Standard Chartered mulls sale of wealth, retail operations in Uganda
November 28, 2024 8:36 am
Standard Chartered said Wednesday it is exploring a potential divestment of its wealth and retail banking operations in Uganda, Zambia and Botswana as part of a strategic refocus on its affluent client base.
The bank’s pending exit from the two sectors, the bank said Wednesday, would make it refocus and strengthen its business model in corporate and institutional banking. Standard Chartered has been operating in Uganda for more than 112 years, making it the oldest commercial bank in the country. Read more
Under-confident Mbappe needs time and love, says Real Madrid boss
November 28, 2024 6:34 am
BY REUTERS
Striker Kylian Mbappe had another subdued and disappointing performance for Real Madrid on Wednesday, failing to seriously trouble Liverpool’s defence and missing a penalty in their 2-0 Champions League defeat at Anfield.
The Frenchman has had a challenging start to life at Real after joining from Paris St Germain in June, with just one goal in five Champions League games for the Spanish club.
The World Cup winning forward has scored one goal in his last six games in all competitions but manager Carlo Ancelotti defended him after Wednesday’s match as an “extraordinary” player who just needed support and patience to thrive in Spain.
“It’s a difficult moment for him, we’ve got to support him and give him our love, he’ll soon be fine,” Ancelotti said.
“It could be a lack of confidence maybe. Sometimes you have moments when things aren’t quite working out for you. But you get through these moments. People miss penalties, it happens a lot. You can’t put too much grief on him for that.
“He works hard, he’s got to keep working hard and fighting. You get through these moments. Things just aren’t running for him at the moment. We’ve got be patient. He’s an extraordinary player.”
Ancelotti said Liverpool deserved to win the game.
“I think that to be totally honest with you, it was a fair result,” he said. “They have a really good dynamic at the moment, they are switched on, they play with a high intensity.”
Even though Real are 24th in the 36-team league, and in danger of missing out on the knockout phase, he was confident their form would pick up sufficiently.
“I think this game today wasn’t a decisive game,” he said. “We’ll be there, we’ll be competing in the knockout phase, like in previous years.”
Real midfielder Jude Bellingham echoed his boss’ remarks that Liverpool outplayed them.
“They were more up for it than us which is very disappointing. It is a bad result against the best-performing team in Europe,” he said.
“We are disappointed at how we have performed and it is important that we win the next three games and give ourselves a chance to go through.”
Bellingham was also supportive of Mbappe.
“He is a wonderful player but the pressure on him because of how good he is is huge. The penalty is not why we lost the game. They performed better than us. I know that he will produce many more moments that will be huge for this club,” he said.
Minister orders probe into Sironko engineering department
November 27, 2024 5:11 pm
State Minister for Economic Monitoring, Beatrice Akello on Wednesday directed the State House Anti-Corruption Unit to investigate the Sironko District Engineering Department. This follows reports that six roads, budgeted for in the 2023-2024 financial year, remained incomplete despite the government allocating Shs1 billion for their construction.
According to the Minister, other roads in the district are also in poor condition, with some abandoned. She made these observations during her ongoing monitoring exercise in the Bugisu and Bukedi sub-regions to assess the performance of various government-funded programs.
“We realized that the work progress is very slow. On the money for the last financial year, only 50% has been absorbed by the district engineer, and most of the works have not yet been completed,” Ms Akello told KFM.
Sironko District Chairperson, David Giruuli expressed optimism that the Minister’s visit would expedite the completion of the unfinished road projects.
Among vows to unseat Kadaga
November 27, 2024 3:45 pm
The Speaker of Parliament Anita Among has declared her intentions to unseat Rebecca Kadaga as the National Resistance Movement (NRM) party National Vice Chairperson (Female).
Ms. Among made the revelation on Wednesday during a meeting with the executive delegation of the Uganda Urban Council Speakers Association at Parliament.
“I’m not standing for Eastern region, I’m going to stand for the National Vice Chairperson, female,” Among said on Wednesday.
While the group had encouraged her to contest for the position of NRM Vice Chairperson for the Eastern Region, the Speaker clarified that her interest lies in vying for the higher role of National Vice Chairperson (Female).
The Association represented by its executive had gone to petition the Speaker’s office to address welfare, logistical and financial challenges that hinder the effective execution of their duties.
Speaker Among seeks answers from govt on Besigye abduction
November 27, 2024 3:18 pm
Speaker of Parliament Anita Among has instructed government to table a comprehensive statement detailing the circumstances under which Opposition leader Kizza Besigye and his co-accused Obeid Lutale Kamulegeya were picked up from Nairobi, Kenya, and later arraigned in the General Court Martial last week.
“I have asked the Minister for Internal Affairs to bring the report on up to Friday. So can we have the statement on Tuesday on the floor,” Speaker Among said. Read more
Karamoja iron sheets: Court demands minister Lugoloobi's explanation
November 27, 2024 3:00 pm
The Anti-Corruption Court has ordered Minister for Economic Monitoring, Amos Lugoloobi, to present his side of the story regarding the Karamoja iron sheets scandal. Lugoloobi is accused of misappropriating iron sheets intended for vulnerable communities in Karamoja.
Justice Jane Kajuugo made the ruling on Wednesday, noting that the prosecution had presented sufficient evidence to support the charges. The court adjourned the case until January 15, 2025, when the State Minister is expected to begin his defense.
The Prosecution alleges that Lugoloobi received 700 iron sheets marked “Office of the Prime Minister,” which were allegedly diverted for personal use. These included roofing a goat house on his farm and donating them to a school in Kayunga District.
Lugoloobi’s lawyers argued that the Prosecution had not provided sufficient evidence to necessitate a defense. They claimed that the iron sheets’ designation was unclear and that witnesses failed to link Lugoloobi to the scene of the alleged crime.
However, the prosecution maintained that Lugoloobi’s direct presence was not essential for a conviction, as evidence indicated that the iron sheets were misused.
