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Kwese TV boss is Africa’s newest billionaire

NEW BILLIONAIRE: Zimbabwe businessman Strive Masiyiwa

Kwese Television boss and telecom tycoon Strive Masiyiwa has become Zimbabwe’s first billionaire. According to a report by Forbes, Masiyiwa, 57 is now worth $1.7 billion.

Masiyiwa controls Econet Group, a Zimbabwe-listed mobile phone company that also has investments in financial services, insurance, e-commerce, renewable energy, education, Coca-Cola bottling, hospitality and payment gateway solutions.

Econet also has a Pay television outfit, Kwesé TV, which is already competing favorably across Africa with Naspers’ DSTV. Shares of the company have surged in value over the past year. In July last year, Liquid Telecom, a subsidiary of Econet Group successfully raised $700 million in a bond and term loan financing package from international financiers.

Masiyiwa founded Econet in 1993, but was granted a telephony license by the Zimbabwean government in 1998, at a time when 70% of the country inhabitants had never heard a ringtone. He and his wife, Tsitsi, are the founders of the Higher Life Foundation which pays the school fees of over 40,000 students across the Primary, High school and Tertiary levels.

In February 2013, Tsitsi and her husband established the Ambassador Andrew Young Scholarship, a $6.4 million dollar scholarship fund that sends African students to attend the Morehouse College in the United States.

The fund is named after Ambassador Andrew Young, a former United States Ambassador to the United Nations, who is renowned for his vanguard role in the international Civil Rights Movement.

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Uganda: Rosebud dominates flower exports

Rosebud managers inspecting the gardens.

When Zimbabwe crumbled and halted dominating the export of flowers to Europe, Rosebud, Uganda’s largest exporter of roses commanding around 35 per cent of Uganda’s rose-export market, popped out to fill the gaps, according to the publication by the East African Business Week.

“Rosebud has a high regard for quality which has reinforced the company as the major resort in the Ugandan market for buyers across the world,” says director Meera Ruparelia. “The greenhouses cover a total of 42 hectares producing and exporting over 9 million stems per month.”

Commanding 40 per cent of the roses export, the company based in Entebbe, remains the country’s largest exporter of the product. The greenhouses on the farm covers a total of 50 hectares producing and exporting over 12 million stems per month.
Rosebud is owned by Uganda’s wealthiest businessman Sudhir Ruparelia

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T and M up lifts educational standards in Manafwa district

SUCCESS: The T and M Director Michael Tumwa

Despite the eastern region not performing well in the just-released 2017 Primary Leaving Examinations (PLE), candidates of T and M Bright Nursery and Primary School have excelled, emerging the best performers in Manafwa District.

Some of the best-performing candidates who scored Aggregate 6 at T and M Bright Nursery and Primary School

In the results which were released by the Ministry of Education and Sports in conjunction with UNEB, the school got 46 first grades out the 56 who registered, with the rest getting second grade.

According to the T and M Director Michael Tumwa, the success registered is a result of team work among parents, teaching and non-teaching staff and members of the surrounding community.

“The performance is excellent because it reflects an 80% rate so we feel very great because our pupils have done us proud by performing excellently in the district, region and whole country at large,” Mr Tumwa said.

PRODUCING EXCELLENT PERFORMERS: The T and M school complex

He also lauded the hard work and discipline exhibited by both the teachers and pupils, saying that had enabled them to cover the syllabus in line with national curriculum.

“I urge the parents to take their children to good secondary schools where they can have academic continuity given the back ground that they have acquired,” Mr. Tumwa said, and also urged parents to continue bringing their children to the school to get quality education.

 

 

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Kampala Parents School shines in PLE

Kampala Parents School has yet again marched to a top notch performance in the just-released 2017 Primary Leaving Examinations (PLE), with excited candidates, staff and parents storming the head teacher’s office to check results.

Stella Ainomugisha, who scored Aggregate Four celebrates with her father

The Naguru-based school owned by tycoon Sudhir Ruparelia registered 197 First Grades out of the 256 candidates who sat for the national exams last year.

The school produced over 50 pupils who scored aggregate Four and Five, with some of the candidates who scored Aggregate Four including Paul Ainemugisha, Paul Bagiire, Imran Kafumbe Shaham, Joel Mathew Songa, Calvin Isaiah Rwakibaale and Emmanuel Ocaya Nyeko.

PROUD PARENT: ICT Permanent Secretary Vincent Bagiire

“I am happy my son has made it to the school of his choice, Buddo (Kings College) and I thank Kampala Parents for providing good and quality education to our children,” said Information and Communications Technology (ICT) Permanent Secretary Vincent Bagiire, the father of Paul Bagire.

Fifty nine (59) pupils passed in second grade, with most candidates performing well in Social Studies (SST).

The Principal of KPS Daphne Kato (R) congratulates one of the candidates who scored Aggregate Four

The school’s Principal Daphine Kato said the teachers are happy because there is an improvement from last year, adding that almost all candidates will be able to join schools of their choice.

“I take any improvement very seriously and therefore we would like to thank our pupils, parents, teachers, Directors and all our stake holders for working together with us towards this success,” Ms. Kato said.

A parent congratulates her successful son

Over the years Kampala Parents School has registered improved performance, and last year it emerged one of the best schools in Kampala District.

A parent checks through the exam results list

The Ministry of Education and Sports in conjunction with the Uganda National Examinations Board (UNEB) today released the 2017 PLE results, with pupils improving in general performance.

 

 

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Angola sovereign wealth fund boss sacked

FIRED: Jose-Filemeno-Dos-Santos

Angola’s president, João Lourenço, has sacked the head of the country’s sovereign wealth fund, two months after he was named in connection with the Paradise Papers.

José Filomeno Dos Santos, the son of Lourenço’s predecessor, was fired six years after he was made chairman of the board of the Fundo Soberano De Angola (FSDEA) by his father.

Leaked files from the offshore services firm Appleby revealed how Dos Santos appointed a firm belonging to his friend, Jean-Claude Bastos, to manage the fund’s capital – who then invested hundreds of millions of dollars in ventures in which he held a personal interest.

One of the transactions was facilitated by Appleby despite the firm being aware of a serious conflict of interest. Appleby has insisted it did nothing wrong.

The management of the country’s sovereign wealth fund was one focus of the Paradise Papers investigation. It shed new light on the way money has been spent in one of the poorest and most corrupt countries in the world.

The Guardian revealed how Bastos, a Swiss-Angolan venture capitalist, was paid millions of dollars in fees for managing the FSDEA’s assets. Prior to receiving the management contract he ran an investment bank, where Dos Santos was a director. Dos Santos resigned the position and sold his shares upon becoming FSDEA chairman.

Last week the finance minister said the fund’s investment strategy was undert assessment in response to a question about the revelations in the documents.

Bastos’s asset management firm Quantum Global was appointed to manage the FSDEA’s capital in 2013. The appointment was controversial because of Bastos’s friendship with Dos Santos and the fact that Quantum received the contract without competitive tender.

Quantum Global said it was appointed to manage the FSDEA funds after successfully fulfilling a similar mandate for the Angolan central bank. It denied the relationship between Dos Santos and Bastos had played any role in its appointment.

Appleby set up seven offshore entities in Mauritius through which Quantum Global invested the Angolan funds. The Paradise Papers revealed how, in at least four instances, Quantum Global invested the capital in ventures in which Bastos held an interest.

In one case, $157m was spent on assumption of debt and cash payments to two other companies as part of an investment in a planned luxury five-star hotel in the Angolan capital, Luanda. The beneficial owner of both companies was Bastos.

One of Appleby’s compliance officers warned that a transaction related to the hotel “poses issues of conflict of interest”, but was overruled by an Appleby director on the grounds that Bastos had disclosed the interest and had not participated in a vote on the investment.

Bastos had however attended a meeting on whether to invest in the project and the Appleby director said he should refrain from attending such meetings in future.

Tom Keatinge, director of the Centre for Financial Crime and Security Studies at the Royal United Services Institute, told the BBC that Appleby had “provided the client with the answer that he wanted”.

“It’s hard to believe that just because he abstained from the voting, his views were not well understood by the meeting. So it’s a scurrilous approach in my view,” he said.

Bastos told the Guardian: “We do not view these investments as conflicted. We view these investments as having aligned interests. All shareholders’ interests are aligned for the growth and ultimate success of every investment.”

Appleby refused to comment on its conduct or that of its clients. It has sued the BBC and Guardian over their reporting of the Paradise Papers. It argues there was no public interest in any of the reporting.

Dos Santos’s dismissal from the FSDEA is the most recent in a series of sackings by Lourenço directed against family members installed in public positions by his predecessor.

In November last year Dos Santos’s sister and Africa’s richest woman, Isabel Dos Santos, was sacked from her position as head of the state oil company, Sonangol.

Two of the younger Dos Santos’s children have also had contracts to manage state TV cancelled, according to Bloomberg.

 

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Travel don’ts you should leave in 2017

The Jumia Travel Awards Invite

By Cynthia Tumwine

1. Last minute planning Travelling is meant to be fun and even though it’s for business, it should not be hectic. Last minute planning for a trip can be very stressful and ruin your entire travel and therefore that is something to avoid in the New Year. Ensure the hotel is booked in advance and all items to be carried are packed in time to avoid doing it hastily and forgetting important items. 2. Carrying large sums of cash while travelling Proper budgeting for a trip is key. Carrying large sums of money can lead to over spending and sometimes unfortunately theft. It’s always better to carry enough money to cover your whole trip comfortably than having excess cash. 3. Saying travel is too expensive Travelling creates fun memories and experiences. People always complain that travel is expensive which an attitude that is not necessarily true is. Lately a lot of group travel has been encouraged in Uganda for example that subsidizes the cost of travel. Another way to get great travel deals is by looking out for packages. You can check out some amazing ones already up on Jumia Travel. 4. Disrespecting the culture of the destination you have travelled to Many people experience a lot of problems by not researching the culture and traditions of the destination they are heading to. As a result this may ruin an entire trip. Common is dress code for example; Middle Eastern countries are conservative and therefore one has to dress conservatively while there so as not to offend anyone. 5. Travelling without proper legal documents One should always ensure all legal travel documents are prepared on time. Make sure you have your passport close by, National I.D and Driver’s license if you plan to rent a car while in a foreign country. Let’s get travelling.

The writer is the PR Manager at Jumia Travel Uganda

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Over 2,000 withheld as UNEB releases 2017 PLE results

Prof Mary Okwakol, the UNEB Chairperson.

Uganda National Examinations Board has this Friday afternoon released the Primary Leaving Examinations (PLE), with 2,559 being withheld as result of reported assistance to the candidates by teachers.

According to UNEB Board Chairperson Professor Mary Okwakol, there was a 90% increase of pupils passing the PLE, compared to 87% last year.

She added that this year boys performed better than girls, with 32, 120 boys getting First Grade, against 25, 078 girls, while total enrollment stood at  312, 695 for boys and 333, 494 for girls, bringing the cumulative total to 646,189 pupils.

Further, according to Prof. Okwakol, there was increased poor performance by schools from parts of Eastern Uganda districts like Kween, Bukwo, Tororo, Kayunga, Mbale, Badaka, Buvuma and some central districts like Kayunga and Buvuma.

The best performing districts were Kampala with 7,745 candidates in first division, followed by Wakiso with 4,370 in first division, Kiira Municipality with 1,881, Nansana municipality, Mbarara Municipality, Mukono Municipality, Masaka Municipality and Rakai district.

In her speech the Minister of State for Primary Education Rosemary Sseninde noted teacher absenteeism is the major cause of the difference in performance between rural and urban schools.

She also noted that poor attitude of parents and pupils had led to an increase in failure rates in the rural areas.

PASSED: Jane Dade Nabutere is 12 years. Her mum, Getu Bambuya, is a teacher and her dad, Wabwire Charles, a civil servant. She joined Bridge Malaba in Primary Five. She completed her PLE scoring 9 aggregates including Math 3 English 2 Science 2 SST 2 . She wants to be a civil servant when she grows up and her dream is to become a Minister! She has been top of her class for the time she has been at Bridge. Her favorite subject is English.
CELEBRATING: Jane Dade Nabutere

“Children are not given food in village schools like their counterparts in urban centers which makes learning on empty stomach difficult hence the cause for failure,” Sseninde said.

The Minister for Education Janet Kataha Museveni decried the increase in examinations malpractice and emphasized that there are plans to amend the UNEB Act, to hold those culpable to account.

The Minister also revealed that the selection of Senior One students will take place on January 24 and 25 at UMA show grounds.

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Nabeta thrown out of Parliament

OUSTED: Former Jinja East MP Nathan Nabeta Igeme

The Jinja East parliamentary seat hitherto held by Nathan Igeme Nabeta has today been declared vacant by a panel of three appellant court judges.

In 2016 Nabeta was declared as the duly elected Member of Parliament by the Jinja district returning officer Anthony Mwaita, who was later forced to resign after he postponed the declaring of the winner of the elections, and replaced by Sserunjogi Rogers.

And following a petition filed by Paul Mwiru, citing violence and breach of electoral laws, the Jinja High Court declared him as the MP.

The discontented Nabeta however, moved to the Appellate Court seeking redress, faulting the Electoral Commission for failing its duty.

But in their ruling read by the deputy registrar Tadeo Asiimwe, the three appellate judges: Steven Kavuma, Richard Butera and Paul Mugamba ruled that Nabeta was wrongly declared MP in the 2016 elections.

‘’Upon that, we declare Jinja East constituency seat vacant, therefore fresh elections should be conducted,” the Deputy Registrar Asiimwe said.

Mr. Nabeta is one of the 317 legislators who recently voted in favour of age limit bill despite his electorate cautioning him against the move.

The controversial bill that lifted both the upper and lower presidential age limit capped at 75 years and 35 years, was signed into law by President Yoweri Museveni on December 27, 2017.

 

 

 

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Opposition MPs want gov’t officials stripped of cars

WANTS CARS TAKEN AWAY: Kiira Municipality MP Ibrahim Semujju Nganda

Plans are in the offing by a section of opposition MPs to strip all public servants of cars, in a move aimed at ‘saving the nation from exorbitant expenditure’.

Spearheaded by Ibrahim Semujju Nganda, the Kira Municipality MP, the group tabled a motion seeking Parliament to review the policy of provision of vehicles to Government, Public and Civil servants.

In the motion, Semujju Nganda wants the vehicles to be saved for the President, Vice President, Speaker of Parliament, Deputy Speaker of Parliament, Leader of the Opposition in Parliament, Chief Justice and Deputy Chief Justice, Government and have the provision of cars to the rest abolished.

The legislator also demanded to have government sell all its current fleet of vehicles to the current users at the current value. Additionally, the MP also wants that in case the current users aren’t in position to buy the vehicle, Government should immediately auction it.

Instead of having tax payers pay for the vehicles of the public and civil servants, Ssemujju Nganda wants Government to extend car loans to entitled public servants, and any loan taken should be recovered from the salary and allowances of the individual officer over a period of four years.

If adopted, the new plan will ensure that loans are also extended to teachers and medical workers to acquire cars.

While supporting his motion, Semujju Nganda noted that the need to review the vehicle provision was as a result of the number of leaders such as Ministers, MPs, Local Council V Chairpersons and Presidential Advisors, Local Governments, RDCs, Civil Servants that has drastically increased.

He noted that the matter has worsened with the increase in number of Commissions, Authorities and State Enterprises that has also increased, requiring Government to spend billions of shillings on motor vehicle purchase annually.

He cited a case in which Government is set to spend She185 billion and additional Shs99 billion on the purchase and maintenance of vehicles, fuel, oil and lubricants.

The motion that was seconded by Wilfred Niwagaba and Latif Ssebagala is set to be debated when Parliament resumes business on January 30, 2017.

 

 

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Barbie Jay joins Apass – Geosteady fight

IN FIGHTING MOOD: Musician Apass

We have reported about the brewing verbal war between musicians Apass and Geosteady. Well, the fight appears to have expanded with other players joining in, the latest person being ‘Sumbusa’ hitmaker Barbie Jay alias Nsolo Nkambwe.

He is furious with Apass for comparing him to Geosteady.

“Banange am sorry to reply this “Young Urban Excited boy” Bagonza (Apass) aka Comedian. Nze ndi Nsolo Nkambwe. I am a tough animal. You bringing my brother Geosteady in my forest is wrong… I might end up eating him up like a little chicken, at least you would have called Yiya Moze for him they match…….” he advised.

On Tuesday, Apass came out in a post on social media daring his colleague Geosteady to battle him.

“Geosteady Blackman you can’t ask to battle me, I can’t battle with a small fat little man. You are not on my level go and battle with Barbie J not me nze ngyakutagula tagula little man. The people you need to battle are those who can’t read and write plus those who don’t know English not me,” Apass warned.

With less than an hour after the post, Geosteady had hit back.

“Since you know posting and tweeting, drop your concert online hahaha Bambi,” he responded back.

Now that even Yiya Moze has been dragged into this, where do you think it’s headed?

 

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