Zimbabwe: The Reserve Bank will with Immediate Effect start Process towards Issuance of Bond Notes as a legal tender (01.11.2016)

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South Africa: Time to account for crippling the state (01.11.2016)

Mandela Quote

South African citizens across the land are speaking out and taking action to express their dissatisfaction. The Nelson Mandela Foundation supports the demand to hold to account those responsible for compromising our democratic state and looting its resources.

Twenty years since Nelson Mandela signed South Africa’s Constitution into law and as the third anniversary of his passing approaches, it is painful for us at the Nelson Mandela Foundation to bear witness to the wheels coming off the vehicle of our state.

We have seen a weakening of critical institutions such as the South African Revenue Service, the National Prosecuting Authority and law enforcement bodies due to political meddling for private interests.

We are reaping the results of a political trend of personalising matters of state around a single individual leader. This in a constitutional democracy is to be deplored.

The ability and commitment of the Head of State to be a ‘constitutional being’, is one of the wheels of our state. The unanimous judgment of the Constitutional Court of the Republic in the matter of President Zuma and the use of state resources on a private residence was one such test. It is increasingly a national consensus that he has failed the test.

As this particular wheel rolls away, other critical institutions of state break off to follow it. The legislative, business, and public service sectors of the country are severely affected, compromising the ability of the state to serve the people. A battle now rages to keep SARS attached to the vehicle of state. What public discourse has described as ‘state capture’ by private and political interests is, we believe, a real threat to the Republic.

Another wheel is an accessible and well-functioning education system. Arguably this wheel has never been fully attached, but the failures of the last two decades threaten that it rolls away. Schools, in our view, particularly those in townships and rural areas, have largely been captured to political interests and have deteriorated to unimaginable levels. And now universities are being brought to their knees as they lurch from crisis to crisis while a semblance of normality is enforced under what are effectively states of emergency. This is not sustainable for any education system. The potential collapse of universities will damage our democracy to its core.

We call on the governing party to take the steps necessary to ensure that the vehicle of state be protected and placed in safe and capable hands. And we join the call for a national convention of stakeholders to begin to reimagine South Africa’s future beyond the unsustainable stresses of the moment.

Written Press Statement by the Nelson Mandela Foundation

Vanished money from a building project at the Kenyan State House!

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This is an outtake of the Auditor General Report of 2014/2015, which means last budget year in Kenya. This is the State House of President Uhuru Kenyatta. The Jubilee Government have shown their character here.

Here they have first contracted one fellow to build certain things at the Statehouse, before the evident building happen at the Statehouse; they hired a second firm to build the same the first one we’re supposed to. That seems to be a way to vanish government funds and implicates the corrupt behaviour from contractors and state at the State House. That is just too beautiful to be fantasy. Uhuru, what say you? Who is the wrong one here?

“In paragraph 209 of the report for 2012/2013, attention was drawn to the irregular payment of Kshs.88,826,396.00 to a contractor who was constructing a mechanical workshop and petrol station at state house that had stalled . Although the matter was discussed before Public Accounts Committee (PAC), a determination was not made as the project was to be evaluated by the relevant technocrats to determine value for money. However, before the evaluation was done, State House awarded a new contract of Kshs.137,407,865.00 to another contractor for conversion of the mechanical workshop to offices. There were indications that the stalled project costing KShs.88,826,396.00 was demolished to pave for the construction of new project, therefore, the value for money for the initial expenditure could not be confirmed in accordance with Section 68(1)(a) and (b) of the Public Finance Management Act (2012). Consequently, the propriety and lawfulness of the expenditure amounting to Kshs.88,826,396.00 could not be confirmed” (P: 37, 2016)

Here one contractor gets in the budget year Kshs.88,826,396.00; and before the proof of works is done a new contractor gets Kshs.137,407,865.00 and the first payment we’re sent off even without any checking of proper work. While the State House offered second contractor before first was done. They couldn’t confirm the payment and transaction to the company that was supposed to build the Mechanical Workshop in the first place. That to me seems like money went into the wind. What do you think? Does the Republic of Kenya deserve this kind of handling of money even from the steps and offices of State House? Peace.

Reference:

Republic of Kenya – ‘Report of the Auditor-General on the Financial Statements for

National Government for the Year 2014/2015’ (15.07.2016) – FCPA Edward R. O. Ouko, CBS

RSA: Confidential for External Proactive use only – Barloworld Equipment clears dispute with OCM (27.10.2016)

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Nakumatt Corporate Posistion Statement (27.10.2016)

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Kenya: “Re: Request for Information Relating to the Tax Returns of H.E. William Samoei Ruto” (24.10.2016)

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Footage: “Vendors at the old taxi park in Kampala went haywire as KCCA evicted them today. Police fired live bullets to disperse the angry rioters” (Daily Monitor reports)

Opinion: Hon. Beti Kamya clearly is ready to override the Democratically Elected Leadership of Kampala in her ways of clearing the streets!

kamya-quote

I know you’re a former opposition leader who now so loyal to Museveni that its disgust me. Not like Hon. Nsereko who we’re a rebel NRM and turned back to former allies. That is different. You we’re supposed to question the leadership of the Movement and Yoweri Kaguta Museveni. You called him even at one point heartless and ignorant of other leaders in the land.

Therefore it’s ironic today that you’re now running wild on the Street Vendors of Kampala, abolishing them without procedure, because your words as a honourable and State Minister have the Authority to control the Capital without question. I am sure Dr. Jennifer Musisi going to question you, though she is loyal to the same master as you are. Than there the Lord Mayor Erias Lukwago who is not just a shambolic or a symbolic figure to stand beside the Baganda Caucus and in the Kampala Capital City Authority. Though you wish so, because all of a sudden your words are platinum and are so unique that they can decide the fate of all people of Kampotholo. I am right ma’am?

Just because you make a decision on the 19th October to:

“As part of our effort to improve Kampala City, all illegal street vending activities will not be allowed to continue because they affect trade and cause a security threat, congestion of streets and walkways. They prevent normal operation of licensed business and also create unfair trade competition. They cause littering in the city and make it impossible to maintain and clean the roads and walkways. The KCCA has identified several vending facilities in markets in and around the city as an alternative to vending on the streets. A number of these markets are not fully occupied. The street vendors are advised to take advantage of these markets and work together with KCCA in case they need their conditions in such markets considered or reviewed for purposes of enhancing their business. The street vendors are advised to register at the available markets with the management of the said markets in order to be allocated space. Government therefore directs all street vendors to vacate the streets, road reserves, open spaces, road carriageways and sidewalks forthwith” (KCCA, 19.10.2016).

As you continued on ploughing your way on the 22nd October:

“Yesterday, I met with some leaders of many vendors’ groups and advised them to form SACCOs through which Government can channel financial support that can help their members settle in other places. The Minister of State for Microfinance has been informed of this need and has promised his readiness to visit and inspect existing SACCOs or to help compliant groups to form SACCOs.  As you all know, H.E. the President is very keen to support organised groups. Street vendors and hawkers operating in Kampala Business District are advised to get stalls in markets around Kampala, especially in USAFI & Wandegeya markets where space is currently available. I am aware that H.W. the Lord Mayor has invited the Authority for a meeting on Monday 24th October, 2016 to discuss matters of trade order in the city. I wish to recommend to them that among other measures they will discuss, to consider significantly reducing market rates for vendors in those markets in order to make them affordable to street vendors” (KCCA, Beti Kamya, 22.10.2016).

So I am sure some of Gen. Salim Selah’s ghost money and ghost companies can help out fellow street vendors who struggle to cigarettes, New Vision and napkins. They all can afford to pay to fees to stay into facilities that you now offers and that people will not pop-by other buyers in the meanwhile as you are taking the poors livelihood, because your words matter more than to those who are struggling day-to-day to make enough, but you’re now eating on Mzee’s plate so you have forgot how that was. Certainly the words of you shouldn’t need to be discussed as this is pleasing you and not the people, the street is their boulevard and their place as they cannot afford mansions and big houses in the suburbs like you do. The street and alleys might be their social place and where they naturally congregate because they doesn’t can afford big space, living room or a balcony where they can chill-out like you. That might seem noisy, but the poor-man’s balcony and living-room is the corners. I know your never thought of that did you State Minister Kamya? That didn’t even flinch in your mind?

“I have already made a directive, the council doesn’t discuss the minister’s directive, they simply have to comply” – Beti Kamya on NBS TV on the 24th October 2016.

She proves that she doesn’t care about other than her orders, she is the new Queen of Kampala, she will even order around Dr. Jennifer Musisi as she put the directive and the Lord Mayor, Mayor’s of Kawempe, Nakawa Makindye and so on just has to comply with the will of Kamya; her words is partly law. So the discussion today we’re not needed, the elected leadership of Kampala is totally useless if she can just do as she likes without any consideration of other voices or elected leaders. Is that what she is saying that she is a midlevel-leader who put out decrees on the streets, on the trees and on the markets… when done so the citizens has to comply that her word is the LAW!

If so than the KCCA machinery is a fraud, is a fake and is worthless system of procedure that only complies with the implicated fractions that has no voice and not worth the house they are meeting in. They could just be home and take the pay-check from the KCCA and spend it on Mango’s and Nile brew while waiting for next election in 2021. That is what Hon. Beti Kamya initially saying without saying. Because she doesn’t have the heart to say it, because of her ego and her merciless loyalty to Museveni, now!

We all could see this coming, Hon. Frank Tumbewaze might be spiteful and be conning as can be, but he impeached the Lord Mayor for his sake and for saving grace of the Executive Director Musisi. Now Kamya want to jump that score this time and decree her way away from City Hall, City Authority and all the elected leadership. Since she believes as Minister she is the Queen, the Jean d’Arc of Kampala for showing her diligence to her splendid well-paying Master Museveni. Peace!

A look into the Crane Bank sudden fall from Grace!

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Mutebile says Crane Bank takeover was because it lacked sufficient capital and posed a systemic risk to the financial system” (NBS TV Uganda, 21.10.2016).

There are too many signs, but the sign today that shatters the fiscal policies not worth the ink printed on the shilling; is the fall of grace from the former engine of the economy Crane Bank Limited (CBL) that we’re owned by a foreign investor and even saved by European Investment Bank (EIB). The refuelled money came in 2014 and had record results in 2015. So it’s weird by May 2016 that the bank we’re all of sudden under heavy losses. It’s not like the ATM Museveni who emptied the State House and needed new funds after Campaigns of 2015/2016. So you start to wonder if this is connected to the #ScamBailouts of Companies that even had very many accounts at the Crane Bank.

There are so many questions and reasons if it is a plot behind the scenes as the Owner Sudhir Ruparelia. That happens with the takeover of National Bank of Commerce (NBC) even at some point to gain bigger markets in 2012.

“We have picked clues that it is about the way NBC was closed and hurriedly taken over by Crane Bank and the second lead relates to politics; there are some individuals who think that Sudhir could have bailed out President Yoweri Museveni with money from his bank during campaigns and so these are trying to spoil business,” the sources say, referring to a brief about the ongoing negative publicity about Crane Bank that was reportedly prepared by Economic Monitoring Desk in the Office of the President” (Eagle.co.ug – ‘Former Premier Mbabazi cited in Crane Bank woes’ 14.10.2016).

All of a sudden the bank even swindles the long-living Honourable Member of Parliament Sam Kuteesa:

A new scandal is raging in Crane Bank after its own staff stole Shs 846m from the bank’s customers. Of this, Shs 800m was withdrawn from the account of H.E Sam Kutesa, the President of United Nations General Assembly and Uganda’s Foreign Affairs Minister and the Shs 46m from other customers in Kabale district” (…) “We contacted Sudhir Ruparelia, the Managing Director of Crane bank and this is what he said: “It is not true anyone lost money. I don’t talk on phone to people I don’t know. Come to my office”. Later, his daughter said: “As a matter of policy, the bank cannot discuss details of a customer. If you want any help, write to me, I will see if can help you”. Kutesa’s aide, Joseph Barigye, speaking from New York in the US said the bank was “sorting the mess”. Meanwhile, the bank has tasked the Forex Manager to compensate the loss” (TheInsider.co.ug – ‘Crane Bank staff swindles Kutesa’s Shs800m’ 29.04.2016).

Newspapers Same Scandal Uganda

In December 2015 an unknown bank could be closed by BoU:

“A highly placed source working with the said bank, told Newz Post that the regulator is concerned with the state of affairs at this commercial bank. The bank of all bankers has advised that something be done urgently or the worst might happen to this bank. –closing the bank” (…) “The December 2015 report by BOU auditors, found that the said bank was ‘‘less than satisfactory’’. The bank was given time to sort itself out. Meanwhile, BOU kept a close eye on bank” (…) “With pressure from BOU to do ‘‘something’’, the bank has increased pressure on the heavy borrowers, who have since resorted to selling their assets and business to pay back the loans. The BOU has also advised that the bank must get an investor to pump in more money as well as bring in management expertise” (Newz.ug – ‘BANK OF UGANDA THREATENS TO CLOSE A TOP COMMERCIAL BANK’ link: http://newz.ug/bank-of-uganda-threatens-to-close-a-top-commercial-bank/ ).

With this in mind, the biggest Commercial bank Crane all of sudden gets into management. That the bank had to close monitored must be because of the ownership and also the recent campaign trial of the government. That cannot be coincidence as the objective of that is over and now the bank is in shatters. Therefore the bank management and stakeholders has tried to keep the costumers and confidence up high, even getting the BoU to lie. As I show here.

So when that transaction happens in that regard, here is something more telling about the Crane Bank of September:

Atlas Mara, the African financial services company co-founded by the former head of Barclays’ Bob Diamond, was in talks to acquire a stake in Uganda Crane’s Bank, a person familiar with the matter said. The talks were at an early stage, the person said, asking not to be identified because the discussions were private. Atlas Mara values the bank at $250 million (R4 billion), while Crane Bank says it is worth $300m, a Nairobi-based east African newspaper reported, without saying where it got the information. Crane Bank said in September that it was looking for a strategic equity investor with a regional or continental network” (Cape Times – ‘Stake in Crane Bank on table’ 20.10.2016).

As that was happening in the hollow chambers of Atlas Mara this we’re the statement from BoU:

As of now, the Bank of Uganda has not received any request from Crane Bank to approve a change in shareholding. Should such a request be received, the proposed share holders will be vetted for “fit and proper” credentials and positively considered if they warrant approval. It should be noted that it is normal practice for financial institutions to change shareholding in line with their strategic objectives, and this has happened several times in Uganda” (Alupo, Christine – ‘Bank of Uganda on the Crane Bank Ownership’ 19.09.2016).

So there was a lie three somewhere in between the Bank of Uganda, Crane Bank and the Atlas Mara; as the Financial Service wouldn’t hunt for a new owner at the same time as the BoU would supress the idea of selling the shareholders and ownership of the same bank. That is just blatant lie from the Central Bank and Government of Uganda who covers up misconduct from their greatest Commercial bank, that had massive profits in 2015.

Museveni Swears In

If we’re talking about misconduct this one from the grandmaster kingpin His Excellency Museveni:

“A few days back (Monday), one of our journalists Sewakiryanga Ivan reported that the first family was withdrawing huge sums of money from Crane Bank. According to Ivan, Museveni had spent huge sums ($ 200 million) on the February Presidential Campaigns money, money reportedly drawn from Crane Bank. He also revealed that Crane Brank among other investments purportedly owned by Sudhir and Bassajalaba was owned by the President” (Buule, John – ‘Museveni finally sells off Crane Bank to Uganda’ 20.10.2016 – Mycampusjuice.com).

So if these reports are true, together with the shady dealings of the past as the Sudhir Raparelia who might even just been a perfect stooge in foreign investment scheme of things; while President Yoweri Museveni could run mad on his own enterprise as the bank has lasted for 24 years of the 31 years he has had the reign. That makes it possible after a little heckling over money he made his own bank to take it away from the reach of Bank of Uganda, the Central Bank and Reserves of the State. A state now so broke that now the funds for his Campaign has shattered the biggest Commercial Bank and it’s put under management of BoU. This is where even the Mighty President was not allowed to borrow for his expensive campaigning and paying of his loyal cadres to be behind after the election because of shillings of glory.

So with this in mind, the sale of Financial Service Atlas Mara wouldn’t be setup as the shoddy accounting and transparency of the bank where not fitting any prospects. Even a former Barclay’s Manager wasn’t able to settle the deal for new ownership. I am sure the finances and books weren’t sweet enough. Another reason why the Bank of Uganda wanted to make sure the Citizens of Uganda didn’t know the misconception of the safety of keeping accounts and transactions at the Bank. Together these indications prove the imbalance and wish to keep the first families activities in the shadow as they want to keep their acts behind closed doors. Still, when it surface it’s usually cause venom or disharmony as the Executive doesn’t have the Ugandans at heart, but his own pockets. Therefore even the Director of BoU Prof. Emmanuel Tumusiime-Mutebile sent him packing before emptying his treasure chest at the Crane Bank.

If this is the fact, than there are certainly many tax-payers and others accounts wiped out because of the greed of the old man with the hat. That used his last option to pay his creditors for the Presidential Campaign of 2016. Which cost a fortune for him with the buses, artists and all the other political aides paid off for the sake of 30 years and counting; the pride of the man with a lost vision. Peace!