Roads leading to caretaker President’s office blocked off

first_img…to prevent protest against Govt – Police…commuters complain bitterly of inconvenienceIt was chaos in the capital city on Tuesday, after all roads leading to the Ministry of the Presidency were blocked off by the Guyana Police Force (GPF) – which said it was instructed to do so to prevent any protests against the Government.Some of the roads and bridges which were blocked by the Guyana Police Force“The Office of the President is being cordoned off due to anticipated protest action by whatever political party or nongovernmental organisation,” a Police source informed Guyana Times.The Police Force blocked Vlissengen Road between North Road and Homestretch Avenue, South Road between Oronoque and Vlissengen Road, Charlotte Street between Oronoque St and Shiv Chanderpaul Drive and Regent Road between Shiv Chanderpaul Drive and Vlissengen Road, Georgetown.While no protest actions were planned, the Police source said the roads were blocked “just in case”.Abuse of authorityCustomarily, during protests against the Government, persons would assemble on Vlissengen Road outside of the Ministry of the Presidency.It is unclear why instructions would be given to the GPF to restrict citizens from exercising their democratic right to freedom of expression.The blocking off of the roads ignited the ire of many road users who took to social media to complain bitterly about how the alleged abuse of authority has inconvenienced them.The current coalition Government has been recognised by the international community as operating outside of international standards of democracy – following its failure to hold elections in accordance with the country’s Constitution.The roads were blocked off at a time when caretaker President David Granger was meeting with his Cabinet to discuss a possible date for elections, given that the Chairperson of the Guyana Elections Commission (GECOM) had last week informed that the entity would be ready for the polls by the end of February 2020.The blocking off of the roads also comes after there was a massive candlelight vigil on the Railway Embankment Road Monday night outside of the Arthur Chung Conference Centre – where caretaker President David Granger delivered the feature address at Chinese Government event.That incident resulted in the Police riot squad being called out to stand-off with peaceful protesters and the blocking off of the road, causing a major traffic build-up during the evening rush hour.The protesters, comprising of civil society and supporters of the People’s Progressive Party/Civic (PPP/C) expressed concerns about the legitimacy of the current Government.The protesters were also calling on the Head of State to announce a date for elections.Already, the Commonwealth, as well as the United States of America, the United Kingdom, the European Union, Guyana’s private sector and members of civil society have recognised the current Government as being in breach of the country’s Constitution.last_img read more

Telecomfused?

first_img 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Are your telecom bills making your head spin? They should be. Just the basics – local phone service, long distance, cell phones, Internet and television channels – make up a dizzying five bills every month. To simplify things, big phone and cable companies are aggressively promoting bundles of services that appear to offer savings – at least on the surface. But consumer advocates warn shoppers: Read the fine print before signing up. “What appears to be a great deal might at the end of the day cost you more than individual services,” said Jeannine Kenney, senior policy analyst at the advocacy group Consumers Union. That’s because most of the bundled packages are for new customers only, and many expire after an introductory period. After that, prices jump. Woodland Hills accountant Eric Vancronk said a combination of cable TV and digital phone service was $120 a month when he signed up with Time Warner recently. But after six months, the price jumped to $150 a month, he said. Vancronk knows what the long-term price will be, but a lot of people who sign on may not realize the promotional price is temporary. Another charge customers may not be aware of when they sign up is equipment rental costs, like TV set cable boxes. Finally, consumers must pay attention to which promotions are only available online. For instance, AT&T’s $39.94 per month all-distance phone deal has to be ordered online. And price quotes never include taxes and fees, which add up to a lot for phone service. “It becomes very difficult for consumers to decipher what they’re paying,” Kenney said. Entrepreneur Patrick Oborn started two telecommunication companies, CheapRates.com, a price comparison service, and Telarus, a commercial-use broadband sales company. “Consumers have been ripped in a million pieces,” Oborn said. “In the space of four or five years, we went from just having phone service to having phone, DSL, wireless.” Add to that Internet, or digital, phone service. Oborn said his sister-in-law, who is not technologically savvy, recently watched a commercial for Vonage, the Internet phone company, and had no idea what it was selling. Packaging services is not new. But with the merger of SBC and AT&T last summer, the entrance of Time Warner Cable into the Los Angeles market, and the introduction of digital phone service, cable and telecom companies are launching more aggressive promotions. AT&T’s Quad Pack includes Yahoo high-speed Internet, TV channels through Dish Network, Cingular wireless and nationwide calling for about $130 a month to start. Time Warner Cable, which took over most of the L.A. market as part of its acquisition last year of Adelphia Cable, is offering a triple-play package of cable TV, high-speed Internet and unlimited nationwide digital phone over a broadband line for as low as $110. Currently, the average U.S. household spends about $43 a month for local and long-distance phone service, $23 for Internet, $63 for cell phone and $51 for cable or satellite TV, according to TNS Telecoms, a research firm that focuses on telecommunications services. That totals about $180 a month, up from $125 in 2000. To compare, AT&T’s individual service prices are $39.99 for local and long distance, $19.99 for the cheapest high-speed Internet connection, $39.99 for cell phone service, and $30.97 for basic cable. But that is for fewer cell phone minutes or cable channels than most people want, and it doesn’t include fees and equipment costs. Easy bundles The bundles do offer convenience, especially when they make customer service easier. That’s one area in which the cable companies have an advantage over the telecommunication companies, said Oborn. “Verizon has all the separate departments, and at AT&T there’s such a goulash. At least with the cables, it’s just one company,” he said. Geography can make a lot of the decisions about telecom services for consumers. For instance, residents of Beaumont, in Riverside County, were the first in California to get access last year to Verizon’s fiber-optic television service, FiOS. People who buy homes in The Preserve, a new development in Chino, have fiber-optic cable hookups at their doors. Fiber optics offer better bandwidth and clarity than traditional copper cable. Charter Communications, which serves parts of the Inland Empire including San Bernardino County, offers extended cable and 3Mbps high-speed Internet for less than $60 a month. The company is also preparing to offer digital phone service to its entire coverage area, said Craig Watson, spokesman for Charter’s western division, based in Long Beach. If cable firm and telephone company offerings don’t fit what a consumer is looking for, there are plenty of independents competing for customers in all categories. The main battleground is in the Internet phone space. Vonage is the leader in Internet phone, which runs on the same broadband or DSL line used to connect to the Internet. Other providers are SunRocket and Packet8. Jeff Krumholz, a self-described techie, switched from AT&T phone service to Vonage about a month ago. He said he was paying $150 a month for AT&T. “It’s like, `super size me,”‘ he said. “They get you on the features.” For just under $25 a month, Vonage offers unlimited local and long-distance calling. The catch, said Krumholz, is that the customer still has to pay for an Internet connection. Still, he said he’s saving a bundle, and so far, Vonage seems to be working fine. Besides the attractive price, Internet phone is completely portable and works through an adaptor that users can connect to their PCs, fax machines or regular telephones. Despite its appeal, people are having a hard time separating themselves from wired phone lines. Ringing computers In a survey done last summer by TNS Telecoms, respondents picked the wired phone line as the single most important communications product in the household. Cell phones and high-speed Internet tied for second place. There seems to be a substantial fear factor connected to cutting the phone cord, in part because alternative technology is new, and most people have heard a few horror stories. Internet phone systems access emergency service 911 systems differently, and that has stirred controversy. Last March, a Minnesota homeowner claimed that Vonage was at fault for 911 putting him on hold while his house burned to the ground. (Vonage says its 911 service is more than adequate.) “There’s no reason not to get Vonage, except that you need to accept what you’re getting,” said Jonathon Fishman, founder of Ben’s Ranch, a personal technology company in Santa Monica that makes house calls. “You tolerate an occasional issue with Vonage, and you get enormous cost savings.” Those occasional issues can mean a dropped call or static on the line, depending on the quality of the Internet connection. “I think it’s a great second line,” said Elizabeth Rodgers, a Ben’s Ranch spokeswoman and Fishman’s spouse. “For sure, it’s cheaper.” But Rodgers said she had trouble transferring her phone number between SunRocket and Comcast. “I had a Comcast number and had to switch it to SunRocket. When I wanted to switch it back it took literally 15 hours on the phone. I had a newborn at the time. It was a nightmare.” Still, Fishman said Internet phone is here to stay. “Having a headset on a computer to make and receive calls will evolve into a mainstream solution as the hardware matures.” barbara.correa@dailynews.com (818)713-3662 last_img

HARPS PLEAD WITH PUBLIC TO GET BEHIND THE NEW FINN PARK DREAM

first_imgFinn Harps have appealed to supporters to take an “active role” in ensuring the club can plan for an exciting future in the new stadium currently under construction in Stranorlar.The club believes that the stadium project will offer huge short and long term benefits for both its supporters and the wider Donegal public once completed.But it needs the public to get behind the planned fundraising drive. Following a Government announcement in May, which confirmed that the first drawdown of grant money had been processed, the board of directors updated shareholders and supporters at Wednesday’s EGM on groundwork which has been completed at the new stadium site, and further works about to commence.Harps Chairman Joey O’Leary said that, due to difficult trading conditions, a huge collective effort is required to secure its future in the new Finn Park.“For the last two years the board of directors and I have been consistent in implementing our strategy for the club. Both the operational and playing costs have been significantly reduced, and the emphasis has been on offering younger players an opportunity in the senior game.“Everyone knows there is a desperate shortage of cash in circulation which is making trading conditions very tough for everyone. We have had no home games against Derry or Sligo this season, so our fantastic volunteers have had to work hard and be creative to make sure we cover costs. It is now vital that we adopt a more collective effort and an ‘all hands on deck approach’ over the coming weeks and months.” he said. O’Leary says there are huge incentives for the Northwest public to back the club’s fundraising drive.“We believe the new stadium project offers not just Finn Harps but the region as a whole an exceptional range of sporting and community benefits. The new arena will not only give Finn Harps a platform to develop into one of the leading clubs in the country, but it will also be an FAI Centre of Excellence which will offer that the best local young talent an environment where they can fulfil their potential” he addedThe Harps chairman also emphasised the wider benefits of the project including employment and the potential for the stadium to host large concerts and events.Harps are asking the public to support its two current fundraising ventures, the club’s annual Members/Monster Draw plus the Harps of Donegal CD joint venture with Rehab Donegal services.O’Leary said the Club are also asking Supporters to come forward and help the Club maximise return in both of these vital fundraisers. “There has been extraordinary work behind the scenes to keep senior football in the County and the Stadium offers everyone something special to work towards. Rather than People thinking “you build it and we will come” we are clearly hoping that more people will join us and say “we will help you get there,” he concluded.EndsHARPS PLEAD WITH PUBLIC TO GET BEHIND THE NEW FINN PARK DREAM was last modified: August 25th, 2011 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:finn harpslast_img read more

Wait list is long

first_imgRANCHO PALOS VERDES – One of the best fields of the LPGA season will try again today to finish the Office Depot Championship, which might wind up in the tour record book for the tournament that produced the fewest complete rounds in a single day. All 78 cut survivors will be back in action at Trump National Golf Club, which has combined fog and wind with its traditional fare of spectacular views, tricky bounces and difficult greens, to stretch an extra day out of the tour’s first stop at the oceanside course. Eleven of those leading money winners remain in contention on a course where a bad bounce – and there have been plenty of them – can result in a quick bogey or worse. Weetibix Women’s British Open champion Jeong Jang is one of four players at 7-under-par, including Natalie Gulbis, the 22-year-old U.S. Solheim Cup team member who is bidding for her first tour victory. Hall of Famer Beth Daniel is 6 under in a group of four players, including Marisa Baena, who had a hole-in-one Sunday on the par-4, 154-yard fourth hole. Recent Pepperdine All-American Katherine Hull is at 5 under par, tied with three others. Two-time defending Office Depot champion Annika Sorenstam and former USC star Kim Saiki are part of a three-way tie at 4 under. Sorenstam and Saiki have four holes to play. All the rest have at least five, with 10 remaining for Han, Icher and Jang in competition scheduled to resume today at 8 a.m. “It’s unfortunate for the fans and the event that we have had a little bit of tough weather,” Gulbis said, “because it’s such a good golf course.” Said Sorenstam, the seven-time LPGA Tour Player of the Year who entered the Office Depot with 63 career tour victories: “It was another long day. I thought I played pretty good, though. I hit a lot of good shots and putted well, but it’s a tricky golf course.” Jang, who was tied for the lead before taking a double bogey on her final hole Sunday – the par-3 seventh – was happy with her placement but unhappy her putting. “My short putting is not really good,” she said. “I’m hoping to be better (today). The wind was in my face. Hopefully, (today) will be different.” Gulbis is getting used to different. “Most of the rounds have been pieced together,” she said of an event that has had play halted by darkness after each of its three days. “I don’t think I’ve played a full 18 yet.” But, Gulbis said, it’s not that difficult to adjust. “We deal with this stuff all year,” she said. “On the East Coast, we have tons and tons of weather delays due to thunder and lightning. We’re really used to having late tee times, 5 (p.m.) tee times, and you are used to sitting around all day.” Gulbis definitely doesn’t mind sitting on this course, or having an extra day to take in the views. “A beautiful golf course,” she said. “I can’t get enough of it.” Dave Shelburne, (818) 713-3609 dave.shelburne@dailynews.com 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Leader Hee-Won Han, 9 under par for the tournament thanks in large part to a 65-68 start, got in just eight holes Sunday before play was halted at 6:28 p.m. because of darkness. “It was cold out there,” she said. “I’m tired. I’m better off playing (today). My plan is to do the same thing I’ve been doing, to play aggressive (today) and enjoy myself.” center_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREThe top 10 theme park moments of 2019 Christina Kim, who will open her title defense Thursday at the Longs Drugs Challenge in Sacramento, was on the 18th tee, 12 shots off the lead, when play stopped. Kim will have barely 10 minutes of playing time in her return to the course today, but she got plenty of course time Sunday, when she was one of dozens putting in second consecutive near-12-hour days at the 6,017-yard, par-71 layout located on bluffs overlooking the Pacific Ocean. Seventeen of those players enter extra time today within five shots of leader Han, who holds a two-stroke lead over second-round co-leader Katrine Icher and Catriona Matthew. “I’m happy with my position,” said Matthew, who started the tournament 69-68 and closed Sunday with a birdie on her 11th hole. “It was nice to finish with a birdie.” The Office Depot challengers reflect the quality of this latest edition of the tournament, which is playing at its third venue in five years in Los Angeles and attracted 29 of the tour’s top 30 players for the occasion. last_img read more

DELIGHT AS DONEGAL’S TV3 PRESENTER MICHELLE ANNOUNCES SHE IS PREGNANT

first_imgTV3 presenter Michelle Doherty is expecting her first child with her entrepreneur boyfriend Mark O’Shea.Michelle DohertyDonegal woman Michelle has revealed she is due to give birth at the end of August and is expected to leave the Xposé team in April, when Aisling O’Loughlin returns.Michelle, who is from Malin, joined the Xpose programme in November last. A delighted Michelle said: “Mark and I are absolutely thrilled with the news that we are expecting our first child. Since joining Xposé in November it’s been an absolute whirlwind.“I’m very maternal and have been feeling broody for a while now so I’m over the moon with my news. Both Mark and I are very excited about becoming parents.”“I want to especially thank everyone for welcoming me to Xposé and sending me all their warm wishes on the back of my baby news”.DELIGHT AS DONEGAL’S TV3 PRESENTER MICHELLE ANNOUNCES SHE IS PREGNANT was last modified: February 12th, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:donegalMichelle DohertyTV3last_img read more

HISTORY BOYS AS ST EUNAN’S HURLERS WIN EPIC FIRST U16A HURLING TITLE

first_imgU16 championship hurling A finalThe u16 hurling final was played in the county grounds Convoy on Thursday evening. St Eunan’s faced the league champions Buncrana undefeated at all age groups over the years. Indeed Buncrana club after a magnificent season were on the cusp of delivering a clean sweep of all underage hurling A competitions in 2014. For St Eunans the stakes were also high having lost out to Buncrana at u12 and u14 this year, they entered the field determined to avenge those and the u16 league final defeat in August.St Eunans opened brightly with two points in succession from Niall O Donnell. Buncrana replied with points from Fiachra McLochainn and Kevin Vaughan on 8 minutes. Points were exchanged but the St Eunans attack was getting a lot a ball. A shot from Cian Randles hit the crossbar on 15 minutes followed by a point from Niall o Donnell. Both defences were working very hard, tackling furiously, denying space, hooking and blocking. Then, after good work in midfield Niall o Donnell came onto the ball and drove the sliotar into the Buncrana net. Buncrana responded with a flurry of attacks but the shots were forced wide under pressure from the St Eunan defence. Keeper Eoin Mc Laughlin was then forced to make an excellent save at full length from a Buncrana strike 5 minutes from halftime. The break came quickly with the score St Eunans 1.04 Buncrana 0.06. Buncrana started the second half at a higher intensity with their midfield of Declan Mc Carron and Dylan Duffy prominent. Points from Paul Tourish, Kevin Vaughan and David Doherty had Buncrana in the lead by the 10th minute with the St Eunans defence under intense pressure. However, St Eunans refused to buckle and a long ball from Niall was finished in the net by his young brother Shane o Donnell on 12 minutes. Points from Pauric Neeley and Niall O Donnell restored Eunans lead But Buncrana replied with scores from Declan Mc Carron and James Doherty. Both teams were now throwing everything they had left into the game. On the 23th minute Niall O Donnell the games outstanding player took the ball on the 45m line, beat the Buncrana defence and scored a brilliant goal with an unstoppable shot. Five minutes left. A second run by Niall was blocked out for a 65 subsequently scored. Nevertheless, Buncrana were not beaten. Points from Dillon Duffy and Paul Tourish reduced the deficit to the minimum deep into injury time. Buncrana worked hard for that crucial score but the Eunans defence cleared every ball putting their bodies continuously on the line. Niall O Donnell fittingly scored the final point of the game for St Eunans to win by two points amidst wild celebrations. Prominent for Buncrana were James Doherty and Declan mc Carron. Whilst for St Eunans the whole defensive unit were outstanding and Niall O Donnell stood out driving on his team to victory. Final Score: St Eunans 3.09 to Buncrana 0 .16.County Minor Hurling Chairman and Manager Tom Clare presented the trophy to Captain Niall O Donnell praising both teams for their excellent display. Indeed the whole Buncrana management and team were gracious in defeat despite their obvious disappointment. In truth Donegal hurling was the winner with only a puck of a ball between the teams at the end. Niall O Donnell thanked Buncrana, the referee, linesmen and the county board for the use of the pitch.    St EunansEoin Mc Laughlin, Brian Mc Intyre, Sean Tourish, Conor Kelly, Ryan Hilferty, Lee Doherty, Jordan Barr, Sean Halvey, Kevin Keally, Cian Durack, Des Kenny, Shane o Donnell (1.0), Cian Randles, Niall o Donnell (2.08), Paurlc Neeley, Anthony Horgan, Shane Maguire, Ethan Doherty, Mark Mc Ginty, Cathal Kilcullen, Peter Mc Gee, Aaron Deany, Cormac Finn, Conor f Kelly, Kealan Barrett. BuncranaDarren Fitzpatrick, James Doherty (0.01), John Vaughan, Oisin Mc Daid, Paddy Wilson (0.01), Paul Tourish (0.02), PJ Mc Carron, Dylan Duffy (0.06), Declan Mc Carron (0.01), Ben Doherty, David Doherty (0.01), Kevin Vaughan (0.02), Oisin Grant (0.01), Fiachra Mc Lochainn (0.01), Daniel Deery, Matthew Wilson.Referee: Anthony Coyle.Linesmen: Hugo Wallace and JJ Laverty  HISTORY BOYS AS ST EUNAN’S HURLERS WIN EPIC FIRST U16A HURLING TITLE was last modified: September 19th, 2014 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:buncranaHURLINGSt EunansU16last_img read more

Chelsea players ‘up for sale’

first_imgDidier Drogba, Jose Bosingwa, Salomon Kalou and Paulo Ferreira  have reportedly been put up for sale by Chelsea.The Daily Mail reports that all four have been made available along with Nicolas Anelka and Brazilian defender Alex, whose transfer requests have been accepted by the club.Juventus are understood to still be keen to sign Alex, while Arsenal remain interested in Kalou.The Mail also say Fulham’s players have been ‘gagged’ by the club in an attempt to curb tales of dressing-room unrest at Craven Cottage.The Sun suggests Whites boss Martin Jol is facing more discontent from his players, with a Fulham insider quoted as saying: “It seems to some players as if Jol is not happy with anything they do.”Meanwhile, Partizan Belgrade prospect Lazar Markovic, 17, has been linked with a number of top clubs but has told The Sun he wants to join Chelsea.“Chelsea is the place I want to play. I had all the pictures of the team on my wall at home back to when they had Gianfranco Zola,” he said.“Any time they are on TV I try to watch them. For me Chelsea are the best.”Follow West London Sport on Twitterlast_img read more

QB ‘competition’ among top insights from 49ers minicamp Tuesday

first_imgSANTA CLARA — Kyle Shanahan maintained that C.J. Beathard and Nick Mullens are “even” when it comes to the 49ers’ Battle of the Backups behind quarterback Jimmy Garoppolo, with one practice remaining until summer break.[vemba-video id=”van/sc/2019/05/22/bang_09ba0fb2-182c-4fd6-bcd1-1aa93074d780″]As good or bad as they’ve been the past two months, the QB2 competition honestly can’t be judged until live pass rushers are testing Beathard’s pocket awareness or hurrying Mullens’ passes beyond the …last_img read more

Darwinism Evolves to Elude Falsification

first_imgThe flexibility of Darwinian stories can be seen in two recent escape mechanisms.The king is dead; long live the king (Science Daily). Darwinians admire other storytellers like themselves. One popular storyteller was Lewis Carroll. In his fanciful novel Through the Looking Glass, he envisioned a Red Queen who had to keep running just to stay in place. Her counterpart was a Red King that had to move slowly to not overtake his partner. Evolutionists adopted both these fictional plots into Darwinian theory: the Red Queen arms race, and the Red King parasitism-mutualism contest. The article has bad news: The Red King is dead. Headline: “Ant genomics declare ‘checkmate’ to red king theory: Long-standing scientific theory challenged.” Who will be the successor? A number of questions remain, but Scientific Materialism is sure to find answers within a Darwinian framework.Yet, there are still many questions about the evolution of DNA and genomes. What are all the factors that contribute to this increased rate of evolution among mutualists? What does genetic adaptation look like in other symbiotic relationships? Although we don’t have all the answers yet, this study provides an important framework to begin a new line of questioning.What is clear, however, is that this research has moved its piece on the chessboard of science, stared down the Red King Theory, and confidently declared, “Checkmate.”Bucket of warm spit (Science Daily): Saliva contains many complex molecules, some of them bearing tandem repeats that give it its stickiness. Some evolutionists decided to compare a saliva gene from monkeys, apes and humans.The study found that within the MUC7 gene, instructions for building important components of the bottlebrush were repeated multiple times in each of the five primate species studied. Gorillas had the fewest copies of this information (4-5), while African green monkeys had the most (11-12). Humans fell somewhere in between, with 5-6.Taken at face value, this shows African green monkeys are farther along than humans and gorillas in their evolution. But the evolutionists found a way to save Darwin from the data. “The new study shows that as primates evolved, the DNA in their MUC7 tandem repeats sometimes changed in places (a normal part of evolution).”It’s a plot, we keep telling you. Darwinism is a storytelling plot.(Visited 30 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

Bank gives SMEs a helping hand

first_img9 September 2008Nedbank has created a specialised credit risk management unit to help South African small business owners manage their debt better in an environment characterised by high interest rates, double-digit inflation and elevated fuel prices.“We realised that the rapidly changing economic environment was having enormous impact on small business owners who are particularly vulnerable to fluctuations in the market conditions, and we decided to do something about it,” Nedbank small business services MD Sibongiseni Ngundze said in a statement this week.Meeting financial obligationsThe unit identifies clients who may be experiencing difficulty in meeting their financial obligations. Once the client’s financial information has been analysed, the team will assess the particular needs of the client and find a tailor-made solution.“Depending on the needs of the client, we design a plan that will hopefully return them to a more stable financial position. This may involve restructuring their existing loans or credit facilities or simply increasing access to funding for a particular period of time,” Ngundze said.The unit will undertake to manage the relationship with the client until such a time their financial situation has normalised, which is anticipated to be about three months, at which point the client will return to dealing with their original branch.“The benefit of managing clients in a specialised unit is the specific and relevant attention from staff members already familiar with their particular details and needs as well as the process,” Ngundze said.“Nedbank also derives value from this arrangement as we are able to actively and effectively manage risk and ensure that fewer clients default.”Constrained economic environmentIn the face of a constrained economic environment, Nedbank is encouraging its small business services clients to exercise the greatest caution in managing their cash flow, which is always the biggest challenge for small and medium enterprises.“Cash flow management remains an issue for small business owners and, as such, this topic has remained a priority at our free small business management seminars held bi-annually, with the next session scheduled to take place from 6-21 October countrywide,” Ngundze said.Nedbank believes that the initiative is another way of delivering on the promise of great value banking as, just as with the seminars, the service is free.“We understand the complexities associated with running one’s own business and the special attention that it requires, hence the establishment of this particular unit and other interventions such as mentorship and free financial training for franchisees.”SAinfo reporter Would you like to use this article in your publicationor on your website?See: Using SAinfo materiallast_img read more