Brookside Limited wins gold award during the President’s export award 2017

Brookside Limited produces Fresh Dairy products in Uganda

Brookside Limited, the producer of all Fresh Dairy products in Uganda has won a Gold Award in the Dairy and Dairy products Category at the President’s Export Award 2017 organized by the Uganda Export Promotion Board held this evening at Imperial Royale Hotel, Kampala.

(L-R) is Fresh Dairy’s Benson Mwangi – Finance and Administration General Manager, Vincent Omoth – Marketing Manager, Joseph Awino – Sales General Manager and Walibwa Robert pose with the Gold Award that Brookside Limited won

The theme for this year’s President’s Export Award is ‘Exporting – Growth Opportunity for local industry’

Uganda Export Promotion Board (UEPB) is the national focal point for export promotion and development whose main role is to help entities export their products and services out of Uganda. The UEPB through its annual event; the ‘President’s Export Award’ acknowledges the export fraternity’s contribution towards the economic development of the country.

Minister of Trade, Industry and Cooperatives Hon. Amelia Kyambadde (2L) poses with the team from Fresh Dairy – Benson Mwangi – Finance and Administration General Manager (L), Joseph Awino – Sales General Manager (M), Vincent

The Gold Award was handed over by the Minister of Trade, Industry and Cooperatives Hon. Amelia Kyambadde to Vincent Omoth, Marketing Manager Fresh Dairy who received it together with Joseph Awino – Sales General Manager, Benson Mwangi – Finance and Administration General Manager and Walibwa Robert.

Group photo of all the winners at the President export award 2017 held by Uganda Export Promotion Board

Suspected killers of Case Clinic Accountant Arrested

Francis Ekalugar an employee of case clinic was kidnapped and later murdered on Tuesday 2nd  January  2018 and his body discovered by police in Kajansi on 3rd January 2018. Security agencies have been since working together to bring the suspects to book.

Acting on very reliable information, on Friday 19th 2018 an operation was conducted to arrest one of the suspects Mr Kiwalabye Huzairu. In the process, there were attempts by some sympathisers to obstruct the arrest. However, this was overcome.

After interrogating Kiwalabye Huzairu, the investigators found a need to make further arrests. The following were subsequently arrested.

  1. Abdul Kitata a brother to Kiwalabye Huzairu
  2. Mawa Muzamiru a – driver to Dr SSebale Kato proprietor of Case Clinic
  3. Kikandi Muhindo and Bizimani David – Congolese nationals at whose residence the vehicle of the late Francis Ekalugar was found

Others in custody helping investigations are:

  1. Ssebandeke John
  2. Bwanika Fred
  3. Ssengoba Hassan
  4. Kibirige Joel
  5. Kayondo Johnathan
  6. Ssemogerere Sunday Kiseka
  7. Ssemogerere Sadam
  8. Barigye Asaf
  9. Nsindazi Joseph
  10. Ngobi Sowali
  11. Arinaitwe Thomas
  12. Ssekaja Ibrahim
  13. Ssozi Frank
  14. Kirya Shaban
  15. Mugema Hussein
  16. Kagajju Joram
  17. Ssebata Hassan
  18. Ssenfuka Matia
  19. Kiddugavu John
  20. Kasirye Godfrey
  21. Lukyamuzi Enock
  22. Ssengonzi Laurence
  23. Twinomujuni Amon
  24. Makumbi Frank
  25. Kanyamudali Thomas

On Sunday 21st January 2018, a search was conducted following leads from the arrested suspects and the vehicle Registration Number UAW 899U Toyota Premio in which the late Francis Ekalugar was kidnapped was recovered with altered number plate to UAT 764L

More detailed investigations will be conducted with a view of arresting all those still at large and prosecuting them. Currently those arrested are held at a police post in Kireka.

We wish to commend the public for continuing to support such operations geared at ensuring Law and Order in the country

The UPDF shall continue to work with all other security agencies to guarantee peace and security in the country and therefore there is no cause of alarm.


Deputy Defence Spokesperson

Tel. 0392947455, 0751663154

‘How I have been beaten, abused, traumatized and denied access to my babies by Human Rights Activist’ – Prisca Baike

Human Rights Activist, Willington Ssekadde, Abuses, Traumatises and Denies me my Babies aged 3 and 2 years

When you read the touching story of Prisca Baike, you can’t fail to cry. The mother of two has narrated her brutalised relationship with human rights activist Willington Ssekadde. Here is her story;

“I have beaten you, insulted you and chased you but you are not leaving. If you don’t want to leave this house alive, tell your people to buy a coffin in which they will take you.” Said the father of my two children

“I will stay here and raise my kids,” I responded amid tears generated by the blow I had just received on my head before my kids, who were more or less used to this scenario.

“Are these the bu-ones keeping you here? Take them and go or else, leave them to die from here. After all I have my other kids and a woman who are meant to be staying here,” he said before driving off in his Mercedes Benz Compressor UAX 450K.

“Daddy is bad,” said my innocent daughter, trying to comfort me.

As I looked at the big house and my Pajero UAZ 871J parked on the one-acre compound, I missed the good old days Willington and I had in our two-roomed Muzigo in Kireka, with not even enough compound space for a boda to park but we were happy.

Willington Ssekade and I met in March 2013 when he was working as the programs manager at raising voices and I had just started a journalism career with the Observer Newspaper.

A few months later, his organisation was awarded a DFID project which came with lots of allowances and in a nutshell, our lives changed. He finally completed his house that he had been building for the last six years, expanded the plot from a mere 90×100 to one acre, bought two Mercedes Benzes, a Pajero, several plots of land, and constructed flats for rent in Mukono.

He asked me to have kids, promising he was going to marry me but two kids later and four years down the road there was no marriage. Any mention of the word would spark a beating.

He first laid his hand on me when I was six weeks pregnant with our first child in September 2013. Later at seven months of pregnancy, I had locked myself in the bathroom of our rented Kireka muzigo to escape his beating when he forcefully kicked the door open, nearly killing me in the process. I went back home to my parents and delivered our daughter from there.

Seeing that our innocent child needed both her parents, I gave him another chance and in 2015, we had a second child, Malcolm Ssekadde who was prematurely born due to an infection and the stress I was enduring in the abusive violent marriage.

Brutal: Willington Ssekadde

He never allowed me to go back to work and he beat me on several occasions for attempting to start working but in 2016 February, I put my foot down and started working. I endured his abuse but it only got worse until he started threatening to kill me for competing with him by working.

On the 7th April 2017 I left his house with nothing but only my kids and our clothes, not even a feeding bottle or spoon did I carry, save for the Pajero that I used for taking my suitcases to a friend’s home. I hired an Ipsum to take my children who were with my elder brother to my parents’ home in Mbale since I had no place to stay and I also to work that day despite my condition. I stayed with a friend, Dr. Mirembe Leila until I got my own place. He never called me or any member of my family to ask about us.

A week later, on the 14th of April, I went to Mbale to check on my kids and I was informed that Malcolm had been taken to an ENT and he needed immediate operation. His father and I were already aware of this so I called him to ask for money for the operation he was aware of. He didn’t pick so I sent a message. The response I got was heart breaking.

“If you can’t afford the operation, you burry him.”

My dad was willing to foot the bill but I decided to sell my supermarket to pay for my son’s operation the following week. One day while at FIDA I asked him for support so that I could bring the children to stay in Kampala where he could easily see them but he refused. I was working hard to pay up my loan and ensure that my children could come stay with me in Kampala as soon as I was financially stable.

After the boy had recovered, Willington went to my parents’ home to kidnap the kids but luckily, the neighbours saw him and called police. He was put on a seven year police bond and asked to start supporting the children. He only paid tuition and I took care of the other fees including requirements and shuttle services. He absolutely gave us no support apart from that. He sent lawyers and court bailiffs to take his car and I handed it over to them at Kira Road Police.

In August, while at my parents’ home, attending to our son who was severely sick, I received a phone call from my daughter’s teacher telling me that a man claiming to be my daughter’s father had gone to school with armed police women led by ASP Lydia Birungi and AIP Sarah Kawuma and abducted my daughter along with the school headteacher, throwing the entire school in panic. And just like that she was gone. This directive as I later found out was issued by Maureen Atuhaire, the Director of Child and family protection unit, Naguru.

A few weeks later, he presented a custody order from Mukono court that had granted him custody to our two kids, Shanelle who was 3 years and Malcolm who was 23 months old. I was never summoned to court and the case was judged by a one Okwong in my absence. Since I was given visitation rights, I settled for that since I was tired of fighting and tossing the kids from one home to the other. What hurts me is that he doesn’t want me to see my children. He never picks my calls, he never calls me. I absolutely know nothing about my kids whereabouts as he keeps telling me they have shifted whenever I ask to see them. I last saw my kids in October after a prolonged battle of exchanging various emails with his lawyers who are always harassing and intimidating me and my family. He even sued my parents for taking care of my children without his permission. I sent them clothes and shoes last November and all I got in response were threats and insults to stay away from his children.

I had tried FIDA before but I wasn’t helped. This man is a renowned child rights activist who has sadly represented the country across the globe on issues pertaining children’s rights and more embarrassing, Gender based violence. He is currently working with World Education International. Due to his work history, he knows so many influential people in the family courts, Police, the gender and justice ministries, plus he has all the money to bribe anyone. He recently sent me messages telling me he had a new wife with whom they are raising my children. All I want are my kids. I have not heard from them in over three months since he and his relatives don’t talk to me.

Every time I ask him to let me see my kids, it is as if I have opened a can of worms for endless insults. I’ve tried several lawyers but this man has so many connections. I tried drinking, out of frustration to forget but it didn’t work. I have since turned to prayer and abandoned my drinking habits to rebuild my life but my heart still aches for my little ones. They are too young to be on their own without me, especially with a father who is bitter with their mother, a father who has denied them the opportunity to enjoy their mother’s love especially at such a tender age. I forgave him and I am willing to have shared custody because I know we are both equally important in our children’s life but he is so bitter yet I am the victim in all this. I am so heartbroken. I want my babies.

To all the women, activists, authorities, lawyers, fellow parents, journalists, for how long shall I and other women suffer in silence under the heavy boots of the rich and the connected? Don’t my children deserve their mother’s love? How can court award custody of such young kids to a father without hearing from their mother?

Please I beg of you, kindly help me share this message and tag whoever can help me access justice for my little ones. I know there is a kind lawyer out there who can help me access justice. Please help me rescue my children. I am totally stuck. Thank you very much and may the good Lord richly reward you.

#RescueShanelleAndMalcolm. Prisca Baike

Movit kicks off community campaign dubbed ‘Kuma Life Yo’

Manufacturers of the best quality and affordable cosmetics in a timely fashion and efficiently supply them, Movit Products has kicked off community campaign dubbed ‘Kuma Life Yo’.

The campaign is aimed at sensetising motorcycle riders to wear helmets to help them their lives in case of accidents.

“Today Movit kicked off a campaign of giving back to the community called “Kuma Life Yo, Yambala Helmet” at different Boda Boda stages. We started with Bunamwaya, Kajjansi and Nabbingo stages,” Movit posted.

This two day campaign is led by Ndahiro Peter, Movit Brand Manager, Kitenda Robert, Movit PR Manager, and Jeff Bossa, Movit Events Supervisor.

In related developments, the company with over 3000 employees, yesterday launched a 2 day blood donation drive at their office premises in Bunamwaya.

The management said the donation is aimed at contributing to the nation’s blood banks in light of recent blood shortages. “At Movit, we value your life as much as we value your image”

Meanwhile the week has ended on a high note for the cosmetic company (Movit Products Limited) emerged as the Gold winner in the cosmetics category on Thursday night at the Presidential Export Awards.

The award was presented to Movit by the Prime Minister of Uganda Hon. Ruhakana Rugunda, and the minister of Trade, Industry and Cooperatives Hon. Amelia Kyambade.

NWSC boosts water supply reliability in Mbarara

The National water and sewerage corporation Mbarara area has completed system upgrade works at Ruharo water treatment plant.

The works included the construction of a new DN 400 (16″) steel pipe and reconfiguration of associated pipe work and systems to add more water to the network.

According to Mbarara area General manager Mr Ekanya Emmanuel, the newly completed works will add over 2000million litres of water into the Mbarara water network.

Other interventions that will include installation of a new 500m3/h raw water bigger capacity pump that has already been shipped and expected in the country very soon. This will add over 1million litres of water per day to the network.

Mbarara area engineer Emmamuel Mujuni assured residents that daily production will very soon move from the current 13million litres of water per day to 16million litres per day.

NWSC MD Dr.Eng Silver Mugisha shared that the works are part of the corporation’s ongoing water supply stabilisation plans aimed at boosting water supply reliability in all NWSC areas of operation.

Dr Silver added that the corporation is looking at other measures like new clarifiers at the plant in Mbarara, motorised boreholes in various parts of Mbarara to boost water production and the much anticipated Isingiro water supply system along river Kagera.

The new Isingiro water supply system will improve water supply in Isingiro, Mabrara, Masaka corridor and the surrounding areas he added.

NWSC MD ENG. Silver Mugisha

NITA-U: False Reports Meant to Undermine IT Infrastructure Development

National Information Technology Authority – Uganda (NITA-U) has revealed that false reports about its activities are meant to undermine IT Infrastructure Development. A local newspaper published an article allegedly exposing fraud at the institution.

Authorities at NITA-U told this website that the false information is aimed at undermining development plans at an institution mandated to coordinate, promote and monitor Information and Technology developments in the country.

The information that was used in the story was obtained from “a

whistle-blower attached to the Internal Security Organisation (ISO).”

In one of the scams shown in the story, the publication reports that the Authority is about to cause a huge financial loss to government after awarding a contract to develop infrastructure to expand broad band access and use in Uganda – to the highest bidder instead of the lowest.

Huawei is the said beneficiary of the project — Regional Communications Infrastructure Program (RCIP) – which will cost $75 million (Shs270 billion).

The bidding process, which by the way is still ongoing, attracted six companies, and of them all, Huawei was the highest bidder.

And according to this kind of bidding, the lowest bidder should be the one to scoop the contract.

NITA-U, in details, responded to all those misunderstandings in the reported story;

This story, using information from NITA-U, rebuts all those reports.

Internet charges on Government Ministries, Departments & Agencies and Local governments

In the said report, the whistle blower indicated that Nita charges $300

(Shs 1.08 million) on government ministries, departments & agencies and local governments per mbps, which is too high compared to what is paid in neighbouring countries like Rwanda where government pays $50 (Shs 180,000) per mbps.

That, according to Nita, is false.

“By the end of Financial Year 17/18, NITA-U plans to have connected 730 MDAs and Local Governments to the backbone. There are currently

321 MDAs and Local Governments (LGs) already connected to the NBI (National Backbone Infrastructure). This means that more MDA/LGs will access reliable internet at a low cost, which translates into significant cost savings for the Government of Uganda,” reads Nita-U’s statement.

“NITA-U remains committed to digitizing Uganda by reducing the cost of internet connectivity, which is a significant barrier in encouraging the use of Internet across the country. This effort has been deliberate and we are happy to have led the industry in reducing the cost of connectivity to Government offices by over 84% since 2010, when 1Mbps cost a government office $1200 to the current cost of $70 for 1Mbps.”

That aside, the Authority notes that there is a planned reduction in the cost of internet to Government offices that will take effect in

July 2018; the charges will reduced further to $50 per 1Mbps.

In related achievements, since 2011, NITA-U has successfully completed three phases of the National Backbone Infrastructure (NBI).

With over 2,400km of fiber laid across Uganda, a number of towns have been connected, these include Kampala, Entebbe, Mukono, Jinja, Bombo, Busia, Tororo, Mbale, Malaba, Kumi, Soroti, Lira, Gulu, Elegu, Masindi, Kyenjojo, Fort Portal, Kasese, Bushenyi, Masaka, Mutukula, Mbarara, Kabale and the Katuna Border Post.

Additionally, extension of the NBI is planned for the following districts in West Nile; Pakwach, Nebbi, Arua, Yumbe, Koboko and Adjumani.

Certification Services Contract irregularly awarded

As per The NITA- Act 2009 and The NITA-U (Certification of Providers of IT Products & Services) Regulations 2016, NITA is mandated to carry out certification of IT service providers.

But, according to the whistleblower, the IT regulatory agency awarded to Comtel Africa a contract to certify ICT companies that want to do business with government.

The company in question is owned by a former NITA-U board member, and it was allegedly allowed to take 80 per cent of the revenue it collects and only remit 20 per cent to NITA-U.

However, NITA-U says that CyberQ Consulting, an Indian company, is instead the one that won the deal and later on decided to partner with Comtel, a local company.

This was reached after an international bidding process, says Nita.

CyberQ are a global company with extensive experience with over 650 clients across 24 countries.

Furthermore, the Authority notes that “this procurement was carried out as per the Public Procurement and Disposal of Public Assets Authority (PPDA) rules with quality control at each stage to ensure all the bid requirements were met and the consequent award was considered compliant to the PPDA regulations.”

Explaining the part on benefits, NITA-U shows that “the procurement is turn-key in nature, what this means is that CyberQ/Comtel undertook to design, construct and implement the Certification of Providers of IT Products & Services.”

It adds, “This involves operational costs associated with running a full-functional certification office with salaried staff, tools of trade, office equipment, a lot of field visits across the country and other related expenses. Therefore the revenue share between CyberQ Consulting and NITA-U took into consideration the nature of the project, turn-key.”

[If that explanation of turn-key up there wasn’t helpful, refer to this: a defined by Google: “of or involving the provision of a complete product or service that is ready for immediate use.”]

On comtel being owned by the board member, the agency says, “being a former board member of an institution doesn’t preclude one from participating in a commercial activity,” adding: “This would be unfair and unreasonable.”

The cost of construction of a manholes and buying is high

The publication’s report shows that Nita “pays $1,200 (Shs 4.3 million) for manhole covers that the same supplier sells to MTN at Shs 400,000.”

Nitsa insists “this is untrue.”

The Authority writes, “A simple check in the market will reveal that a transmission manhole is more than just a cover. It includes culverts, a concrete cover, joint boxes (JB) to mention but a few.”

It adds, “Therefore to state that the cost would be Shs400,000 would not be a fair assertion.”

Below is a description of the transmission manholes that NITA-U builds:

 Manhole and accessories:

Manholes are precast with a diameter of 1100mm (outer diameter) and 900mm (inner diameter), 200mm thickness. The duct/pipe entry holes to manhole are placed at the bottom, 100mm from the base such that it lines up with the underground ducts. The manhole base is 1300mm diameter and 100mm thick. The precast concrete top section is 1100mm diameter and 100mm thickness. Accessories include cable bearer that holds the cable slack into one position.

The Manhole cover

The manhole cover is made of polymer, hard plastic branded with NITA-U logo. The Manhole cover constitutes of the ring, and removal cover.

The ring is precast with the Manhole top section and the 600mm diameter removable cover is placed on top of the ring.

iii. Transportation & Installation

Precast manholes transported to site are placed in excavated pits (2m by 2m) with the top cover raised slightly above the ground or at ground level for roadside path ways. The level of the base is made in such a way that the duct entry holes to the Manhole line up with the underground cable ducts. Backfill material is placed around the ring and compacted.

Installation process

(All information in italics got direct from the statement.)

Port switch charges

Responding to allegations that Government is being cheated in the procurement of Cisco switches, which NITA-U buys at $2,600 (Shs 9.3 million) as opposed to Shs 1.4 million on the open market, the

Authority said:

“The contract for extensions to the NBI defines a Cisco 2960 24 port. This switch on the market starts at $2400. A quick search on the internet would show this price.

“Costs for switches are determined by the functionality required of those switches. Just stating the number of ports is not enough to determine the functionality or the cost of a switch.”

ALARMING!!! WSDF_C rocked by Multi Billion Corruption Scandal, Project supervisor, Felix Twinomucunguzi on the Spot!

A MULTI BILLION corruption scandal has rocked the Water and Sanitation Development Facility (WSDF), a project under the Ministry of Water and Environment with the top bosses including the project supervisor, Felix Twinomucunguzi are on the spot.

A report leaked to this website reveals rot at the WSDF-C project that is infested with corruption related scandals, with the national coordinator Felix Twinomucunguzi at the centre of the evil and service depriving activities.

According to information availed to us, Felix works closely with Moses Bujure, currently based in Mbale.

Felix and Moses, this website can reveal, connive to swindle donor funds.

WSDF is funded by African Development Bank and the European Union.

According to reports these scandalous corruption acts have been going for years.

It all started, when Felix Twinomucunguzi influenced   most of the administrative jobs handing them top posts in Wakiso, thereby transferring the non compliant ones to upcountry/regional offices.

By this Felix was on a mission to get compliant ones near him in order to execute his dubious deals.

One of the transfers that raised eyebrows was when a high performing female administrator was transferred to Mbarara in favor of his friend and fellow tribes mate.

Since the said transfer Felix and his cohorts have managed to siphon funds out of the project with no question.

The female admin, it is said adamantly refused to cooperate with Felix and his gang.

With the female staffer out of the picture, Felix managed to handle his dubious activities, accumulating massive wealth including several properties in Kampala and Wakiso.

According to the detailed report on our desk Felix connives with various project managers and solicit money from locals in different regions of the country.

Yet according to donors World Bank and ADB, these donor projects are meant to strictly be free of charge.

For example in Kiboga, peasants contributed money to get what were supposed to be free water services that include boreholes and piped water. In Hoima, Felix connived with locals to inflate prices of land where the project was to pass. However, government later decided to use another route something that didn’t go well with Felix who was supposed to bag a big kickback from the land owners.

All this money is kept by Felix and his crew.

This is done without the knowledge of development partners, World Bank and ADB.

Further kick backs from suppliers and contractors like multi industries are the order of the day. Just a few months ago, it is said Felix through the Eastern Uganda coordinator Moses Bujure received a kickback of Shs200 million from Plan Bass, a supplying company.

Like already noted, Bujure was recently transferred to Mbale from Wakiso as part of the measures to break the wide corruption chain in WSDF.

The source went on to reveal that Felix and Moses recently asked for money from Multiple industries after giving them business to supply building materials.

Felix is said to have amassed vast wealth all over the country majorly in Kampala, Wakiso and in western Uganda.

It must be noted that Felix works very closely with the water ministry commissioner a one Herbert who is his project supervisor. Felix has a lot of money and has amassed a lot of wealth like cars, houses and farms in Kampala and Wakiso and in western Uganda. Felix also spends a lot of money on woman a reason why he separated with his first wife and fell for her current wife who is a doctor.

Felix is responsible for most of the audit queries in auditor general’s 2015 report as will be shown in the next article

More details to follow in our next articles…

Emirates and flydubai to offer travellers even more connections in 2018

Partnership now covers 81 destinations, offering customers a breadth of travel options to, from, and via Dubai

Over 165,000 passengers have benefited from the partnership since launch

Emirates and flydubai will offer travellers even more connectivity and flight options in 2018, with new codeshare flights planned for various destinations across the globe including Entebbe.

Both Dubai-based airlines currently offer customers a breadth of travel options across their complementary networks, with codeshares to 81 destinations and more to follow.

The partnership initially began with codeshare flights to 29 cities, and this has quickly expanded to meet demand as customers realise the benefits of increased flight frequencies, expanded access to global destinations on a single ticket, the convenience of checking in their baggage through to the final destination, smooth transfers during transit in Dubai, and more.

In the two months since the first codeshare flights took off on 29 October, over 165,000 passengers have benefitted from the partnership.

Click here to see the list of Emirates and flydubai partnership codeshare destinations.

Smooth journeys

Emirates and flydubai will continue to offer travel experiences reflecting their individual brands. For bookings under the codeshare, Emirates passengers will receive complimentary meals and the Emirates checked baggage allowance on flights operated by flydubai in Business and Economy class.

Connecting via Dubai’s ultra-modern hub offers a smooth transfer experience and under the partnership, passengers will benefit from a reduced minimum connection time of 120 minutes between Emirates’ home in Terminal 3 and flydubai’s in Terminal 2.

More benefits for frequent flyers

Emirates Skywards members earn Skywards miles and Skywards Tier Miles on codeshare flights as per the existing Skywards programme.

In addition to the Emirates free checked baggage allowance, Skywards Premium members can also enjoy their extra checked baggage allowances of 20kg (Platinum members) 16kg (Gold members) and 12kg (Silver members) on codeshare flights operated by flydubai.

Skywards Silver, Gold and Platinum members travelling on codeshare flights can access flydubai’s Business Check-in counters and receive priority tags.

Further benefits for members of each airline’s frequent flyer and loyalty programmes will be announced in due course.

dfcu Bank to extend financial literacy program to Luweero District

Residents of Luweero are set to benefit from dfcu Bank’s financial literacy program through the banks Savings & Investment Clubs and Women in Business (WIB) flagship programs.

This was announced today during the handover of 600 bags of cement valued at close to UGX 17 million (seventeen million) that will go towards the completion of the Luweero District Head-quarters construction. The event took place at the district headquarters.

dfcu Bank’s Head Brand, Marketing and Communications Jude Kansiime (2nd right) hands over 600 bags of cement to Luweero District Chairman Ronald Ndawula towards the completion of the district Headquarters

Speaking at the handover ceremony, the dfcu Bank Head-Brand, Marketing & Communications, Jude Kansiime said the contribution to the completion of the district headquarters is a demonstration of the Bank’s commitment to enhancing its relationship with the key stakeholders in the communities in which it operates.

“dfcu Bank holds the development of the communities in which it operates in high regard. We believe that nurturing the relationship with our key stakeholders is a key enabler to the realization of the present and future development goals that help our society make socio-economic advancements beneficial to all,” Kansiime said.

dfcu Bank’s Head Brand, Marketing and Communications Jude Kansiime hands over 600 bags of cement to Luweero District Chairman Ronald Ndawula towards the completion of the district HQs

“Over the coming months, we will be offering financial literacy through our flagship dfcu Women in Business and dfcu Investment clubs programs. We believe that this is one of the ways we can sustainably contribute to community empowerment.

In April 2017 dfcu bank, through its Luweero branch, participated in the Sanitation day organized by the Luweero Town Council in addition to providing food supplies to the Moslem community in Kasana, Luweero during the holy month of Ramadhan as part of its sustainability and responsibility agenda.

Geraldine Ssali, former deputy MD, NSSF comments of David Jamwa case

I have been forced to come out of the ‘Kamooli’ on the issue of Jamwa being given a 12-year sentence. I should also mention that I have never got a chance to meet him or even talk to him.

However, as a Finance professional, I have never really understood his crime on this very transaction of liquidating a bond 3 weeks earlier than Maturity. Bonds carry risk (Now in hindsight these bonds were Crane Bank Bonds which Bank is now no more).

Geraldine Ssali former NSSF Deputy MD

Bonds are financial instruments used to trade, which means they are also speculative in nature and also carry risk however minimal. So a manager can make a decision to exit his position early if they feel the opportunity cost foregone on the remaining interest is not better than the next best alternative use for that money! For example, if a 1 year lucrative Fixed Deposit opportunity is identified and is closing, I can choose to exit in anticipation for more income from a higher yielding FD. This is normally referred to as tactical trading. It’s therefore normal to make gains and/or losses in the course of trading.

Chandi David Jamwa former MD NSSF

This is the reason Directors and Officers liability insurance exists – To cover any losses incurred in the process of doing legitimate business as anticipated.

Otherwise, anybody who cried “Bail out” in 2015 should be punished when their businesses made losses including economic losses.

The judges with all due respect to them may have looked only at the “liquidity” position of NSSF and ignored all the other factors like it’s price, coupon rate/interest rates, exchange rates, tax status, credit rating, commissions, etc and all the other stuff that may be considered “boring”. They have set the wrong precedent/ message in the Market.

The indirect implications of this ruling are that the judgment has killed a percentage of the secondary and primary bond market. Financial Analysts and Fund Managers may not be willing to participate in these bond markets unless they can demonstrate beyond reasonable doubt, the dire need for liquidity.

Worse still, this is tactical trading so a board resolution should not be the answer. Those who carry the gift of making the decisions only agree parameters and thresholds within which to operate and they get on with the job. Imagine if a trader on Wall Street needed a board resolution to sell a share in Walmart……More unnecessary red tape and bureaucracy causing missed income opportunities. It’s is virtually impossible in the world of finance where quick decisions are expected in order to benefit from these trades and make money. This is pure gains and losses on Speculative Financial Instruments that should not become imprisonable offenses otherwise, the Financial and Banking Industry will struggle to get willing managers in this Financial Institutions.

I would challenge those Honorary judges. I suspect a political melancholy than a genuine cause of financial loss. In the Audit world  the internal and external auditors of NSSF may not have picked it up due to the materiality standards – loss of UGX 2.7 billion against UGX 3.8 Trillion ( 2007) may not distort the accounts of the Fund to the extent that they still give a true and fair view of the affairs of the Fund.

On the strong message needed on managers “not playing with worker’s money”, they could have got him on all the other sins like Temangalo along with his board and the rest of the lot that was involved but not on this one I’m afraid. A bad decision made in good faith should not become criminal.

Geraldine Busulwa Ssali, former NSSF Deputy Managing Director