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10 tips on managing an overwhelming business workload

By Martin Zwilling

One of the most common complaints I hear from entrepreneurs is that they are overwhelmed by the workload and stress of starting their company. Then there are the additional challenges of balancing the demands of family and friends. Having too much on your plate can turn your dream into a nightmare.

Some people will tell you to just get a bigger plate, meaning hire some help. But with the pressures of the economy, and limited access to outside funding, we all know this isn’t always possible or appropriate. I recommend the opposite, or getting things off your plate that shouldn’t be there in the first place.

In reality, many entrepreneurs are their own worst enemy, trying to do everything, working inefficiently, and imagining things that need doing which will never happen. Here are some tips on how to look at work, make some hard decisions, and keep your health and sanity:

Maintain a big picture perspective. It’s easy to be overwhelmed by day-to-day details, to the degree that they all seem like big items, driving up your imagined workload. Take a few minutes each day to reflect on your real goals, and eliminate items which don’t relate.

Set realistic deadlines. The more your workload grows, the greater is your temptation to set unrealistic deadlines for yourself. This results in poor quality work, which generates more work to fix previous efforts. Allow some buffer on every item.

Prioritize the work items. Relentlessly reprioritize your list and complete them in order, resisting the urge to skip over the tough ones. The longer that high-priority items stay on your list, the more stress you will feel, and consequences will add new items.

Keep a written to-do list. Most people can’t manage more than five items in their head, and when your list gets longer, it seems infinite. Write it down, but even then, keep it to the top ten priority items or less. Multiple pages of work items won’t get done anyway.

Block out time for priority work items. Don’t allow your day to be monopolized by distractions and the crisis of the moment. Close your door, or move to another location where you will not be interrupted so that you will complete the top item on your list today.

Count the completions. At the end of each day, check off, count, and celebrate your positives. A sense of progress is important here. Look positively at your progress as a glass half full, rather than half empty.

Take a break to recharge. Even a few minutes each hour to relax will re-energize you. Regular non-work breaks, like a trip to the gym, or time with family will be ultimately more productive than slugging it out all night on a given problem. Get a good night’s sleep.

Discuss the tough ones with a mentor. Don’t be afraid to discuss your challenges with a trusted friend, or business advisor. This will clarify the issue in your own mind, and let you see it from other angles. You need to stop and regroup when you hit a brick wall.

Stay in control of your emotions. Stress is a normal part of life. Don’t let it lead to anger and frustration, or loss of productivity. We can choose how we handle tough situations, and the best approach is always to stay calm and in control.

Eliminate phantom work items. These are items that you never intend to do, and probably don’t need, but you carry them on your list because of guilt or direction from someone else. You can’t complete an item that you don’t understand.

Wearing all the hats required to initiate a startup is tough in the best of situations. Then your business really starts to take off, and it gets even more challenging. As an entrepreneur, you need to seriously apply the discipline of these principles early and always to survive, and hopefully even enjoy the journey.

 

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

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Capital markets look beyond EU: UK-European co-operation after Brexit

David Marsh

By David Marsh  

Relations between the UK and the rest of Europe in the economic and financial sphere go back a lot further than UK membership of the European Community in 1973 – and will extend far into the future after the British depart. One field for co-operation that is vital for both sides is in financial regulation across and beyond the European Union.

At a seminar on 18 September at the UK Foreign and Commonwealth Office dealing with the shifting regulatory landscape, Prof. Otmar Issing, a former board member for economics at the European Central Bank, previously at the Bundesbank, will spell out the expected European transition after UK departure. In the past he has warned that UK withdrawal would prompt an inward-looking EU approach and intensify protectionism – an impression that the new European Commission under President-elect Ursula von der Leyen is anxious to dispel.

Many Europeans believe a strong reason for the British exit lies in a wish to return to a ‘UK first’ strategy including through lighter regulation to safeguard London’s financial prowess. The view is decisively rejected in London. Since the 2008 crisis, UK policy-makers have said a stern-minded regulatory approach, not a ‘light touch’, is the key to maintaining confidence and investment. So both sides have much to prove.

There is joint interest in maintaining channels for cross-border trade and investment for sustainable and inclusive European growth. The UK wishes to understand, influence (if possible) and maintain robust links to the European capital markets union project aimed at improving access to growth finance for larger and smaller companies. This is a field where the City of London believes it has considerable expertise to apply post-Brexit.

Britain claims that joint action to improve capital market performance and mitigate risks will bolster stability and prosperity across Europe. In seeking to maintain two-way access across all sectors in Britain and the rest of Europe, UK regulators and market participants make the point that markets are global, not simply European. This is underlined by the dominance of international capital over trade flows and multiple initiatives linking European, Asian and North American stock exchanges and capital market participants. The (rejected) bid by the Hong Kong Stock Exchange for the London Stock Exchange emphasises the fungibility of international capital. So there is bound to be some tension between global and purely European considerations.

Despite President Donald Trump’s go-it-alone tendencies, regulators and their political masters around the world generally are committed to a multilateral approach guided by shared values and common challenges. This is crucial for realising ambitions such as reinforcing sustainable finance or providing sufficient funds for infrastructure.

All these issues are germane to the wider issue of post-Brexit links between the UK and the biggest EU economy, Germany. In a speech in Berlin on 12 September, studded with references to Beatles’ songs, at a conference commemorating the 100th anniversary of the British Chamber of Commerce in Germany, I put forward an audacious proposition. Just at the time when the Britons are leaving the EU, the British and Germans are becoming more like each other. ‘Or perhaps we are swapping characteristics in that confused and generalised way in which we speak about different countries’ national traits. These are psychological, psycho-social processes.’

OMFIF has described areas where the two countries can team up post-Brexit, in a report in March 2019 for the British embassy in Berlin. The report touches on banking and financial services, infrastructure and development finance, services, climate change and sustainability, cybersecurity, digitalisation and artificial intelligence, education and research, specialised manufacturing, pensions, savings and stock markets.

There is much that the UK and the rest of Europe can and will do together. The task will be, assuming departure takes place on or shortly after 31 October, to get on with it.

The writer is Chairman of Official Monetary Financial Institutions Forum (OMFIF).

 

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Gates Foundation report spotlights new data on global inequality, calls to prioritize those being left behind

The Bill & Melinda Gates Foundation today launched its third annual Goalkeepers Data Report, which features new data showing that while progress on health and development continues unabated, global inequality remains a major barrier to achieving the U.N. Sustainable Development Goals (Global Goals).

Even in the worst-off parts of low- and low-middle-income countries, more than 99 percent of communities have seen an improvement in child mortality and schooling. Yet despite this progress, persistent gaps in opportunity mean that nearly half a billion people—about one in 15—still do not have access to basic health and education.

Gaps between countries, districts, and boys and girls prove that the world’s investments in development aren’t reaching everyone. Using new sub-national data, the report uncovers the vast inequalities within countries that are masked by averages.

Where you’re born is still the biggest predictor of your future, and no matter where you’re born, life is harder if you’re a girl. Despite gains in female educational attainment, opportunities for girls are limited by social norms, discriminatory laws and policies, and gender-based violence.

“As we write, billions of people are projected to miss the targets that we all agreed represent a decent life,” Bill and Melinda Gates write in the Goalkeepers Data Report, “Examining Inequality 2019,” which they co-authored. “We believe that seeing where the world is succeeding will inspire leaders to do more, and seeing where the world is falling short will focus their attention.”

To address persistent inequality, Bill and Melinda Gates are calling for a new approach to development, targeting the poorest people in the countries and districts that need to make up the most ground. Governments should prioritize primary health care to deliver a health system that works for the poorest, digital governance to ensure that governments are responsive to their least-empowered citizens, and more support for farmers to help them adapt to climate change’s worst effects.

Bill and Melinda Gates will produce a Goalkeepers Data Report every year through 2030, timing it to the annual gathering of world leaders in New York City for the U.N. General Assembly. The report is designed to track progress in achieving the Global Goals, highlight examples of success, and inspire leaders around the world to accelerate their efforts. The goal is to identify both what’s working and where we’re falling short.

As in past years, in conjunction with the report, Bill and Melinda Gates will co-host the third annual Goalkeepers events in New York City during the U.N. General Assembly, convening global leaders to celebrate progress in global health and development and highlight the critical importance of closing the global inequality gap to achieve the Global Goals.

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Former DR Congo dictator Mobutu Seseseko’s mansion is now home to wild animals

Former Congo dictator Mobutu Seseseko’s mansion is now home to rats, bats, snakes and birds.

The magnificent structure constructed on a large expanse of land equivalent to a minimal game park was built in his home village called Gbadolite at the cost £100 million.

It was considered the “epitome of decor and elegance” in Zaire and beyond. The super structure was decorated with Italian marble, Katangese high-karate gold plated doors and windows, Spanish floor tiles, automatic American air conditioning, Isreali state-of-the-art communication systems, king-size swimming pool, a private airport control tower, 3-4 inch bullet-proof glassware, 5 presidential suites, 6 Jacuzzis and surrounded by a mini game park full of all kinds of wildlife, including Indian tigers.

The structure, which at the time of Mobutu’s death was ranked one of the most magnificent private castles ever owned by a sitting Head of State, is now home to wild rats, tropical snakes, gecko lizards, mega snails, scorpions, birds and thousands of wild insects.

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Spain win 2019 Basketball World Cup

 

Spain beat Argentina 95-75 to win the 2019 FIBA Basketball World Cup in Beijing Wukesong Arena, their first title in 13 years.

Argentina were down big in the opening quarter. Gasol’s good defensive work on Scola, plus Ricky Rubio’s relentlessness as a threat to score and pass to a team full of players ready to put points on the board, opened up a 14-2 run in the first quarter.

Argentina stormed back with 11 straight points, but Spain then re-established their lead after going on a 17-1 run. In the third quarter, the Spaniards kept the pressure on and even though Argentina fought hard, there was no coming back against this focused squad.

Facundo Campazza had some exciting plays early but never managed to break loose in the scoring column, and Scola never got going in any way. The scoring fell to the likes of Gabriel Deck, who managed to break open for some fast break dunks, and Nicolas Laprovittola added 17.

However, Spain put six players into double figures, led by Rubio, who managed 20 points with 7 rebounds and 3 assists. It proved that he can still be a reliable point guard on an important team after largely being played out of the NBA conversation in recent years.

Ricky Rubio was named the MVP of the 2019 FIBA World Cup after leading Spain to gold. He was also among the five players named to the FIBA World Cup 2019 All-Star 5, joining Marc Gasol (Spain), Luis Scola (Argentina), Bogdan Bogdanovic (Serbia) and Evan Fournier (France).

Earlier, France took their second successive World Cup bronze medal with a 67-59 win over Australia.

United States and Serbia were the overwhelming gold medal favorites going into the tournament but were quarterfinal victims to France and Argentina respectively.

Seven teams – Argentina, Australia, France, Iran, Nigeria, Spain and the United States – qualified for the 2020 Olympics in Tokyo by finishing as the top (or second-best) teams in their regions at the World Cup.

As the host nation, Japan has also qualified. The other four entrants will be determined by qualifying tournaments early in the summer of 2020.

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KIU rewards three innovative science students for inventing diagnostic apps

HURRAY! Graduates of KIU after receiving their degrees

Kampala International University (KIU) has rewarded three innovative science students and vowed to support their innovations for the benefit of the health sector.

The three were awarded during Research Dissemination and Innovation Conference (KRIC 2019) tagged, ‘Multi-Sectoral Collaboration towards the Prevention and Management of Non-Communicable Diseases’. The event which was held in her Western Campus in Ishaka-Bushenyi.

The overall winner was Higenyi Eria pursuing a bachelor’s degree in Pharmacy who invented ‘The street diagnosis machine’ that calculates Body Mass Index (BMI), takes blood pressure, oxygen circulation and heart rate. The machine advises on the course of action after diagnosis according to what he called ‘The Higenyi Constant’. He walked away with a token prize of Shs 1,000,000.

Kamyuka Solomon and Kigozi David invented a mobile app dubbed ‘Glucoheart’ that estimates blood glucose levels. The duo were awarded Shs750, 000.

LuLe Patrick offering medicine and Kyeyune pursuing his bachelors in pharmacy the two invented ‘Med system’ an online based system software and mobile app that helps fight Non communicable diseases. They were awarded Shs 500,000.

The Executive Director/Dean KIU Teaching Hospital (KIUTH), Professor Robinson Ssebuufu remarked that KIU as institution has given a great platform for innovative students to bring their projects to lime-light, as such they will be rewarded accordingly.

“Students are Innovators. KIU has given them a platform and an enabling environment. Those who are coming up should be inspired. Their ideas matter and we are rewarding them.”

According to Prof George Nasinyama, the Director Higher Degrees and Research KIU, the conference provided for promotion of innovations by turning them into products that can benefit the community through the dissemination of research knowledge and presentation of various innovations.

“The conference was a big success. This was unique in a way that it was organized by the students and the staff. For such a rare collaboration it’s rare to get that kind of success. It shows that KIU puts its students at the center. Whatever we do, we involve our students.” Said Prof Nasinyama.

 “Being the first of its kind, it was fantastic and well attended. We had the presence of the Ministry of ICT and Health and they’ve promised to support the University.” Said Dr. David Kalenzi, Director Post Graduate Studies and Research, KIU

The Kampala International University Research Dissemination and Innovation Conference (KRIC) is slated to become an annual event aimed at growing and strengthening a research and innovation culture among all students and staff at KIU Western Campus and other universities.

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Meera Investments drags UK consultancy firm to court over breach of contract

Speke Apartments - Kitante

Police in Kampala is investigating a case in which a UK based consultancy firm, FBW Projects defrauded Meera Investments Limited about Shs2.5 billion meant for the design of construction works at two of its properties in Kampala.

FBW was contracted by Meera Investments to provide consultancy in the construction of Speke Apartments along Wampeewo Avenue and the extension of Kabira Country Club.

According to the reliable sources, Meera Investments approached FBW in 2012 and the two signed a contract for provision service in the construction of the two properties.

It is said Meera gave FBW an upfront payment of Shs1 billion for the construction of Speke Apartments and Shs1.4 billion for the extension Kabira Country Club. Kabira Country Club extension has not been kicked off due to FBW’s fraud.

Meera investments has for long asked for architectural work from FBW so that work could kick off but they have always turned a deaf ear.

Meera Investments filed a case of fraud at Katwe police station under reference number GEF:131/2019.

FBW is a UK design, architecture, and engineering-led, multi-disciplinary consultancy firm with operations in Uganda, Kenya, Tanzania and Rwanda while Meera Investments is Meera investments a construction company incorporated in Uganda in 1994. It is one of the companies under the Ruparelia Group of companies.

Meera investments are known in Uganda for bringing on market commercial and residential structures. It takes on the role of main contractor for small to medium size projects and performs project management services to coordinate specialist trades for industrial/ commercial and residential projects.

On its website FBW Projects says it has developed a reputation for design and delivery of quality building projects in Uganda including:  The Emin Pasha Hotel, The Ndere Centre, The new British High Commission, The Motorcare (Nissan) Building, Kabira Country Club, Munyonyo Commonwealth Resort and various high quality private residences.

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Commercial bank rates jump 21.4 percent in July

The Late BoU Governor Emmanuel Tumusiime-Mutebile

Despite the Bank of Uganda BoU) keeping the central bank rate (CBR) unchanged at 10 percent in August 2019, the shilling denominated lending increased from 19.02 percent in June to 21.4 percent in July 2019, according the Performance of the Economy Report for August.

According to the report released by the Ministry of Finance Planning and Economic Planning (MFPED), the increase in commercial bank lending rates in July is in-part due to the high operational costs borne by the commercial lenders coupled with their risk averse tendencies.

“Likewise, foreign currency lending rates slightly increased from 6.43 percent in June to 6.92 percent in July 2019,” the report says.

The stock of private sector credit increased by 0.9 percent from Shs 15,092.2 billion in June to Shs15,226.26 billion in July 2019. The continuous growth in the stock of credit is partly attributed to the sustained improvement in economic activity and the supportive monetary policy stance maintained by BoU.

Similar to June 2019, the Trade sector received the largest share of credit approved in July 2019 at 24.1 percent. Other notable sector recipients of new credit during the month were personal loans and household loans (16.5 percent), Building Construction and Real Estate (15.9 percent) followed by Manufacturing sector at 10.3 percent.

Uganda’s merchant trade deficit

According to the report, Uganda’s merchandise trade deficit narrowed on a monthly basis whereas it increased on an annual basis. In comparison with the previous month, the merchandise trade deficit narrowed by 17 percent from US$278.91 million to US$ 231.42 million in July 2019, following a decline in imports and an increase in exports.

“Compared to July 2018, the merchandise trade deficit increased from US$166.56 million to US$ 231.42 million in July 2019. This was explained by higher growth in imports that more than offset growth in exports,” the report says.

Uganda’s exports in July

Uganda’s export earnings increased both on an annual and monthly basis. Export earnings grew by 5.9 percent from US$ 300.63 million in June 2019 to US$ 318.43 million in July 2019. The growth was attributed to increased earnings from different export commodities such as coffee, cocoa beans, rice, base metals, fruits and vegetables.

Earnings from coffee increased following increases in both its volume and the international price. Compared to July 2018, coffee export receipts increased by 11.9 percent from US$ 284.65 million to US$ 318.43 million in July 2019.

Destination of Uganda’s exports

In the month of July 2019, the Middle East was Uganda’s top destination for merchandise exports, followed by the East African Community (EAC), then the Rest of Africa. 32.4% of Uganda’s merchandise exports were absorbed by the Middle East in July 2019. Exports to the Middle East increased from US$ 38.08 million in July 2018 to US$ 103.17 million in July 2019. “Compared to July 2018, Uganda`s exports to all regions grew with an exception of the EAC. Exports to all EAC Partner States dropped save for Burundi,” the report says.

Uganda’s imports in July

During the month of July 2019, the value of merchandise imports declined on a monthly basis but increased on a yearly basis. The value of merchandise imports dropped by 5.1% from US$ 579.54 million in June 2019 to US$ 549.85 million in July 2019. The decline was attributed to a decrease in government imports. “Government imports declined by 70.2% whereas private sector imports increased by 5.8%,” says the report.

In comparison with the same month the previous year, the import bill increased by 21.9 percent from US$ 451.21 million to US$ 549.85 million in July 2019. Both Government and private sector imports registered increases.

The report says Asia remained the main source of imports to Uganda in the month of July 2019, followed by the EAC, and the Middle East. China and India accounted for about 68.3% of the imports from Asia. Within the EAC region, Kenya and Tanzania contributed 98.5% of the total imports.

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Judiciary contracts foreign firms to design case management system

Symbol of Justice

Judiciary has signed US$2.5 million contract with Synergy International Systems Incorporated and Sybyl Limited for the designing, development and maintenance of the Court Case Management Information System (ECMIS).

The USD 2.5m deal was signed by the Permanent secretary in the ministry of justice and constitutional affairs, Pius Bigirimana at the judiciary headquarters in Kampala.

According to Bigiriman, the system will be accessible to all citizens anywhere and on all devices. “Online services for case filing, payments, automated reminders and free online access to summons and judgments. Online access to proof that a case is no longer eligible for appeal,”

The system will allow inter-court communication and case transfers and integration with external entities, such as the Civil Status and Passports Department and the Department of Lands and Survey, for the verification and exchange of data.

Under this system, major functionalities that will be covered in include registration, indexing, and follow-up of cases, generation and follow-up of notifications, management of Minutes of Hearing, hearing scheduling and security and decision management. Smart client, centralized reporting, and service-oriented architecture are the infrastructural specifications that make the system scalable and maintainable.

It will also help in the implementation of automated justice sector solutions and services improving judicial services by automating court processes, monitoring case activity, and supporting decision making to keep up with the rapid growth and change in the justice sector and to increase transparency.

Synergy International Systems, Inc. (Synergy’) is a global software company that empowers organizations to become more data-driven in achieving their impact.

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Of Matembe’s memoir, Museveni and his enablers

DONT GAG UGANDANS KAYIHURA TOLD! Woman and human rights activist Miria Matembe.

By Norbert Mao

As Brecht put it in his play “The Caucasian Chalk Circle”, “a fart has no nose.” The stench around the Museveni Court now seeps through the pages of books written by courtiers turned dissidents who feel used, abused and discarded. These people now pouring their hearts out were once the enablers who faithfully served the man they now vilify. The days of hope, elation and exhilaration are vividly captured before it all evaporates as despair sets in. Every person gets to a point when they encounter the Truth on the proverbial “Road to Damascus”.

Before Miria Matembe’s memoirs, The Struggle for Freedom and Democracy Betrayed, was launched last week there were other confessional books that put Museveni in the dock. I recall “Impassioned for Freedom” by Eriya Tukahirwa Kategaya launched in 2006. Then there is “Betrayed By My Leader: The Memoirs of John Kazoora” launched in 2013. In an uncanny wordplay, Matembe takes her title from President Museveni’s book “Sowing the Mustard Seed” whose subtitle is “the Struggle for Freedom and Democracy in Uganda”. Matembe simply added the word “Betrayed”. The theme of betrayal runs like a thread through these memoirs.

Betrayal comes as a result of breach of trust. Whether it is Kategaya, Kazoora or Matembe, it is clear that they were once true believers in Museveni. They lionized him as a Messiah. They believed he could do no harm to the institutions of State and indeed the Constitution that was crafted through such a painstaking process.

These books show growth in the authors. A new awareness of things going wrong while the praise singers bury their heads in the sun. From state inspired violence, corruption, nepotism, the national divide, hostility to democracy, personalization of the army to the entrenchment of a life presidency, Matembe’s book replays dramatic personal encounters with Museveni and his inner circle.

The first encounter is with the First Lady Janet Museveni. Believing she was her confidant Matembe often spoke plainly to her. But with time she learnt the hard way that access to the First Lady came with certain conditions including silence about the misdeeds of certain key figures (mainly relatives, friends and in-laws) in government.

On the question of Museveni leaving power, Matembe had an intimate talk with the First Lady. After the 1996 elections the First Lady told Matembe that with such overwhelming electoral victory her and her husband were going to retire in order to rest. Even when pressed that Museveni was entitled to another term, the First Lady replies “Mbwenu hati ekindi nituba nitwendaki?” (What else would we want?).

Then there’s the encounter with Museveni over the term limits. Museveni had been very tactical and cagey in his answers always saying that he would obey the constitution. He already had plans to change the constitution anyway.

Characteristically Matembe had warned Museveni against changing the constitution. A cartoonist captured the image of Matembe ordering the President. Museveni rebuked her for ordering him around and restated his commitment to abiding by the constitution. He demanded that she writes to the newspaper clarifying the matter.

Matembe indulged the President. She writes: “Immediately after the Cabinet meeting, I wrote the letter to the editor, New Vision. It was published the next day with a heading: ‘Cartoon creates a wrong impression’. In the letter I wrote that: “The cartoon created a wrong impression about the President, imputing that the President wants to amend the Constitution to remove the presidential term limits. President Museveni knows the Constitution very well and he does not need anybody to remind him to stick to it. So he will honour the Constitution and will not in any way violate or abrogate it.” She made a losing bet!

Reading these memoirs, one is shocked first by naïveté of the authors and then by their complicity. They put all their sense of skepticism in abeyance. You can call it voluntarily gullibility. Why do Museveni’s enablers let him get away with so much? There must be many reasons for this level of complicity, but I’m sure they range from the noble to the despicable.

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