
Bank of Uganda: Change in Signature on Uganda Shilling Banknotes (17.02.2017)


“Update from the courts earlier today. Matter has been postponed to March 16 because the state was not ready. Our resolve remains steady in uniting the citizens of Zimbabwe as we prepare for the coming season of change. #ThisFlag” (Evan Mawarire, 17.02.2017)

“The arms trade – an intricate web of networks between the formal and shadow worlds, between government, commerce and criminality – often makes us poorer, not richer, less not more safe, and governed not in our own interests but for the benefit of a small, self-serving elite, seemingly above the law, protected by the secrecy of national security and accountable to no one.”
― Andrew Feinstein
As of today there two United States Representatives from the Republican Party Ted Budd of North Carolina and Duncan Duane Hunter from California that for their own reasons to stop sales of U.S. arms to Kenya, this they have forwarded a joint resolution. This was first from Ted Budd, but Duncan Hunter became his co-sponsor of the bill. Of today it has been transmitted to the Committee at the House Foreign Affairs that will work on it, before initial voting.
“That the issuance of a letter of offer with respect to any of the following proposed sales to the Government of Kenya (described in the certification Transmittal No. 16–79, sent to the Speaker of the House of Representatives and the chairman of the Committee on Foreign Relations of the Senate pursuant to section 36(b)(1) of the Arms Export Control Act (22 U.S.C. 2776(b)(1))) on January 19, 2017, is hereby prohibited:
(1) Twelve Air Tractor AT–802L.
(2) Two AT–504 trainer aircraft.
(3) Weapons package, technical support and program management” (Budd & Hunter, 2017).
It is not long ago since this was sanctioned to the Kenya Defense Force and their missions, as this was a supplement to the on-going missions that the Kenya contingent in Somalia and might even be used as blue-helmets inside South Sudan. Still, the U.S. Representatives think these will be misguided and not well used arms for their ally in East Africa. This is the double-standard and double moral from the U.S. counterparts that easily has dropped and sold this sort of weapons to others, but has to all of sudden sanction Kenya for buying the same thing.
Just take a look at the timing of the deal between the U.S. and Kenyan earlier in 2017:
“The US Defence Security Cooperation Agency (DSCA) notified Congress of the possible sale on 19 January and disclosed the potential sale on 23 January” (…) “The DSCA said Kenya had requested the sale of up to twelve Air Tractor AT-802L and two AT-504 trainer aircraft, weapons, technical support and programme management worth $418 million” (…) “This proposed sale contributes to the foreign policy and national security of the United States by improving the security of a strong regional partner who is a regional security leader undertaking critical operations against al-Shabaab and troop contributor to the African Union Mission in Somalia (AMISOM),” the DSCA said” (…) “The proposed sale provides a needed capability in the ongoing efforts to counter al-Shabaab. The platform maximizes the Kenyan Defense Force’s Close Air Support (CAS) ability because it is a short-field aircraft capable of using precision munitions and cost effective logistics and maintenance.” (DefenceWeb, 2017).
So a purchase accepted in January is now in question in February, as the new Trump Administration will not care for the allies and friends as such before. The DSCA sanctioned the sale on the 23rd January 2017 and now on the 14th February 2017 the U.S. Representatives questions the sale. So the AMISOM mission and their allies who fights in it doesn’t matter as much, as that was the destination for the arms and technical weaponry in this transaction. That the sales of close worth over $400m that suddenly goes into the wind!
We will see if the Foreign Affairs Committee at the House of Representatives will work with this and see if this will go for voting in the House or Senate to sufficiently go forward with joint communique of Ted Budd and Duncan Hunter. That then will become legislation as the deal will not happen as the Committee will put forward a motion or legislation that the stops the arms agreement and trade between the DSCA and the Government of Kenya. Therefore the U.S. Arms trade to the Kenyan Defense Force.
This story is certainly not over. Peace.
Reference:
DefenceWeb – ‘US approves possible Air Tractor, weapons sale to Kenya’ (24.01.2017) link: http://www.defenceweb.co.za/index.php?option=com_content&view=article&id=46563:us-approves-possible-air-tractor-weapons-sale-to-kenya&catid=35:Aerospace&Itemid=107
Representative Ted Budd (R-North Carolina) & Representative Duncan Duane Hunter (R-California) – ‘H.J.Res. 72: Relating to the disapproval of the proposed foreign military sale to the Government of Kenya of Air Tractor aircraft with weapons, and related support’ (14.02.2017)






Just as the world is looking for another political process to end the ongoing war in South Sudan, the brutal and ruthless Juba regime has once again intensified its atrocious, ferocious and egregious abuses against the people of South Sudan. The ongoing mass killings, rapes, destruction, arbitrary arrests and displacement of people in and around Kubi in Oponi County of Eastern Equatoria State (CES) and Unity State is a stark reminder and a clear indication to the people of South Sudan, the African Union (AU), United Nations (UN) and indeed the international community that the Jieng Council of Elders (JCE) as an executive arm of the Juba regime under Mr Salva Kiir Mayardit is more than ever committed to exterminating non-Dinka communities.
At the same time, the same brutal and ruthless Juba regime has now escalated its all-out and nationwide dry season offensive by burning down villages and attacking SPLA-IO positions and bases throughout South Sudan. In the afternoon of yesterday February 15, 2017, the Juba regime attacked the gallant SPLA-IO positions and bases in and around Jur River, Western Bahr el Ghazal State (WBS).
In response, the gallant SPLA-IO forces pursued the aggression and overran Nyinakok of Jur River in Western Bahr el Ghazal State (WBS). The fighting of yesterday Wednesday February 15, 2017 at 1:30PM left fifteen (15) soldiers, including three (3) officers, died. Following the intense fighting, the Luo young men and women that the Juba regime had apparently mobilised as vigilante groups and counterinsurgency units were eventually forced to join the gallant SPLA-IO forces in pursuit of the defeated and desperate Juba regime soldiers.
Indeed, Nyinakok and the entire Jur River are now under the full and complete control of the gallant SPLA-IO forces. In the same afternoon of yesterday Wednesday February 15, 2017, a squad of fifteen (15) Juba regime soldiers under the command of Capt. Simon Lam Yuol Joker and Sgt Gai Muot (MO) abandoned its Raja base and reported to the nearby SPLA-IO base in and around Raja, Western Bahr el Ghazal State (WBS). With them were two (2) PKM, one (1) RPG in addition to their individual AK47.
With the ongoing mass defection of Juba regime soldiers to the gallant SPLA-IO, the people of South Sudan have understood why South Sudan is not at all the property of the Jieng Council of Elders (JCE) and why the Juba regime must go now rather than later. Therefore the SPLA-IO would like to one more time remind the African Union (AU), the United Nations (UN) and indeed the international community that the Juba regime is the problem, a threat to peace and stability in the region and hence must be isolated for peace and stability to return in South Sudan.
By Col. William Gatjiath Deng
Spokesperson for SPLA-IO

«Europarådets anti-korrupsjonsorgan GRECO har laget en ny rapport om korrupsjon i nasjonalforsamlinger, domstoler og påtalemyndighet i Norge» (Regjeringen.no, 2017).
Det er alvorlig når man kommer med råd og formulerte initiativ at det rådgivende organ og representanter for befolkningen ikke tar å følger dette opp. Det er dette som skjedd etter som Europarådets Anti-Korrupsjonsorgan GRECO gav råd til Stortinget om oppfølging og legge til verks systemer som viste mulige konflikter og andre mulige hendelser som kan skape grobunn for korrupte statsmenn. Derfor burde Stortinget og deres representanter tatt nødvendige grep og tak for å rette dette opp. Dette handler om etiske og fundamentale retningslinjer som enhver representant burde stå til rette for. At en ikke er kjøpt og betalt av tredjepart eller har forbindelser som gjør seg knyttet til saker og revidering av lovverk. Derfor er kritikken av manglende eller ufullstendig utbedring av dette kritikk-verdig av den Norske stat og Stortinget som helhet.
«De fire anbefalingene som ble gitt til Stortinget kan kort oppsummeres slik:
1.Videreutvikle Stortingets etiske retningslinjer slik at de bl.a. bedre bidrar til å hindre interessekonflikter, klargjøre reglene mht. gaver og kontakter med tredjeparter.
2.Innføre et system for varsling/avklaring av mulige interessekonflikter.
3.Videreutvikle Stortingets register for representantenes verv og økonomiske interesser.
4.Iverksette tiltak for å sikre tilsyn og gjennomføring av plikten til å varsle Stortingets interesseregister og oppfølging av de etiske retningslinjene.
Anbefaling nr. 4 ble ansett som gjennomført, og anbefaling 1 og 3 ble ansett delvis gjennomført. Anbefaling 2 ble ikke ansett gjennomført. For ytterligere opplysninger» (Regjeringen.no, 2017).
At en ser at en av fire anbefalinger er blitt gjort noe med på tre år, så kan en spekulere at Stortingsrepresentantene er redde for offentliggjøring av både gaver og kontakter med tredjeparter som kunne skape skepsis til deres egen håndtering av saker som representanter. Dermed, har de i stillhet ikke tatt tak i dette. At en ikke har innført system for interessekonflikter kan vises til hvordan man kommer fra lobbyister eller bedrifter innen visse fagfelt for så å bli ministre, slik som vi har hatt ministre fra Oppdrettsnæringen som har vært landbruks- og fiskeri minister. Da de fortsatt har hatt verdier og aksjer i større foretak som driver med dette. Det vil og naturlig skape interesse konflikt ved visse reguleringer og lovgiving som blir utført, mens person sitter som minister.
«Korrupte handlinger kan bli begått i norske kommuner. Oftest tenker vi på at enkeltpersoner har gjort noe ulovlig eller upassende, ved å utnytte sin posisjon til å oppnå fordeler eller gi fordeler til andre» (…) «Vi sier ikke at hele kommunen dermed er korrupt. Det var den utro tjeneren som sviktet, mens kommunen for øvrig er «ren», tar avstand fra slike handlinger og sørger for å rydde opp» (Dølvik, 2016).
At en ikke har videreutviklet register for verv og økonomiske interesser viser hvor lite Stortingsrepresentantene vil være inhabil eller andre grunner for sine veivalg, enn det beste for befolkningen. Da vil sin egen lommebok være mer viktig enn det reelle utfordringer eller bestemmelser som blir tatt. Da kan også disse verv og økonomiske interesser bli brukt i forhandlinger og som støttespillere for videre lovgiving og mulige statelig innkjøp. Derfor bare med muligheten og mangel på innsyn viser at de vil ikke komme frem med de faktiske tilknytninger som de kan ha ellers i samfunnet.
Det viser at en kan lett få frem viktigheten av etiske rammer, men å gjøre det aktive er selv vanskelig for våre egne Stortingsrepresentanter som ikke vil direkte åpenlyst vise frem gaver eller penger som de har fått av givere. De har heller ikke klargjort reglene med tredjeparts gaver som kan skape interesse-konflikter for den som får dette. Da vil det i realiteten være mulig å gi en konvolutt uten å måtte gjøre for denne gaven.
At en ikke har fullført et register for interesse-konflikter viser hvor lite tiltro til sin befolkning våre Stortingsrepresentanter har, at de er redd for å vise sine andre roller og andre verv for befolkningen. De er redde for å vise sine sanne posisjoner og vennekretser. Der de har muligheter og knytter nettverk som tjener de både nå som representanter, men også i etter deres tid i parlamentet.
Dette viser at det er åpne hull og åpner for muligheter blant våre representanter som ikke er korrekt eller burde være der. De burde i sammen med Stortingspresidenten og andre komiteer sette foten ned og se seg fore for å fikse, justere og legge vekt på at de skal være foran når det kommer til lovlydighet og rett håndtering av statsforvaltningen. Dersom dette er feil, bør de iverksette sine organer og sine tillitsvalgte, sine apparat og sin struktur slik at dette kan gjøres om. Fordi så lenge det er mulig for tillitsbrudd, korrupte handlinger og avtaler gjort bak lukkede dører. Så vil dette skape et tillitsbrudd som ikke kan rettes opp igjen. Da vil også tilliten til Stortinget falle. Noe Stortinget og de som representerer det høyeste organ ikke har råd til å miste. Peace.
Referanse:
Dølvik, Tor – ‘Kronikk: Korrupsjonsranking – en idé også i Norge’ – Kommunerevisoren nr. 4/2016 – 71. årg.
Regjeringen.no – ‘Rapport om korrupsjon i Norge’ (15.02.2017) link: https://www.regjeringen.no/no/aktuelt/rapport-om-korrupsjon-i-norge/id2539057/

The Governor Dr. J.P. Mangudya Zimbabwean Reserve Bank writes a special piece on the Zimbabwean economy, not as bleak as the one Finance Minister P.A. Chinamasa wrote in mid-year report of 2016. The Monetary Policy Statement (MPS), of January of 2017, as still evident of the issues in the Zimbabwean economy. With the knowledge of the debt-burden that has arisen together with the suspended international loans, the state funds has funds dwindled. Also, the monetary and fiscal prudence has been weakening as told by the governor of the Reserve Bank. The Governor even called the Zimbabwean Economy an “albatross”, the rest of it says it all.
Zimbabwean economy needs to catch up:
“The positive spin-offs from the recent removal of Zimbabwe from the International Monetary Fund (IMF) remedial measures, following successful clearance of its arrears to the Fund in October 2016, are also expected to go a long way in reducing Zimbabwe’s country risk, thus attracting the much needed foreign investment. Completion of the clearance of external debt arrears to the rest of the international financial institutions – African Development Bank (AfDB), World Bank and European Investment Bank (EIB) – is expected to further reduce the country’s debt burden that continues to be an albatross on Zimbabwe’s access to foreign finance for the past 16 years now at a time when other emerging markets have been making tremendous strides in their economic transformation. As a consequence, Zimbabwe has lagged behind and needs to catch up with its peers” (Mangudya, P: 6-7, 2017).
Reactions to drought:
“In 2016, food imports (maize and wheat), however, surged owing to the El Nino induced drought that destroyed crops in the Southern African region, including Zimbabwe. Continued reliance on imports of finished goods is unsustainable as it undermines current efforts to resuscitate domestic industrial production, leading to significant trade and current account deficits” (Mangudya, P: 15, 2017).
Other key development:
“Driven by merchandise trade developments, the current account deficit is estimated to have narrowed down by about 15.5%, from a deficit of US$1,519.4 million in 2015, to a deficit of US$1,283.9 million in 2016, partly on account of the projected decline in the import bill. Remittances, which are also a major source of import financing declined by 17.9% in 2016, from US$1,917.7 million received in 2015 to US$1,574.0 million in 2016. Of the total amount received in 2016, US$779.0 million reflects remittances from the Diaspora while remittances from International Organizations (NGOs) amounted to US$795.0 million” (Mangudya, P: 16, 2017).
Problematic government loans:
“Reflecting developments on both the current and capital account, the overall balance of payments position is estimated to have deteriorated from a deficit of US$25.8 million in 2015 to a deficit of US$186.4 million in 2016. This phenomenon reflects an unsustainable economic situation of funding capital projects using loans as opposed to equity. The danger with this scenario is that debt would become unsustainable as exports are mortgaged towards debt repayments” (Mangudya, P: 19-20, 2017).
Unbalanced economy:
“The fact that the 14.4% of the country’s foreign receipts handled by RBZ for redistribution into the market seems to have more impact in the economy is a sign of market failure. The Bank shall quickly move to redress this market failure through measures that compel banks to adhere to the import priority list and to mitigate against institutional indiscipline such as the use of more foreign exchange for personal card and DSTV transactions ahead of raw materials to produce cooking oil, for example. Financial institutions should do some soul searching and rethink on how they add value to the economy under the New Normal” (Mangudya, P: 67, 2017).
Bond- Notes introduction:
“The Bank is encouraged by the manner in which the nation embraced bond notes. The Bank has to date issued $94 million of bond notes into the market against an aggregate value of the export incentive of $107 million. Whilst the circulation of the bond notes represented by levels of deposits and withdrawals is also encouraging, the Bank is putting in place a redistributable measure that mitigates against skewed concentration of bond notes within the banking sector by limiting the maximum amount of bond notes that each bank should hold at any given point in time in relation to its level and type of transactions. This measure is necessary to ensure that bonds notes are distributed proportionately according to the customer base or customer profile of each banking institution” (…) “The Bank is directing financial institutions to strictly observe the policy to deposit bond notes into the US$ accounts without requesting the banking public to differentiate between bond notes and US$ cash. This measure is essential to ensure that bond notes continue to trade at parity with the US$ and to reflect the fact that bond notes are supported by the US$200 million offshore facility to support the demand for foreign exchange attributable to bond notes” (Mangudya, P: 67-68, 2017).
When you see this numbers alone, there would be more meat in the report that says lots of the downfalls of the economy. The Governor said the fiscal issues and debt, together with the lacking of imports and exports, the short and less infused funds. With that in mind, instead of pounding on the troubled economy, we should rather enjoy a moment of explanation of why albatross is so dire:
“something or someone you want to be free from because that thing or person is causing you problems” (Cambridge Dictionary) and this one too: “a continuing problem that makes it difficult or impossible to do or achieve something” (Merriam Webster Dictionary). So the Albatross for the Zanu-PF is the economy, even as they eat of it and deplete it. However, the turbulence and insecurity isn’t over as the trust in the Bond-Notes or the other factors as the New Normal isn’t giving. Peace.
Reference:
Dr. J.P. Mangudya – ‘“Stimulating Economic Growth and Bolstering Confidence”’ – Monetary Policy Statement, Reserve Bank of Zimbabwe (RBZ)

In the nation under President Jacob Zuma and African National Congress (ANC) there been done some shady dealings between government and private industry, this has been happening over years. Now the Financial Market and Banks have internally been agreeing on values and exchange rates on the South African Rands (ZAR), this is a luxury where the banks have set fixed prices and values. That in the end has given profits and sold the Rand on the open market. This in mind with the fixing and securing more profits for the banks as they we’re trading the currency on the open market. Also, to foreign investors and currency traders that try to make a profit on exchange and selling currency back again at a later date.
So this sort of financial manipulation has made sure for the 17 banks that have made agreements between the banks and communication that most likely paid more for the rand or more used more dollars for getting the South African currency. As proven with the statements of the Competition Commission and the South African Reserve Bank, however, the trial and the review will continue to shed light on the possible internal-trade in the financial business of the Republic.
The opening of review of Forex exchange of the Rand:
“The Competition Commission has today referred a collusion case to the Tribunal for prosecution against Bank of America Merrill Lynch International Limited, BNP Paribas, JP Morgan Chase & Co, JP Morgan Chase Bank N.A, Investec Ltd, Standard New York Securities Inc., HSBC Bank Plc, Standard Chartered Bank, Credit Suisse Group; Standard Bank of South Africa Ltd, Commerzbank AG; Australia and New Zealand Banking Group Limited, Nomura International Plc., Macquarie Bank Limited, ABSA Bank Limited (ABSA), Barclays Capital Inc, Barclays Bank plc (Respondents). The Commission has been investigating a case of price fixing and market allocation in the trading of foreign currency pairs involving the Rand since April 2015. It has now referred the case to the Tribunal for prosecution. The Commission found that from at least 2007, the respondents had a general agreement to collude on prices for bids, offers and bid-offer spreads for the spot trades in relation to currency trading involving US Dollar / Rand currency pair. Further, the Commission found that the respondents manipulated the price of bids and offers through agreements to refrain from trading and creating fictitious bids and offers at particular times. Traders of the respondents primarily used trading platforms such as the Reuters currency trading platform to carry out their collusive activities. They also used Bloomberg instant messaging system (chatroom), telephone conversation and had meetings to coordinate their bilateral and multilateral collusive trading activities. They assisted each other to reach the desired prices by coordinating trading times. They reached agreements to refrain from trading, taking turns in transacting and by either pulling or holding trading activities on the Reuters currency trading platform. They also created fictitious bids and offers, distorting demand and supply in order to achieve their profit motives” (CompCom, 2017).
South African Reserve Bank statement:
“The South African Reserve Bank (SARB) has noted today’s announcement by the Competition Commission South Africa (Competition Commission) that it has completed its investigation initiated in April 2015 and has referred to the Competition Tribunal for prosecution a case of price fixing and market allocation in the trading of foreign currency pairs involving the South African Rand (ZAR)” (…) “The rand is a globally traded currency. Some 30.0% of daily turnover in the ZAR takes place in South Africa, and turnover with non-residents accounts for 57.5% of domestic turnover. Figures published by the Bank for International Settlements indicate that for the month of April 2016, the daily average worldwide turnover in the foreign exchange market involving the ZAR was approximately USD49.0 billion. This represented 1% of total turnover in the international foreign exchange markets” (…) “The SARB sees the allegations in a serious light. The SARB will allow the legal processes now initiated to run their course, and will continue to monitor developments closely to inform any action that we may need to embark upon in accordance with our mandate and jurisdiction” (SARB, 2017).
So we can now wait and see what the efforts and effects. If this can hit the currency and its value, if this has been a fix to juice it up or even put in a bubble where the banks has earned profits on illegitimate transactions as the communications between the banks has set standards of the prices and expenses, so the costumers and businesses has overpaid for the currency in trading. This proves that the greed and coins goes together. The banks of South Africa ceased an opportunity and grasped it.
We have to see when the Competition Commission of South Africa releases their report and their conclusions as the review and the findings of colluding will be put in court. However, the world gets to see the internal trading and agreements between the banks to fix the prices of currency, especially the value of the South African Rand (ZAR). Therefore the release of information on how they fixed it and how they speculated on it, will show how banks did this. Trust this, the report and the papers on this financial transactions and agreements will be juicy and show the inner-works of the banks. That is knowledge that the Republic of South Africa deserves, as these people and professionals are the ones making sure the monies are used and taken care off. Peace.
Reference:
South African Reserve Bank – ‘SA Reserve Bank Notes Competition Commission Decision’ (15.02.2017) link: https://www.resbank.co.za/Lists/News%20and%20Publications/Attachments/7681/SARB%20statement%20on%20Competition%20Commission%20announcement.pdf
The Competition Commission South Africa (CompCom) – ‘Breaking News: Competition Commission prosecutes banks (currency traders) for collusion’ (15.02.2017)