Category Archives: Buisness

Kampala District Land Board Appointments Stir Chaos in Council

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There was drama at the Kampala City Hall this afternoon after councillors disagreed on whether or not to discuss the appointment of Nasser Basajjabalaba and Moses Kamoga, to the District Land Board. 

The appointment of the two officials was deferred by the Minister for Kampala on account that they were being investigated for their involvement in fraudulent land transactions. The minister in a letter dated November 26, 2020, said that the two had been implicated together with the former Land Board Chairman Yusuf Nsibambi, a basis of which the President had called for an investigation before they take up any roles.

UNBS in Nationwide Standards Awareness Drive to Curb Fake Solar Products

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Uganda National Bureau of Standards (UNBS) has rolled out regional awareness campaigns targeting solar energy consumers and dealers ahead of their proposed crackdown on substandard products in the next financial year.

On Tuesday, UNBS held an intense civic discourse with over 150 entrepreneurs; solar energy consumers and dealers in Gulu City drawn from Acholi and Lango sub-regions to sensitize them on quality, standards and requirements for solar products.  

Mabirizi Demands Signed Oil Agreements Made Public

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Lawyer Hassan Male Mabirizi has given the Ministry of Energy and Mineral Development 21 days to make public the agreements that were signed on Sunday, between the government of Uganda and Tanzania.

Mabirizi threatens legal action if the Permanent Secretary does not comply with what he calls the constitutional obligation imposed on the ministry by the constitution.

On Sunday, the Presidents of Uganda Yoweri Museveni and Tanzania Samia Suluhu Hassan and representatives of oil companies CNOOC AND Total are Host Government agreement and the Tariff and Transportation agreement.

Gov’t Starts Compensation Process for Owino, Nakasero Market Traders

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The government has started the process to compensate traders of St. Balikuddembe market – Owino and Nakawa Markets.

In 2020, President Museveni directed the Minister of Kampala to with immediate effect remove from the government markets the Association leaders and supervise the sellers to elect new leaders. 

Museveni stated that many of the current leaders in the markets registered themselves as the proprietors of the markets instead of the Association of sellers or vendors.

Petition: Activists request parliament oversight on IMF special drawing rights holding in Bank of Uganda

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By Whisper Eye Reporter

Through the office of Rt. Hon. Rebecca Alitwala Kadaga the Speaker Parliament of Uganda, activists led by Obedigu Samuel commonly known as Strike Machine have petitioned parliament requesting for parliamentary oversight over the IMF Special Drawing Rights Holdings in Bank of Uganda.

According to Obedgui this development carries a lot of significance to the economy of Uganda.

Oil Pipeline: Uganda, Tanzania sign important oil agreement

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Uganda and Tanzania have signed the East African Crude Oil Pipeline agreement. 

This signals the start of the construction of the pipeline that will transport Uganda’s oil from Hoima to the port of Tanga.

Among the agreements signed on Sunday between the officials from the government of Uganda and Tanzania and the oil companies’ CNOOC and Total are; Host Government agreement and the Tariff and Transportation agreement.

Speaking after the signing of the agreement that is over $10billion, President Yoweri Kaguta Museveni, said that he chose to work with Tanzania because of its historical contribution towards Uganda.

“We don’t need boda bodas any more.” Gen Elly Tumwine

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By Kiggundu Lineaker

“We don’t need boda bodas any more.” Minister Hon. Gen Elly Tumwine – MP

The security Minister Gen Elly Tumwine, says history and Covid 19, have demonstrated that internet and boda boda services are luxuries which Ugandans can live without because of the danger they pose to the country.

Fire guts Madhvani warehouses, destroy property worth billions

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Fire has gutted warehouses belonging to Madhvani Group of Companies destroying properties worth millions of shillings.  The warehouses are located at the 5th Street Industrial Area.

Among the warehouses that have been gutted by the fire that started at 12pm, is that of the Joint Medical Stores.

A team of officers from the Police Fire and Rescue Directorate teamed up with the employees of the several warehouses to put out the fire, but in vain.

Finance committee rejects UGX 200,000 annual govt car license

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Parliament’s finance committee has rejected a  proposal by the government to introduce a  licence of 200,000 Shillings license on motor vehicles and 50,000 Shillings for motorbikes. The Ministry of Finance has proposed the fees as part of the revenue measures to fund the 2021/2022 budget.

If passed, the proposal would come to effect on July 1, 2021. It is embedded in the Traffic and Road Safety Act (Amendment) Bill, 2021 which seeks to impose a license to permit ownership of a motor vehicle, trailer or engineering plant.

On Tuesday, the State Minister of Finance David Bahati said that the move is intended to streamline the transport sector by getting rid of illegitimate cars and raising money for the maintenance of roads across the country.

President Samia Suhulu of Tanzania to visit Uganda & sign oil deals

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The long wait for Uganda’s Final Investment Decision for oil and gas could come to an end this Sunday, following talks between government officials and industry leaders from Uganda and Tanzania.

Tanzania’s new president Samia Hassan Suluhu is due in the country for talks that should culminate into the signing of the deals on Sunday 11, according to a top official from the Ministry of Foreign Affairs.

“The Tanzanian President will be on her journey in a few hours for talks, which will climax with the signing ceremony on Sunday,” the official said. This is President Suluhu’s first state visit since her elevation to replace the late John Pombe Magufuli, as the president of Tanzania last month.

Busia Traders Decry Increased Income Tax by URA

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More than 400 traders have abandoned their businesses along Busia Customs Road over increased income tax by the Uganda Revenue Authority- URA.

The traders are compelled to pay between 50,000 and 150,000 Shillings in income tax depending on the type of business. The traders were also told to pay income tax for the last financial year which they defaulted.

Suleiman Benzula, the chairman of Busia customs traders association says that over 400 members have abandoned their businesses because of the charges imposed on them by URA. He says that the increment could trigger protests among the affected traders, saying they are overtaxed.

Uganda’s solar energy capacity to reach 200MW by 2022

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Uganda is set to have a total installed solar power capacity of more than 200 megawatts by the end of next year, with more than half-owned by a private investor Dr David Alobo.

Alobo, through his Xsabo group, has commissioned the construction of a 20 MW solar power project at Konge in Mityana district, which is one of the two largest solar plants in the country.

Xsabo Group says they plan to build another three projects, which will bring the number to five plants with a total installed capacity of 150 MW, worth a total investment of 735 Billion Shillings.

The company received funding for the Mubende project worth 63 Billion Shillings from the Uganda Development Bank and the DFCU Bank.

Boost agricultural sector by promoting Rural Resource Centres (RRCs) – Emmanuel Mwesige

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The agricultural sector has been the backbone of Uganda’s economy for decades, employing over 80 percent of the rural population and about 64.3 percent of the working population. Agriculture is a source of food, raw materials for industries and foreign exchange given the many agricultural exports. Based on the statistics above, agriculture needs to be identified as one of the priority sectors for investment.

Given the importance of agriculture as a strategic sector that provides subsistence and income to a large portion of the population, but also contributes to the national economy, the need to boost it has become increasingly urgent.