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Is the World Bank impending democracy in Uganda?

Amb. Mayega

By Amb. Henry Mayega 

A couple of days ago, the World Bank in a watershed moment suspended new requests for its financial ā€œassistanceā€ to Uganda owing to our country’s passing into law the Anti-Homosexual Bill. In its statement, the bank said its position would pivot on the petition before the Ugandan courts of law. Ugandans of good standing, save the conspiratorial outcasts, appreciated the bill that sky-rocketed in popularity henceforth hitting almost 100% support across the political aisle in the August House. Uganda’s post-independence best President, Yoweri Museveni, signed it into law in May, 2023.

Firstly, this matter which excited our westerly lecturers on democracy into pressing the World Bank to suspend Uganda’s access to ā€œaidā€ is before our competent courts of law where the depository is also domiciled. Isn’t that a case of sub judice? Those haters of this administration, plausibly, hurried the bank to effectuate the suspension in order to settle old scores. Could it be the way we voted on the disconcerting Russia-Ukraine debacle? Or it was a pay-cheque for our drawing closer to the east recently? The bank essentially put the cart before the horse; ideally, its naked exhibition of impatience by failing to wait for a court verdict is luridly messy, grossly incongruent in law and starkly suspect. 

Secondly, the bank knows that the Anti-Homosexuality- law passed outrightly the requisite litmus tests of the democratic process to the letter. A committee of parliament scrutinized the private members bill, the public made petitions and the parliamentary plenary perused it and passed it into law. And on popular demand, both in public and across the political aisle on the floor of the August, it was clear that Uganda was not going to accept sodomy as one of its cultural traits. It appears the bank’s respect for the democratic principle of separation of powers between the three arms of government is in doubt? Blatantly put, the bank’s vanity is ludicrously impeding Uganda’s democracy.

Thirdly, Uganda sovereignty’s is neither in doubt nor negotiable. We are free to enact our laws as, how and when we like just as all countries do including those that perennially lecture us. Any infringement on our sovereignty by interlopers is particularly obnoxious, super wrong and an overreach.

The independence we struggled for and obtained on October 9, 1962 wasn’t in vain: Which vindicates the position many are demanding namely the need to reform the governance at the bank if it must survive into the future of a multipolar world currently shaping up. Uganda in particular or Africa in general are not sufficiently represented in the droughty rooms of the bank and its governing board? Absolutely not. That in a sense explains the arbitrary and inimical decisions always taken in our absence at the Washington DC headquartered depository. 

Fourthly, Uganda is a bona-fide member of the World Bank and as such, like any other member, it ought to be treated with the requisite decorum. The bank’s board woke up abruptly and disparaged one of its paid-up members over, you know what? ā€œrights to homosexualsā€ – a humiliating affront to both Uganda and the bank’s moral compass itself under the guise of ā€œWorld Bank values.ā€ Arguably, the bank’s moral fibre is hanging in balance – an unprecedented oddity. The closer parallel to the bank’s suspension of ā€œaidā€ to Uganda was on March 2, 2023 when it halted all programs in Russia and Belarus due to the conflict in Ukraine and when ā€œaidā€ to Kenya over exclusively awarding construction contracts of the Lamu Port and Express Way to Chinese companies.  

Fifthly, national laws can never be uniform at the global echelon. This column typifies this as follows; whereas some countries are aristocratic by law, others are republics while others combine elements from both. I know of countries where sodomy is completely forbidden and the World Bank won’t wag its finger against them because they are either economically/politically powerful or they have completely disengaged themselves from the over-reach of the ā€œwestern value system’s crusade.ā€

Sixthly, Uganda like many other countries cannot sacrifice its value system at the altar of expedience; certainly, those values do not include sodomy – we are a clear mismatch with the World Bank’s. We will surely pivot away from those who want to re-write them on our behalf and toward others who respectfully don’t interfere with them. 

Lastly, it would appear that the World Bank is chasing many into BRICS. Does the bank’s decision on Uganda and others make good business sense given that both BRICS and the World Bank are competitors?

I guess BRICS will gleefully admit whomever gets estranged from the World Bank.

Ambassador Henry Mayega

Consul General

Uganda Consulate General

Dubai, UAE

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Equity sends 98 students to global universities

Yunus Mugabe receives a dummy check of USD1000 from MD Equity Kituuka Anthony

Equity Group Foundation (EGF) Executive Chairman Dr. James Mwangi has commissioned the airlift of 98 scholars who have secured admission and scholarships to join 52 global universities located in 18 countries. The scholars are drawn from the Equity Leaders Programs in four countries – Kenya (73), Rwanda (19), DRC (5), and Uganda (1). The 98 scholars have secured scholarships valued at Kshs. 2.44 billion (USD 17,116,817) for the 4-year duration they will be pursuing their undergraduate studies. Equity Group will provide an airlift token of up to Kshs. 200,000 to each of the scholarship beneficiaries to support the transition into their global universities. Ā 

Equity bank leaders and ELP Scholars college counselling

The scholars who are part of Equity’s paid-internship program, have benefited from college counselling under EGF’s Education and Leadership Development pillar. The intensive college counselling program ran for two months where scholars are coached and mentored on essay writing, university selection, and provided for training on admission exams taking as applicable. Additionally, the scholars have been taken through a week-long camp where they have received guidance on the transition journey to becoming global scholars.

Speaking at a ceremony to celebrate the scholars, Dr. Mwangi lauded them for staying focused on their goals and securing funding and scholarship to access the world’s best education systems. ā€œAs you step into this new phase of your life, remember that you have earned your place competitively among thousands of applicants from around the globe. You have differentiated yourself and demonstrated that you have what it takes to be a true global citizen. I urge you to keep that focus in your quest for knowledge. Remember that with you, Africa has hope that it can leapfrog on several development indicators, and I encourage you to remain rooted on the continent’s ambitionsā€.

The scholars will be joining universities in different countries across the globe including the United States of America (USA), Canada, United Kingdom, China, India, United Arab Emirates (UAE) and Hungary among others.

In line with Equity Group’s strategy the Africa Recovery and Resilience Plan (ARRP), Dr. Mwangi who serves as Equity Group Holdings Plc MD and CEO reminded the scholars on the six pillars that anchor the plan with emphasis on the last one on Technology-enabled ecosystems where they have an opportunity to make significant impact. ā€œYou will be joining academic institutions that work collaboratively with the private sector and research and who invest in cutting-edge technology necessary to give you globally competitive knowledge and skills. Take advantage and learn as much as you can but keeping a lens on how such technologies and systems can empower you to innovate solutions to Africa’s challengesā€, he added.  

In his advice to the outward-bound scholars, Dr. Mwangi remarked that data from the global alumni indicated that 47% proceed to work in Tech for leading companies such as Amazon, Google, Meta, and Microsoft. A further 21% work in Consulting for companies such as Bain, Boston Consulting Group, McKinsey and 15% end up in Finance in organizations such as Wellington, Fidelity, and BNP. The ELP Global Alumni have also ventured into social entrepreneurship upon returning to the continent and set up successful startups in various sectors such as health, education, and human capital management. In the process, they have continued to create jobs both directly and indirectly which contributes to Equity’s overall goal of creating jobs through the ARRP.  

Speaking during the Airlift Ceremony, one of the scholars, Jok Magok Kuch from Kakuma Refugee camp, expressed his excitement and enthusiasm, ā€œI’m excited to join the University of Toronto under the Equity Leaders Program. I aim to acquire knowledge and skills to contribute to Africa’s transformation through quality education and transformative leadership. I strongly believe this opportunity will enable me to become a living testament to the positive impact of Equity’s mission,ā€ he said.

Zeddy Kipyegon, who is joining New York University, Abu Dhabi also noted “Under the Wings To Fly program, I was well taken care of while in high school. I then joined the ELP program where I got access to multiple opportunities as a scholar. Being a part of the program has transformed me a lot”.

With this year’s admissions, a total of 856 students have so far benefitted from the college counselling program and have successfully received admission to prestigious universities on fully funded scholarships. This intake includes 14 students who will be joining Ivy League Universities including University of Pennsylvania (3), Yale (3), Harvard University (3), Princeton University (2), Cornell University (1), Brown University (1) and Columbia University (1).

The Equity Leadership Program is an Equity Group Foundation initiative that was established in 1998 to nurture leadership skills in the youth who have demonstrated great promise. The rigorous leadership development program selects top-performing students nationally from the Equity Group banking subsidiaries with the aim of creating a community of transformative leaders who will work together across borders and various sectors to drive sustainable economic growth and social progress in Africa.

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GA Insurance, Sanyu FM celebrate Mayhem Winner with exclusive Mombasa getaway

GA Insurance, in collaboration with Sanyu FM, have announced Emily Mahero as the fortunate winner of the Mayhem series, securing an all-expenses-paid trip for two to the breathtaking shores of Mombasa.

This exciting partnership between GA Uganda and Sanyu FM provided a platform for participants to engage in a series of engaging questions, including insightful inquiries about travel insurance.

Emily Mahero, an ardent Sanyu FM listener, clinched the coveted prize by responding accurately to questions revolving around the realm of travel insurance. She shared her elation, stating, “The questions about travel insurance instantly resonated with my own experiences. I recalled a time when my friend and I were navigating the complexities of travel insurance. The Mayhem series provided the perfect opportunity, and I seized the moment.”

Travel insurance has garnered unparalleled importance, particularly in the current landscape dominated by #Covid-19 and the ever-present potential for mishaps while exploring new horizons. Theft, property loss, and unforeseen medical emergencies can turn a dream trip into a daunting ordeal. GA Travel insurance acts as a steadfast companion, offering financial safeguards against the unexpected. From missed flights to lost baggage and medical expenses, GA’s travel insurance encompasses an array of situations, ensuring travelers embark on their journeys with peace of mind.

“We are thrilled to celebrate Emily Mahero as the deserving winner of our Mayhem series in partnership with Sanyu FM. This initiative reflects our commitment to engaging with our community and highlighting the importance of travel insurance. With the evolving dynamics of travel and the uncertainties of our times, the value of travel insurance cannot be overstated. At GA Insurance, we stand dedicated to providing comprehensive solutions that not only protect our clients’ assets but also offer peace of mind during their journeys. Congratulations to Emily, and we look forward to continuing to serve our customers with unwavering dedication,ā€ said Gordon Asiimwe, Marketing Manager GA, Insurance.

As a fully owned subsidiary of GA Insurance Limited, GA Uganda boasts a formidable legacy spanning over 70 years, solidifying its standing as the premier property underwriter in East Africa with remarkable Gross Written Premiums (GWP) exceeding $110,000,000. With unwavering dedication, GA Insurance Uganda Limited is duly licensed and regulated by the Insurance Regulatory Authority of Uganda to deliver a comprehensive suite of general insurance products, including the crucial medical insurance component.

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Judiciary deploys 96, transfers 74 officers to enhance access to justice

Chief Justice, Alfonse Chigamoy Owiny – Dollo.

The Judiciary has deployed 96 of the newly appointed Judicial Officers and transferred 74 others with an aim of enhancing access to justice and strengthening the capacity of the courts.

The 96 include six Registrars, five Assistant Registrars and 85 Magistrates Grade I.

In a statement, the Chief Justice, Alfonse Chigamoy Owiny – Dollo, noted that the new deployments are geared at strengthening the capacity of the Courts to settle disputes in a timely manner and promote the rule of law.

ā€œWe believe that the new deployments of 96 new Judicial Officers and the Transfers will not only enhance the efficiency of our courts but also reinforce public trust in the judicial process. This move aligns with our mission to efficiently and effectively administer justice,ā€ Owiny – Dollo said.

While releasing the transfer list, the Chief Registrar, HW Sarah Langa Siu stated that the transfers and deployments have been informed by caseload and the fulfilment of the Chief Justice’s promise to extend judicial services closer to the people. With the new Magistrates, many Courts have been fully operationalized.

The new Courts include Toroma, Ishongororo, Busesa, Ndaija, Ruhama,Karugutu, Omoro, Kicheche, Kyankwanzi, Amudat, Maracha and Nyadri.

The other areas that have equally benefited from the deployments are Atiak, Mulanda, Hakibale, Kisinga, Kakindu, Kyangwali, Kiyunga, Kyanamukaka, Kigumba, Kasanda and Kyarusozi.

HW Langa is optimistic that with these numbers at the Magisterial level, the lead times for case disposal as well as backlog in the Magistrates Courts will significantly reduce.

The Magistrates Courts now have 457 Officers in the recently expanded structure.

These include 91 Chief Magistrates; 10 Senior Principal Magistrates Grade One; 20 Principal Magistrates Grade One; 33 Senior Magistrates Grade One and 303 Magistrates Grade Ones.

Among the notable Acting Registrars affected by the changes is HW Lamunu Pamella Ocaya from Anti-Corruption Division to Inspectorate, HW Katushabe Prossy from Family Division to Judicial Training Institute and HW Ereemye Jumire J.M. have remained at the Registry of Magistrates Affairs and Data Management.

The deployments are with immediate effect, while the transfers are with effect from September 1, 2023.

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Lugoloobi says Finance Ministry is not involved in number plates pricing

State Minister for Planning, Amos Lugoloobi (right) and the Permanent Secretary/ Secretary to the Treasury, Ramathan Ggoobi, appearing before the House Committee on Finance.

The Minister of State for Finance, Planning and Economic Development (Planning), Amos Lugoloobi has said that his ministry did not play a part in pricing the Shs732,000 new digital number plates deal.

Lugoloobi also revealed that the ministry did not conduct due diligence on Global Security, the company to undertake the contested exercise.

Speaking to MPs on the Committee on Physical Infrastructure on Tuesday, August 15, 2023, Lugoloobi said because the contract had a security element, it was a classified procurement.

ā€œFinance was not part of the team that did due diligence as this is a security matter and as a ministry, we rely on the technical expertise of the Office of the President,ā€ he said.

Committee Chairperson, Dan Kimosho Atwijukire put him to task on who specifically determined the charges to be borne by motorists.

ā€œWho developed the financial model? Who arrived at the figures?ā€ he said.

ā€œIt was developed by Global Security and it was reviewed by a technical team including the Ministry of Finance,ā€ said Paul Mwanja, a Commissioner in the Ministry of Finance.

To Atwijukire, this was a contradiction. ā€œā€¦contrary to what the Ministry of Security told us…that they developed the [financing] model with you [Ministry of Finance]; he told us that you developed this model,ā€ he said launching the Finance Ministry into episodes of denials and contradictions, ultimately asking the committee for more time to consult and harmonise.

Atwijukire said sidestepping due diligence on the company is in violation of Sections 5 and 7 of the Public Private Partnership Act 2015 which establishes the Public Private Partnership Committee whose role, among others, includes to, ā€˜examine and approve feasibility studies’ in projects in which the government has interest.

The membership of the committee includes the Permanent Secretary in the Ministry of Finance, Planning and Economic Development, who also doubles as the Secretary to the Treasury.

MP Fred Kayondo (DP, Mukono County South) criticised the officials for contradicting each other, blaming them for what he termed as an over-priced contract.

ā€œ(Ministry of) Security was here and was pinning the Ministry of Finance for having developed the financing model. The Ministry of Finance is pinning the company for having done the financing model; whichever it is, a normal procurement or classified, there is no procurement which eliminates due diligence,ā€ he said.

Kampala City Traders’ Association (KACITA) petitioned Parliament over the plans to introduce digital number plates, which they argued will drive many into unemployment, and that it is exorbitantly priced.

Lugoloobi, however, said he is in no position to speak to the security aspects of the project but defended the price, saying the cost for securing the country will have to be met anyway.

ā€œā€¦you will note that all the issues raised by KACITA fall within the responsibilities of the Minister of Works and Transport, and the Minister of Security who appeared before this committee,ā€ he said.

He added that, ā€œyou have seen how boda bodas (commuter motorcycles) have been used to cause insecurity in this country. The Government of Uganda will not afford to provide the Shs732,000; that cost will be shifted to the person who is on the road, otherwise, you don’t get on the road because you can be a source of insecurity on the road’.

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Bank of Uganda lowers lending rate to 9.5% to stimulate economic growth

Deputy Governor Dr. Michael Atingi-Ego.

Bank of Uganda has lowered the Central Bank Rate (CBR), for August 2023 to 9.5% from 10% for July in a bid to stimulate economic growth amid weak domestic demand.

In a statement released on Tuesday, August 15, 2023, Deputy Governor Dr. Michael Atingi-Ego said while inflation has continued to drop to below 5%, there is weak domestic demand.

ā€œThe Uganda Bureau of Statistics (UBoS) data showed quarter-on-quarter average economic growth of -6.5% in the second and third quarters of 2022/23. The agriculture, industry and services sectors posted -21.6%, -2.3%, and -1.3% growths in activity. Private sector credit growth was moderate amidst tightening bank lending standards. In addition, the high-frequency economic indicators pointed to weakening growth momentum during April to June 2023,ā€ Dr. Ego said.

The Central Bank Rate is the interest rate at which a nation’s central bank lends money to domestic banks, often in the form of very short-term loans. A higher interest rate means commercial banks also transfer it to borrowers, which in the process stifles private sector growth.

The Deputy Governor explained that the Monetary Policy Committee (MPC) noted that the materialization of the downside risks to economic growth could lead to a sharper decline in GDP growth.

ā€œThe current economic forecast suggests that economic activity remaining below capacity over the next two years will exert downward pressure on inflation,ā€ he said.

ā€œIn light of this outlook, the MPC decided to lower the CBR to 9.5% aiming to stimulate economic activity while maintaining inflation around the target. The CBR bands remain at -+/-2 percentage points, and the margins on the CBR for rediscount and bank rates stay at 3 and 4 percentage points, respectively. As a result, the rediscount and bank rates are now 12.5% and 13.5%. In addition, the Cash Reserve Requirement (CRR) has been lowered by 50 basis points to 9.5%,ā€ the Deputy Governor added.

After peaking at 10.7% in October 2022, inflation has steadily decreased to below 5%, faster than expected. Annual headline and core inflation dropped to 3.9% and 3.8% in July 2023 from 4.9% and 4.8% in June 2023, respectively. Similarly, food crops inflation declined to 9.3% in July from 12.3% in June 2023. The deflation of energy, fuel, and utility costs was -1.6% in July from -3.1% in June 2023 and services inflation averaged 3.1% from April to July 2023.

Dr. Ego explained that the decline in inflation was due to tighter monetary and fiscal policies, strengthening of the shilling exchange rate, lower energy and food prices, improved global supply chains, and reduced domestic demand.

ā€œAlso, the drop-in inflation was driven by base effects as the prices are now lower than they were at the same time last year,ā€ he said.

He said the downward inflation trend is predicted to continue in the coming months due to lower international food and fuel prices, better agricultural supply, and decreasing inflation expectations.

However, he said advanced economies will likely maintain tight monetary policies, which might cause currency volatility as foreign investors in local markets seek high returns abroad. Nevertheless, the exchange rate is expected to remain stable.

The Deputy Governor also warned that there are still risks despite improvements in near-term inflation projections compared to June 2023.

On the upside, he said, external risks could drive inflation higher. Factors like ongoing geopolitical conflicts, rising commodity prices, or disruptions in global trade could push up inflation. Sticky inflation in advanced economies might also mean higher interest rates, which could affect economies needing foreign capital as well as their exchange rates. Also, adverse weather could keep food prices elevated.

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LC2 Chairman wanted for aggravated defilement of his stepdaughter

The Territorial Police in Aswa East Region and Pader district has put up a serious manhunt for, Christopher Ali Bongonyonge, the LC 2 Chairman, for Acumu Ward, Acholi bar Town council in Pader district, for the Aggravated Defilement of his 15-year-old, stepdaughter, on the 7.08.2023, at around midnight.

SCP Enanga Fred, Police Spokesperson said that the facts gathered indicate that the suspect, a step father to the victim returned home, picked a panga and started accusing her of indulging in love affairs with boys in the village and forced the victim to sleep in the same room with him.

ā€œAt around midnight, he woke her up and tasked her to lead him to her boyfriend’s home. Along the way, the suspect dragged the victim to the nearby bush and defiled her, then returned home. The victim narrated her ordeal to her relatives and the matter reported to Acholibur CPS in Pader district,ā€ Enanga revealed.

He added, ā€œWe appeal to anyone with information about the whereabouts of the suspect to inform the nearest police unit. The panga, which was used to intimidate the victim, was recovered.ā€

However, Enanga urged all guardians, parents and half-parents, that children look to them for their safety and well-being. It is therefore, disappointing, when this trust is broken by mentors and role models.

Cases of defilement and sodomy have become rampant in Uganda, as at least police register the same cases from different regions of the country weekly.

Yesterday, territorial Police in KMP South and Nateete division, arrested one Mutabazi Deo, a 30-year-old, male adult, of Mutundwe Wabiyinja zone, Bunamwaya division, for the Aggravated Defilement and Sodomy of two male juveniles aged 11 and 12.

The suspect a week ago, called the two victims to his room, lubricated their anuses with oil and sodomised them. Concerned neighbours, alerted the parents to the victims, who tipped the Defence Secretary LCI, of the area, who responded immediately. During arrest, the suspect was found with two other male juveniles, aged 10 and 13, seated on his bed, with lubricated anuses, pending sodomy. The suspect was arrested on charges of Aggravated Defilement and indecent assault.

Such incidents of sexual abuse against young boys and teenagers clearly reveal the dangers they face in the community.

However, police are working tirelessly to ensure all perpetrators of child sexual trafficking, sodomy and other forms of physical abuse targeting young boys and male teenagers are held accountable for their crimes.

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Africans must recapture African Union to save its total collapse

Writer of the article David Matsanga.

By Dr. David Nyekorach -Matsanga in London

The battle for spoils in AUC has reached a new crescendo. AU and its institutions have entered turbulent waters and have been captured by external non-state members namely France. Something has to be done to save AU from total collapse.

The conflicts of Libya, DRC, Sudan, Somalia, Mali and now Niger bring to the fore the need for total reorganization of AU and in particular AUC so as to halt what is coming in years ahead.  The die is cast. The chips are falling where they must. It is sad.

I state without fear that power does not entertain vacuum and in AUC of the AU there is a vacuum. Someone must step in to stop a crisis of legitimacy from happening. Forget about Peace & Security organs that don’t have direction. It is neither here nor there.

It is a Hanging inferno. More military coups on the way. Many more conflicts coming in Africa as a result of bungled elections and foreign influence. That is the sad truth. The AUC and AU are on auto pilot.

An organization in deep crisis. AUC is in total disarray. The staff of AUC are confused, irate, yearning for a better African leadership but can’t find any on offer in the current leadership. He is captured by external dark forces.

Our AU has a problem. The left of AUC and the right are all fragmented, disorganised, elitist, and, in certain respects, poorly resourced and even clueless of what is taking place in Africa. This applies to most, if not all, of the AU institutions. The countries too are affected by the tough challenges of the times.

The most fragile institutions in some African countries (the military) now seem to be taking advantage of the situation to stage military coups. The military in some West African states has the top brass stench in corruption. The middle and lower ranks are angry. Will this anger in most Francophone states boil over and become “boomā€? A putsch from below?

The truth is that when elected to office some politicians in Africa begin to accuse each other and give chance to divisions that see military on the streets. The current coups are all a result of bad civilian rule. But the AUC has no clue on how to stop these plots or the sabotage that is hatched by external powers because it is already captured.

The continent is at the edge of a contrived precipice. The juntas are here once again. Mali, Burkina Faso, Sudan, Niger are not good signs of our new democracy. The juntas are uniting again in Africa like they did in 1960s-1980s when coups were the norm of Africa.

If more states in West Africa fall to military regimes, expect a domino effect across West Africa and to a large extent the entire Africa. This is not what we want in this bad economic time where the world is in an economic meltdown.

But can the AUC be saved? After all, it is still in place and limping. And are the African citizens rooting for the Generals to return to the Streets? Are they bitterly averse to such prospects?

The truth is that some civilian governments in Africa have failed woefully. poverty, corruption, economic meltdown are their highest achievements in the 66years since independence. No light at the end of the pit and there is no tunnel here.

Africans must work hard to reactivate AUC to have, a mass coalition that must do everything to save democracy and national stability in most African nations before it is too late. This is the immediate task of a new AUC. The old one has collapsed.

The new AUC must truly care about ‘democracy’ and ‘national stability’. The latter is about ‘survival’ as an institution, a matter of law and order, peace and above all African citizens security- are all under threat.

In Africa the former is about the freedom to choose who governs us. This too is under serious threat due to bad institutions that conduct our elections.

Most Elections in Africa create chaos instead peace. The trouble starts with the vote count and results announcement. Post-election confusion ‘.

This confusion goes on and in some countries the amount of destruction of property and loss of lives is huge. Africa must look at their constitutions which were cut and paste that create us chaos.

If wishes were horses they would let our African people prevail. But wishes are not horses. So, let’s Act now on AUC to save our continent.

Say no to the external capture of AUC. And let’s make democracy work for the African people not for France and other non-party members.

To do so we need serious new blood at the AU headquarters in Addis Ababa. The current AUC and its organs as constituted is dead.

 I end by restating what Plato said ā€œrisky as it is, you see, I must attempt to speak the truth, especially when I am speaking the truthā€ our continent is at crossroads with a dead AUC.

Thanks

God bless Africa

Surrey United Kingdom

15.08.2023

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Kate Kiiza replaces Sekabembe as new Dfcu Executive Director

Ms. Kate Kiiza

The Board of Directors at Dfcu Bank has appointed Ms. Kate Kabaingi Kiiza as Executive Director replacing Mr. William Sekabembe who went into early retirement recently.

Kate has served as the Chief Financial Officer of Dfcu Bank Limited for the last 8 years.

Her appointment was confirmed by Angelina Namakula-Ofwono, the Company Secretary, Dfcu Bank in a statement on Tuesday.

ā€œDfcu Bank Limited is delighted to announce the appointment of Ms. Kate K. Kiiza as Executive Director, effective August 7, 2023,ā€ Namakula said.

Her career spans over 25 years of experience in Finance, Management, and Business Leadership within the Financial Services Industry and downstream Oil Marketing.

Prior to joining Dfcu Bank Limited, she was Chief Financial Officer at United Bank of Africa, Shell Uganda Limited, and Vivo Energy Uganda Limited.

Her expertise lies not only in her strong strategic orientation and commercial awareness but also in her notable stakeholder engagement capabilities.

Dr. Winifred Tarinyeba Kiryabwire, the Board Chair at Dfcu Bank described Kate as a seasoned financial professional and dedicated female leader.

ā€œThe Board is pleased to have a seasoned financial professional and dedicated female leader step into this role,ā€ Dr. Kiryabwire said of Kate’s appointment as new executive director.

Kate is a Fellow of the Association of Chartered and Certified Accountants (FCCA) and member of the Institute of Certified Public Accountants of Uganda (ICPAU).

She holds a Bachelor’s degree in Economics from Makerere University. She replaces William Sekabembe who was removed from the same post last month. Dfcu is faced with a London legal challenge on how it acquired Crane Bank and its prosperities.

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URSB de-registers 186,000 companies over non-compliance

Mercy Kainobwisho URSB Registrar General

The Uganda Registration Service Bureau (URSB) has de-registered 186,000 companies for non-compliance with annual filing requirements for five consecutive years under the Companies Act of 2012 (Act1).

URSB Registrar General, Mercy Kainobwisho based her judgment on Section 134(5) of the Companies Act 1 of 2012 where on 20th March2023 URSB published a notice requiring all companies to file their annual returns.

Companies that had not filed annual returns for the previous five years were directed to produce a declaration of solvency and explain why they should not be removed from the register.

ā€œIn accordance with Section 134(6) of the Companies Act 1 of 2012, 186,000 companies have been struck off the register,ā€ Kainobwisho said.

Section 134 (1) of the Companies Act 2012 requires all URBS-registered companies to file annual returns within forty-two days of the year’s annual general meeting.

Provision 134(2) of the Companies Act specifies that if a company fails to comply with this provision, the firm and every officer of the company who is in default are liable to a default fine of twenty-five currency points, which is approximately sh500, 000.

The Companies Act further states in Section 134(4) that when a company becomes dormant, the directors must notify the registrar within fifteen working days of the date of the resolution for dormancy.

Section 134 (1) of the Companies Act 2012 requires all URBS-registered companies to file annual returns within forty-two days of the year’s annual general meeting.

Provision 134(2) of the Companies Act specifies that if a company fails to comply with this provision, the firm and every officer of the company who is in default are liable to a default fine of twenty-five currency points, which is approximately Sh500, 000.

The Companies Act further states in Section 134(4) that when a company becomes dormant, the directors must notify the registrar within fifteen working days of the date of the resolution for dormancy.

Kainobwisho further said that URSB will continue to review the records and identify other non-compliant companies in action.

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