What is the cost of your compliance strategy?

What is the cost of your compliance strategy?

We now live in a highly litigious society. No leader can afford to delegate their obligations in the contracts they sign. If you are one of the signatories, you must have the time to read all the details. You are your best lawyer! The case of the major telecom company that woke up in the red by over US$ 1.671 billion shareholder value loss is a proof that compliance risks must dominate Board room Agenda. Indeed, the primary role of the Board of Directors is going concern (strategy); and oversight (risk management and compliance).

Cash to your business is like blood […] Read more

News briefs 21/7 2014. Rwanda: The new edge of China’s industrial expansion

China, a fast growing country with many investments allover Africa is now eyeing Rwanda as the next potential investment area.

C&H, a Chinese garments company announced its plans of setting an investment in Rwanda worth $10million in the five years to come.

The company is set to build a local textile plant in the Kigali Special Economic Zone.

Miss Helen Hai, one of the proprietors of C&H Garments Company said the company will offer a total employment to 200 workers by September 2014.

Rwanda is hoping Chinese companies will invest in its budding manufacturing sector and help expand the export base beyond tea, coffee, […] Read more

MTN Uganda CEO Mazen Mroue’s Three Keys for Your Career Success

MTN Uganda CEO Mazen Mroue’s Three Keys for Your Career Success

The recent MTN Business training sponsored by MTN Uganda for entrepreneurs in Eastern Uganda was a huge success. The training attracted 152 entrepreneurs way beyond the intended 100 – indicating too much desire for knowledge by the business community in Eastern Uganda.

The one day training covered critical topics of internal controls, cash flow management, value creation and preservation, taxation and using the Internet to grow your business. It took place at Mbale Resort Hotel. During his closing remarks, Mazen Mroue, the MTN U top honcho explained the following three insights for your success in career and business:

Successful at home

“If you […] Read more

How to succeed in 2016?

How to succeed in 2016?

Make priorities, not resolutions, because change is a fact of life!

a) First, do not make resolutions. They are abstract. Make a list of 2-4 priorities. Then write an action plan to attain the priorities. You need an action plan to make it happen. If you want to get a new job, go visit the company. Speak to a staff already there!

b) Form a support group of peers and keep them close. You need 2-3 people whom you trust who can hold your feet down on the fire.

c) Pay yourself first. For any income you make, remove 10-20% for savings. Do […] Read more

WinningMindset: Education

WinningMindset: Education

What kind of message do you tell them as they go to school?

Be careful with what you say to your children, it may end up becoming true.

Tell your children to look for the following from school:

a) Acquire intellectual firepower. Advise your children to read all the pages and words in the books. Where possible, read ahead of the syllabus. Read different books in the library – both fiction and non-fiction, regardless of your class. You will widen your intellectual fire power. And that is the difference you need to excel.

b) Improve on your self-esteem. Try to fail. School is the […] Read more

Succession planning: easy to say, tough to do

Succession planning: easy to say, tough to do

“If you don’t have a successor, you are very poor indeed.”

1. Succession planning is a tough call in Uganda, as it is elsewhere

2. Even multinationals, they prefer to bring in a CEO from another country instead of promoting the local staff. Why? Nurturing talent requires two things: first, loyalty and second, trust. Without the two, few business owners and or CEOs are ready to invest in anyone however competent (skilled and experienced) they may be!

3. In addition to a strategy and a strong internal culture for empowering staff, succession planning thrives on integrity and good morals.

4. Where do you find […] Read more