Stanbic didn’t give money to the MPs for the workshop
Jun 26, 2008
EDITOR—We refer to various media reports including a letter by Edith Katusiime on June 23 alleging that Stanbic Bank paid sh3.14m to MPs to attend a pension training workshop in South Africa.
EDITOR—We refer to various media reports including a letter by Edith Katusiime on June 23 alleging that Stanbic Bank paid sh3.14m to MPs to attend a pension training workshop in South Africa.
On June 2, we issued a statement in the press explaining that neither Stanbic Bank nor Stanbic Investments gave money to MPs for the East Africa Executive Trustee Training Workshop held in Johannesburg early this year. The following facts will set the record straight:
- Stanbic Investments is a subsidiary of Stanlib, an international wealth and asset management company that is part of the Standard Bank Group based in South Africa. The Group is also the parent company of Stanbic Bank Uganda.
- In a bid to enhance capacity in the pension industry in Africa, Stanbic Investments conducts numerous skills development programmes for personnel involved in pension fund administration and management in Uganda and the whole of Africa.
- No monetary benefits are accorded under these programmes.
lThe training is not offered in expectation of any positive business consideration from the beneficiaries of such training. In fact neither Stanbic Bank nor Stanbic Investments has responded to any tender to manage or hold in custody the funds of the Parliamentary Pension Scheme. We wish to assure the public that we uphold integrity as our core value.
Daniel K. Nsibambi
Communications Manager
Stanbic Bank
On June 2, we issued a statement in the press explaining that neither Stanbic Bank nor Stanbic Investments gave money to MPs for the East Africa Executive Trustee Training Workshop held in Johannesburg early this year. The following facts will set the record straight:
- Stanbic Investments is a subsidiary of Stanlib, an international wealth and asset management company that is part of the Standard Bank Group based in South Africa. The Group is also the parent company of Stanbic Bank Uganda.
- In a bid to enhance capacity in the pension industry in Africa, Stanbic Investments conducts numerous skills development programmes for personnel involved in pension fund administration and management in Uganda and the whole of Africa.
- No monetary benefits are accorded under these programmes.
lThe training is not offered in expectation of any positive business consideration from the beneficiaries of such training. In fact neither Stanbic Bank nor Stanbic Investments has responded to any tender to manage or hold in custody the funds of the Parliamentary Pension Scheme. We wish to assure the public that we uphold integrity as our core value.
Daniel K. Nsibambi
Communications Manager
Stanbic Bank