The Deputy Chief of Defence Forces Lt Gen Wilson Mbadi has flagged off a total of 1828 officers of UPDF to Somalia. The flag off took place at Singo Peace Support Operation Centre in Nakaseke District.

In his remarks, Lt Gen Mbadi while expressed gratitude to the partners that have supported the UPDF in its pre-deployment training and praised the team now under a new name of Global Peace Operation Initiative (GPOI) for a job well done.

He lauded the UPDF instructors for equally keeping the standard of both the centre and the training to international standards.

While counseling the troops, the Gen Mbadi applauded them for perseverance and the hard work they have exhibited throughout their stay at the center.

he remind them not to sleep while on mission but work harder than ever before to consolidate their predecessors’ achievements in Somalia., “implore you to save mission allowances with the UPDF SACCO, and use it well to prepare for their future retirement journey.”

“You have left Uganda to go and add a productive stone in the stability of Somalia which will in the long run add to the total stability of the African continent. Strive harder so that those who judged us by our heights will remember the depth from where we started the mission”, he said.

The Deputy Commander Land Force Maj Gen Sam Kavuma urged the soldiers to put Patriotism, discipline, and good fighting at the fore front as they execute their duties in Somalia since they are pillars that make UPDF stand tall as a Force on the continent.

Maj Gen Kavuma lauded the Ministry of Defence and Veteran Affairs and UPDF leadership for the continued support given to the Centre which has helped it to strive to greater heights.

“It is in the mandate of Commander Land Forces docket to mobilize for PSO center, but nevertheless, it takes full responsibility of the soldiers to be resilient and perform as expected during the training, I congratulate you for that,” he said.

He advised them to carry forward the discipline, Patriotism, Pan-Africanism mantle and the respectable fighting skills into the mission area, everything else will run smoothly.

Gen Kavuma commended the troops for appreciating the services of Wassco and reminded them that WAZALENDO is growing faster than any other SACCO in the country and to match its speed, soldiers should push up front with it by not getting and investing loans in what he referred to as liabilities but rather in assets that are income generating.

The outgoing Commandant PSO Singo Brig Jackson Bakasumba told the troops that they have been ably trained and was satisfied with their readiness. He asked for nothing else but exceptional performance. He handed over the troops to the Deputy CDF for official deployment into the mission.

There are over 20 commercial banks in Uganda in addition to other financial institutions that serve the population of Uganda and we appreciate the commercial entities for their services as they do business with the population and government.

However, it is common knowledge that when these institutions land in trouble, they don’t want the media to report about those troubles on the pretext that the so-called negative stories will affect their businesses and the economy at large. Unfortunately no commercial bank or any other entity has come up with a report on how the so-called media coverage has negatively impacted their operations.

Case in point is the Dfcu bank which has had its considerable share of media attention due to the bad deals the bank got involved in. For instance the deal in which Dfcu bank acquired its rival Crane Bank Limited (CBL) on January 25, 2017 was not a fair deal as parliament’s committee on Commissions State Authorities and State Enterprises (COSASE) established during the probe of Bank of Uganda (BoU) over the controversial closure of seven banks.

During the COSASE probe BoU officials stated that the sale of CBL and Global Trust Bank Uganda (GTBU) had part of the process done on telephone and the MPs on COSASE said it was unfair for Dfcu bank to acquire the affected in such transactions. It was also established that some documents related to the transaction were missing and neither BoU nor Dfcu bank officials could provide them, including minutes of the meetings.

The COSASE probe also said that it was unfair for BoU to inject in CBL Ssh478 billion of taxpayers’ as liquidity support but then end up selling CBL to Dfcu bank at Shs200 billion, moreover paid in installments. In fact MPs said that transaction was more of a gift to Dfcu bank. BoU also sold both banks to Dfcu bank well knowing that its staff (BoU) would benefit as they hold some share in that business. MPs said that was conflict of interest and BoU Governor Emmanuel Tumusiime-Mutebile accepted it was a mistake. At the time BoU sold (GTBU) to Dfcu bank in 2014, Dr. William Kalema happened to be on the board of BoU and at the same time on the board of Dfcu bank. The MPs still condemned it also as conflict of interest.

Still Dfcu bank of recent has been a target of robbers in the recent times and yet the bank managers feel offended when the media report on such robberies at the bank. The recent is the hacking incident where billions of Ugandan shillings is suspected to have been stolen and the bank has reported the case to police.

Even when some shareholders in particular CDC wanted to sell its shares and the media reported about it, Dfcu bank managers said it was not true yet the letter from CDC said otherwise. Dfcu kept on saying that media reports were false, aimed at tarnishing its image.

It is surprising that Dfcu bank and the umbrella organisation, the Uganda Bankers Association do not want journalists to report about such facts. Such reports are meant to help bankers up their game and ensure corporate governance which today is one of the cornerstones of any business. Such media reports are also aimed at making government help banks operate smoothly, creating stability in the sector in the long run, thus creating investor confidence.

Uganda Bankers Association (UBA) lasted year said that there had been persistent negative reporting about the banking sector by some sections of the media but it did not mention the exact crimes the media was committing. UBA at the time was defending Dfcu bank though it failed to mention the name.

It said that the targeted and calculated negative reporting about the banking sector had the potential of undermining confidence in the industry and risks triggering undesired panic with unintended adverse consequences for the economy. UBA as an umbrella association should instead promote the spirit of transparence and good governance within the banking industry. UBA should also come in to help struggling members, had they intervened in CBL for example maybe it could have been saved.

UBA last year said, the banking sector had in the previous couple of years witnessed overall growth with month end deposit balances averaging Uganda Shillings 20 trillion from Shs14.7 trillion in 2015, with liquidity instruments (cash or near cash) above Shs7 trillion and bank accounts now close to 11 million up from 6 million in 2015 indicating confidence in the sector.

It said the banking and overall financial sector was stable and resilient, however maintaining stability remains a responsibility for all of us and not only the regulator and financial institutions.

So, the media shouldn’t be killed for telling the true message but rather be praised as it highlights on the wrong doings happening in the banking sector. It is actually the role of the bank managers to tighten their internal systems so that the so called ‘hackers’ if not internal dealings to reoccur.