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CEO Summit 2021: Mumba Kalifungwa calls for purpose driven innovations to enhance equitable service delivery

By
Geoffery Serugo
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Managing Director Absa Bank Uganda, Mumba Kalifungwa

The Managing Director of Absa Bank Uganda Mumba Kalifungwa has called for creativity of purpose driven innovations to enhance equitable service delivery for sustainable growth in the banking sector.

Mumba said this during the 12th Edition of the Annual CEO Forum 2021 held under the theme ‘Innovating for Shared Value – Putting Purpose into Practice.’

“For us to remain relevant  now and in the future, we must create an ecosystem that serves customers at their places of convenience,” he said, adding that financial services like mobile money have greatly contributed to the banking sector since a lot of payments are made through that platform.

According to a World Bank report, more than half of Uganda’s adult population now has access to an account at a formal financial institution. This is almost twice as many as in 2009. The entry and fast penetration of mobile money is the main reason for the increase, having allowed over 8 million Ugandans to conduct financial transactions.

Only 16% of the adult population keeps their savings at formal deposit taking institutions, including banks, microfinance institutions and savings and credit institutions. Up to 60% of adult Ugandans still keep their savings at home and in the form of assets such as animals. Moreover, a much larger share of the population, reaching more than 65%, are unable to access formal financial institutions for credit.

Mumba said as the bank they are providing social change beyond profit motivation. “We have donated a number of medical supplies to ministry of health during and before the Covid-19 pandemic, pay school fees for needy students,” he added

“The bank has provided affordable loans to Small and Medium Enterprises (SME) in the country for sustainable groups. You know 90% of the businesses are SMEs. We have financed developments for individuals who have for over time approached us. We believe in providing solutions that will enable our clients achieve their dreams.” he said

During the forum, Mumba urged other companies to come together to advocate and solve a particular need for a society in terms of relief taxes for sustainable growth.

Under the ecosystem, Mumba said agency banking, Internet bank, mobile money services have brought their customers closer since they can transact at their conveniences.

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Migrant Rights: IOM trains MPs on Labour Migration and Ethical Recruitment

By
Geoffery Serugo
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Migrant Rights: IOM trains MPs on Labour Migration and Ethical Recruitment

The International Organization for Migration (IOM) has commenced a series of training workshops for 200 Ugandan legislators on labour migration and ethical recruitment.

The legislators are being introduced to the International Recruitment Integrity System (IRIS), an IOM tool on hiring and human resource best practices on international standards of recruitment, assessing recruiters’ practices, among other areas. This is expected to help the legislators to champion issues to do with safe labour migration pathways and use their legislative power to promote the protection of workers.

The training programme is part of the global project ‘Promoting ethical recruitment in the hotel and tourism industry’, funded by the United States’ Bureau of Populations, Refugees and Migration (PRM). It is jointly implemented by IOM and the Sustainable Hospitality Alliance, in close coordination with the Leadership Group for Responsible Recruitment, the International Labour Organization’s Fair Recruitment Initiative.

The project seeks to sensitize stakeholders in labour migration on promoting safe, orderly and regular labour migration pathways and subsequently reduce the risk of exploitation facing migrant workers in the hotel industry and its supply chain and establish ethical recruitment.

A dozen MPs from the Gender, Labour and Social Development Committee attended the first training in Kampala.

“Legislators have a big role to play in promoting safe, orderly and regular labour migration pathways for our migrant workers,” said IOM Uganda programme manager for Labour Migration and Human Development, Odette Bolly. “Because at the end of the day, these migrant workers come from the same MPs’ constituents. Labour migration itself is not new; but we need to make sure that recruitment of migrant workers is done ethically.”

Several MPs reported that many youths in their constituencies are asking for help to go migrate overseas for work. However, the rights of migrant workers remain a concern.

“What the rights of these migrant workers we send abroad? Do they have rights are they are just bunded about as if they are slaves?” said MP Flavia Kabahenda Rwabuhoro, chairperson of Parliament’s committee on Gender, Labour and Social Development.

“We have fragmented laws and policies about migration. Because we do not have a comprehensive national migration policy, we have ended up abetting forms of migration that probably include human trafficking.”

The Uganda Association of External Recruitment Agencies (UAERA) estimates that more than 160,000 Ugandans are working in Gulf Cooperation Countries. According to the Ministry of Finance, Planning and Economic Development, a total of 8,830 Ugandans left the country in June 2021 in search of jobs. However, such workers remain vulnerable to extortion and exploitation both during the recruitment process and in the destination countries.

Other than engaging stakeholders to strengthen their capacity to implement the IRIS, this project will also support the development of National Action Plans (NAPs) and enforce the Sustainable Hospitality Alliance’s principles on forced labour.

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Germany donates five ventilators worth Shs407m to Mulago Hospital and Mbarara Regional Referral Hospital

By
Our Reporter
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The Ambassador of the Federal Republic of Germany, Mr. Matthias Schauer, handing over the five ventilators.

On Thursday, 16 September 2021, the Ambassador of the Federal Republic of Germany, Mr. Matthias Schauer, handed over five ventilators to Dr. Rosemary Byanyima, Deputy Executive Director of the Mulago National Referral Hospital and Dr. Celestine Barigye, Director Mbarara Regional Referral Hospital.

The ventilators donated are part of the German government-supported Hospital Partnerships initiative between Arbeitsgemeinschaft Notfallmedizin Fürth (Institute for Emergency Medical Education) and Makerere University College of Health Science. Mulago National Referral Hospital and Mbarara Regional Referral Hospital are part of this partnership.

The devices worth Shs407.5 million (98,150 EUR) are meant to boost the country’s response to Covid-19 and provide life-saving oxygen to Covid-19 patients. This donation comes as part of a wider support to assist Uganda in managing this crisis, containing the risk of a further spread of the pandemic and mitigate the longer-term effects of Covid-19 pandemic through various clinic partnerships and ongoing development programs.

While Covid-19 diagnostic, prevention and treatment is crucial, the only promising way to overcome the pandemic are vaccinations. In this light Germany has provided 2.2 billion EUR to the multilateral platform COVAX which aims to distribute vaccines free of charge to developing countries. Uganda has already received 1.6 million doses of vaccine through this channel.

During the handing over of the equipment, Ambassador Matthias Schauer underlined the continued support Germany is giving to Uganda in managing the pandemic and containing the risk of a further spread of the virus.

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Court of Appeal set to handle 50 Criminal Appeals

By
Our Reporter
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Court of Appeal

The Court of Appeal has kicked off the hearings of 50 Criminal Appeals which include an appeal by the Inspectorate of Government against the acquittal of former minister of works and transport, Eng. Abraham Byandala and three others named in the Mukono-Katosi road scam. The scam led to a Shs 24.7 billion loss to the Government.

The session which is slated to last three weeks will be presided over by the Deputy Chief Justice, Richard Buteera and Justices; Elizabeth Musoke Cheborion Barishaki and Muzamiru Kibeedi.

The Justices will equally hear an appeal by Joe Ssemugooma and two others who are appealing against their conviction by the Anti-Corruption Court.  Mr Ssemugooma and one of his co-appellants were handed a five-year jail term while another was sentenced to 10-years. The trio is currently out on bail, pending determination of their appeal.

The Registrar in Charge of the Criminal Registry at the Court, Ms Mary Kaitesi, pointed out that the highest number of appeals to be handled during this session are those in respect to Aggravated Defilement convictions (17) and Murder (17). Adding that the others to be handled are Aggravated Robbery (09), Rape (02), Malicious Damage (02), and Forgery (01).

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Last laugh as BoU withdraws Court appeal Against Sudhir in the Crane Bank saga

By
Geoffery Serugo
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Sudhir Ruparelia, East Africa's wealthiest man.

The Bank of Uganda  has withdraw a Supreme Court appeal that was contesting the Court of Appeal’s dismissal of the case it filed on behalf of Crane Bank Ltd (in Receivership) versus Sudhir Ruparelia and Meera Investments Ltd.

In a September 15 notice of withdrawal, the Supreme Court Registrar indicated that BoU has decided not to prosecute the appeal and will pay costs.

The notice is signed by the central bank lawyers Messers Byamugisha & Co Advocates, confirming the latest victory for Mr Ruparelia who has given the BOU a run of their money in the court, ever since they closed his bank. On June 23, 2020, the Court of Appeal upheld the judgment of the Commercial Court in an application filed by BoU seeking a refund of  Shs397 billion from city tycoon

Justice David Wangutusi of Commercial Court in August 2019 dismissed the first case in which BoU claimed that Sudhir and his Meera Investments e fleeced his own Crane Bank  (now in receivership) of Shs397 billion.

On Tuesday, June 30, the BoU  insisted that receivership does not take away the corporate personality of a company which includes the right to trace and recover assets and the right to sue for those assets.

In the preliminary stages of the appeal, the Supreme Court in August this year, dismissed with costs, an application by lawyers representing BoU in which they sought to substitute the court record from Crane Bank Limited (in receivership) to Crane Bank Ltd (in Liquidation), with the court rejecting the move, as in bad faith and intended to circumvent facts.

A panel of the Supreme Court Justices, Ruby Opio-Aweri, Faith Mwondha, Lillian Tibatemwa, Ezekiel Muhanguzi and Night Tuhaise, in a ruling issued on August 12 rejected arguments by BoU lawyers led by veteran attorney stating that Crane Bank Limited (in Receivership), Crane Bank Ltd (in Liquidation), and Crane Bank Ltd are three distinct entities with different rights, powers and obligations.

Earlier in the High Court, Justice Wangutusi noted in his ruling that at the  time BoU and Crane Bank (in receivership) filed the suit against Mr Ruparelia and his Meera Investments in January 2017, Crane Bank was a non-existing entity, having been terminated when the Central Bank sold its assets to DFCU Bank in October 2016.

The judge ruled that this rendered Crane Bank in receivership incapable of suing or being sued since there would be no assets to be claimed for.

 

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Dfcu Bank launches cardless ATM deposits

By
Geoffery Serugo
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dfcu bank

dfcu Bank has launched Cardless Deposit Functionalities across the country. With the new service, both dfcu and non-dfcu customers will be able to make free cash deposits into any dfcu Bank account using dfcu ATMs countrywide.

The development follows the Bank’s recent replacement of its ATM fleet with new Smart ATM recyclers, which in addition to cash withdrawals and statement provisions, accepts card and cardless deposits from customers.

Faridah Nalubega, Manager Cards and Money Transfers at dfcu Bank said the ATM deposit functionality is a welcome addition to the Bank’s portfolio of services and products whose value lies in making banking easy, fast, and safe for customers.

 “We believe that everyone who has already adapted the use of Mobile Wallets or Cashless transactions is going to embrace our new service. Whether you are the customer that must make an urgent deposit, or you are deliberately trying to minimize time spent in banking hall queues, the Cardless Functionality will serve you well,” she said.

“24/7 Cardless Deposits will provide our customers with the option to bank their money in a way that is fast, simple and offers safety because of the security features available at our ATM points. Whether or not one banks with dfcu, they will be able to make deposits to any of our accounts at all hours, at over 60 ATMS.”

Lloyd Jonathan Busuulwa, Head Alternative Channels at dfcu Bank noted that the enhancement reinforces the Bank’s commitment to offer banking solutions that fit into the lives of its customers. With our new campaign, ‘Banking at the Speed of U!’ we made a commitment to our clients; to be a bank that understands and meets their needs in a world that is transforming continuously. With the countywide introduction of Cardless ATM Deposits, we are keeping that promise by offering convenience that doesn’t have a timeout.”

“It is our hope that customers will embrace this technological stride and be part of our exciting future which will have even more advancements,” Busuulwa concluded.

The implementation of dfcu Bank’s Digital Strategy has been quickened by the outbreak and continued impact of the CORONAVIRUS, which has changed the way that communities, nations and companies operate. At the recently concluded dfcu Limited Annual General Meeting, dfcu’s CEO Mathias Katamba restated the institution’s commitment to the safety of its staff, customers, partners and communities through among other things, the digitization of its internal and customer-serving processes.

Under ‘Banking at the speed of U!’, dfcu promises to deliver a range of products and services that will live up to that commitment and place it on the path to becoming a next-generation Bank.

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DNA confirms decomposing body retrieved from septic tank is of Immaculate Onebe

By
Our Reporter
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Francis Onebe

The DNA test results have indicated that the decomposing body which was retrieved from a septic tank of Francis Onebe’s home is of his wife, Immaculate Onebe.

Earlier today, the family of Onebe has picked her remains from the city mortuary for burial. The 62 year old, proprietor of a security firm reportedly went missing in January 2021.

Onebe was last week arrested after his wife’s body, Immaculate Onebe, was found in the septic tank. He was arrested after learning about his intentions to flee the country. But upon arrest, Onebe said he was traveling for treatment, and his earlier reasons to travel to Nairobi also indicated appointments with doctors.

The arrest also followed the nabbing of a former security guard of Onebe who sneaked into the home. It is averred that the guard identified as Okariot disappeared moments after Onebe’s wife went missing.

In January, Onebe reported the case of missing wife Immaculate Onebe at Kabalagala police alleging that his wife was kidnapped by security agencies which were moving in a ‘drone’. He mounted a search for his wife, visiting the Special Investigations Unit (SIU) in Kireka, Chieftaincy of Military Intelligence (CMI) in Mbuya and Criminal Investigations Directorate (CID); however he failed to locate her.

Onebe who is held as the prime suspect the death of his wife didn’t relent, he placed adverts in newspapers, radios and television stations as well as social media.

On Monday, Police revealed another body of a girl averred to be 18 years of age was retrieved from that same septic tank in Francis Onebe’s home, Dr Kaggwa Rise in Munyonyo, Makindye division in Kampala.

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The ruling on BoU legal immunity is much welcome-MP Katuntu

By
Our Reporter
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The then COSASE Chairman Abdu Katuntu.

 

Bugweri County Member of Parliament Abdu Katuntu has welcomed the ruling by Constitutional Court stripping of legal immunity from Bank of Uganda saying it was long overdue.

Mr. Katuntu is a seasoned legislator who chaired the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) of parliament that investigated Bank of Uganda on the issue of closure of commercial banks.

The Constitutional Court nullified sections 118 and 124 of the Financial Institutions Act that has been shielding Bank of Uganda and its employees from being sued.

“There is any institution or person that should be above the law apart from the president. The ruling is a good development” Mr.Katuntu told Eagle Online.

 

The five justices of Constitutional court in their ruling said it was unconstitutional for BoU to hide under sections 118 and 124 to shield themselves from the law and yet under 21 of the same constitution, it gives powers of equal treatment before and under the law. The justices were Muzamiru Kibeedi Elizabeth Musoke, Egonda Ntende, Irene Mulyagonja and Cheborion Barishaki

“This gives unjustified and arbitrary protection to the BoU, which is contrary to article 21 of the Constitution which provides that all persons are equal before and under the law in all sphere of political, economic, social and cultural life and every other respect and shall enjoy equal protection of the law. Given that BoU’s directives to freeze a person’s account have a bearing on the constitutional right to property, it is vital in safeguarding those rights that the courts retain the powers to scrutinize the actions of Bank of Uganda on their merits. This will ensure, not only freezing orders are not unjustly made but also that the BoU’s receives equal treatment as other persons who in similar circumstances will be amenable to legal proceedings”

The landmark ruling arose out of constitutional petition No 50 of 2013 of Peter Ssajabi and Swift Commercial Establishment Limited versus Attorney General and Bank of Uganda.

The petitioners challenged the constitutionality of provisions in certain acts of parliament and hence seeking court’s interpretation of the constitution so as to determine whether certain acts were allegedly done by the respondents in contravention of the constitution. The petition was brought in pursuant to articles 2,137 (1) (1) & (4) and 150 of the constitution and the constitutional court.

“The petition also succeeds regarding sections 118 and 124 of the FIA which when read together have an unconstitutional effect in that the provisions empower the BoU to make directives cannot be subject to court scrutiny for purposes of determining whether they are justified. This is unconstitutional in that it denies the account holder access to court and shields the BoU from scrutiny in court proceedings. The section gives the BoU favorable and unequal treatment which is contrary to Article 21 (1) of the Constitution.” Reads the judgement which was delivered by Justice Cheborion Barishaki on August 26, 2021.

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Rotary International leaders honour Vice President Alupo for supporting their activities

By
Our Reporter
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Vice President, Hon. Jessica Alupo (C) in a group photo with the Rotary leaders who paid a courtesy call to her office

A team of Rotary leaders has on September 16th 2021 praised the Vice President, Hon. Jessica Alupo for being a key partner in supporting their activities. The Rotarians also congratulated the VP upon her personal achievements, and for being an exemplary leader who always facilitates Rotary initiatives. The leaders made the call during a courtesy call to her office in the Presidents’ Office Building in Kampala.

The delegation of Rotarians was led by current Rotary District Governors John Magezi Ndamira, Rotarian Young Kimaro, Rotarian Mercy Kainobwisho who also the past president of the Rotary Club of Bukoto, a number of past District Governors and Rotary International Trustees. The meeting was also attended by the Government Chief Whip, Hon.Thomas Tayebwa, Rotary District Chairs, Secretaries as well as some Rotaractors.

The Vice President expressed her appreciation for Rotary’s constructive stance in favor of development activities that enhance the livelihoods of the vulnerable members of society including mothers, children and the less privileged. The two teams pledged to continue their dialogue on finding solutions to community issues and maintaining strong relations that will uplift societies out of vulnerability.

The visit of the Rotarians comes on the heels of another landmark tour of duty to Uganda by the Rotary International President Shekher Mehta at which he met the President, His Excellency Yoweri Kaguta Museveni, and launched various Rotary initiatives, the outstanding being the launch of the Maternal & Child Health Program at the Kawempe Referral Hospital.

In her speech today, the Vice President appreciated the good deeds Rotary was performing and pledged her support for continuity.’ I believe that your acts of service, big and small, create opportunities for people who need our help’ Alupo said. She added that she was happy that Rotary creates leadership opportunities and gives members the chance to put their service ideas into action and make lifelong changes to the communities in which they operate. “Everything you do opens another opportunity for someone, somewhere,” Alupo added.

The VP was later inducted into Rotary as part of her commitment to ensure that future initiatives are welcomed and tasked the Rotarians to seize the many opportunities Rotary offers to enrich their lives and the communities they serve.

On their part, the Rotary leaders committed to continue working with governments in the seven strategic areas of focus including; Peace building and conflict prevention, water, sanitation and hygiene, maternal and child health, basic education and literacy, community economic development, disease prevention and treatment and supporting the environment.

Rotary international is also committed to support the empowering of young girls and boys, digital tool to access education, supporting heart surgeries of children with heart complications, equipping hospitals with dialysis machines among others.

In Uganda, Rotary International has initiated and supported a number of projects in all the seven areas of focus. These are, the construction of the Rotary Cancer Treatment Center in Nsambya, construction of the Blood Bank in Mengo Hospital, construction and renovation of schools, supported the community health through family health days, planting of millions of trees, vocational skilling, wealth creation programs, youth empowerment, building the Rotary Hospital in Mukono, maternal and child health programs.

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Oil prices shoot up in shocking OPEC Report

By
Geoffery Serugo
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Silhouette of oil worker in work vest and helmet

The surge of the Delta variant around the globe is set to partially delay oil demand recovery into the next year when robust economic growth and stronger recovery in fuel consumption will see global oil demand averaging 100.8 million barrels per day (bpd) and exceeding pre-COVID levels, OPEC said raising its 2022 demand forecast by a shocking 900,000 bpd.

Next year, oil demand worldwide is now expected to jump by around 4.2 million bpd compared to 2021, an upward revision of 900,000 bpd compared to last month’s assessment, OPEC said in its closely-watched Monthly Oil Market Report (MOMR) today.

This year, total global oil demand remains unchanged at 96.7 million bpd for the whole of 2021. But the fourth-quarter demand was revised slightly down, by 110,000 bpd from the August estimate of 99.82 million bpd to 99.7 million bpd now, OPEC said in its September report.

“Oil demand in 3Q21 has proved to be resilient, supported by rising mobility and traveling activities, particularly in the OECD. At the same time, the increased risk of COVID-19 cases primarily fuelled by the Delta variant is clouding oil demand prospects going into the final quarter of the year, resulting in downward adjustments to 4Q21 estimates,” the cartel noted.

The lower estimates for the last quarter of 2021 mean that some of the demand recovery will be pushed into the first half of 2022, according to OPEC.

“As vaccination rates rise, the COVID-19 pandemic is expected to be better managed and economic activities and mobility will firmly return to pre-COVID-19 levels. The revisions are based in both the OECD and non-OECD regions, with steady economic developments expected to support the partially delayed recovery in oil demand in various sectors,” OPEC said in its 2022 forecast.

Demand for 2022 was revised up by 300,000 bpd for OECD and by 600,000 bpd for non-OECD countries compared to last month’s outlook.

Last week, reports emerged that OPEC could cut its 2022 demand forecast, but the organization now says it believes that the Q4 2021 weakness in demand would only delay the recovery to next year.

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