One of the popular sayings, attributed to a Chinese General, is “Never start a war you cannot win.” If you are 100 meters runner, do not join a marathon race which you know you cannot win. This means, to succeed in any endeavor you set out to do, research and about some information before you do it. And they practice. Evaluate your odds of success. Focus on joining competitions that you can win. Do not apply for a job in which you have not understood the company, the key officers who have the decision to accept or reject your application…
The common bank fraud schemes amind #covid19 lockdown, be aware, part 1
If you operate a bank account that has some money, you could be a target by cybercriminals. Many times, cybercriminals work closely with people who work in your company. Others could exploit your poor cyber hygiene and weak computer security measures in place. Either way, once your network and system security are compromised, there are many ways a hacker has to get money from you. We call it ‘monetizing the cyber breach.’ This is achieved in several ways: Ransom payment request. Hackers could access your mobile phone or laptop, and by chance find confidential information like private photos, or personal…
A CEO’s Internal memo at home following #COVID19 lockdown
Note: In the context of the family setting, staff are the children. The personal assistant is the wife and the HR officer is the house helper. The shareholders are the Parents and all family members and relatives. The stakeholders are the family friends, neighbours and community The CEO’s Internal Memo after two weeks of lockdown is below. From: CEO To: All Staff Date: 14th April 2020 Subject: COVID19 pandemic profit warning Covid19 is a significant event for our generation. The pandemic has disrupted our way of life and it is not relenting yet until a vaccine or cure is found.…
How COVID-19 Liquidity Shock Threatens Uganda’s Financial System
Bank Financial Risk Managers in the past 12 years have been the busiest bunch recovering from the aftermath of the financial crisis of 2007-2008. These particular effects have brought about the adoption of more robust and prudent credit risk models such as the prominent International Financial Reporting Standards 9 (IFRS9) that was fully adopted in Uganda in 2018. However, these models are not cover enough when the economy is threatened to collapse in the shortest time possible. Download the Whitepaper on How COVID-19 liquidity shock could collapse the local financial system While this lockdown has not restricted banks from carrying out…
Why COVID-19 poses a bigger threat to existence of SME’s than the Financial Crisis of 2007-08
In 2008, a top investment bank the Lehman’s Brothers along with a number of financial managers and institutions collapsed following depreciation in the subprime mortgage market of the United States consequently leading to an international banking crisis. A number of top firms sought bailout to survive this crisis. Download a White Paper on Why COVID-19 poses a bigger threat to the existence of SME’s While this crisis threatened the world financial system as analysts speculated a consequent collapse, there was still coverage being provided by a number of sectors. The liquidity bubble was mainly a problem of financial service providers. Contrary…
A time for leaders to emerge
Leaders emerge during tough times, so goes the saying. All businesses and economies are facing a tough enemy with a loaded gun ready to fire. #covid19 is that enemy. No time to negotiate. You must follow the enemy’s instructions else you perish. And the instruction is #socialdistancing to reduce many cases of people infected with the virus so as not to overwhelm the health systems. The stay at home and economy lockdown orders are aimed at reducing the spread. But when will all this end and business resumes back to normal. Only if the cure is found or the vaccine,…
