ECO Bank Boss Tips Investors on Doing Business in Africa

The Kabale grade one magistrate Esther Nyadoyi   has acquitted three men accused of waylaying a group of tourists along the Kabale-lake Bunyonyi road, medications shooting, injuring and robbing them late last year.

Prosecution led by the state attorney Batson Baguma had told court  that Gordon Mutatina alias Golden Clay a tourist guide on Lake Bunyonyi, Amon Owokubariho  a Kampala based businessman, Willy Beingana and others still at large on the 10th august 2014 at Kiyoora village in Kabale,  robbed tourists of their valuable belongings and money.

Prosecution told court that the trio robbed Samuel Wanyaga of 1.3 million shillings, 600 Tanzanian shillings, 7000 Rands and 500 quara all totaling 2.3 Uganda shillings.

Daniels lathe was robbed off 2 million Uganda shillings, Bella Tessier lost 2 million Uganda shillings and I pad all totaling to 4 million shillings, charlotte Emily Green lost 65000 shillings, Florence Nicole 1 million shillings, Samantha Loves Cook 250,000 shillings and Amaldeep Andhu lost 100,000 shillings.

Represented by their lawyer Justus Muhangi of Kasaija and Company Advocates, the accused wrote to the Director of Public Prosecution on 6th November 2014 requesting him to drop the case since the Police had not fully investigated and the available evidence could not incriminate them.

The DPP dropped the charges on grounds that police had not brought in sufficient evidence.

In her ruling Nyadoyi also said that the state has lost interests in the case, thereby closing the file and setting the trio free.

Mutatina had been on remand since September 2014   while Willy Beigana and Amon Owokubariho had been on remand at Ndorwa government prison since 3rd October.



Ecobank Group CEO Albert Essien  gave the keynote address in Munich at the 4th Conference on Managing Risk in Africa, what is ed offering strategies for managing risk in Africa’s growth markets.

Against the backdrop of what he outlined as a generally positive outlook for Africa, information pills he advised investors against viewing Africa as one, but rather 54 countries with different growth prospects, different infrastructure, trade agreements, tax regulations, culture and levels of technological development.

Mr Essien urged investors “to be prepared to engage with African countries on a long-term basis and avoid abrupt changes in investment focus because of perceived instability in certain markets.”

Africa’s growth outlook continues to be robust despite rising headwinds for the continent’s economies.

The continent has emerged as a frontier market driven by high commodity and oil prices, stable macro-economic environments, large investments from the BRIC economies and rising internal consumer spending.

But growth headwinds are now coming to the fore – traditional export markets in Europe remain stagnant, China’s growth is slowing and the oil price is falling – both of which will negatively impact the growth outlook of Africa’s extractive industries-dominated economies.

Security concerns have also risen in the past year.

Essien on Wednesday encouraged managing risks associated with doing business in Africa, including fiscal and monetary policy issues such as foreign exchange restrictions, transparency and compliance, political instability and corruption and resource and infrastructure challenges.

The Ecobank Group CEO offered executives overseeing market entry strategy in Africa six key considerations that they would have to contend with.

These, he said, were: “understanding the local business culture; assessing which markets represent the best balance of risk and reward; finding and vetting appropriate local partners; understanding local market regulations; local environmental factors; and levels of technological development.”

Mr Essien highlighted several market entry risks, which he enumerated as: political risk, reputational risk, operational risk and physical risk to staff and assets

He encouraged scenario planning as a good way to anticipate what future trends might emerge and what their impact and probability might be.

“Whatever risks are identified, they are best viewed holistically rather than in isolation. New market entrants will need to develop a clear risk appetite and weigh the opportunity against the cost of risk mitigation, which can be expensive,” Mr Essien said.

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