Most of the time, we want to remove our feet from the fire. Our minds are configured to look for easy life. Anything that requires some persistence or effort, we want to run away from it. The setup of the human nerve and sensory systems are to alert the brains of any danger and take off away from them. That is true when it comes to hard work. It therefore requires deliberate effort and special conditioning to persevere. When you step onto a hot stone, you want to quickly remove your feet. Just like when you step into fire, you…
Insurers asked to embrace whistle blowing to curb fraud..
Mr. Mustapha Mugisa a fraud and forensic expert making a presentation on ‘Rethinking Insurance-Beyond Business as usual’, at the CEO’s Breakfast meeting last week at Serena Hotel, Kampala. Insurance companies have been asked to embrace anonymous whistle blowing to manage risks of fraud and offer enterprise risk solutions to their clients. This was echoed by Mr. Mustapha Mugisa, a fraud and forensic specialist at the 34th Chief Executive Officers’ breakfast meeting held at Serena Hotel. Mugisa said, “About 5 per cent of revenue collected by insurance companies is lost in fraud. Fraud activities are taking place in the minds of…
Using Data Analytics to detect Fraud
Mustapha B Mugisa, spoke at the Institute of Internal Auditors Uganda on the topic, using Data Analytics to detect Fraud. Read about the speaker introduction and topic highlights. Making sense of big data, is the best skill you will ever master. Using Data Analytics to Detect Fraud Fraud by its nature is hidden. Unlike theft, where a stolen item can easily be detected as it will be missing. Fraud involves manipulation of records and burying it deep in the data. As an auditor, you need special skills and tools to be able to detect fraud. And that is…
How to transform your NGO in these tough times
Sustaining an NGO requires mindset change, where leaders think business wise. You are not sustainable if you have to first beg in order to serve your beneficiaries. NGO sustainability is the ability to continue its core activities even without local or international donor funding. Many NGOs now look at sustainability in the context of being free from international donor funding. That is half the picture. Do you have sustainable revenue streams to deliver your mandate and satisfy your beneficiaries’ without recourse to donors? Can your NGO pass the sustainability test? Do you have the six building blocks of NGO success?…
Growing the topline
Customer focus is critical to enable topline growth. A business is about putting money on the table. How do you grow your revenue daily? How does a company ensure growth of revenues while lowering costs? If you are not selling, chances of going into cash flow challenges are high. Most businesses fail due to lack of sales growth. Even if you cut costs, there reaches a time where you cannot cut costs any further without closing the business. That is why focusing on revenue growth at the beginning is the best strategy. The first line, 1. Turnover is the topline.…
The Law and you
The L in the PLANTS is a key pillar for your career success. The Ugandan society is increasingly becoming litigious. You are your best lawyer. As you succeed or grow, you will knowingly or unknowingly step on some people’s toes. Many won’t let it lie down. You will most likely receive intentions to sue. Some people may deliberately come into your life with intention to benefit from you. You need strong mastery of the law. The second most important document you must read from cover to cover after the Bible is the Constitution of the Republic of Uganda. This document defines…
