Stanbic Bank
Stanbic Bank
27.2 C
Kampala
Stanbic Bank
Stanbic Bank
Home Blog Page 1468

First Lady Janet Museveni congratulates Uganda Cranes

First Lady Janet Museveni

The first lady of Uganda, also the Minister of Education and Sports Hon. Janet Kataha Museveni has congratulated the Uganda National football team upon the back to back victories over the Lesotho national football team in the group L 2019 Africa Cup of Nations qualifiers.

Uganda Cranes beat Lesotho 3-0 and 2-0, in the home and away matches respectively, to move one point closer to the Afcon tournament in Cameroon 2019.
A brace from Emmanuel Okwi and a Farouk Miya penalty were on target in the Namboole game while Miya netted both goals in the return leg in Maseru.

Cranes will seek to seal qualification when they return to action next month, on 16th November 2018 against Cape Verde at the Mandela National Stadium.

The First Lady’s full message:

I must begin by thanking God for his goodness and for empowering our boys and leading them as we now see. Then, of course, I congratulate them for emerging victorious during the 2019 Africa Cup of Nations (AFCON) qualifier return match against Lesotho 2-0 on Tuesday, 16th October 2018 in Lesotho, after the previous win of 3-0 at Mandela National Stadium on Saturday 13th October 2018. Our national team’s performance has been very impressive putting us on the verge of qualifying for the 2019 AFCON Championships due in Cameroon.

On behalf of Government, my Ministry and all the people of Uganda, I salute the Uganda Cranes, Coach Sebastien Desabre and his Technical Team, FUFA, National Council of Sports, and the fans for the observable progress we have registered in performance and development of Ugandan football, and indeed Ugandan sports in general.
As we celebrate our recent performance, I call upon the players, technical officials, fans and supporters to remain humble, focused to the very end. For I believe that this is merely the beginning, the best is yet to come.

In a very special way, I thank the President of Uganda, Cabinet in its entirety and Parliament for supporting sports in general, but the president especially for providing quick means of transport to Lesotho and some support for our pocket expenses to the team. We, at the Ministry, remain committed to provide all the prayer back up, logistical and financial support to Ugandan sports teams within available resources.

May I wish the Uganda Cranes team, continued blessings and a successful AFCON 2019 qualification campaign, therefore, as we look forward to an even brighter future for Ugandan sports.

God Bless us all!
Janet K. Museveni
FIRST LADY AND MINISTER OF EDUCATION AND SPORTS

Stories Continues after ad

Katamba resigns from Housing Finance Bank, heads to Dfcu

Mathias Katamba, Dfcu bank MD

Mathias Katamba, the Managing Director of Housing Finance Bank has tendered in his resignation letter to the board, Eagle Online understands.

Mr. Katamba’s resignation is not effective now but he is scheduled to hand over office in January next year which is provided for in his contract.

Days ago Eagle Online reported that Dfcu board of directors had agreed on Katamba as the incoming MD, to replace troubled Juma Kisaame who is expected to leave the bank at the end of his contract.

Following internal differences within Dfcu Bank, William Sekabembe who turned down a job offer at Kenya Commercial Bank (KCB) as Managing Director, hoping to be given the top slot at Dfcu Bank, now has no chance of being at Dfcu. Sekabembe declined the job offer in a letter dated September 5, 2018.

It is said that in process of luring him to remain at Dfcu, the board and top management increased Sekabembe’s salary from Shs38 million to Shs56 million per month on top of a promise that he would replace Kisaame, but now this won’t happen, Katamba having accepted to join Dfcu as MD.

Eagle Online also understands that the top managers at Dfcu are stashing money on various banks accounts, following recent reports that there was a planned investigation aimed at BoU top managers as well as those in commercial banks. In the same spirit, several properties that had been registered in the troubled officials names are being changed to other holders to avoid inside inquiry from shareholders.

Before zeroing on Katamba, sources said there had been two camps created among the shareholders, one led by DFCU Ltd board chairman Elly Karuhanga and Dfcu Bank board chairman Jimmy Mugerwa insisting on current MD Juma Kisaame and the other camp-mainly led by 58.71 majority shareholder Arise BV and Britain’s CDC Group favouring William Ssekabembe for job of MD but now as events have turned out Katamba loses the job as Kisaame exits to look for opportunities elsewhere, especially following the controversial purchase of Crane Bank in January 2017.

DFCU Shareholding percentages
Arise BV 58.71 per cent
CDC Group of the United Kingdom 9.97 per cent
National Social Security Fund (Uganda) 7.69 per cent
Kimberlite Frontier Africa Naster Fund 6.15 per cent
2 undisclosed Institutional Investors 3.22 per cent
SSB-Conrad N. Hilton Foundation 0.98 per cent
Vanderbilt University 0.87 per cent
Blakeney Management 0.63 per cent
Retail investors 11.19 per cent
BoU staff retirement benefit scheme is 0.59 per cent

Stories Continues after ad

IGG zeros on Kasekende’s wife over Shs1.6b from Chinese company

Ms Edith Kasekende

Leaked bank documents show that the wife of the Bank of Uganda (BoU) Deputy Governor, Louis Kasekende, Edith transacts billions of shillings on her bank accounts and investigators are interested in finding out the sources of that money.
Her husband and host of other top officials at BoU are under investigation for their wealth.

Edith runs an Easy Go account at Stanchart Bank number 0100111660500, which is used to transact hundreds of millions of shillings.

However, investigator are working to trace the source of this money which is transacted through her account, because she is not known to own any business venture that can accrue several millions of shillings within a short period of time.

A source at the Bank says Edith receives questionable deposits of Shs1.6 billion from BoU which she pays back after making a profit. A source says Edith and other people, including her husband Kasekende could be using BoU’s liquid cash to boost their daily businesses and then send back the money back before it is detected.

The sources also say Edith received Shs1.7 billion from China Railway Seven CRSG Company and Shs394 million from Arnold Masembe, which is suspected to be payment from BoU lawyers.”

Her bank statement indicates that between January 5, 2017 and May 17, 2018, she received another Shs6447 million from an unknown source and Shs421 million from Bank of Uganda. Between the same dates she deposited Shs415 million and Shs383 million respectively, and another Shs120 million and Shs394 million, even though the source of this money remains unknown.

The sources at the Inspectorate of Government went on to reveal that: “There are large sums of cash deposits from unknown people, yet her property, as declared by the deputy governor BoU doesn’t match up to her bank transaction.” It is suspected Edith could be receiving hundreds of millions of shillings each year through or from questionable sources, reason why she has become a point of interest for investigators into the alleged multibillion fraud that is being perpetrated by officials at BoU.

Stories Continues after ad

China gives Uganda loan to connect over 170,000 consumers to power grid

Rural electrification

Uganda and China have signed a concessional loan of about US $212.7 million to be used to connect 172,589 consumers in unserved sub-counties countrywide through the Accelerated Rural Electrification Programme.

Finance Minister Matia Kasaija signed on behalf of the Ugandan government while Chinese Ambassador to Uganda, Zheng Zhuqian signed on behalf of the Chinese government. Zhao Xiufen, Economic and Commercial Counsellor, Embassy of the People’s Republic of China witnessed the signing alongside Ugandan officials.

The money will be used to construct 3839 km of medium voltage networks and 5921 km of low voltage networks, install and commission 3403 distribution transfers as well as install and connect 168,335 single phase consumers and 4,254 three phase consumers.

“On behalf of the Republic of Uganda I want to extend our heartfelt gratitude for the continued beneficial and cordial bilateral cooperation between Uganda and the People’s Republic of China not only for the support we are signing today but also in other areas like Roads, Energy, Health, and Education,” said Minister Kasaija.

He said Uganda’s electricity rural network coverage is still quite low with only about 10.6 per cent in 2014. He said that under the Rural Electrification Strategy and Plan for the ten-year period of 2013-2022, government plans to increase the rural electrification access rate to 26 per cent by 2022 and to 51 per cent by 2030 to realize the universal electrification of 100 per cent in rural areas by 2040.

He said Government has also set-out to extend clean and modern electricity to all citizens by 2040. “To achieve this, it’s planned that at least 30 per cent of all citizens should have access to electricity by 2020. It’s my pleasure to inform you, your Excellency that this project will in no doubt enable Government attain the targeted milestone,” he said.

The minister appreciated China for the previous and ongoing technical and financial support to the Government of Uganda mainly in the Energy Sector such as the financing to Karuma and Isimba Hydropower projects as well as the associated transmission lines, the Kampala-Entebbe Airport Expressway and the upgrading and expansion of the Entebbe International Airport phase 1 project.

Stories Continues after ad

Gov’t to train, equip 3000 Police Officers with CCTV management skills

Government is set to train and equip 3000 Police Officers with Closed-circuit television (CCTV) management skills to handle the ongoing national safe city CCTV project.

The Shs60 billion project is supposed to help police to track criminals, started on July 16, is being rolled out in phases. Over 3230 cameras are expected to be placed in Kampala metropolitan areas which cover the biggest percentage of Uganda’s population.

All the action will be in Kikwandwa military facility in Kakiri, Wakiso district where a multi-billion ultra-technology facility is being constructed which began with a construction of an ICT Centre.
Early this month president Yoweri Museveni inspected CCTV project at Nateete Police Station in Kampala where he revealed that with the installation of cameras, the problem of urban insecurity perpetuated by armed assassins riding boda-bodas will soon be solved.

According to CP Yusuf Sewanyana, Deputy Director Information Communication Technology, about 3000 monitoring agents in different categories like operators, traffic, field officers, command and control, technical engineers, computer scientists and technicians will be trained to manage the day to day operations of the system and its maintenance.

“We shall train specialists in power management, video analysis, artificial intelligence, machine language,” Sewanyana said.

He noted that some officers are already receiving practical training in installing equipment in data centers, aligning fibers, installing monitor walls and cameras.
Speaking to some trainees at Natete Police Station, AIGP Haruna Isabirye, Director Human Resource Development said, officers have to be committed if the national CCTV project is to be a success.

“Grasping the objectives of this project, understand the concept and be committed, it’s a multiplier effect where these machines will help us in easy policing and fighting against crime, investigations , response detect and prevent crime, “He said, adding that they should be competent and have good attitude to manage the system.
Installation of cameras is proceeded by the gruesome killings of people that was recently exhibited in the country.

Stories Continues after ad

Uganda-Tanzania good relationship to boost investments

Amb. Richard Kabonero

The good economic cooperation between Uganda and Tanzania is important in boosting trade and investment opportunities in the East African region, according to a high ranking official.

This comes as the two countries continue to strengthen their bilateral relations to open new possibilities of doing business and expanding their GDP as well as economic performance in the regional bloc.

For instance, the recently signed Uganda – Tanzania Joint Permanent Commission (JPC) Ministerial Meeting is a fundamental factor in improving the ease of doing business between the two parties. During the second phase of the summit held in Kampala, Uganda both countries finalized matters concerning the energy sector signing the Memorandum of Understanding (MoU) to support the industry.

The JPC is a potential platform for enhancing and consolidating bilateral cooperation frameworks between the two countries. It brings together companies and business people from both Tanzania and Uganda consisting of manufacturers, importers, exporters, clearing agents and transporters to discuss opportunities for trade between the two countries, and identifying challenges to be resolved.

According to Uganda’s Ambassador to Tanzania Richard Kabonero, the signing of critical agreements covering trade, and railways between Uganda and Tanzania increased cross-border trade and reduced the cost of doing business. The gesture should be bait to lure more investors into seizing the opportunities available for business.

Recently Tanzania’s Communications Minister Harrison Mwakyembe praised Uganda’s relations with Tanzania which he said “continue to grow from strength to strength” as evidenced by landmark bilateral trade agreements signed recently. They have experienced healthy trade relations with historical linkages over the years.

President Yoweri Museveni and President John Pombe Magufuli are both steering the economic development of their states by facilitating trading activities. Trade, security, education, agriculture, and energy are the main areas of investments with the potential to escalate their economic outlook in the future.

The Uganda–Tanzania Crude Oil Pipeline (UTCOP), the latest investment in the energy sector is planned to have a capacity of 216,000 barrels of crude oil per day. The $3.5 billion worth East Africa crude oil project has the potential to increase the flow of foreign direct investments in East Africa which could increase the competitiveness of the regional market.

Both presidents have gone all out to ensure the stability and sustainability of their nations as long they are on the helm. They have emphasized business incentives and better business environments to attract foreign firms and support the local sectors to boost productivity to boost export receipts.

Their commitment is geared at benefiting the East African community as well by bolstering its economic output. The region is a luring investment region to various investors.

Tanzania exported $62.2 million worth of goods to Uganda in 2013 while Uganda shipped $62.6 million worth of goods to Tanzania the same year. Looking at the neighboring state, Kenya’s s total food exports to Ugandarose to a record $15 million while its exports to Tanzania was $424.19 million during 2013, according to the United Nations COMTRADE database.

Stories Continues after ad

Ugandan goalkeeper nominated in Kenya Premier League Awards

Goalkeeper Mathias Kigonya.

The Kenya Premier League has today released the nominees for the 2018 SportPesa Premier League awards in twelve different categories.

Ugandan shot stopper Mathias Kigonya has been nominated in the category of the Golden glove award, also known as the best goalkeeper of the season for his heroics at Sofapaka FC last season.
Kigonya will face competition from Bandari’s Faruk Shikalo, Tusker’s Patrick Matasi, Kelvin Omondi of Sony Sugar FC, and Ezekiel Owade of AFC Leopards.
The Golden Glove winner will pocket Ksh 500,000, while the first and second runners up go home with Ksh 300,000 and Ksh 200,000 respectively.

The Cranes goalkeeper is the only Ugandan player nominated in the 12 categories shortlisted.
Kigonya ditched Sofapaka FC this month due to unclear circumstances and has already been linked with a transfer move to AFC Leopards.

The twelve categories include; MVP of the year, Golden Glove, Defender of the Year, Midfielder of the Year, Fairplay player of the year, Golden Boot, New Player of the year, Coach of the Year, team manager of the year, Most Improved Center Referee, Most Improved Assistant Referee and Fairplay Club of the Year.

The KPL Awards, also known as the KPL Footballer of the Year Awards (FOYA), refer to an awards ceremony held to honour association football players, coaches and officials participating in the Kenyan Premier League.

This year’s Awards gala will be held at the Kenya School of Government on Thursday 25th October.

Stories Continues after ad

Former Museveni minister praises Obote for running effective gov’t

Prof Semakula Kiwanuka

The former Minister of State for Finance, Planning and Economic Development (investments), Prof Matia Semakula – Kiwanuka, has praised the former president of Uganda Dr Apollo Milton Obote for what he said running an effective government.

“Obote’s government was visible,” he said, adding that government policies during the Obote regime were effectively implemented.

Prof Kiwanuka made the remarks yesterday during the 9th National Competitive Forum organised by the Ministry of Finance’s Directorate of Economic Affairs (DEA) to engage with the private sector, the civil society, academia and development partners on matters affecting Uganda’s business environment and drivers of enterprise growth and competitiveness.

The former minister said the current government has good policy documents in place, but the challenge, he said, it is not implementing them to boost various sectors of the economy. He said that unless government develops and implements appropriate policies, Uganda will find it difficult to move from the first industrial revolution characterised by subsistence agriculture.

Contributing to the debate, the former Minister of Agriculture Victoria Sekitoleko said Uganda’s problem is the problem of irrelevant education that does not meet the demand of the job market. She said government can address that challenge by prioritising agriculture as well as vocation and business education starting with the nursery school level.

Sekitoleko also urged government to train staff and politicians in districts on business matters, saying currently commercial officers are not doing enough to boost business enterprises in their localities.

However Elly Karuhanga, Chairman Uganda Chamber of Mines and Petroleum argued that there is need to rethink the whole of government’s organizational structure if the country is to move forward in business readiness. He said that compared to the Kenyan Cabinet which has a considerable number of businessmen, the Ugandan Cabinet is mostly full of politicians who don’t understand how business is run and that this is a disadvantage to the development of an entrepreneurial class in Uganda.

Karuhanga also added that parliament is full of politicians and that there is too much fear within the public services which discourages some technocrats to make right policy decisions that can help the country prosper in business. “With fear no one is able to take a decision,” he said, adding that some technical staff have to wait for their superiors such as ministers or the president to take a decision they should have taken and that this consumes time and kills business.

He said that because many government agencies involved in Uganda’s oil and gas sector, there is delay in making decisions and that with such kind of arrangement where there is the Ministry of Energy, the Attorney General, Uganda Petroleum Authority and the National Oil Company, it is unlikely that the country will drill oil by 2020 as scheduled by government.

The former Chairman of the National Planning Authority (NPA) and also a former minister in Museveni’s government, Prof. Wilberforce Kisamba Mugerwa said that currently Uganda lacks efficient institutions with patriotic workers and that this challenge should be addressed especially to ensure that there is coordination with government departments. “The challenge we have is that each department wants to shine alone,” he said.

The delegates at the forum ended by listing recommendations that help boost entrepreneurship and business in Uganda. They include; harmonization of service delivery across government agencies, empowering higher and lower governments with financial literacy and technical skills to deliver results and need to address micro lives issues related to competitiveness, among others.

Stories Continues after ad

Bobi Wine’s Kyarenga Concert rescheduled to November

Bobi Wine

Kyadondo East Member of Parliament, Robert KyagulBobi Wine’s music show dubbed as Kyarenga Concert has been given green lights following hide and seek games played by both police and the management of Namboole stadium.

The agreement was however, reached at yesterday between the management of Namboole stadium and Emma Promotions and marketing agency and the show has been rescheduled to November 11, 2018 starting from 6: 00am to 10: pm.
Earlier this week, a letter purported to have been written by the management of Namboole stadium hit social media asking for reschedule of the concert. In a statement released on Monday, Bob Wine said they are only learning it on social media but the letter had not reached their desk.

He said they had agreed with the management and made some deposit on the venue however, on getting clearance from police, they has been tossed from one office to another.

And, Yesterday in a letter written by AIGP Asuman Mugenyi implored Emma Promotions and marketing agency to call off the concert saying the management of Namboole stadium has not notified police about the concert the was due to take place this Saturday.
According to agreement, Emma Promotions and marketing agency will be required to pay Shs32million to hire the venue.

Stories Continues after ad

KCCA Patterns with WFP for Zero Hunger campaign

El Khidir Daloum

Kampala Cpital City Authority has entered into partnership with World Food Program to work on joint capacity peddled at strengthening food security and vulnerability assessments in urban areas.

The study will investigate how poverty and rapid urbanization impacting on food security and all forms of malnutrition among the poor, as well as the well-off households in Kampala who are increasingly faced with obesity or over-nutrition.

According to KCCA Executive Director Jenifer Musisi, the two parties have been undertaking a ground-breaking survey through the Makerere University School of Public Health, to investigate the nature and magnitude insecurity and rising rates of malnutrition.

She said, the partnership is preceded by the shooting number of people arriving in the city to looking for work and finding themselves squeezed into settlements where basic social services are limited, poor sanitation and, as result, their children are prone to infections and ill health.
“This is exactly what we were looking for, scientific evidence that would guide our assistance to vulnerable households and our city strategic plan overall,” she said at KCCA offices.
Musisi said KCCA has been working with WFP since 2017 to discuss potential areas of collaboration, “We are happy about this program and I would like to thank the WFP for this great partnership with KCCA. We look forward to this project as we work towards zero hanger,” she added.

Country Director of WFP, El Khidir Daloum said their new partnership with KCCA is extremely important as it has pushed WFP into new territory for Zero Hunger and in supporting the Government of Uganda to achieve its development priorities.

Stories Continues after ad