Stanbic Bank
Stanbic Bank
21.4 C
Kampala
Stanbic Bank
Stanbic Bank
Home Blog Page 1183

UK Minister impressed by Uganda’s efforts to fight Ebola 

By
Geoffery Serugo
-
Alok Shama
 

The United Kingdom (UK) through its Department for International Development (DFID) has provided eight million pounds to assist countries bordering the Democratic Republic of Congo (DRC) to prevent Ebola Virus Disease (EVD) from crossing borders in the region.

This was announced by Honorable Alok Shama the UK Secretary of State (DFID) while visiting Kasese district yesterday. “We have a good working relationship with the government and that is a relationship we want to continue building. Ebola is a huge issue in this region and obviously for the United Kingdom. We will, therefore, continue working with you and your government on this,” he said.

“The good news is that in the last month Uganda has been declared free of Ebola in Kasese district. But the reality is that we cannot be complacent. There are 800,000 crossing between these two countries every month and therefore the risk of Ebola crossing borders is higher” he added.

“The UK has been playing a leading role in combating the spread of Ebola. UKaid has been giving support in terms of vaccines, screening systems, ambulances and protective clothing. We have been helping local communities to combat the stigma that comes with vaccination and convalescing people. It is absolutely vital that we continue this work to prevent Ebola from spreading” Hon Shama noted.

At Mpondwe border crossing, Hon Shama accompanied by the WHO Country Representative and Dr Yonas Tegegn Woldermariam, the British High Commissioner to Uganda HE Peter West and the Acting Director-General of Health Services Dr Henry Mwebesa observed the screening process conducted by volunteers and health workers. He particularly sought to know how health workers deal with possible EVD importation into Uganda given the long and porous border between the two countries.

“The main approach has been to ensure that communities are sensitive and that community surveillance and risk communication actually work so that people are able to identify and report suspected cases. We hold community dialogues and regular engagements with community leaders, volunteers, religious and cultural leaders,” explained WHO Innocent Komakech.

“We are also using radios and distributing IEC materials in local languages in all communities which have raised community awareness. We have procured and distributed telephone sets through which people report to health workers. Training of health workers in government and private health units on infection prevention and control has been emphasized as well,” added Dr Yonas.

Indeed, through such approaches, over 920 alerts have been reported to health workers from communities in one year. On average, weekly nine alert cases are reported and responded to in Kasese district alone.

Fortunately, most of these have turned out negative for EVD. This level of community sensitivity leads health workers to conclude with reasonable confidence that there is no active EVD transmission in the community.

The in-charge of Bwera Ebola Treatment Unit (ETU) Dr Luise  Kabyanga explained to Dr Shama the history and operation of the ETU that was constructed by WHO and MSF with support from UKaid. “This is the only ETU in the District. Other places have small holding units. When they get alert cases, they only hold them in the isolation units. It’s our responsibility to pick them from there and manage them from here” she explained.

Since June 2019, the Bwera ETU has treated over 68 alert cases with four deaths. The deaths include two confirmed Ebola cases. Others have been due to other causes.

At Isango sub-county Hon Shama and his delegation interacted with local leaders, Village Health Teams and community members who they found in a community meeting. He was impressed by their enthusiasm, the invaluable messaging through songs and dramas and their tremendous contribution to Ebola work in the communities.

“It’s when you come out here that you realize how serious this is. I take this opportunity to thank you very sincerely for the work you do in the community. You are at the frontline of all this and I am humbled to be standing in front of you,” he said.
Stories Continues after ad

FUFA submits 26 names for 2020 FIFA badges

By
Our Reporter
-
Ugandan referees during the Uganda cup final

 

FUFA has shortlisted twenty-six referees and forwarded them to FIFA for approval of FIFA referee badges for the year 2020.

The names of the referees were approved during the 21st FUFA Executive Committee meeting held in Mengo on Wednesday 21st August 2019 where the FUFA President Eng. Moses Magogo chaired the seating.

The list consists of five male referees, seven assistant male referees, three female referees, four female assistant referees, four beach soccer referees and three futsal referees.

Nsubuga Brian Emmy, Sengendo Isaac and Kamala Benon are some of the new faces that have been included on the list by FUFA.

Uganda currently has 22 International referees but FIFA decides on the allocation of referees to each Member Association.

FIFA will confirm the referees suitable for the 2020 FIFA badges before the end of this year.

Uganda FIFA Referees Proposed list has;

Referees (Men): Ssali Mashood, Muhabi Alex, Sabilla Ali Chelangat, Oloya William and Madanda Ronald

Assistant referees (Men);Okello Dick, Katenya Ronald, Okello Lee, Balikoowa Musa Ngobi,  Masembe Issa, Mulindwa Hakim and Okudra Emmanuel

Referees (Women): Nabadda Shamirah, Murungi Diana, Tiwuwe Eunice

Assistant referees (Women); Nantabo Lydia Wanyama, Nakitto Marex Nkumbi, Mutonyi Jane, and Docus Atuhaire

Beach Soccer: Kintu Ivan Bayige, Mugerwa Shafic, Ssenteza Muhammad and Kawagga Bazirio Keneddy

Futsal Referees: Nsubuga Brian Emmy, Sengendo Isaac and Kamala Benon

Stories Continues after ad

Junior Agogo, former Ghana,Sheffield Wednesday and Nottingham Forest striker, dies at age 40

By
Agencies
-
Late Junior Agogo

 

Former Sheffield Wednesday, Nottingham Forest and Ghana striker Manuel ‘Junior’ Agogo has passed away in a London hospital at the age of 40, it was announced on Thursday.

 

The cause of Agogo’s death is currently unknown, but he was known to have had a stroke in 2015, just three years after hanging up his boots following a season-long stint with Scottish side Hibernian.

Born in Accra, Ghana, the striker spent most of his youth in the UK before returning to the country of his birth to complete secondary school studies.

 

Signing up to Wednesday’s youth system in 1995, Agogo was promoted to the Owls’ first team two years later, but spent the majority of the following years on loan before taking in a year in Major League Soccer.

A prolific stint with Colorado Rapids contributed to the rising of Agogo’s stock, with successful spells at Barnet, Bristol Rovers and Nottingham Forest following before his career began to wind down.

 

On his home continent of Africa, the former forward will no doubt be remembered most for his standout performances for Ghana at the 2008 Africa Cup of Nations on home soil, where he scored three goals in six outings in what would ultimately end in a third-place finish.

His notable contribution during the continental competition was his late match-winning effort that gave the Black Stars a 2-1 win over arch-rivals Nigeria.

 

 

Stories Continues after ad

Stanbic Bank named best performer in govt securities

By
Our Reporter
-
Mutebile and Stanbic CEO Patrick Mweheire.

 

 

The Bank of Uganda (BoU) on Wednesday recognised Stanbic Bank Uganda as the best performing commercial bank in Uganda government securities for the months June and July 2019.

Launched in 2005, the Primary Dealer (PD) system aims to promote participation in Uganda government securities markets where treasury bills and treasury bonds are traded.

It also aims to foster the development of financial markets, to improve the secondary market trading system as well as to ensure efficiency in the operations related to the government securities market at the central bank.

BoU Governor, Emmanuel Tumusiime-Mutebile handed over the award to the Chief Executive Stanbic Bank Patrick Mweheire during the quarterly Uganda Banker’s Association meeting held at BoU headquarters in Kampala.

Mutebile said as part of BoU’s commitment to make investing in government securities easier and more accessible to the public, the BoU launched Phase I Reforms to the PD System in October 2016 where all licensed commercial banks in Uganda have direct access to the primary market for government securities.

“I wish to acknowledge the role that Stanbic Bank Uganda Ltd has played especially for participating in the primary auctions, market making capabilities, consistent pricing as well as timely market intelligence,” said Governor, Tumusiime-Mutebile.

“These reforms have eased the client registration process on the CSD as evidenced by increased retail participant registrations, enabling faster and more efficient secondary market trading as all banks can complete client sale and purchase orders online without using the old BoU physical instrument for transferring CSD forms,” he said.

Banks are all eligible to open Central Securities Depository (CSD) accounts at the BoU for their clients through a web interface on any business day.

They are all able to accept and process their clients’ bids for Government securities. All banks settle their clients’ successful bids and all banks can buy their clients’ securities if the client wishes to sell in the secondary market.

According to a statement from BoU, alongside the retail segment, the participating banks have also enhanced liquidity in the secondary market transactions.

The governor applauded banks for their contribution towards the marked improvement in the development of the government securities market.

 

 

Stories Continues after ad

NSSF, police to ensure security companies remit workers’ contributions

By
Geoffery Serugo
-
NSSF Managing Director Richard Byarugaba
 

 

The National Social Security Fund (NSSF) has established a partnership with Uganda Police Force to ensure that private security companies in the country comply with the remittance of social security contributions for their employees by way of making possession of NSSF clearance mandatory.

The ceremony to establish the partnership was held at Imperial Royale Hotel in Kampala on Thursday.

The partnership will help security companies’ employees who fear that they will retire in poverty if their employers continue with the habit of not remitting their NSSF contributions.

Under the partnership, the security companies will now be required to obtain an NSSF clearance certificate as a prerequisite for an annual operation license.

“We received over 245 complaints through our whistle blower platform from employees of private security companies between January 2018 and February 2019. That prompted us to carry out compliance audits and from our analysis, we found that over 7,000 workers’ contributions had not been fully remitted to NSSF,” said NSSF Deputy Managing Director Patrick Ayota.

He said that recovering of the contributions has been difficult mostly because the security companies under-declare information like the number of employees and salaries paid. He said they also withhold financial records during social security audits.

“I encourage employers to compile because the benefit doesn’t go to the Fund but to the security guard and your organisations’ reputation,” he said.

The NSSF Head of Business, Geoffrey Ssajjabi stated that, ”Security companies are one of the biggest defaulting employers registered with the Fund, security guards play a very crucial role in our society and lives and it is vital that we take care of their future.”

On the issue of NSSF not paying benefits to its members, the Corporate Relationship Manager, Ian J. Mwesigwa stated that the Fund paid out over Shs400 billion to eligible members in the last financial year.

 
Stories Continues after ad

Police arrests city fraudster

By
Our Reporter
-
Alvin Bruno

Police in Kajjansi has netted one Alvin Bruno who have been defrauding people through selling properties that don’t belong to him.
Bruno was arrested in Kajjansi C cell, Kitende ward, Kanjansi Town Council, Wakiso District.

He was nabbed with forged land titles and National identity cards while his counterparts survived arrest. They were about to receive Shs20 million on someone’s vehicle which was parked in Kampala.

Their mode of operation is to identify and forge logbooks and land titles for vehicles and plots of land which are on sale after which they present people who disguise to be the owners and very sick and therefore, badly in need of money for treatment. After receiving the money they disappear.

According Kampala Metropolitan police,the holding charge is forgery.
“when planning to buy a property carry out background check on the people selling you the property and the property itself”.

Stories Continues after ad

New details emerge in  Asians properties saga as documents indicate Uganda paid Indian gov’t

By
Isaiah Mwebaze
-
Justice Bart Katureebe who gave the legal opinion when he was still Attorney General.
 

New details have emerged that some Indians could be claiming properties under the Departed Asian Property Custodian Board (DAPCB) even though the Indian government could have given them the money that was paid the Ugandan government as compensation.

In June 1997, the then Minister of Justice/Attorney General Bart M. Katureebe wrote to the then Minister of State for Finance the late Basoga Nsadhu explaining that the government of Uganda under the international law sent money to the Indian government to compensate Indians who lost their properties after being expelled by president Idi Amin.

“The Indian government had a duty to pass on the compensation to its nationals since it not only negotiated on their behalf but received on their behalf,” Katureebe at the time explained to Nsadhu who had sought legal opinion on Indian properties under the DAPCB.

He added that all those Indians whose compensation was paid to the Indian government had no further claim in Uganda and that those who received certificates of repossession when they had been compensated should have the certificates canceled as they would be getting double benefit.

“The Indians who claim that they did not get paid by their government when in fact they were listed for payment should be advised to contact their government,” he said then.

Katureebe at the time also argued that those who fraudulently repossessed the properties when they had been compensated stood to be prosecuted. “Those who are found to have fraudulently reclaimed for which they had already been compensated, should not only lose the property but should be prosecuted subject to Direction of the Director of Public Prosecutions on the matter,” he said.

This website has published a story where on March 31, 1992 a one N.K Radia, purporting to act on Parkview Limited and Bharat Properties Limited applied for the repossession plot No.98-104, Nakivubo Road in Kampala and his wish was granted in April 1992 by the then Finance Minister the late Jehoash Mayanja Nkangi who did so under the Expropriated Properties Act.

However it is not clear whether the shareholders of Parkview Limited and Bharat Properties Limited who owned that property before they were expelled were later on compensated by the Indian government or not before reclaiming possession of the same.

The minister’s issuance of the certificate was based on the communication from the then DAPCB Executive Secretary on April 16, 1992, stating that the DAPCB Task Force had on April 11, 1992 cleared the repossession, having gone through the laid-down procedure on repossession of such properties.

According to the related law, DAPCB or the Ministry of Finance has no powers  for example to withdraw the repossession certificate given to Parkview Limited and Bharat Properties Limited and probably many more others.

 

 
Stories Continues after ad

Kenya lines up friendly game with Uganda Cranes

By
Our Reporter
-
 

The Football Kenya Federation (FKF) have confirmed two friendly matches that they have been lined up for Harambee Stars during the upcoming international break.

The Harambee Stars will play against Uganda Cranes on September 8 before another on October 10 against Libya.

The game against Uganda will be played in Nairobi while the venue for their game against Libya match will be played either in Morocco or Tunisia.

The federation revealed the future plans for Harambee Stars as they unveiled the new technical bench after Sebastien Migne’s contract was terminated.

Francis Kimanzi was appointed the new head coach and he will be deputized by KCB’s head coach Zedekiah Otieno. Harambe Starlets Lawrence Webo will be the goalkeeper trainer.

The two friendly matches will be the first duties for the new technical bench of the Kenyan national team.

Kenya were knocked out of the 2020 African Nation’s Championship (Chan) qualifiers by Tanzania following a 4-1 penalty shoot-out win at Kasarani in Nairobi. Both matches in the first and the second legs ended in goalless draws.

Uganda will be expected to use the friendly as preparations for the 2020 CHAN qualifier against Burundi on September 20 while Kenya will use the two friendlies to prepare for the 2021 Africa Cup of Nations Qualifiers.

Kenya were pooled in Group G alongside Egypt, Togo Comoros and open up their 2021 Afcon qualification campaign against the Pharaohs of Egypt on November 11th, 2019 in Cairo.

 
Stories Continues after ad

African Energy Chamber to seek energy deals with Chinese investors

By
Our Reporter
-
 

 

To support growing energy cooperation and investment between China and Africa, the African Energy Chamber is organizing a working visit to Beijing next week.

Led by Executive Chairman Nj Ayuk, the delegation from the Chamber will be meeting with CEOs and Chairmen from China’s state-owned energy companies and the private sector, along with key industry associations in China. The visit aims at further introducing the Chamber to the Chinese market following a series of roadshows organized in China by the Chamber over the past two years and increasing demand for investment information on Africa by Chinese investors.

“The investment appetite of Chinese companies for Africa is only getting stronger given current international trade and business dynamics,” said Mickael Vogel, Director of Strategy at the Chamber. “We are receiving an increasing number of requests from Chinese companies to join the Chamber, especially to gain access to the latest investment opportunities in Africa, and to credible and reliable information on African energy markets. Our visit will be consolidating several relationships we have developed over the past two years and will lead to discussion on major energy deals for Africa.”

Last year, Chinese President Xi Jinping pledged an additional $60bn for African development over the next three years during the Forum on China-Africa Cooperation. Traditionally, a large majority of Chinese investments have been made in energy and transport, especially oil & gas, power, mining, railways and airport infrastructure.

As Chinese investment into Africa increases, the Chamber is assisting several Chinese companies in navigating Africa’s fast growing energy markets. The move is part of the Chamber’s support to a large and expanding base of investors seeking to do business in Africa, mostly from China, Russia, India the Middle East and Turkey.

 
Stories Continues after ad

Kenyans return KSh25b hidden in old bank notes

By
Our Reporter
-
Old notes of Kenyan currency
 

 

Within a month after Central Bank of Kenya (CBK) Governor Patrick Njoroge announced plans to phase out the old KSh1, 000 banknotes, a massive Sh25 billion resurfaced into circulation.

This saw money outside of banks — in coins and notes — reduce by nearly one-tenth from KSh222 billion to KSh196 billion, according to the latest data from the CBK.

The unusual 9.8 per cent drop in money outside of banks is the first negative annual growth since CBK started making this data public in 2015.

The financial regulator acknowledges that some of the KSh196 billion could be money that Kenyans are using to buy goods and services with some in people’s pockets, but a good chunk of it could also be dirty money that has been kept out of circulation.

In his Madaraka Day Speech on June 1, Dr Njoroge noted that his team has since reached the conclusion that the KSh1, 000 notes were being used for illicit financial flows in the country and region.

“To deal conclusively with these concerns, all the older one thousand shillings series shall be withdrawn. By a Gazette Notice dated May 31, 2019, all persons have until October 1, 2019, to exchange those notes, after which the older one thousand shillings banknotes will cease to be legal tender,” said Dr Njoroge.

Thirty days after he had made the speech, currency outside of banks dropped by almost a tenth in what is a pointer to desperation by Kenyans — some who had hidden their hard-earned and for some, illicit money in their homes — to beat the September 30 deadline.

The other banknotes KSh50, Kh100, KSh200 and KSh500 old notes, will, however, remain as legal tender despite new currency being introduced under these lots.

The introduction of the new currency has generated mixed reactions even as some opposed because of the sculpture of the country’s first president, which they have insisted is a portrait, contrary to the constitutional requirement that no person’s photo should feature in the new generation currency.

Return of the cash into banks is given credence by a corresponding jump of money in bank accounts which increased by KSh22 billion. With the foreign currency deposits also experiencing a huge jump, it could explain where the missing Sh3 billion could have gone.

It is going to be interesting to see what the July and August data, which is yet to be compiled, will reveal even as CBK governor goes on a campaign trail urging Kenyans to return the old KSh1,000 notes for replacement.

There are 40 days left to the deadline, and CBK officials are on the look-out how much of the cash ‘hidden under mattresses’ will be returned.

Reginald Kadzutu, a financial analyst, agreed that this is a strong indication that people are trying to beat the September 30 deadline. Mr Kadzutu noted that while the money might now be available for use by consumers, there are also fears of a spike in prices of goods and service in the coming months as Kenyans rush to spend this excess cash.

“This money is now clean money and people might try to be prudent in using it, so they will buy assets,” said Kadzutu.

Analysts widely blame idle cash for the slowdown in the economy, with most companies being forced to cut on production costs by laying off workers.

The governor has insisted that the deadline will not be extended, warning those who will be left with the KSh1, 000 that they will have been left with nothing but “pieces of paper.”

As of June 2018, there were 201 million pieces of KSh1, 000 notes, which translates to Sh201 billion. This means the KSh1, 000 notes constitute 90 per cent of the cash outside currently outside of the banking system.

The injection of KSh25 billion into bank accounts coincided with the payment of pending bills by Government, reported to be around Sh10 billion.

The excess cash might have contributed to the weakening of the local currency as traders, finding themselves with a lot of money, rushed to forex bureaus to buy US dollars which they could use to buy goods from the world market. Njoroge has, however, has denied any links between the return of the old banknotes and weakening of the shilling.

 
Stories Continues after ad
1...1,1821,1831,184...2,377Page 1,183 of 2,377

© Eagle Online. All rights reserved.

About Us

Popular Category

Editor Picks