coronavirus victims

Uganda Ministry of Health has registered 11 new cases of #COVID-19 all of the foreign truck drivers from Kenya and Tanzania.

The 11 positive cases that were registered are of six Tanzanian truck drivers who arrived via Mutukula Border post and five Kenyan truck drivers.

“Of the 11 confirmed cases, six were Tanzanian truck drivers who arrived from Tanzanian via Mutukula border post, five were Kenya truck drivers (Three entered via Malaba border post and via Busia)  The Ministry of Health appeals to the general public to remain calm but vigilant” reads the statement by Dr. Henry Mwebesa, Director General Health Services.

The 11 cases bring the total number of #COVID-19 to 74 while more than 40 patients have undergone treatment and discharged from hospitals.

Stories Continues after ad

The Only Two Podcasts You Need To Get Through A Dull Day

All of you would have had moments where you are in need of a source of laughter to get you out of a depressive phase. You often seek a remedy through a sitcom or a comedy movie or comic strips, perhaps, but how many of you tune in to podcasts? If you haven’t done it so far, now is a good time to start.

Out of all the comedy or satirical podcasts out there, two of the most popular and best-reviewed podcasts in this genre are Ethan Klein’s and Hila Klein’s podcast and the podcast hosted by Kevin and Bean. Read on to see what makes these podcasts worth watching.

h3h3Productions and their podcast

Some history

h3h3Productions is a YouTube channel produced by the husband and wife duo Ethan and Hila Klein. Their YouTube channel started in 2011, and in addition, the duo also runs a vlog channel and a podcast.

The H3 Podcast was started in 2016, and the creator of science fiction sitcom Rick and Morty, Justin Roiland, was the show’s first celebrity guest. There is also a separate podcast just for the highlights of various episodes.

What’s the podcast about?

The content of the podcast, except for few special episodes called “Top of the Week” that feature only the hosts, involves Ethan and Hila interviewing YouTubers and celebrities, discussing current events, and satirizing internet culture. Some of the guest celebrities on the show include Swedish YouTuber and comedian PewDiePie, Japanese singer and rapper Joji, American news commentary show host Philip DeFranco and Canadian author and psychologist Jordan Peterson.

People’s response

The fans of the podcast praise its candid nature (despite some criticism for comedy on sensitive topics) and the comic relief it gives to people when they listen to it on the way to work or before bed. Some viewers have also praised the show’s producer, Dan, and Ian, the intern, who also make appearances now and then. On YouTube, the podcast channel has over 2.1 million subscribers and more than 233 million views, and the highlights podcast channel has over 1.5 million subscribers.

Best episodes

Ethan and Hila have over 180 episodes recorded so far, and some episodes have been more popular or unique than the rest. Here is a glimpse of some episodes from the podcast:

Episode #48 (Feb 2, 2018): Jordan Peterson’s interview covers a discussion about his new book, “12 Rules for Life: An Antidote to Chaos”. He also talks about his ethical principles.

Episode #55 “How to save a life” (March 13, 2018): In this special episode, the guest star, Chris Betancourt, is a man diagnosed with a rare form of leukemia with only one year to live. Chris’s attitude and sense of humor, even when being so close to death, making this a valuable watch.

Episode #140 (September 3, 2019): Science writer, skeptical investigator, and retired video game programmer Mick West join the hosts in this episode. The topics they talk about include Bob Lazar, Area 51, and a debate about what really happened to Jeffrey Epstein.

Episode #161 where the hosts discuss Papa John’s interview where he claimed to have consumed 40 pizzas in 30 days, episode #154 – a Halloween special – where the entire podcast gang go out wearing costumes, and episode #143 featuring podcaster Bill Burr are some of the other famous picks from the show.

Kevin and Bean

About the hosts: Kevin and Bean

Kevin Ryder and Gene “Bean” Baxter were the hosts of the Kevin and Bean show on KROQ-FM, an alternative rock-format radio station in Los Angeles, California. Baxter left the show in late 2019, and the show went on till January 2, 2020, almost 30 years since its inception in 1990. This was followed by a spin-off, Kevin in the Morning with Allie and Jensen, which lasted till March 2020.

What are the episodes like?

The Kevin and Bean podcast has over 900 episodes starring a variety of guest stars, including Pregame founder RJ Bell, The Daily Show host Trevor Noah, American stand-up comedian, and podcast host Nikki Glaser, tabloid talk show host Jerry Springer, and American rock band Green Day.

Some of the notable episodes are:

Bean’s Final Show (November 7, 2019): An episode that many fans wished never happened, this is was the last episode that Gene Baxter co-hosted before Allie Mac Kay and Jensen Karp stepped in. Radio personality and American Idol host Ryan Searcast makes a guest appearance and interviews Bean. Several other guest stars and former Kevin and Bean members feature or call in including American talk-show host Jimmy Kimmel, podcaster Adam Carolla and host of The Joe Schmo Show Ralph Garman.

Guess stars Bill Burr and Louie Anderson(November 30, 2018): American stand-up comedian and host of Monday Morning Podcast, Bill Burr, along with game show host and author Louie Anderson make appearances in this podcast episode. The hosts, along with recurring member Beer Mug, have a chat on the topic, “The most embarrassing thing someone would find after you died.”

What did the fans think?

The exit of Bean was a disappointment for fans, and not many of them were initially enthusiastic about the spin-off. A lot of followers reacted very negatively at the act of KROQ firing the entire podcast crew in early 2020.

However, for most of the show’s run – when Kevin and Bean were hosts – fans considered one of the funniest shows of its times that they regularly listened to every morning. Given that the show ran for three decades, a lot of them associated a sentimental value with this podcast, considering it as something they grew up and matured with.

Laughter is the best medicine

It is well-known that sometimes all you need is a good laugh to get over so many of your problems – mental and emotional. Now, with access to the Ethan and Hila podcast and the Kevin and Bean show on Podchaser, you can tune in and listen to your favorite or latest episodes and get your dose of daily laughter.

Stories Continues after ad