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Zanzibar Social Security Fund

PSPF

ssra

GEPF

Nssf_New

Mobile Taarifa

LAPF

WCF

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United Republic Pension Schemes

Friday, February 28, 2014

Mobile call tariffs to fall as East African states scrap levies


Safaricom has said it will devise ways of tapping into the popularity of the WhatsApp messaging service to make money. Photo/AFP

Safaricom has said it will devise ways of tapping into the popularity of the WhatsApp messaging service to make money. Photo/AFP 
 
By OKUTTAH MARK


Call rates to Uganda, Rwanda and South Sudan are set to significantly reduce after East Africa states signed an agreement to repeal taxes charged on calls from the region.

Agency warns land buying saccos on public spaces

The National Land Commission chairman Muhammad Swazuri. FILE
The National Land Commission chairman Muhammad Swazuri. FILE 
By NEVILLE OTUKI
In Summary
  • The National Land Commission has given the land-buying societies three weeks to submit their scheme plans for the sub-divided land in a bid to determine their compliance with the law.

Land owners who acquired plots through co-operative societies risk losing the parcels in a fresh audit meant to reclaim public utility spaces.

Rivals eye EU flower market as pact delays

Kenyan growers have traditionally beaten their rivals to the European Union market. FILE
Kenyan growers have traditionally beaten their rivals to the European Union market. FILE 
By George Omondi



Flower growers face a critical test as key rivals begin to show interest in Kenya’s traditional markets ahead of plans by European states to introduce taxes on the produce.

JTL Masters prepares golfers for the Kenya Open

Kopan Timbe, the captain of the Professional Golfers of Kenya, reacts to a missed putt on the 18th green during a past Jamii Telkom Masters at the Karen Country. FILE

Kopan Timbe, the captain of the Professional Golfers of Kenya, reacts to a missed putt on the 18th green during a past Jamii Telkom Masters at the Karen Country. FILE 
By CHARLES GACHERU


Today, Kenyan golf professionals will be playing the fourth round of the Jamii Telkom Masters, a four-round, four-day championship that has traditionally been played the week before the Kenya Open Golf Championship.

Kenyan handicraft sector thrives on Jua Kali energy

 Craft women and men during Craft Afrika seminar last week at Shalom House in Nairobi.
Craft women and men during Craft Afrika seminar last week at Shalom House in Nairobi 
By MARGARETTA WA GACHERU, margacheru@gmail.com

Indigenous Kenyans have been involved in the creation of handicraft since the early 20th century when the Kamba people began carving giraffes, lions and hippos for an incipient tourist market.
A century later, the craft industry is one of the most vibrant, dynamic and burgeoning arena of the creative economy.

Being different is fine but only special talent leaves a mark


  US President Barack Obama speaks at St Paul, Minnesota, this week. He embodies his message with his entire being in that unrivalled dazzling manner. AFP

US President Barack Obama speaks at St Paul, Minnesota, this week. He embodies his message with his entire being in that unrivalled dazzling manner. AFP 
By Seraphine Ruligirwa-Kamara
In Summary
  • Professionals lead because of doing little things greatly everyday.

I want you to develop a completely different level of evaluating yourself. Now I need you to work with me here. I am going to take my flashlight and focus only on the areas that make you more valuable than any other person in your field.


Farmers want dairy board to set prices of raw milk


A worker weighs milk at a selling centre. Farmers want the Kenya Dairy Board to regulate raw milk prices. FILE

A worker weighs milk at a selling centre. Farmers want the Kenya Dairy Board to regulate raw milk prices. FILE 
By MUCHEMI WACHIRA, mwachira@ke.nationmedia.com
In Summary
  • Move follows an announcement by Brookside Dairy Limited that it will pay suppliers Sh27 per kilogramme (kg) of milk from Sh32 per kg, starting March 1.

Dairy farmers in Nakuru want the industry regulator to set prices at which processors can buy raw milk to avoid exploitation.

Huawei picks new chief executive to head

Dean Yu, new CEO for Huawei Kenya. FILE
Dean Yu, new CEO for Huawei Kenya. FILE 
By DAVID HERBLING

In Summary
  • Mr Dean will be tasked with crafting strategies and overseeing operations in Kenya to win a bigger share of the mobile devices market dominated by Nokia and Samsung.
  • He was previously vice CEO of Huawei South Africa and takes over from Wind Li who has been head of the Nairobi office since 2012.
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IT firm Huawei has named Dean Yu as its new chief executive for Kenya, keeping with the tradition of appointing Chinese bosses.
Mr Dean will be tasked with crafting strategies and overseeing operations in Kenya to win a bigger share of the mobile devices market dominated by Nokia and Samsung.
Mr Dean was previously vice CEO of Huawei South Africa and takes over from Wind Li who has been head of the Nairobi office since 2012.


Mr Wind succeeded Herman He who served as CEO for five years.

“Kenya’s ICT industry is set to experience exponential growth. It’s therefore an exciting time for me to spearhead our business efforts here for greater value,” said Mr Dean while taking office Thursday.
“It’s our belief that our continuous innovative, customised, affordable and value-added products and solutions will impact the development agenda of this country by powering and accelerating economic growth.”

The changes at Huawei’s corner office come at a time when mobile phone makers and network vendors are engaged in battles to win market share and clinch big ticket IT infrastructure projects.
The Shenzhen-based firm said it is banking on Mr Dean’s more than 12 years experience in the telecoms industry to drive growth.

Huawei in October last year launched the Ascend P6, its flagship Android powered high-end smartphone to take on Samsung, LG, Nokia and Blackberry.

Safaricom jointly awarded Huawei and Ericsson the contract to build its Sh10 billion 2,400 kilometre metro fibre optic cable. Huawei set its offices in Kenya in 1998 and employs about 500 employees locally.

Banks lose out as M-Pesa goes global with MoneyGram deal

 
   Former Safaricom CEO Michael Joseph and the current chief Bob Collymore. Mr Joseph says the huge demand for sending money home from abroad has led to the deal with MoneyGram. FILE
Former Safaricom CEO Michael Joseph and the current chief Bob Collymore. Mr Joseph says the huge demand for sending money home from abroad has led to the deal with MoneyGram. FILE 
By DAVID HERBLING, hdavid@ke.nationmedia.com

Posted  Thursday, February 27  2014 at  18:44
In Summary
  • The deal will allow users of MoneyGram in about 200 countries to send money directly to M-Pesa subscribers’ mobile phones.
  • The new deal comes just weeks after it emerged that Safaricom was on the verge of signing a similar agreement with UK-based online payments and cash remittances company Skrill, which has capacity to handle transactions and money transfers in 41 currencies.
  • Safaricom is riding on M-Pesa’s wide reach of its nearly 18 million customers to win deals with the global firms.

Safaricom’s push to take its mobile money transfer business global has received another boost with the signing of a deal that will see users of MoneyGram send cash directly to M-Pesa customers from any part of the world.

The deal, signed by UK telecommunications company Vodafone — which is Safaricom’s majority shareholder — will allow users of MoneyGram in about 200 countries to send money directly to M-Pesa subscribers’ mobile phones.

“There is huge demand for sending funds back (home) to family and friends,” said Michael Joseph, former Safaricom CEO and currently managing director in charge of mobile money at Vodafone.
The new deal comes just weeks after it emerged that Safaricom was on the verge of signing a similar agreement with UK-based online payments and cash remittances company Skrill, which has capacity to handle transactions and money transfers in 41 currencies.

The partnerships will see Safaricom tighten its grip on diaspora remittances, which have been a main source of commissions income for commercial banks.

Diaspora remittances rose by 10.2 per cent last year to Sh111 billion ($1.3 billion), attracting the interest of money transfer companies targeting commission fees from the transfers.

Remittances from Kenyans working abroad are the fourth-largest source of foreign exchange after tea, horticulture and tourism. The partnership between Vodafone and M-Pesa is set to be launched by June.

Safaricom is riding on M-Pesa’s wide reach of its nearly 18 million customers to win deals with the global firms.

The deal also mirrors another signed between Safaricom and international money transfer network Western Union in March 2011.

The World Bank estimates that formal channels such as Western Union, MoneyGram and Xpress Money handle about two thirds or 64 per cent of remittances to Africa.
About 17 per cent of the remittances are channelled through commercial banks, while foreign exchange bureaus, postal money orders and personal deliveries were used to send the remaining portion.

M-Pesa’s earlier plans to go global were delayed by concerns over stringent international regulations against money laundering and financing of terrorism.

“This agreement furthers our goal of joining with fast and reliable mobile wallets so consumers may send money for life’s essentials anywhere and any way they want, simply and conveniently,” said Alex Hoffmann, senior vice president of global product management and emerging channels at MoneyGram.

Vodafone and MoneyGram did not provide details on whether there will be extra charges to send money to M-Pesa compared to ordinary transfer charges for cash channeled through bank agents.

Banks lose out as M-Pesa goes global with MoneyGram deal



   Former Safaricom CEO Michael Joseph and the current chief Bob Collymore. Mr Joseph says the huge demand for sending money home from abroad has led to the deal with MoneyGram. FILE
Former Safaricom CEO Michael Joseph and the current chief Bob Collymore. Mr Joseph says the huge demand for sending money home from abroad has led to the deal with MoneyGram. FILE 
By DAVID HERBLING, hdavid@ke.nationmedia.com
In Summary
  • The deal will allow users of MoneyGram in about 200 countries to send money directly to M-Pesa subscribers’ mobile phones.
  • The new deal comes just weeks after it emerged that Safaricom was on the verge of signing a similar agreement with UK-based online payments and cash remittances company Skrill, which has capacity to handle transactions and money transfers in 41 currencies.
  • Safaricom is riding on M-Pesa’s wide reach of its nearly 18 million customers to win deals with the global firms.

Mumias share up on Comesa reprieve news


A tractor transports sugarcane to a factory in Kisumu County. FILE

A tractor transports sugarcane to a factory in Kisumu County. FILE 
By CHARLES MWANIKI
  


Mumias Sugar’s share enjoyed a day of near maximum gains Thursday as investors reacted positively to news of a one-year extension to Comesa sugar safeguards.

The counter was the most heavily traded Thursday at the NSE, with 5.15 million shares traded and a closing price of Sh3.55, mainly on local investor buying.

The sugar miller has enjoyed positive investor sentiments in the past one week since announcing a smaller loss of Sh73.4 million for the six months to December 2013.

This was a 94 per cent reduction from a loss of Sh1.1 billion recorded over a similar period in 2012, which came as a result of high costs and reduced sugar sales.

“The company needs to keep addressing its operating costs, which are higher compared to other companies in the Comesa region, as well as deal with cane poaching issues,” said old Mutual Securities research analyst Eric Munywoki.

The miller said on Monday it has stopped all capital expenditure plans, and is now looking for a strategic investor to partner on the Tarda irrigation project.
The other top gainer in the market Thursday was Car & General, which started reversing the share price slide that came after the share went ex-bonus and ex-dividend from February 19. The counter gained 9.7 per cent Thursday to close at Sh34, although on thin volumes.

Treasury bill rate increases slightly

 
The Central Bank of Kenya. Photo/FILE
The Central Bank of Kenya. Photo/FILE 
By John Gachiri
In Summary
  • Analysts said that they expect liquidity in the market to tighten as companies begin to file their annual returns to the Kenya Revenue Authority.

Rates on government paper increased slightly due to liquidity in the market tightening ahead of the tax return season.

US energy firm records revenue growth from Olkaria plant


 
Geothermal and recovered energy firm Ormat Technologies increased revenues last year on the back of electricity sales from three sites including the Olkaria III power plant in Kenya. FILE
Geothermal and recovered energy firm Ormat Technologies increased revenues last year on the back of electricity sales from three sites including the Olkaria III power plant in Kenya. FILE  XINHUA
By John Gachiri
In Summary
  • Ormat, which is listed on the New York Stock Exchange, did not give a breakdown of how much its Kenyan operations earned. Historically, however, Olkaria has been known to account for close to 10 per cent of the group’s revenues.
  • Ormat sells electricity produced in Olkaria to Kenya Power and has signed a 20 year power purchasing agreement (PPP) that will expire in 2029.
    It operates locally through OrPower 4 Inc, a wholly-owned subsidiary.

Kenya’s trade deficit grows on reduced exports


 
Cut flower exports dropped by 13.9 per cent in 2013. Photo/FILE
Cut flower exports dropped by 13.9 per cent in 2013. Photo/FILE  NATION MEDIA GROUP
By CHARLES MWANIKI
In Summary
  • Data from the Kenya National Bureau of Statistics (KNBS) shows that in 2013 total exports declined by 2.6 per cent to stand at Sh504.3 billion compared to Sh517.8 billion in 2012.


Kenya’s trade deficit grew by Sh45.5 billion to Sh903 billion in 2013 compared to a year earlier, driven by lower earnings from key exports such as horticulture and an increase in capital goods import costs.

Former PS says Kimunya halted study on rail plan


Former Transport minister Amos Kimunya. FILE
Former Transport minister Amos Kimunya. FILE 
By EDWIN MUTAI, emutai@ke.nationmedia.com
In Summary
  • Former Transport PS Cyrus Njiru said that Mr Kimunya instructed him to write to the then KRC managing director Nduva Muli to stop the study.

Former Transport minister Amos Kimunya halted feasibility study for the standard gauge railway by Kenya Railways Corporation (KRC), a former top State official has said.
Former Transport PS Cyrus Njiru said that Mr Kimunya instructed him to write to the then KRC managing director Nduva Muli to stop the study.

A city that keeps fit, stays healthy

 People walking along Ring Road in Kileleshwa, Nairobi. Photo/SALATON NJAU

People walking along Ring Road in Kileleshwa, Nairobi. Photo/SALATON NJAU 
By EVELYN SITUMA, esituma@ke.nationmedia.com
In Summary
  • Many people, young and old, are keeping fit in their neighbourhoods where there are pavements for pedestrians and cyclists.

Every Saturday evening, Pauline Wangari and her friend Lucy drive off to Jaffrey’s Sports Club on James Gichuru Road for their fitness routine.

“We drive to Jaffrey’s on weekends in the late afternoon and do several laps around the pitch sometimes walking briskly, other times jogging,” says Pauline. The two have kept this for two months although Pauline says for her it has to be a mix of exercise routines.

“I get bored fast so I do different things to remain motivated,” she explains. Last year, Pauline started walking and jogging around her neighbourhood in Kilimani, a habit which she has kept todate. She also goes swimming, to the gym and does yoga to keep it interesting.

Ever since the link roads on Ring Road and Kileleshwa were commissioned, Pauline says walking on the pathways is sheer joy. She loves the relaxation she gets from walking without the fear of falling in an open manhole or twisting her ankle on uneven surfaces.

“I walk along the newly opened Kilimani Ring Road to the roundabaout that connects it to Kileleshwa, sometimes I do Lenana upto Dennis Pritt Road or Dennis Pritt all the way to James Gichuru Road. This is a form of fitness I enjoy as I can listen to my music and clear my head without worrying about injury or accident from tyhe passing cars,” she says.

Pauline is not alone. Phillip Horrobin, a 93-year-old resident of Lavington also enjoys walking on these new roads around his home. “At my age, I see no reason in living unless I am healthy and fit,” he says as he walks up the new Ring Road with his walking stick.

He walks daily for just under an hour. But also adds that he maintains a fitness lifestyle at home by working on his garden. In addition, Phillip plays golf once a week.
Phillip says he enjoys walking on the new roads especially because they are clean and the demarcations conducive for those who want to exercise.

 
This is the model UNEP is currently backing in its road sharing campaign. According the environment agency of the UN, construction of roads suitable for motorised transport, walking, cycling and skating is necessary and ought to be encouraged.

Ring Road in Nairobi constructed in partnership with the government of Japan is the first such infrastructure. The Aga Khan Foundation also had plans of reconstructing the 5th Avenue on Limuru Road to accommodate handcarts, pedestrians, cyclists and cars. Its however not clear whether or not the project is still on course.

Who’s- who
Walking, cycling and jogging is quickly becoming a favoured fitness routine for young and old Kenyans - especially those living in the city. 
Apart from the motivation to exercise which comes with good infrastructure, individuals are also spending less to keep fit.

Most people who walk or jog say they only have to pay for their sporting gear while saving on money that would have otherwise been spent on gym subscriptions which they, more often than not, do not utilise. Another advantage is the social networking side of this kind of exercise.
Fitness enthusiasts, who meet often on these roads eventually become familiar with each other, get a chance to chat thereby developing social or business relationships

Unpredictable stock prices and how our irrationality makes us prisoners of trade

A woman monitors trade at the Nairobi Securities Exchange. Lack of rational thinking makes prediction of a stock market almost impossible. FILE
A woman monitors trade at the Nairobi Securities Exchange. Lack of rational thinking makes prediction of a stock market almost impossible. FILE 
By MARVIN SISSEY
In Summary
  • In seeking to betray each other, commerce has a way of making sure we pay high cost and lose out.

Tanui and Juma have been arrested for robbing a bank and are held in separate isolation cells with no means of speaking to or exchanging messages with each other.

Pick best cost structure that adds value to your clients


Shoppers at a supermarket in Nyeri. Businesses must consider the value cost-cutting measures will add to customers before adopting a given model. Photo/Joseph Kanyi

Shoppers at a supermarket in Nyeri. Businesses must consider the value cost-cutting measures will add to customers before adopting a given model. Photo/Joseph Kanyi 
By Scott Bellows
In Summary
  • Although saving on operational expenses is key in business success, bear in mind benefits for customers.

Using the example of the JamboJet launch in Nairobi, let us examine costing your products and services as an entrepreneur.


NSSF MOBILE TAARIFA : Pata taarifa za Michango katika Simu yako ya Mkononi


TAARIFA ZA MICHANGO:
Kujisajili:

Tuma neno SAJILI kwenda 15747

Kupata Taarifa:

Tuma neno TAARIFA kwenda 15747

Kujua Salio:

Tuma neno SALIO kwenda 15747

yu workers seek travel ban against Indian boss


CEO Madhur Taneja. FILE

CEO Madhur Taneja. FILE 
By GALGALLO FAYO
In Summary
  • The 233 workers who moved to the Industrial Court want to stop an impending sale of the company until the firm discloses to them terms of on alleged retrenchment plan.



Employees of Essar Telkom, which runs the yuMobile mobile phone network, are seeking court orders for CEO Madhur Taneja to surrender his travel documents arguing that he may flee the country.

Ecobank set to open investment banking arm

Ecobank CEO Ehouman Kassi. He says the bank is hopeful of securing regulatory approval in a month. Photo/FILE
Ecobank CEO Ehouman Kassi. He says the bank is hopeful of securing regulatory approval in a month. Photo/FILE 
By CHARLES MWANIKI
In Summary
  • The bank joins a growing list of lenders diversifying into transaction advisory services with an eye on commission earnings from mega deals expected from recent discoveries of minerals and oil.
  • Banks now own nine out of the dozen licensed investment banks. Other lenders with investment banking subsidiaries include Barclays, NIC, CFC Stanbic, Commercial Bank of Africa, ABC, Equity, Cooperative and Chase Bank.

Scania deal earns Akamba bus kin millions


 Christopher Podgorski of Scania (left) with the Transport Safety Authority boss Lee Kinyanjui. Photo/Diana Ngila

Christopher Podgorski of Scania (left) with the Transport Safety Authority boss Lee Kinyanjui. Photo/Diana Ngila 
By MUGAMBI MUTEGI, pmutegi@ke.nationmedia.com
In Summary
  • Niaz Nathoo, the managing director of Kenya Grange Vehicle Industries which has been the exclusive franchise holder and reseller of Scania buses and trucks in Kenya, has sold part of his assets, giving the Swedish company exclusive control of the distributorship of its vehicles.
  • Scania said the acquisition of Mr Nathoo’s assets as well as new investment in the business cost a total of Sh2.58 billion.
  • The Nairobi Industrial Area-based dealer will now be known as Scania East Africa Limited.

Massive corruption in counties exposed


Michael Mubea, the deputy CEO of Ethics and Anti-Corruption Commission. FILE

Michael Mubea, the deputy CEO of Ethics and Anti-Corruption Commission. FILE 
By George Omondi, omondi@ke.nationmedia.com
In Summary
  • The Ethics and Anti-Corruption Commission (EACC) says its preliminary assessment of the 47 counties has uncovered massive irregularities in staff hiring and tender awards.

Almost every county government has flouted tendering rules and violated staffing guidelines by rewarding cronies and relatives, the anti-graft watchdog says.

Board annuls duty-free shops tender award to swiss firm


Tourists arrive at the Moi International Airport in Mombasa. The KAA tender team had in November 2013 recommended that the concession contract be awarded to Nuance Group. FILE
Tourists arrive at the Moi International Airport in Mombasa. The KAA tender team had in November 2013 recommended that the concession contract be awarded to Nuance Group. FILE 
In Summary
  • The Public Procurement Oversight Authority (PPOA) said the Kenya Airports Authority (KAA) did not strictly comply with the evaluation rules in awarding the contract for running the shops to Nuance Group AG.
  • The KAA tender team had in November 2013 recommended that the concession contract be awarded to Nuance Group after it beat nine other bidders to the job of putting up the shops within terminal four of Jomo Kenyatta International Airport.

KCB stays ahead of Equity in banks’ profitability race


Equity Bank CEO James Mwangi (left) and KCB Group CEO Joshua Oigara. FILE
Equity Bank CEO James Mwangi (left) and KCB Group CEO Joshua Oigara. FILE 
By GEORGE NGIGI and DAVID HERBLING

In Summary
  • KCB returned an after-tax profit of Sh14.3 billion, opening a Sh1.1 billion gap with its closest rival Equity Bank.
  • Equity also released its annual financial results Thursday showing that its after tax profit grew 10 per cent to Sh13.2 billion for the same period.
  • This means KCB also grew its profit at a faster rate than Equity – setting it up for continued market leadership if the trend continues. 
  • KCB returned a bigger profit despite the fact that Equity ran a wider revenue margin in the year under review.

Thursday, February 27, 2014

To compete with Rwanda, Kenya, observe standards, TRIT advises tea farmers


TRIT Executive Director, Dr Emmanuel Simbua
 
The Tea Research Institute of Tanzania (TRIT) has urged tea processing factories in the country to refuse purchasing substandard tea from farmers as a way of competing with fellow producers from Rwanda and Kenya who are doing better at the Mombasa tea auction.

We're planning commodity exchange set-up, says govt


Grain storage tanks. (File photo)
The government through the ministry of Agriculture, Food Security and Cooperatives is planning to enter into commodity exchange as an initiative towards achieving Big Results Now (BRN).

Who does not want quality journalism?


Editorial Cartoon
The Media Council of Tanzania (MCT) on Tuesday named 101 media practitioners – 46 from newspapers, 39 from radio stations and 16 from TV stations – to vie for special mention in 19 categories of the 2013 Excellence in Journalism Awards Tanzania (EJAT).

5 firms to be listed on EGM before year-end


DSE Chief Executive Officer, Moremi Marwa
 
The Dar es Salaam Stock Exchange (DSE) through its Enterprise Growth Market (EGM) plans to list between three and five companies under the market before end of this year, the management has confirmed.

12-year old Emmanuel does it


  He demonstrates that disability is not inability!
Emmanuel Festo puts finishing touches to one of his portraits, as captured at UTSS Summer Camp in Mwanza Region late last year. (Photo: Emmanuel Kwitema, UTSS)
 
Remember Emmanuel Festo? This is the boy with albinism, who lost an arm and fingers in a brutal machete attack in Kagera, in 2006.

US delegation says Bagamoyo 'town of huge business potential'


Mayor Osby Davis
Mayor Osby Davis of Vallejo California on the West coast of the US yesterday led a delegation of potential investors from the city to visit Bagamoyo which he described as ‘a town with many investment and business potentials.’

Referring to Bagamoyo and Vallejo as sister towns Mayor Davis said “…it is good that the long time relationship is now evolving into business ties…” and “…we feel at home here.”

Farmers, SAGCOT sign MoU, earmark transition to commercial production


Southern Agriculture Growth Corridor of Tanzania (SAGCOT)
 
Well over 10,000 small-scale farmers will benefit directly from a recently signed Memorandum of Understanding (MoU) between them and the multi-stakeholder agency, Southern Agriculture Growth Corridor of Tanzania (SAGCOT) earmarking the farmers’ transition from substantial to commercial producers.

FCC considering engaging local brand owners in fight against fake products


Fair Competition Commission (FCC)
The Fair Competition Commission (FCC) has announced plans to engage local brand owners in a war against counterfeit goods which have been hurting the economy and slowing down Tanzania’s economic development.

CA Interim Chair cautions media against misleading public on proceedings


Amir Pandu Kificho
Interim Chair of the Constituent Assembly, Amir Pandu Kificho yesterday cautioned the media against publishing biased and unbalanced reports of the CA meetings warning that such a move may mislead the public as to the actual reality.

Mengi: TPSF is for local, foreign businesspersons


IPP Executive Chairman Dr Reginald Mengi in talks with the French Ambassador to Tanzania, Marcel Escure' who paid him a courtesy call at IPP offices in Dar es Salaam yesterday.
 
The Tanzania Private Sector Foundation (TPSF) is open to local and foreign businesspersons with ventures in the country.

Former president Mwinyi advises PSPF to increase public awareness of benefits


Former President Ali Hassan Mwinyi unveils plaque to launch Public Sector Pensions Fund (PSPF) call centre services at the Fund's annual general meeting in Dar es Salaam yesterday.
 
Former President Ali Hussein Mwinyi has challenged the Public Security Pension Fund (PSPF) to conduct a countrywide awareness campaign for its registered and none registered members as well as to benefits they stand to gain from the fund.

Wednesday, February 26, 2014

Signs that you are living on the edge

Signs that you are living on the edge

If debt is overwhelming you, act before you drown
newvision
By Sylvia Juuko
Everyone gets into a tight financial bind once in a while but eventually get back onto a firm footing. For example, you can be late on rent or mortgage payments or delay to pay your school fees. These are eventually paid off and you can still meet other necessities.


Have you stuck to your financial targets this year

Have you stuck to your financial targets this year?

Did you finally buy or build the family home you had planned for at the beginning of the year?
newvision
By Sylvia Juuko

The year is drawing to a close, making it an opportune time to take stock of your personal financial performance in the last 12 months.

Do you have a succession plan?


Do you have a succession plan?
A succession plan ensures that when someone leaves his job it is immediately  lled by a well suited candidate
 
newvision
By JOSEPH KABUYE
Finally, he announces his retirement and everyone starts wondering who is next in line for the management position that’s about to go vacant. All the potential candidates start to panic and lay strategies on how they can beat their opponents. This is

The future is bright with NSSF-Uganda

The future is bright with NSSF

NSSF MD Richard Byaruhanga delivers a presentation at the first Annual Members Meeting recently.
newvision
 
By Samuel Sanya
National Social Security Fund (NSSF) recently held the first annual members’ meeting in the fund’s 46-year history at the Serena Hotel, Kampala.
This was to reaffi rm a commitment to be the more customer-centric as the new dawn of pension’s sector liberalisation emerges.


Compulsory saving for security forces long overdue


By Paul Busharizi
Police chief General Kale Kayihura has mooted a plan to have all policemen enrolled in the Uganda Police Force’s savings & credit cooperative scheme (SACCO).
The four-year old police SACCO has a membership of 21,000 and has accumulated savings of about sh3b.\

Making sense of pension reform

By Jan Krzysztof Bielecki and Mark Allen
















Pension reform has become one of the most troubling fiscal dilemmas facing developed countries, especially those with a shrinking workforce and an aging population.

The issues are both complex and controversial, while seeming quite dull to much, if not most, of the public. As a result, serious discussion is too often hijacked by those with an ulterior motive.

Pension reforms to drive economy growth - experts

Pension reforms to drive economy growth - experts

newvision
By Billy Rwothungeyo

The pension reforms in Uganda will free capital into the hands of the private sector to champion infrastructural development, a key figure from one of the private firms set to benefit from the reforms has intimated.

Liberalisation of retirement benefits: The flip-side

newvision

 



By Martha Aheebwa

The passing of the Uganda Retirement Benefits Regulatory Authority (URBRA) Act was seen as a step in the right direction in protecting the beneficiaries and streamlining the regulation and management of the sector. 


Workers to benefit from pension reforms


Workers to benefit from pension reforms

The pension scheme helps workers save for the future
newvision
By Gilbert Kidimu
When you are in your 20s and 30s, one of the last things on your mind is saving for retirement. It all seems like a distant reverie. How many people would dodge NSSF if given a chance? And how many have bothered to check their social security accounts in the past five years? Your guess is no stranger to mine. Saving for retirement is something most Ugandans contemplate when it is a little too late.


Retirement benefits regulatory authority allays fears on pension reforms

Retirement benefits regulatory authority allays fears on pension reforms

URBRA’s Andrew Kasirye
newvision
By David Mugabe and Billy Rwothunegyo

The Uganda Retirement Benefits Regulatory Authority (URBRA) board chairman, Andrew Kasirye, has played down the fears especially by workers in the evening of their careers of the pensions liberalisation process.

How did ghost pensioners come to be?

How did ghost pensioners come to be?

Muhammad Ahmad Tarek (L), Abbey Kaddu and Kizito Ismail at Kibuli. Tarek was released. PHOTO/Eddie Ssejjoba
.
By Vision Reporters
Ghosts are supposed to be supernatural, not employees in Uganda’s Public Service. But hardly a month passes before you hear of ghosts on payrolls, or in this case, ghost pensioners.

HR managers train in pension fund management

HR managers train in pension fund management

Some of the human resource practitioners who attended the training
 
newvision
BY Francis Emorut

Human resources practitioners have been trained in pension fund management in order to ensure that retiring staff benefits are well secured and not mismanaged.

Tanzanians in Kenya send home Sh24bn


“But Tanzania accounted for the largest share of money that immigrants sent back to Kenya, with some $118 million (Sh188.8bn) remitted by Kenyan nationals working in the country,” US-based PewResearch Centre.PHOTO|FILE 
In Summary
According to the 2009 Human Development Report launched last week by the UN, average remittances per person in Kenya were $42, $27 for Uganda, $5 for Rwanda and $0 for Tanzania, compared with $26 as the average for sub-Saharan Africa, which received a total of $16,815 million.


Dar es Salaam. Tanzanians living and working in Kenya sent back home Sh24 billion ($15 million) in remittances for the year 2012, it has emerged.