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Uganda Cup registers record number in regional preliminaries as Round of 64 draw is held

By
Our Reporter
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Uganda Cup trophy

The 2022/23 season of the Stanbic Bank Uganda Cup gets underway this month with a record 308 teams having competed in the Regional Preliminaries to determine which 33 teams joined the StarTimes Uganda Premier League and Big League sides in the Round of 64.

The 308 teams competing in the Regional Preliminaries is an increase from the 249 teams that competed in the previous season (2021/22) and the 159 teams that competed in the 2019/20 season.

Kampala Region had the highest number of teams in the Preliminary Round with 50 teams competing followed by West Nile Region that had 46 teams. Buganda Region had 41 teams while Northern and Eastern each had 40 teams competing. Kitara, Western and Eastern regions had 33, 30 and 28 teams respectively competing within their regions.

The growth in the number of team is testament to the transformation of the competition since the coming on board of Stanbic Bank as title sponsors in 2018 and Kansai Plascon as co-sponsors in 2021 which has seen the prize money for the competition grow from Shs90 million in 2018 to Shs120 million in 2019 to Shs166 million in 2021 and Shs179 million in 2022.

The Stanbic Bank Round of 64 took place on Tuesday morning with matches scheduled to be played between 28th January and 6th February 2023. This year’s final will be played at Akii Bua stadium in Lira.

The winner represents Uganda in the Caf Confederation Cup. BUL are the defending champions having defeated Vipers SC in the 48th edition last year.

Full Draw

KJT FC v KCCA FC

Elite FC v Arua Hill SC

Bunyaruguru United FC v Kaaro Karungi FC

Packwach Youngstars SC v Onduparaka FC

Nakapelimen FC v Soltilo Bright Stars FC

Mbale Heroes FC v Araka FC

Uganda Pentecostal University v URA FC

Water FC v Lugazi FC

Admin FC v Northern Gateway SC

Free Stars FC v Kitara FC

Kisugu United FC v Maroons FC

Gorilla Highlands SC v Kataka FC

Sparks SC v BUL FC

JLOS FC v Busoga United FC

Simba FC v Adjumani Town Council FC

Paidha Black Angels SC v Kyetume FC

Bukedea Central FC v Blacks Power FC

Bushenyi Veterans FC v UPDF FC

Junior Eagles FC v Soroti FC

Bujumbura FC v Vipers SC

Busei FC v Jinja North United FC

Budondo United FC v Calvary FC

SC Tawai v Mbarara City FC

Ntinda United FC v Ndejje University FC

Kigezi Homeboyz FC v Booma FC

Kiyinda Boys FC v Gaddafi FC

Kireka United FC v SC Villa

Apuutun FC v Police FC

Fort Portal Boda Boda FC v Wakiso Giants FC

Blue Star FC v Luweero United FC

Kajansi United FC v Express FC

Pajule Lions FC v NEC

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Ezra Muhumuza appointed Executive Director of Uganda Manufacturers Association

By
Simon Kabayo
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Dr. Ezra Muhumuza Rubanda

Dr. Ezra Muhumuza Rubanda has been appointed the new executive director of Uganda Manufacturers Association (UMA).

In a statement issued on Monday, 23 January 2023, UMA said , “His knowledge and experience in economic policy will be harnessed to promote the competitiveness of manufacturers within Uganda, regionally and internationally.”

He holds a PhD in Energy Economics, Master of Economic Policy Development and Science in Development Economics.

In response, Dr Muhumuza said: “I pledge total commitment to facilitating growth and competitiveness of our manufacturers in Uganda, regionally and globally.”

Dr. Muhumuza has served in various capacities under Office of the Prime Minister, Ministry of Finance, Planning and Economic Development (MoFPED) and the Uganda National Chamber of Commerce.

He succeeds Mr. Daniel Birungi who, after his five-year tenure embarked on furthering his studies abroad.

Uganda Manufacturers Association aims to bring together Ugandan industrialists and manufacturers in an attempt to guide the industrial actors in the country towards global competitiveness, on a sustainable basis.

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Why did you close Cooperative Bank and where are its assets? – BoU tasked

By
Our Reporter
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BoU Legal Counsel Ms Margaret Kasule whose accused of misleading on Crane Bank Limited legal status.

Bank of Uganda (BoU) has been tasked by the Solicitor General to explain the unclear circumstances surrounding Cooperative Bank Limited and its liquidation.

Cooperative Bank was closed in May 1999 by the BoU due to continued poor performance and non-compliance with regulatory capital adequacy requirements. It was one the six others closed between 1993 and 2016 by BoU majorly for being undercapitalised.

It was first registered in 1964 under the Cooperatives Act and according to records, it has never been liquidated or abolished. Following the tough economic times, its operations were disrupted and it virtually collapsed together with the Cooperative Movement, as privatization and economic liberalization took root.

In an attempt to revive the bank in 1997, it resulted into the formation of Uganda Cooperative Bank Ltd, a limited liability company, under the Companies Act. However, it lasted just two years and allegations of mismanagement and corruption led to its closure by the central bank in 1999.

A letter dated January 11, 2023 signed by JBR Suuza on behalf of the Solicitor General to BOU’s legal counsel Margaret Kasule reads “Which Cooperative bank did Bank of Uganda actually sell? If it is the latter, why were the assets of the former seized and sold instead?”

The letter also adds that it found it necessary to inquire “any other relevant information on the subject” pertaining to the winding up of the Cooperative bank.

BOU was given up to Monday January 23, 2023 to explain which of the two companies was closed.

This comes after the Minister of Trade, Industry and Cooperatives, Henry Mwebesa, sought legal opinion from the Solicitor General regarding the re-establishment of Uganda Cooperative bank.

Minister Mwebesa noted that the process of turning the Bank into a Company had not been completed by the time of closure neither had the “original” Cooperative bank been deregistered. He also demanded details of shareholders who borrowed money from the defunct Cooperative Bank.

In 2019, Ivan Asiimwe, the General Secretary of Uganda Cooperative Alliance Ltd, wrote to the Chairperson of the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE), saying BoU was seemingly complicit or negligent in this whole process of transition as individual persons were allotted shares in the limited liability company instead of Unions and Societies.

He asked the committee to cause Bank of Uganda clarify on which bank was closed; “Is it the Cooperative Bank Ltd under the Cooperative Societies Act or the Cooperative Bank Ltd under the Company’s Act. And if the Cooperative Bank Ltd (the cooperative society) was not closed, why were its assets seized and sold during the liquidation of the Cooperative Bank Ltd (the company).”

Asiimwe also wanted Cooperatives to recover their investment and properties worth trillions of money that were lost during the liquidation process and compel the individual shareholders in the Company and/or Bank of Uganda to provide information regarding shareholding and how they came to own shares and the bank assets in their individual capacity.

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Parliament censures Minister Persis Namuganza

By
Our Reporter
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Minister of State for Housing, Persis Namuganza

Parliament has censured the State Minister for Lands Persis Namuganza. She was censured following a motion which was moved Agago North MP John Amos Okot.

According to the Deputy Speaker Thomas Tayebwa, 348 Members of Parliament voted in favour of the motion, while 5 voted against and 3 abstained.

Rule 109 of the Rules of Procedure require the Speaker to notify the President within 72 hours, and thereafter constitute a tribunal to thoroughly examine the motion, and also accord the minister a fair hearing in which she or her advocate can make her case.

Earlier the Select Committee finds prima facie evidence confirming that the conduct of Persis Namuganza Princess breached the standards of behavior and conduct expected of a Member of Parliament.

Earlier this month, Deputy Speaker Thomas Tayebwa named a seven-member select committee to scrutinise and identify prima facie evidence on the censure motion against Persis Namuganza, the State minister for Lands.

The Select Committee was chaired by Mwine Mpaka. Other members of the committee include Wilfred Niwagaba (Ndorwa East), Mpindi Bumali (PWD), Charles Bakkabulindi (Workers), Nancy Acora (Lamwo District), Betty Naluyima (Wakiso District) and Godfrey Ekanya (Tororo North).

The censure motion against Namuganza, follows after the latter’s handling of the controversial Nakawa-Naguru land giveaway.

The ad hoc committee in their report recommended that Namuganza steps aside for falsifying a presidential directive that saw the Uganda Land Commission allocate the said land to a section of investors.

Namuganza is reported to have said Parliament is powerless and unable to censure her in relation to her involvement in the Naguru-Nakawa land allocations.

The MPs launched the censure motion following Namuganza’s refusal to apologise to Speaker Anita Among and the MPs for her handling of the matter.

While presenting the select committee report, Mpaka said Namuganza failed in her duty to at all times conduct herself in a manner that will maintain and strengthen the public’s trust and confidence in the integrity of Parliament.

“Namuganza did not appear before the select committee for a fair hearing despite several attempts yet she was duly served with letters inviting her to appear before the committee. She ought to have used proper channels of challenging the composition of the Ad hoc Committee that investigated her involvement in the Nakawa-Naguru land allocation,” he said.

The select committee found that her conduct brought Parliament and its members into disrepute and breached the Code of Conduct of Procedure of Parliament.

Following the presentation of the report, Agago North MP John Amos Okot moved a motion to censure Namuganza. The motion was supported by Nathan Byanyima, Barnabas Tinkasimire and other legislators. The house is scheduled to vote against the motion.

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Select Committee: Namuganza breached standards of behaviour

By
Our Reporter
-
Minister of State for Housing, Persis Namuganza

The Select Committee finds prima facie evidence confirming that the conduct of Persis Namuganza Princess breached the standards of behavior and conduct expected of a Member of Parliament.

Earlier this month, Deputy Speaker Thomas Tayebwa named a seven-member select committee to scrutinise and identify prima facie evidence on the censure motion against Persis Namuganza, the State minister for Lands.

The Select Committee was chaired by Mwine Mpaka. Other members of the committee include Wilfred Niwagaba (Ndorwa East), Mpindi Bumali (PWD), Charles Bakkabulindi (Workers), Nancy Acora (Lamwo District), Betty Naluyima (Wakiso District) and Godfrey Ekanya (Tororo North).

The censure motion against Namuganza, follows after the latter’s handling of the controversial Nakawa-Naguru land giveaway.

The ad hoc committee in their report recommended that Namuganza steps aside for falsifying a presidential directive that saw the Uganda Land Commission allocate the said land to a section of investors.

Namuganza is reported to have said Parliament is powerless and unable to censure her in relation to her involvement in the Naguru-Nakawa land allocations.

The MPs launched the censure motion following Namuganza’s refusal to apologise to Speaker Anita Among and MPs for her handling of the matter.

While presenting the select committee report, Mpaka said Namuganza failed in her duty to at all times conduct herself in a manner which will maintain and strengthen the public’s trust and confidence in the integrity of Parliament.

“Namuganza did not appear before the select committee for a fair hearing despite several attempts yet she was duly served with letters inviting her to appear before the committee. She ought to have used proper channels of challenging the composition of the Ad hoc Committee that investigated her involvement in the Nakawa-Naguru land allocation,” he said.

The select committee found that her conduct brought Parliament and its members into disrepute and breached the Code of Conduct of Procedure of Parliament.

Following the presentation of the report, Agago North MP John Amos Okot moved a motion to censure Namuganza. The motion was supported by Nathan Byanyima, Barnabas Tinkasimire and other legislators. The house is scheduled to vote against the motion.

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URA busts smuggling racket in Eastern Uganda

By
Our Reporter
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Some of the smuggled motor vehicle lubricants and assorted drinks.

The Uganda Revenue Authority (URA) enforcement team in Eastern Uganda has busted a smuggling racket and seized over 1000 liters of motor vehicle lubricants and assorted drinks in a clean-up operation in Kapchorwa and Manafwa districts.

The exercise was carried out in collaboration with Brand-guard, a valued stakeholder and defender of the Ugandan realm.

At least 91 cartons of assorted lubricants were retrieved from Kapchorwa, while assorted energy drinks mostly manufactured in Kenya were impounded in Manafwa.

“The operation in Imbalu Land of Manafwa wasn’t smooth as locals hurled stones at the team. One of the officers in the operation explained that Police had to shoot in the air to disperse the crowd that had turned rowdy. Darkness set in so they couldn’t open shops to impound more goods,” URA said in a statement.

“Furthermore, the shopkeepers in question went away on hearing that URA had set foot in the trading center.”

Enforcement noted that the situation in Kapchorwa was peaceful and the team sensitized residents on the dangers of smuggling and benefits of being tax compliant.

Verification findings for Kapchorwa included; 54 boxes x 12ltrs of Shell Advance Oil, 20 jericans x 4ltrs of Shell Rimula Oil, 33 boxes x 12ltrs of Total Rubia Oil and 4 cartons x 12ltrs of Shell Helix HX5.

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Standard Chartered launches Offshore Mutual Funds

By
Our Reporter
-

Standard Chartered Bank Uganda has launched an offshore Mutual Funds product for its clients to enjoy access to hundreds of underlying equities or bonds from Blue-chip companies in the US, Europe, UK, Asia and emerging markets in different sectors like healthcare, technology, real estate and ESG or green investments.

The proposition is a first of its kind in Uganda and will provide the Bank’s clients with an affordable and diverse way to put their money to work in some of the world’s most promising markets. What differentiates this product is its affordability as any individual client can start investing from as low as USD 100 (Shs 370,000) with a simple monthly plan and they can invest in USD, EUR and GBP.

Clients will easily and conveniently invest in these offshore Mutual Funds as well as cash out their investment at any time at market value.

While unveiling the offshore mutual funds proposition, the Chief Executive Officer, Standard Chartered Bank Sanjay Rughani said; “With offshore Mutual Funds, we will be able to offer our clients access to a broader range of markets and industries, and the potential for higher returns. Our experienced Relationship Managers will also provide any client with objective, relevant wealth advisory and solutions they need to achieve their ambitions. All investors can take comfort in knowing that this offshore mutual fund proposition has been carefully designed and will be managed by our team of experienced professionals, and we are confident that it will perform excellently well.”

Moses Rutahigwa, the Head Consumer Private and Business Banking, Standard Chartered Bank said; “We are proud to announce the launch of International Mutual Funds, an alternative investment vehicle that is affordable and offers a diverse way to put one’s money to work. We are in a strong position to help any client build a secure future for themselves and their families as we have a unique combination to offer: an open architecture platform which means we access insights and solutions from the best providers in the industry as well as strong investment advisory capabilities and strategic partnerships with insurers and asset managers.”

Lydia Nakamya General Manager, Affluent Banking and Wealth Management our clients will gain access to global investment, have an opportunity to diversify their portfolios by adding exposure to different markets, sectors, and currencies, access higher returns than what’s currently available locally as well as reduce their risk due to diversification of their portfolios. We welcome all potential clients to contact us so by professional Relationship Managers can talk through the product’s proposition and the rest of our investment opportunities, help them get their profiling done online to assess their risk-taking appetite then assist them with their investments.

Speaking on behalf of Capital Markets Authority, the Chief Executive Officer, Mr. Keith Kalyegira said; “As Capital Markets Authority our role is to protect investors’ interests and ensure the integrity and stability of the capital markets in Uganda. This includes setting and enforcing regulations related to the registration, operation, and reporting of mutual funds, as well as conducting inspections and investigations to ensure compliance. We are proud to have worked closely with the team at Standard Chartered Bank to support Ugandans with an inclusive investment option that is flexible, affordable and relatively conservative in terms of risk.”

He added: “Schemes like the one Standard Chartered are launching are highly regulated and CMA also has the power to take disciplinary action for any violations of regulations or for engaging in fraudulent or unethical practices. Additionally, the CMA may also provide guidance and education to mutual funds.”

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Museveni urges medical doctors to grasp prevention health strategies to save Ugandans from diseases

By
Simon Kabayo
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President Museveni

President Yoweri Kaguta Museveni on Saturday emphasized the need to grasp the prevention concept in the health sector to ensure that 75 percent of diseases are prevented in Uganda.

According to President Museveni, through public health, Medical Doctors can eliminate most of the sicknesses that affect citizens.

The President made the remarks while officiating at the luncheon meeting for a team of Medical Doctors and Engineers who were sponsored by State House to study at university.

“These are the facts because many of those illnesses are preventable so you as the new generation you should really get that and make it part of your DNA in terms of professional services so that you help your people when you get a chance to avoid these illnesses; diseases of ignorance such as malaria,” President Museveni said.

“Once you adopt this prevention method most of the diseases can be avoided for example, if you sensitize the communities where you will be deployed on how to use the latrines, sleeping under treated mosquito nets and using clean water.”

President Museveni also thanked the science team for utilizing the scholarship well and finishing their studies on time.

“These scholarships started after the war in Luweero and were meant to benefit the orphans,” he revealed.

Gen. Museveni further noted that under the State House scholarship, many students have been sponsored to study from primary, secondary up to university.

“Most of the beneficiaries would be the orphans from Luweero, however we later considered science students who performed well,” the President noted.

The Head of State also called on the scientists not to only concentrate on treating people but help the communities where they come from to develop and fight poverty by sensitizing them to embrace government programs, like the Parish Development Model and the four-acre model.

“Help your relatives to stop working for the stomach only.”

On the concern about deployment, President Museveni said they will all be recruited but it’s a matter of time and funds. He also welcomed the doctors’ idea of volunteering for one year before they are absorbed into the system as they wait for budget allocation to be fully recruited.

On medical working conditions, President Museveni promised to build more houses for doctors so that they live near their workplaces. He also promised to improve the state of hospitals by building well-equipped structures.

The President further promised to educate the children of medical doctors and other health workers who died of COVID-19 while saving lives during the pandemic period.

On the other hand, President Museveni encouraged scientists to record and report the corrupt District Service Commissioners who extorted money from them in exchange for jobs.

“Record whoever asks for money from you, we shall deal with them,” he assured.

Dr. Samuel Oledo Odongo, the president of Uganda Medical Association (UMA) thanked President Museveni for giving young scientists a future by sponsoring their education.

“You picked us from far away in our villages and sponsored our education, we thank you father,” Dr. Oledo said.

He also told the President that as doctors they are ready to serve the nation, reiterating that they are willing to volunteer for a full year before they are formally recruited.

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Patrick Kaddu set to sign for Gor Mahia

By
Our Reporter
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Patrick-Kaddu-celebrates-at-Namboole

Uganda Cranes forward Patrick Henry Kaddu is close to completing a move to Kenyan Premier league giants Gor Mahia from FUFA Big league side Kitara FC.

Kitara FC confirmed the development through their social media as they bid farewell to the striker.

“Its official, our player Patrick Kaddu will be flying out to complete negotiations with Gor Mahia on Tuesday. We wish him the best in his new pursuit,” reads a statement from Kitara FC.

Kaddu has been phenomenal since joining the Hoima-based side last September scoring 15 goals in 15 matches.

Once he completes the move, he will work with former Uganda Cranes coach Jonathan McKinstry who is the head coach at Gor Mahia.

Kaddu joined Kitara following the expiration of his contract at KCCA FC which he rejoined in January 2022.

The 27-year-old started his career at Maroons FC in 2011 before crossing to Kira Young in 2014. After a season at Kira Young, he returned to Maroons where he played for two seasons.

Kaddu has 21 caps for Uganda since making his debut in 2018 and is remembered for scoring the goal that took the Cranes to the 2019 Africa Cup of Nations against Cape Verde.

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Housing Finance Bank Launches Exciting Package For Salary Earners

By
Our Reporter
-

January is that time of the year when many draw plans for the year with various aspirations and goals. It is also the time when financial pressures out of the festive season kick in with needs like school fees, business, and personal demands among others. In a bid to support its customers during these tough times, Housing Finance Bank has rolled out a Salary Loan campaign dubbed “Make 2023 your year with the HFB Salary Loan” at its Head Office in Kololo, Wampewo Avenue. The campaign was officially launched by Michael K. Mugabi, the Bank’s Managing Director along with the Executive Director Mrs. Peace K. Ayebazibwe. 

Over the years, the Bank has championed the provision of products and services of immense, yet distinctive value at very affordable and competitive rates to enhance financial inclusion and economic growth. The “Make 2023 your year with the HFB Salary Loan” 90-day campaign allows customers to get unsecured Salary Loans of up to UGX 350M in just 48 Hours (2 days) with flexible repayment periods of up to 84 months! And that’s not all, the solution also takes up loan buyouts at zero fees.

“We are happy to have a solution for our salaried customers that exceeds market offerings.  A lot can be achieved with UGX 350 million, – homes can be built, businesses can be boosted, education advanced, cars acquired, and many other aspirations. As Housing Finance Bank, we are committed and continue to positively transform lives of our customers through value adding solutions such as this.’ Mr. Michael K. Mugabi, Managing Director Housing Finance Bank. “

The bank is also offering additional benefits such as travel insurance of up to 5 locations worldwide, hospital cash benefit, critical illness cover, and last expense benefit incase of death of the account holder or account holder’s spouse for the Pearl customer segment.

“The Salary Loan solution is open to both existing and new customers. All you need is your employment contract to get started. We encourage employed citizens to make use of this 90day campaign and meet their life goals with ease. Once an application is submitted, the loan will be advanced in 48hrs, which is only 2days.”  – Mrs. Peace K. Ayebazibwe, Housing Finance Bank Executive Director.

All those interested in the offering should reach out by visiting any of the Bank’s branches countrywide, through the 24/7 call center toll free number 0800211082, on WhatsApp 0771888755, via email on info@housingfinance.co.ug and it’s website www.housingfinance.co.ug.

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