Express’ Charles Mutima (right) and URA Captain Shafic Kajimu (left) in action on TuesdayStarTimes Uganda Premier LeagueExpress FC 0-0 URA FCMutessa II War Memorial Stadium, WankulukukuTuesday, 0210-2018Express and URA played out a goalless draw in one of the four fixtures of the StarTimes Uganda Premier League played on Tuesday afternoon.The game saw limited goal mouth activities with the most happening in the last 40 minutes of the encounter.Before kick-off, the game was delayed for 30 minutes as Express failed to provide the mandatory security required before kick-off.The game finally kicked off one minute past five o’clock with no worthy action taking place in the first ten minutes.On 13 minutes, URA striker Peter Lwasa powered his way into the Express penalty area but his low cut-back was deflected out for a corner. The resultant corner was comfortably dealt with by Tony Kyamera in the hosts’ goal.Seven minutes later, Saidi Kyeyune tried his luck from distance but could only look on as his shot sailed over Kyamera’s goal.Express’s first chance of the game came on 23 minutes when striker Eric Kambale received a short pass from Micheal Birungi and turned before shooting tamely at Alionzi Nafian in the Tax Collector’s goal.With one minute of the first half to play, Lwasa raced down the right and unleashed a fierce low drive that was saved by Kyamera who ensured the half ends 0-0.At the start of the second half, URA coach Sam Simbwa made a double substitution, bringing on Moses Sseruyidde and Budallah Nyanzi in place of Saidi Kyeyune and Robert Mutakubya respectively.On 48 minutes, Ibrahim Kayiwa who had been silent all afternoon got his first sniff of goal, unleashing a powerful drive which was punched away by Alionzi.A minute later, Express also made a substitution of their own, taking off the ineffective Badru Nsubuga and introducing Davis Mayanja.On the hour mark, Kayiwa gain tested Alionzi, this time heading straight at the custodian following a cross from left back Disan Galiwango.Moments later, Simbwa made his last substitution taking off the seemingly tired Vitalis Tabu and replacing him with Mathew Odong.On 63 minutes, Kefa Kisala also made another sub, introducing Mubarak Nsubuga in place of Birungi.Moments later, Nsubuga made instant impact as he ran down the left and passed for Mayanja who teed up Kayiwa to shoot off a defender and the ball went out for a corner. From the resulting corner Shafic Kaketo headed Galiwango’s cross agonizingly wide of the target.Express looked to be asking more of the questions in the second half and on 71 minutes, Tony Odur missed a golden chance to put the hosts ahead as he headed straight at Alionzi following a teasing cross from Mayanja.With time running out, the referee produced two yellow cards, first to Galiwango and another to URA midfielder Siraje Ssentamu.Deep into additional time, Express got one final chance to win it but Kambale headed wide another Galiwango cross.The result takes URA into second in the log, two points behind leaders Vipers SC who defeated Maroons 2-1 on the same day.Express who have a game in hand remain in the bottom half with one point from as many games.Other results from Tuesday’s games:-KCCA FC 0-0 Kirinya JSS-Maroons 1-2 Vipers SC-Bul 0-1 Tooro UnitedComments Tags: Express FCStarTimes Uganda Premier LeaguetopURA FC
Up to four people involved in supported projects also have the opportunity to qualify for an annual stipend of up to R60 000 for two years. “Technology innovation is a prerequisite for continued success and sustainable growth and development,” Mkhosi said. 3 September 2012 Young South African entrepreneurs now have access to funding and assistance through the Youth Technology Innovation Fund, which was launched by the Technology Innovation Agency (TIA) in Pretoria last week. “By creating such opportunities for our countries’ future innovation leaders, the fund would be contributing to a brighter and more sustainable economic future for all South Africans.” SAinfo reporter The TIA was formed in 2008 through the merging of seven Science and Technology Department entities tasked with promoting innovation in South Africa. It uses the country’s science and technology base to develop new industries, create jobs and diversify the economy in manufacturing, agriculture, biotechnology, health, mining and energy. “We designed the Youth Technology Innovation Fund to give innovators access to funding, mentorship and business support to enhance their chances of commercial success and increase the contributions they make to technological innovation in the country,” TIA chief executive officer Simphiwe Duma said in a statement. The fund is targeted at people between the ages of 18 and 30 who do not already receive funding from the Technology Innovation Agency. ‘Developing a sustainable pipeline of skills’ Calls for proposals from interested parties were published in December 2011 and to date, 13 projects have been selected to receive support from the fund. TIA announced at the launch that applications for support are still open and proposals would be welcomed, particularly from people in the country’s under-resourced sectors, such as information and communication technology, health, energy and mining. “While funding and support is not exclusively available to projects in these sectors, they are the key focus areas of the Youth Technology Innovation Fund, given the urgent need that exists within them for the development of a sustainable pipeline of skills and talent,” said general manager for special projects at TIA, Margaret Mkhosi. Support includes 160 hours of business coaching and mentoring, South African Bureau of Standards product certification worth up to R100 000, intellectual property protection of up to R150 000, a voucher of up to R250 000 for services at TIA partners, as well as access to business incubation services through TIA partners.
11 April 2014BNP Paribas Personal Finance, a subsidiary of French bank BNP Paribas, is to acquire South African consumer finance company RCS from Foschini Group and Standard Bank for approximately R2.65-billion (US$255-million), the companies said on Thursday.“The potential for growth of South Africa combined with the quality of RCS management allow us to consider with confidence our entry into the South African market,” BNP Paribas Personal Finance CEO Thierry Laborde said in a statement.“RCS is an important provider of retail credit cards in South Africa,” Laborde said. “It is a well-capitalized, well-managed and profitable company with strong expertise in risk management that has shown consistent growth since inception.”RCS chief executive Schalk van der Merwe said the company “looks forward to expanding its presence in the southern African consumer finance market through the scale, expertise and financial support that BNP Paribas Personal Finance will bring as a shareholder”.RCS focuses primarily on providing retail credit card facilities, personal loans and insurance to the mass middle market, both under its own brand and in association with a number of retailers in South Africa, Namibia and Botswana.The company employs a workforce of over 1 250, services approximately 1-million cardholders, and has developed partnerships with 3 000 merchants for its general purpose card and exclusive agreements with 14 merchants for private or co-branded cards.It is 55% owned by clothing and accessories retailer Foschini and 45% owned by Standard Bank.The transaction is expected to be completed by the third quarter of this year.SAinfo reporter
TagsTransfersAbout the authorPaul VegasShare the loveHave your say Man Utd boss Solskjaer targeting two strikers in Januaryby Paul Vegas2 days agoSend to a friendShare the loveManchester United boss Ole Gunnar Solskjaer is targeting two strikers in January.The Red Devils have struggled this season and sit down in 14th place in the Premier League table after nine games.They have scored just ten goals having let Romelu Lukaku and Alexis Sanchez both leave in the summer without replacing them.And now it’s been claimed that Solskjaer wants two strikers in January as he aims to get Manchester United back on track.The Sun says Solskjaer will be backed with funds to improve his side with United struggling on the pitch.
Fox News probably should have double-checked before listing Steve Spurrier as “Head Game Coach” during their live interview.With college football less than a week away, former Gator quarterback and head coach Steve Spurrier is promoting his new book. The autobiography, Head Ball Coach, follows Spurrier’s childhood in Tennessee to his Heisman Trophy win, and then to playing and coaching in the pros to leading the Florida Gators to six SEC Championships and beyond. However, Fox News made quite a gaff, listing “Head Game Coach” as the introductory graphic during the broadcast.Steve Spurrier. Universally known as “Head Ball Coach” someone should tell the nerd running graphics at Fox News. pic.twitter.com/VUvbkZskOx— Patrick Shuck (@pshuck) August 31, 2016Note: Head Ball Coach is the title of Spurrier’s new autobiography…which he talked about during this interview.Florida fans and basically any person with a firm understanding of college football were quick to mock the obvious [email protected] @BobbyBigWheel idiots, everyone knows Bobby Petrino is the Head Game coach.— Sonar Jose (@SonarJose) August 31, [email protected] @BobbyBigWheel wait does he coach the game with the basket ball ring or the one with the giant tuning forks at each end of the grass— Frank Mueller (@Muellercleez) August 31, [email protected] no, it’s “head game coach.” i remember because he would always tell his players to put the ball right in the basketball ring— Aaron Montgomery (@ProbablyMonty) August 31, 2016Looks like someone at Fox News needs a comprehensive history lesson.Spurrier, now an ambassador for Florida’s athletics department, was the Gators’ starting quarterback for three seasons. He won the Heisman Trophy in 1966.After an NFL stint, Spurrier coached the Gators towards six SEC championships and one national title in 12 seasons. After resigning unexpectedly in 2001, he coached the NFL Washington Redskins until 2005, when he left to coach the South Carolina Gamecocks from 2005-2015.
zoom Dry bulk shipping company Safe Bulkers has unveiled plans to offer its common stock in an effort to raise funds for the acquisition of secondhand vessels.With a par value of USD 0.001 per share, the public offering would include a 30-day option which would be granted to the underwriters to purchase additional common stock “solely to cover over-allotments, if any,” Safe Bulkers said.Additionally, the company informed that an entity owned and controlled by Polys Hajioannou, the chief executive officer of the shipping firm, will invest in Safe Bulkers’ common stock through the purchase of shares either in the public offering or through a private placement.The net proceeds of the offering would also be used for capital expenditures and other general corporate purposes, which may include repayment or settlement of Safe Bulkers’ financial obligations.In early October, Safe Bulkers opted to sell two newbuilding vessels, the Japanese Panamax class vessel and the Kamsarmax class vessel, to entities owned by Hajioannou for a total of USD 48.2 million.Scheduled to be delivered in the first quarter of 2017, the Panamax and the Kamsarmax were appraised by independent third party brokers at USD 21.5 million and USD 24.5 million, respectively.
TORONTO – A new stress test for all uninsured mortgages is unnecessary and could increase costs for homebuyers, a report by the Fraser Institute said Wednesday.Study author Neil Mohindra wrote the proposed stress test “will do more harm than good” by limiting access to mortgages for some homebuyers.“The mandatory standard for stress testing could result in a less competitive and more concentrated mortgage market,” he wrote in the report.The study comes as the federal Office of the Superintendent of Financial Institutions finalizes new lending guidelines.Among the changes being contemplated is a requirement that homebuyers who have a down payment of 20 per cent or more and do not require mortgage insurance still have to show they can make their payments if interest rates rise.The head of OSFI has said that Canada’s banking regulator wants to reduce the risk of mortgage defaults because of high levels of household debt.“We are not waiting to see those risks crystallize in rising arrears and defaults before we act,” OSFI head Jeremy Rudin said last week.Canadian household debt compared with disposable income hit a record high in the second quarter. Statistics Canada reported last month that household credit market debt as a proportion of household disposable income increased to 167.8 per cent, up from 166.6 per cent in the first quarter.However, Mohindra said that instead of a prescriptive test, OSFI could use its existing powers to fix what it believes are deficiencies in policies and procedures.The Bank of Canada has raised its key interest rate target by a quarter of a percentage point twice this year.The increases have pushed up the big bank prime lending rates which are used to determine rates for variable-rate mortgages and lines of credit.The Fraser Institute is an independent, non-partisan organization that tends to prefer free-market policies over government regulation.
CALGARY – Oilsands producer Connacher Oil and Gas Ltd. has won court approval for a process to find a buyer or investor that could allow it to emerge from Companies’ Creditors Arrangement Act protection after nearly two years.A court ruling Wednesday approves the Calgary-based company’s agreement with its first lien lenders — owed about $141 million — to launch a process that envisions a May 23 initial bid deadline and court approval of a transaction in July.An attempt to sell the company soon after it filed for court protection from creditors in 2016 attracted several bids, but Connacher and its lenders ruled none was acceptable.“In light of the company’s improved financial performance resulting from cost efficiencies realized during the CCAA process and the improvement in oil prices, Connacher believes that it is appropriate to exit from CCAA in the short term, either through a third-party sale or investment transaction or a creditor-driven restructuring,” it stated in a news release.It added it has appointed investment bank Houlihan Lokey Capital Inc. to solicit proposals that will provide net sale or investment proceeds of at least $90 million, plus an amount sufficient to pay other claims with similar ranking to the first lien debtholders.If no qualified bidder emerges, the company would be sold to its lenders in return for cancellation of some of what they are owed.Justin Zammit, a vice-president with Los Angeles-based Houlihan Lokey, said he’s optimistic that a buyer can be found, adding marketing will expose the company to an international pool of potential investors.“The market is much more favourable. There are still some challenges but we think the outlook is much better than it was in 2016,” he said.Follow @HealingSlowly on Twitter.Companies in this story: (TSX:CLC)
CALGARY – Bryan de Lottinville’s relationship with charities is complicated.As the founder and CEO of Calgary-based Benevity Inc., the 58-year-old wants to help as much as he can by providing his multinational corporate clients like Nike, Coca-Cola, Google and Apple with software solutions that more efficiently extract money, volunteer hours and general “goodness” from employees.But he really wishes there were fewer than two million charitable organizations from around the world in his cloud-based database. And that they could be a little more organized in how they collect and spend money.“Charities, there are way too many of them,” he says during an interview.“If they were companies, they wouldn’t survive. Someone would come along and roll them up into an efficient infrastructure. But in the not-for-profit sector, all it takes is one or two well-intentioned donors to keep something alive that would be better combined with something else.”The giving business is giving back for Benevity, which took over three floors of a brand new seven-storey building on the north side of the Bow River in downtown Calgary late last year and is already looking to expand into a fourth floor.The company has come a long way from 2008 when de Lottinville decided to execute his idea to reinvent corporate giving.From four software developers working in a tiny office over a shawarma shop, the company has grown to employ 425 people, mainly in Calgary, but also in offices in Victoria, San Mateo, Calif. and Gloucester, U.K.This year it expects to distribute about $1.2 billion to 150,000 charities around the world.The Benevity system is all about choice and options, de Lottinville says.Participant companies can design their programs to allow any level of matching for any term by any group of employees. They can support as many or as few charities as they wish. They can also use the system to handle grant requests.About 87 per cent of donations via Benevity are distributed electronically, compared with only about eight per cent of the $390 billion per year in donations to charities in North America.Most of Benevity’s revenue comes from extracting a 2.9 per cent “support fee” from donations made by about 300 big corporate clients, with the fee capped for large individual transactions.Like many software-as-a-service businesses, Benevity isn’t making profits — yet. De Lottinville says the equity investments allow the company to grow bigger, more efficient and, hopefully, profitable.Last year, Benevity was hired to track a program at Telus Corp. through which the telecommunications company gives $1 per volunteer project hour worked to a charity of the employee’s choice. This year, it asked Benevity to organize its donation-matching program for its 28,000 staff in Canada.“They have created this system where they already interface directly with charities,” said Jill Schnarr, Telus vice-president of corporate citizenship. “Before … there was a huge administrative burden.”In January, the company announced that General Atlantic, a US$25-billion New York-based growth equity investment firm founded by American philanthropist Chuck Feeney, had become a major owner and partner with an undisclosed investment.Since then, Benevity bought companies in the U.K. and California to expand its geographic reach and gain access to their brand name clients.The financial injection allowed de Lottinville to pay back with interest the 40 or so small private investors who initially invested in Benevity — he jokes they thought they were making a charitable donation at the time. The company was also able to reduce the stake held by JMI Equity of Baltimore, which initially invested $38 million in 2015.Alex Crisses, managing director at General Atlantic, said it decided to invest in Benevity because it is “truly different” than the other companies in the space.“It’s really about employee engagement and making sure employees feel valued,” he said.He said General Atlantic is a long-term investor with no pre-set targets or liquidity timetable. It has a presence on Benevity’s board of directors but fully supports de Lottinville’s vision.De Lottinville is talkative when discussing business but turns quiet when asked if his childhood growing up in Ottawa shaped his interest in helping others. When pressed, he concedes it’s a factor, and part of the reason he volunteers with YWCA Calgary.“I grew up with a single mom and she was a vulnerable person, so some of that is personal resonance,” he said.His business resume starts with training as a lawyer in Ottawa and working in Toronto with a corporate finance practice.There he met Mogens Smed, founder of a company that made modular construction components in Calgary.The two hit it off and he joined Smed International as an executive in the mid-1990s. He helped grow it from $20 million in annual revenue and 200 workers to $300 million and 2,500 staff before it was taken over by a competitor in 2000.De Lottinville then joined iStockPhoto as chief operating officer. It was one of first multi-sided platform businesses to employ user-generated content and crowdsourcing. It was sold for $50 million to Getty Images in 2006.Building and selling businesses paid handsomely but the “recovering lawyer” said he yearned to do something to make the world a better place.He decided he lacked the skill and patience to work directly for a charity. He made an angel investment in a “consuming for good” software loyalty program startup but it failed miserably.Benevity satisfies both his entrepreneurial and philanthropist sides.De Lottinville said his latest goal is to find a way to help companies work together on big projects — water conservation, for example — instead of donating to multiple charities all trying to do the same thing.The efficiency appeals to him.Follow @HealingSlowly on Twitter.
CALGARY — The Alberta government says it will again ease its crude oil curtailment program for September.In a news release, it says it will allow the maximum amount to be produced by the province’s senior oil companies to rise to 3.76 million barrels per day, an increase of 25,000 barrels per day over the August limit, in recognition of lower oil storage levels and more volumes shipped by rail and pipeline.That’s about 200,000 barrels per day higher than the initial quota allowed under the curtailment program when it began in January. The release makes no mention of a recent call by several producers to ease curtailments for companies that improve export market access from Alberta by adding crude-by-rail capacity.Producers have indicated they would be more interested in buying 120,000 barrels per day of crude-by-rail contracts negotiated by the previous NDP government and put on the block by the current United Conservative government if they were allowed to produce more oil.The first 10,000 barrels per day a company produces are exempt from production limits, meaning they affect only 29 of more than 300 producers in Alberta.The Canadian Press