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Jacqueline Muna Musiitwa is an international lawyer and an expert in African commercial affairs and innovative problem solving.

She served as legal counsel and assistant to the chief executive and president of the Eastern and Southern African Trade and Development Bank and was chief legal and investor relations director at Microcred Africa.

She has served as advisor to the director general of the World Trade Organisation on matters of trade, economic integration and global governance and has been an advisor to several African governments on trade, investment and energy. She has at various times served on the boards of several financial institutions across the continent.

In academia, she has been an adjunct professor of law at universities in the US and Rwanda.

She holds a Bachelor of Arts from Davidson College and a Juris Doctor from the University of Melbourne, Australia.


Why are many Ugandans still excluded from financial services?

Historically, only the Post Office and banks provided access to financial services. Banks, however, were expensive and did not extend services deep into rural areas, on top of their products, especially loans, being typically not suited for the poor or people with unpredictable earning cycles. Mandatory collateral also locked out women and youth.

What should be done to reach more women with financial services, especially women-owned small- and medium-sized enterprises?

Financial services providers need to make services accessible through mobile money and agency banking; use human-centred design principles and be more women-centric in their marketing by demonstrating how financial service providers can cater to women’s financial needs.

I am hopeful that with the enactment of the National Payment Systems Act, improvements in infrastructure such as agency banking, and the introduction of more affordable products by mobile phone, more people will be able to get the financial products they need. The goal is financial access to decrease financial vulnerability.

Providers should think of how to sell products, for example, account holders should be able to seamlessly deposit and withdraw mobile money, get insurance and other products that fulfil their financial needs.

Why are there fewer women in top corporate executive positions in Uganda?

As they advance in their careers, it becomes difficult to balance personal lives with work and meet cultural expectations. Many opt out even before they hit the peak of their careers. This is a global issue. Ultimately, women should make the best decision for their personal circumstances.

What can be done to ensure that women take up top business executive positions in Uganda?

Companies need to take chances on women and offer them leadership roles without imposing penalties on motherhood. Until the situation improves, there should be a form of affirmative action where the board and management of companies decide and commit to the number of women to attract and retain.


What is the importance of having women on company boards?

Diversity is important for many reasons. First, companies have diverse stakeholders and need to cater to all of them. Putting systems in place that create opportunities for diverse perspectives ensures that boards make decisions with wider perspectives.

Second, research has shown that boards with more women register better financial performance.

Third, in addition to gender parity on boards, I’m believe having more young people on boards is beneficial because they understand changing market trends.

Why do we have so few women on boards in Uganda?

Nomination to boards tends to be a matter of insider networks. Most large businesses in Uganda are owned or run by men. As such, men reach out to their networks, which are predominantly male. It is important for men with such influence to nominate women to boards.

Women board directors also have a responsibility to help others follow in their footsteps. There are initiatives such as the one by the Capital Markets Authority and Uganda Security Exchange to increase diversity on the boards of listed companies.

How best would you describe your career?

I’m a curious person, so I have been open to opportunities as they arise. I am also daring, so I am not afraid of new tasks, even in areas where I am not very knowledgeable. I studied law because I knew that it would give me access to a variety of career options.

How have you overcome male chauvinism in your career?

I’m confident in my expertise so I don’t give room to bullies or allow myself to be get mansplained. I think it’s important to draw the line and not tolerate bad behaviour. Within organisations I have worked for, I have championed the creation of policies and processes that protect employees from harassment.

What is the secret of your success?

As much as I am agile, passionate about making a difference in the world, optimising my networks and continuing to learn to be competitive, a lot has to do with luck and God’s plan.

What would you have been if you had not become a lawyer?

I had considered pursing a Masters in Public Health or a PhD in Political Science. I still may pursue a PhD, but in a more interdisciplinary field that touches on technology. I have been admitted to the Harvard Kennedy School’s Mid-Career Masters of Public Administration so that could be a step towards a PhD.

Why do you find commercial affairs and innovative problem solving exciting?

My professional mission has been market systems development. I have tackled this in law, policy and finance. I like the fact that Africa is a constantly changing business environment, one that requires people to constantly solve problems. It will take a critical mass of problem solvers to find solutions to the numerous challenges.

What is your greatest professional achievement to date?

Having worked to pay for and complete my education.

Who are the people who have influenced you the most in your professional career?

My mother. She has been supportive of my decisions even when I was taking risky career decisions. She has been a professor of education policy and is now the deputy vice chancellor designate of the Zambian Open University.



Sordid tale of the bank ‘that would bribe God’




Bank of Credit and Commerce International. August 1991. [File, Standard]

“This bank would bribe God.” These words of a former employee of the disgraced Bank of Credit and Commerce International (BCCI) sum up one of the most rotten global financial institutions.
BCCI pitched itself as a top bank for the Third World, but its spectacular collapse would reveal a web of transnational corruption and a playground for dictators, drug lords and terrorists.
It was one of the largest banks cutting across 69 countries and its aftermath would cause despair to innocent depositors, including Kenyans.
BCCI, which had $20 billion (Sh2.1 trillion in today’s exchange rate) assets globally, was revealed to have lost more than its entire capital.
The bank was founded in 1972 by the crafty Pakistani banker Agha Hasan Abedi.
He was loved in his homeland for his charitable acts but would go on to break every rule known to God and man.
In 1991, the Bank of England (BoE) froze its assets, citing large-scale fraud running for several years. This would see the bank cease operations in multiple countries. The Luxembourg-based BCCI was 77 per cent owned by the Gulf Emirate of Abu Dhabi.  
BoE investigations had unearthed laundering of drugs money, terrorism financing and the bank boasted of having high-profile customers such as Panama’s former strongman Manual Noriega as customers.
The Standard, quoting “highly placed” sources reported that Abu Dhabi ruler Sheikh Zayed Sultan would act as guarantor to protect the savings of Kenyan depositors.
The bank had five branches countrywide and panic had gripped depositors on the state of their money.
Central Bank of Kenya (CBK) would then move to appoint a manager to oversee the operations of the BCCI operations in Kenya.
It sent statements assuring depositors that their money was safe.
The Standard reported that the Sheikh would be approaching the Kenyan and other regional subsidiaries of the bank to urge them to maintain operations and assure them of his personal support.
It was said that contact between CBK and Abu Dhabi was “likely.”
This came as the British Ambassador to the UAE Graham Burton implored the gulf state to help compensate Britons, and the Indian government also took similar steps.
The collapse of BCCI was, however, not expect to badly hit the Kenyan banking system. This was during the sleazy 1990s when Kenya’s banking system was badly tested. It was the era of high graft and “political banks,” where the institutions fraudulently lent to firms belonging or connected to politicians, who were sometimes also shareholders.
And even though the impact was expected to be minimal, it was projected that a significant number of depositors would transfer funds from Asian and Arab banks to other local institutions.
“Confidence in Arab banking has taken a serious knock,” the “highly placed” source told The Standard.
BCCI didn’t go down without a fight. It accused the British government of a conspiracy to bring down the Pakistani-run bank.  The Sheikh was said to be furious and would later engage in a protracted legal battle with the British.
“It looks to us like a Western plot to eliminate a successful Muslim-run Third World Bank. We know that it often acted unethically. But that is no excuse for putting it out of business, especially as the Sultan of Abu Dhabi had agreed to a restructuring plan,” said a spokesperson for British Asians.
A CBK statement signed by then-Deputy Governor Wanjohi Murithi said it was keenly monitoring affairs of the mother bank and would go to lengths to protect Kenyan depositors.
“In this respect, the CBK has sought and obtained the assurance of the branch’s management that the interests of depositors are not put at risk by the difficulties facing the parent company and that the bank will meet any withdrawal instructions by depositors in the normal course of business,” said Mr Murithi.
CBK added that it had maintained surveillance of the local branch and was satisfied with its solvency and liquidity.
This was meant to stop Kenyans from making panic withdrawals.
For instance, armed policemen would be deployed at the bank’s Nairobi branch on Koinange Street after the bank had announced it would shut its Kenyan operations.
In Britain, thousands of businesses owned by British Asians were on the verge of financial ruin following the closure of BCCI.
Their firms held almost half of the 120,000 bank accounts registered with BCCI in Britain. 
The African Development Bank was also not spared from this mess, with the bulk of its funds deposited and BCCI and stood to lose every coin.
Criminal culture
In Britain, local authorities from Scotland to the Channel Islands are said to have lost over £100 million (Sh15.2 billion in today’s exchange rate).
The biggest puzzle remained how BCCI was allowed by BoE and other monetary regulation authorities globally to reach such levels of fraudulence.
This was despite the bank being under tight watch owing to the conviction of some of its executives on narcotics laundering charges in the US.
Coast politician, the late Shariff Nassir, would claim that five primary schools in Mombasa lost nearly Sh1 million and appealed to then Education Minister George Saitoti to help recover the savings. Then BoE Governor Robin Leigh-Pemberton condemned it as so deeply immersed in fraud that rescue or recovery – at least in Britain – was out of the question.
“The culture of the bank is criminal,” he said. The bank was revealed to have targeted the Third World and had created several “institutional devices” to promote its operations in developing countries.
These included the Third World Foundation for Social and Economic Studies, a British-registered charity.
“It allowed it to cultivate high-level contacts among international statesmen,” reported The Observer, a British newspaper.
BCCI also arranged an annual Third World lecture and a Third World prize endowment fund of about $10 million (Sh1 billion in today’s exchange rate).
Winners of the annual prize had included Nelson Mandela (1985), sir Bob Geldof (1986) and Archbishop Desmond Tutu (1989).
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Monitor water pumps remotely via your phone

Tracking and monitoring motor vehicles is not new to Kenyans. Competition to install affordable tracking devices is fierce but essential for fleet managers who receive reports online and track vehicles from the comfort of their desk.

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Agricultural Development Corporation Chief Accountant Gerald Karuga on the Spot Over Fraud –




Gerald Karuga, the acting chief accountant at the Agricultural Development Corporation (ADC), is on the spot over fraud in land dealings.

ADC was established in 1965 through an Act of Parliament Cap 346 to facilitate the land transfer programme from European settlers to locals after Kenya gained independence.

Karuga is under fire for allegedly aiding a former powerful permanent secretary in the KANU era Benjamin Kipkulei to deprive ADC beneficiaries of their land in Naivasha.

Kahawa Tungu understands that the aggrieved parties continue to protest the injustice and are now asking the Ethics and Anti-corruption Commission (EACC) and the Directorate of Criminal Investigations (DCI) to probe Karuga.

A source who spoke to Weekly Citizen publication revealed that Managing Director Mohammed Dulle is also involved in the mess at ADC.

Read: Ministry of Agriculture Apologizes After Sending Out Tweets Portraying the President in bad light

Dulle is accused of sidelining a section of staffers in the parastatal.

The sources at ADC intimated that Karuga has been placed strategically at ADC to safeguard interests of many people who acquired the corporations’ land as “donations” from former President Daniel Arap Moi.

Despite working at ADC for many years Karuga has never been transferred, a trend that has raised eyebrows.

“Karuga has worked here for more than 30 years and unlike other senior officers in other parastatals who are transferred after promotion or moved to different ministries, for him, he has stuck here for all these years and we highly suspect that he is aiding people who were dished out with big chunks of land belonging to the corporation in different parts of the country,” said the source.

In the case of Karuga safeguarding Kipkulei’s interests, workers at the parastatals and the victims who claim to have lost their land in Naivasha revealed that during the Moi regime some senior officials used dubious means to register people as beneficiaries of land without their knowledge and later on colluded with rogue land officials at the Ministry of Lands to acquire title deeds in their names instead of those of the benefactors.

Read Also: Galana Kulalu Irrigation Scheme To Undergo Viability Test Before Being Privatised


“We have information that Karuga has benefitted much from Kipkulei through helping him and this can be proved by the fact that since the matter of the Naivasha land began, he has been seen changing and buying high-end vehicles that many people of his rank in government can’t afford to buy or maintain,” the source added.

“He is even building a big apartment for rent in Ruiru town.”

The wealthy officer is valued at over Sh1.5 billion in prime properties and real estate.

Last month, more than 100 squatters caused scenes in Naivasha after raiding a private firm owned by Kipkulei.

The squatters, who claimed to have lived on the land for more than 40 years, were protesting take over of the land by a private developer who had allegedly bought the land from the former PS.

They pulled down a three-kilometre fence that the private developed had erected.

The squatters claimed that the former PS had not informed them that he had sold the land and that the developer was spraying harmful chemicals on the grass affecting their livestock and homes built on a section of the land.

Read Also: DP Ruto Wants NCPB And Other Agricultural Bodies Merged For Efficiency

Naivasha Deputy County Commissioner Kisilu Mutua later issued a statement warning the squatters against encroaching on Kipkuleir’s land.

“They are illegally invading private land. We shall not allow the rule of the jungle to take root,” warned Mutua.

Meanwhile, a parliamentary committee recently demanded to know identities of 10 faceless people who grabbed 30,350 acres of land belonging to the parastatal, exposing the rot at the corporation.

ADC Chairman Nick Salat, who doubles up as the KANU party Secretary-General, denied knowledge of the individuals and has asked DCI to probe the matter.

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William Ruto eyes Raila Odinga Nyanza backyard




Deputy President William Ruto will next month take his ‘hustler nation’ campaigns to his main rival, ODM leader Raila Odinga’s Nyanza backyard, in an escalation of the 2022 General Election competition.

Acrimonious fall-out

Development agenda

Won’t bear fruit

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