Stanbic Bank
Stanbic Bank
23.9 C
Kampala
Stanbic Bank
Stanbic Bank
Home Blog Page 1024

Russia registers first Covid-19 vaccine

Covid-19 testing kits

Russian President Vladimir Putin announced the registration of the first vaccine for the coronavirus in the world and said one of his daughters had already taken it.

“As far as I know, a vaccine against a new coronavirus infection has been registered this morning, for the first time in the world,” he said at a meeting with members of the government, RIA Novosti reported.

“Although I know that it works quite effectively, it forms a stable immunity and, I repeat, has passed all the necessary checks,” Putin said.

Clinical trials of this Russian vaccine have been completed in less than two months and phase three trials are set to begin on Wednesday, despite the vaccine having already been registered. Countries including the United Arab Emirates, the Philippines and Saudi Arabia are taking part in those trials.

No data has yet been published by the researchers and the long-term effects and safety of this possible vaccine currently remain unclear.

Putin also stated that one of his daughters had been vaccinated against the coronavirus, commenting, “In this sense, she took part in the experiment.”

Responding to the news, the World Health Organisation said it is in “close contact” with Russian health authorities about the “possible pre-qualification process for a Covid-19 candidate vaccine which requires rigorous review,” Reuters reported, citing a WHO spokesman.

At the end of July, the World Health Organization said that there were 26 candidate vaccines in the clinical evaluation stage, including the one registered in Russia that was developed by the Gamaleya Scientific Research Institute of Epidemiology and Microbiology.

Russia has denied that it is part of an “arms race” to develop a vaccine, saying it wants to cooperate with other nations. There has been international skepticism that Russia has developed an effective and safe vaccine, however.  White House coronavirus advisor Dr. Anthony Fauci, for instance, has cast doubt on the approaches to testing in Russia and China

Russia’s sovereign wealth fund, the Russian Direct Investment Fund (RDIF), said Tuesday that it’s backing the production of the vaccine which will be called ‘Sputnik V’ in foreign markets. It stated there had been “considerable interest” from abroad.

“We have received preliminary applications for over 1 billion doses of the vaccine from 20 countries. Along with our foreign partners, we are already prepared to manufacture over 500 million doses of vaccine per year in five countries, and the plan is to ramp-up production capacity even higher,” the wealth fund said in a statement.

Full-scale production of the vaccine is expected to begin in September, it added.

Kirill Dmitriev, the CEO of RDIF, rebuffed international skepticism over the vaccine, telling reporters Tuesday that bias against it was politically motivated.

″(The) Russian vaccine has been questioned, and will be questioned, regardless of anything we do,” Dmitriev said.

“We know that before any major announcements already there were accusations that the Russian vaccine may have been stolen, which is completely false, and now we publish on the Sputnik.com site all the research dating back to six years ago and how the vaccine was created.”

With regards to the vaccine trial data not yet being published, Dmitriev conceded that, “some of the concerns are valid.” He said the results from Phase 1 and 2 trials would be published shortly, but did not give a date.

“We’ve seen the results of clinical trials Phase 1 and 2, we’ve seen animal results and they are incredibly impressive, and all of this is going to be published,” he said.

The registration of the vaccine had been signaled earlier this month. Russian Health Minister Mikhail Murashko told reporters in early August that clinical trials of the coronavirus vaccine were over.

“Clinical trials of a coronavirus vaccine developed by the Gamaleya center are over, paperwork is underway for the vaccine’s registration,” Murashko said, according to Russian news agency Tass.

Stories Continues after ad

Uganda Bankers Association, IFC partner to train financial institutions and SMEs in Uganda

The IFC, a member of the World Bank Group, and the Uganda Bankers Association (UBA) have partnered to train financial institutions and small and medium-sized enterprises (SMEs) in Uganda to help them build financial strength and resiliency to better meet the challenges of the COVID-19 crisis.

IFC’s training for 32 financial institutions will equip them with knowledge, tools, and techniques to help them meet the current economic challenges. The training delivered to roughly 500 SMEs will help them navigate the challenges of lockdowns and reduced trade. The training will be provided online over the next six weeks.

Wilbrod Owor, Executive Director at UBA, said, “This partnership is timely and is in line with our mission to promote a sound banking environment and drive financial inclusion through financial literacy initiatives. We are excited to work with IFC to roll out these training sessions, which will help achieve growth, sustainable development, and poverty reduction in Uganda.”

Dan Kasiyre, IFC Resident Representative for Uganda and Rwanda, said, “The virtual trainings on stress testing and SME crisis management are part of broad actions by the World Bank Group to support economic recovery efforts during the COVID-19 pandemic. IFC is a longtime champion of the private sector in Africa and our experience will help Ugandan businesses navigate the difficult waters of COVID-19.”

The webinar trainings for financial institutions include stress testing to help banks assess the impact of COVID-19 on their portfolio and support their risk mitigation. The SME webinars will cover topics such as accessing finance during crises, adjusting business plans, communicating with stakeholders, and digital sales, marketing, and promotion. Recordings of the SME training webinars will be broadcast on UBC TV, Uganda’s public broadcaster.

The World Bank has predicted that Africa will suffer its first recession in 25 years because of the COVID-19 pandemic, which has disrupted trade, travel, and business activity worldwide, including in Uganda.

IFC launched an $8 billion fast-track financing facility in March to assist companies and countries in their efforts to prevent, detect, and respond to the rapid spread of COVID-19. As of July 31, IFC had invested several hundred million dollars supporting African partners through this facility.

Stories Continues after ad

Covid-19: LDU to resume night operations

The Ministry of Defence has confirmed that the Local Defense Unit (LDU) will resume night operations upon completion of their training. The LDU will work in support of Uganda Police to curtail criminal activities in the Country.

UPDF suspended the LDU operations following various complaints of human rights violations, and gruesome killing people. It is reported that over eight people died at the hands of security agencies implementing COVID-19 guidelines during the first three months of the lockdown. All the victims were either shot dead or tortured to death by the soldiers, police officers or Local Defense Unit officers.

Currently all the personnel of the 10 Battalions of the LDUs operating in Kampala Metropolitan Policing (KMP) Area are undergoing refresher courses at Kakiri Barracks.

According to the spokesperson of Uganda Defence forces (UPDF) brig Gen Flavia Byekwaso, the LDUs who have undergone and completed their training will resume operations only at night to curtail criminal activities and they shall not participate in the daytime enforcement of COVID-19.

She said the redeployment follows public outcry over the increasing criminality in the Country.

“The LDU shall participate in intelligence led limited operations on specific targets on request and in support of Uganda police services. They will not participate in day enforcement of President Museveni’s directives peddled at curbing the spread of Covid-19 pandemic,” she said.

She called on Ugandans to cooperate and support the forces in the notable duty to ensure that every one is safe and secure from any threat and all acts of criminality.

Stories Continues after ad

Express FC confirm signing of Kusiima Cryspus

kusiima during unveiling

Express FC have confirmed their first signing this transfer window, goalkeeper Kusiima Cryspus on a two year deal.

The 24 year old who was formerly at Tooro United will be looking to battle for the number one jersey alongside main stay Matthias Muwanga.

“Am happy to join this great club and I can’t wait to get started,” Kusiima told the Express FC website.

Kusiima’s arrival is a boost to the goalkeeping department which needed backup incase any of the goal minders picked up a long term injury.

“Gufi” like he’s fondly known by his peers is the first of many signings to come for Express FC ahead of the new season which is scheduled to start on 17th October.

“I know I’ve joined a team with competitive players but the good thing is it’s healthy competition and I also believe if we work as a unit, we shall all win as a team.” He added.

Mathias Muwanga is the first choice goalkeeper but due to a nagging injury last season, all goalkeepers will have to battle for the number one spot during preseason before the season begins.

Stories Continues after ad

Standard Chartered Bank, Microsoft partner to accelerate digital transformation

Standard Chartered logo

Standard Chartered Bank and Microsoft Corporation have announced a three-year strategic partnership to accelerate the bank’s digital transformation through a cloud-first strategy.

This partnership marks a significant milestone for Standard Chartered in making its vision for virtual banking, next-generation payments, open banking and banking-as-a-service a reality. Leveraging Azure as a preferred cloud platform, the companies will also co-innovate in open banking and real-time payments to help the bank unlock new banking experiences for clients.

As part of its digital transformation, Standard Chartered will adopt a multi-cloud approach, where significant applications, including its core banking and trading systems and new digital ventures such as virtual banking and banking as-a-service, will be cloud-based by 2025, subject to regulatory approvals. The bank will also adopt a cloud-first principle for all new software developments and major enhancements.

As technology reshapes the banking industry, Standard Chartered recognizes that a cloud-first strategy is critical to the bank’s ambition to make banking simpler, faster and more convenient. By being digital-first, the bank will be able to meet the demand for seamless banking virtually anytime, anywhere, and make banking more accessible to people across its network.

Michael Gorriz, Group Chief Information Officer of Standard Chartered, said: “Cloud is a cornerstone of Standard Chartered’s strategy to meet the present and future banking needs of our clients. Cloud providers have invested massively in the reliability and automation of infrastructure and platforms. Using cloud services improves our ability to be agile and innovative, while increasing our operational efficiency and resilience. As disruption in the financial industry continues, we can focus on client benefits by deploying our solutions quicker and allowing for faster integration of new business models and partners. To realize our digital ambitions, Standard Chartered has chosen Microsoft as a strategic partner and this partnership marks a major milestone for the bank in adopting a cloud-first approach.”

Bhupendra Warathe, Chief Technology Officer, Cloud Transformation at Standard Chartered, added that: “The pandemic has shone a spotlight on the need for businesses and banks to be resilient from a risk mitigation, cost and security perspective. With the increasing trend of an always-on digital economy, commercial and consumer clients are looking for applications and services that empower them to do online banking from anywhere, flexibly and efficiently. The speed and scale of continuous innovation offered by Azure allows us to innovate with the latest AI services to meet evolving client needs. We can pilot new apps in one market and scale them rapidly across others. This is especially important for a bank with a footprint as broad and diverse as ours.”

Standard Chartered will adopt Microsoft Azure as a preferred cloud platform to meet the bank’s need for resilient data centers and cloud services and addressing customers’ security, privacy and compliance requirements across the bank’s global footprint.

The first set of capabilities to move to Microsoft Azure will be Standard Chartered’s trade finance systems, allowing for seamless cross-border trade for the bank’s corporate and institutional clients.

The partnership will also advance the bank’s digital workplace transformation with Microsoft 365 and Microsoft Teams providing modern productivity and collaboration tools to Standard Chartered’s 84,000 employees across its 60 markets.

Standard Chartered will also use Microsoft Azure artificial intelligence (AI) and data analytics capabilities to enhance and automate banking processes as well as deliver hyper personalization of its client products and experiences. Co-innovation in open banking application programming interface (API) and Internet-of-Things-based, real-time payments will also help the bank unlock new banking experiences for clients.

Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft said: “Cloud computing is an enabler for financial institutions to modernize their infrastructure and systems, to gain the agility they need to respond to competitive pressures, regulatory environments and customer demand. We are committed to helping Standard Chartered Bank in its ongoing digital transformation journey as it strives to address evolving customer needs and build the next generation of banking experiences.”

Standard Chartered strives to understand the evolving needs of its communities and be an enabler for change. As a part of the strategic partnership, the bank and Microsoft will explore sustainable finance and business initiatives to expand sustainability across the industry.

Stories Continues after ad

Katwe DPC Epedu David, OC Ndeeba arrested over demolition of St. Peter’s Church

Police is holding the district police commander (DPC) of Katwe Police station SP Epedu David, OC Station Ndeeba Police Station, ASP Mugira Yeko Kato and the Field Force Unit (FFU) Commander KMP/South Region, ASP Isabirye Kaloli over the demolition of St. Peters church of Uganda, Ndeeba.

The church was demolished this morning disregarding government directives that stopped all evictions during this COVID19 period.

According to Kampala Metropolitan Police spokesperson Patrick Onyango, Katwe Police Station got information of the demolition at 0100 hours and a team was dispatched to the scene.

Onyango said the officers will be charged with neglect of duty.

“Police were not informed about the eviction and demolition as the practice is.  The team found people demolishing the said church and arrested 11 suspects.” He said

In tandem, he confirmed the arrest of 11 suspects implicated in the demolition exercise of the church.

The suspects are Kawooya Mohammad, Bbosa Muniru, Kiberu Amza, Mutebi Abbasi, Bulega Ali, Matovu Simon, Kalika Ali, Mujuzi Andrew, Ssekito Badru, Isirinya John and Maruti Bashir.

They are currently detained at Katwe Police Station to help with investigations. The suspects are charged with malicious damage to properties.

Police impounded two motor vehicles that was recovered from the scene and these are Reg. No. UAY 796N canta white loaded with metals, UBG 682Q Tractor/ Engineering plant (excavator).

“We want to warn the general public who are planning to evict people during this period of COVID19 that they risk being arrested and charged in courts of law if they go ahead with their intentions.” Onyango said.

Stories Continues after ad

Uganda AIDS Commission to hold Annual Review meeting

Uganda AIDS Commission (UAC) is set to hold Annual Joint AIDS Review meeting to assess the achieved targets of the National HIV/AIDS Strategic Plan for 2015/2020.

Speaking earlier today, the Minister for Presidency Esther Mbayo said the review will take place on 26th and 27th August. The review is peddled at strategizing to ensure we achieve our goal of Ending AIDS by 2030.

The recently released Global HIV and AIDS statistics show that Uganda is among the front runners in reducing new HIV infections. However, there are still disparities in HIV prevalence among the various districts.

President of Uganda Yoweri Kaguta Museveni has been at the forefront in the fight against HIV/AIDS alongside other partners who have supported the National HIV Response such as the Embassy of Ireland, UNAIDS, United States Government among others.

For a long time the epicentre of HIV was Rakai alongside other thriving urban centres and many districts in Uganda such as those along the highways and rapids commercialization in the Karamoja region did not have any cases of HIV infection. However, to date, every district in Uganda has cases of HIV.” said Hon Esther Mbayo, Minister for the Presidency.

“Because the achievements in reducing HIV prevalence have not been shared equally between districts, it is important that we act with urgency to achieve our goal of Ending AIDS in Uganda by 2030” she said

HIV infection in Uganda is gendered with prevalence being higher among women at 6.8% than men at 4.2%. 2.8% among young women and 1.1 per cent among young men. Amongst older adolescents and young people, prevalence is almost four times higher among females than males. Despite numerous HIV prevention interventions, there is increased engagement in risky sexual behavior including multiple sexual partners, low condom use among those engaging in high risk sex and decline in age of sexual debut; widespread self-stigma, low uptake of couple testing, and significant proportions of people, especially men living with HIV, who do not know their HIV status.

“We need to implement behavior change interventions and disseminate messages for HIV prevention to reduce HIV infections; pay attention to the vulnerabilities and risk factors in the general population apart from concentrating on only the urban hot spots and also roll out the local funding sources such as the One Dollar Initiative to ensure sustainability of the response if we are to End AIDS as a public health threat by 2030.” She said

Stories Continues after ad

DPP confirms charges against Kasekende, Bagyenda and Sekabira

DPP, Justice Jane Frances Abodo.

 

The Director of Public Prosecutions (DPP) has confirmed charges against the former Deputy Governor Louis Kasekende, former Director of Commercial Banks Supervision Justine Bagyenda and the central bank’s Director for Financial Markets Development Coordination (FMDC) Benedict Sekabira.

In an August 4th letter titled: Prosecution of Bank of Uganda officials to wit Louis Kasekende, Justine Bagyenda and Benedict Sekabira, addressed to a petitioner named Kakuru Sam, the DPP Jane Frances Abodo effectively confirmed that the trio are under investigation.

“This is to acknowledge receipt of your complaint in regards to the above [investigation of Kasekende, Bagyenda and Sekabira]. This letter is addressed to two institutions which are both mandated to direct on investigations. The complaint should be addressed to one institution for proper investigations and follow-up and also to avoid duplicity and wastage of resources, “reads DPP Abodo’s letter.

DPP-letter

Eagle Online understands that DPP was responding to an earlier letter written by CID in regard to the investigations and prosecution of the three officials.

The decision to prosecute the trio comes after the DPP wrote to the Criminal Investigations and Intelligence Department (CIID) requesting that properties that they irregularly acquired due to the closure of seven commercial banks be attached.

A forensic Parliamentary audit by the Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) discovered that the three-Kasekende, Bagyenda and Sekabira, profited from the botched closure of seven commercial banks.

In its report, the Committee recommended that the relevant arms of government like the Inspectorate of Government (IGG), Directorate of Public Prosecutions (DPP) and the Financial Intelligence Authority (FIA) take interest in how the trio acquired astronomical wealth.

Stories Continues after ad

Lions need to be protected to avert extinction

 

World Animal protection

 

As the world marks World Lions Day today, World Animal Protection warns that the King of the Jungle may soon be extinct if urgent measures are not taken.

Edith Kabesiime, Campaigns Manager at World Animal Protection says, “African lions are facing human and nature induced threats hence the need to prioritize their protection. We have witnessed the population of lions in Africa declined in the last decades as human beings occupy their habitat.

Statistics from the International Union for Conservation of Nature (IUCN) indicate that Africa’s lion population declined from 200,000 in the last century to the current 20,000. Lions exist in 26 African countries. The continent has lost about 90 percent of the carnivore from its original habitat.

Climate change, removal from their habitats for entertainment and poaching to satisfy the traditional medicine industry are some of the contributing factors to decline in wild lion populations. Shrinking of prey base linked to massive hunting has increased their risk of death by starvation.

Captive breeding of lions that has intensified in some parts of Africa is also a threat to their survival. Animal welfare is often not a priority. Lack of adequate basic animal welfare conditions, such as enough water, food, space, shelter and medical care, is sadly a stark reality in most commercial breeding farms. This has been propelled by the urge to make profits through wildlife trade.

African lion has been categorized by IUCN as a vulnerable species amid international trade in its claws, bones and jaws to meet a rising demand for traditional medicine and jewellery.

Wildlife trade is not sustainable. If anything, it is recipe for ultimate extinction and possible outbreak of a future pandemic like what we are experiencing currently.

It is essential for an immediate action to be taken to protect and save lions from future extinction. A ban on international trade in lion’s products coupled with enforcement of laws to deter poaching will help reverse their declining numbers in Africa.

Policy makers need to consider a total ban on wildlife trade. There is need for a coordinated global action to advocate for it as a way of saving Africa’s wild Populations.

At individual level one should distance themselves from wildlife trade ultimately making it socially unacceptable. If we learn anything from the current situation, it is that we need to leave wild animals where they belong – in the wild. We all have a responsibility to make a shift in our behaviour and attitudes towards animals that could save the lives of lions, other wildlife species, millions of people and our economies,” Says Tennyson Williams, World Animal Protection Country Director.

This year’s World Lion Day is marked with keen interest in three objectives; The first is to raise awareness of the plight of the lion and the issues that the species faces. The second is to find ways to protect the big cat’s natural environment. And the third is to educate people on how to prevent human-wildlife conflicts. Humans and large species like cats can live in harmony together, but only if they understand how to do so.

 

Stories Continues after ad

Kateshumbwa faces arrest over ‘illicit’ wealth

Dicksons Kateshumbwa

 

Former long-serving Commissioner at the Uganda Revenue Authority (URA) Dickens Kateshumbwa is living on tenterhooks with security tightening the noose around him after he failed to definitively give an explanation over how he accumulated his massive wealth.

Security took interest in the source of Kateshumbwa’s wealth after it emerged that he owns a fleet of long-haul trucks and trailers estimated to be in excess of $1m while he also owns a top Clearing and Forwarding firm.

The Clearing and Forwarding industry is one of the most lucrative and security is following up an intelligence tip that Kateshumbwa used his office of the Commissioner Customs to ensure that all money-spinning clearing and forwarding clearances were managed by his firm, raising questions of conflict of interest.

Kateshumbwa served as Commissioner Customs for over 12 years and was named Commissioner for Domestic Taxes in 2019 as the tax body’s Director General Doris Akol tried to appease President Museveni, who was angry over the skyrocketing corruption at URA.

With the changes not enough to stem the tide of fiddling of tax-payers money at URA, a furious Museveni sacked the DG Doris Akol and replaced her with John Musinguzi Rujooki.

After getting wind that he was next in the firing line, Kateshumbwa threw in the towel and literally jumped before he was pushed.

Unfortunately for Katesh, as he is popularly known, his fate had already been sealed as spies planted at the tax body by President Museveni had already compiled a dossier about him, detailing how he connives with major importers to rake in millions of dollars while leaving the tax purse in red.

When the dossier was presented to President Museveni, he was particularly angered by the fact that had it not been the massive tax evasion at the tax body, Uganda would be in a potential position of funding its budget without taking in huge high-interest loans.

President Museveni told a meeting that he is tired of government technocrats illegally amassing money and then, faced with inquiries, resigning their positions and opting to run for political offices-just like Kateshubwa is running for the Sheema Municipality seat.

Eagle Online reliably understands that, President Museveni has already met Criminal Investigation Directorate boss Grace Akullo and working head of State House Anti-Corruption Unit, Lt. Col. Edith Nakalema about impending arrest and prosecution of Kateshubwa over his source of wealth.

Mr. Kateshumba is currently contesting in the National Resistance Movement (NRM) party primaries. He is facing the Minister of Science and Innovations Dr. Elodia Tumwesigye who sources allege has been lobbying authorities to probe Katushumba’s source of wealth.

 

 

 

Stories Continues after ad