In a heartfelt birthday message, Mikie Wine expresses his emotions as he celebrates the fifth birthday of his son, Kyagulanyi David Paris.

Singer Micheal Mukwaya aka Mikie Wine has penned down a heartfelt birthday message to his son David Paris Kyagulanyi with girlfriend Pauline Kemigisha as he turns 5 years old. Mikie and Pauline gave birth to David as their first child together in 2018 when they were still madly in love before Shazney. Even though for the past few years Mikie Wine has ben hiding this son, he has now decided to make his whereabouts public as he also recently returned to his father and the two are now dating again. "Happiest 5th birthday to you My Son Kyagulanyi David Paris you are such a blessing to this family,may you live to love your country and stand for the truth like your Namesake who we named you after and May God bless you all the days of your life..Happy birthday"- he posted.

Absa Group reports resilient 2023 first-half earnings, reflecting diverse franchise

Absa Group reported resilient results in an increasingly challenging operating environment during the first half of 2023. Headline earnings increased 2% to R11.2 billion from a high base a year earlier, as strong revenue growth of 16% offset 60% higher credit impairments. “With the right strategy in place, an experienced and diverse leadership team, a strong balance sheet and consistent execution, Absa remains positioned for growth,” the group said in a statement. According to the statement, the “Group’s well-diversified franchise helped mitigate the earnings impact of the increasing strain on consumers in South Africa, which is Absa’s largest market. ” Headline earnings in South Africa declined 17%, given elevated credit impairments, while earnings for regions outside of South Africa, collectively known as Africa regions, almost doubled. “Our deliberate diversification strategy stood us in good stead in the first half of 2023, given weaker economic conditions and significant pressure on consumers in South Africa,” said Arrie Rautenbach, Absa Group Chief Executive Officer. “We will further diversify going forward by deploying resources and capital into attractive growth prospects on the continent which provides a natural performance hedge for the group, while continuing to invest in South Africa.” The Group’s underlying performance during the period is reflected by 16% higher pre-provision profit, which is profit before setting aside money for bad debts, tax and other items. “We are executing consistently against our strategic focus areas, as we strive to become a leading Pan-African bank. This is evident in the continued progress we have made against key targets,” said Rautenbach. “We are particularly pleased with our return on equity of 16.7% and with our cost-to-income ratio improving further to 49.8%, driven by solid revenue growth,” said Jason Quinn, Absa Group Financial Director. “We remain well capitalised to fund growth opportunities,” he said. Absa continued to grow as a primary partner, with a focus on building its transactional business through investments across its businesses, notably in Private & Wealth, Youth propositions, Bancassurance and Business Banking during the period. “We are seeing tangible progress in becoming the primary partner for our customers, which is shown by improved client experience, accelerated customer growth and solid deposit growth,” said Rautenbach. Customer numbers grew 4% to 11.8 million, while customer deposits increased 11% to R1.2 trillion. New-to-bank retail transactional account sales increased by 23% in South Africa, with active customers in Absa Regional Operations (ARO) up 16%. Absa continued to invest heavily in technology and its digital journey yielded value across the franchise, with the Group’s digital customer base growing across retail and corporate segments. Digitally active customers increased 10% to 3.5 million. The effects of slower economic growth, increased interest rates and consumer strain were evident in the performance of the Group’s retail businesses in South Africa. Product Solutions Cluster (SA home loans, vehicle financing, insurance, investment, advisory services) Headline earnings declined 13% as credit impairments increased, reflecting significantly higher interest rates and weak economic growth that put consumers under strain. Demand in the home loans market slowed, with application volumes decreasing across the industry, reflecting the subdued property market, while vehicle sales displayed resilience. Pre-provision profit growth remained strong, as the insurance business performed well, given lower mortality claims, improved investment returns and solid net premium income growth. Everyday Banking (day-to-day banking products and services in SA such as credit card, payments and personal loans) Headline earnings decreased 21% due to elevated credit impairments, which was largely due to the adverse economic climate and the impact on customers’ disposable income. Pleasingly, the customer base grew 2%, given strong growth momentum in the young adult and entry level segments. The economic environment remains uncertain. Geopolitical concerns, particularly surrounding the Russia-Ukraine conflict and rising tension between the West and China, appear likely to impact the outlook for some time. Absa expects real GDP growth of 0.7% in South Africa, where electricity supply remains a significant risk for the economy for the foreseeable future. It expects GDP-weighted economic growth in ARO countries to slow to 4.3% in 2023. Based on these assumptions, and excluding further major unforeseen political, macroeconomic or regulatory developments, Absa expects high single-digit revenue growth in 2023, driving high single-digit growth in pre-provision profit, while its credit loss ratio will likely improve substantially in the second half. “Absa’s strong balance sheet and liquidity, together with the value of its diversified franchise, position the Group well to deliver on its strategy over the medium-term.

American rapper 6ix9ine provides financial support to Kapilipiti for his old car repair, while Pallaso gifts him with money.

In April of this year, American rapper Tekashi 6ix9ine visited Uganda and interacted with various individuals, including the young rapper Kapilipiti Omubaaya. Months later, he reveals that he has financially supported the repair of Kapilipiti's old car, bringing it back to working condition. In a video shared on his social media accounts, Kapilipiti recounts that 6ix9ine initially intended to buy him a new car, but Kapilipiti requested financial assistance to repair his existing vehicle instead. Speaking on camera, the Ugandan rapper explains that he was facing difficulties with his car when Tekashi visited Uganda. They maintained communication after his departure, and Tekashi even sent him some money. During his time in Uganda, 6ix9ine discreetly shot a music video with the Hyper Kid dancers, a group that Kapilipiti is a part of. This opportunity allowed Kapilipiti to discuss a potential collaboration with 6ix9ine in the future, given that he is the only artist in the group. Upon receiving his repaired car, singer Pallaso was also present and gifted Kapilipiti with a substantial amount of money.

Absa Group reports resilient 2023 first-half earnings, reflecting diverse franchise

Absa Group reported resilient results in an increasingly challenging operating environment during the first half of 2023. Headline earnings increased 2% to R11.2 billion from a high base a year earlier, as strong revenue growth of 16% offset 60% higher credit impairments. “With the right strategy in place, an experienced and diverse leadership team, a strong balance sheet and consistent execution, Absa remains positioned for growth,” the group said in a statement. According to the statement, the “Group’s well-diversified franchise helped mitigate the earnings impact of the increasing strain on consumers in South Africa, which is Absa’s largest market. ” Headline earnings in South Africa declined 17%, given elevated credit impairments, while earnings for regions outside of South Africa, collectively known as Africa regions, almost doubled. “Our deliberate diversification strategy stood us in good stead in the first half of 2023, given weaker economic conditions and significant pressure on consumers in South Africa,” said Arrie Rautenbach, Absa Group Chief Executive Officer. “We will further diversify going forward by deploying resources and capital into attractive growth prospects on the continent which provides a natural performance hedge for the group, while continuing to invest in South Africa.” The Group’s underlying performance during the period is reflected by 16% higher pre-provision profit, which is profit before setting aside money for bad debts, tax and other items. “We are executing consistently against our strategic focus areas, as we strive to become a leading Pan-African bank. This is evident in the continued progress we have made against key targets,” said Rautenbach. “We are particularly pleased with our return on equity of 16.7% and with our cost-to-income ratio improving further to 49.8%, driven by solid revenue growth,” said Jason Quinn, Absa Group Financial Director. “We remain well capitalised to fund growth opportunities,” he said. Absa continued to grow as a primary partner, with a focus on building its transactional business through investments across its businesses, notably in Private & Wealth, Youth propositions, Bancassurance and Business Banking during the period. “We are seeing tangible progress in becoming the primary partner for our customers, which is shown by improved client experience, accelerated customer growth and solid deposit growth,” said Rautenbach. Customer numbers grew 4% to 11.8 million, while customer deposits increased 11% to R1.2 trillion. New-to-bank retail transactional account sales increased by 23% in South Africa, with active customers in Absa Regional Operations (ARO) up 16%. Absa continued to invest heavily in technology and its digital journey yielded value across the franchise, with the Group’s digital customer base growing across retail and corporate segments. Digitally active customers increased 10% to 3.5 million. The effects of slower economic growth, increased interest rates and consumer strain were evident in the performance of the Group’s retail businesses in South Africa. Product Solutions Cluster (SA home loans, vehicle financing, insurance, investment, advisory services) Headline earnings declined 13% as credit impairments increased, reflecting significantly higher interest rates and weak economic growth that put consumers under strain. Demand in the home loans market slowed, with application volumes decreasing across the industry, reflecting the subdued property market, while vehicle sales displayed resilience. Pre-provision profit growth remained strong, as the insurance business performed well, given lower mortality claims, improved investment returns and solid net premium income growth. Everyday Banking (day-to-day banking products and services in SA such as credit card, payments and personal loans) Headline earnings decreased 21% due to elevated credit impairments, which was largely due to the adverse economic climate and the impact on customers’ disposable income. Pleasingly, the customer base grew 2%, given strong growth momentum in the young adult and entry level segments. The economic environment remains uncertain. Geopolitical concerns, particularly surrounding the Russia-Ukraine conflict and rising tension between the West and China, appear likely to impact the outlook for some time. Absa expects real GDP growth of 0.7% in South Africa, where electricity supply remains a significant risk for the economy for the foreseeable future. It expects GDP-weighted economic growth in ARO countries to slow to 4.3% in 2023. Based on these assumptions, and excluding further major unforeseen political, macroeconomic or regulatory developments, Absa expects high single-digit revenue growth in 2023, driving high single-digit growth in pre-provision profit, while its credit loss ratio will likely improve substantially in the second half. “Absa’s strong balance sheet and liquidity, together with the value of its diversified franchise, position the Group well to deliver on its strategy over the medium-term.

Bank of Uganda lowers CB rate for first time in 2 years

The Bank of Uganda has lowered the Central Bank Rate (CBR) to 9.5 percent, an indicator of its intention to bring down the cost of credit, for the first time since June 2021. The rate, which the Monetary Policy Committee uses to influence interest rates and control the flow of money, rose sharply from 6.5 in April 2022 to 10 percent in October 2022, a rate maintained till the last statement in June 2023. The bank says the reduction was informed by the steady decline in inflation from 10.8 percent at the beginning of this year, to 3.8 percent in July 2023, the lowest in 15 months, according to the Uganda Bureau of Statistics. Deputy Governor, Michael Atingi-Ego says the lower inflation is due to the reduction in prices of agricultural and imported products, the slowdown in global economic activities, as well as reduced domestic demand. Though it reduced the CBR, the Bank remains cautious about the global and domestic risks that remain in place. However, overall, Atingi-Ego says, there is higher certainty that global inflation, demand and economic recovery will remain subdued for some time, meaning inflation could remain suppressed. Dr Atingi-Ego says the economic outlook over the next two years calls for support to increase economic activity as the global situation looks weak. Another fact that has caused discomfort is the World Bank’s suspension of new credit to Uganda, as it could affect the economic forecasts. Atingi-Ego said that for now it’s hard to predict the impact, until the Ministry of Finance compiles the list of possible projects affected, adding that they need to know how the ministry will react. The Deputy Governor also delved into possible scenarios or what could happen to a country like Uganda in regard to suspension of loans by one of the biggest lenders. He says whatever the case, the options could be costly, for example if the government decided to increase domestic borrowing, cut the budget or make reallocations of resources and there is a likelihood of affecting the foreign reserves of the country. According to the Bank, Uganda’s economy has demonstrated resilience and has been recovering well despite the uneven global growth environment with estimated annual growth of 5.3 percent in 2022/23. However, it notes that economic growth seems to be slowing due to weak domestic demand. Data at the Uganda Bureau of Statistics showed quarter-on-quarter average economic growth of -6.5 percent in the second and third quarters of 2022/23. This was mainly because of a slowdown in agriculture to -21.6 percent, while industry and services sectors also posted negative growths of 2.3 and 1.39 percent respectively. Looking ahead, economic growth is expected to recover gradually, ranging from 5.0 percent to 6.0 percent in fiscal year 2023/24. This growth is expected to be driven by private sector consumption, investments in extractive industries, and improved exports, according to the Bank.

"I apologize for behaving foolishly and engaging in a fight at your restaurant, but I want to make it clear that I am prepared to confront Kid Dee once more," Grace Khan conveyed to Mesach Ssemakula.

Angry and bitter, singer Grace Khan has spoken out and issued an apology to Papa Mesach Semakula following her bitter fight with upcoming singer Kid Dee at Papaz Spot Restaurant in Makindye. Through her social media, Grace Khan has apologized to Mesach after she was embroiled in a physical altercation that saw them exchange jabs, flying objects and sharp insults. "Hello taata @Measerch Semakula It’s me your dear Daughter Grace Khan I am here to apologize about today’s act! Taata you know me very well I have never done anything like this regardless of how many times I have been at your place! But since someone who has always been calling himself mu gals baby dad, we met for the first time (Omuntu gwesogelangako Naye olwokuba ye anywa drugs nenjagaze Dad Kumwana wange ntabuka) I won’t go in details taata im very sorry for the act! Hope my Sorry Gets granted!And for the customers @papas spot is not aviolat place Naye ye we Musanze Mumilembe jange ate nga nawalala wenkusanga njakukolako nga amateka ge Gaza bwegalagila agatali ga police! Until I rest in peace. KYOVA OLABA BAKUGOBYE WO MANGU NAKULINDA DDA ! "- she posted. The pair’s fallout emanated from Kid Dee crossing paths with Grace Khan and Papa’s Spot restaurant and claiming the paternity of her daughter before demanding the kid’s DNA test. Grace implored Mesach Semakula to find a spot in his heart to forgive her for her misconduct, before making it known to the Papaz Spot restaurant customers that it is not violent.

Paul Okoye reunites with his ex-wife, Anita, as they come together to accompany their children to a concert rehearsal.

Over the weekend, Paul Okoye, one half of the Nigerian duo P Square, stirred up social media discussions by reuniting with his former wife, Anita. Their relationship had been marred by a bitter dispute in 2022, stemming from allegations of cheating. This discord led to their divorce in December of the same year. Paul and Anita found themselves in Detroit, USA, attending the Afro Nation concert with their children. They shared videos capturing the family moments, emphasizing their commitment to co-parenting and creating a positive environment for their kids. Anita took to her social media to express her overwhelming emotions during this experience. "The Afronation was a magical moment. My children not only watched their father perform for the first time but also joined him on the stage. Seeing their eyes light up next to their Papa and Uncle Papa, creating memories that I know will be cherished forever. My heart is brimming with pride and emotions. These are memories they'll hold close forever," she shared. In August 2021, Anita filed for the dissolution of their seven-year marriage, citing irreconcilable differences as the underlying cause. On December 20th, an Abuja High Court in the Federal Capital Territory, Maitama, granted her request for separation. Among her accusations were "infidelity, alleged separation, absentee parenting, fraud, and painful experiences." The court documents revealed that the 'Reason with Me' singer had allegedly undermined a joint business deal involving the construction of a mall. Anita claimed to have contributed N10 million to the project, with an agreement to receive space in the completed mall. Paul and Anita's journey began in 2004 when they met during their undergraduate days at the University of Abuja. Their marriage took place on March 22, 2014, in Port Harcourt, Rivers State. Together, they share three children: Andre, as well as twins Nathan and Nadia.