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Changes at Tullow Oil as company plans next move in Uganda farm-down talks

By
Geoffery Serugo
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Martin Greenslade

As Tullow Oil plc ponders the next move in Uganda regarding failed talks on its farm-down tax negotiations, it has announced the appointment an experienced executive in the names of Martin Greenslade who will serve as a non-executive director with effective November 1, 2019.

Martin has also been appointed as a member of the Audit Committee and will stand for election to the Board at the 2020 Annual General Meeting (AGM).

Meanwhile, Steve Lucas, non-executive Director, will step down from the Board following the conclusion of the Group’s 2020 AGM, after eight years with Tullow. At the same time, Martin Greenslade will be appointed Chair of the Audit Committee.

Martin brings extensive financial experience to Tullow from his current position as Chief Financial Officer and member of the Board of Land Securities Group plc which he has held since 2005. Martin, a qualified accountant, also brings multi-sector experience to the Group from senior positions held in real estate, financial services, defence and manufacturing. He is currently a Trustee of International Justice Mission UK and was Group Finance Director of Alvis plc from 2000-2005.

“I am delighted to welcome Martin to the Board of Tullow, where he will bring important insight and diversity of thought from both his current position as Chief Financial Officer of Land Securities and his extensive experience from other sectors.  His timely appointment will allow for a suitable handover of Audit Committee responsibilities ahead of Steve Lucas stepping down in April next year.” Dorothy Thompson, chair of Tullow oil plc

According to directors’ declarations pursuant, there are no further disclosures required under Rule 9.6.13R of the Listing Rules of the UKLA and 6.6.7 of the Listing Rules of the Irish Stock Exchange in respect of the appointment of Martin Greenslade.

On August 29, 2019, Tullow Oil announced the termination of its farm-down to Total and CNOOC, following the expiry of the Sale and Purchase Agreements (SPAs).

The termination of this transaction was a result of Tullow Oil being unable to agree all aspects of the tax treatment of the transaction with the Government of Uganda which was a condition to completing the SPAs.

While Tullow’s capital gains tax position had been agreed as per the Group’s disclosure in its 2018 Full Year Results, the Ugandan Revenue Authority and the Joint Venture Partners could not agree on the availability of tax relief for the consideration to be paid by Total and CNOOC as buyers.

Tullow now plans to initiate a new sales process to reduce its 33.33% Operated stake in the Lake Albert project which has over 1.5 billion barrels of discovered recoverable resources and is expected to produce over 230,000 bopd at peak production. The Joint Venture Partners had been targeting a Final Investment Decision for the Uganda development by the end of 2019, but the termination of this transaction is likely to lead to further delay.

Announcing the collapse of talks in August Paul McDade, chief executive officer, commented then that: “Tullow has worked tirelessly over the last two and a half years to complete this farm down which was structured to re-invest the proceeds in Uganda. Whilst this is a very attractive low-cost development project, we remain committed to reducing our operated equity stake. It is disappointing to report this news at a time when we are making so much progress elsewhere towards the growth of the Group with our recent oil discovery in Guyana and the first export of oil from Kenya.”

The termination of tax talks created anxiety among many stakeholders including the media, civil society organizations, business community and the general as Tullow (Tullow Uganda Operations Pty Limited and Tullow Uganda Limited) was farming down some of its interests to Total E&P Uganda B.V and CNOOC Uganda Ltd for its interests in Blocks EA1, EA1A,EA2 and EA3A. The expiry of this transaction occurred before resolution of the outstanding issue between the Government and the Partners regarding some aspects of the tax treatment of the transaction.

Uganda Revenue Authority issued Tullow with assessed of US$ 167.8 million in Capital Gains Tax (CTG) arising from the sale of US%900 million. Tullow Oil had sought to take home US$200 million in cash while the remaining US$700 million would be reinvested by Total and CNOOC, the reason why joint ventures partners the tax levied is unfair, given that they have not recovered capital costs.

The failure by both partners to agree on tax treatment of the transaction value forced the companies to delay the final investment decision (FID) that would have propelled plans for the construction of the East Africa Crude Oil Pipeline (EACOP) from Hoima in Uganda to the Port of Tanga in Tanzania.

“Government is fully aware that, the above developments affect the taking of the Final lnvestment Decisions (FID) which were expected late this year and/or next year. The FID would give way to the Engineering Procurement and Construction (EPC) phase of the projects that would be characterized by the award of contracts to providers of the required goods and services for construction of the facilities. Failure to take FID affects our obligations with the developers of the Refinery who cannot proceed with the development without certainty of crude oil availability,” Energy Minister Irene Muloni said recently.

Other projects affected by pull out of EACO are; The Tilenga Project, which includes the Central Processing Facilities, the drilling pads, flowlines located in Buliisa and Nwoya Districts and the Kingfisher Development Area (KFDA) which will include the Central Processing Facilities, the drilling pads, flowlines in Kikuube and Hoima Districts.

The impasse between government and the companies has caused anxiety amongst local subcontractors who had invested their money in anticipation that the projects would begin soon and hence get tenders for supply of goods and services.

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URA bitter as soda and water companies fleece Shs14 trn in illicit financial flows

By
Our Reporter
-

The Uganda Revenue Authority (URA), which is responsible for collecting taxes in the country, has accused local beverage companies manufacturing soda and water, of cheating government of Shs14.16 trillion in Illicit Financial Flows (IFFs) for the financial years 2016/17 and 2017/18, hence government losing the would-be tax revenue.

“According to information obtained from Uganda Manufacturing Association (UMA), the Soda and Water sector currently produces 231,379,200,000 bottles per annum,” URA Commissioner General Doris Akol says. However when computing taxes for the bottles recorded, the figures don’t add up.

“At a unit price of UGX.625 per bottle, the sectors (water & sodas) are expected to have remitted UGX.14.4 Trillion per annum but only remitted UGX 105 Billion in FY 2016/17 and UGX 135 Billion in FY 2017/18, she says.

Further, using UMA figures, Akol says the sector is currently comprised of 256 manufacturers against the 46 clients currently registered with URA.

Read full submission by Akol on the effects of IFFs

Illicit Financial Outflows (IFFs) are a major source of leakage of economic value from African economies. Illicit Financial Flows (IFFs) can be traced back to commercial activities such as tax evasion, trade mis-invoicing and abusive transfer pricing.

IFFs reduce and eliminate expected growth benefits and undermine the development potential of our economies.  The erosion of the tax base deprives our governments of the financial resources required for provision of public goods such as education, health and infrastructure.

Under the African Union Commission report of 2019, Domestic Resource Mobilization is one of the remedies to combat illicit financial outflows and these involve among other initiatives, the enhancement and improvement of existing tax systems by taking advantage of initiatives for opportunities of digitalization and increasing transparency in trade.

The manufacturing sector in Uganda is the principle provider of the goods that we consume and export.  It is the second contributor to tax revenue in Uganda and takes up 27.1% of our GDP.

Existing deficiencies in tracking and tracing the locally manufactured products has contributed to less than adequate tax receipts from the manufacturing sector as well as those importing the excisable products. For instance, according to information obtained from Uganda Manufacturing Association (UMA), the Soda and Water sector currently produces 231,379,200,000 bottles per annum. At a unit price of UGX.625 per bottle, the sectors (water & sodas) are expected to have remitted UGX.14.4Trillion per annum but only remitted UGX 105Billion in FY 2016/17 and UGX 135Billion in FY 2017/18. Further, according to UMA, the sector is currently comprised of 256 manufacturers against the 46 clients currently registered with URA.

The introduction and implementation of the Digital Tracking and Tracing Solution (DTS) commonly known as the Digital Tax Stamp will deliver transparency in the outputs of the manufacturing process from industrial production lines and the tracking and tracing of manufactured products.

This transparency is key in not only curbing illicit trade in substandard goods, boosting our trade balances by tracing exported products as originating from Uganda but also contributes to accuracy of tax receipts from the manufacturing sector through accurate declarations of excise duty from excisable products.

The DTS will help identify and enforce on the non-compliant manufacturers. To this end therefore, the introduction and implementation of the Digital Tracking and Tracing Solution is also critical in protecting legitimate local manufacturers against the trade in illicit and counterfeit products. In levelling the playing ground, it greatly facilitates inter and intra national and regional trade of Ugandan products.

With the introduction and going live of the Digital Tracking and Tracing Solution, Uganda scores a huge milestone of curbing the illicit financial outflows from the tax evasion from this considerable segment of our GDP, thus enhancing our Domestic Resource Mobilization effort.

We thank the entities in the manufacturing sector that have been supportive in adopting this trade and revenue enhancing initiative for the good of all Ugandans.

Uganda Revenue Authority remains committed to supporting all our stakeholders and ensuring the success of this initiative as we continue Developing Uganda Together.

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African countries endorse cross-border collaboration on Ebola outbreak preparedness and response

By
Geoffery Serugo
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Delegates pose for photo

The Democratic Republic of the Congo (DRC) and its nine neighboring countries, during a meeting of ministers, senior health and immigration officials and partners in Goma, endorsed a joint framework to strengthen cross-border collaboration on preparedness and response to Ebola virus and other disease outbreaks.

Representatives of the 10 countries of  Angola, Burundi, Central African Republic, Republic of the Congo, the Democratic Republic of the Congo, Rwanda, South Sudan, Uganda, United Republic of Tanzania and Zambia – noted with concern the Ebola outbreak in north-eastern DRC, which has continued for more than one year, and the increasing potential to spread into the neighbouring countries. They recognized the shared threat that the outbreak poses to health and economic security in the subregion and other parts of Africa and the need to develop an action plan to mitigate the effects of these threats.

“Resources are always limited, and there are always gaps in emergency contingency plans. Setting up a mechanism for cross-border collaboration and the sharing of assets will contribute to the mitigation of suffering and minimize the social and economic impact of disease outbreaks,” said Amira Elfadil Mohammed, African Union Commissioner for Social Affairs.

In her opening address, Dr Matshidiso Moeti, World Health Organization (WHO) Regional Director for Africa, emphasized that cross-border collaboration will particularly enhance information sharing on disease outbreaks and emergencies in line with the legally binding International Health Regulations (2005).

“In recent times, Ebola has been in the spotlight. Other diseases also pose a significant threat. These events highlight the immense importance of cross-border collaboration to improve the sharing and exchange of information to quickly contain outbreaks, harmonize resources, increase coordination and stop diseases from crossing the borders,” said Dr Moeti.

The movement of people, goods and services across borders can heighten the risk of transmission of infectious pathogens that cause diseases, such as Ebola, cholera, measles and yellow fever.

“As the African Union advances towards implementation of Agenda 2063, which aspires for the political and economic integration of Africa, including the free movement of people across the continent, there will be a change. We need to be prepared for the risks that this change poses to the continent. A multi-country effort on Ebola outbreak response and preparedness will be a good example of the use of our collective capabilities in this regard,” said H.E. Mohammed.

The ministerial meeting was co-organized by the Government of the DRC, WHO and the African Union Commission through its Africa Centres for Disease Control and Prevention (Africa CDC). Participants reviewed the situation of the outbreak in the DRC and level of preparedness by the 10 neighboring countries, and discussed a road map for effective and sustained collaboration.

“It is a good thing for the DRC to formalize a framework for collaboration and adopt a road map with its neighbouring countries on Ebola preparedness and response. In this way, we will be able to pull our resources together to strengthen health security and safety,” said Dr Albert Biyombo, Vice Minister of Health in the DRC.

Representatives of the Member States agreed to strengthen mechanisms for the exchange of timely and accurate information on Ebola preparedness and response and other health security risks and noted that withholding or falsifying information and data on Ebola violates the International Health Regulations and threatens peace, security and prosperity of the affected Member States and the entire continent.

“We acknowledge the solidarity that other African countries are showing today by organizing this very important meeting. The meeting will allow us to agree on communication mechanisms across borders on EVD and a common action plan on preparedness and response in case of emergencies,” said H.E. Carly Nzanzu Kasivita, Governor of North Kivu Province, where the meeting took place.

“Information sharing is improving, but we need to bring it to an acceptable level. We need countries to openly share information necessary to save lives. Our mission is to establish cross-border collaboration that will cover all outbreaks and all public health emergencies,” said Dr Moeti.

The ministers and senior health and immigration officials also endorsed the establishment of a coordination task force on EVD and other disease outbreaks, which will be hosted in the African Union Commission headquarters in Addis Ababa. The task force is expected to facilitate sustained political commitment to preparedness and response to disease outbreaks. Technical support will be facilitated through the WHO subregional Ebola partnership coordination platforms in collaboration with the Africa CDC and other partners.

Although this framework does not contain any funding commitment for emergency response and preparedness, WHO and the African Union/Africa CDC encourage countries to invest more in this area. Countries that have ramped up their preparedness are better able to handle emergencies, minimizing the social and economic costs of outbreaks and other public health events.

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Health ministry, Sex workers hold sensitisation dialogue in Kampala

By
Our Reporter
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Participants at workshop

The third annual national sex workers’ dialogue is currently ongoing at Hotel Africana in Kampala aimed at sensitising sex workers on HIV/AIDS.

Officials from the Ministry of Health are sharing strategies on HIV/AIDS prevention and are leading discussions on awareness creation about HIV/AIDS while the Uganda Police is represented by a senior officer as well.

HIV prevalence among sex workers was estimated at 37% in 2015/16. It is estimated that sex workers and their clients accounted for 18% of new HIV infections in Uganda in 2015/16.

A 2015 evidence review found between 33% and 55% of sex workers in Uganda reported inconsistent condom use in the past month, driven by the fact that clients will often pay more for sex without a condom.

Violence is common, with more than 80% of sex workers experiencing recent client-perpetrated violence and 18% experiencing intimate partner violence. More than 30% had a history of extreme war-related trauma.

The criminalisation of sex work and entrenched social stigma means sex workers often avoid accessing health services and conceal their occupation from healthcare providers. Indeed, many sex workers in Uganda consider social discrimination as a major barrier in their willingness or desire to test for HIV

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Museveni leaves for Russia-Africa Summit in Sochi

By
Geoffery Serugo
-
Museveni leaving for Russia

President Yoweri Museveni has left for the Russian Coastal city of Sochi where he is to meet other African leaders for Russia -Africa Summit aimed opening up new opportunities to overcome challenges facing the continent that has most its resources still unexploited but also characterised by high rates of corruption, leaving masses in abject poverty.

The first ever Russia African summit kicks off tomorrow Wednesday with Moscow seeking to have influence on the continent where china and the west have a great influence in as far as investment is concerned.

Accompanied by his daughter Patience Museveni, the president was seen off at Entebbe International Airport by Minister for Presidency, Esther Mbayo, Head of Civil Service John Mitala, Commander Air Force Major General James Lutaaya and Commissioner for Prisons, Johnson Byabasheija.

As African Union’s strategic framework Agenda 2063 highlights the importance of preserving African values and Pan-Africanism, the discussion by participants will outline the most pressing issues that dictate the future of Africa and discuss possible solutions.

In addition, another important topic in the session participants’ speeches will be Russian assistance to African countries in drafting a development strategy, including in matters concerning the preservation of sovereignty and the right to take independent decisions.

One of the sessions of the Russia–Africa Economic Forum’s business programme will focus on ways for Russia and African countries to develop cooperation in the energy sector. Participants will discuss how to utilize international partnerships to create a competitive landscape and increase efficiency as well as how the ‘green agenda’ will impact the development and diversification of investors as a guarantee for ongoing development.

In the process of strengthening economic ties, Russia and other partners must take into account the whole range of new trends in African development.

Business opportunities in Africa will be the front and centre at the upcoming Economic Forum. The event will include a plenary session, a series of round tables and panel discussions, and the organization of a major venue for business meetings.

Russia’s President Vladimir Putin has said his country can help Africa tackle its challenges without the conditions attached by Western powers.

“We see how an array of Western countries are resorting to pressure, intimidation and blackmail of sovereign African governments,” Mr Putin said in an interview with Tass news agency, ahead of a summit with African leaders.

“They are using such methods to try to return lost influence and dominance in their former colonies in a new guise and rushing to pump out maximum profits and to exploit the continent,” he said.

Russia is expecting to host 47 African leaders at the 23-24 October summit in the Black Sea resort of Sochi.

Mr Putin said relations with Africa had improved, pointing to military cooperation agreements that Russia currently has with more than 30 African countries which it supplies arms to.

Rwanda is among countries that have deepened relations with Russia.

The technology will be used in the agriculture, energy production and environment protection, the report says.

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Kenya finally legalises polygamy, criminalises homosexuality as Kenyatta signs law

By
Agencies
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Kenyan President Kenyatta signing document

Kenya’s President, Uhuru Kenyatta, has signed into law, a marriage bill which legalises polygamy and criminalises homosexuality in that country.

The new law that went into effect in Kenya this week makes it legal for a man to marry as many women as he wants.

President Kenyatta signed the polygamy measure into law Tuesday, formally recognising what has long been a cultural practice in the nation.

The Kenyan Parliament passed the bill in March despite protests from female lawmakers who angrily stormed out of the late-night session at the time.

The bill initially allowed the first wife the right to veto the husband’s choice of additional spouses. Male members of parliament successfully pushed to get that clause dropped.

“Marriage is the voluntary union of a man and a woman whether in a monogamous or polygamous union…. It is time for Africa to recognize that we cannot continue to promote the culture of others over ours,” the President said in his address.

No limit on number of wives

The law legalizes polygamous unions, but does not provide an official limit on the number of wives a man can have.

The Federation of Women Lawyers, a powerful women’s rights group, applauded aspects of the bill and criticized others.

Polygamy already is a common fixture among many cultures in Kenya and in some other African countries.

The bill, the group said, is long overdue because polygamous unions were previously not regarded as equal to regular marriages.

“We are happy with the law because finally all marriages are being treated equally,” said Christine Ochieng, executive director of the nation’s Federation of Women Lawyers.

“All marriages will be issued with marriage certificates, including customary marriages. Before this, customary marriages were treated as inferior with no marriage certificates. This opened up suffering for the women because they could not legally prove they were married to a particular man.”

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Museveni advises dairy farmers to research on milk prices on international market

By
George Mangula
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President Museveni

President Yoweri Museveni has advised dairy farmers in Uganda’s cattle corridor to do research on the prices of milk on the international market before they can set a collective price of milk in the country.

While meeting dairy farmers from the cattle corridor at his country home in Rwakitura, Kiruhuura District on Sunday, the President observed that failure to make research and take informed decisions about the source of market for milk, will make farmers and other stakeholders take irrational and non-helpful decisions that is liable to distorting the dairy sector in the country.

The dairy sector in the country has been facing challenges pertaining to the fluctuation of milk prices to as low as Shs.300 a litre, a situation that has greatly angered farmers.

Museveni, who attributed the fall in agricultural produce to the forces of demand and supply on the international market, told the dairy farmers’ meeting that as the domestic consumption market is small, producers must churn out quality products in order to target the international market which we must access with quality products,” he said.

“Milk has a big market of US$480 billion annually. We have to access that market because our domestic market is not enough. We, however, have to ensure that we organize ourselves better and churn out high quality products to access those international markets. We also have to find a way of minimising our farm expenditure, maximise profit and be competitive on the international market” he said.

Museveni informed the meeting that as Uganda looks at accessing international markets, the people of East African and Africa in general should work on the integration of the East African and African markets in order to create an integrated and formidable market for our produce.

Addressing himself to the request by the farmers to be given government subsidies in the wake of the fall in produce prices, the President stressed that it was unattainable for government to re-focus funding resources from crucial development sectors, like numerous infrastructural areas, to subsidising farmers. He added that taking such a course of action would negatively impact the economy and the country’s development agenda.

Museveni, however, informed the meeting that he had secured a big milk and meat market in China that they should move to exploit. He stressed the need for high quality milk and beef if they have to access the Chinese market because they are not alone in marketing of the mentioned products.

He assured farmers of his determination and commitment to the promotion of dairy farming in the country with a target of 8 dairy cows per family in rural Uganda. He also assured farmers that government will continue to avail affordable agricultural loans at 10% per annum to all farmers, through the Uganda Development Bank (UDB).

Mr. Museveni told the meeting that the government, through the Ministry of Agriculture, Animal Industry and Fisheries, had ordered the procurement of better acaricides to fight ticks and tick related diseases. He assured them that tick-related diseases will soon be history.

He pledged support to local cooperatives that wish to be autonomous and start their own milk processing plants adding that funds for such ventures are available in Uganda Development Bank.

Agriculture, Animal Industry and Fisheries Minister, Vincent Sempijja said the challenge of lack of sufficient market in the dairy sector also affects other areas of agriculture as well due to bumper harvests. He, however, assured farmers that government was working to access big international markets and called for calm and cooperation from them. He appealed to them to be mindful of the quality of the produce they export.

Milk producers, on their part, requested government to avail them affordable loans to start their own cooperatives and build own processing plants in order to preserve milk and access international markets.

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Paris unveils 2024 Olympic Games logo

By
Agencies
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2024 paris olympics logo

The organising committee for the Olympic and Paralympic games Paris 2024 has unveiled its new emblem.

It was revealed following an innovative launch ceremony, which saw over 700 runners – led by Olympic and Paralympic medalists including Renaud Lavillenie, Nantenin Keita and Sarah Ourahmoune – run different routes around the center of Paris and saint-seine-Denis, forming the outline of the new paris 2024 emblem.

The emblem was then revealed in full on a giant screen at the grand rex cinema in paris at precisely 20.24.

The new design brings together three iconic symbols connected to sport, the Games and France – the gold medal, the Olympic and Paralympic flames, and Marianne.

International Olympic Committee Coordination Commission Chair for the Olympic Games Paris 2024, Pierre-Olivier Beckers-Vieujant, said: “I congratulate Paris 2024 on the launch of their new emblem. It perfectly reflects their vision and desire to put people at the heart of the Olympic Games Paris 2024.

“The combination of the gold medal, the Olympic flame and Marianne brings together the values, history and French touch that will make these Olympic Games truly special. I believe that this innovative design will be quickly recognised around the world and be a wonderful calling card for the Olympic Games Paris 2024.”

The emblem embraces the shape and colour of the most beautiful medal of all to express one of the core values of sport: striving for excellence. That same commitment also informs every step that Paris 2024 is taking in organising the Olympic and Paralympic Games Paris 2024, so that it can fulfil the pledges it has made to stage a different, grounded, sustainable and inclusive Games.

The Olympic and Paralympic flames always conjure up special memories. The flame invites us to dream, to engage and to come up with new ways of staging the Olmypic and Paralympic Games. It reflects the unique energy of the Games, which bring people together and drive solutions forward.

The Games will help improve the lives of the inhabitants of the Seine-Saint-Denis area by bequeathing useful infrastructure to them: eco-neighbourhoods, through the conversion of the athlete and media villages into housing, and the creation of local sports facilities, such as the Olympic Aquatics Centre.

Finally, Marianne. With its feminine traits, the Paris 2024 emblem pays tribute to a woman who is a French national symbol known around the world. She embodies the revolutionary spirit that infuses the Paris Olympic and Paralympic Games. She encapsulates the desire to bring the competitions out of the stadium and into the heart of the city.

A familiar figure who is everywhere in the everyday lives of French people, she is also a reminder that these Games will be Games for everyone, Games that will belong to the people. Her face is also a homage to female athletes and a nod to history, as it was in 1900 at the Olympic Games in Paris that women were first allowed to compete.

For the first time, the emblem will be the same for the Olympic and Paralympic Games, only differentiated by the Olympic rings or Paralympic agitos, which will appear underneath.

The logo also pays tribute to Paris as the host city of the Games, as its pure, understated lines and its original typeface take their inspiration from Art Deco, the first complete artistic movement, which reached its height at the 1924 Games in Paris. It expresses just how proud the country is to be welcoming the world to its capital city in 2024.

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Tricky mission for former champions Zamalek against Generation Foot

By
Our Reporter
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Milutin “Micho” Sredojevic

Five-time African champions Zamalek of Egypt are facing a tricky mission when they play hosts to Senegalese champions Generation Foot this Thursday in the second leg of 2019-20 Total CAF Champions League first rounds, at Cairo-based Al Salam Stadium.

Against all odds, Zamalek conceded a 2-1 defeat in Thies last month. Mame Gueye scored in each half to give Senegal’s academy club a 2-0 lead and put the Egyptian giants in a tough situation, but substitute Mostafa Mohamed scored what might be a vital away goal for the White Knights fifteen minutes from time to leave things open.

The return leg was scheduled for 28 September, but some unfortunate events led to the encounter being called off. Following a meeting by the CAF Organizing Committee for Interclub Competitions and Club Licensing System in Cairo on 8 October, the match was rescheduled for Thursday, 24 October 2019 in Cairo at 20:00 local time.

Zamalek coach Milutin “Micho” Sredojevic is banking on his two decades of African experience in his overturn the results and land the Whites Knights a place at the group stage of the Total CAF Champions League. The Serbian who has had spells with the likes of SC Villa (Uganda), Saint George (Ethiopia), Young Africans (Tanzania), Al Hilal (Sudan), Kaizer Chiefs and Orlando Pirates (both South Africa) and in between stints with Rwanda and Uganda national teams, is desperate for continental glory with the Cairo giants , whose last of five CAF Champions League titles date back to 2002.

The return leg was scheduled for 28 September, but some unfortunate events led to the encounter being called off. Following a meeting by the CAF Organizing Committee for Interclub Competitions and Club Licensing System in Cairo on 8 October, the match was rescheduled for Thursday, 24 October 2019 in Cairo at 20:00 local time.

Zamalek coach Milutin “Micho” Sredojevic is banking on his two decades of African experience in his overturn the results and land the Whites Knights a place at the group stage of the Total CAF Champions League. The Serbian who has had spells with the likes of SC Villa (Uganda), Saint George (Ethiopia), Young Africans (Tanzania), Al Hilal (Sudan), Kaizer Chiefs and Orlando Pirates (both South Africa) and in between stints with Rwanda and Uganda national teams, is desperate for continental glory with the Cairo giants , whose last of five CAF Champions League titles date back to 2002.

Micho will once again rely on the experience of the Tunisian duo of Ferjani Sassi and Hamdi Naguez, and the brilliance of the Egypt U-23 international Mostafa Mohamed who scored the crucial away goal in the first leg.

Mohamed ,who turns 22 next month has scored four goals in three games this term, and is gradually warming himself to the Zamalek faithful.

The aggregate winner will be placed in Group A besides DR Congo giants TP Mazembe, Angola’s Primeiro de Agosto and Zambia’s ZESCO United. While the loser will qualify to the second additional preliminary round of the Total CAF Confederation Cup, where they face Beninois torchbearers ESAE, with the first leg to be played on 30 October 2019 and the second leg on 5 November 2019.

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Airtel Africa and Ecobank Group ink deal to ease clients’ access to mobile financial services

By
Our Reporter
-
Airtel, Ecobank mobile financial services partnership has been announced

Airtel Africa and Ecobank Transnational Incorporated (“ETI”), the parent company of Ecobank, have signed a partnership which will allows millions of Airtel Money and Ecobank customers across Africa to improve their access to mobile financial services and carry out a variety of mobile transactions.

This partnership, which is subject to regulatory approval in each market, will enable Airtel Money customers, through Ecobank’s digital financial services ecosystem, make online deposits and withdrawals, effect real time domestic and international money transfers, make in-store merchant payments, and access loans and savings products amongst others.

The partnership will also allow Ecobank corporate account holders to make bulk disbursements, such as payroll payments, directly into Airtel Money customer wallets. Additionally, Ecobank will be able to sponsor Airtel Money to issue both virtual and physical debit and pre-paid cards to Airtel Money customers.

Raghunath Mandava, CEO for Airtel Africa, said: “This partnership is a further demonstration of Airtel Africa’s commitment to provide affordable, simple and innovative solutions for our consumers across Africa. We will continue to offer locally relevant M-Commerce solutions with partners like Ecobank in order to enhance the daily lives of our customers.”

Ecobank Group CEO, Ade Ayeyemi, commented: “We believe that financial inclusion can ultimately contribute to economic development, collaborating with major telecommunications providers in Africa is therefore a key strategic driver towards closing the gap between the banked and the under-banked.

“Hence this partnership with Airtel Africa which makes Ecobank financial services available to any Airtel line registered on Airtel Money, in our markets where regulatory approvals are in place. This potential extensive reach will further provide convenience to customers, intra-country and particularly for cross-border transactions and remittances across Africa.”

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