28 , Thursday, July 6, 2017 Business & Tenders Firms pool resources to insure oil, gas What are your thoughts on the addition to this, we are regulated How prepared is the insurance current economic downturn independently by the Insurance industry and Gold Star that has left businesses Regulatory Authority, who have insurance in particular, for struggling? continuously found us financially bancassurance? The post 2017 national budget sound and solid with adequate As already mentioned, QA speeches and commentaries have reserves and reinsurance capacity Bancassurance is one of our 2017 made interesting reading. It is good both to carry our current risks strategies. We have already sought The Insurance Regulatory Authority of to know that the finance minister, and also the ability to pay claims pre-qualification and presented released preliminary results of Matia Kasaija, reassured the nation effortlessly without any concern or to some of the commercial banks the insurance industry earlier this month. that the country is not in recession. difficulty. We can also report that we intend to work with. The Paul Kavuma, the deputy managing The economy is likely to blow hot we continue to maintain our current bancassurance modules can be director at Goldstar Insurance Company, and cold. The economic indicators practising licence for the period 2017 varied and a basic consumer spoke to Business Vision about the such as energy or call it electricity, to ensure continuity of service to our approach will certainly be a perfect performance of the insurance industry can be a formidable economic driver existing and prospective clients. fit under the circumstances and and that of Goldstar for industrialisation. It is reported easier to integrate with the banks. that we currently have next to How prepared is the industry to : The authority recently same growth. The projects that had excess power supply. However, it insure oil and gas risks? There is a proposal to increase Qreleased the industry been identified for 2016 were put on is still highly unlikely that we shall We have constituted an oil and third party insurance limits to performance report and the hold and hopefully we shall realise see an increase in industrialisation energy pool. The main objective is about sh5m and also extend insurance sector has grown these in 2017. The indications for because of availability of power, to pool our resources and capacities the scope of coverage to include slower than projected this year. some of these are already positive but due to lack of market for together as an industry to garner property damage, what is your How has Goldstar Insurance so far. inputs and outputs. Therefore, the for these risks to the extent of our take on that? fared this year compared to last much-cherished surplus power individual subscriptions. This is We have for long, as an industry, year? What do you think are the areas can unfortunately be dubbed as an certainly a rather highly volatile made an outcry for this. The current : We experienced slow growth with growth potential for the inventory item on achievements sector that requires a well thought statutory limits of liability are Aagainst our anticipated budget insurance industry? of government. To realise growth, out process with tight reinsurance too dismal to settle the imminent and the overall economic factors As mentioned above, Bancassurance the Government must be seen to support. Like they say, you must medical claims we receive resulting can account for this shortfall for will certainly be a major growth increase its micro expenditure to have a beginning to start with and from accidents to third party the period 2015 to 2016. We can, avenue. The uptake of agriculture boost the obvious sectors such as demonstrate your appetite for risk. claimants, let alone in the event of a however, boast and report that insurance is now rife with good agriculture, which is predominantly We are also using this as a platform death. Ultimately, this has negatively our renewal retention at Goldstar government support extending our lifeline. to generate interest with the oil impacted on our image as an stood at 90%, with the non- a premium subsidy fund. This players; Tullow and China National industry. renewed business accounted for as happens to be one of the major was a big part of Offshore Oil Corporation (CNOOC) The intended raise in the limits either project-based as specific to cornerstones for the 2017 national the Ruparelia Group operations. to demonstrate to them that we will lift the image of the industry requirement or not renewable by budget. Therefore, the set up and How has Goldstar been affected can take on the peripheral risk that and make the third party motor nature like one of risks. our being part of Agricultural by its sale? supports the main activities in the oil sticker a worthy possession to As an industry, the exponential Insurance Consortium could not Certainly, the nexus between us fields. Uganda Insurers Association assist in the event of an accident, growth for 2015 can be explained as have come at a better time. The and our associated company Crane has taken the initiative and rallied all for compensation for either injuries a result of two major projects namely industry has also undertaken a self- Bank is very close. The nature member companies to ensure that or death. The industry has also the Karuma and Isimba hydro power regulatory avenue to tame unhealthy of the financial services sector we are registered to be prequalified stipulated standard guidelines to dams. It would, therefore, follow that competition by ensuring that all large that we subscribe to is such that as service providers under the ease the claims processing and as an industry, we are required to risks are pooled together to garner we can confirm independence in National Oil and Petroleum pursuit by claimants making it write similar projects to match the the necessary capacities. both practice and operations. In Authority data base. hustle-free.

Plot 3-5 New Road, UAP Business Park, P.O. Box 28487, Uganda NOTICE OF INVITATION TO BID 1. The Uganda National Roads Authority invites sealed bids from eligible bidders for: Table 1: 1. The Government of the Republic of Uganda earthworks, granular pavement layers, b. An International consultancy firm for has applied for the financing in the amount of asphalt pavement, paved shoulders, retaining Component 2 will be selected from a short- Procurement US$210.0 million equivalent from the Islamic structures, gabion walls, bridges, culverts, list of 6 to 8 International Consultancy firms No. Subject matter of procurement Bid security Reference No. Development Bank to finance the Upgrading pipe culverts, road side drainage system, limited to IDB member countries based on of the Rwenkunye-Apac-Lira-Puranga Road installation of road safety devices, weighing Quality and Cost Based Selection (QCBS) Design and Build of Bridges- project, and intends to apply part of the stations, construction of roadside facilities method as defined in IDB Guidelines for the Construction Of Strategic proceeds to payments for goods, works, such as laybys, bus stops and waiting Use of Consultants. related services and consulting services to area, service areas, emergency stopovers c. The PMU equipment and furniture as well Bridges On The National be procured under this project. environmental mitigation measures, etc., and as two vehicles under Component 3 would Network; 2. The objectives of the Project are to: a) other associated miscellaneous civil works. be procured through National Shopping Lot 1: Sironko Bridge in Mbale Upgrade 191 km of existing Gravel road b. Component 2: Consulting Services: includes procedures as defined in IDB Guidelines for UNRA/WORKS/ District, Chololo in Nakapiripirit UGX 500,000,000 between Rwenkunye, Apac, Lira and Puranga consulting services for Detailed Design Procurement of Goods and Works, dated 1 towns to Asphaltic Paved road Standard Review and Construction Supervision of May 2009. 2016-17/00038/01 District, and Kibimba in Bugiri to among others to reduce on travel time, Civil Work Contracts under the Project. The d. The project financial auditor under District. operational cost and economic losses, Consultant will ensure high Standards of Component 4 will be selected from a short- increase comfort, safety and reliability during Construction, compliance with established list of internationally reputed local audit Lot 2: Jure Bridge On Atiak- travel, meet current and future transport Highway Safety Standards, specifications firms based on Least Cost selection method Adjumani-Moyo- Yumbe-Manibe demands; and b) help accelerate economic with special emphasis to the Road Safety, as defined in IDB Guidelines for the Use of UNRA/WORKS/ Road & Amou Bridge On Laropi- activities by improving access of people to Highway Drainage and Environmental Consultants. 2 UGX 200,000,000 social amenities, market places, business mitigation measures. Also, provide on- 6. Specific procurement notices for the above 2016-17/00038/02 Palorinya-Obongi Road, In (Moyo and employment opportunities resulting job training to selected UNRA Staff during contracts will be announced separately DLG) in the Northern Region of from improved internal and sub-regional Project Implementation. through international and regional connectivity and economic growth. c. Component 3: Project Management newspapers, concerned Embassies, Uganda. 3. The project is targeting Upgrading of 191 Support (PMU): includes purchase of Office Consulates and Local representatives of IDB Lot 3: Design and Build of 3 Km 2-lane existing earthen/gravel roadway Equipment, Furniture, two Vehicles, etc. Member Countries, email list, IDB website, UNRA/WORKS/ strategic bridges in Arua district; to Asphaltic Paved Road Standard which d. Component 4: Financial Audit: includes Uganda National Roads Authority Website 3 UGX 200,000,000 connects the Western part with the Northern auditing of project’s financial statements, (www.unra.go.ug), and Public Procurement 2016-2017 /00038/03. Alla (Anzuu), Gazi (Rhino Camp), parts of Uganda. It traverses through its accounts, utilization of budget, special and Disposal of Assets Authority (PPDA) Aca (Rhino camp). four districts and connects several local account and other financial aspects by an tender portal (www.ppda.go.ug), as they trading centers and villages to the District independent, qualified and well experienced become available. UNRA/SPLS/ Supply and Commissioning of UGX 25,000,000 Headquarters of Masindi, Apac, Lira and local financial audit firm. 7. Interested eligible bidders who wish to 4 2016-17/00056 Mobile Portable Scissor Bridge for Pader. The road is part of the Lira – Kitgum 5. The overall procurement process will be be included on the email list to receive – Musingo road which is a link to Southern conducted in accordance with IDB Guidelines invitations for prequalification/bid under ICB/ Emergency Response Sudan. The road link starts at Rwekunye for the Procurement of Goods and Works and MC procedures and interested Consultants in Masindi District on the Kampala – Gulu conditions of the Financing Agreement. The who wish to receive a copy of advertisement 2. Bid document(s) shall be inspected and issued at; highway runs through Masindi Port where IDB Standard Pre-Qualification Documents, requesting expressions of interest for there is a ferry crossing across the Nile River, Bidding Documents, Standard Bid Evaluation consultancy contracts, or those requiring Directorate of Procurement and Apac Town, Lira Town and terminates at Report Form and Standard Contracts shall be additional information should contact the Uganda National Roads Authority, Puranga in Pader District. The Project scope used as noted below: address below: includes all works related to Upgrading of the a. The two (2) lots under Civil Works Component 1 would be procured through Plot 3-5, New Port Bell road, UAP Nakawa Business Park, existing 2-lane earthen/gravel roadway to two The Head, Procurement and Disposal Unit, International Competitive Bidding (ICB) 3.5m wide traffic lanes (7 meters asphaltic Uganda National Roads Authority On Block D, First Floor, P. O. Box 28487 procedures with prequalification of bidders carriageway), 1.5m paved shoulders on each In Kampala, Uganda, Tel: +256312233100 as defined in IDB Guidelines for Procurement Plot 3-5, New Port Bell Road side. UAP Nakawa Business Park Fax: +256 414232807/ +256 414347616 of Goods and Works, dated May 2009. 4. The project comprises the following Firms would be allowed to prequalify and First Floor, Block D Email: [email protected] components: bid for both lots and sign single or multiple P. O. Box 28487, Kampala, Uganda a. Component 1: Civil Works for Primary Road contracts. Multiple contracts will be awarded Tel:+ 256 (0) 312 233 100/(0) 414 318 000 Construction: includes all works related to to a bidder offering the lowest evaluated cost Fax: + 256 414 232 807/347 616 3. The detailed bid notice is available at the entry’s website at www.unra.go.ug. Upgrading of 191 km long existing Earthen/ for combined lots provided that it meets the E-mail: [email protected] Gravel Roadway to Asphaltic Road Standard required qualification criteria for combination EXECUTIVE DIRECTOR in two lots. Major work items include of lots. EXECUTIVE DIRECTOR