Foreign Direct Investment (FDI) inflows to East Africa fell by 14 percent in 2018, this is according to the UN Conference on Trade and Development (UNCTAD).

UNCTAD says that the fall in FDI inflows to East Africa was significant, adding that it makes the region’s in competing for investment projects more challenging.

This despite FDI flows to Africa bucking the global trend and registering and increase of 6 percent in 2018, though most of these inflows went to North and Southern Africa.

Paul Wessendorp, Chief of UNCTAD’s Investment Promotion Section, further disclosed that global FDI inflows fell by 19% in 2018 to an estimated US$1.2 trillion, from US$1.47 trillion in 2017.

“This is the third consecutive drop bringing FDI flows back to the low point after the global financial crisis,” said Wessendorp.

Noting that FDI is the largest source of external finance for developing nations, Mr. Wessendorp said that FDI has the potential to create higher-skilled employment, facilitate the diffusion of technology, and improve access to international markets.

Wessendorp was speaking during the opening session of the three-day Regional Seminar on Facilitating Investment in Sustainable Development Goals Projects in Arusha, Tanzania.

He said that the resource implications for implementing SDGs, which were on top of the agenda for the UN, the wider international development community and UN Member States, was substantial.

“According to UNCTAD estimates, developing countries alone face an annual investment gap of 2.5 trillion US dollars required to achieve the Goals,” said the UNCTAD official, adding that private sector investment, including FDI, should be mobilized for SDG-related projects in areas such as the creation of decent work, power generation, infrastructure, and water and sanitation in addition to food security, climate change mitigation, and adaptation, health and education.

EAC Secretary General Amb. Liberat Mfumukeko, in remarks read on his behalf by Mr Charles Omusana, the Private Sector Development and Investment Promotion Officer at the EAC Secretariat, said that the EAC had structured its programmes in a way that addresses all the 17 SDGs.

“The EAC Treaty requires the region to become a single conducive investment destination and should be marketed as such. Therefore, it calls upon us to harmonize our investment laws, policies and regulations, thus making them predictable and facilitative for cross border investor and investments,” said Mfumukeko.

He disclosed that the region still has patent challenges that negatively affect its investment climate, namely: Non-tariff barriers (NTBs); availability of affordable finance, power and other utilities; appropriate quality infrastructure; a domestic private sector still a lot of handholding, and; unpredictable investment regimes.

He urged Investment Promotion Agencies (IPAs) to take the lead and advocate for a better and conducive climate for investment to thrive in the region.

Geoffrey Mwambe, the Executive Director of the Tanzania Investment Centre (TIC) hailed UNCTAD for supporting the development and implementation of the e-Regulations project as a means to enhance pro investment services in Tanzania.

The workshop has drawn participants and IPAs from all the six EAC Partner States.

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Kampala High Court Judge Henrietta Wolayo on Wednesday issued an interim order halting the sacking of Director of Communication at Parliament of Uganda Mr Chris Obore pending hearing and determination of the main case.

Obore ran to court on Monday last week following threats to sack him from his position by the Clerk of Parliament, Jane Kibirige in a letter dated March 5, 2019.

He sued the Parliamentary Commission over the incident at the Civil Division of the High Court in Kampala through Kampala Associated Advocates (KAA). Obore has asked the court to compel the commission to pay him costs of the suit.

“I seek an interim injunction restraining the commission, its agents or servants from implementing the decision of the clerk of parliament, to terminate my employment in the parliamentary service, pending determination of the main case,” Obore asks the court.

He says the main suit discloses important issues relating to the legality and propriety of the impugned decision, which matter has high chances of success.

“There is an imminent threat of the respondent implementing the impugned decision to my detriment. Unless the commission is restrained from implementing the directive, the applications shall be rendered nugatory,” he contends.

Obore added, “The balance of convenience favours me, who is currently lawfully employed in the said position and stands to lose more if the commission is permitted to implement the directive.”

He narrates that in May 2015, he received a letter informing him that Parliamentary Service Commission had expressed interest in filling the said position and he was identified as one of the potential candidates, before sitting for interviews over the same.

Obore says subsequently, he received a letter dated August 19, 2015, from the office of the clerk to parliament, informing him that he had been offered an appointment on probation.

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The former Bank of Uganda Executive Director for Bank Supervision Justine Bagyenda and Director Financial Markets Development Coordination, Ben Sekabira are involved in a bitter row with Deputy Governor Dr Louise Kasekende, with the former two accusing the latter of hatching plans for Auditor General audit Shs478 billion that was meant to support Crane Bank Limited (CBL) while under statutory management between October 20, 2016 and January 25, 2017.

Days ago, Kasekende in a letter requested the Auditor General John Muwanga to carry out a fresh audit of Shs478 billion, after the first audit early this year showed that about Shs320 billion of that money could not be accounted for by BoU officials. Unfortunately Muwanga declined to help Kasekende, saying only parliament can order him to a second audit, BoU having refused to give him all documents related to the money in the first audit.

Sources say the missing money can only be accounted by Bagyenda, Sekabira and some officials from Dfcu bank and some lawyers and as such, it could not reflect on CBL accounts during the statutory management period. However,sources close to the two say the request by Dr. Kasekende to have another audit of documents that weren’t part of the COSASE probe has robbed the two in the wrong way.

Dfcu bank accessed CBL assets on January 25, 2017 at a surprising Shs200 billion which was to be paid from CBL’s loan book of Shs570 billion, meaning the former got assets at zero price, according to parliament’s Committee on Commissions, State Authorities and State Enterprises (COSASE) which made a report on the closure of seven commercial banks.

During the COSASE probe under then Chairperson Abdu Katuntu, the names of Bagyenda and Sekabira and Edward Mugwanya appeared several times in the illegal closure of banks as well as disappearance of critical documents related to the accountability of the money especially the Shs478 billion claimed to have been sunk in CBL as liquidity support and other intervention costs.

Parliament debated the COSASE report on the seven closed banks and is yet to release final recommendations on those who mismanaged the closure and liquidation of banks whose owners are demanding compensation that could make taxpayers lose trillions of shillings.

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The Bududa-Nabweya Gravity Flow Scheme is to be boosted as Umeme plans to connect it to the national electricity grid before President Yoweri Museveni launches it in June this year.

The water facility now uses solar power for pumping water to several sub-counties in the district but this comes difficult when it is rainy season that makes it hard since there is little sunshine.

The water project is government funded and is one the early pledges of President Museveni he made to Bududa then a county under Mbale district. The President made the pledge after finding out how hard it was for the area to access clean water despite area having several rivers and streams.

However, local politicians are said to be frustrating the progress of the project which the government is implementing via a financial cooperation with the African Development Bank.

According to the sources, the politicians have not given clear reasons as to why they are opposed to the project designed to supply over 4450 cubic metres of water to 116,919 people living in the mountainous district prone to landslides.

A source that preferred to remain anonymous politicians are against the project due to local politics as they don’t want some areas of Bulucheke Constituency to be connected to the system. Bulucheke was cut off from Manjiya Constituencies to form two constituencies in Bududa district that borders Kenya as well.

“There politicians in the area who think that the water scheme was meant for residents in Nabweya Town Council and County and they are against water flowing to other areas,” he said.

However, Eagle Online has learnt that despite the frustrations by the said politicians, a recent visit by officials from State House has given a green-light that project was on cause and soon the head of state will launch it.

The Directorate of Water Development reports that over 1,600 connections have been made so far, serving Bududa Town/Council, Bududa Subcounty, Nabweya Subcounty, Bushiribo Subcounty, Bukigai Subcounty, Bushigai Town Council, Bulucheke Subcounty and, Bushiyi Subcounty.

The project intends to connect 2000 points by end of DLP, according to officials from the Ministry of Water and Environment. The project currently has water offices in sub counties of Bushiyi, Bulucheke, Bukigayi, Bushiribo and NabweyaTown Council.

The project was developed after government realised the hardships that the residents especially those living in mountain slopes were facing due to lack of sources of water. Most of them were moving down the valleys to fetch water, a daunting task when climbing up the mountains and hills with jerrycan of water on their heads.

As local politicians oppose the project implementation, findings show that schools, health centres, district offices are already being serviced by the water system, which has changed people’s lives, especially in schools and health centres where good hygiene and sanitation cannot be sustained without water.

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National water and sewerage corporation (NWSC) has been awarded with utility Distinction Water Leader accolade during the Global Water Awards 2019 held at the Natural History Museum London, United Kingdom.

Established in 2006 by Global Water Intelligence, the awards recognize the most important achievements in the international water industry within several categories, and reward those initiatives in the water, wastewater and desalination sectors that are moving the industry forward through improved operating performance, innovative technology adoption and sustainable financial models.

Each year, the Global Water Awards are presented at the Global Water Summit, the major business conference for the water industry worldwide.

The Water Leaders’ Award goes to the publicly owned utility from a developing country that is able to demonstrate an outstanding step-change in performance improvement.

This year’s finalists included, Aguas Bonaerenses S.A Argentina, Instabul Water and Sewerage Admjnstaration (ISKI), Turkey, National Water and Sewerage Corporation, Uganda and National Water Commission, Jamaica.

NWSC was recognized for its efforts to transform the utility into sub-Saharan Africa’s water utility after securing the continent’s highest ever credit rating for the sector.

This is the second time NWSC is receiving the Distinction Water Leaders Award, having won the same prestigious award in Paris four years ago.

Speaking at the award ceremony,NWSC Managing Director, Dr. Silver Mugisha attributed the award to the support from the government of Uganda, the Board and committed staff at NWSC and corporation customers who support the utility by paying bills promptly.

“We are aggressively extending our network to serve more people in the country. In addition, we working on water supply stabilization plans to address all water supply challenges in the network and large infrastructure service delivery projects aimed at improving access to clean safe water and sanitation services in Uganda.” he said

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The Vice President Edward Kiwanuka Ssekandi who is leading the African delegation to the fifth Buddhist International Peace Summit in the port city of Osaka Japan has called for dialogue as the surest way of ending conflict especially in the developing countries.

Ssekandi who was speaking to the Japanese media after a guided tour of a new Buddhist training facility below Mount Mikasa in Hyogo prefecture said part of the world conflicts are as a result socio- economic and political injustices and called for protection of the vulnerable especially women children and the elderly.

He said that world peace can only be achieved when humans cease blaming each other for mistakes of the past and begin working together for a common better future without attempts of manipulation and exploitation of those with limited knowledge or tools to guard against such tendencies.

He said that Uganda has taken such a step to contribute to world peace by ensuring the safety and security of the great lakes region saying although it has been with a price tag fighting against armed militias in Somalia and other neighbouring countries and organised crime at home, Uganda is committed in ensuring that peace prevails in the region.

He commended the Buddhist leadership for promoting peace through humility and simplicity saying arrogance, indifference and intolerance have been responsible for some of the world worst conflicts that could have been avoided if only those involved were humble to accept their mistakes forged ahead with a common purpose.

He pledged government commitment in working with groups like the Buddha faith on programs especially those aimed at improving the living conditions of the people in Uganda. Ssekandi used the same occasion to invite the Japanese people to Uganda saying the country presents a litany of tourism and other opportunities that especially the youth should explore.

Ssekandi is being accompanied by King Oyo and the Queen mother of Tooro, the Kamuswaga of Kooki, Uganda Ambassador to Japan Betty Aketch who have joined other royal families and government representatives from over 40 countries participating in celebrations marking the fifth Buddhist International Day being held in Hyogo prefecture of Japan.

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