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Opposition will not submit new list of missing supporters – Mpuuga

Former LoP Mpuuga

The Opposition will not submit a refresh list of its missing supporters unless there is full accountability of the names on the lists which have previously been presented before Parliament, the Leader of Opposition in Parliament (LOP), Mathias Mpuuga, has said.

Addressing christians at a fundraising ceremony for the expansion of St. Joseph’s Sub-Parish Church, Nyendo in Masaka City’s Nyendo-Mukungwe Division, Mpuuga downplayed government’s latest demand for a new list of the political activists that the Opposition claims to have been abducted by state operatives.  

“For the record, I will not submit another list because they already have so many other lists to which they have not offered accountability. I am not going to be performing rituals to which they make no response,” Mpuuga said.

Recently, the Deputy Speaker, Thomas Tayebwa, called for yet another meeting between the LOP and government over the alleged continued abductions and disappearances of the former’s supporters, specifically those that identify with the National Unity Platform (NUP) party.

The meeting scheduled for Tuesday, 06 December 2022, will be the second in as many months. The earlier meeting on 30 September 2022 was called after Mpuuga had in March 2021 tabled in the House a list of over 400 Opposition supporters who have been missing since the January 2021 general elections.

At the Nyendo event on Sunday, 04 December 2022, the LOP said that government, instead of asking for a new list ought to account for those on the previously submitted lists.

“Last year, I did submit a list of more than 200 people, but we have never gotten accountability of these persons. Over the last six months, I have made three submissions on the Floor of Parliament of missing persons and no accountability has ever been made. I do not intend to make [another] submission,” the Nyendo-Mukungwe MP said.

To Mpuuga, the duty now is on government to account for the people in legal detention and those who were picked by security operatives but are missing in the custodial records.

“Let them submit the number and names of people they have in legal custody so that we can know who and who is not there,” he added.

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CMI releases Sheikh Yahya Mwanje

Sheikh Yahya Mwanje

The deputy head of Jamatil Salafiya Tabliq Muslim sect, Sheikh Yahya Mwanje has been released. Sheikh Mwanje was released on police bond pending investigations.

The release followed the Muslim Parliamentary Caucus meeting which demanded his unconditional release. The MPs demanded that Sheikh Mwanje be brought to court, and also that their families, doctors and lawyers should be allowed to see them.

Sheikh Mwanje was last week abducted from Nakasero Mosque. The abductors picked him up from the entrance of the mosque and bundled him into the waiting Toyota Hiace commonly known as a drone.

He has been held at Chief of Military Intelligence (CMI) since November 28, 2022. In tandem, security operatives picked another Muslim cleric from Mbale, Mansa Musa. He is suspected to be detained in an unrevealed place in Kampala.

“We are deeply concerned about those arrests,” Bugiri Municipality MP Asuman Basalirwa said adding that, “the mode of an arrest does not befit the status of religious leaders. You would have expected the police or any security agency to summon those religious leaders.” 

He wondered why the religious leaders are picked without following the legal process and detained incommunicado.

 “That is illegal and unconstitutional. We protest the kind of treatment that our religious leaders are being subjected to. We are also concerned that up to now, Sheikh Yahya Mwanje has not been produced before courts of law,” he said.

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Uganda Development Bank wins Global Sustainable Finance Award

Uganda Development Bank (UDB) has been named Sustainability Leader of the Year 2022 at the Karlsruhe Sustainability Awards Ceremony that was held during the Global Sustainable Finance Conference which took place on 1 and 2 December 2022 in Germany.

Awarded by the International Council of Sustainability Standards and Certification Initiative (SSCI) for Value Driven Financial Institutions, the accolade is given to individuals and/or institutions that demonstrate commitment to creating value for all their stakeholders and protecting the environment.

“Uganda Development Bank continues to lead the process of promoting sustainability, not only in the country, but across Africa and in the wider world. It started by transforming its own bank to become a Sustainability Certified Financial Institution and has successfully demonstrated remarkable achievements in its corporate performance through delivering social, environmental, and economic value to Ugandan businesses and society,” said Arshad Rab, the Chairman of the International Council of Sustainability Standards and Certification Initiative and CEO of European Organization for Sustainable Development, during the Award ceremony.

“Today, UDB supports financial institutions from across the world through heading the I-LEAD Group that stands for Innovate, Learn and Develop, which is a part of the Sustainability Standards and Certification Initiative (SSCI), for complying with the rigorous sustainability standards. The Bank under the leadership of its Managing Director Ms. Patricia Ojangole also ensures that the web-based Sustainability Standards Implementation and Management System (S-SIMS) serves its purpose and enables the applicants of Sustainability Certification in seamlessly implementing the standards.”

Won for the second time consecutively, this recognition comes at a time when UDB is seeking Recertification under SSCI Version 2, after the successful implementation of the SSCI Version 1 where the Bank was awarded Level 5 Certification, the highest level in the certification process.

“As a forward-looking institution, we continue to challenge ourselves to be better every day. The task ahead of us, for sustainable industrialization of our country, is challenging. In this regard, UDB remains conscious about the sustainability of its operations and the related impacts on the society, the economy and the environment in which it operates. With the support of the International Council of Sustainability, our valued customers, shareholders, other stakeholders and the wider SSCI community, we will continue to achieve our ambitious goal of not only future proofing our institution, but the economy at large through our interventions,” Ms. Ojangole said.

“We thank our shareholder, the Government of Uganda who continue to support and guide UDB towards the achievement of our goals.”

UDB, through its institutional purpose to improve the quality of life of Ugandans, continues to advance socio-economic transformation in Uganda through the provision of appropriate financial and non-financial solutions.

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UBL releases environmental impact sustainability report

Andrew Kilonzo - UBL MD (center) hands a copy of the Sustainability Report to Eng. David Luyimbazi as Damon Ansell - Diageo Africa Corporate Relations Director looks on

Uganda Breweries Limited (UBL) has released its environmental impact Sustainability Report. The report, which is the second of its kind was released under the theme ‘Resilient, Impactful, Sustainable’.

The report highlights the impact of its sustainability initiatives under pillars including Preserving natural resources and making a positive contribution to the communities within which they operate; Promoting the positive and moderate consumption of alcohol and; Championing inclusion and diversity.

The report shows that the company completed Shs 37 billion biomass boiler, which will achieve a reduction in carbon emissions by approximately 90% and unlock a source of income for hundreds of suppliers of combustible materials like coffee husks, wood chips, etc.

According to the report, the company achieved a 77% success rate in ensuring that 50% of all the beneficiaries under UBL’s community programs are women.

The report shows that one of its production lines is managed by a team made up of 75% women and onboarded 11 persons with disabilities under our internship program.

The company Smashed the anti-underage drinking program and reached 48,690 students against a target of 17,500.

“Under the world-class educational platform, DRINKiQ.com to educate consumers on responsible drinking, achieved 3,263 site visits and module quiz completions, exceeding the target by more than 100%. Additionally, the brands leveraged their creativity and influence to combine brand promotion and responsible drinking messaging. They reached over 7.5 million consumers with messages of moderation, more than three times the target,” the report revealed.

Andrew Kilonzo , UBL’s Managing Director said, “The success of our business and the success of Uganda are joined at the hip. That is why we are very deliberate about sharing value and making a measurable impact in the communities in which we operate.”

UBL is implementing its it’s‘Society 2030: Spirit of Progress’ agenda – a 10-year environmental, Social, and Governance (ESG) action plan to help create a more inclusive and sustainable world through 25 ambitious targets aligned to the United Nations’ Sustainable Development Goals and the Government of Uganda’s Third National Development Plan’s program on Climate Change, Natural Resources, Environment, and Water Management.

The Deputy Executive Director of the Kampala Capital City Authority (KCCA), Engineer David Luyimabazi, who was the Chief Guest and received the report– hailed UBL for being conscious of its role in enhancing Uganda’s environmental and socio-economic development.

“Your actions and initiatives should serve as an example for the wider private sector to be mindful of the impact their operations have on the environment and similarly make sustainability a critical part of their business strategies,” he said.

The EABL Sustainability Report is released by all three subsidiaries under EABL (Uganda Breweries, Kenya Breweries and Serengeti Breweries) and is meant to highlight the accomplishments of each of the business units’ sustainability efforts while committing to expanding and deepening the impact of these initiatives.

Andrew Kilonzo, UBL MD, said, “We know that, as a business that seeks to succeed in the long term, we have to measure ourselves by more than financial targets, important though they are. We also give ourselves targets on the impact we are creating in Uganda.”

“We ensure that our business operations are sustainable, then also find opportunities for strategic philanthropy to support communities that are in need in Uganda. Further, we embrace collaboration to collectively address systemic issues,” he said.

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Notorious child kidnapper fatally wounded during arrest

Police Spokesperson Fred Enanga

A notorious child kidnapper, who was linked to four incidents of child kidnap for ransom, was fatally wounded, during a violent confrontation, with an arresting team from the Flying Squad Unit at Salaama – Munyonyo.

The kidnapper who was identified as Fred Mwanje, a 28 year old, was pronounced dead at the scene.

According to Police Spokesperson Fred Enanga, on November 19, 2022, at around 10am, the suspect went into the home of Bulega Abdu and Nakawungo Shamim, and knocked at the gate, which was responded to by Shamim, the victim’s mother. He inquired whether they had adult children, who were interested in professional football training. The mother, asked him to contact her husband, Bulega Abdu, and shared his contacts.

At around 3pm, the victim, 7 year old Najib Muyingo was kidnapped, when both parents were away, from their home in Kibiri “A” zone, Busabala ward, in Wakiso district. Later in the day, at around 5pm, the suspect, rang the victim’s father, on his contact number and demanded a ransom of Shs3 million, in exchange for the release of the victim and also for the reason as to why he kidnapped him. Amidst police investigations, the victim paid a ransom of Shs2 million, and the victim was handed over to the parents after medical examination.

After ten days on November 29, 2022, at around 5pm, the suspect kidnapped a one Ssegawa Quiram, a 6 year old primary pupil from their home at Makerere Kinoni Rubaga division, and demanded for a ransom of Shs2 million in exchange for their son’s release.

Enanga said the suspect kept changing his location from Kulekana, Entebbe, Namulanda, Kampala, Taxi park, Bweyogerere and Mabira.

“He was eventually tracked down to his home in Salaama- Munyonyo, where he was fatally wounded during a violent confrontation. A motorcycle registration number UEM 418Z, that was being used in the kidnaps was recovered and exhibited. The proceeds from the ransoms were being used to construct his house in Mukono.”

Enanga reiterated that as joint security agencies, they do not encourage, endorse or condone the payment of ransoms to kidnappers since it endangers other young children, by providing an incentive for child kidnappers and copycat criminals.

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Muslim Parliamentary Caucus demands release of sheikhs

Hon. Basalirwa (C) flanked by his colleagues addresses the media on the arrests

Members of Parliament under the Muslim Parliamentary Caucus have demanded for the unconditional release of Sheikh Yahya Mwanje.

Led by Bugiri Municipality MP Asuman Basalirwa, the legislators condemned the illegal arrest of Muslim leaders and their continued detention without trial.

During a press conference on Monday, 05 December 2022, the MPs also demanded that Muslim leaders should be brought to court, and also that their families, doctors and lawyers should be allowed to see them.

“Last week the country witnessed the illegal arrest of Sheikh Yahya Mwanje, one of the leaders of Nakasero Mosque and another Muslim leader from Mbale, Mansa Musa. We are deeply concerned about those arrests,” Basalirwa said adding that, ’the mode of arrest does not befit the status of religious leaders. You would have expected the police or any security agency to summon those religious leaders’. 

He wondered why the religious leaders are picked without following the legal process and detained incommunicado.

 “That is illegal and unconstitutional. We protest that kind of treatment that our religious leaders are being subjected to. We are also concerned that up to now, Sheikh Yahya Mwanje has not been produced before courts of law,” he said.

Mukono North  MP Abdallah Kiwanuka who also doubles as the Shadow Minister of Internal Affairs said that they are not against arresting any person but the law should be adhered to.

“Whether a person is a Muslim or not, the law should be followed while being arrested. Up to now, the country does not know the charges against these people,” said the Mukono North MP.

Abdallah Kiwanuka demanded that government explains the continued arrests of Muslim clerics under unclear circumstances.

Kiboga West MP, Abdul Mutumba also demanded that government immediately produces the arrested religious leaders before court.
“It is now more than a week since the arrests were made and these people have not been produced before court. Also, the Muslim leadership should wake up and get interested in this critical issue,” said Mutumba.

Mawokota South MP, Yusuf Nsibambi said that the humiliation of Muslim clerics should stop and demanded for their immediate release.

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5 Reasons Why TV is the best source of Entertainment

IPTV OTT_Platform

In this technological age, we have many options available to us when it comes to staying entertained, but they can’t compare to the good old-fashioned fun of watching TV. It is considered to be one of the most entertaining mediums for both youth and elders. There are several reasons why TV is the best source of entertainment around, and here we are discussing are few of them!

  • There is a show for everyone

TV is the best source of entertainment because there is something for everyone. From reality shows to sports, TV can offer viewers a range of options for amusement. Sports fans can follow their favorite teams and players through televised games. 

Online betting sports have even become popular with many viewers who like to place bets on their favorite teams. Whether you’re rooting for your team to win or trying to increase your winnings, watching sports on TV can be an exciting experience.

  • You can watch TV anywhere

One of the great things about TV is that you can watch it just about anywhere. Whether you are at home, in a hotel, or even in an airport waiting for a lounge, there is likely to be a TV available for you to enjoy. 

In addition to traditional TV channels, many people also now have access to streaming services, allowing them to watch whatever they want, whenever they want. This means that when it comes to entertainment, you no longer need to be tied to the couch watching your favorite shows.

  • TV is a great way to bond with friends and family

TV is one of the best sources of entertainment, especially when it comes to bonding with friends and family. Watching a show or movie together can bring everyone closer, while also allowing each person to enjoy their preferences. 

Combine with friends and family, one can enjoy a lot while watching TV. Online betting sports have hot it’s through such types of entertainment channels. For people who bet online, TV is considered an important piece of equipment for them. As they were all the sports live on their television sets and they play online betting sports.

  • TV is educational

TV is not only a great source of entertainment, but it is also educational. Watching the news can help you stay informed about current events around the world, while documentaries can teach you about interesting topics. 

Additionally, many international programs and sports broadcasts provide analysis and commentary that can help you understand better. With the rise of online betting sports, watching television has become even more important for gaining insights on teams and players to make an informed wager. With TV, you can get informed and stay entertained all at once. Watching Television gives you a detailed insight into the game, players, and different types of sports.

  • TV is entertaining

In today’s world, TV allows us to stay connected with the world and provides us with a variety of shows, movies, sports, news, and much more. One of the best things about TV is its ability to provide us with great entertainment through sports.

In today’s busy world, we all need some free time in which we need entertainment. TV provides us with the best solution in form of live sports events. You can watch your favorite sport live on your television.

Online betting sports allow viewers to place bets on different teams and players while they watch their favorite games on TV. This can make watching sports more exciting and engaging for viewers. 

TV also offers a variety of other entertaining content such as shows, movies, news, and documentaries. This allows viewers to stay entertained while getting informed about current events and topics. Plus, with the advancement in technology, viewers can now access their favorite shows and movies anytime they want via streaming services like Netflix, Hulu, and Amazon Prime Video.

Conclusion

Overall, TV is an amazing source of entertainment and it continues to be one of the most popular sources of entertainment around the world. With online betting sports, viewers can enjoy the excitement of placing bets on their favorite teams and players while watching their favorite shows and movies. Whether you’re looking for a great show to watch or just want to stay informed about current events, TV has it all. TV is one of the major pieces of equipment while betting online.

Bet online, and have fun!!!!

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How Does The Youtube Algorithm Work In 2023? The Complete Guide.

Youtube has evolved in significant ways ever since its launch. What began as an entertaining platform is now one of the most effective marketing tools. 

I remember searching for the scariest, funniest, and ghost videos on Youtube as a kid. Growing up, I was always curious about the latest Nike Jordans or the new Sephora collection. It is the range of change Youtube has witnessed. 

It explains the significance of understanding the Youtube algorithm. When you get how YouTube targets the audience, you can devise your Youtube marketing strategy accordingly.

People have begun understanding the Youtube SEO basics and are working towards perfecting their knowledge. It is why many of them buy Youtube subscribers and look for the best sites to buy Youtube subscribers to help them gain more traffic and increase engagement. 

This article will explain the basics of the Youtube algorithm IN 2023. We have simplified the concept to make the best of it for our readers. 

Things to Consider in the Youtube Algorithm 2023

1) User’s Watch History

2) Durations of Time and Interest

3) Importance and Commitment

We will elaborate on each point and explain how you can leverage each feature to create the perfect marketing strategy. 

Homepage

Whether you open the app or the website, you first see the homepage listing several videos. You will notice that they are identical to the ones you’ve recently watched or broadcast on the same channel. Apart from this, your subscriptions also show up here. 

It is the most lucrative area for all social media marketers. Any user is most likely to click on the videos displayed on the homepage compared to those found after searching.

The homepage lists the videos as per the context. If there is a trending topic in your region related to movies, politics, viral videos, etc., there is a high chance of it showing up on the homepage.

Videos liked by the users with a high click-through rate and a high watch time also get listed on the homepage. 

This information is necessary to understand your target audience, create content and plan your strategy such that it ends up on their homepage. 

For this, the most vital step is to be consistent. The more actively you post, the better your chances are to end up on the home screen of your target audience.

Secondly, create content from the viewer’s point of view. Add elements and continue the way your audience would enjoy it. To understand this, you can analyze the popular channels in your niche. Examine what distinguishes them from others and why viewers are following their lead. It is always a great idea to learn.

As homepage suggestions are marked by the watch time, the number of likes, etc., you can buy YouTube subscribers, views, etc. It will help you in the process. Do not, however, rely solely on these strategies. Even the best sites to get YouTube subscribers will only give you a temporary and limited impact boost.

Suggestions Videos

When you listen to any of the latest music tracks or watch the tutorial to upcycle that old pair of jeans, don’t you see a list of suggested videos below or beside your main video?

If you did not understand how the woman turned the jeans into a tote bag, you might watch one of the suggested videos to understand better. So we can see how it fetched the other video views and engagement.

As a result, your videos must show-up in the suggested videos list. 

All the videos listed in this category are either the ones you have frequently watched from the same niche, related videos of the same or similar topic, or your watch history.

As a Youtube marketer, you can leverage this information using Youtube analytics. You can observe and understand what related topics your target audience is enjoying. Include those topics in your content plan to increase viewership and engagement. 

You can have multiple parts in addition to your best-performing videos and rely on curiosity.

Increase subscribers with a call to action at the end of each video. You can also add links.

Search Suggestions

Going back to the jeans upcycling example, when you searched “how to upcycle old jeans,” you did not get a single video, but there was a complete list.

The YouTube SEO determines the order in which these videos get displayed. Youtube search results are the area where SEO is most vividly visible.

The best optimized videos have the necessary keywords in their title and description along with the appropriate hashtags.

This posting is also affected by the performance of the video. Performance refers to the watch time, click-through rate, and the overall excitement generated by the video.

As a result, the key is to improve your keyword research to add the best keywords to our titles, descriptions, and hashtags. 

Everyone has realized the massive potential of YouTube. As a result, there are multiple tools to help you with your Youtube marketing. From the best sites to buy Youtube subscribers to Youtube tools for the right keywords and hashtags.

Conclusion

If you are annoyed about the constantly changing algorithms and updates, you must understand that every social media platform is also a business. To thrive, the owner must keep changing with time and trends. If they do not do this, their business will have no customers and get shut down.

As a result, social media platforms introduce changes to incorporate the trends and technologies.

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Retail Forex Traders In Uganda Should Avoid Leveraged Trading Via Unregulated Foreign Brokers

Retail forex regulation can be defined as the stated laws which all operators dealing in Forex trading must strictly adhere to. The laws are enforced by a statutory regulatory agency established by an Act of Parliament.

Retail online forex trading is not regulated in Uganda so most of the regulations we will discuss here will be what applies overseas.

An absence of forex regulation in Uganda makes confirming the regulatory status of foreign forex brokers a challenge. It is important for traders to understand why regulation matters, and what rules apply in major forex jurisdictions.

1: The Role Of Capital Market Regulators

To License Market Operators

Issuance of a license is done in line with the laws of each jurisdiction. The law defines the basic requirements needed to register in every jurisdiction. In Europe the MIFID I was updated to MIFID II regulation to unify regulatory processes across Europe, and encourage transparency. In jurisdictions like UK it could take between 6 to 12 months to get your license approved. However, some common requirements that cut across most regions are:

  • Application Fee
  • Willing, ready, and organized check
  • Minimum Capital Requirements (In Europe the law stipulates 7.5M Euros for Central counter parties)

Regulators will always publish the names of licensed brokers, banned persons, revoked licenses, and license requests being reviewed, on their websites so the public can check.

Forex traders in Uganda have the option of trading via those brokers registered & regulated in Kenya, which is a neighbouring country. There are 6 non-dealing CMA licensed forex brokers in Kenya operating as intermediary, meaning conflict of interest is reduced. These brokers offer multiple trading platforms, and accept payments and withdrawals from Safaricom’s M-Pesa.

Most forex brokers have dual or multiple licenses, and some combine FCA (UK) licenses with ASIC (Australia) etc. This is a welcomed development, as there is no such thing as over-regulation.

You can view the license information of a broker at the bottom of their webpage, and then verify from the relevant regulators wherever in the world, for safety of your funds.

To Sanction Erring Operators

If your forex broker is licensed by a regulatory body, it can still undergo punishment from the same regulator if it goes against the stated rules it signed up to follow. In fact, the license can even be withdrawn.

For instance, the Australian Securities and Investments Commission (ASIC) in 2021 banned the director of  forex capital trading (a forex brokerage firm) for ten years after investigations revealed he  breached ASIC regulations: by pressuring account managers to recommend unsuitable products for clients, and offer incentives to clients to make them take risky decisions.

In 2020, the Financial Sector Conduct Authority (FSCA) of South Africa instituted a court suit calling for the liquidation of a forex broker called JP Markets over alleged acts of misconduct.

According to the sanctions & measures imposed under MIFID II report published by the European Securities & Markets Authority (ESMA), several market operators were sanctioned across Europe. The highest sanction of 469,106 Euros, was imposed on market operators by the regulator in the Czech Republic, for flouting regulatory rules.

To Maintain an Investor Protection Fund

The investor protection fund exists to protect investors so that if a licensed brokerage firm goes bankrupt or engages in any act that affects your funds, you may be entitled to compensation.

For instance, the Financial Services Compensation Scheme (FSCS) of the United Kingdom has made provision for you to make compensation claims against a company that misused your funds, or gave you wrong advice.  Clients that fall victim to the misdeeds of financial firms may receive compensation of up to 85,000 pounds, depending on the date of the failure of such a firm.

To Ensure Segregation of Client Funds

A broker under regulation should have a policy known as “Segregation of Accounts,” which stipulates that your trading accounts are separated from the operational accounts of your forex broker. This is to prevent abuse of client funds, and leave clear audit trails.

With the policy of segregation of accounts in place, the broker is prohibited from making use of your funds inappropriately, or using them to cover any losses.

In the United Kingdom, the rules of segregation are spelt out under the Financial Conduct Authority’s Client Assets Sourcebook (CASS) 5.5.

The policy is very vital, especially as fraudulent forex brokers keep on increasing. It would boost your confidence while trading forex, because it would make it easier for your funds to be recovered if the broker goes insolvent.

Establishing and Enforcing Leverage Restrictions

Leverage is a tool in forex trading that gives you the opportunity to engage in a large trading position with a small amount of deposit (margin). It is a loan given to you by your broker to make the market more accessible, and it is expressed in ratios.

For instance, if a broker offers you 200:1 leverage, it means you are using $1 to control every $200. In that situation, you can use a $20 deposit to control a trade worth $4,000.

However when using high leverage you are on shaky ground as a small change in currency exchange rates, can result in your broker asking you to urgently deposit more funds failing which your trade is closed and you lose all your money.

Higher leverage means both higher profits and higher losses. We can easily define leverage as a sharp, double-edged sword.

Some regulators set a limit on the leverage brokers can offer. For instance, the ESMA has put leverage restrictions on CFDs in place that limits leverage brokers can offer clients trading CFDs, to:

  • 30:1 for major currency pairs,
  • 20:1 for non-major currency pairs
  • 10:1 for commodities other than Gold
  • 5:1 for Equity
  • 2:1 for crypto currencies

In Africa, the Capital Markets Authority in Kenya has also set leverage at 1:400 max.

Implement and enforce a margin close out rule

A Margin Level indicates the healthy status of your margin trading account. It tells you the amount of margin available for you to open further positions.

If your margin level falls to a certain level, your broker will close you out. He automatically closes some of your open positions, because you don’t have enough equity left to cope with further losses while trading.

Margin close out rule for brokers in the EU is set by the ESMA at 50% of minimum required margin, while Australia also sets it at 50%.

For example

You have $150 equity in your trading account and select a leverage of 1:1000 so as to open an order for EUR/USD valued at $100,000

You must contribute initial margin while your broker lends you the rest.

Your initial margin = 1/1000 x $100,000 = $100 (which is now your used margin)

Margin {close out} level is seen as = (equity/used margin) x 100 = (150/100) x 100 = 150%

If your trades end up in losses, it gets to a point margin level becomes 50% and your positions will be closed.

The importance of enforcing margin close out rule is to stop your account from going into negative. This is because your broker will have to pay the money you owe, and this can send them into bankruptcy, or make them use other clients’ funds illegally to cover the short fall.

To Prevent Unnecessary Trading Gamification

In order to avoid unhealthy competition among forex brokers, regulators usually monitor the way forex brokers introduce promos, bonuses, and awards for retail traders.

The regulators ensure that the process of promos and all forms of gamification of trading are not abused by brokers.

In order to strengthen the protection of investors, ESMA has advised the European Commission to curb all forms of enticements and other gamification of trading.

ESMA’s Chief, Verena Ross, said ‘Gamification techniques in trading apps and personal recommendations on social media may cause retail investors to engage in trading behaviour without understanding the risks involved,’

In the USA zero commission broker – Robinhood was accused of gamifying trading, and in the end they had to scrap their’ ‘virtual confetti’ animation that popped up  each time a new user made a trade.

2: The risks of Trading with an Unregulated Broker

If you register with an unregulated broker, you will not be able to receive financial compensation if your broker goes bankrupt or out of business.

Your trading funds are not safe because the unregulated broker could engage in unfair or fraudulent practices, taking advantage of the fact that he is not under any regulation.

3: Some Notable Regulatory Authorities

  • Capital Market Authority (CMA) – Kenya
  • The Financial Sector Conduct Authority (FSCA) – South Africa
  • The Financial Conduct Authority (FCA) – United Kingdom
  • The European Securities and Markets Authority (ESMA) – EU
  • The Securities and Exchange Commission (SEC)- USA
  • Commodity Futures Trading Commission (CFTC)- USA
  • The Australian Securities and Investments Commission (ASIC) – Australia

Key Takeaway

The African continent is far behind when it comes to regulating forex trading, as only Kenya & South Africa have regulations in place. Traders in Uganda could use brokers certified by regulators in Kenya and South Africa, or use foreign brokers from UK, Australia or Europe.

However, attention must be paid to their license status to be sure they are authorized or their licenses have not been revoked.

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Police issues out security guidelines ahead of Kyambogo graduation

Prof Eli Katunguka, Vice Chancellor Kyambogo University. ( Photo by Ronald Shabomwe)

Police of Uganda have issued out security directives and guidelines to guide the graduands, parents and all the guests that are set to grace the 18th Graduation Ceremony of Kyambogo University.

Anatoli Katungwensi, the Assistant Commissioner of Police, has asked all the students and their parents intending to come for the graduation ceremony to be careful and cautious about their movements while they are coming for the graduation and going back home.

Katungwensi, who is also the Commander of Kampala Metropolitan East, directed that while travelling to Kampala, students should move hand in hand with their guardians/parents and make sure that they are safe.

“You find a parent moving alone and a student moving alone. This sometimes leads to accidents and people getting lost. Therefore, students make sure that their parents are safe, because most of them come from villages, they are not used to the urban setting maneuvers”. He directed.

He said that they are guidelines provided by the University, and all indicated in the invitation cards must be adhered to.

“You must obey the set guidelines as you are attending all the graduation activities” As you plan to come, know that heavy bags, electronic gadgets like cameras and laptops, metallic materials and equipment etc., are not allowed within the graduation premises.” ACP Katungwensi said.

In the presence of over 12 senior Police Officers, ACP said that they have come in as police to ensure that the graduation ceremony goes on successfully as planned.

According to him, all the gates of the university will be open for the entry, apart from the Eastern gate, which will be only open for the exit. And the rest of the gates will be open for exit after the graduation ceremony.

He further urged parents to use their graduation stickers on their vehicles so that they can be recognized and be helped in case of any issues that need any attention. Adding that this is a National ceremony, it will be known by the entire Ugandans.

Each graduand is only allowed to invite two guests to accompany them. No more people shall be accepted.

Professor Eli Katunguka, the University Vice Chancellor had remarked that the campus will be closed for other university activities for all these three days.

“During the three days of the 18th Graduation ceremony, starting from Wednesday 7th to Friday 9th, there will not be any lectures taking place at Kyambogo.

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