PRIVATE SECTOR FRATERNITY TO ENJOY FOUR CALENDAR DAYS OFF PRESIDENTIAL ANNUAL SCHEDULE AS PRONOUNCED BY PRESIDENT MUSEVENI

Kiira Motors CEO Musasizi Requests Public Charging Points for E-Mobility to Takeoff

softpower.ug, December 07, 2022, 08:57PM |  President Museveni has launched the Presidential CEO Forum (PCF) Annual Report.

File Photo/Courtesy: President Museveni launching the Presidential CEO Forum (PCF) Annual Report at Chobe Safari Lodge last Tuesday, December 06, 2022. 

This was during the 3rd Presidential CEO Forum Bi-Annual Private Sector CEO Forum at Chobe Safari Lodge on Tuesday.

At the retreat, Museveni assured the PCF members that starting next year, he will be using four days off his annual schedule to meet the private sector members in all the regions of Uganda to discuss business.

YouTube Video | NTVUganda : The 3rd bi-annual Private Sector CEO Forum 👇🏾

The Minister of Trade, Industry and Cooperatives, Hon. Francis Mwebesa, lauded President Museveni for ensuring economic development in Uganda by creating a conducive environment that has enabled investments in the country.

He also tipped the Private Sector CEOs to use the current good market in countries like the United Arab Emirates, the UK, China and the European Union to expand their businesses back home.

On his part, the Permanent Secretary and Secretary to the Treasury at the Ministry of Finance, Planning and Economic Development PSST, Mr Ramathan Ggoobi, explained that as a ministry they have prioritized the capitalization of UDB in-order to increase access to capital through the government-owned financial entity.

“We have also been looking forward to increasing the capital share base of Uganda Development Corporation from Shs500 billion to Shs4 Trillion,” he said.

The PSST also told the President that local investors are decrying the corruption tendencies in government procurement processes.

“They say these contracts are rewarded in restaurants to people who offer bribes. What we are doing now is automating the procurement system. By 2025 we want the entire government to procure online.

“We want the procurement system to work in a transparent manner,” Mr Ggoobi urged.

The Vice Chairperson of PCF, Mr Emmanuel Katongole, said they were very grateful to President Museveni for launching the forum (in 2021) that has enabled them to discuss many challenges that have been solved through the platform.

“We are very happy to be part of the growing economy that you have created. We are your creation. The business that we do is here because of the environment you created. We can only say thank you. Wherever you want us to go we shall be with you,” Mr Katongole told the President.

He also assured Museveni as the private sector, they are much willing to work with Mrs Enrica Pinetti to promote the value addition of Uganda’s coffee.

“We request that Madam Pinetti works with the private sector to process the coffee for the better good,” he said.

“Your Excellency, this very retreat concentrated on two areas which included E-mobility and how we can interface and support the PDM, Your Excellency we want this to succeed, we want to participate in every step of it,” he added.

The CEO of Kiira Motors Corporation, Mr Paul Musasizi, also extended his sincere gratitude towards President Museveni for the guidance and leadership he provides to ensure that Uganda’s mobility industry becomes a success.

Mr Musasizi also articulated six key areas, they think as stakeholders could catalyze the development of E-mobility in Uganda.

“Given our conversations with have had with the operators, they need financial support from UDB to allow them to procure the electric vehicles and motorcycles. For E-Mobility to take off, the Ministry of Energy should put in place public charging points and the Ministry of Works should put in place a skilling centre for electric vehicle drivers,” he said.

The retreat was also attended by Ministers and private sector members among other officials.

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STANBIC BANK UGANDA BOUYANCY EXPRESSION IN A TWIN 160TH AND 60TH ANNIVERSARY COMMEMORATION FOR ITS PARENT GROUP AND COUNTRY OF OPERATION RESPECTIVELY

Stanbic Bank joins parent company, Standard Group to mark 160 years of its existence

eagle.co.ug, October 14, 2022 | Stanbic Bank has joined its parent company, Standard Group to mark 160 years of its existence. Established in 1862 in the small town, of Port Elizabeth, Standard Bank Group is the largest commercial bank in Africa, operating in over 20 countries around the continent. In Uganda, Kenya, Tanzania, and South Sudan, it operates under the brand name Stanbic Bank.

File Photo/Courtesy: Stanbic Bank joins parent company, Standard Group to mark 160 years of its existence

Speaking at Serena hotel, Anne Juuko, the Chief  Executive said: “Today is a special day for us in the history of our mother company, Standard Bank Group but also in Uganda as Stanbic bank in Uganda. The Group employs over 50,000 staff members directly and indirectly and serves over 15 million customers,”

She said the group has flown the same flag and the motto; ‘let the standard go forward’ and still honors the principles on which it was founded. Today we are extremely honored to hold a dual celebration because we were not only celebrating 160 years of existence but also 60 years since Uganda got its independence.

The bank reaffirmed its commitment to the communities which it serves. This month, the bank is marking Customer service month through Cooperate Social Responsibility (CSR) activities. The bank has injected over Shs 2billion into the maternal sector, education, agricultural sector and sundry and pledged to give more to the communities which have supported them over the last 60 and 160 years.

“Our commitment to integrity, serving customers, honoring our customers’ wishes, and fair and trading practices will not change. As Tumubweine Twinemanzi, the Executive Director of the Bank Supervision Directorate of the Bank of Uganda (BoU) said, we are the most transparent financial institution. When CBR goes up, we go up, when it goes down, we follow suit. The level of transparency is what our customers can continue to hope for,” she said.

“We have walked this journey with customers who had businesses right from single rooms in basements and two staff members and today they are running multibillion-dollar companies employing thousands of Ugandans and paying billions in taxes. That is the journey we continue to honor,” she said

She said as part of their celebrations, they have partnered with Uganda coffee farmers. “When you think of a coffee farmer, you don’t imagine that a fresh 25-year-old girl will come out to say, I am a coffee farmer but we have found them and we are working and supporting them because we know that the future belongs to them and it is our job to support them,” Anne said

Twinemanzi congratulated Standard Bank Group on 160 years milestone. He said every month; BoU holds meetings with the Chief Executive Officers of Commercial (CEO) banks they confer awards to the Best Primary dealers in Government Securities.

He said since BoU embarked on recognizing commercial banks, Stanbic has a record of having won six consecutive awards.

“Stanbic bank was the first bank to apply and get an electronic wallet. We take into consideration of its Stanbic Purchase Managers Index (PMI) when passing monetary policy. You have heard about the sector being abused for high-interest rates but when the CBR rate goes up, they do and when it goes down, they follow suit. For other banks, the interest rate remains up.” he said

“The 160 years is a great milestone but don’t get too comfortable because what got here won’t get you there. The things you have done to where you are today are not the same that will keep you there or take you where you want to be,” he said

He urged the company to continue innovating, avoid arrogance, bureaucracy and complacency to the company to remain on track for more successive years.  

Prof. Patrick Mangheni, the Board Chairman, of Stanbic Bank Uganda said, “As a senior corporate citizen of Africa, our challenge and responsibility as Standard Bank Group is to nurture the young businesses to grow into solid, thriving enterprises that will create jobs, pay taxes and drive Uganda or Africa’s growth. This should be our mission for the next 160 years to nurture the next generation of Africa’s businesses. I am happy to note that we have already started on this work in one way or another,”

He said Stanbic Bank on its own has a rich heritage dating back 116 years, right from 1906, when it used to be the National Bank of India. After several name changes, it rebranded to Grindlays Bank. It is in 1991 after the Standard Bank Group acquired Grindlays Bank and it was given a new name Stanbic Bank (Uganda) Limited.

“In February 2002, Standard bank group acquired 90% of the shareholding in Uganda Commercial Bank Limited, which was a government-owned bank. UCB was then merged with Stanbic Bank (Uganda) Limited and that is how it became Uganda’s largest commercial bank by assets and branch network,” he said

In April 2019, Stanbic Bank Uganda reorganized its corporate structure and created a Holding Company called Stanbic Uganda Holdings Limited and Stanbic Bank became its Subsidiary. Since then, Stanbic Uganda Holdings has grown and today has four more subsidiaries which include; Stanbic Properties, Stanbic Business Incubator, SBG Securities and FlyHub.

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