Qalaa Holdings, Saudi Arabia Financing Company in Sale, Purchase Agreement

Qalaa Holdings Founder and Chairman Dr Ahmed Heikal

The Court of Appeal on Thursday upheld the death sentence of Thomas Nkurungira, link alias  Tonku the man who murdered his girl friend and dumped her body in a septic tank.

Brenda Karamuzi’s body was recovered on January 30th 2010 at Kijjwa zone Bukasa in Muyenga by fumigators.

Three Justices led by Augustine Nshimye concurred with High Court Judge Albert Rugadya Atwooki that there is overwhelming evidence that 27 year old Karamuzi was killed by Tonku at his house between 22 and 23 January 2010 when she was last seen.

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They also ruled that Tonku’s defense and conduct well placed him at the scene of crime when he told Karamuzi’s relatives  that he last saw the deceased on the morning of January 22, 2010 at his house and that they should try to find their missing daughter at the Mortuary.

The Justices observed that the presence of Karamuzi’s blood, brain matter, a killer weapon [hoe], her bags and Tonku’s blood stained clothes as well as the body with a  shattered skull in the septic tank could not have been planted at Tonku’s house as he wanted court to believe.
Uganda and the Climate Investment Funds (CFI) are Thursday celebrating the endorsement of the country’s renewable energy investment plans under the CIF’S dedicated fund for Scaling Up Renewable Energy in Low Income Countries Program (SREP).

SREP funding of $50 million will help advance geothermal exploration, information pills solar photovoltaic net metering, recipe the building of mini-grids and the development of wind power in the east African country.

Uganda is placing energy at the forefront of its social economic development.

“With a population of 35 million, more than 29 million people in Uganda do not have access to electricity,” says SREP senior program coordinator Zhihong Zhang.

The SREP funding endorsed today, he says, “will help tackle this challenge by supporting Uganda in developing indigenous renewable energy resources and will offer opportunities for development even in remote areas of the country.”

“Aside from hydropower, geothermal, solar power and wind all offer lots of potential for Uganda,” he added.

“Ugandans have the potential to change the energy sector in the country and attract investment from other sources in the long-run.”

According to James Baanabe, Uganda’s Commissioner of the Energy Efficiency and Conservation Department in the Ministry of Energy and Mineral Development energy is the driver of social economic development.

“Adequate and reliable renewable energy is vital to our vision of becoming a prosperous country within 30 years,” Baanabe said.

“Uganda is blessed with a number of renewable energy sources.  SREP will contribute to the development of our renewable energy for the social and economic development of our country.” he added.
Qalaa Holdings, more about an African leader in infrastructure and industry, viagra approved has Thursday announced that its business unit Gozour, treatment has signed a sale and purchase agreement – with Saudi Arabia’s Olayan Financing Company and its subsidiaries – for the sale of 100% of confectioner Rashidi El-Mizan, for a total consideration (equity value) of $ 65 million.

Qalaa Holdings currently has an effective ownership of 55% in Rashidi El-Mizan.

According to Qalaa Holdings, in addition to Qalaa’s proceeds from the sale, the transaction further delivers on Qalaa’s strategy for 2015 with a key element being deleveraging at the holding and platform company levels.

Aa further $ 30 million in debt will be deconsolidated from Qalaa’s consolidated financial statement as a result of the transaction.

Qalaa holdings divulged that EFG Hermes acted as Financial Advisor and Arab Legal Consultants as Legal Advisor to Qalaa Holdings on the transaction.

CI Capital acted as Financial Advisor and Helmy, Hamza & Partners  as Legal Advisor to Olayan Financing Company.


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