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NSSF to hold first ever Investment and Wealth Management symposium

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NSSF Managing Director Richard Byarugaba

NSSF Managing Director Richard Byarugaba addresses media.

By Our Reporter

NSSF will hold the first ever Investment and Wealth Management symposium on June 10, 2019 that will bring together financial advisory and investment experts from within the East African region to promote professional financial and investment decision making.

NSSF Managing Director Richard Byarugaba said that for NSSF members to sustainably benefit from their savings, they must plan and seek expert advice, lest they lose all their life savings because of ill-advised and poor decision-making.

“In 2018, we conducted a survey among NSSF beneficiaries to compare their quality of life on retirement before and after receiving NSSF benefits. 53% said that their benefits sustained them for less than a year and by the end of the first year, 98% had no cash left. We know that the story would be different if they had planned well and had sought professional advice,” he said.

The symposium, which will be attended by over 1,000 people at the Kampala Serena Hotel, will also equip participants with knowledge to enable them plan for their retirement better by managing their personal finances well, planning, and making sound and informed choices about financial products and investment.

Participants will also be exposed to tailor made business solutions available at various providers such as Stanbic Bank, Stanlib Investments, Xeno Investments, ICEA Assurance, Housing Finance Bank, National Housing and Construction Limited among others.

Byarugaba announced that the Fund has lined up a guest speaker who will talk about “Wealth Creation & Preservation for Generations”. Other topics of discussion include “How to create wealth through Capital Markets” and “Real Estate for Wealth Creation & Preservation”.

“This symposium is only a part of our Financial Literacy Programme at the Fund. Through this initiative, we want to offer professional financial and investment advice to our members to enable them make better decisions when they get their retirement funds.”

“Financial literacy is an area on which the Fund will focus because unfortunately, not many Ugandans have the knowledge and skills to make informed financial decisions. We have specifically segmented our membership, from those who have started saving with us to those who are about to exit to enable us provide advice that is relevant and useful,” Byarugaba added.

According to the findings of the Fund’s survey, most retirees invest their pension in agriculture, business, land, rentals, cows, further education, school fees, medical bills or fixed deposits to earn an interest.

“Making better investment decisions will ensure retirees do not end up being destitute or dependent after receiving their pension. Whereas many of our members invested their money gainfully in business, there is a general lack of knowledge on business management and opportunities that can generate earnings to cater for their cash flow needs,” Byarugaba concluded.

The event speakers have been drawn from Bank of Uganda, Capital Markets Authority, Stanbic Bank, National Housing and Construction Company Limited, Housing Finance Bank and NSSF.

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Local Business

Nsenene Ku Beat Event slated for November

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By Staff Writer

Ruspolia differens aka katydids, locally known as ‘Nsenene’ is a Uganda delicacy that’s mostly consumed in the months of April to May and November to December.

The lastest is that Striddle Events Africa, an events company has come up with several recipes such as Samosa Nsenene, Burger Nsenene, Pancake Nsenene, Bread Nsenene and Chapati Nsenene which will be exclusively unleashed for the ardent consumers to enjoy whilst dancing to soothing musical beats by our local talents.

Speaking to the press, Sebulime Peter alias Demo Riley the CEO Nsenene Ku Beat, asserted that they were supposed to have this event in May this year but decided to postpone it to November so they can prepare well enough to give people a better experience.

He added that the idea is to promote food tourism and this event thus presents a unique opportunity for Uganda’s vendors, consumers, corporate companies and tourism institutions to celebrate the country’s rich and original snack Nsenene and music culture.

There will be activities like cooking competitions, games, live video mixing, live band, celebrity cookouts and artists performance.

The event which will happen on Sunday 24th November at HillTop Garden, Naguru and gates will be opened at 10am till late. The cover charge is only UGX 10k and children enter for free.

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Companies

StarTimes wins “Africa Best Content App” at Digital Impact Awards Africa 2019

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By Reporter

The grand finale of the 6th annual Digital Impact Awards Africa 2019 (DIAA) was on 20th September 2019 at Mestil Hotel in Kampala, Uganda. Under the theme “Include Everyone”, The Digital Impact Awards Africa is a platform that promotes Digital inclusion, financial inclusion and cyber security.

DIAA is Africa’s most important gathering of C-Level Executives, and Senior Digital and IT executives. The event was a climax of the Include Everyone- Digital and Financial Inclusion Summit which explores the strategic trends and technologies that are shaping the future of Digital, IT and business. The DIAA seek to recognize, celebrate and appreciate different individuals and organizations that are spearheading the use of digital mediums to better serve their communities. The awards had 16 Uganda categories and 6 Continental categories. There was a jury/research panel assessment and public survey/vote to determine eventual winners. StarTimes was nominated in two categories; Africa Best Content App (Africa), and Disruptive Innovation (Uganda).In the ‘Africa Best Content App’ category, the StarTimes ON App was up against Kwese iflix, DSTV Now and Netflix. StarTimes won the accolade!While in the ‘Disruptive Innovation’ category, the StarTimes ON App was running against MTN MoMoCard, SafeBoda Pairing, Citimasta App, Standard Chartered Bank, and YO TV who won this award. The StarTimes team was very happy to receive the news that they were the winner of the Africa Best Content App-StarTimes ON at the DIAA 2019.

CEO, Mr Franklin Wang (Left), Miss Cleopatra Koheirwe (Centre) and Marketing & Brand Director- Mr Lule Isma (Right)

StarTimes CEO, Mr Franklin Wang said: “It was a tough competition! We were nominated alongside other equally successful companies so it is a great honor winning this award. We thank our customers for their support and DIAA for the recognition.” StarTimes had a lot more reason to celebrate because as they were winning at the DIAA 2019, they were also winning at the 10th annual People’s Choice Quality Awards 2019 that were being held at Hotel Africana. These awards recognize excellence in service, and quality in product. The Awards were given based on a survey done by Muyz Plus Advertising International between January and April 2019 in 5 regions in Uganda: Western, Northern, Central, Eastern, and Kampala. The survey was done in accordance with the Uganda Bureau of Statistics population census geographical data. The People’s Choice Quality Awards recognized more than 20 brands for being exceptionally good at what they do. StarTimes was announced as the Best Pay TV in Uganda, and was awarded by the State Minister for Trade, Hon. Michael Werikhe Kafabusa who was the guest of honor.Mr Franklin Wang, the CEO of StarTimes said, “We are so honored to receive this award. Our team puts in the work to make sure the public gets great service.

We thank our customers for their support because without them, we would not be here. Thank you People’s Choice Awards for acknowledging and appreciating our services.”The StarTimes ON Mobile AppStarTimes ON is StarTimes’ official App providing video streaming service of 70+ LIVE TV channels, exclusive LIVE football matches (StarTimes Uganda Premier League (SUPL), UEFA Europa League, Bundesliga, French Ligue1, and online videos, catch up, short videos, plus TV guide of all 400+ channels on StarTimes’ digital TV platform. The StarTimes Mobile Application which can be downloaded for free on the Google Play Store and Apple App store offers viewers over 70 channels.StarTimesStarTimes is the leading digital TV operator in Africa, serving nearly 20 million users with a signal covering the whole continent and a massive distribution network of 200 brand halls, 3,000 convenience stores and 5,000 distributors. StarTimes owns a featured content platform, with 480 authorized channels consisting of news, movies, series, sports, entertainment, children’s programs, etc. The company’s vision is “To ensure that every African family can access, afford, watch and share the beauty of digital TV”. StarTimes achieves this by combining satellite and terrestrial DTV systems as well as OTT services to provide an open and secure digital wireless platform. The company provides a robust signal transmission service for public and private broadcasters, offers consumers outstanding Pay-TV programs, mobile multimedia, wireless Internet connectivity and convenient online services.

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Local Business

Airtel named Uganda’s top tax contributor

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By Our Reporter

Airtel Uganda has been awarded Uganda’s Largest Tax Payer and recognised for their compliance in remitting taxes to Uganda Revenue Authority (URA).

The announcement was made during the Uganda Revenue Authority 14th Taxpayers Appreciation Awards – 2019 held in Kampala on Friday.

Airtel Uganda paid Shs136 billion in the financial year 2018/19 winning the Excel Award for the year.

“Airtel has contributed over Shs136 billion in the financial year 2018-19 making it the biggest contributor of income tax in the last financial year,” a statement from Uganda Revenue Authority read in part.

Handing over the award, the Minister of Finance Hon. Matia Kasaijja congratulated Airtel upon the achievement and lauded the company for their contribution towards the development of Uganda through tax.

Mr. V.G. Somasekhar, the Managing Director of Airtel Uganda, thanked Uganda Revenue Authority for recognizing their contribution to the company’s GDP and the work they are doing to remain complaint. He also thanked Uganda Communication Commission, Ministry of Information Communication and Technology and the Government of Uganda for the support rendered to Airtel.

“It is an honor for Airtel to be recognized as the largest tax payer in Uganda. We are thankful to our customers and partners who have made Airtel their network of choice,” he noted.

“We believe leadership is a responsibility – one that we have happily taken on and this recognition is yet another milestone and an affirmation that Uganda has noticed. We remain committed to the leadership of the telecommunications sector and compliance is an integral aspect of that commitment,” he added.

The award comes on the heels of the company’s massive investment in innovation, network and infrastructural expansion.



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