Uganda Telecom last week donated food and scholastic materials to Gulu Primary School for the Blind worth Shs 8 million. The donation was made during the Big Blue Customers Re-union festival. Utl's Communications Manager, Mark Kaheru thanked the school administration for keeping up the school's standards. The school was built in 1914 by the Church Missionary Society. It has 1029 students, including 60 blind students.
KCB hits 200 branches
Kenya Commercial bank (KCB) last week opened officially its 200th branch in the EA region. The new branches were opened concurrently in Juba, Southern Sudan and Kigali Rwanda. KCB Group Chief Executive, Martin Oduor-Otieno said during the opening of the Sudan branch, the milestone reflected the bank's commitment to taking financial and banking services closer to the marketplace. "To operate 200 branches in five countries is a milestone for the bank and a big statement on the direction the business will take as a leader in financial intermediation in the region," said Odur. KCB now has a presence in Kenya, Uganda, Tanzania, Rwanda and Southern Sudan.
AIG introduces ransom insurance
The American International Group AIG (U) will in a few weeks to come unveil its Kidnap, Ransom and Extortion insurance policy after government approval.
Kidnap for ransom is estimated to be a Shs24 trillion ($13 billion) business in Africa and South America where the vice is rife. Business executives and relatives of high profile people are targeted by criminals in return for huge sums of cash.
The new product, the first of its kind on the Uganda insurance market, will be extended to business executives and members of their families, prone to being kidnapped for ransom.
UAP launches crop insurance
UAP Insurance has launched a crop insurance product that will compensate farmers for seeds, fertilisers and chemicals used in the planting season if the harvests are not adequate. UAP Insurance has partnered with Syngenta Foundation for Sustainable Agriculture, which works to improve the lives of small-scale farmers.
The foundation will provide the seeds, fertiliser and chemicals. Both companies have invested in special weather stations that use satellite technology to monitor the amount of rainfall received in each area. The stations record rainfall after every 15 minutes and can be monitored remotely from computers.
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