Stanbic Bank
Stanbic Bank
23.9 C
Kampala
Stanbic Bank
Stanbic Bank
Home Blog Page 344

Museveni to officiate Uganda -South Africa Trade and Investment Summit

President Yoweri Museveni officiated the Uganda -South Africa Trade and Investment Summit at Speke Resort Munyonyo. The summit which kicked off yesterday is organized by the Government of Uganda and various South African owned business entities.


The first edition of the Uganda – South Africa Investment and Trade Summit was held in February 2023 in Pretoria, South Africa. It was addressed by President Cyril Ramaphosa and President Yoweri Museveni. The two presidents resolved to work towards improving the business operating environment between the two countries including addressing all challenges affecting the private sector.


Leading a high-powered delegation from the government of South Africa, Hon. Angela Thokozile Didiza, the Minister of Agriculture, Land Reform and Rural Development noted in her remarks the need for African countries to collaborate to build back better following the impact of economic shocks like the Covid-19 pandemic and the shocks to the global chain as a result of the Russia Ukraine war.


“We foresee key opportunities to trade among each other reinforced by the Africa Free Continental Trade Area (AFCFTA) to achieve the vision of the Africa we want by 2063 and work together to exploit our rich African natural resources to take advantage of economic opportunities abounding within the African population which currently stands at a billion citizens and growing. Strengthening bilateral trade creates a solid basis for the AFCFTA,” she said.


The summit has a focus on attracting greater trade and investment with a focus on agriculture, tourism and hospitality, ICT and mining.
Bright Rwamirama, the Minister of State for Agriculture, Animal Fisheries and Industry noted that there is a need to attract investors who can add value to Uganda’s rich agricultural commodities.


“According to our records, Uganda is the second largest producer of coffee in Africa and the number one exporter of coffee from Africa. In 2022, we earned approximately USD860 million from export of coffee. Compared to other coffee producing nations, revenues earned from our coffee exports remain low because of limited value addition. There is a need to attract investors who can add value to Uganda’s rich agricultural commodities,” he said.


The gathering which has attracted participation from the business community in both Uganda and South Africa received information from government agencies and authorities regarding viable opportunities to explore for investment.
According to the Uganda Investment Authority, there is untapped potential and significant opportunities in coffee, cocoa, maize and bananas as key agricultural commodities that require deliberate value addition and have had good yields at a national level over the years.


From the various deliberations, it became increasingly evident that a key opportunity for collaboration is agriculture.
During a panel discussion, various Ugandan entrepreneurs pointed out the need for financial institutions to provide the required financing to explore greater trade opportunities.
Absa Bank Uganda committed to continuing to finance the opportunities in the sector providing financial solutions including working capital and trade financing.


“UGX12 trillion of total private sector lending across the sector is to agriculture reflecting the commitment to financing agriculture despite the associated risks. Our lending to agriculture continues to grow and currently taking up 10% of lending on our loan book. Lending to small scale farmers remains a challenge however we have embraced this challenge and found solutions to reduce the associated risks through various financial solutions including value chain financing which allows us to finance the entire agriculture ecosystem. Trade and working capital finance are also viable financing options available to the agriculture sector,” said Mumba Kalifungwa, Managing Director, Absa Bank Uganda.


Overall, the summit deliberations revealed the need to share best practice among players in the agriculture eco-system and have deliberate conversations targeted at finding unique African solutions towards addressing overarching issues such as quality and standards, enhancing agricultural productivity, inclusive growth to support growth of even small-scale farmers.
Key to the summit agenda to address the balance of trade between Uganda and South Africa is the need to nurture anchors for trade.


“Key to enhanced trade is the need to establish enabling policies and the need for the business community to understand policies and laws in each country that support trade and investment including land tenure, licensing, tax laws and other compliance matters that companies must adhere to. We also need to ensure that there is supporting infrastructure, financing, and mechanisms for conflict resolution and mediation to address mistrust and problems that may arise,” said Angela Thokozile Didiza.

Stories Continues after ad

UPDF engages International Researchers on management of children in war zone areas

The Uganda Peoples’ Defence Forces Contingent under the East African Community Regional Force has received a joint team of researchers from Save the Children and the International Peace Support Training Centre – Kenya (IPSTC) who are on a research engagement at the Uganda Contingent headquarters, Niongera in Rutshuru territory of North Kivu -Eastern Democratic Republic of Congo (DRC).

Colonel Michael Walaka Hyeroba, the Commander of UPDF Contingent who welcomed the team said that the effects of the war in DRC especially on the children that has seen consequences of child labour, abductions and forced conscription into the various armed groups which stem from the insecurity within DRC.

According to the Head of the IPSTC research team, Lt Col Japeth Madada Mwasaru said that the exercise targeted EACRF peacekeepers starting with the force headquarters.

Ms Fatuma Ibrahim, the IPSTC lead trainer said that the research was based on six grave violations that the United Nations is mandated to monitor and report on under the United Nations Security Council Resolution 1612 (2005) namely; denial of humanitarian access for children, attacks against schools or hospitals, abduction of children, sexual violence against children, recruitment or use of children as soldiers and killing and maiming of children.

Officers of the UPDF contingent later had an interactive discussion with the researchers about issues affecting children within the peace and security architecture both as victims and actors in the conflict as enshrined in Article 38 of the United Nations Conventions on the Rights of the Children.

The discussion aimed at furthering the peace and security agenda and also contributing to training and educating of the EACRF peacekeepers engaged in peace support operations about the general management and handling of the children affected by armed conflict.

Rutshuru territory being in a conflict zone for many years, children in the area continue to face numerous challenges that include; abductions, recruitment into militia forces, maiming and killing of children, and sexual violence among others.
The research and knowledge attained by the forces about the management of children in armed conflict will help to guide the Peacekeepers on how to handle children victims/witnesses of grave violations and professional steps to take in protecting the children.

IPSTC is an international centre of excellence in Peace Support Operations (PSO) that conducts training, education and research, informing military, police and civilian personnel in all aspects of peace support operations in order to improve the effectiveness of the response to complex emergencies.

Stories Continues after ad

Museveni urges NRM leaders to stop using money in politics

President Yoweri Kaguta Museveni has warned politicians, especially members of the National Resistance Movement (NRM) party against using their own money in politics with the hope of solving all their constituents’ problems.

According to the President, the move is very expensive and depletes resources without creating any significant change to the population.

“As if you haven’t been following political leadership. I don’t know why you use money in politics. That is a very big mistake. I would really advise you that this is wrong, counterproductive and unnecessary. Stop this bad politics,” Museveni said.

The President made the appeal at Kololo Independence grounds while meeting 478 NRM party flag bearers and chairpersons drawn from the 5 divisions that make up Kampala namely; Rubaga, Nakawa, Kawempe, Makindye and Kampala central.

H.E Museveni who is also the NRM National Chairman encouraged members to use the word of the mouth by telling people what they can do using government resources not their own money.

“If they listen and elect you, it will be good. If they don’t want to, you do other things and remain stable in your life. They will come back to you if you convey the message of the NRM. But it’s not good and it’s a very big mistake to use personal money in politics,” the President noted, adding that for all his 63 years in Uganda’s politics, he has never sold his cows to facilitate elections.

“Politics is about diagnosis and prescription. You’re like a doctor who checks for the disease, prescribes the medicine and later the doctor is paid. The sick pay the doctor, not the other way round. What you’re doing is really wrong. Don’t mix family income with politics. I have been in Uganda’s politics for 63 years now since 1960 but I have never sold my cows for politics,” the President further emphasized, calling upon leaders to promote government programs in search of support. He gave an example of the 1.2 trillion Uganda shillings injected in the Parish Development Model (PDM) and the billions of shillings in Emyooga and other government programs aimed at uplifting people from poverty.

He asked party leaders to encourage and promote politics of unity among Ugandans to create a market for goods.

The president was however sad to learn that the party had lost 15 flag bearers since elections and promised to send 10 million shillings condolence message to each of the bereaved families.

The Minister for Kampala and Metropolitan Affairs, Hajjat Minsa Kabanda thanked the President for being an exceptional leader who listens to the people he serves and offers solutions to their problems.

“They also want to go to Kyankwanzi for leadership training. They are our people and very useful to our party. They are ready to stand on our party ticket again come 2026,” she said.

The NRM Deputy Secretary General, Hon. Rose Namayanja appreciated President Museveni for meeting NRM flag bearers in Kampala for the third time in two years. She also expressed gratitude to the President for his stand against homosexuality and all efforts aimed at preserving the culture and values of Uganda.

“We thank you for standing firm for Africa and for our culture and we’re behind you,” Namayanja said.

She also assured President Museveni that the people of Kampala are ready to support the ruling party in the next general elections since they have realised that the opposition has nothing to offer to them.

“This is your army, we have hopes that if they are well supported, they have the ability to help NRM go back to the top in Kampala,” Hon. Namayanja added.

The NRM flag bearers congratulated President Museveni upon celebrating 50 years of marriage with Mama Janet saying it was a big statement in efforts to preserve and recognize the family institution in Uganda.

Stories Continues after ad

Tanzanian trafficker intercepted with Cocaine at Entebbe International Airport

A 37-year-old Tanzanian national has been arrested after an operation conducted by the Joint Point Control Unit and seized sixty (60) pellets of cocaine.

Shabani Siriri Abdallah was arrested on Thursday last week following the receipt of information about his intended travel with the narcotic drug to Uganda.

According to the informer, Shabani, who had been previously intercepted in South Africa, had originally intended to fly to Dar es Salaam but changed his flight to Uganda, arriving on August 24, 2023.

Shabani was subsequently detained by a JPCU officer, and during a joint investigation with the aviation police’s anti-narcotics unit, it was discovered that he had ingested drugs.

Further investigations revealed that he flew from Brazil to Dar es Salaam, Addis Ababa, and finally Entebbe.

The JPCU officer revealed, “During the drug egestion process, 60 cocaine pellets were recovered, and these are currently in the police’s custody. Additionally, the case has been handed over to the anti-narcotics aviation police at Entebbe for further management.”

Meanwhile, the JPCU is a multi-agency unit of Customs officers, Uganda Wildlife Authority officers, and Police officers (from anti-narcotics and Interpol units).

The team implements the Container Control Programme of the United Nations Office on Drugs and Crime (UNODC) and Uganda Customs Organization, whose ultimate goal is to curb all forms of illicit trade, including drug trafficking, abuse of Improvised Explosive Devices (IED) and drug precursors, wildlife trafficking, counterfeiting, stolen vehicles, and money laundering, among others.

Stories Continues after ad

Australian national charged to court for rape and human trafficking

SCP Enanga Fred, Police Spokesperson.

The Sexual and Gender Based Violent Department of CID headquarters, in coordination with the office of the Directorate of Public Prosecutions (DPP), have charged to court a foreign national with rape and trafficking in persons.

The suspect, identified as Jones Robert Williams, is an Australian, and Managing Director of Jinja Marine supplies Co. Ltd, who was arraigned in Jinja Chief Magistrates Court for rape and trafficking in persons.

SCP Enanga Fred Police Spokesperson said, “As you are all aware Human Trafficking and Sexual abuse are disgraceful and unacceptable crimes in society. The suspect in this case is a foreign national, who took advantage of his female workers, and conditioned them into having sexual intercourse with him, failure of which, he would threaten to sack them.

Enanga also revealed that he had group sex with the female victims and also instructed them to perform sexual acts, using sex toys, as he recorded them on videos. Several videos were recovered and exhibited. The pornographic content that was created was shared on specialized websites at a cost.

“We urge anyone with information about potential Human Trafficking offences in their area to contact the police, so that further enquiries can be carried out. We need the public to work with us, if we are to identify and help vulnerable individuals from being exploited,” Enanga cautioned.

However, the police and ODPP will continue to investigate and vigorously prosecute human traffickers and sexual predators, in order to bring justice to victims.

“We will continue to pursue those who abuse, manipulate and exploit vulnerable persons for personal gain. This case is a testament of our Joint dedicated efforts and commitment to working together, to eradicate these deplorable crimes from our community,” Enanga said.

Stories Continues after ad

LOP Mpuuga challenges gov’t over several bomb warnings

LoP Mpuuga.

The Leader of Opposition (LOP), Mathias Mpuuga has castigated the government for refusing to update the nation on the security situation in the country, following several bomb scares, wondering why the Speaker has to plead to cabinet for updates on such sensitive matters.

Over the weekend security agents foiled a suspected terror attack at Rubaga Miracle Centre Cathedral, in Kampala reportedly recovered some bomb-making devices in other localities.

“I would expect that the Ministry of Defence and Ministry of Internal Affairs to be sensitive and even move ahead of the Speaker to come and make a statement on such a sensitive national matter. It speaks a lot about the people managing our security in our country that Parliament, which is the voice of the people, doesn’t deserve to know and ask particular legitimate questions,” Mpuuga said.

“We demand that the Minister in charge of Security appears and explain what is happening. What should we tell our voters, that somehow the Speaker is demanding & you don’t care. You are the Executive, we are Parliament, are you sleeping on duty? What have they come to do, beyond securing the nation, why are you here, to tell us what? I believe they are cheating us and taking the house for granted,” Mpuuga said.

Rukia Nakadama, 3rd Deputy Prime Minister rejected claims that the government is sleeping on the job for failing to update Parliament on terror threats in the country, saying President Museveni has not yet authorized the Minister of Security to issue such a statement.

“I want to assure this house that the Executive is not sleeping on the job, if it was doing so, you would not have known what is happening in the countryside. Because it is because of the work that the Executive and Security is doing, you were informed of what is happening and what has been done. On matters concerning security it is supposed to be the President to guarantee the security minister to come and brief and I understand he is aware and the Cabinet was briefed,” Nakadama said.

Nakadama also warned MPs against rising publically complaining about the limited human resource and equipment at their district Police stations, saying such a move exposes vulnerability of their areas, thus setting their districts up for attacks by terrorists.

“Security issues are not supposed to be public, you are alerting people how vulnerable you are, since they are security issues you need to be vigilant and not expose your weak points,” Nakadama cautioned.

However, Speaker Anita Among asked Deputy Prime Minister Nakadama not to defend the undefendable saying Parliament is not interested in details on how the bombs are being detonated, but rather how the nation should live amidst the bomb scares.

“We will not continue listening to Enanga alone, because for me I learnt from Enanga, let the Minister come and give a report and tell us how to live, we need to be guided as a country,”

Among also commended police for the swift response on suspected terror and urged the general public to remain vigilant and always work with security.

 “I commend the security for their swift response and urge the general public to remain vigilant and always collaborate with security,” Among applauded.

Stories Continues after ad

UNRA clears buses to use Katonga Bridge

The Uganda National Roads Authority (UNRA) has finally cleared 69-seater buses going to and from western Uganda to use the temporary bridge erected over River Katonga.

Since May 2023 when floods washed away the bridge, it has been closed to bigger motor vehicles including buses and trailers.

In a statement, UNRA revealed that buses had been cleared to use the bridge, following an assessment of its integrity.

“Following the continuous technical monitoring and recent assessment conducted for the old existing bridge at Katonga, it has been established that the bridge can withstand loading up to 30 tonnes,” UNRA announced.

“As a result, the existing bridge has now been opened to all buses in addition to the light vehicles that were earlier permitted to use the section under the precautionary measures that are to be implemented immediately by the Contractor (China Communications Construction Company Ltd) during this time.”

UNRA further advised all permitted traffic to follow the signage in place and all the traffic guidelines established at a safe approach distance to the bridge.

Larger vehicles over the past three months have been using the diversion route through Butambala, Gomba, Sembabule, and Kalungu to connect to Masaka.

Initially, the plan was to build a steel bridge over Katonga that could support all vehicles in a period of two months; as the government embarks on construction of a larger elevated bridge.

However, the works on the steel bridge are reported to have stalled after the government failed to agree with the contractor on the cost.

UNRA said yesterday that the steel bridge construction works are ongoing and that completion will enable full restoration of traffic at Katonga section before permanent works can commence.

Stories Continues after ad

UPDF officer killed in fatal accident

Uganda Peoples defence Forces-UPDF officer attached to the Airforce, Corporal Busoke Martine, has tragically lost his life in a severe road accident that occurred in Kitubulu, Katabi town council, Wakiso district.
Traffic police reported he was speeding on a slippery road after a morning downpour. They advise caution on the Entebbe Expressway and the stretch after the Mpala exit toll.
Details to follow…

Stories Continues after ad

Housing Finance Bank earns a certificate of acceptance to sustainability standards and certification initiative in a bid to drive it’s affordable home ownershipmandate

Housing Finance Bank (HFB) proudly announces the receipt of the Certificate of Acceptance to the Sustainability Standards and Certification Initiative (SSCI) during the 10th Global Sustainable Finance Conference recently held in Karlsruhe, Germany. This recognition underscores HFB’s steadfast dedication to sustainability, responsible business practices and alignment with global Sustainable Development Goals and national development agenda.

The journey towards becoming a sustainability-certified bank began earlier this year, with HFB proactively subjecting its Environmental, Social, and Governance practices to a rigorous benchmarking process and comprehensive evaluation with the overall aim of providing sustainable financing to enable home ownership across all segments of the population, including low-income earners and aspiring first-time owners, at a time when Uganda’s housing deficit estimated at 2.4 million houses, and growing at a rate of 200,000 housing units per annum. 

The Certificate of Acceptance was received by Board Chairperson David G. Opiokello on behalf of the Bank in a delegation he led, which comprised the Managing Director, Micheal Mugabi, and other executive team members. The delegation was joined by esteemed dignitaries, including Uganda’s Ambassador to Germany, H.E. Kuteesa, The Lord Mayor of Karlsruhe, Dr. Frank Mentrup, Mr. Arshad Rab, CEO of the European Organization for Sustainable Development, and the Chairman of the International Council of Sustainability Standards.

David G. Opiokello, Board Chairperson, HFB expressed his enthusiasm for the recognition, stating, “At Housing Finance Bank, our vision for a sustainable future goes beyond words; it is a tangible commitment that we have engrained within our new strategic plan to shape our solutions to customers and stakeholder activities at large. This recognition solidifies our unwavering commitment to promoting sustainable financial independence and transforming homeownership dreams into reality for our fellow Ugandans while being resolute in ensuring a better future for generations to come.”

Micheal Mugabi, HFB Managing Director and a driving force behind the Bank’s sustainability initiatives, also shared his thoughts on the accomplishment. “This certification is a testament to our unwavering commitment to building a sustainable future for our customers, employees, and communities in a process that started earlier this year. Sustainability is at the core of our business strategy, and we firmly believe that responsible banking is not only vital for the well-being of our society but also crucial for the long-term success of our institution. This recognition encourages us to continue leading the way in sustainable finance, innovate for a greener tomorrow, and empower Ugandans with the tools and solutions they need to achieve their housing and financial goals.”

As Housing Finance Bank continues its journey towards a more sustainable future, it remains steadfast in fostering positive change and contributing to the betterment of Ugandan society by encouraging the transition to a climate-neutral, resource-efficient, and resilient economy and aiding social inclusion.

Stories Continues after ad

UPDF soldiers in Equatorial Guinea continue to protect president against raging coups in W. Africa

Lt.-Col.-Wycliff-Keita who has been promoted to the rank of Brigadier.

The Ugandan troops in the western African country of Equatorial Guinea have given the President Teodoro Obiang Nguema confidence and protection against the surging Coups in West Africa. 

About 700 soldiers have been deployed in the West African country to train and mentor the weak national army which was about 1,500 personnel when the UPDF deployed there in 2017.

Military coups in the region-Mali 2020 and 2021, Guinea Bissau in 2021, Burkinafaso in 2022 and recently Niger and Gabon in 2023 have created fear in the region especially those countries formerly colonised by France.

President Nguema, who assumed power in 1979 after overthrowing his uncle Fransico Macia Nguema, the country’s first president, is being guarded by Ugandan troops drawn from different UPDF units.

” The UPDF has been mentoring their troops and think soon they will be able to stand on their own,” said a UPDF source

The Equatorial Guinea, a former Portuguese colony and like Gabon is being ruled by one family. The Vice president is Nguema’s son. 

Stories Continues after ad