Don’t take the children growing in the ghettos lightly. They are potential future presidents. They are the real rags to riches stories. Few rich people become really exceptional. May be they lack the attitude to persist, to want to succeed so badly. Upper class children are always out of touch with the reality and tend to disconnect with the common man. They grow in an easy life – no fetching water. The maid handles everything. No real exposure to the vagaries of the street life as they are always safely tucked in cars as they ply to school. They have…
From Cryptolocker to Wannacrypt or Wannacry. It’s has been around for long…
The world has been under attack since 12th May 2017. A ransomware attack that started hitting developed countries from Europe, to America and spread through to Asia, India, Japan and China, has heighted the debate over cybercrime, internet regulation and cybersecurity readiness. The WannaCry, a short for WannaCrypt ransomware, has locked thousands of computers in more than 150 countries. Users are confronted with a screen demanding a US $300 payment to restore their files. Because the only patch for human stupidity is on-going awareness training, and the fact that most people are lazy at not only attending and concentrating during…
IMF lowers Uganda’s economic growth forecast
Uganda’s economy will grow at 3.5% for the financial year ending June 30th 2017 according to the recent International Monetary Fund (IMF) report. Uganda’s economy was estimated to grow at 5% for the FY 2016/17. Due to the prolonged drought and slow private credit growth in the second quarter of 2017, it brings the economic forecast down to 3.5% from the earlier 5%. According to IMF, the improving weather conditions could still push the economy reach the previous economic forecast of 5%. Headline inflation currently stands at 6.8%, and core inflation at 4.5%. The government also says it needs to…
Killer Analytics wins big at Transform Africa Summit 2017
Killer Analytics, a Ugandan tech start-up, was named the winner of the ‘Face the Gorillas’ competition at the Transform Africa Summit held in Kigali, Rwanda. The event that was concluded on 12th May 2017 saw a host of many start-ups compete for the same prize. Killer Analytics, with their solution ‘Smart Credit’ thus emerged the best. The company, led by Fred Otim offers a software platform that analyses and processes SME transactional data to individualized credit data and financial statements. Killer Analytics team received Ugx360m investment at the Summit. Platforms like Smart Credit if adopted will improve business sustainability…
BATU’s profit declines by 20% in 2016
On 10th May 2017, British American Tobacco Uganda (BATU), the makers of Safari and Sportsman cigarettes, reported a 20% decline in its net profits to Ugx 7.8 billion in 2016 down from Ugx 9.8 billion in 2015, hurt by a 7% and 13% decline in cigarette volumes and revenues respectively. At its 17th Annual General Meeting (AGM) held on Wednesday 10th May 2017, the board of directors recommended a final dividend of Ugx159 per share which was absconded by the company’s shareholders at the same AGM. Mr DadsonMwaura, the BATU managing director noted that “despite the decline in profits, the company’s…
Massive cyberattack targeting 99 countries
Hospitals, major companies and government offices have been hit by a massive wave of cyberattacks across the globe that seize control of computers until the victims pay a ransom. Cybersecurity firm Avast said it had identified more than 75,000 ransomware attacks in 99 countries, making it one of the broadest and most damaging cyberattacks in history. Avast said the majority of the attacks targeted Russia, Ukraine and Taiwan. But U.K. hospitals, Chinese universities and global firms like Fedex (FDX) also reported they had come under assault. Europol said Saturday that the attack was of an “unprecedented level and requires international investigation.” The ransomware, called “WannaCry,”…
