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Dfcu, Buganda Kingdom rally Ugandans to continue fighting HIV/AIDS ahead of the upcoming Kabaka Birthday Run

By
Geoffery Serugo
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Katikkiro of Buganda, Owek. Charles Peter Mayiga with the dfcu Bank CEO Mathias Katamba

Dfcu Bank in partnership with the Buganda Kingdom has called upon Ugandans to continue being vigilant in the fight against HIV/AIDS especially among the Girl Child.

This was re-echoed during the Katikkiro of Buganda’s courtesy visit to the bank’s head office ahead of the upcoming Kabaka Birthday Run slated for the 29th November 2020.  This year’s Kabaka Birthday Run is under the theme ‘Men against AIDS to Save the Girl Child’ and will be a virtual event to curb the spread of COVID-19 as per the Ministry of Health guidelines.

Speaking during the event, dfcu Bank’s CEO, Mathias Katamba reiterated the objective of the partnership with Buganda Kingdom which is geared towards driving a sustained understanding that testing for HIV/AIDS is an essential gateway to HIV prevention, care, and treatment.

“We find ourselves in rather difficult times having to stay safe during a COVID-19 pandemic but even as we do so we must remember that HIV remains a major challenge in our country. We all know someone who is living with HIV or who has died of AIDS. According to UNAIDS data, HIV prevalence is highest among the youth aged 15 – 24 and is almost four times higher among young women than men of the same age. We know that at least 1.4million Ugandans have tested positive for HIV and 1.2million of these are on treatment,” Katamba said.

“This year’s Kabaka Birthday Run is about raising more awareness among men and encouraging them to get tested and get treatment if needed. So, when we gather virtually on Sunday the 29th, we will be united for a great cause – a cause that rises above political affiliation, social strata, cultural beliefs, religious inclination, economic standing, and any other differences we could think of. As dfcu Bank, standing shoulder to shoulder with the Kingdom of Buganda and our other partners, is a demonstration of our a commitment to creating more possibilities,” Katamba added.

The Katikkiro of Buganda, Owek. Charles Peter Mayiga commended dfcu Bank for its continued support of the Kingdom’s initiatives; “You cannot talk about culture and heritage and you separate them from the well-being of the people that is why the Kabaka tells us to prioritize the health of the people of Buganda and that is why for the next two years we are focusing on HIV/AIDS. Together with dfcu Bank and other Kingdom partners, we shall be raising awareness among our people to ensure that men can work towards saving the Girl Child from HIV.”

In December 2019, dfcu Bank signed a three-year partnership valued at over UGX, 500,000,000 with the Buganda Kingdom, making it the official Bank sponsor for the annual Kabaka Birthday Run.

Kits for the for the 2020 Kabaka Birthday Run priced at UGX 10,000 are now available at various locations across the country including all Masaza headquarters and Total gas stations (Sonde, Nateete, Namanve & Mengo).

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Like the Bourbons,how BoU’s Atingi-Ego learned nothing and forgot nothing from the Kasekende collapse

By
Our Reporter
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Deputy Governor, Dr Michael Atingo-Ego

 

Bank of Uganda Deputy Governor Michael Atingi-Ego shares traits with the proverbial bourbons who learnt nothing and forgot nothing,leading to the collapse of the Bourborn Monarchy.

Dr. Michael Atingi-Ego was appointed Deputy BoU Governor in April 2020 to replace the Louis Kasekende but the London-University trained Economist seemed to have failed to pick lessons from the evils that tormented his predecessor.

One of Kasekende’s undoing that Dr Atingi-Ego has failed to kick out is his dubious dealings with a coterie of law  firms that the  Court declared “conflicted” and warned the Central Bank not to deal with them.

High Court in 2019 ruled that lawyers of MMKAS Advocates, David Mpanga of AF Mpanga-Bowmans and Sebalu & Lule Advocates were barred from representing BoU and any party in cases involving Ruparelia Group because they had all been previously contracted by the city tycoon.

But the former Deputy Governor Louis Kasekende,in an unholy alliance with Mrs Margaret Kasule,the BoU Legal Director,continued to deal with these law firms,in open defiance of court orders,actions that did not go down well with President Museveni.

That ultimately forced President Museveni to overlook him for appointment to Governor,a position he has long coveted.

Kasekende and Kasule were also severally questioned by Parliament’s Committee on Commissions,Statutory Authorities and State Enterprises(Cosase) over their relationship with lawyers from the three law firms that had been effectively blacklisted by the Central Bank.

And Dr Michael-Atingi has not learnt any lessons on how his predecessor meant his waterloo.

On October 28, 2020,Michael Atingi Ego chaired a meeting to discuss the strategy to be employed by the Central Bank in the Crane Bank appeal. The meeting was attended by BoU Secretary-Susan Kanyemibwa,Tumubweine Twinemanzi,the Executive Director Supervision and Margaret Kasule,the Legal Secretary.

Strangely ,out of all the seven closed commercial banks,the Meeting took particular attention on Crane Bank,even noting that Crane Bank documents are not stored in one office.“They are scattered in various bank offices including Legal Department,Bank Secretary’s office,office of the Deputy Governor and the Governor’s Office.”

Not much attention was zoomed in on the other closed commercial banks.

However,what is ominous is that it was recorded in the minutes that matters of Crane Bank Ltd require progression to liquidation as the same recommendation was given by lawyers from Shonubi and Company Advocates.

“However,it was noted that the issue of progression to liquidation has some legal glitches,”the minutes,which have been seen by this Website,indicate.

The decision to Chair a meeting about the liquidation of Crane Bank,even with the full knowledge that such liquidation would be against the law,has brought back the ghosts of how Kasekende manipulated the law in the run-up to the closure of Crane Bank.

 

 

 

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Two dead as Amuriat’s convoy is involved in an accident

By
Our Reporter
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Two people are said to be dead as Forum for Democratic Change presidential candidate, Patrick Oboi Amuriat’s convoy is involved in an accident in Nebbi.

Amuriat has been campaigning in West Nile region for the last two days. The accident which is reported to be fatal involved a van carrying his public address system.

Sources in Nebbi told Eagle Online that 15 more people who were in the convoy have been rushed to the neighbour health facilities. FDC sources say their candidate has meanwhile suspended campaigns.

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EC finally approves NUP party symbol

By
Our Reporter
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nup symbol

The Electoral Commission (EC) has finally approved and gazetted the ‘Umbrella’ as the official party symbol for the National Unity Platform (NUP) ahead of the 2021 general elections.

The party president Kyagulanyi Ssentamu Robert aka Bobi Wine who is also running for presidency made the declaration on Tuesday afternoon through his social media post.

“Our symbol was gazetted last Friday and we can now officially use it.” Bobi Wine tweeted.

The umbrella symbol will appear on the ballot paper against the names and images of all NUP candidates at all levels in the 2021 elections.

“This is the symbol which will appear on the ballot paper against the names & images of all NUP candidates at all levels. Tell your friend to tell a friend to look out for the UMBRELLA.” he added.

The symbol is in three colors; red, blue and White.

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EOC boss committed to High Court over corruption

By
Our Reporter
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Sylvia Muwebwa

Equal Opportunities Commission (EOC) Chairperson Sylvia Muwebwa Ntambi has been committed to the High court for trial on charges of corruption.

The Director of Public Prosecution (DPP) said investigations into the matter were complete and that they are ready to present evidence against her and nine other former workers of the commission.

Sylvia Ntambi and nine others are accused of causing financial loss of over Shs200 million through termination of workers contracts and forcing workers to resign and replace them with her relatives and friends.

Since Ntambi took over the chairperson-ship of the commission, the whistleblower said Mrs Ntambi has unfairly dismissed over 11 staff, terminated over 10 staff contracts, and four contracts have not been renewed. In 2017/ 2018, the Auditor General advised the commission to employ people on permanent contracts however the chairperson declined and this has since led to financial losses.

They accused her of directing the collection of Shs100 million which they had approved in the commission meeting and the said money was to be used as kickbacks for individuals who worked hard for passing of the commission budget in 2018/19.

“It was paid and collected through individual bank accounts. It was collected and handed over to her at Kampala International University (KIU), Kansanga on 7th March 2019,” the whistle blower said. Despite being chairperson of the commission, Mrs Ntambi is averred to have forced her secretaries to pay her as consultant in production of various reports.

“The money was paid to Prof. Sunday Nicholas Olwor (Shs 14M), Kamahoro Enid (Shs 13M), Nassanga Sarah (Shs 5M), Atukunda Susan (Shs 6M), Mugisha James (Shs 12M), Kwesiga Ronnie (Shs 12M), Kwesiga Ronnie (Shs 10.55M), Sarah Nassanga (Shs 9M), Kwihangana Manasseh (Shs 13M), Prof. Sunday Nicholas Olwor (Shs 9.8M), Kwesiga Ronnie (Shs 9M) and sylvia Muwebwa Ntambi (Shs 13M),” payment slips indicate.

She is also accused of irregular approval of allowances of various members of the commission, using commission vehicle for doing private businesses, irregular recruitment of staff without embracing commission procedures. It is said that she illegally recruited Betty Namazzi, Juma Waira and Petau Isabirye Babirye.

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Joshua Cheptegei shortlisted for Male World Athlete of the Year 2020

By
Our Reporter
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cheptegei

With just 12 days to go until the World Athletics Awards 2020, the names of the five finalists for the Male World Athlete of the Year 2020 have been confirmed by the World Athletics Council.

Ugandan long-distance runner Joshua Kiprui Cheptegei finally made the cut for his tremendous achievements this year along four others for the top accolade.

Cheptegei broke world records at 5000m (12:35.36), 10,000m (26:11.00) and 5km on the roads (12:51) and came fourth at the World Athletics Half Marathon Championships on his debut over the distance.

In spite of the many challenges presented by the global Covid-19 pandemic this year, the five athletes, who represent five countries and three area associations, have excelled, producing brilliant performances across nearly all athletics disciplines in 2020.

The male and female World Athletes of the Year will be announced live at the World Athletics Awards 2020 to be staged as a virtual event on Saturday 5th December.

A three-way voting process determined the finalists. The World Athletics Council and the World Athletics Family cast their votes by email, while fans voted online via our social media platforms. The Council’s vote counted for 50% of the result, while the Athletics Family’s votes and the public votes each counted for 25% of the final result.

The male finalists are:

Joshua Cheptegei, Uganda: Broke world records at 5000m (12:35.36), 10,000m (26:11.00) and 5km on the roads (12:51) and was fourth at the World Athletics Half Marathon Championships on his debut over the distance.

Ryan Crouser, USA: Undefeated in 10 shot put competitions, his 22.91m world-leading performance moved him to equal third on the world all-time list.

Mondo Duplantis, Sweden: Broke the world record in the pole vault twice (6.17m and 6.18m) and produced the highest outdoor vault of all time (6.15m), undefeated in 16 competitions.

Johannes Vetter, Germany: Won eight of his nine javelin competitions, threw a world-leading 97.76m, the second farthest throw in history

Karsten Warholm, Norway: Ran a world-leading 46.87 in the 400m hurdles, the second fastest performance in history, undefeated in nine 400m/400m hurdles races and set world best of 33.78 in 300m hurdles.

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Chief Registrar assesses effect of Wobulenzi Court fire

By
Our Reporter
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Chief Registrar assesses effect of Wobulenzi Court fire

The Chief Registrar, Ms. Sarah Langa Siu, has visited the Wobulenzi Magistrates Court to assess the extent of the fire by rioters last week on Wednesday.

She was accompanied by the Inspector of Courts, HW Flavia Nassuna; Commissioner Engineering & Technical Services, Eng. Christopher Ebal; Luwero Chief Magistrate, Samuel Munobe and the PA to the CR, HW Allan Gakyaro.

The team learned from the area Magistrate Grade One, HW Hope Bagyenda, that the effect of the fire was minimal, and that the normal operations of the Court had resumed.

“The fire extensively affected only two pieces of furniture. Nevertheless, the technical team has assessed what needs to be repaired, and we should be in position to restore the court to its decent status as soon as possible,” said Ms Langa.

She appreciated the team at the Court for re-opening the Court quickly.

On Friday last week, the Judiciary condemned the acts of hooliganism by protesters that resulted into the setting ablaze of Wobulenzi magistrate’s Court.

In a statement issued by the Chief Registrar Sarah Langa, the judiciary was dismayed by the act of hooliganism and that the action was an unwarranted direct affront on the independence of the judiciary which is guaranteed under the constitution. Adding that Under Article 128 of the constitution, no person or authority shall interfere with the courts or judicial officers in the exercise of their judicial functions

She meanwhile asked Ugandans to exercise restraint and avoid attacking courts that are mandated to defend the Constitution, promote the rule of law and safeguard their human rights.

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Standard Chartered, CDC unveil additional $100m trade finance agreement as part of COVID-19 response

By
Our Reporter
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Standard Chartered logo

Standard Chartered and CDC Group, the UK’s development finance institution and impact investor, today announced an additional $100 million commitment to their existing master risk participation agreement. The increase in commitment will provide Standard Chartered with systemic liquidity to directly support trade lines to local banks across South Asia and sub-Saharan Africa.

This new commitment comes at a particularly challenging time as the COVID-19 pandemic has created severe liquidity pressures for banks and businesses across Africa and South Asia, exacerbating the existing pressure on trade finance availability as international banks limit their risk appetite. In this context, development finance institution capital becomes even more critical to maintain trade flows and support economic growth.

Standard Chartered and CDC have taken an innovative approach to funding. The capital will be channeled into some of Africa’s most fragile countries and will address major challenges in the food and agriculture and healthcare sectors as they benefit from preferential terms.

This deepening partnership between CDC and Standard Chartered demonstrates the need to channel more trade finance towards vulnerable countries most affected by the impacts of the crisis, as well as support sectors that are critical to serving people’s basic needs.

The new commitment strengthens CDC’s longstanding relationship with Standard Chartered, marking a key milestone in the partnership, and contributes to two of the United Nations’ Sustainable Development Goals: Zero Hunger (SDG 2) and Decent Work and Economic Growth (SDG 8).

Admir Imami, Director, Head of Trade and Supply Chain Finance, CDC, said: “We continue to ramp up our trade finance programme as part of CDC’s “Strengthen” pillar response to COVID-19. Our partnership with Standard Chartered Bank will support vital trade and supply chains in sub-Saharan Africa and South Asia, thereby protecting jobs and economic growth. Our trade finance programme aims to alleviate poverty, and ensure vital goods get to those that need it most across our markets.”

Nicolas Langlois, Global Head of Trade Distribution, Standard Chartered, said: “We are delighted to partner with CDC on this initiative, which will enable us to support business sectors across sub-Saharan Africa and South Asia that are impacted by COVID-19, as well as provide them with the much-needed access to trade finance in these challenging times. This is not only testament to our commitment to be Here for good for our clients and the community, but more importantly, to continue to play a role in facilitating trade flows for businesses that are the life-blood of their local economies.”

James Duddridge, FCDO Minister for Economic Development, said: “As we work to support global economic recovery from Covid-19, this additional $100m through the CDC and Standard Chartered partnership will be critical for many businesses in sub-Saharan Africa and South Asia. This investment will help protect jobs, support economic growth and ensure vital goods get to those most in need.”

Standard Chartered has been actively supporting businesses, communities and individuals through the global pandemic. The Bank committed to providing USD1 billion of financing on a not-for-profit basis for companies that provide goods and services to help the fight against COVID-19 in March, and has since completed a number of drawdowns including recent disbursals to a leading plastics manufacturer in Vietnam to accelerate the production of plastic bottles supplied to sanitiser manufacturer, as well as a USD50 million loan to support a global technology, supply chain and manufacturing solutions company in addressing the supply chain issues facing the manufacturers of medical equipment. It also established a USD50 million COVID-19 Global Charitable Fund in April to help the recovery of the communities and markets it operates in.

Under the first phase, the Bank has to date donated USD21.9 million to 128 NGOs, charities and other partners across 52 markets. Under phase two where USD25 million will go towards supporting economic recovery and protecting livelihoods, it recently announced its commitment to support education, employability and entrepreneurship projects for young people through Futuremakers by Standard Chartered, its global initiative to tackle inequality.

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Sudhir gets diplomatic vehicle as Nepalese honorary consul to Uganda

By
Our Reporter
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Dr. Sudhir Ruparelia’s diplomatic car

The Honorary Consul of the Republic of Nepal to Uganda Dr. Sudhir Ruparelia has received the official car to facilitate his diplomatic duties – a Lexus 2020 UBH series with a special color of the number plate and official flag of Nepal.

In March this year, Sudhir was appointed the Honorary Consul of the Republic of Nepal to Kampala, Uganda.

In the same month, Sudhir officially presented his credentials to the minister of Foreign Affairs, Sam Kutesa.

The Successful businessman set up his consulate office at his iconic Crane Chambers on Kampala Road. The appointment of Ruparelia is expected to boost the bilateral relations between Uganda and Nepal.

After presenting his credentials, the businessman was inaugurated later in the evening at a ceremony at his Kabira Country Club by His Excellency Ambassador Jhabindra Aryal Rajdoot, the Ambassador of Egypt.

A consul is an official representative of the government of one state in the territory of another, normally acting to assist and protect the citizens of the consul’s own country, and to facilitate trade and friendship between the people of the two countries in accordance with the Vienna Convention on Consular Relations of 24 April 1963.

Under the same convention, Dr Sudhir will enjoy diplomatic privileges like meeting government officials and being involved in diplomatic circles and will also enjoy diplomatic Immunity under International Law with some limitations.

He also has no tax liability on any income arising from consular activities and will be using diplomatic channels at airports with no time delaying and annoying customs checks. He will be using the VIP section.

He also has unlimited entry and exit privileges from host country for business and personal travel and a free diplomatic vehicle license plates with special color of the plate.

The move is aimed at strengthening economic and political ties between the two countries.

Nepal now joined a host of many other countries that have opened up consulates in Uganda in the past few years including Gambia, Malaysia and Slovenia among others.

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The Best Trading Platforms Available in South Africa

By
Our Reporter
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Trading platforms connect users to the largest financial markets. Today, South Africa is the leader on the continent in terms of Forex volumes. Every day, its residents execute trades worth 20 billion US dollars. Since the outbreak of Covid-19, remote sources of income have been essential. Through powerful software, one may trade currencies, derivatives, and commodities wherever they are.

Choosing the best platform is not easy. Today, there is a wide range of products for different brokers and operating systems. Here are a few crucial criteria that should help you identify the most suitable digital environment. Begin by analysing your own needs: which markets do you want to trade, and what devices will you use?

 

1.   Analytical Features

Every trader conducts market analysis before making any moves in the live market. Your trading system should allow you to access real-time quotes and monitor the instruments at a glance. Both methods of analysis should be facilitated: fundamental and technical.

Fundamental traders need access to economic news, so they can spot announcements that may sway their currency pairs. Platforms like MetaTrader 5 also come with economic calendars. These features summarise crucial changes. There are also alerts, so users do not miss market opportunities.

Technical traders seek a wide range of indicators and adjustable time frames for price charts — they need systems with dozens of graphic objects, and maximised flexibility. A good system may have as many as 40 analytical objects. Price charts should be adjustable, so you may focus on short-term or long-term strategies as you see fit.

2.   User-friendly Interface

Of course, you cannot learn to use all features of your system overnight. Still, its interface must not be perplexing. All the basic tabs, buttons and features must be visible, and navigation should be largely intuitive.

Here, a lot will depend on the instruments you plan to trade. If you are a novice focused on currency pairs, you may want to choose a relatively simple environment. For example, MetaTrader 4 is less sophisticated than MetaTrader 5, which makes it ideal for beginners. As they gain experience, they may transition to the most recent version, and add more instruments to their portfolios to earn more and risk less.

3.   Mobile or Desktop?

Today, few people can sit in front of their laptops all day. The modern consumer is used to flexibility, and brokers keep up with the times. The most popular online trading platforms may be used on any laptop, PC, tablet, or smartphone.

For example, this is true for MetaTrader 4 and MetaTrader 5. Web versions do not require any downloads, as you may open them via any popular browser. There are also proprietary solutions for companies. For example, the FXTM Trader app developed for ForexTime gives access to over 250 different instruments. It has impressive features which accommodate all trading needs.

4.   Basics and Extras

It is best to choose platforms with customisable features. For example, MetaTrader 5 allows users to create their own indicators from the source code. They may easily switch between time frames, and modify the trading environment based on their needs.

If you are planning to use automated trading, see if forex robots may be integrated into the system. Expert Advisors can analyse the market, make suggestions, or even trade for you. Make sure you get them from reliable sources, though.

5.   Easy Access to Support

Support is essential, but it depends on your broker. You need 24-hour access to assistance at least five days a week. It is the norm. The more communication channels you may use — the better. Usually, brokers recommend particular platforms, so their support teams are knowledgeable about the technical side of things.

Example: MetaTrader 5

The system has been the leader for a decade. It is a versatile environment with multi-language and multi-currency support — users have access to a wide range of markets: currencies, stocks, derivatives, futures, and more.

The intuitive interface allows one-click trading with instant access to life quotes and news — users may test strategies, switch between nine timeframes, three chart types, and 44 analytical objects. There are six different types of pending orders. Overall, the system gives access to over 300 tools. Today, it is recommended by many brokers in South Africa and abroad.

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