Umbrella causes bank war in Jinja

Nov 09, 2017

Although under UNOC, the terminal is managed by a private firm, One Petroleum, which got funding from Equity Bank Uganda to refurbish the facility

Malcom Noronha under a Standard Chartered Bank branded umbrella. Photos by Tony Rujuta

During the official handover of the Jinja Storage Terminal by the energy ministry to the Uganda National Oil Company (UNOC) recently, the only battle of brands one could have anticipated — remotely, was maybe one between the oil companies that use the terminal.

However, the ‘battle' was not between Stabex International and Vivo Energy — but rather between two banks; Equity Bank and Standard Chartered Bank, and not over who has better credit facilities, but rather over an umbrella!

Although under UNOC, the terminal is managed by a private firm, One Petroleum, which got funding from Equity Bank Uganda to refurbish the facility.

So when Malcom Noronha, the managing director of One Petroleum stood up to give his speech, and the scorching sun, a quick thinking staffer rushed  to hold an umbrella over his head.

There was one problem though; the umbrella had the branding of a rival bank to One Petroleum's banking partner — and Noronha saw the funny side of it.

 

 n quity ank branded umbrella was brought up after oronhas joke An Equity Bank branded umbrella was brought up after Noronha's joke

"Nothing is built alone. To build all of this, our staff has been very instrumental, without our customers, many of who are present here; we would not be where we are, and most of all, our banking partners; Equity. I am sorry I am standing under (the umbrella of) Standard Chartered," he said, prompting a fit of laughter from dignitaries at the occasion.

 "Maybe next time, I will stand under (the umbrella of) Equity," he said, joining the rest of the crowd in laughter

The Equity Bank representatives at the event were not about to take this laying on the ground, one of them rushed to their car, and brought with him an Equity Bank branded umbrella and the black Standard Chartered umbrella was shelved—far, far away.

Moments later, Titus Kisambiro, the Jinja LC5 chairperson took to the podium — and for a few moments, there was no umbrella above his head, and he seized his moment to get into the umbrella ‘battle."

 "I do not know whether I have been deprived the privileges of having an umbrella over my head, be it Standard Chattered or Equity Bank," he said, igniting fresh laughter among the small gathering.

"I will not mind though being without one, as these banks all have branches in my district," he said.

 

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