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NSSF Uganda acquires 2.44% stake in Equity Group

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NSSF Uganda has acquired 2.44% stake in Equity Group from Helios EB in a bid to continue providing a high return to members.

The transaction which is valued at UGX145Billion was approved by the Capital Markets Authority of Uganda, Capital Markets Authority of Kenya, and has been undertaken pursuant to the Capital Markets Act.

The Fund’s MD Mr, Richard Byarugaba throws more light on the investment decision. 

  1. Why did NSSF choose to invest Outside Uganda

The legible opportunities within the country are not enough to absorb NSSF’s investment’s potential. NSSF has invested heavily within the Ugandan Economy and currently holds 20% of traded securities listed on Uganda’s Securities Exchange.

Investing in other Equities markets within the East African region therefore provides an opportunity for diversification of the Fund’s investments but does not imply that the Fund will lose sight of any upcoming lucrative investment opportunities within Uganda.

  1. Why did NSSF choose to invest in Equity Group?

NSSF’s investment in Equity Group is in Line with the Fund’s strategic Plan and will enable the Fund improve its portfolio mix. Currently The Fund’s investment portfolio comprises of 10% Equities, 9% real estate and 81% fixed income, our overall aim is to increase our investments composition in Equities which on average provide a higher return in comparison to the other investments held fixed assets and real estate.

We also specifically selected Equity Group, because Equity Group is a fast growing financial institution within Africa and has registered exceptional performance over time. Since 2000 the Group’s pretax profit has grown at an annual average of 65%. The Group also has a proven track record of value creation for its investors and efficiency in utilization of its assets registering Returns on Equity (ROE) and Return on Assets (ROA) of 27.6% and 4.8% respectively.

Equity Group is also the 2nd Largest Bank in East Africa, with a good track record of successfully establishing subsidiaries across East, west and Central Africa.

We are also impressed by the Groups adherence to good corporate governance practices that have earned it recognition and several awards including Best Bank in East Africa during the ‘2014 Think Business Banking Awards’ and recognition as one of  Kenya’s Top Tax Payers.

  1. How much money has the Fund invested?

The Fund has invested UGX 145 billion.

  1. What is the projected return on this investment?

We cannot speculate the actual figures, but we believe this is a good investment for a long term investor like NSSF. This acquisition is in line with our aggressive yet, prudent investment approach that guarantees a competitive return to our members.

  1. Why the movement into equities?

As explained above, currently, 81% of our investments are in Fixed Income. Fixed income is safe, but if we want to give a more competitive return to our members, we must diversify more into equities, especially regional equities. Investment opportunities in the region such as Equity Group offer us an opportunity for diversification in order to achieve a desirable portfolio mix.

  1. Has the investment been approved by all relevant authorities?

Due procedure was followed in line with our Investment policy and yes we hereby confirm that the investment was approved by the Fund’s Management Investment Committee, the NSSF Board of Directors in consultation with the Minister of Finance, Planning and Economic Development. We also obtained legal advice from the Office of the Solicitor General.

  1. What measures are in place to protect the Fund’s investment in the long term?

This is a listed investment/security which provides for a straightforward exit: the stock is one of the most liquid stocks in East Africa. The company is cross listed in Uganda and Rwanda, and has adopted best practice with regard to Corporate Governance standards.

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Celebrity Gossip

The MultiChoice Talent Factory announces MTF Academy Class of 2019

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By Staff Writer

MultiChoice Africa is thrilled to announce that the final students for the MultiChoice Talent Factory (MTF) Academy Class of 2019 have been chosen. After a two-month long rigorous selection process across 13 African countries, 60 aspiring filmmakers representing East Africa, Southern Africa and West Africa will begin their 12-month training programme at the MTF Academies in Nairobi, Lusaka & Lagos in October this year.

The final candidates were selected after a rigorous interview and adjudication process by film and television experts, as well as regional Academy Directors Njoki Muhoho (East Africa), Berry Lwando (Southern Africa) and Femi Odugbemi (West Africa). Launched in May 2018 as part of MultiChoice Africa’s ground-breaking corporate shared value (CSV) initiative, the MTF Academy is a 12-month fully-funded training programme aimed at upskilling the next generation of passionate young film creatives. As the first touchpoint of the shared-value initiative, the academy’s curriculum was tailored alongside MultiChoice Africa partner institutions Pan-Atlantic University in Lekki, Kenyatta University in Nairobi, and the University of Zambia in Lusaka, which will respectively confer the course qualification upon completion of the academy programme.

In addition, The Henley Business School offers an orientation intervention to the students at the beginning and end of the 12-month programme. The appetite for training opportunities across Africa is massive within the creative film and TV industry, according to MultiChoice Talent Factory Director Cheryl Uys-Allie, which is exactly why the MTF Academy programme was launched.“As one of the few industry players that not only tell African stories but also invest in them, the need for a dynamic training programme such as the MTF Academy has been a long time coming. As MultiChoice Africa, we always ask ourselves: what’s next in the industry, and how can we better prepare for it? The MTF Academy was the answer to that question: By giving young Africans the chance to hone their television and film production skills,” says Uys-Allie.The Class of 2019 is hot on the heels of the inaugural Class of 2018, who are ready to graduate and have their first films screened on M-Net channels and Showmax.

This year’s class will reap the additional rewards of -new partnerships between the MTF Academy and Jasco Broadcast Solutions as well as Nihilent with its connection to Bollywood, as well as existing partnerships with the New York Film Academy College of Visual & Performing Arts (NYFA), DOLBY Institute and Universal Music Nigeria (UMG). As part of their curriculum, the 2019 candidates will also be exposed to the MTF Masterclasses, aimed at upskilling industry professionals and emerging creatives alike by offering exclusive access to practical, expert-led industry skills workshops across the 13 participating countries. Here’s to another year of investing directly in Africa’s dynamic storytelling spirit through the MTF Academy!

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Supa Sigiri’s Relieve Households In Uganda Of Annual Excessive Charcoal Expenses

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By Staff Writer

The Government of Uganda through the Uganda Clean Cooking Supply Chain Expansion Project, a Government of Uganda project, implemented by Private Sector Foundation Uganda (PSFU) is encouraging the public to use improved cook stoves dubbed ‘Supa Sigiris’ designed to use less charcoal, emit less smoke and cook faster than the ordinary cooking stoves found in most homes. Currently, Supa Sigiri’s can relieve their users of at least 360,000Ushs worth of annual charcoal expenses.

According to the 2016/2017 Uganda National Household Survey, almost every household in the country either uses charcoal or firewood for cooking, revealing that the dependency on firewood as a source of energy is straining the environment locally, regionally and globally. Ordinary Sigiri’s emit large amounts of black carbon which in the long run contribute to global warming. 

The collective benefits of using any of the Supa Sigiri types are;

  • Supa Sigiris use less charcoal,
  • Supa Sigiris cooking time is greatly reduced thus making them a faster means of meal preparation,
  • Supa Sigiris emit less smoke, and therefore reduce the risk of health issues household members may face in association with smoke fumes released within the home, 
  • Supa Sigiris also ensure a cleaner and safer environment generally in the home because of their unique design.

Speaking on the sidelines of the Capital FM Cook off with Supa Sigiri held last Friday, 23rd August 2019, Michael Oboth Sales Personnel for the Envirofit and Ecozoom cook stoves explained that the Envirofit and Ecozoom are a product of a World Bank research to combat climatic change which has become a global concern. ‘Both Envirofit and Ecozoom cook stoves save consumption rate of fuel by 58%, have a 78% faster cooking rate and 82% smoke reduction.’ Oboth added that one can cook with the Envirofit cook stove in the comfort of one’s choice:  on top of plastic tables, woollen carpets or tiles and they will not cause a fire outbreak.’

Biolite cook stove Representative Uganda Andrew Abacha said, ‘Biolite improved cook stoves can uniquely charge your phone or light up as you cook. It uses minimal amounts of firewood which in the long run addresses environmental, health and financial challenges. It also saves its users money as they need firewood worth only 500 Ushs to cook with every day.’

Charles Akamanya, Sales Representative and Project Development Officer for the Potential Energy cook stove said, ‘The Potential Energy cook stove is versatile, uses both charcoal and firewood, cooks at double the speed and comes with two provisions for cooking both at the top and bottom.’


Debbi Nansumba, Project Officer for the Smart Home Supa Sigiri Cookstove said that being part of the Uganda Clean Cooking Supply Chain Expansion Project has generally created awareness for the cook stoves and widened the market. She called upon the public to use Supa Sigiris cook stoves because of their benefits that make them unique from ordinary sigiris.

Mugwanya Ahmed the Sales Representative for Ugastove cook stoves said, ‘Ugastoves are durable, can work for 4 years, have less carbon emission, save energy and use less charcoal than ordinary sigiris.’

The Supa Sigiris come in 7 brands and are priced as follows:


Stove typePrice (UGX)
1Smart Home17,000

ILF Smart Home17,000
2Ugastove charcoal stove  45,000

Ugastove dual stove45,000
3Ecozoom Jiko Fresh125,000

Ecozoom Jiko Bora165,000
4Envirofit Super saver charcoal stove200,000

Envirofit Charcoal stove170,000
5Biolite Home stove 2180,000
Potential Energy: Berkley Darfur stove95,000
7BURN Jikokoa150,000

BURN Kunikoa150,000

Any of the 7 Supa Sigiri’s can be bought either by cash or loan (PSFU is reaching out to the various office SACCO’s in and around Kampala for the member credit facility option). Supa Sigiri’s sale points around Kampala and Wakiso can be accessed at the following locations: 

  • Shop No. 4 located at Wandegeya market building, Northern wing,
  • Johnrich supermarket Kabalagala entrance,
  • Bugolobi market entrance, 
  • Nakawa market, charcoal entrance shop No. 278, 
  • Seeta Trading Centre next to Stanbic bank ATM.
  • Capital Shoppers Ntinda and Nakawa Entrance
  • Kasubi Market opposite Kobil Petrol Station

Supa Sigiri’s can also be ordered via the phone on 0783813902; via SMS to 8008, Type Sigiri [leave space] your location and send; Email: info@supasigiri.co.ug; or by visiting the website www.supasigiri.co.ug. The Supa Sigiri’s are also available on the JumiaUG shop.

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Breeze Serenity Saloon and Spa, a perfect one stop serene place for all your body care

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By Staff Writer

Not so many places around town will have you get all your body services at a one stop. Serenity Saloon and Spa is one of those places that will not need you place to place, the Kimathi based Saloon and Spa has services ranging from makeup, weaving, braids, dreadlocks, massage, pedicure & manicure, facial, body scrub, hair treatment, tattoos and physiotherapy services.

From those that have been at the place, the customer care is excellent and in a conducive and mind relaxing environment that has FREE WIFI. Because we have been there to experience the ambiance, the place is convenient for all classes of people including the working class because it opens through all 24 hours.

While is remains a classy saloon and Spa the charges are relatively friendly. Breeze Serenity Saloon and Spa is located at Kimathi Avenue, Pan African House, next to Kampala Casino.

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