By Our Reporter

Uganda Telecom has this year partnered with smart phone makers idroid to offer their customers a range of choice in their portfolio of services. Last week, the idroid simu was being sold at a discounted price.

Earlier this week, idroid and UTL announced a demo sale where phones were also being sold at discounted prices. They also launched an open box sale where their new range of smart phones were available at 40% off retail prices at UTL headquarters in Kampala.

Speaking about the demo sale, UTL Brand Manager Bright Baba said the initiative was in line with the brand’s commitment to provide services that are affordable for their customers.

“UTL has always been the network of choice for the Ugandan customer who wants affordable prices. Our partnership with a brand like idroid cements this commitment because the phones they are selling are a favorite of most of our customers. We will continue to give them the best,” he said.

Idroid Africa co-founder Jawad Qureshi on his part lauded UTL’s marketing drive that aims at taking services closer to the people.

“Idroid smartphones are made with the customer in mind. We aspire to give our customers technologically advanced handsets at an affordable cost. Our partnership with UTL is also a move in the right direction,” he asserted.

By Mariam Kigongo

We all have had of some few experiences that are more humbling and for sure sometimes frustrating than reducing your life’s work and experience to the few pieces of paper that every applicant knows as a cover letter and resume. We spend so much time perfecting these documents yet, it all boils down to whom you are handing them to. For a fact, the person making the hiring decision takes only 15 seconds on average to know whether to say “yes”, “maybe” or “no”. While presenting yourself through a resume and cover letter is a tough challenge we all have to face, there are several useful tactics that could genuinely make you, and your potential value to the organization, stand out.

Whenever you seat down to prepare a cover letter and resume, always take a moment to get inside the head of the person doing the first screening. These are ultimately the only three things an employer asks during those crucial seconds of analysis, that everyone should take note of and follow: –

Can you do the job?

Basically what this means; do you have the skills, experience, and education to be able to fulfill all the requirements needed in the job description? Or have you demonstrated that you are able to succeed in a similar role or under any similar circumstances?

Do not expect employers to figure out how your past experiences can be applicable to the position in question. All bullet points on your resume should explain and demonstrate what you could do if you were hired. For instance, you may know that your Graphic design work can have some few aspects of marketing and communication or administration where you can apply these skills into these jobs. It is useful to explain further so the employer can get a good understanding where to place you. Spell out how all your experience can directly relate to the job for which you’re applying for in regards to the job description.
You should always remember that your resume is not merely a way to show what you have accomplished in the past, but it also can be one of your best tools to demonstrate what you could accomplish for each organization. There are so many ways to improve your resume, some of which are among everjobs job journals. These are very helpful in guiding one to write the perfect resume and cover letter. All one has to do is sign up to www.everjobs.ug create an account and look through the job journals for guidance.

Will you manage to do the job?

This simply means are you committed to the mission and issue of the organization? Have you already demonstrated the work ethic necessary to succeed in this specific line of work?

I have seen so many candidates coming to the everjobs Uganda office very dedicated and committed to finding a job. They wake up early and come to the everjobs Uganda team for guidance. We see their drive and commitment and as a team, we are always ready to assist. Be committed to all that you do, whether it’s for looking for a job or work ethic.

Will you be able to fit in?

Can you relate in terms of speaking the language of the organization or company? Do you exhibit enthusiasm for this particular job at any agency? Does your sense of humor resonate with the prospective workplace?

These are all aspects employers want to know to see that you will feel comfortable working in the organization and that you can relate with your colleagues. Your ability to fit in with any organization’s culture is not something you have a lot of control over. Some people can relate it to dating; you and your date either have chemistry or you don’t. Hellen Nakyeyune, the Business Growth Manager of everjobs Uganda, says, “It’s all about having the right attitude for every interview you go for. If you are not confident, you lower your chances to make a good impression for the employer to hire you.”

Lastly, most important key points to keep in mind;

Never lose hope after an interview. Be patient, do not keep idol and always apply to other different jobs to keep busy. This maintains your levels of enthusiasm and also raises your chances of finding employment. During the CV workshop last year on December 17th 2015, we invited the HR managers of Picfare, East African Business Week and Jovago to address the applicants on what to consider when going for an interview. We also held interviews where applicants got a chance to interact with the HR bosses of these three companies and also attained certificates for participating in the CV workshop.

Patrick Kabayo, the Business Growth Manager of everjobs Uganda says, “84% of hiring managers at non-profit organizations have responsibilities in at least one other area, most often in program management, communications, or even in office management. Lack of time is one of the biggest reason why they say it can take a while to get back to you. For this reason, it is always good to leave a thank you email or note, expressing your appreciation of their time taken to interview you. This not only depicts good ethical behavior on your part, but also leaves them with a good impression about you.”

Nakyeyune adds, “Do not call them constantly, they will call you. Also because of their limited time and resources, 40% of hiring managers prefer that you follow up about your job application status. Keep in mind, this does not mean that 60% like it. Just a few say they do not, so it is always best to send out a thank you email and be patient as you look somewhere else, keeping your options open.”

Every Job interview you go for, always show your passion about the job. Convince the hiring manager to see your strive and ambition about the company and also tell them about other skills you may possess that could be useful for the company as well.

Always keep in mind that your cover letter and resume are meant to attract hiring managers’ attention and lure them to invite you for an interview. Make these applications convincing and true so the hiring managers would not only be interested in where you went to school, but also in the achievements or qualifications you may have that he/she would like to know more about.

By Our Reporter

Africa has immense growth opportunities which can be profitably exploited with a combination of the right skills and investor goodwill. This is according to Qalaa Holdings Founder and Chairman Dr. Ahmed Heikal.

He was speaking at the just concluded World Economic Forum in Davos Switzerland. Heikal participated in a CEO panel discussion on barriers to investment and the measures needed to get capital flowing to the Red Sea region amid geopolitical uncertainty and a collapse in energy prices.

“We are going through a period characterized by low commodity prices, high debt levels in emerging markets, higher interest rates in the United States of America, sluggish emerging-market economies and slower Chinese growth. One could be forgiven for thinking that for the time being, there will be no investment in the Middle East and Africa region. It is however a fallacy that there are no growth opportunities in the region and it is a fallacy that there is no money. What we are lacking is the risk appetite and the skillset required on the part of the private sector to undertake the type of Greenfield projects that the region needs,” he explained.

Addressing the issue of lack of transparency in the region, Heikal explained important strides have already been made in that respect.

“The Development Finance Institutions (DFI’s), Export Credit Agencies (ECA’s) and Sovereign Wealth Funds (SWF’s) that are now funding projects in the region are requiring companies to abide by stricter codes of conduct.
These sentiments echo the objective of the Red Sea Foundation a non-profit entity that was launched at DAVOS. The Foundation aims to actualize the enormous potential of the region by enhancing the logistics infrastructure, promoting trade among Red Sea region countries and encouraging foreign investment. It brings together the public and private sectors and civic society to build a new growth engine for the global economy,” he said.

Uganda, Kenya, Egypt, Burundi, The Democratic Republic of Congo, Djibouti, Eritrea, Ethiopia, Iraq, Jordan, Madagascar, Mozambique, Rwanda, Saudi Arabia, Somalia, Sudan, Syria, Tanzania, UAE and Yemen make up the Red Sea region.

“Governments are now starting to focus on fighting their own battles, dismantling the bureaucracy, playing the role of regulator and letting the private sector do its job. Governments cannot continue to shoulder these funding needs, or else emerging markets will wake up to a large credit crisis in five years,” Heikal noted.

Qalaa Holdings, the parent company of concession Rift Valley Railways (RVR) has been able to successfully tap into a wide pool of funding resources to fund large-scale infrastructure projects. The Uganda and Kenya RVR is one such project. Currently at midpoint, it is a turnaround program worth US$ 287 million that began in January 2012 to revitalize rail transportation in the two countries.

By Silvia Nyambura

Uganda’s financial sector continues to present a lot of opportunities for new players. With only about 6.6 million bank accounts out of a population of over 35 million, most being youth between 18 and 35, there is still room for new players and specialized services.

It is on the back of these numbers that the Commercial Bank of Africa (CBA) with roots in Kenya has officially launched its activities in Uganda. The bank previously had established operations in the country but left in 1971 following political developments. In 2012, CBA re-entered Uganda as a Greenfield Business, was granted a commercial banking license in January of 2014 and has been operating ever since. Its core business is centered around corporate banking, business/SME and personal banking sectors, providing a full range of financial products and services.

Speaking at a press conference held at the Bank’s headquarters in Kampala this morning, Samuel Odeke the CBA Chief Executive Officer said, “The integration of the East African Community (EAC) has provided great opportunities. It combines not only a larger population of the un-banked but also the discovery of natural resources like oil and gas and other minerals. These are all great prospects for investment that as a bank we want to tap into.”

He explained CBA has over the past 2 years provided financing for a number of sectors including infrastructure, trade and manufacturing but has continued to identify other areas of expansion.

“So far we have invested Ushs 50 billion in capital including the Ushs 25 billion requirement by the regulator. This is a clear indication of our commitment to this market. Although we have not been able to recover all the investment, as of December 2015 we were able to break even and meet all our operational costs. This is impressive growth in such a short period of time. This has been made possible through our customer-centric services, good management and referrals from our mother company in Nairobi Kenya,” Odeke added.

The bank has a few unique credit products including Visa credit cards, insurance premium financing that sees CBA pay insurance companies for premiums on behalf of clients and the customer pays back with interest, to mention but a few.

“We are in the process of getting approval from the Central Bank to launch a Micro Savings and Loan Products to the mass market through Mobile Telecom platform. This will allow customers save as well as access loans through their mobile phones. Although our loan default rate has remained lows despite the risk that comes with our products, we are linked to Credit Reference Bureaus that further help us maintain risk,” Odeke explained.

CBA Board Chairman Dr. William Muhairwe said, “There are only about 6 million Bank accounts in Uganda with a little over 18 million Mobile Money accounts. This goes to show the opportunities available in the market.We target the high end of the market and high networth individuals to drive financial inclusion.”

By Mariam Kigongo

Uganda’s economic update mainly focuses on the importance of jobs in the context of Uganda’s growing economy. As it is for other countries around the world, jobs are very essential for Uganda’s development because they determine the living standards of every individual and household. They also help support economic transformation and promote social cohesion.

Uganda’s economy has grown significantly over the past years. This growth will continue in the future. Currently however, a significant proportion of the country’s population are not benefiting optimally from this growth. Most of Uganda’s labor force is employed but in rather low productivity activities. This is largely because most of the largely productive and rapidly expanding economic sectors are often more capital intensive than labor intensive. For this reason they employ a small sector of well-experienced people in those fields.

“In 2016, we hope to see a change in the employment sector, where the everjobs Uganda team has noted that the majority of the companies in Uganda employ the most people in Sales and Marketing. Positions in Administration and ICT are also on the rise. We however note that with ICT, most employers require people with more experience in such fields to fill those positions.” says Patrick Kabayo, the Business Growth Manager at everjobs Uganda.

Uganda’s labor force is on the rise everyday growing above 4% every year. By 2020, there could be an additional 95% of potential workers in the labor market. This will further increase the challenge of creating more jobs and achieving equitable growth.

The team at everjobs Uganda is willing to achieve this mission by getting more employers to post their jobs on www.everjobs.ug. There they will be able to gather relevant applicants for their vacancies, as well as cite the best talent from a vast database of CV’s through the system’s convenient headhunting function. The team foresees a significant growth in the employment sector this year and is willing to make sure it happens.

By Our Reporter

The Board of Directors, Uganda Telecom (UTL) has appointed Mark Shoebridge as the Managing Director. Shoebridge will assume the new role effective 8th February 2016, taking over from Godfrey Kisekka who has been heading the Executive Management Team that has been in place since 21st July 2015.

The appointment has been hailed by the telecom’s staff.

“On behalf of the Board of Directors, I welcome the new MD back to the UTL family at this time. I am personally excited about the company’s future and look forward to the continued rescue push. I remain confident that our strategy and investment plan that is being discussed by the shareholders, will allow UTL to recover and retain its competitive position in the market, as we endeavor to deliver on our commitment to create value for our stakeholders,” said Stephen Kaboyo, the Board Chairman, Uganda Telecom.

Previously, Shoebridge has worked as the Executive Head of Operations at Vodacom Business in Nigeria. Before that he was a substantive Chief Fixed Services Officer, heading the fixed line and ISP divisions of the Company since 2013. He is a highly qualified telecommunications and IT professional with over 20 years experience in diverse business conglomerates including Nostracom Telecomunicaciones, SDL plc, Modus Media International, R.R. Donnelley Global Turnkey Solutions and Lionbridge.

Commenting on his new appointment Shoebridge said, “I am delighted to accept the role of Managing Director of Uganda Telecom and welcome this exciting opportunity to lead the team to deliver continued business development and success of the company.”

By Our Reporter

MTN Group has announced that customers in Zambia, Rwanda and Uganda will now be able to receive money instantly into their MTN Mobile Money wallets from WorldRemit, a leading digital money transfer service.

The launch follows the signing of a global partnership agreement earlier this year, to enable WorldRemit customers all over the world to send international remittances to MTN’s Mobile Money customers.

“This partnership makes sense for both companies, as WorldRemit and MTN share a disruptive approach to innovation and bringing impactful services to our customers. Together, we are now providing an instant, fully digital and very affordable solution to send international remittance to Rwanda, Uganda and Zambia. Other countries will follow soon,” says Serigne Dioum, Head of Mobile Financial Services, MTN Group.

Also speaking in a press statement seen by this magazine, WorldRemit Senior Mobile Analyst Alix Murphy said, “At WorldRemit, we are pioneering international mobile-to-mobile remittances. Our partnership with MTN allows our customers around the world to send money instantly from the WorldRemit app to MTN Mobile Money users in Rwanda, Uganda and Zambia. Together with MTN, we make sending money home as easy as sending an instant message.”

People in more than 52 countries use the WorldRemit app to send over 300,000 money transfers every month to over 125 destinations. WorldRemit is the leading sender of remittances to Mobile Money wallets connecting to over 20 different services worldwide.

MTN Mobile Money enables users to perform utility payments, save money, purchase airtime and access a range of mobile financial products. To date, MTN Mobile Money is used by customers in 14 countries across Africa.

In keeping with its aim to accelerate the rollout of international remittance, MTN launched recently cross-border mobile money transfer services between Uganda, Rwanda and Kenya. The service allows customers in both countries to transact via MTN Mobile Money with the same simplicity as for a local money transfer. MTN also offers a mobile money cross-border remittance service between Ivory Coast, Benin, Burkina Faso and Niger.

By Our Report

In line with global trends, 2015 was a challenging year for African capital markets in the wake of market volatility and the emergence of renewed global economic uncertainty in the latter part of the year, while the first half resulted in the highest levels of both equity capital markets transactions and proceeds raised in the past five years.

Audit firm PwC has released its 2015 Africa Capital Markets Watch publication. The report analyses equity and debt capital markets transactions that took place between 2011 and 2015 on exchanges throughout Africa, as well as transactions by African companies on international exchanges. Equity Capital Markets (ECM) transactions included in the analysis comprise capital raising activities, whether Initial Public Offerings (IPOs) or Further Offers (FOs), by African companies on exchanges worldwide, as well as those made by non-African companies on African exchanges. Debt Capital Markets (DCM) transactions analyzed include debt funding raised by African companies and public institutions.

Nicholas Ganz, PwC Africa Capital Markets Leader says, “At 31st December 2015, African exchanges had a market capitalization of about US$ 1 trillion, with 23% of this value residing on exchanges outside of South Africa. Though statistics cannot be interpreted in isolation, certain metrics commonly used to analyze global market performance, such as the market capitalization-to-GDP ratio, suggest that untapped value remains in Africa’s capital markets.”

African IPO Market

Overall, US$12.7 billion was raised in 2015 in ECM activity across the continent. Over the past five years, there have been 441 African ECM transactions raising US$ 41.3 billion.

2015 showed a steady overall increase in IPOs of 12% in terms of transaction volume and 17% in terms of US dollar denominated value, as compared to 2014. However, 72% of 2015 IPO value and 54% of IPO volume was carried out during the first half of the year, reflective of the relatively higher levels of consumer confidence as compared to the second half of 2015.

Over the past five years, there have been 105 IPOs raising US$ 6.1 billion by African companies on exchanges worldwide and non-African companies on African exchanges. The top 10 African IPOs by value in 2015 took place in South Africa and North Africa (Egypt and Morocco).

In 2015, capital raised from IPOs by companies on the Johannesburg Stock Exchange (JSE) in US dollar terms decreased by 11% as compared to 2014, largely due to the weakening of the South African rand during the year. Noteworthy is that the rand value of IPO capital raised on the JSE in 2015 increased by 11% over 2014 levels. Capital raised from IPOs by companies on other African exchanges in US dollar terms increased slightly by 3% as compared to 2014. In terms of volume, the JSE saw a 33% increase in the number of IPOs as compared to 2014 and listings on the JSE’s AltX more than doubled.

Over the past five years, the JSE has led African exchanges in terms of IPO transactions and capital raised, at US$ 2.7 billion. In second place in terms of IPO transaction volume after the JSE was the Bourse de Tunis with 23 issuances, while in second place by capital raised was the Egyptian Exchange with US$ 861 million. In third place in terms of volume was the Casablanca Stock Exchange with 7 issuances and third by capital raised was the Nigerian Stock Exchange with US$ 751 million, over 70% of which relates to 2014 SEPLAT IPO.

Since 2011, capital raised from IPOs by companies on the JSE represented 45% of the total African IPO capital and 33% of the total transaction volume.

Coenraad Richardson, PwC South Africa Capital Markets Partner says, “The JSE remains a significant anchor of African capital markets activity, with a ranking of second in the world for exchange regulation and a leading global ranking for ease of raising debt and equity capital, according to the World Economic Forum’s Global Competitiveness Report 2015-2016.”

On a sector basis, the financial services sector continued to dominate the African IPO market during 2015 at 46% of total value and 50% of total volume, followed by industrial, health care and consumer goods sectors in terms of value.

African FO Market

Over the past five years, there have been 336 FOs raising US$ 35.2 billion by African companies on both African and international exchanges.

“Though the growth rate of 2015 FO activity did not match that of the prior year, the trend remained distinctively positive,” adds Andrew Del Boccio, PwC Associate Director, Capital Markets South Africa.

During 2015, FO activity increased by 20% in terms of transaction volume and by 13% in terms of US dollar value as compared to 2014.

In 2015, capital raised from FOs by companies on the JSE, specifically, increased by 17% (in US dollar terms), whereas proceeds from FOs on other African exchanges decreased by 30% from US$ 1.2 billion in 2014 to US$ 827 million.

Over the five year period, the vast majority of FO activity was from sub-Sahara African countries, with 76% and 86% of total FOs volume and value, respectively. Between 2011 and 2015, capital raised from FOs by companies on the JSE represented 85% of the total African FO capital raised and 67% of the total transaction value. Over this period, in second place in terms of both FO volume and value was the Egyptian Exchange followed by the Nigerian Stock Exchange.

On a sector basis, FOs were slightly lower than the five-year average in the financial sector during 2015. There was a significant increase in the technology sector from 7% on average to 23%, driven largely by a December rights issue by Naspers.

African debt markets

African DCM activity has declined since its peak in 2013. Over the past five years, 489 debt transactions took place on African debt markets or, more commonly, by African companies on international markets, raising US$ 110.2 billion, of which 72% was US dollar-denominated. The average of proceeds raised in 2015 was US$ 411 million per transaction, US$ 85 million higher than 2014’s average of US$ 326 million and 83% higher than the average per transaction over the past five years of US$ 225 million.

Darrell McGraw, PwC Nigeria Capital Markets Partner says, “Despite challenging economic times, which are felt heavily in Nigeria, 2016 will be pivotal as companies will be looking to reassess their strategies, which may include divesting of non-core businesses. This will create an opportunity for cash-rich investors, or other corporates to tap into the local debt markets to raise domestic currency bonds. Until relative certainty returns to the currency markets, the popularity of US dollar denominated bonds is likely to taper.”

Richardson concludes, “Growth across the African continent will require continued investment in various sectors including infrastructure, agriculture, financial services, and telecommunications, alongside other industries more traditionally associated with Africa. In 2015, the capital markets reflected this continued need for investment and continued appetite from investors with key portfolio allocations targeted toward emerging and frontier markets.Though this upward trend in activity has been observed over the trailing five-year period, we recognize that uncertainties in the market and economic trends may indicate a more challenging 2016 ahead.”

By Our Reporter

Hellofood in partnership with MTN Uganda have today launched the ‘Feed a Child’ initiative. This initiative follows the Christmas Party held in December 2015 organized by the two companies. 230 children from orphanages in Kampala were treated to a day of fun activities and a special meal allowing them to be part of the Holiday season celebrations.

Under this initiative, members of the public can donate a meal to a child in need by visiting the Hellofood website and clicking on the ‘Donate a meal’ banner. Donations are made using MTN Mobile Money.

The campaign will run from 3rd Feb 2016 to 3rd April 2016 and proceeds will go to feed a child during the Easter Season through the 40 days over 40 smiles foundation, a Kampala-based independent youth-led, charity organization.

“One of the key programs areas of 40 days over 40 smiles foundation is food and nutrition which aligns very well with this campaign. Indeed through its track record, we could not have found a better partner and look forward to successfully delivering this initiative,” said Hellofood Managing Director Ron Kawamara.

MTN Chief Marketing Officer Mapula Bodibe said, “As leading brands in the Food business under the MTN-Hello Food partnership, we are excited to launch the “Feed a child” initiative. Together, we are happy to leverage our platforms and services to make the lives of the underprivileged children brighter. We call upon everyone to join us in this noble cause for together we can make a huge difference.”

By Our Reporter

Journalists from across Africa have until the 29th February 2016 to submit their entries for the inaugural pan-African reinsurance Journalism Awards.

The event is organized by Continental Reinsurance Plc and aims at developing re/insurance reporting in Africa. The awards will also encourage journalists to develop their knowledge on the sector and importantly to recognize the outstanding work of journalists from across Africa.

Dr Femi Oyetunji, the Group MD/CEO of Continental Reinsurance says, “The insurance and reinsurance sector has a valuable role to play in Africa’s economic growth and development and we want to recognize the respected contribution of the media to the sector’s growth. The awards are an extension of our continued commitment to the advancement of excellence in the industry.”

The Award categories are:

1.        Best re/insurance feature article

2.        Best re/insurance news reporting

3.        Best re/insurance industry analysis and commentary

4.        Pan-African reinsurance journalist of the year award

An international judging panel comprising industry experts and academics in journalism will judge the entries. The judging panel will evaluate all submitted material according to the quality of information and how it contributes to raising awareness of the insurance and reinsurance sector in Africa.

The Awards ceremony will be held in the Seychelles in April 2016.

Entry criteria:

Each entrant must submit their published article together with their name, media organization, the date the article was published, their brief profile and photo, together with a 250-word motivation for writing their editorial article.

All submissions must be submitted by 29 February 2016 to, email: CREJournalism@brandcommsgroup.com.

By Our Reporter

Victoria University has today launched the Certificate of Achievement in Oil and Gas Management (7th intake) with classes scheduled to start on 6th February 2016. Classes will be conducted every Saturday and Sunday beginning at 9.00am.

“This is in a bid to contribute to local content in Uganda’s oil and gas sector and to enable Ugandans understand the working of the oil and gas industry. The University is positioning itself as the leading provider of oil and gas education and training in Uganda. International certifications in the Petroleum Industry such as Health and Safety and Environmental Auditing (ISO 14001 EMS), Project Finance, Law and Energy Management can also be arranged on request,” says Dr. Drake Kyalimpa, the Head, Oil and Gas Department Victoria University.

The program targets individuals from Oil and Gas companies, Business managers and Executives, Parliamentarians/Civil society, Vocational workers and Marketers and so on. It is designed to provide students with a well-rounded, global understanding of the ever changing Oil and Gas industry.

“The course shall include a field trip to the Albertine Graben (Hoima and Buliisa Oil fields) to ensure that our students and professionals acquire hands on experience,” he adds.

By Our Reporter

Rift Valley Railways the concessionaire contracted to operate the Kenya-Uganda railway line has appointed Isaiah Otieno Okoth as the new Group Chief Executive Officer (GCEO).

He will assume the new role effective 1st March 2016 and take over the role full time basis on 1st April 2016. He takes over from Carlos de Andrade who has been the GCEO since July 2014.

Commenting on the new development, Andrade, “It has been an honor to be part of the RVR Capex program that commenced in 2012 to witness a major turnaround in revitalizing the Kenya – Uganda railway. A lot of progress has been done in the last seven years when ownership of the concession changed in 2008 and we still continue to do more.”

Otieno comes with over 20 years of high level strategic leadership and business management experience. He has worked with a number of leading regional and international companies most recently with General Electric (GE) where he was General Manager in charge of Health care and Business Operations, for East and Central Africa including Ethiopia, Kenya, Uganda, Tanzania, Somalia, Southern Sudan & Eritrea.

“He has the capability to address safety issues, complete back-due maintenance to improve reliability and hauling capacity, improve services to clients, and capture long-term gains through substantial investments in information technology which are priorities at the forefront of Rift Valley Railways,” Andrade said.

He holds an MBA in Corporate strategy & Finance from University of Warwick, Warwick Business School.

Otieno’s appointment comes at a time when the company is completing a five year investment and transformation program that has seen the company purchase a significant amount of new rolling stock, invest in automated management systems and rehabilitate key sections of the railway infrastructure.

By Our Reporter

There was more activity on the Ugandan bourse this week with total market turnover advancing to Ushs 3.4 billion from Ushs 485.52 million last week. UMEME continued to dominate trading with Ushs 2.6 billion (representing 76.47% of the week’s total turnover) from 4.33 million shares traded. Its share price held steady at Ushs 600.

Stanbic Bank Uganda (SBU) and DFCU had 22.32 million shares and 83,619 shares changing hands to generate a turnover of Ushs 714.27 million and Ushs 79.44 million each. SBU and DFCU shares were stable at Ushs 32 and Ushs 950 respectively.

British American Tobacco Uganda (BATU), Uganda Clays Limited (UCL) and National Insurance Corporation (NIC) moved 100, 108,304 and 123,700 shares to register a turnover of Ushs 2.55 million, Ushs 1.62 million and Ushs 1.36 million respectively. BATU share price was down 5.54% to USHS 25,500, UCL share price was stable at Ushs 15 while NIC shed 8.33% to Ushs 11.
Bank of Baroda Uganda (BOBU) had a turnover of Ushs 186,000 as a result of trading 1,200 shares at Ushs 155 each.

Among the cross listings, East Africa Breweries Limited (EABL) made the biggest gain of 3.46% to Ushs 9,325 whereas Kenya Airways had the largest dip with its share price losing 8.59% to Ushs 149.

The Uganda Securities Exchange (USE) All Share Index ended Friday’s trading session at 1,785.59, representing a 1.48% gain from the past week.

On the other hand, the USE Local Share Index and C8* shrank by 1.52% and 1.54% to end the week at 417.29 and 131.30 respectively.

By Our Reporter

Buganda Land Board (BLB) has officially launched its ‘Weetuukire’ campaign aimed at registering all Title-holders on Kabaka’s land in a bid to regularize their tenancy.

The board’s Managing Director Kyewalabye Male said, “Weetuukire is a campaign calling upon all persons currently in possession of land titles on Kabaka’s land, which were formerly issued by Uganda Land Commission (ULC) and District Land Boards to regularize their tenancy with Buganda Land Board.”

He clarified that the Central Government under the Obote-I Republican constitution of 1967 confiscated Buganda Kingdom assets, of which land was the largest. The 1967 constitution also created the Uganda Land Commission which was given the mandate to manage all public land.

This was further escalated by the 1975 Land Decree which declared all land to be public and vested the same in the State to be held in trust for the people of Uganda and to be administered by the Uganda Land Commission.

Further still, in 1998 District Land Boards were created and given further mandate to manage land within their respective districts.

In 1993 however, the Government of Uganda through the Traditional Rulers Restitution of Assets and Properties Act Cap 247 entered various legally binding agreements with Buganda Kingdom. This culminated into a memorandum of understanding between themselves in 2013 under which various land titles and properties were officially handed back to Kabaka’s government.

“Buganda Land Board is therefore not chasing anyone off the land, we are simply acting within our mandate to regularize the titles and this applies to both free hold and lease titles. Once Buganda Land Board has acknowledged and authenticated one’s tenancy, that person will enjoy security of tenure guaranteed by the true owner of the land,” he added.

Kwewalabye revealed financial institutions and Commercial Banks are now accepting only those land titles that have been validated by Buganda Land Board.

By Louis Badea

Saint Augustine of Hipponensis said, “The World is a book and those who do not travel read only one page.” Traveling opens your eyes to so many new things, you get to learn a whole new world you didn’t know existed away from your comfort zone. One thing we encourage people here at Jovago is to travel the world and learn the many wonders that the world holds in store for you.

Ever wondered how many places in Asia exist away from China, India and Thailand? The many cultures that thrive in Asia, the people, the food and their dialects? Or how many countries on the African continent you have never heard of but exist and have so much to offer? Traveling unveils everything that seemed mysterious and unwelcoming into some beautiful wonder that you will enjoy and even turn into your second home.

Think about traveling through your own country just to learn about places beyond your home district and the city you live in, beyond the places you are familiar with and feed your sight with some new landscapes of nature’s beautiful handiwork.

Nature is a fine woven tapestry that expands miles and miles, you need to see all that and experience an ounce of beauty on that tapestry.

Go see the mountains, see how the night sky’s beauty traverses the waters and how the sun makes everything beautiful and bright throughout the continents of the earth. Learn cultures you never knew existed, see people, meet people and make new friends far away from home in places you never knew you would reach. Amaze yourself by taking a leap of faith with new cuisines and have your tongue dance with happiness at new flavors.

The fact about life is you never learn anything new by sitting in one place, this book that is the world has so many pages and whenever you get a chance, open a new page the read it. Devour it hungrily and hunger for more. In the end when the chapters of your life are closing you will have learned more and acquired enough wisdom about this world to share among those who never got the chance to experience it first hand.

Tell the story of the world the way it should be told, after seeing it.

The writer is The CEO Jovago.com

By Our Reporter

Islamic banking leaders and dignitaries from across Africa and the Middle East gathered at the 2nd annual International Forum on Islamic Finance (IFIF 2016) held on 9th February. The 2 day event which concludes today was held under the patronage of the Government of the Republic of the Sudan, the Central Bank of Sudan and the Ministry of Finance & Economic Planning – and in strategic partnership with the Bank of Khartoum. IFIF hosted 200 dignitaries, central bank representatives, Ministers, C-level bankers, thought leaders and experts who gathered at the Al Salam Rotana Hotel in Khartoum to deliberate on strategies to enable Islamic finance gain prominence and spur economic growth across Africa.

Keynote addresses were delivered by several speakers including; Fadi Al Faqih (CEO of Bank of Khartoum), Musaed Mohammed Ahmed (Head of Sudan’s Banks Union), H.E. Abdelrahman Hassan Abdelrahman Hashim (Governor of the Central Bank of Sudan), H.E. Badr El-Din Mahmoud Abbas (Minister of Finance and National Economy of the Republic of the Sudan) and H.E. Bakri Hassan Salih (First Vice President of the Republic of the Sudan).

Also present was Dr. Anindya Ghose, Professor at New York University Stern School of Business, who was named Business Week’s “Top 40 Professors Under 40 Worldwide”.

“Industries and markets are being transformed by a growing shared technology infrastructure. Indeed, Africa is emerging as an inspiring hub of innovation for social media in the banking sector, enabling unbanked individuals in Africa to access risk averse financing through Islamic banking. The International Forum on Islamic Finance (IFIF) is an outstanding platform to help build awareness of Africa’s digital media proposition in the context of Islamic finance’s push for financial inclusion across the continent,” Dr. Ghose stated.

By Our Reporter

The Ministry of Health in partnership with Merck Healthcare have launched a campaign to raise awareness about Cancer, early detection and prevention in Uganda. Dubbed ‘We Can,I Can’ the partnership highlights the fact that reducing the global burden of cancer depends on the work and dedication of many to prevent and treat the disease.

Making the announcement earlier this week Rasha Kelej, the Chief social Officer of Merck said,“We have no doubt that in order to prevent and reduce the death rate from Cancer and other non- communicable diseases, we will need to see collaboration and collective action from Health Ministries, Governments, NGOs, Academia, media and industry. The size and complexity of the task is so large that no single institution can manage on its own, so integration of effort is necessary to improve access to sustainable cancer care in Africa. We believe that prevention is better than cure, so together with the Ministry of Health we have launched a campaign to raise cancer awareness in the rural areas of Uganda.”

So far, Merck’s work in Uganda has reached more than 4,000 people training them on how to prevent diseases and advising on how to lead healthier lives. By 2018 Merck aims to reach 100,000 community members through its combined diabetes and cancer awareness campaigns as part of Merck Cancer Control Program-MCCP.

Uganda’s Minster of State for Health, Sarah Opendi stated, “Most cancer patients report to the health facility when cancer is in the advanced stage which poses a challenge because nothing much can be done to save the patient’s life. This is partly due to the nature of the cancers since they have no symptoms in early stages but also due to our poor health seeking behaviors.”

According to the World Health Organization (WHO), over one third of cancer deaths are due to preventable causes such as viral infection, poor nutrition and widespread tobacco use.

“It is important to note that once diagnosed early, cancer can be treated and cured. Uganda just like other developing countries faces a wide range of health system challenges and cancer is often not a priority in limited resource settings. Therefore the Ministry of Health appreciates private public partnership with reputable companies like Merck to promote key health guidelines and raise awareness about so that people learn how to detect and prevent it,” she added.

WHO estimates that by 2020, there are expected to be 16 million new cases of cancer every year. 70% of these will be in developing countries where governments are least prepared to address the growing cancer burden and where survival rates are often less than half those of more developed countries.

By Our Reporter

A new Shop Africa Report recently released by Knight Frank has ranked Kampala, Dar es Salaam and Lusaka among the fastest growing metropolitan areas in the world. According to the report, Kampala currently has 128,000 square meters of shopping space in the pipeline.

Judy Rugasira the Knight Frank Managing Director explains there is a huge appetite for one stop shopping centers.

“Developers are building one stop centers where people can shop, work and live in the same space. Knight Frank Uganda is currently in charge of leasing and letting Kingdom Kampala, The Arena and Llyods Mall which are all under construction. This is a key indicator of the city’s prospective growth,” she says.

The report also reveals that from a continental perspective, Africa’s population has more than doubled over the last thirty years to just over 1.1 billion and projects urban dwellers as the majority by 2040. The report studied 47 African countries excluding South Africa which is estimated to have 23 million square meters of shopping center space.

“The continent is experiencing a wave of modern mall development, a trend underpinned by long term economic and demographic growth which is the fastest than any other global region. By The African Development Bank’s definition, around 350 million people in Africa are classified as middle class. Within this group are brand conscious technology savy consumers who demand access to the increasingly sophisticated retail formats offered by the new wave of shopping malls,” it reads in part.

Over the long term, shopping center development is expected to go hand in hand with Africa’s increased urbanization and economic growth. As the sector grows and competition between retail schemes intensifies, developers will increasingly look for opportunities outside of the current hotspots and turn their attention to second and third tier cities, playing a major role in shaping the future landscapes of African cities.

By Our Reporter

E-Commerce giant Africa Internet Group (AIG) and AXA, a global insurance and asset management company have this week announced a partnership in which AXA will become a shareholder of AIG. AXA will provide custom-made insurance products through AIG’s Jumia and reach other e-commerce customer base through AIG’s ecosystem of marketplaces and classified services.

AXA will invest US$ 84 million and own approximately 8% of AIG. Completion of the transaction is subject to customary closing conditions, including the closing of the previous investment round and is expected to take place in the first quarter of 2016.

Ron Kawamara the Managing Director of Hellofood Uganda said, “This new investment is testament to the remarkable products and services AIG businesses such as hellofood have offered to their customers and partners in the last few years. Investors are rightfully showing great confidence in the businesses and the teams that are leading the online revolution across Africa. We are pleased to have a strong international brand like AXA backing us and it gives more impetus to continue to build a strong customer experience and growth our investors and partners expect.”

Denis Duverne, the Deputy CEO of AXA said, “This transaction confirms AXA’s long term commitment towards the African markets and represents another step in our development on the continent. Africa is home to some of the most dynamic and promising insurance markets in the world and our partnership with Africa Internet Group will enable us to accelerate materially our development by having access to their rich customer base and to their state of the art e-commerce technology. Going forward we aim to enable African consumers to better access insurance solutions to create sustainable financial well-being throughout their lives and those of their dependants.”

AXA becomes the 4th shareholder in AIG alongside MTN, Rocket internet and Milicom. AIG is parent company to Hellofood, Jovago, Lamudi, Kaymu, Jumia, Everjobs and Easy Taxi to mention but a few.

By Mariam Kigongo

There are many important things to consider before changing careers, such as salary expectation, motivation, networking opportunities, your reputation and what additional education or training you might need. Here are some few steps mainly to consider before you jump hop onto the next career.

1. Motivation

For most of us, we always change our career hoping for a better salary or better benefits. This is not wrong, however it is always important to examine further your motives for changing careers. Usually, people seek a new career because they are dissatisfied with their current work. You want to make sure you really think about the source of your dissatisfaction. Questions one should always ask themselves, “Do you not like a particular aspect of the work? Do you dislike your workplace? Is your salary too low?”

Regarding, dissatisfaction there may be alternatives other than changing careers. You can consider changing positions with a different employer to get breathing space away from your current position to the new position in terms of shifts or sitting arrangements. Other possibilities are that you are exhausted and need to take a vacation or leave of absence. It is usually a good idea to exhaust other alternatives before making the more drastic move of changing careers.

2. Reputation

If you have already been working in your current career for a quite a number of years, chances are you have established a professional reputation. Depending on your choice of new career, you may have to start from scratch and be a newbie again. You may also lose contact with your former colleagues as well as employers. However, in many cases you can integrate your new career identity with your old one. You will need to think through whether you can use your established reputation and contacts to establish yourself within a new career and if not, whether you are willing to start over.

3. Education and Training

Further education and training is always good to have regardless whether you are changing careers or not. However, you always need to know what type of qualification you may require to get promoted to the next level in your career. This may involve anything from a brief training course to a certificate program to an entirely new degree. Before you make the leap, find out what education or training requirements you will need. Also make sure you have the time, money, and support to undergo more schooling.

4. Networking Opportunities

If you know anyone in your new field, it is best to contact them to find out more about the work place. If you don’t know anyone, it is best to find new contacts that will help you adjust to the work place and grow within the new career. Some ways to do that is to attend conferences, join a professional association, or use your existing network to find relevant people who will help you grow. Another great way to meet new people is during the informational interview where it is a briefing meeting in which you can ask questions and get more information about the new career and position.

5. Salary

All of us would want to find out what our expected salary will be in our new careers. If you have a family and your expected salary is not as good as the previous one, it is advisable for one to negotiate with the employer to be able to get a good deal. However do not negotiate drastically, always be reasonable with your negotiations. Find out what your salary prospects will be when you start, as well as your long term earning potential. Make the right choice by talking it with your family and friends and the last decision is on you before you change careers.

The writer works with online job portal Everjobs