Eve Mbasabye

Eve Mbasabye

Victoria University Hosts Two Day Financial Literacy Seminar

Participants who attended a two-day financial literacy seminar at Victoria University on 29th and 30th October learnt that for business sustainability, there is a need for an entrepreneur to have sufficient financial accounting knowledge like financial record keeping, prudent financial management skills and budgeting for financial resources.

The educative financial literacy seminar targeted members of the business community, corporate employees and the not for profit organizations. Over 350 individuals participated at the enriching seminar which is part of the Victoria University’s community engagement programme.

A team of top financial professionals and lecturers at Victoria University facilitated the seminar. They advised that financial record keeping is not an option but a must for business entities to succeed.  

Victoria University said the seminar is intended to improve financial management and financial record-keeping skills among the business community, not-for-profit entities as well as the general public.

Akaka Alex, the founder of Community Based Rehabilitation of Children with Disabilities speaking at the seminar said that people with disabilities should also be catered for so that they also get to learn and acquire these financial skills.

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New Prefects Sworn In at Kampala Parents School

Kampala Parents’ School has new prefectorial leadership after swearing-in student leaders this Friday morning at the school campus in Naguru.

The new cabinet will be led by Ian Calton Muyimba, the head boy and Agartha Ahumuza, the head girl. The event was witnessed by students, teachers, school management, parents and invited guests.

The two teens swore to perform their duties earnestly and to the best of their abilities, adhere to the code of conduct and school rules and set a good example by behaviours, honesty and to help the young ones become better citizens.

The school director Rajiv Ruparelia in his speech said that by taking up leadership roles, the prefects are setting an example of thousands of other Ugandan children who should aspire to be the future leaders of this country.

“You are lucky to come to a school like Kampala Parents' School. Don't take that opportunity for granted. Take it and nurture it. Take what you get from this school and share it with the rest of the world. You will be a good job,” Rajiv said.

The minister of state for Youth and Children Affairs Florence Nakiwala Kiyingi, who presided over the swearing-in ceremony, appointed the head boy, head girl and Patrick Ssenyonjo aka Fresh Kid to do advocacy work to stop children from going to streets as beggars.

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Kabira Country Club Bags Global Award As Best Luxury Boutique Hotel

Kabira Country Club Week has every reason to celebrate after emerging the best Luxury Boutique Hotel in East Africa at the 2019 World Luxury Hotels Awards which were announced October 12th at the Arctic TreeHouse Hotel in Finland.

Kabira Country Club, a member of the Speke Group of Hotels, joins the victory parade of their sister hotel Speke Resort and Conference Centre that was named the best lakeside luxury resort in Africa.

Commenting on the achievement, Speke Group of Hotels proprietor Dr. Sudhir Ruparelia, speaking to local media personality Godfrey Baluku attributed the win to quality services offered by staff and world-class treatment of all guests at his properties.

According to officials at World Luxury Hotels, the winning hotels were being rewarded for their sustained commitment to excellence in hoteliering and outstanding achievement in the international luxury hospitality industry.

15 Licenses On Offer As Somalia Opens Up For Business

Rich in hydrocarbons and possessing a favorable geological structure, Somalia holds huge opportunities for investors looking to enter the East African market, said the country's Minister of Petroleum and Mineral Resources, Hon. Abdirashid Mohamed Ahmed at the Africa Oil & Power conference.

"Nowhere is the contribution that the energy industry can make to civil society and economic development greater than in Somalia," he said. Noting that the sector has the potential to greatly enhance stability and economic development.

On its path to transforming its petroleum industry and attract the attention of new investors, Somalia has made significant progress in recent years. This year, the country passed a new petroleum law which enabled it to make progress in exploration and development and attract interest from oil and gas majors ExxonMobil and Shell.

"My ministry worked successfully with the six federal member states to develop an equitable and transparent framework for development, focused on the greater good of Somalia and all its people, whilst ensuring that we are highly competitive internationally to attract investment by delivering returns that are consistent with the risks and rewards of developing our off-shore industry," said the minister

Eager to demonstrate to the world that Somalia is open for business, the minister said the country is currently on an international roadshow which will showcase the exploration opportunities available in its hydrocarbons sector.

"This includes seismic data recently shot by Spectrum covering 20,185 km. The current licensing round is in respect of up to 15 blocks, covering a total area of approximately 7,500 square miles.  The bid round will follow shortly after to ensure that the world knows: Somalia is open for business."

Minister Ahmed also spoke on the attractiveness of the country's production sharing agreement (PSA) model for offshore oil exploration and development – regarding it as being amongst the most attractive to investors in the frontier basins. The PSA provides a highly attractive regulatory fiscal framework that is both competitive and equitable for both the people of Somalia and international oil companies (IOC).

"By equitably linking of royalties and share of revenue closely to the price of oil, the Somalia PSA ensures that IOCs can recover their up-front development costs and earn a fair share profit even if oil prices fall, whilst maximizing the profit going to the Somalian people," the minister explained.

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