dfcu Bank, in partnership with NTV Uganda and Price Waterhouse Coopers (PwC) have awarded the winners of the second edition of the nationwide Savings and Investment campaign dubbed ‘Battle for Cash’. Aimed at building a savings and investments culture in Uganda, the ‘Battle for Cash’ challenge in form of a TV show engages various investment groups through saving and financial literacy workshops across the country and selects Clubs to take part in a competition.
For the past six (6) months, dfcu Bank’s carried out workshops focusing on; Why and how to save, where to invest money so it can grow, things to think about when thinking of investing and so much more. This was aimed at changing the perceptions on money, savings and investments. dfcu Bank received applications from over two hundred (200) Investment clubs across the country and these were independently vetted by PwC to select top 20 clubs that entered the TV competition.
The Battle for Cash challenge has been running on NTV every Sunday at 6:00pm. As part of the application process, clubs were tasked to develop a Business plan for an innovative investment project. At the start of the show all shortlisted 20 clubs had to defend their business plans to a panel of judges to make it to the next show. The clubs were trained in different aspects and assigned weekly tasks to demonstrate their ability to put into practice what they had been taught.
According to Pamela N. Bahumwire, Partner at PwC Uganda there is a lot to learn from the Challenge. “The teams that put themselves forward to participate in the challenge are courageous and we could a lot from them. We all have a lot of potential that we may never realise until we put it to test,” she added.
Speaking during the grand finale event, the dfcu Bank CEO, Juma Kisaame said: “Financial inclusion is high on dfcu Bank’s agenda. We believe that providing financial literacy is critical in driving financial inclusion in a sustainable way. There is a pressing need to raise domestic savings in our country and convert it into financing – loans – for infrastructure, housing and small business creation. As dfcu Bank, it gives us a sense of pride that we are playing our
role in the savings equation. We have a long history of promoting a Savings and Investment culture that dates as far back as 2007 when we introduced the Savings and Investment Clubs proposition to foster group savings. To date we supported the formation of over 20,000 Savings and Investment clubs across the country with a savings turnover of over UGX 600 billion. We believe there is a greater opportunity to raise more awareness and challenge ourselves about savings and investments,” he concluded.
Following last year’s inaugural campaign, dfcu registered an increment in Investment Clubs with over 6,000 new Clubs being set up since January 2018.
“The Battle for Cash competition has offered many lessons for us and we have been able to use these lessons to work towards the ultimate prize. This has been a great opportunity for us to get new ideas on how to handle different business challenges,” said a representative from Akuna Muchezo Development Club the winner of the Battle for Cash Season II finale.
Speaking at the Award ceremony, the Katikiro of Buganda Owekitibwa Charles Peter Mayiga, commended dfcu Bank on choosing Nairobi as a destination for the Study tour for the participating Clubs. “Many Kenyan companies now registered on the Stock Exchange started as Investment Clubs and are turning the economy around. If you stay the course, get advice from experts like PwC, on top of the exposure you have got, you may be the biggest businesses this continent has ever seen,” he added.
An amount totaling to UGX 100 million in prize money was set aside for the Investment Club challenge including regional draws carried out in different parts of the country. Additionally, one delegate from each of the 20 selected clubs that entered the competition is to be sponsored to attend a study tour in Nairobi in January 2019. This as the top seven (7) clubs will receive free advisory services for a period of one (1) year courtesy of PwC.
Africell Marketing boss quits
By Our Reporter
Africell Uganda Marketing boss, Mohammad Yahfoufi is leaving the telecom company after 3 years.
Yahfoufi joined Uganda’s third largest telecommunications company in June 2016 replacing Marvin Wiltshire Kagoro, who is currently the marketing and communications manager at Total Uganda.
Mohammad has been key in helping establish the digital marketing platforms of the telco. His impact has been enormous from setting up the company’s social media accounts, working to increase its following and establishing a successful influencer program.
In the three years he’s been with Africell, he also oversaw the telco’s flagship data marketing campaigns, namely: ‘Don’t be Cheated’, ‘SWIFT bundles’ and ‘Triple Data’.
Prior to joining Africell, the graduate of Marketing from Lebanese American University worked with multinational advertising company Leo Burnett, serving its unit in Dubai.
Also certified by Udacity for taking lessons in Google Adwords and Digital Marketing, Yahfoufi did his internship at Impact BBDO, another top advertising firm in the Middle East.
Mohammad is leaving the telecom industry for the betting world.
MTN Foundation, UMC Victoria Hospital partner to offer free corrective surgery to children
By Our Reporter
The MTN Foundation has inked a one-year partnership worth Ugx 184 million with UMC Victoria Hospital that will see the Bukoto based health facility provide free corrective surgery for over 80 children with special needs and/or disabilities in a bid to improve their quality of life.
Speaking at the MOU signing ceremony, the MTN Uganda Ag. CEO, Gordian Kyomukama reaffirmed the Foundation’s commitment towards improving the livelihood of youth by enabling those who have had an unfortunate start to life.
“Removing the physical obstacles to the youngsters’ growth and development through corrective surgery will enable them to compete favourably and achieve their full potential in life within their respective communities. These are the success stories that we as a brand take pride in,” he said.
“In addition to the partnerships that we have forged with the Ministry of Health and over 15 health centres refurbished and re-equipped countrywide under our Access to Health Initiative (AHI), today we reiterate our desire to contribute to the wellbeing of our customers and Ugandans at large. It is commonly said that a healthy nation is a wealthy nation. We are pleased to play our part in this process as the MTN Foundation.” He added.
The Chief Executive Officer and Managing Director of UMC Victoria Hospital, Dr. Anurag Shah lauded the MTN foundation for coming to the rescue of the disadvantaged children.
“The lives of the children will be changed for the better, forever – thanks to this partnership. UMC Victoria Hospitals bring world class medical care, expertise, professionalism and requisite equipment and facilities to the service of Ugandans in need. It will be our absolute pleasure to transform the lives of the beneficiaries by enabling them to regain their mobility among other advantages. We are delighted to partner with MTN Foundation to help them realise their dreams,” said Dr. Shah.
UMC Victoria Hospital is an integrated healthcare delivery provider providing high quality medical and nursing services across a wide range of specialties. Bench-marked to international quality standards, having state-of-art laboratory and radiology diagnostic services, modular operating theatres, in-house pharmacy, the hospital is well equipped to provide convenient, patient focused, quality centric efficient services.
The one-year partnership between the MTN Foundation and UMC Victoria Hospital is supported under the key focus areas for the Foundation which is health. It will also see UMC Hospital engage MTN staff in its community outreaches and medical camps countrywide in weeks ahead and a visit to the hospital located in Bukoto, on the outskirts of the city.
The Foundation recently inked a similar partnership with Comprehensive Rehabilitation Services for People with Disability in Uganda (CoRSU), a local NGO and hospital located in Kisubi to provide corrective surgery to eighty youth and children selected from all over Uganda specifically areas affected by conflict.
The MTN Uganda Foundation is a non-profit entity that was inaugurated in July 2007 as a vehicle through which MTN Uganda implements its corporate social investments (CSI). The main objective of the foundation is to improve the quality of life in communities across the country by supporting and implementing sustainable projects in Education, Health and other National Priorities.
Coca-Cola hands over Ramadan goodies to Muslim Community
By Our Reporter
Beverages giant Coca-Cola has handed over essential items to the House of Zakaat organisation in a bid to recognize and celebrate the Holy month of Ramadhan with the Ugandan Muslim community.
House of Zakaat is a charity organization that collects zakat (alms) and distributes them to the people in need.
In partnership with SWT rice and Crystal oil, Coca-Cola handed over 250 cartons of soda and mineral water, 100 packs of rice and 240 bottles of cooking oil at Coca-Cola’s bottling plant in Namanve.
Commenting about this initiative, Mr. Ivan Oboth congratulated the Ugandan Muslim Community upon reaching another Holy Month of Ramadhan.
“As a brand that unites Ugandans across different religions, cultures and socio-economic divides, we are proud to support the Muslim community with items that will assist them in preparing their Iftar meals. Apart from producing these products, it is our responsibility to ensure that they are closer to our consumers especially during the important occasions in their lives. We realize that during this season, muslims spend time together worshipping and sharing food and we are proud to add our package to this celebration,” he commented.
Deputy Supreme Mufti and CEO House of Zakaat Shiek Mahmood Kibaate thanked Coca-Cola for having the spirit of sharing, especially during this holy month.
“At this time in Ramadhan is when we need to reach out to the underprivileged the most. I thank Coca-Cola for entrusting us with the responsibility of distributing these items to the communities. We ask the Almighty Allah to reward Coca-Cola abundantly and request them to continue with this program,” he noted.
Last year, Coca-Cola visited over 100 mosques countrywide offering them foodstuffs and soft drinks to assist in breaking their fast.
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