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NSSF boss urges Ugandans to invest in mortgages

Ugandans should do away with constructing individual houses and instead use the mortgage platform to acquire affordable houses, the Managing Director of the National Social Security Fund (NSSF), Richard Byarugaba, has said.

Byarugaba made the call on Thursday at the Pearl of Africa Hotel in Kampala while addressing participants attending the Second Innovations Series organised by Braincild Burson- Marsteller under the theme; “Making Real Estate Ownership a Reality.
“Most of people in the western world have developed because of mortgages,” he said that most individuals in Uganda don’t have ready money to finish up projects as early as possible and as such locks the money that should have been used to gain profit.
Supporting Byarugaba’s argument, the Managing Director of Housing Finance Bank, Mathias Katamba said that Uganda as a country has less than 10,000 mortgages, compared to about 25,000 mortgages in Kenya.

Katamba urged Ugandans to utilize mortgage facilities offered by the Bank, saying that individual construction of houses is not good for the real estate business, which is supposed to provide affordable housing units across the country.
He said that even people working in the informal sector, if well organised, can be able to acquire decent houses via the mortgaging platform.

On the other hand, Byarugaba said NSSF has in its data base 2.1 savers from different entities who can be able to acquire mortgages, stating that he has always encouraged his staff to acquire mortgages.

Meanwhile, Samuel Malaba, the Commissioner, Human Settlements, Directorate of Housing in the Ministry of Lands, Housing and Urban Development, said that government has put in place an enabling environment by capitalizing Housing Finance Bank to provide mortgages for those who want finished houses, and other products.

Addressing the participants, Buganda Land Board Managing Director, David Kyewalabye Male, said that the campaign by the kingdom administration to provide land titles to ‘Bibanja’ holders has paid off as holders can now use the documents to mortgage their properties, or use them to acquire money for different purposes.

He added that the land titles have now provided those staying on Kabaka’s land security of tenure, as no one can come and evict them from their plots.

Addressing participants, innovators in the real estate sector said they have adopted technologies to provide low-cost housing units. The argued that permanent houses have become expensive to construct because most developers use expensive inputs.
One of the innovators, Stephen Jjuuko Kwagala, the MD of Innovation Consortium, showcased some of the cheap materials his company uses to build low cost housing units. He said the appropriate technologies they use as they construct houses also protect the environment.

Another innovator of solutions for low cost housing, Yusuf Kazibwe, urged government to allow in cement imports, saying that the current Shs40, 000 charged for a bag of cement is too high and that it has hit hard the real estate sector.
The Innovation Series event brought together business leaders, managers, government technocrats, individuals and the media to discuss topical issues affecting the real estate sector in Uganda.

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Tanzanian anti-gov’t protests flop as Magufuli calls for peace

Tanzanian President John Pombe Magufuli.

Tanzanians largely ignored on Thursday a U.S.-based activist’s call to stage nationwide protests against President John Magufuli’s government.

Nine demonstrators marched in Tanzania’s commercial capital, Dar es Salaam, on Thursday. They were quickly arrested.

Mange Kimambi, a self-styled Tanzanian democracy activist based in the United States, tried to organize the demonstrations through social media to coincide with Thursday’s anniversary of the union between mainland Tanzania and the Indian Ocean archipelago of Zanzibar.

“As Tanzanians, we must defend our peace. We should not allow ourselves to be used by our enemies,” Magufuli said in his Union Day speech to the nation, broadcast live on state television.

“I will defend our union at all costs. We will not have mercy on anyone – inside or outside the country – who tries to destabilize us.”

Some shops were closed in several towns, but most of the country was peaceful, with no reports of street protests, according to witnesses.
Heavily armed police have patrolled major towns and cities across the country over the past three days. One senior police officer warned on Wednesday that protesters would be “beaten like stray dogs”.

The main opposition party, CHADEMA, said several of its leaders were arrested by the police in various parts of the country on allegations of inciting Tanzanians to take to the streets.
Police in Dar es Salaam on Thursday confirmed the arrest of a leader of CHADEMA’s women’s organization for mobilizing Tanzanians to march against the government.

Tanzania’s JamiiForums online platform said on Thursday it suffered from a cyberattack designed to disable it, forcing it offline temporarily.

“We are back,” JamiiForums tweeted. “We were offline due to a distributed denial of service attack. We apologize for the inconvenience this attack has caused and we are currently reviewing the incident to ensure any learning points are used to enhance our protection in future.

JamiiForums did not say who was behind the attack, but its co-owners are facing criminal charges over a user privacy battle with the government. Authorities had accused website administrators of obstructing a police investigation by refusing to disclose the identity of some of its users.

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Oryx, Petro City stations cited in adulteration of fuel

A graphic impression of an Oryx Petrol Station

Three Oryx Petrol Stations: in Bukoto, Kazinga/Bweyogerere and Kiwatule and, Petro City in Kisenyi have been cited on a list of over 100 petrol stations that sell substandard fuel in the country.

However, according to statistics, over 1000 petrol stations in Uganda sell adulterated fuel contrary to the Petroleum Act, 2013.

And, in a report, the Daily Monitor newspaper reported that fuel adulteration is mainly done by adding inferior quality substances including among others diesel and paraffin to petrol. This, the reports indicated, result into malfunctioning of engine, failure of components and compromising safety.

According to the act, the ministry of energy that is responsible for regulating companies interested in the oil and gas business, can penalize an operator by revoking a license or fining the wayward operator.

Daily Monitor reported that fuel adulteration is as a result of inadequate members of staff to monitor all fuel dealers in the country and the continuous proliferation of districts.

Over years, adulteration of fuel has been a crucial issue where customers has been lamenting over substandard fuel and inappropriate measurements.

 

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Labour Day: Act in the public interest, minister implores public servants

State Minister for Gender and Culture, Peace Mutuuzo

The Minister of State for Gender and Culture Affairs Peace Regis Mutuuzo, has urged public officials to perform their duties diligently, exercising their discretionary powers in way that promotes the public interest.

Speaking ahead of the Labour Day on May 1, Minister Mutuuzo said President Yoweri Museveni will lead the national celebrations at Ssembabule Town Council Play Grounds in Ssembabule District.

Labour Day will be celebrated under the theme: ‘Promoting Public Spirit in Public Sector’ and, according to the minister, the theme is drawn from the fact that ‘public servants like all workers seek employment as means to a livelihood; they also have an over-arching obligation to act in the public interest’.

She also said that leaders must move to end child labour and the exploitation of workers.

The Minister’s message comes at a time when the country is involved in a campaign to stop trafficking, exploitation, torture and killing of Ugandans in Arab countries.

“We have embarked on registering companies that take Ugandans for labour; always visit the gender ministry to check for appropriate companies legalized to export labour,” Minister Mutuuzo said.

 

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Committee rejects amendment bill on ‘carved out’ districts

Bubulo West MP Rose Mutonyi Masaba

The Public Service and Local Government Committee of Parliament has rejected the local government (amendment) bill tabled by Bubulo County West legislator Rose Mutonyi Masaba, seeking to among others, exempt elected political leaders from being subjected to elections in the ‘carved out districts’.

Committee members led by Aringa North County MP Godfrey Onzima, noted that the Bill does not ‘introduce anything new except the need to give the chairperson of the original local government an opportunity to choose whether to move to a newly created local government or to remain in the old one’.

The MPs were citing Article 1(4) of the Constitution and the principles contained in the Local Governments Act which give the people the right to choose who shall govern them through regular, free and fair election.

They further noted that in case political leaders exonerated from new election processes, chairpersons will influence the District Council to pass resolutions for creation of districts which are in their favour ‘and this will lead to rampant emergence of new districts’.

‘An existing Council cannot be termed as an ‘interim council’ on the basis that its chairperson has opted to join a newly-created local government yet the other persons that form the Council are still in office,” reads in part the Committee report.

They also rejected the notion that the proposed amendment would limit the financial burden on government.

‘It is misconceived because even if the Chairperson is given the opportunity to move to the newly created local government, there would still be a vacancy created in the old one which would have to be filled through an election,’ they argued.

This year government is set to create six new districts: Nabilatuk out of Nakapiripirit; Bugweri out of Iganga; Kassanda out of Mubende; Kwania out of Apac; Kapelebyong out of Amuria and Kibuube out of Hoima. They will all become operationalized from July 1, 2018.

Then in 2019 government will create another six new districts: Obongi out of Moyo; Kazo out of Kiruhura; Rwampara out of Mbarara; Kitagwenda/Kamwenge and Madi-Okollo/Arua.

 

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Nigerian Senators want Buhari impeached

President Muhammad Buhari

Some Nigerian senators led by Matthew Uroghide have today called for the impeachment of President Muhammadu Buhari for not seeking National Assembly approval before the withdrawal of the $496 million used for the purchase of aircraft from the United States.

According to reports, Senator Uroghide representing Edo state, moved the motion, claiming that President Buhari’s move was a violation of the Constitution and that he should face the consequences.

Sen. Uroghide urged the Senate to invoke Section 143 to start the impeachment process against the President.

Seconding the motion, Chukwuka Utazi spoke in support of the move.

“This is an impeachable offence,” an obviously angry Mr Utazi, said.

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Vipers host KCCA in a title decisive match

On-form KCCA striker Muhammad Shaban will be the man to watch

The title race in the Azam Uganda Premier League is going down to the wire with Vipers SC, KCCA and SC Villa Jogoo all having a chance to win this season’s title with only five games left to play.

All eyes will be in Kitende tomorrow afternoon when SC Vipers host defending champions KCCA in a highly-billed Uganda Premier League encounter.

Vipers will place their trust in Dan Sserunkuma and Milton Karisa to carry their scoring boots as they host a well-organised and on-form KCCA who will look up to the league’s top scorer Muhammad Shaban (10 goals).

Currently KCCA are 3rd, one point behind leaders Vipers, who are level with second placed SC Villa Jogoo but lead on goal difference.

A win could see the ‘Kasasiro Boys’ open a two point lead at the top of the table while Vipers will be looking to extend their lead to three and four points ahead of SC Villa and KCCA, respectively.

KCCA come into this game with brilliant form after defeating URA 7-2 in Lugogo on Tuesday while the Venoms defeated relegation candidates Masavu 3-1.

The first leg in Lugogo ended in a 3-1 victory for Mike Mutebi’s side. Muhammad Shaban scored a brace for KCCA while Derrick Nsibambi scored the other. Yayo Lutimba scored the Venoms’ consolation goal of the day.

KCCA have won just one of their last seven Premier League meetings with Vipers (W1 D3 L3). There has only been one goalless draw between the two sides in the previous 14 league meetings.

Other title contenders SC Villa will be in action on Saturday, away to Mbarara as they seek to end their 14-year title drought.

The Jogoos could be leaders but were docked two points earlier in the season for the fans violence against Vipers at St. Mary’s Stadium.

Friday April 27, 2018

Vipers Vs KCCA, Kitende (4pm)

Saturday April 28, 2018

Mbarara City Vs SC Villa, Mbarara (4pm)

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UWA official gets two years for forging IGG letter

The Buganda Road Magistrate's Court

William Echwenyu, a former Intelligence Officer at Uganda Wildlife Authority (UWA), has today been sentenced to two years in prison for forgery and uttering false documents.

Appearing before Buganda Road Magistrate Gladys Kamasanyu, Echenyu was convicted on three charges.

Prosecution alleges that during investigations that were carried by the Inspector General of Government (IGG), Echenyu forged a letter claiming it was written by the IGG, ordering UWA to reinstate and promote him, pay school fees (for his children) and clear all his withheld salary arrears.

On suspecting fraudulent conduct, the then UWA Executive Director reportedly contacted the IGG who denied having issued any directives to that effect.

Following IGG’s submission on the matter, Echwenyu was arrested, tried and remand to Luzira prison, where he has been since October 5, 2017.

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World Bank, IMF to hold 2021 Annual Meetings in Marrakech, Morocco

World Bank, IMF to hold 2021 Annual Meetings in Marrakech, Morocco.

The 2021 Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) will take place in Marrakech, Morocco, in October 2021, following a vote by the Boards of Governors of the two institutions, Monday’s press release by the two agencies shows.

The Annual Meetings bring together central bankers, ministers of finance and development, private sector executives, civil society, media and academics to discuss issues of global concern, including the world economic outlook, global financial stability, poverty eradication, inclusive economic growth and job creation, climate change, and others.

The last time the Annual Meetings were held in Africa was in 1973, in Nairobi, Kenya. Wednesday’s announcement of Morocco as the next location of the Meetings coincides with the 60th anniversary of the country’s membership of the WBG and the IMF.

The Annual Meetings are usually held for two consecutive years at the WBG and IMF headquarters in Washington, D.C. and every third year in another member country.

The 2018 Annual Meetings will take place in Indonesia in October of this year, at which time there will be an official signing ceremony for the 2021 Meetings in Morocco. A complete list of previous meeting sites is available on the Annual Meetings website.
The World Bank Group plays a key role in the global effort to end extreme poverty and boost shared prosperity. It consists of five institutions: The World Bank, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID).

Working together in more than 100 countries, these institutions provide financing, advice, and other solutions that enable countries to address the most urgent challenges of development.

IMF is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the International Monetary Fund Washington, D.C. 20431 USA 2 world.

Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership.

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Parliamentary committee okays Investment Code Bill 2017

Henry Musazisi

The Parliamentary committee on Finance, Planning and Economic Development has recommended the passing of Investment code bill of 2017 to streamline the functioning of Uganda Investment Authority (UIA).

If the Bill is passed into an Act, it will modernize and replace the Investment Code Act Chapter 92 of the Laws of Uganda and inter alia to make it conform to the Constitution.

The bill vests much power to the Mister of Finance who oversees all activities that are carried out by the authority.

The Bill gives the minister power to among others expel any board member who will miss three consecutive meetings without notice.
The members of the committee led by Rubanda East legislator Henry Musasizi, noted that the Bill will redefine the functions of the Authority, modifying the composition of the Board, providing for the registration of investors and issuing of the investment certificates investors.

“The Bill will incorporate provisions relating to finance, accounting and auditing, to providing for the submission of annual reports by the Authority and other related matters.” the report reads in part.

According to legislators, the Bill defines a domestic investor as a citizen of the East African community Partner State and they will be able to benefit from government incentives there are availed to local investors.

Due to mass rooming fake investor in the country, the Bill prescribes US$ 50,000 (Shs180 million) as the minimum capital requirements for investors to be granted an investment licensee and this will require the minister to come to Parliament every time this amount has to be revised depending on the circumstances.

Currently Uganda investment authority is supervised by the State Minister for Investment Evelyn Anite.

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