Zain last week signed a partnership agreement with DSTV under which all Zain clients who subscribe to DSTV will no longer need to pay cash at the DSTV counters. Instead, they will use the Zain ZAP money transfer services on their phones to settle their accounts at no extra charge from Zain.
On paying via ZAP, ones account is updated and in a matter of minutes one gets a confirmation message of receipt of payment. At DSTV, the paying client's account is automatically updated and immediately reconnected in case it had been disconnected.
United Bank for Africa shuffles staff
The United Bank for Africa, last week made a number of changes in its senior positions. The UBA Uganda CEO Anthony Maliro, becomes the Chief Credit Officer, while Clinton Mawanda, has been appointed head of corporate communications/branding and marketing. Ricson Kiiza, who has been the head of risk and compliance, becomes the head of product sales, pending approval by the bank of Uganda. Edward Ssenyonjo, who has been the assistant head of risk and compliance, will now head the department. Margaret Mwanakatwe the UBA MD said, the changes are aimed at consolidating the bank's gains over the last two years of its existence in Uganda and positioning it for the next phase of market expansion.UBA Uganda recently got a capital injection of $4 million from the UBA Group to boost the bank's operations in the country. During the reshuffle, some 30 staff lost jobs.
Tirupati to build Agricultural park
After recently wining the regional Nobel and Competitive Product Award in the large size category investments, awarded by the Uganda Investment Authority, the Tirupati group has embarked on a US$20 million agricultural park at Namanve. The real estate developer said the park will operate as commodities exchange and will eliminate middle men who are responsible for the high food prices.
The agricultural park will have banks, cold storage facilities, restaurants and will accommodate over 20,000 people. It will be the biggest market in the East African region.
Shoprite exiting Indian market
Africa's biggest grocer, the Shoprite Holdings, is selling its sole supermarket in India to the Future Group that runs India's largest listed shopping chain, Pantaloon Retail. The Indian group is buying the 6500 square feet Shoprite outlet at a Mumbai mall along with its employees to set up a food store. The South Africa based Shoprite is said to have called off its franchisee deal with Indian real estate developer Nirmal Lifestyle Group, which owns the mall where the supermarket is located. News wires quoted Kishore Biyani, the chief executive of Future Group, as saying "We are currently in talks and I do not want to comment on anything further."
Equity Bank increases ATM card security
Equity Bank has acquired the Europay-Mastercard-Visa (EMV) technology to boost its banking security. The new system is installed in the bank's ATM outlets and points of sale.
The new EMV card technology will enhance the protection of card holders from fraudulent card activity and substantially reduce the percentage of fraud.
Equity bank CEO James Mwangi told the media in Nairobi that "card security is a major issue worldwide that could no longer be ignored.
There is a need by banks to install new security standards practiced worldwide to protect customers from unscrupulous people.
"With the new technology, the bank will process and manage Visa cards with the EMV chip at all its outlets and points of sales seamlessly by accepting card and pin, without the need for customers signing on receipts as is the case at the moment.
The Cardholders have the additional benefit of withdrawing (cash back) from retail outlets after purchases.
UNBS defends anti-counterfeit operations
Following an ongoing operation by the UNBS to rid the market of substandard goods, traders are complaining that the UNBS is targeting them and confiscating their goods. The Uganda National Bureau of Standards has said their inspectors check the quality of certain categories of goods as they are imported into the country to ensure that they conform to quality and safety standards. "UNBS mainly targets high risk products, which can adversely affect the health and safety of consumers or are detrimental to the environment", said the head of Imports at the UNBS. The high risk products category includes food products, building materials, electrical products, chemical products and others. Through its Imports Inspection Scheme, UNBS has intercepted more than 5,000 consignments of fake and substandard products worth more than $50 million.The impounded products have either been destroyed or re-exported. In spite of the rigorous inspections, fake items have continued coming into the country through various illegal means and are threatening to flood the Ugandan market.
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