HiPipo Money

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…OMO Fast Action is the fastest stain remover in the market

Unilever Uganda hastodaylaunched the fastest stain removal formulation in Uganda, OMO Fast Action, which is poised to ease consumers lives and significantly reduce the time spent doing laundry as Ugandans increasingly demand for innovative products.

Launched on the backdrop of meticulous research and trials, OMO Fast Actionis set to revolutionize the laundry experience for Ugandans as it is a detergent that not only removes stains in less than one minute but also is also gentle on the hands with a spectacular fragrance.

Peter Muchiri, Country Manager, Unilever Uganda hailed the new product as a great milestone for the company and a win for consumers and the country at large.

“We have been part of Ugandan families for sixty two years and we believe our customers deserve continuous innovation and a productthat makes their washing experience easy and enjoyable. The launch of OMO Fast Action reflects our dedication to achievingthis” said Mr. Muchiri.

He also expressed gratitude to the Government of Uganda and various stakeholders for their support to Unilever throughout its operations in the country maintaining it is the reason Unilever continuously seeks to innovate and meet customer.

The Chief Guest and Honorable Speaker of Parliament, Rebecca Kadaga praised Unilever Uganda  for its continued efforts to provide Ugandans with high-quality products and thanked the Company for its contribution to both the economic and social development of the country.  

“Unilever Uganda has been our partner in the enhancement of Ugandan homes and businesses for over sixty years. To us and the families that have trusted them over the years, Unilever Uganda is more than a manufacturer of products. It is part of our families, our heritage and an enabler of better and easier living” said Rebecca Kadaga.

The new product launch event was attended by various stakeholders, including government officials, wholesalers and distributors across Uganda and Unilever staff from Uganda, Kenya, Nigeria, South Africa, and the United Kingdom.

Applauding the move, Unilver Uganda Marketing Manager, Diana Nabukenya, emphasized OMO’s belief in allowing children to grow through play and noted that OMO Fast Action will give mothers the confidence to allow their children to explore and play, without the worry of removing tough stains.

“The OMO tagline ‘Dirt is good’ sends out an important message to families that playing outdoors is an important part of a child’s growth and development process. It is how children learn, express their creativity and even bolster their immune systems.OMO Fast Action allows for peace of mind for mothers when their children play” said Ms. Nabukenya.

The colorful launch event featured several activities includinga Laundromat game, where guests were given the chance to put ‘OMO Fast Action’ to the test by washing clothes with stains. Guests who washed off the stains fastest were rewarded with various prizes. Entertainment from Moze Radio and Weasel, Ndere Troupe and Fun Factory crowned the evening.

OMO washing powder is a superior and quality soap powder that gives you value for your money. New OMO delivers maximum consumer satisfaction by delivering high performance stain-removal and cleaning abilities and a long lasting fragrance.

The new OMO is developed from breakthrough technologies and creates a product that gives consumers an unbeatable experience.

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Citadel Capital Reports Surge in Assets to USD  4.22bn, 5.7% Rise in Non-Statutory Aggregate Revenues to USD0.91bn, and 45.2% Decline in Statutory Net Loss as Firm Releases FY13 Results

Full-year aggregate (non-statutory) revenues and EBITDA of operational core and non-core companies rises to highest levels in eight quarters. Statutory financials report near-halving of full-year loss to usd54.11 million.

Citadel Capital (CCAP.CA on the Egyptian Exchange), a leading investment company in Africa and the Middle East, released today its consolidated financial results for the fourth quarter and full year 2013.

Highlights of the results include a more than five-fold rise in assets on the balance sheet to USD 4.22 billion as part of the firm’s ongoing transformation into an investment company that holds majority stakes in most of its subsidiaries in five core industries: energy, transportation, agrifoods, mining and cement. 

On the income statement front, the firm’s statutory consolidated net loss narrowed 54.4% year-on-year in 4Q13 to USD 18.07 million, while on a full-year basis the firm’s net loss was nearly halved, falling to USD 54.11 million. The year-on-year contraction in net loss owes almost entirely to improved operational performance at the underlying platform and portfolio companies. This improvement was weighed down by USD 19.56 million in non-cash impairments taken mainly in 1Q13, related to previously written-down upstream oil and gas investments.

Meanwhile, total aggregate (non-statutory) revenues at operational core and non-core companies rose 5.7% to USD0.91billionin FY13; that improvement was dwarfed by a 67.1% increase in aggregate EBITDA to USD77.82 million on the back of more efficient management and improving market conditions. While now moving in the right direction, Management notes that EBITDA-level improvements will only begin to impact the company’s bottom line later in 2014 and into 2015, particularly as energy subsidies are lifted — a core theme for many Citadel Capital platforms — and infrastructure spending continues to rise.

In the final quarter of the year, total aggregate (non-statutory) revenues at operational core and non-core companies surged 13.9% to USD0.24billion. Meanwhile, EBITDA shot up 345.3% to USD30.92 million, its highest level in the past eight quarters. This reflects stronger across-the-board performance, led by the cement and mining sectors.

“A relentless focus on operational improvements and cost optimization at both the Citadel Capital and subsidiary levels was a focus of 2013 and remains a top focus of the current year,” said Citadel Capital Chairman and Founder Ahmed Heikal. “As this year progresses, we will maintain a laser focus on three themes: Exiting our investments in non-core holdings; using the proceeds from that divestment program to both deleverage and fuel growth at core subsidiaries; and investing in governance at the Citadel Capital and subsidiary levels to make certain we have the people and systems we need to make our growth sustainable.”

Under the divestment program, non-core subsidiaries will be exited over the coming three or more years. In the first five months of 2014, the firm has exited its investment in the Sudanese Egyptian Bank (SEB) in a US$ 22 million sale and has received an offer to sell 100% of Sphinx Glass for an equity value of c. US$ 112 million.

At the Citadel Capital-level, the highlight of 2013 was the receipt of regulatory approval and subsequent launch of a rights issue that saw the firm’s paid-in capital rise to USD 1.12 billion upon closure of the second and final subscription period on 9 April 2014. Full subscription to the USD0.51billion capital increase has allowed Citadel Capital to take majority stakes in most of its subsidiaries in five core industries.

With the majority of the acquisitions having taken place by the end of December 2013, the acquisition program had a substantial impact on the firm’s balance sheet, where assets swelled to USD 4.22 billion as of 31 December 2013 compared with USD0.82 billion a year earlier. Starting with the first quarter of 2014, Citadel Capital will also fully consolidated a number of subsidiaries on its income statement.

Highlights of the 4Q13 performance of the firm’s investments in each of Citadel Captial’s five core industries follow.

Energy

Aggregate revenues at operational core platforms rose 9.7% year-on-year in 4Q13 to USD 48.94 million, while EBITDA grew 17.8% to USD 6.41 million, driven by rising contributions from all TAQA Arabia divisions. On a full-year basis, sector revenues rose 4.6% to USD 0.18 billion, while EBITDA was flat at USD 21.03million, weighed down by a lower contribution from Tawazon which reported lower waste collection rates due to difficulties with the EEAA (Egyptian Environmental Affairs Agency, discussed in detail in the Energy section). Construction at Egyptian Refining Company is on track to allow an early-2017 start of operations; TAQA Arabia continues to strong growth figures despite national supply challenges; Tawazon remains a leading producer of refuse-derived fuel and is seeking new supply contracts; and Mashreq is in non-exclusive negotiations with potential international partners for its fuel bunkering and logistics hub.

Transportation

The segment posted aggregate revenues in 4Q13 of  USD 20.50 million, a 38.7% year-on-year rise, with EBITDA-level losses improving 88.0% in the same period. In the full year, revenues rose 12.4% to USD 74.16 million, while EBITDA saw a 49.6% narrowing to a loss of USD 7.11million. Improved performance came across the board at Nile Logistics (Egypt and Sudan) and Africa Railways (Rift Valley Railways in Kenya and Uganda). In Egypt, stevedoring operations helped make up for lower barge utilization rates at Nile Logistics, while Nile Barges in South Sudan is capturing new market share and looking forward to the 2014 launch of a rehabilitation plan. At Rift Valley Railways, the closure of a capital increase for Africa Railways allowed the latter to acquire an additional stake in April 2014, and also earmark additional funds for the ongoing successful five-year turnaround program.

Agrifoods

Aggregate sector revenues fell 7.0% year-on-year in 4Q13 amid a work stoppage at dairy producer Enjoy on the back of funding challenges. On a full-year basis, however, revenues rose 5.3% while EBITDA climbed to USD10.46million from USD0.27million the previous year on the back of improved management and market conditions at the rest of the division’s subsidiaries, including Dina Farms, Rashidi El-Mizan, ICDP and Rashidi for Integrated Solutions, in addition to lower losses from Wafra on a shift to use experts and machinery to level and develop land for third parties. Margins on farming projects for other parties are very high, allowing a stronger contribution to EBITDA.

Mining

In the fourth quarter, Mining division platform company ASCOM reported a 3.0% dip in consolidated revenue to USD18.42 million, while EBITDA came in at positive  USD 2.66 million, a significant y-o-y increase over negative USD1.24 million in 4Q12. On a full year basis, the company reported a 2.4% fall-off in revenues, but a flip to a positive EBITDA of USD2.97 million from a loss the previous year, largely on the back of improved profitability at Egyptian quarrying operations and a better performance from subsidiary ACCM.

Cement

Aggregate sector revenues rose 25.4% year-on-year in 4Q13 to USD91.44million, primarily on higher revenues from the cement division (the sector includes both cement and construction operations); EBITDA was up 83.3% in the same period. For the full year, revenues rose 9.0% to USD 0.04 billion on the back of the start of operations at ASEC Minya, a greenfield plant in Egypt, while EBITDA surged 66.6% to USD28.68million.

Full financial statements and management’s analysis of the performance of operational core platform companies as well as the firm’s standalone and consolidated financial results are available for download at ir.citadelcapital.com.

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2013 ICCA rankings confirm South Africa has stepped up its rankings to occupy its place as the leading business events destination on the continent.

South Africa’s credentials have been given a major boost and have cemented the country’s position as Africa’s top business events destination. The International Congress and Convention Associations (ICCA) 2013 ICCA rankings show that South Africa has gained three places on the global rankings placing it at number 34 from 37. In 2013, South Africa hosted 118 meetings officially making it the number one convention destination in Africa and the Middle East.

Furthermore, two of the country’s cities – Durban and Cape Town – are placed in the Top 100 cities in the world for business events.

“We are exceptionally happy with this announcement. Our hard work and the execution of the ‘Rise with Us’ strategy launched last year is clearly bearing fruits. We launched it to address and change the misconceptions the global industry has about South Africa and it seems the message is being well received,” says MrThulaniNzima, Chief Executive Officer of South African Tourism.

 “But we cannot take all the credit: This feat would not have been possible had it not been for the truly remarkable contributions of all the members of the South African tourism industry and association bodies. It is their seamless execution of conferences and meetings as well as their dedication to our vision and mandate that has clearly cemented South Africa’s growing reputation in this industry,” Nzima adds.

The SANCB was launched in 2012 to help grow and position the country as a favourable destination. At the time of its launch, South Africa had already hosted numerous mega events and meetings and conferences of global significance which had catapulted the nation’s skills and capabilities into the international spotlight.

“Before 1994, the first year of our democracy, South Africa hosted 12 international association conferences. Fast forward to 2013 and we have grown this number to 118 ICCA recognised meetings. We have also hosted 1 038 international association conferences that met ICCA’s criteria since 1994 and remain ranked under the top 11 long haul destinations globally,” says Nzima.

Some of the events successfully hosted by South Africa include the International Aids Conference that took place in 2000, which the country has won the right to host for a second time in 2016 and will be taking place in Durban. An estimated 20 000 delegates will be in attendance. The 123rd Session of the International Olympic Organising Committee which took place in Durban in 2011 and the World Congress on Intensive and Critical Care Medicine (WFSICMM) which had a total of 10 000 delegates (2013) and the One Young World Conference in 2013 which took place for the first time in Africa in Johannesburg, South Africa.

Many of the meetings and conferences hosted have not only demonstrated the country’s world class infrastructure and capabilities, but have also showcased a united industry and a committed government, working hard, passionately and together to taking this industry forward and in so doing, growing our global reputation for the benefit of all businesses in the sector. They have also done a sterling job of showing why South Africa and indeed, South Africans are highly regarded as experts and industry experts in various industries.

Shows such as IMEX Frankfurt help to deliver this message in a direct way.

“We participate in trade shows like IMEX not only because it is part of our mandate to market our country and create international marketing platforms for the local business events industry but also, and most importantly, because these shows give us direct access to the buyers and key decision makers we are targeting.”

But, as he is quick to point out, this achievement is not a win for South Africa only but for the continent as a whole. It encourages African Associations to work together and collaborate in a bid to win more events for the continent.

“Our success as a destination is made sweeter when our counterparts from the continent win as well. We need to collaborate and unite with our counterparts on the continent if we want to be a destination to be reckoned with on the business events front. The business events markets is vast and varied. There is enough for everyone – but it will take collaboration, partnership and understanding that we are working to unleash the potential of business events for the benefit of the continent, not just our country,” concludes Nzima.

It is for this reason that the SANCB manages and hosts the continent’s pan-African business event tradeshow, Meetings Africa. The show delivers a quality business platform for growing the continent’s business events industry. Next year, Meetings Africa will celebrate its tenth year and is now firmly established as the biggest, best represented and most valuable business events tradeshow in Africa.

“We’re excited about the growth of Meetings Africa and how it brings the best of Africa under one roof. It is an excellent business platform, an opportunity to discuss, network and work on ways in which we, as players in the business events sector, can and should pool together for the betterment of the industry, and of Africa,” says Amanda Kotze-Nhlapo, Chief Convention Bureau Officer at South African Tourism.

Meetings Africa 2015 takes place from 23 – 25 February at the Sandton Convention Centre. The SANCB is currently participating at the IMEX Frankfurt exhibition.

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Excited 20 shoppers just won shopping vouchers from MTN worth 500,000Ugx which they spent in one minute. This was done at capital shoppers today. MTN has done this to celebrate Labour Day with its customers. A lucky journalist was also given chance to shop so that he also experiences the excitement.

The customers shopped items ranging from electronics, bed sheets and bed covers, toiletries to groceries.

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AT INDABA 2014 OPENING CEREMONY
DATED SATURDAY, MAY 10, 2014

 Indaba, is a trade exhibition that takes places in South Africa yearly.

In the life of a nation, 20 years are but a few steps on a much longer journey. However, when those 20 years mark the birth and growth of a new democracy, they are immensely important, as they determine the direction the nation takes.

By now, every South African is aware that we are celebrating 20 years of democracy and freedom this year. Millions of South Africans are participating in one way or another to celebrate our achievements. From the side of the tourism industry, our message is a resounding one: What an exhilarating 20 years it has been!

By 1994, 20 years ago, total international arrivals, including tourist arrivals, stood at a mere 3,6 million. During our two decades of democracy, these arrivals have grown by more than 300% to reach nearly 15 million last year, 9,6 million of which were tourist arrivals. The story of 20 years of tourism since 1994 is a remarkable one indeed.

Let us just imagine, for a moment, what the 20 years before 1994 looked like. Just imagine the effect that the passbook system – an internal passport control system of sorts – had on freedom of movement. On top of that, we had a Separate Amenities Act, which regulated the use of public as well as private amenities by the colour of your skin and limited access to most tourism facilities to one racial group only. Just imagine, apart from all the other inhibiting factors, how difficult it was for a tourism industry to operate in those circumstances.

Twenty years ago, we had no purpose-built international convention centre; no Moses Mabhida Stadium, no Freedom Park; no Tourism Business Council of South Africa, which gives a voice to the previously fragmented private sector; no National Tourism Sector Strategy, which unites government and industry around common goals; no South African National Convention Bureau nor a Meetings Africa, which positions us as a premier convention and business tourism destination; no robust grading criteria that underwrite the quality of our offerings, of which the Tourism Grading Council of South Africa is today the custodian; no Lilizela Tourism Awards for excellence, and no facilitated skills development and training for thousands of young people to become chefs, sommeliers and tourism safety monitors, to name but a few.

Internationally, our country was marketed by the South African Tourism Corporation known as SATOUR. SATOUR was the offspring of the publicity arm of South African Railways and Harbours in 1947, which then developed into a government agency, ran and effectively staffed by civil servants. Since 1994, South African Tourism has been transformed from a country-promotion and publicity organisation into a dynamic global destination-marketing organisation that is the envy of many. The South African Tourism board consists of respected leaders from the private sector, who work in partnership with government to ensure coordinated and effective implementation of our plans and strategies, underpinned by cutting-edge strategic research.

From a budget of R81 million in 1994, national government today invests in excess of R1,6 billion in tourism every year, and provinces and municipalities millions more. Prior to 1994, tourism was a line function with a director and one administrative clerk at a desk in the Department of Trade and Industry. Today, we have a new Constitution with concurrent powers for tourism development and promotion across all provinces; a full-fledged Ministry and Department of Tourism that provides policy direction; a 2014 Tourism Act that elevates our legislative mandate to a level appropriate for the demands of the 21st century, and recognition of tourism as one of six core economic drivers in the country’s New Growth Path. The tourism sector was also the first in the country to have its own Black Economic Empowerment Charter and Scorecard formally gazetted. And South Africa was one of the first countries to entrench the concept of responsible tourism in its policy framework.

As a destination, we have evolved from offering exclusive safari holidays to the international travelling elite, to one of the most sought-after global destinations offering a diverse variety of unforgettable experiences, including leisure, business and events to domestic, regional and long-haul markets.

Bringing it all together is our people. In the words of late President Mandela when he opened INDABA in 1995: “… our natural beauty only offers a fitting setting for our country’s most valuable asset: its people. Ours is a nation of warm and generous people. Its great variety of culture and heritage, once exploited to divide our people, has been turned by them into a source of strength and richness in every sphere of life.”

As a country emerging from an era of isolation, South Africa joined the United Nations World Tourism Organisation in 1994. We played a catalytic role in establishing the T20 Ministers’ platform for tourism leaders from the G20 countries in Sandton, Johannesburg in 2010. Since 2012, we formally participate in the structures of the OECD’s Tourism Committee. And we are a key partner in the initiative to form a Chapter of Tourism Ministers in the African Union.

Today, we can proudly look back on having hosted some of the biggest tourism mega-events in the world, all of which have contributed to redefining our country’s image, building social cohesion and creating new economic opportunities.

Three years after the FIFA Soccer World Cup, we are still growing from strength to strength. The 9,6 million international tourist arrivals to our country recorded last year were the highest in our history. According to the latest tourism satellite account data, in 2012, our sector directly accounted for R93 billion, or 3%, of GDP – up from an estimated R9 billion, or 1,7%, of GDP in 1994. When we add domestic tourism expenditure to the mix, internal tourism expenditure amounted to R191 billion in 2012. And where direct jobs in our sector stood at an estimated 230 000, or 1,9%, of the total in 1994, tourism today accounts for over 610 000, or 4,6%, of direct employment in the country.

This good-news story is also reflected in the financial reporting of our industry partners. The accommodation subsector, for example, continues to experience solid recovery, working back the oversupply of hotel rooms following the World Cup. Last year, Sun International reported a comparative increase of 11% in accommodation revenue over the 2012 financial year, on the back of much healthier occupancy and achieved daily rates compared to previous years. Similarly, City Lodge last year reported an increase of 11% in revenue and 31% in headline earnings, while Tsogo Sun reported that their “adjusted headline earnings per share increase[d] by a very pleasing 24%” on the back of, inter alia, a 10% increase in average room rates.

And then we are all aware that, as of last month, Marriott International has acquired the 116 hotels in the Protea portfolio. This R2 billion foreign investment in over 10 000 rooms spread across 79 hotels in South Africa and 37 elsewhere on our continent represents a massive vote of confidence in what we have all achieved together in the tourism sector.

Taken together, these are impressive numbers indeed. Looking to the next 20 years of tourism, it is hard to envisage how technology will evolve, or how consumer preferences will change, or how the centre of gravity of our source markets may still shift. Many challenges remain, not least those of transformation and accelerated job creation. It is safe to say that we are entering the next 20 years of democracy and freedom confident that the tourism economy’s fundamentals are in place – knowing that we are hedged against shifting markets through a balanced portfolio of domestic, regional and overseas long-haul arrivals from both mature and emerging economies, and a diversified, authentic supply side that continue to differentiate us in the global market place. And we are embracing the opportunities brought about by the mobile and social media revolution to customise value-for-money offerings to consumers.

And as we meet here as Africans, we recognise that we have to resolve outstanding challenges in travel facilitation. I am convinced that, 20 years from now, history books telling the story of tourism on our continent will describe how a modernised and truly pan-African INDABA has been one of those pivots that helped us to take tourism to the next level on our continent. This year, we have 24 African countries exhibiting at INDABA.

I am honoured to be joined by so many of my ministerial colleagues from all corners of the continent, with whom we also met yesterday in the first ever INDABA Ministerial Roundtable on common travel facilitation and connectivity challenges. I welcome you and acknowledge your presence here tonight (may I please ask you to stand up):

• AU Commissioner for Infrastructure and Energy
• The Deputy Minister from Angola
• The Minister from Benin
• The Minister from Burundi
• The Minister from Congo Brazzaville
• The Minister from Gabon
• The Deputy Minister from Ghana
• The Minister from Lesotho
• The Minister from Madagascar
• The Minister from Namibia
• The Minister from Senegal
• The Minister from Seychelles
• The Minister from Swaziland
• The Minister from Uganda
• The Minister from Zambia
• The Minister from Zimbabwe

Ladies and gentlemen, ten years ago, I stood here to deliver my first INDABA opening address. I would like to thank each and every partner, from every sphere of government to the private sector, for working with me and the rest of national government to achieve success. This sector can only excel if we all value and understand the nature of the relationship between government and the private sector – and that includes big business as well as small, medium and micro-sized enterprises. To all of you, thank you. Now, let us embark on the next 20 years of our journey, together.

Thank you