Stanbic Bank
Stanbic Bank
22.8 C
Kampala
Stanbic Bank
Stanbic Bank
Home Blog Page 1077

Dfcu bank in crisis as UK’s CDC Group exits

By
Our Reporter
-
Dfcu head office

Commonwealth Development Corporation (CDC) Group of the United Kingdom that own 9 per cent of the shares in Dfcu limited has announced that it will exit the company after accepting to sell its shares to an external investor, Eagle Online understands.

“Dfcu limited…advises its shareholders and the general public that a significant minority shareholder has received and accepted an expression of interest for the purchase of its shareholding in the Company by another,” Dfcu said in a recent cautionary announcement.

The company however, warns that if successfully concluded, the transaction may have material effect on the price of the company’s shares.

But the transaction, according to the announcement, remains subject to obtainment of regulatory approvals and satisfaction of all conditions precedent.

Due to expected sell of shares by the unnamed minority shareholder, the company has therefore advised shareholders and potential investors to be cautions when transacting in the company’s shares. “Shareholders and potential investors are advised to exercise caution when dealing in the Company’s shares until a further announcement is made,” the announcement reads in part.

Eagle Online  last year last year reported that UK’s Commonwealth Development Corporation (CDC) Group was looking for another offshore company to buy its shares in Dfcu. The company owns 9.97 per cent. CDC’s Investment Director Irina Grigorenko wrote a confidential letter to Dfcu Chairman Elly Karuhanga of CDC Group’s intention to sell some or all of its shares.

Grigorenko, said then that CDC Group was “undertaking a review of its investment in DFCU Limited which may lead to the disposal or some of some or all of its shares in DFCU over the short to medium term.”

When asked, analysts said it is normal for shareholders to sell their shares within or get buyers from outside when they think it is the right time to exit. However, he hastened to add that some shareholders exit when they anticipate that the company’s business in future might not be profitable at the level they want it.

However, the latest announcement that a significant minority shareholder wants to exit Dfcu comes at the time when Dfcu is facing challenges following the controversial acquisition of Crane Bank Limited (CBL) in January 2017. Dfcu is the holding company of Dfcu Bank which bought CBL as offered to it by the Bank of Uganda (BoU).

Recently Dfcu bank realised that it could not take up freehold properties of Meera Investments Limited which had been leased to defunct CBL. Dfcu now wants BoU to compensate it for the loss of the properties it values at Shs47 billion even though it is understood it valued the same properties at Sh10 billion when it took over CBL an estimated Shs200 billion.

Key shareholders in dfcu

DFCU Shareholding percentages

  1. Arise BV 58.71 per cent
  2. CDC Group of the United Kingdom 9.97 per cent
  3. National Social Security Fund (Uganda) 7.69 per cent
  4. Kimberlite Frontier Africa Naster Fund 6.15 per cent
  5. 2 undisclosed Institutional Investors 3.22 per cent
  6. SSB-Conrad N. Hilton Foundation 0.98 per cent
  7. Vanderbilt University 0.87 per cent
  8. Blakeney Management 0.63 per cent
  9. Retail investors 11.19 per cent
  10. BoU staff retirement benefit scheme is 0.59 per cent
Stories Continues after ad

Uganda to face Tanzania in Cecafa Senior Challenge Cup semifinals

By
Our Reporter
-
watambala (19) in action against Djibouti

Uganda Cranes humbled Djibouti 4-1 in their last Group A match at the on-going CECAFA Senior Challenge Cup in Kampala.

The Cranes kept their unbeaten record to set up a semifinal clash against the Tanzania Taifa Stars who finished second in Group B.

Midfielder Muzamiru Mutyaba gave the home side the lead after 14 minutes from a penalty after a handball in the box by a defender. The Djibouti team responded well and defended well till half time.

In the second half Uganda Cranes pushed forward to score more goals through Joackim Ojera and substitutes Ben Ocen and Bright Anukani. Haroun Mohamed scored the lone goal for Djibouti.

Uganda topped Group A with 12 points beating Burundi 2-1, Somalia 2-0 and Eritrea 2-0 in the previous matches.

In the earlier Group A match played at the StarTimes Stadium, Eritrea settled for a goalless draw against a Somalia. The draw was enough to see Eritrea qualify for their first CECAFA Senior Challenge Cup semi since 1994.

On Tuesday the first semifinal match will feature Kenya against Eritrea, while Uganda battles Tanzania in the second game.

The play-off to determine who finishes third and the final will be played on December 19th.

2019 Cecafa Senior Challenge Cup Semi-finals

Tuesday, 17th December

Kenya Vs Eritrea – 1 PM

Uganda Vs Tanzania – 3:45 PM

*Both Matches at Star Times Stadium, Lugogo, Kampala

Stories Continues after ad

Women are better than men – Obama

By
Agencies
-
Barack Obama

If women ran every country in the world there would be a general improvement in living standards and outcomes, former US President Barack Obama has said.

Speaking in Singapore, he said women aren’t perfect, but are “indisputably better” than men.

He said most of the problems in the world came from old people, mostly men, holding onto positions of power.

He also spoke about political polarisation and the use of social media to spread falsehoods.

Speaking at a private event on leadership, Mr Obama said while in office he had mused what a world run by women would look like.

“Now women, I just want you to know; you are not perfect, but what I can say pretty indisputably is that you’re better than us [men].

“I’m absolutely confident that for two years if every nation on earth was run by women, you would see a significant improvement across the board on just about everything… living standards and outcomes.”

When asked if he would ever consider going back into political leadership, he said he believed in leaders stepping aside when the time came.

“If you look at the world and look at the problems it’s usually old people, usually old men, not getting out of the way,” he said.

“It is important for political leaders to try and remind themselves that you are there to do a job, but you are not there for life, you are not there to prop up your own sense of self importance on your own power.”

Mr Obama served as US president from 2009 until 2017.

Since leaving the White House, he and former first lady Michelle Obama have set up a foundation mentoring young leaders around the world.

The pair were in Kuala Lumpur last week for an Obama Foundation event.

Stories Continues after ad

Imported for my body: Kenyan woman exposes sex traffic network in India

By
Agencies
-
Commercial sex worker waiting for clients

BBC Africa Eye has uncovered a network that traffics women to India as sex workers for African men.  This investigation features the story of a Kenyan woman called Grace who goes undercover to expose the people involved in the sex trade. She is one of the many young women who are trafficked from Africa to India. Grace responded to an advertisement for dancers and hostesses in a WhatsApp group.

When Grace arrived in New Delhi she was taken to a brothel where she realised that her dream was about to turn into a nightmare. Her passport was confiscated and in order to regain her freedom, she was asked to pay off a grossly inflated fee for the facilitation of her travel to India. This happens to many women like Grace- these debts can range from $3700 to $5800.

Women are forced to have sex with strangers to pay off their debt  before they are freed.  Even when they repay their so called ‘debt’  many  find themselves trapped:  living illegally in India, many have no choice but to continue to work in the sex industry.

Every night, gatherings are held across New Delhi.  Scores of women parade themselves in front of men, who mingle and chat while being served drinks and African food in underground bars.  The women are from East and West Africa. The men are African and can choose the women they like and take them to their homes, an alley, or a brothel, to have sex.   These meeting places – are illegal clubs known as “kitchens”.

In this web of corruption and deceit, most trafficked women are still trapped after they have made the payments demanded of them. Their visas have expired and they end up as illegal immigrants.  Many of the trafficked women either become a Madam forcing women in to sex work or continue to be a sex worker themselves

Grace takes us to the place she spent six months paying her ‘debt’ exposing the people that brought her over to India.  Caught up in a vicious cycle of alcohol and sex, she is left wondering if there will be an end to her nightmare. “I don’t want anybody else to go through what I had to endure. I want this to stop, she says.”

BBC Africa Eye is BBC Africa’s award winning investigations unit. They make investigative documentaries for the BBC World service, creating content for TV and Online. Africa Eye provides in-depth reporting that holds power to account and tackles topics that are of interest and concern to audiences across Africa and beyond.

Stories Continues after ad

Aleph Hospitality opens Best Western Plus Westlands in Nairobi

By
Our Reporter
-
Hotel Best Western Plus Westlands, Nairobi

Dubai-based independent hotel management company Aleph Hospitality has opened the Best Western Plus Westlands hotel in Nairobi, Kenya.

The new opening, which introduces the Best Western Plus brand to one of the city’s most sought-after commercial districts, marks Aleph Hospitality’s continued expansion in Kenya, where the company has already signed management contracts for three hotels currently under development: the Protea Hotel by Marriott in Kisumu; an airport hotel in Nairobi and a property in the popular coastal resort of Mombasa.

Bani Haddad, Managing Director, Aleph Hospitality, said: “The opening of Best Western Plus Westlands signals our commitment to Kenya, the third-largest tourism economy in Sub-Saharan Africa.

“Kenya is a popular destination in the heart of the region and its travel and tourism industry grew 5.6% in 2018, exceeding global and regional levels, according to the WTTC. We are proud to be part of this growth and to support the economy with more than 80 new jobs and the generation of additional international visitors that Best Western Plus Westlands will bring,” said Haddad.

The hotel’s owner, Amit Lukka, commented: “We are thrilled to find a partner in Aleph Hospitality that supports both our vision for Nairobi’s hospitality sector and our country’s wider efforts to market Kenya as a destination of choice.

“Aleph Hospitality is a trusted and accomplished partner that will manage the hotel on our behalf, driving maximum return on our investment as well as delivering a superior guest experience in collaboration with the prestigious global chain, Best Western. The opening on 14 December was highly anticipated by our colleagues, guests, neighbouring businesses and local dignitaries,” added Lukka.

Best Western Plus Westlands is located in the heart of Nairobi’s social and entertainment hub, the vibrant Westlands district, home to shops, restaurants and numerous corporate headquarters, making it a popular destination for Kenyans, expatriates and visitors.

Nairobi’s top attractions including the neighbouring Sarit Expo Centre, Nairobi National Park, David Sheldrick Wildlife Trust and the Kenyatta International Conference Centre are also within close reach, making the hotel ideally positioned for both business and leisure travel.

The new, purpose-built hotel features 101 stylish, air-conditioned guest rooms, including spacious Junior Suites with separate living rooms and kitchenettes and a luxurious Penthouse Suite with a private outdoor hot tub.

Best Western Plus Westlands offers free WiFi, a dedicated meetings floor, a gym and two food and beverage outlets – Craft, an all-day-dining restaurant, bar and coffee shop, and Asiatic, a stylish rooftop bar and lounge.

Suzi Yoder, Senior Vice President, International Operations, BWH Hotel Group, said: “We are truly delighted with the addition of the Best Western Plus Westlands, a beautiful new build hotel created with our guests’ needs in mind. The central location is superb for both our corporate clients and leisure travellers and we are proud to now welcome our first guests.”

Aleph Hospitality, which has earmarked a pipeline of 35 hotels in the Middle East and Africa by 2025, manages hotels directly for owners, either on a franchise basis for branded properties or as a white label operator for independently-branded hotels.

The company operates four hotels in Africa, with six new openings already slated for 2020.

Stories Continues after ad

Museveni reshuffles cabinet, drops Muloni, Nadduli as Magyezi eats big

By
Isaiah Mwebaze
-
Energy minister Eng. Irene Muloni

 

President Yoweri Musevni has reshuffled his cabinet and dropped Ministers, Irene Muloni,of Energy, Abdul Nadduli of Without Portfolio among others.

New entrants include former police publicist, judth Nabakooba who replace Frank Tumwebaze as ICT Minister, Raphael Magyezi who championed the removal of age limit.

Museveni also named his former Principal Pritave Secretary Molly Kamukama as State Minister for Economic Monitor. Ms Kamukama was replaced by National Resistance Movement party deputy treasurer, Dr. Kenneth Omona.

 Below is the list

In Exercise of the Powers vested in the President by Articles 99(1), 108(2), 108A(1), 113(1) and 114(1) of the 1995 Constitution of the Republic of Uganda, President Yoweri Kaguta Museveni has, in pursuance of the goals of the NRM and Ugandans in general, made minor changes to the Cabinet.

He has appointed persons listed below as Vice President, Prime Minister, Cabinet Ministers, Ministers of State and Senior Presidential Advisors:

1. H.E. the Vice President ─ HON. KIWANUKA
EDWARD SSEKANDI;

2. Rt. Hon. Prime Minister ─ DR. RUHAKANA
RUGUNDA;

3. 1stDeputy Prime Minister ─ GEN. MOSES ALI;
& Deputy Leader of Gov’t
Business in Parliament

4. 2nd Deputy Prime Minister and ─ HON. KIRUNDA
Minister without Port-folio KIVEJINJA;

5. Minister of Education and ─ HON. MUSEVENI
Sports JANET KATAAHA;

6. Minister of the Presidency ─ HON. MBAYO ESTHER
MBULAKUBUZA;

7. Minister in Charge of ─ HON. BUSINGYE
General Duties/Office of MARY KAROORO
The Prime Minister OKURUT;

8. Minister of Disaster
Preparedness &
Refugees ─ HON. ONEK HILARY;

9. Government Chief Whip ─ HON. NANKABIRWA
SENTAMU RUTH;

10. Minister of East African Affairs ─ MAJ. GEN.KAHINDA
OTAFIIRE;

11. Minister of Security ─ HON.GEN. ELLY
TUMWINE;

12. Minister of Defence and ─ HON. MWESIGE
Veteran Affairs ADOLF;

13. Minister of Foreign ─ HON. KUTESA
Affairs KAHAMBA SAM;

14. Minister of Internal Affairs ─ GEN. JEJE ODONGO;

15. Minister of Trade, ─ HON. KYAMBADDE
Industry& Cooperatives AMELIA ANNE;

16. Minister of Finance and
Economic Planning ─ HON. KASAIJA MATIA;

17. Minister of Energy and
Minerals ─ HON. KITUTU MARY;

18. Minister of Tourism,
Wildlife & Antiquities ─ HON. BUTIME TOM;

19. Minister of Local ─ HON. RAFAEL MAGYEZI;
Government

20. Minister of Works and ─ GEN. KATUMBA
Transport WAMALA;

21. Minister of Lands,
Housing & Urban ─ HON. KAMYA BETTY;
Development

22. Minister for Kampala and ─ HON. AMONGI BETTY;
Metropolitan Affairs

23. Minister of Health ─ DR. ACENG JANE;
24. Minister of Public Service ─ HON. MURULI
MUKASA;

25. Minister of Justice ─ HON. KAMUNTU
& Constitutional Affairs EPHRAIM;

26. Attorney General ─ MR. BYARUHANGA
WILLIAM (ADVOCATE);

27. Minister of Water & ─ HON. CHEPTORIS
Environment SAM;

28. Minister for Karamoja Affairs ─ HON. BYABAGAMBI
JOHN;

29. Minister for Science, ─ DR. TUMWESIGYE
Technology and Innovation ELIODA;

30. Minister of Gender, Labour ─ HON. TUMWEBAZE
& Social Affairs FRANK;

31. Minister of Information, ICT ─ HON. NABAKOOBA
&Communications JUDITH;

32. Minister of Agriculture, ─ HON. SSEMPIJJA
Animal Industry & VINCENT
Fisheries BAMULANGAKI.
MINISTERS OF STATE:

Office of the President:

1. Minister of State for ─ HON. LOKODO
Ethics and Integrity SIMON;

2. Minister of State for ─ MRS. KAMUKAMA NAWE
Economic Monitoring MOLLY;

Office of the Vice President:

3. Minister of State ─ HON. KASIRIVU
Vice President’s Office BALTAZAH ATWOKI;

Office of the Prime Minister:

4. Minister of State for
Relief and Disaster ─ HON. ECWERU
Preparedness MUSA FRANCIS;

5. Minister of State for ─ HON. KIZIGE MOSES;
Karamoja

6. Minister of State for
Bunyoro Affairs ─ HON. KIIZA ERNEST;

7. Minister of State ─ HON. GALABUZI
for Luwero Triangle-Rwenzori DENNIS SSOZI;

8. Minister of State for ─ HON. KWIYUUCWINY
Northern Uganda GRACE;

9. Minister of State for ─ HON. AKIROR AGNES;
Teso Affairs

Ministry of Educationand Sports

10. Minister of State for Higher ─ DR. MUYINGO JOHN
Education CHRYSOSTOM;

11. Minister of State for ─ HON. NANSUBUGA
Primary Education, ROSEMARY SENINDE;

12. Minister of State for Sports ─ HON. OBUA DENIS
HAMSON;

Ministry of East African Affairs

13. Minister of State for ─ HON. MAGANDA
East African Affairs JULIUS WANDERA;

Ministry of Defence and Veteran Affairs

14. Minister of State for
Defence ─ COL. ENGOLA OKELLO;

15. Minister of State for ─ HON. KIBAZANGA
Veteran Affairs CHRISTOPHER;

Ministry of Foreign Affairs:

16. Minister of State for ─ HON. ORYEM
International Affairs OKELLO;

17. Minister of State for ─ DR. MATEKE
Regional Affairs PHELEMON;

Ministry of Internal Affairs

18. Minister of State for
Internal Affairs ─ HON. OBIGA KANIA;

Ministry of Trade and Industry and Cooperatives:

19. Minister of State for ─ HON. KAFABUSA
Trade WERIKHE MICHEAL;

20. Minister of State for ─ HON. GUME
Cooperatives FREDRICK NGOBI;

Ministry of Finance, Planning & Economic Development:

21. Minister of State for Finance ─ HON. AJEDRA
(General) GABRIEL GADISON;
ARIDRU;

22. Minister of State for Planning ─ HON. BAHATI DAVID;

23. Minister of State for ─ HON. ANITE EVELYN;
Privatization and Investment

24. Minister of State for Micro- ─ HON. KYEYUNE
Finance HARUNA KASOLO;

Ministry of Energy and Mineral Development:

25. Minister of State for Minerals ─ HON. ACHIENG SARAH
OPENDI;

26. Minister of State for Energy ─ HON. D’UJANGA
SIMON;

Ministry of Tourism, Wildlife and Antiquities:

27. Minister of State for ─ HON. KIWANDA
Tourism GODFREY;

Ministry of Local Government

28. Minister of State for ─ HON. NAMUYANGU
Local Government JENNIFFER;

Ministry of Works and Transport:

29. Minister of State for ─ HON. LOKERIS
Works AIMAT PETER;

30. Minister of State for ─ MRS. KABATSI JOY;
Transport

Ministry of Lands, Housing and Urban Development:

31. Minister of State for ─ HON. MUSUMBA
Urban Development ISAAC;

32. Minister of State for ─ HON. NAMUGANZA
Lands PERSIS;

33. Minister of State for ─ DR. BARYOMUNSI
Housing CHRIS;

Ministry of Kampala and Metropolitan Affairs:

34. Kampala Capital City ─ HON. NAMUGWANYA
Authority BENNA;

Ministry of Health:

35. Minister of State for ─ HON. NABBANJA
Health (General) ROBINAH;

36. Minister of State for ─ DR. MORIKU JOYCE
Primary Health Care KADUCU;

Ministry of Public Service:

37. Minister of State for ─ HON. KARUBANGA
Public Service DAVID;

Ministry of Justice and Constitutional Affairs:

38. Deputy Attorney General ─ MR. KAFUUZI
JACKSON;

Ministry of Water and Environment:

39. Minister of State for Water ─ HON. KIBUULE
RONALD;

40. Minister of State for ─ HON. ANYWAR
Environment BEATRICE ATIM;

Ministry of ICT

41. Minister of State for ICT and ─ HON. OGWANG PETER;
Communications

Ministry of Gender, Labour and Social Development:

42. Minister of State for Youth and ─ MRS. NAKIWALA
Children Affairs FLORENCE KIYINGI;

43. Minister of State for Gender ─ MS. MUTUUZO
and Culture PEACE;

44. Minister of State for Labour,
Employment and Industrial ─ HON. MWESIGWA
Relations RUKUTANA;

45. Minister of State for the Elderly ⎼
and Disability

Ministry of Agriculture, Animal Husbandry and Fisheries

46. Minister of State for ─ HON. BAGIIRE
Agriculture AGGREY;

47. Minister of State for Animal ─ HON. RWAMIRAMA
and Veterinary Affairs BRIGHT;

48. Minister of State for Fisheries ─ MS. ADOA HELLEN.

SENIOR PRESIDENTIAL ADVISORS:

1. HON. MUKWAYA JANAT

2. HAJJI NADDULI ABDUL

3. HON. MULONI IRENE

4. HON. NTEGE AZUBA

5. HON. ONZIMA ALEX

PRINCIPAL PRIVATE SECRETARY:

DR. OMONA KENNETH

SIGNED this …………………..day of ………, in the Year of our Lord Two Thousand Nineteen.

Yoweri Kaguta Museveni
PRESIDENT OF THE REPUBLIC OF UGANDA

Stories Continues after ad

DStv rewards first winners in Xmas bonanza

By
Our Reporter
-
Winners with their gifts

 

DStv announced the first winners in festive bonanza, DStv Tweyanziza for its customers who are paying their subscription on time.

Speaking at the announcement of the winners, Sauya Nakiyaga, Head of Customer Retention said, “At DStv, we are excited to be rewarding our pay on time customers this festive season. Pay on time customers are those customers who pay for their subscriptions before they are disconnected.”

The festive bonanza, which will see 50 winners per week, rewarded a grand total of 200 winners in the month of December is part of an initiative by DStv to deepen its connection to its customers.

The DStv Tweyanziza campaign will be handing over gifts and prizes from Café Javas, Soothing Spot Spa, Positive Emotions, Sparkles Saloon, Aristoc Booklex and Gift Hampers. The campaign will also award winners with DStv Premium subscriptions.

Stories Continues after ad

UPDF General slams Gen. Tumwine over Lt. Gen. Angina:  “He was under the influence of Kirumira and he acts before he thinks”

By
Richard Wanambwa
-
Former Security Minister Gen. Elly Tumwine.

Following a verbal attack by Security Minister, Gen. Elly Tumwine on his junior Lt. Gen. Charles Angina in public, over the latter’s involvement in a land wrangle between businessman Godfrey Kirumira and his neighbour, a historic UPDF General has come out to blame Gen. Tumwine saying that he acts before he thinks and that he was under the influence Kirumira, a civilian.

“He, Tumwine should have listened to Angina. Anyway, he was under the influence of Kirumira and you know very well that Tumwine acts before he thinks. How could he say ‘our army’ when the officer you are demeaning is a former deputy CDF?” The General said.

The General, who also happens to be a minister in President’s Museveni’s Cabinet, when asked about Gen. Tumwine’s mistreatment of the former deputy Chief of Defence Forces Angina, said that Gen. Tumwine should have raised the issue of Angina with the UPDF High Command, but not shouting at a commissioned officer in public like he did, adding that such behaviour exhibited by Gen. Tumwine is unpleasant to the UPDF.

“From the approach, it should not have been there because both Lt. Gen. Charles Angina and Gen. Elly Tumwine are senior officers but the way Tumwine conducted it, it was uncalled for,” the concerned General said. “If he had summoned Gen. Angina aside and Angina refused that could have explained the reprimand but it is an unfortunate incident,” he added.

Asked how the UPDF High Command and the Commander in Chief who is President Yoweri Museveni would handle the case, the General said, “I would love to see how the Commander In Chief will handle. How can you just shout at a former Deputy Chief of Defence Forces as if you shouting at a child but even a child deserves respect?”

Currently Angina is the deputy Coordinator of Operation Wealth Creation (OWC), a poverty eradication campaign which is headed by Museveni’s brother Gen. Caleb Akandwanaho aka Salim Saleh and he is one of the UPDF senior officers that are slated to steer the force as its historical retire.

Gen. Tumwine’s attack on Angina has not been received well in his homeland of Teso. an NRM stronghold and was instrumental in the fight against Joseph Kony’s Lord’s Resistance Armey (LRA) as the region’s politicians like flight Capt. Mike Mukula and Musa Ecweru formed the famous Arrow Boys who alongside, the UPDF chased Joseph Kony and his men from the region.

Capt. Mukula, a prominent politician from the region and a diehard of the NRM who doubles as Eastern Region chairman for the ruling National Resistance Movement (NRM) party when asked about the incident, said Tumwine was wrong to attack Gen. Angina in the way he did. “It was not properly done. The UPDF is now a mature army. It has systems. Nobody can abuse an army anymore. And therefore, someone saying that they are using the army is not true.”

He went on to say: “UPDF is a disciplined army. It has a standing framework and if someone is found to be undisciplined why not summon him? The decorum of a person of Angina who rose to a level of a General has attained a status. Call that person in private or summon him in UPDF structures.”

Mukula said senior officers of UPDF with the characters akin to Tumwine’s should learn from Museveni who he said is the founder of UPDF. “They should learn from the founder of UPDF who is none other than Gen. Yoweri Kaguta Museveni. He has never reprimanded an officer in public. He has worked with opponents; from Aggrey Awori, Moses Ali and Ali Bamwoze. However, it is an individual mistake and he, Tumwine, should carry his cross but he should not attribute it to UPDF.”

An opposition politician Eagle Online talked to about Tumwine’s attack on Angina said: “General Tumwine thinks he is the powerful UPDF officer. He should know that man rises and man falls. His time to fall is not far from now. Ask those who behaved that way in the past regimes. Where are they?”

Gen. Tumwine prides himself for being the NRA soldier who first fired a bullet when they attacked Kabamba Barracks in Mubende in hunt for guns. It is said Gen. Museveni wanted to reprimand him as it was supposed to be an undercover mission.

Gen. Tumwine has been accused in the past for drawing a pistol towards Deputy Speaker of Parliament Jacob Oulanyah while the latter was still in opposition political UPC. He is alleged to have done the same to Dokolo Woman Member of Parliament Cecilia Ogwal.

His fellow minister Sarah Opendi recently referred to Gen. Tumwine as a “bully” as she appeared before the disciplinary committee of parliament to give evidence against Tumwine over his behaviour.

Tumwine has always reminded Ugandans that he and other senior officers went to bush to fight so-called bad governments and tat therefore, they deserve recognition and respect.

The General is said to be holding on Nomm Gallery, a government owned property, despite calls to vacate it. It is said government demands him over Shs30 billion for occupying that facility for years.

The Nommo Gallery was founded and established in 1964 by the 1959 Act of Parliament, and is Uganda’s National Art Gallery and a component of the Uganda National Cultural Centre (UNCC). The Nommo Gallery is supposed to feature exhibitions of works of art by both Ugandan and foreign artists.

Eagle Online could not reach UPDF Spokesperson Brig. Richard Karemire for a comment as his known cellphone numbers were switched off.

Stories Continues after ad

10 ways owners often jeopardize their business growth

By
Guest Writer
-
Martin Zwilling

 

By Martin Zwilling

When you are starting a new business, every resource is precious, including time, funding, and people. Yet we can all look back, after the fact, and realize that we could have been more memorable. Obviously you can’t go back for a do-over, but you can certainly learn from your mistakes as well as all our successes. Most challenges you have are not unique to your business.

In the interests of helping you work smarter and last longer, I would like to offer my top ten list of key resource drains to avoid in early businesses and startups, based on my years of advising entrepreneurs and my own business experience:

Expanding your product line too quickly for scaling. It’s always tempting to think that more product variations will satisfy more customers and lead to new sales. The problem is that more SKUs dramatically increases complexity and cost, when you can least afford it. My advice is to focus and sell more of what you do best, rather than adding new things.

Buy too much inventory too soon to get unit costs down. Inventory is a balancing act, but I see too much inventory much more often than too little. Unit costs are important, but don’t forget about the cash flow hit, extra storage costs, and the probability of obsolete inventory due to necessary updates or pivots. Use multiple small orders at first.

Lack of attention to team and process productivity. Some chaos is normal in every new business, but many wait far too long before they install metrics based on “best practices,” and fail to attack obvious bottlenecks with a vengeance. You may be the main problem, insisting on making every decision, and hiring cheap helpers rather than help.

Poor communication and visibility from the top. As the business operation and the team grows, regular and effective communication from key personnel is critical. New businesses often burn excessive resources working on the wrong things, or doing things the wrong way. Daily updates from the top and documented processes are critical.

People with the wrong tools or no training. As your business starts to scale, you can’t do everything manually anymore. Make sure people have the right tools, and know how to use them, for accounting, inventory tracking, and planning. Too often I see businesses of some size still using spreadsheets for inventory, or post-it notes for problem tracking.

Measuring time worked rather than business results. It’s no secret that some people are more productive than others, due to skills, training, or commitment. We all know team members who work long hours, but are short on measurable output. Be sure to attach employee bonuses and even overtime opportunities to measurable business results.

Ineffective and expensive marketing campaigns. The most cost-effective marketing approaches have changed; from catalogs to web sites, and from television commercials to social media. Yet I still see expense budgets based on traditional channels, with no strict metrics on cost of customer acquisition by channel, or lifetime customer value.

Excessive support and return activities. Support-intensive products and high return rates can sink even the best run business. Support costs and return rates need to be regularly benchmarked against industry norms, and aggressive root cause analysis done to isolate the problem. Excessive resources required in this area are rarely recognized.

Outsourcing services that could be done in-house. There is always a need for highly skilled or capital-intensive services, such as legal and manufacturing that should be outsourced. But I often see premiums being paid for social media monitoring, standard accounting, and facilities mgmt. Outsourcing is an expensive solution for poor planning.

Inadequate focus on hiring and people development. Where hiring seems to always be associated with a crisis, I rarely see an adequate assessment of candidate skills, culture, and future potential. This results in time and money lost due to high turnover, low productivity, and skill mismatches. Make employee management a proactive process.

In reality, there are an infinite number of ways to jeopardize the future of your business, but these are common ones I see that are often invisible to the business owner or founder. We all know that small businesses mush operate without a cushion, so unrecognized waste can easily lead to death.

In this age of new technology and new learning, you need to constantly be on the lookout for new tools and data to optimize your business. How much time have you spent recently working on the business, rather than in it?

The Writer is a veteran startup mentor, executive, blogger, author, tech professional, professor, and investor. Published on Forbes, Entrepreneur, Inc, Huffington Post, etc.

 

 

Stories Continues after ad

Court sentences Chicken Tonight security guard for assaulting local musician Angela Katatumba

By
Geoffery Serugo
-
Angela Katatumba

The Chief Magistrate’s Court in Makindye has sentenced Chicken Tonight security guard, Okirot Denis to one and a half years in jail for assaulting local musician Angela Katatumba and the visiting Jamaican artiste commonly known as Kuzi Kz.

The ruling was made by Magistrate, Allan Gakyaro after Prosecution proved that at Chicken Tonight, Denis unlawfully caused grievance harm and robbed her Shs6 million in April 2018.

Prosecution avers that in April 2018, the Celebrity singer Angela Katatumba, daughter to deceased real estate tycoon Boney Katatumba, involved in a brawl with Kabalagala Chicken Tonight staff and sustained bruises. The standoff is alluded to Chicken Tonight staff who served Ms. Katatumba and her guest with s ‘wrong’ sauce.

According to CCTV camera footage, Ms Katatumba is seen haggling with KFC staff identified as Manager Olubrwoth Ochoka, watchman Dennis Okirot and John Kaddu, a waiter.

The three were later nabbed and leveled with charges of assault and theft and remanded to Luzira prison.

Stories Continues after ad
1...1,0761,0771,078...2,374Page 1,077 of 2,374

© Eagle Online. All rights reserved.

About Us

Popular Category

Editor Picks