MTN MoMo, UBA and Master partnership sets up mobile payments battle

The event

MTN Uganda in partnership with Mastercard and United Bank for Africa (UBA) have announced a new service that will enable quicker, safer and more convenient online payments globally.

Analysis

The virtual card ‘MTN MoMocard’ will ensure MTN’s ability to provide its customers access to products and services previously a preserve of physical credit card holders while diversifying its mobile money portfolio. Like a debit card that is attached to a bank account, the MTN MoMocard is linked to a customer’s MTN MoMo account but is accessible on any type of mobile phone. All a customer has to do is dial 165*70# and follow the instructions.

The MTN MoMocard is powered by United Bank for Africa, which facilitates the payment transactions online, both locally and internationally.

Zake’s health condition improving – wife

Mityana Municipality Member of Parliament Francis Zaake can now breathe without the help of oxygen masks. Zaake, who has been under Intensive Care Unit at Manipol Hospital in India, following alleged torture in the Arua by-elections.

“Although he is still complains of multiple pains, at least his condition is now much better.” noted his wife Ms Bridget Namirembe who is currently attending to the sick while in India

Zaake was flown out of the country a fortnight following alleged torture. We pray that he recovers soon.

Cipla Quality Chemical Industries starts trading on domestic bourse

On Monday 17th September, 2018 the shares of Cipla Quality Industries (CQCIL), started trading on the Uganda Stock Exchange (USE). The company, completed its initial public offering (IPO) in the month of August, 2018.

The drug manufacturer traded shares worth Ugx1.60mn as its share price closed trading at Ugx262. This is 2.14% higher than the offer price. Stanbic Bank Uganda and Umeme traded at Ugx33 and Ugx350 as both counters generated a combined Ugx13.85mn in turnover. The entire market turnover closed at Ugx15.48mn ($4,053) relative to Friday’s low of Ugx3.07mn ($810).

Zimbabwe cholera outbreak: State of emergency declared

A cholera emergency has been declared in Harare, Zimbabwe’s capital after 20 people died from the disease, and two thousand have been infected, with the number of cases growing daily.

The memories of the 2008 cholera outbreak in the same area are still fresh in many people’s minds. It has led to many fearing a repeat of the outbreak that killed thousands in 2008.

However, authorities from the Zimbabwe government said in a statement that the government is doing whatever is possible to contain the disease. Zimbabweans cannot be sure how long it is going to take to contain this latest outbreak.

Stock market update: 11th September, 2018

 

 

 

 

Turnover at the Uganda Securities Exchange dropped to Ugx52.39mn (US$13,875) from Ugx245.02mn (US$64,961) recorded on 10th September, 2018. The turnover was generated as four counters traded today. 1.40mn shares were traded on the Stanbic Bank Uganda counter trading the most. The bank traded at a stable Ugx33 generating Ugx45.43mn in turnover.

Umeme traded Ugx5.41mn in turnover, Bank of Baroda Uganda Ugx1.50mn and Uganda Clays made Ugx0.048Mn in turnover. Their share prices closed at Ugx350, Ugx125 and Ugx23 respectively. The USE All Share Index gained 0.73% to 1,915.47 relative to yesterday’s 1,943.57

Stocks: market update for the 10th September, 2018

Equity turnover soared to Ugx245.02mn (US$64,961) from Friday’s Ugx16.88mn (US$4,484). Six counters registered activities with Stanbic Bank Uganda contributing 97.57% of total turnover. With its share price stable at Ugx33 per share, Ugx239.08mn was generated in turnover. Bank of Baroda Uganda’s share price dropped by 11.03% to Ugx129per share with Ugx4.29mn made in turnover. Umeme and NIC Holdings traded shares worth Ugx1.05mn and Ugx0.50mn as their share prices closed at Ugx350 and Ugx17 respectively. dfcu and Uganda clays traded a combined Ugx0.094Mn in turnover as their share prices shed 1.16% and 3.15% to Ugx895 and Ugx23 respectively. The USE ALSI declined by 1.07% to 1,901.46.

Umeme invested Ugx68.4b in electricity network

As we await the opening of the new power plants; Karuma and Isimba with (600MW) and (183MW) respectively, Umeme has so far invested more than Ugx1.8 trillion in upgrading its system.

The investment in the electricity network has led to the doubling of the physical infrastructure, improved efficiencies, tripling of customer connections, supply reliability and improved customer service.  “The electricity supply industry is somewhat financially stable with minimal government subsidies. Increased grid expansion and access to electricity contributes to Uganda’s economic development and improves social services such as education, health and household incomes,” Babungi says.

PRAU nite set for 28th September, 2018

The Public Relations Association of Uganda (PRAU) has a new Governing Council. This council was elected during the Association’s 41st Annual General Meeting, held on Saturday 1st September 2018 at Fairway Hotel in Kampala.

Ms Sarah Kagingo, Managing Director of Soft Power Communications LLC, was elected President and Valerie Oketcho, MTN Uganda’s Communication and Corporate Affairs Manager, Vice President.

Other elected officials are Eddie Oketcho as Secretary General; Sheila Naturinda Deputy Secretary-General; Charles Nsamba, Treasurer; Simon Kasyate, Director, PR and Sumin Namaganda as Director of Programmes.

Alfred Geresom Musamali was retained as Director, Discipline while Kezia Koburungi (KIU) and Roland Ssebuliba (Ndejje University) were elected as the new student representatives.

Ms. Kagingo promises to lead the new Governing Council to pursue statutory recognition, improve media and external stakeholder relations, form strategic alliances with PRAU’s sister associations, champion the formation of a fully functional secretariat and increase membership of the association, among others.

According to the outgoing Acting Secretary General, Stella Nkini Ndiwalana, plans are in place for a smooth transition, to enable the new team start working.

“We have arranged meetings that will be facilitated by the outgoing team to give advice, handover reports and generally induct the new team members into the Governing Council”, said Stella Nkini Ndiwalana.

A handover ceremony is planned for Friday 28th September 2018.

“This will be at a special evening event, PRAU Nite, which will also feature keynote speeches from renown businessman Patrick Bitature and Hon. Frank Tumwebaze, Minister of Information and National guidance who doubles as PRAU Patron,” announced Jon Fisher Sekabira, the outgoing Director of Programmes.

The venue for the special PRAU Nite will be announced later.

The Public Relations Association of Uganda (PRAU) is the umbrella public relations body of Uganda having been set up to uplift the standards in and promote the public relations profession in the country. Membership is open to all PR and communications practitioners, business enterprises, SMEs, government bodies, PR agencies, NGO’s, students pursuing PR related courses  and in-house PR departments.

At least 19 killed in plane crash in South Sudan

Nineteen people were killed when a small passenger plane crashed into Lake Yirol as it tried to land in thick fog in central South Sudan, reports say. Only four people, including two children, survived the crash, said government official Taban Abel Aguek.

The victims include the pilot and co-pilot, a staff member of the Red Cross and an Anglican bishop, he told AFP.

The aircraft was carrying 23 people from the capital, Juba, to the city of Yirol on Sunday.

“When it arrived the weather was so foggy and when it tried to land it crashed into Lake Yirol adjacent to Yirol town,” Mr Abel Aguek, the regional government minister

Source: BBC news

MTN Uganda supports Tooro kingdom empango celebrations

MTN Uganda has announced a Ugx 20 million contribution to Tooro Kingdom’s ‘Empango’ (coronation anniversary) celebrations. Empango is scheduled to take place on September 8th, 2018 at the seat of Tooro Kingdom, the Karuziika Palace.

MTN Uganda’s contribution is a sign of a commitment made in April 2018 when the CEO Wim Vanhelleputte visited the Omukama of Tooro at the Karuziika Palace in Fort Portal town. While there, the Omukama and the CEO held cordial talks towards supporting development activities in the kingdom.

Tooro Kingdom Prime Minister (Omuhikirwa) Bernard Tungakwo Ateenyi received the contribution on behalf of the Omukama of Tooro, at a brief ceremony held at MTN offices in Kampala this morning.

“The King of Tooro, His Royal Highness Dr. Rukirabasaija Oyo Nyimba Kabamba Iguru Rukidi IV expresses his deep appreciation to MTN Uganda for its generosity. We are particularly pleased that MTN Uganda has indeed followed up on its discussion with the Omukama. This is a step in the right direction for us; and so we pledge our full participation,” he said.

As part of the Empango celebrations, Tooro Kingdom has organized a series of activities aimed at uniting the Batooro and well-wishers in celebration of the coronation anniversary of the King of Tooro. The Omukama ascended to the throne in 1995, at three and a half years, shortly after his father passed on. He is the 12th King of Tooro Kingdom.

MTN Uganda CEO Wim Vanhelleputte said, “MTN is proud to associate with a vibrant celebration of culture and the heritage of our friends, the Batooro. Together with His Royal Highness the Omukama, we recently agreed to forge a strong partnership that will see MTN support the Kingdom’s development initiatives especially among the youth. We are cognizant that the youthful population is brimming with ideas and initiatives which need to be supported for the development of our country.”

He added, “Accept our contribution towards the successful organization of the Empango celebrations this year. We look forward to ever greater engagement going forward.”

Tooro Kingdom planned week-long activities will run in all the districts which make the current Kingdom structure including Kyenjojo, Kabarole, Ntoroko, Kamwenge and Kyegegwa. These include a Amasaza football tournament, a tourism expo at Karuzika Palace Grounds, HIV/AIDS Conference at Mucwa and a subsequent marathon, a kasiki on the eve of the event and the Tooro AgriBusiness Exhibition at Boma Grounds, Fort Portal.

The Chief Guest will be the Prime Minister Rt. Hon. Dr. Ruhakana Rugunda, who will be representing the President H.E Yoweri Kaguta Museveni.