Stanbic Bank
Stanbic Bank
18.3 C
Kampala
Stanbic Bank
Stanbic Bank
Home Blog Page 491

Hearing of Ssegirinya, Ssewanyana’s bail application set for February

By
Our Reporter
-
MPs Ssegirinya and Ssewanyana

The International Crimes Division of the High Court has set 20th February 2023 as the date for the hearing of Kawempe North MP Muhammad Ssegirinya and his Makindye West legislator Allan Ssewanyana’s bail application.

The legislators through their lawyers led by the Lord Mayor Erias Lukwago and Samuel Muyizzi petitioned court challenging their continuous detention in Kitalya min maximum prison.

They contended that they have been on remand for over six months without trial and therefore they should be released on bail. Citing medical complications, the two said that they were mishandled before and during arrest and they want to access thorough treatment.

The two MPs and four other suspects who have been on remand for over six months are accused of terrorism contrary to sections 7 (1) and (2) (d) and (d) of the Anti-Terrorism Act 2002 in count one, aiding and abetting terrorism contrary to section 8 of the Anti-Terrorism Act 2002 in count two, murder contrary to sections 188 and 189 of the Penal code Act in Counts three, four, five and attempted murder contrary to section 204 (a) of the Penal code Act.

Prosecution states that the two legislators together with other suspects -some on remand and others still at large on August 2, 2021 allegedly killed Joseph Bwanika, a resident of Kisekka Village in Kisekka Sub County in Lwengo District.

It is further alleged that on August 23 at Ssettaala Village in Masaka City, the MPs and their co-accused persons killed Francis Mugerwa Kiiza aka Nswa, Sulaiman Kakooza and Tadeo Kiyimba .

The MPs are also accused of attempting to kill Ronald Ssebyoto, a resident of the same area. They are also accused of financing the killings in the Greater Masaka region.

The story will be updated 

Stories Continues after ad

Medics call for resignation of Dr. Oledo over kneeling before Museveni

By
Simon Kabayo
-

The Uganda Medical Association (UMA) has called for the censure of their president, Dr. Samuel Odong Oledo, for leading a group of medical practitioners to kneel before President Museveni and appealing to him to contest again in 2026.

In a statement sent to the UMA executive members, it seeks for the possibility of censuring Dr. Oledo with the association, which brings more than 7,000 Medical Doctors together, disassociating itself from their president’s actions.

“Uganda Medical Association National Executive Committee (UMA NEC) had two separate meetings about the incident in which the U.M.A President, was recorded in a clip making several statements at the NRM Youth Symposium at Kololo, alongside some medical students and nurses; persons who do not represent. U.M.A NEC or U.M.A at that meeting,” UMA said in a statement signed by Vice President Dr. Edith Nakku-Jolaba and Dr. Herbert Luswata, the Secretary General.

“The UMA NEC agreed and would like to state that the Uganda Medical Association is non-partisan and therefore does not participate in political activities of a partisan nature. The U.M.A respects, honours and is committed to service to its members and to the public as an association of professionals promulgated under the laws of the Government of Uganda,” they added.

UMA said Dr Oledo attended the particular meeting in his personal capacity but not as UMA and his communications at that meeting were not representing the official position(s) of UMA.

“Uganda Medical Association dissociates itself from any partisan political actions or acts, and is constitutionally required to do so. UMA is committed to remain neutral to and to serve all Ugandan doctors and persons from the political dispensations of, and in Uganda and globally. 4. UMA NEC remains committed to the mandate given to it by all its members and requests the Medical Fraternity and the public whom U.M.A serves, to keep calm as our internal systems handle this matter with the utmost care and the trust that the Medical doctors and the people we serve have given us,” they added.

Stories Continues after ad

Shilling opens the week with strong footing

By
Our Reporter
-
Uganda shilling notes

The shilling opened the week on a relatively strong footing at the 3735 / 3745 levels and has maintained trading within the 3730 – 3750 trading range throughout the week with continued healthy flows from NGOs, remittance flows that comfortably matched the demand pockets that were seen during the week.

As businesses start to slowly slow down and head into the festivities, the Market still anticipates healthy flows that are likely to keep the unit within the 3700-3780 trading range in the short term until real demand picks up again after the festivities.

Money Markets were fairly liquid during the week with overnight yields trading within the 9.50% – 11.50%. Bank of Uganda held a Shs550 billion 5-year and 20-year Treasury Bond auction on Wednesday and yields cleared at averages of 16.250% and 17.000%  respectively. Bank of Uganda is scheduled to hold a Treasury Bill auction on Wednesday 7th December 2022.

Continued demand for dollars kept the Kenya shilling weak trading within the 122.00-126.00. The Central Bank did not intervene on the sell side but continues to urge market players to support the Oil sector. The Kenya shilling is still likely to remain weak within the 122.00 – 126.00 trading levels. 

The dollar was marginally weak on Thursday affected by a couple of economic releases like the October consumer spending inflation that was at 0.8% and jobless claims data printed at 225k from an expectation of 235k. These further continue to tally with the Federal Reserve’s anticipated slow pace of rate hikes in the coming months.

The Euro was strong on Thursday riding on a relatively weak dollar touching highs of $1.0533 (Shs 3917) and closing the day at $1.0522 (Shs 3913).

The Pound followed suit and also strengthened to trade above $1.2300 (Shs 4574) and later closed the day at $1.2253 (Shs 4556).

Crude oil prices continued to trade below $90 a barrel during the week as the Market continues to hope for the easing of Covid lockdown measures in China that will help bolster demand in the coming months. Brent Crude traded at $86.90 (Shs 323173) a barrel and West Texas Intermediate at $81.03 (Shs 301343) a barrel.

Gold traded at $1802 (6.7million) an ounce.

Stories Continues after ad

CHRISTMAS: Munyonyo Commonwealth Resort offers best rates

By
Our Reporter
-

Speke Resort and Munyonyo Commonwealth Hotel have unveiled amazing offers for their clients and new visitors who will celebrate this year’s festive season with one of the best accommodation services in the country.

The special festive rate offers are valid from December 12th to 23rd, 2022 and from December 26th to January 8, 2023.

From 12th to 23rd December and from 26th December to 8th January 2023, their single deluxe rooms will be charged at $139 and the double deluxe will be at $188. The one bedroom studio room that takes up to 2 people stands at $225, the superior room and the executive room are at $250 each.

The one bedroom suite will be charged at $330 whereas the executive suite is charged at $436. The presidential cottage and presidential suites which take up 4 people each is charged at $498 and $684 respectively.

On 24th December, and Christmas day, the single deluxe room will be charge at $176, the double deluxe will be charged at $262, the one bedroom suite will be charged at $299. Both the superior room and the executive room will be charged at $324. The executive room, executive suite, presidential cottage and presidential suite will be charged at $324, $510, $647, $832 respectively.

An extra person is provided with a mattress on full board basis for US$105 per night on 24th and 25th December while its US$68 per night from 12th to 23rd December and from 26th to 8th January 2023.

All the rates are inclusive of full board- breakfast, lunch, dinner, swimming, steam and sauna as well as 30 minutes canoe ride and 10 minutes pony rides for kids.

A beautiful and luxurious resort seated on the shores of Lake Victoria, it is part of Ruparelia Group of Companies which is owned by businessman Sudhir Ruparelia.

There will also be Christmas offers at the resort from 24th to 25th December 2022.

Stories Continues after ad

Uganda: AfDB commits $301 million to renovate Kampala-Malaba railway line

By
Our Reporter
-
Railway line

The African Development Bank [AfDB] Group is providing  $301 million to overhaul  the Kampala-Malaba Meter Gauge Railway (MGR) in Uganda. The railway line is part of the East African Community’s Northern Corridor linking the capital, Kampala, to Kenya’s coastal city of Mombasa.

The East African Community Railway Rehabilitation Support Project will bolster rail services and lower transportation costs in a region endowed with agricultural land, minerals and petroleum production and manufacturing.

The financing approved Wednesday by the Group’s Board of Directors consists of loans and grants from the Africa Development Bank and its concessional lending window, the African Development Fund.

The works entail the immediate rehabilitation of 265 km of MGR tracks between Malaba and Mukono, including the line to Jinja Pier and Port Bell on Lake Victoria.  

The project incorporates training and skills development for the railway workforce. It also will integrate nature-based solutions, including tree planting, to enhance the climate resilience of the tracks.

During the Board approval, African Development Bank Group President Akinwumi Adesina said, “railway lines are critical to opening up the heartland of Africa, where there is immense agricultural and economic potential.” He said rail tracks would also be instrumental in linking rural-based Special Agricultural Processing Zones, which the African Development Bank is promoting, to markets and other vital logistics hubs. “Railway lines should not simply connect ports to mines,” Adesina said. He added that it is heartening to see African governments investing in rail transport.  The project was backed by  Uganda’s cabinet and parliament.   

The Kampala-Malaba MGR is part of the multi-modal Northern Corridor route, which includes road transport from Mombasa in Kenya to landlocked Uganda and neighboring countries, including Rwanda, Burundi, South Sudan and Eastern DR Congo. The corridor also has maritime links with Lake Victoria’s inland waterways.  

Rail is viewed as a safer and more affordable mode of transport than road, but currently, more than 90% of the traffic along the northern corridor is carried by road, with a mere 7% moving by rail because of poor infrastructure. As a result, transport costs along the corridor are comparatively high.

The project is expected to directly benefit nearly 1.2 million people, about 40% of them women.  

The project is aligned with Uganda’s Vision 2040 National strategy as well as the East African Community’s Vision 2050, which aims to deepen trade and transform East Africa into a globally competitive upper-middle-income region..  The East African Community Railway Rehabilitation Support Project also advances the African Union’s Agenda 2063 and three of the African Development Bank’s High 5 operational priorities:  Integrate Africa, Industrialize Africa and Improve the Quality of Life for the People of Africa.

Stories Continues after ad

Ruparelia Foundation wins Conservation award in tourism

By
Our Reporter
-

Ruparelia Foundation has been awarded the Conservation Education Award at the Uganda Wildlife Conservation Education Centre (UWEC)’s 70th Anniversary Gala Dinner which was held at Speke Resort Munyonyo on Friday.

The Foundation which is the philanthropic arm of the Ruparelia Group, a conglomerate owned by tycoon Sudhir Ruparelia, was recognized for its great contribution towards UWEC.

Ruparelia family members are renown nature lovers and through their charity works have contributed to the growth of the tourism and wildlife sector in Uganda.

For instance in December 2020, the newest baby rhinoceros at Ziwa Rhino Sanctuary in Nakasongola district was named Rae Ruparelia. The name was decided by Rajiv Ruparelia, the Managing Director Ruparelia Group together with his wife Rae Naiya as one of the conservation strategy during the naming ceremony at Ziwa Rhino Sanctuary.

The Ruparelia Foundation was founded in 2012 by Sudhir & Mrs. Jyotsna Ruparelia and runs its programs under the catchphrase theme: “Enriching Lives Together”.

For the past years, Ruparelia Foundation has worked together with several stakeholders to champion positive change in different communities across the country to improve livelihoods in Uganda. To date, more than 600 charitable causes have been funded by the charity.

The focus areas of the foundation include health care, education, sports, wildlife and environment conservation, disaster relief, startup and general welfare.

Ruparelia Foundation strives to create a positive and transformative change in the community through making a real difference in the course of the present-day but also have a sustainable plan for every initiative carried out.

Stories Continues after ad

EU commits to support Uganda’s tourism sector

By
Our Reporter
-
European Union Head of Delegation to Uganda, H.E Ambassador Jan Sadek

The European Union has affirmed its commitment to enhancing cooperation with Uganda in supporting the country’s tourism sector. At the occasion of the 2022 Ekkula Tourism Awards, the European Union Head of Delegation to Uganda, H.E Ambassador Jan Sadek reiterated EU commitment to support a sector that plays a key role in generating revenue, jobs and economic growth for Uganda.

Ambassador Sadek notes that while the tourism sector is one of the leading foreign exchange earners for Uganda’s economy and plays an important role in the livelihoods of many ordinary citizens, the negative shocks and impact of the Covid-19 pandemic were still present, and require collective action.

“Tourism sector revenues were greatly affected by the COVID-19 pandemic, along with travel and lockdown restrictions that followed. The path to recovery is long and arduous. On this journey, Uganda can still count on the support of the European Union. We are grateful for the work that the Government of Uganda is doing to enhance our partnerships,” Ambassador Sadek said.

To support the recovery of the tourism sector, Ambassador Sadek said that the EU in partnership with Uganda Development Bank, at the end of 2020 launched a recovery fund of 16 million Euros (EU- EUR 6 million and UDB- EUR 10 million) to support businesses in the tourism sector in form of soft loans combined with grants.

“This Facility is intended to give operators access to working capital to fast track recovery post Covid-19, and support initiatives to become more environmentally friendly. We are also developing programmes that support biodiversity, majorly looking at the protected areas, climate change, and support to tourism host communities,” he said. 

Other European Union initiatives to support the sector include the Green Tourism Project whose aim is to boost the transformation of Uganda towards an inclusive green economy; the training of tourism entrepreneurs in partnership with the Agha Khan Foundation; the establishment of the Uganda Railway Museum in Jinja; the first of its kind in East Africa; and the Handicraft and Souvenir Development Project among others.

“A part from these EU initiatives, I would like to acknowledge the important contributions that some EU Member States are also doing to the tourism sector in Uganda like the Belgium, Germany, Hungary, Italy, Ireland, and the Netherlands, in sectors like skilling and training, product development, marketing and promotion”

“We, The EU and its Member States are dedicated to supporting the tourism sector in Uganda to ensure many more people from all over the world come and visit this beautiful and unique country,” Ambassador Sadek said.

Organised by Africa Tourism and Environment Initiatives (ATEI) and supported by the Ministry of Tourism, the Ekkula Pearl of Africa Tourism awards were held under the theme “Rethinking Tourism and Promotion of Green Initiatives.” Rt. Hon. Prime Minister Robinah Nabbanja officiated at the event as Chief Guest.

The Awards recognise stakeholders in the tourism industry for their selfless service and contribution towards making Uganda a Global Travel destination. The event is a private sector-driven tourism initiative passionate about promoting tourism through training and motivating key stakeholders in the tourism industry.

Stories Continues after ad

Tayebwa, South Sudan VP close EAC games

By
Our Reporter
-

The East African Community Inter-Parliamentary Games have come to a close in Juba, South Sudan, with Deputy Speaker of Parliament, Thomas Tayebwa, joining South Sudan’s, Vice President, Dr James Wani Igga, and other regional dignitaries for the closing ceremony.

Tayebwa hailed the games as a panacea to deepening the East African Community integration, and that allowing South Sudan to host the competition was a mark of confidence in the country’s capabilities. 

“Once we go back home, let each of us move a motion to congratulate South Sudan for hosting the games, because they defied the biases and prejudices that the media has labeled on South Sudan.  I congratulate South Sudan…this successful event is a vote of confidence in the new nation and a vindication of our Speakers who chose South Sudan to host the games,” he said at the ceremony held at Freedom Hall, Juba on 1 December 2022. 

Tayebwa emphasized the centrality of the games in ensuring a faster, more sustainable regional integration. 

“Particularly through sports…it is worth noting that the games are one of the mechanisms for strengthening relationships and integration among partner states,” he said.

Hailing the competition as historic, Vice President Wani, said the games are a sure way to strengthen integration. 

“This historic sports were indeed very valuable and some people even compared it to the Olympics; these games have been enjoyable and remarkable. This goes a long way towards uniting the people. These games will contribute in cementing peace and unity not only in our region but the whole EAC,” he said.

Host Speaker, Mr. Jema Nunu Kumba, hailed the Speakers’ Bureau, the East African Community forum responsible for the games, for allowing the newest African nation to host the games. 

“Today marks a significant milestone as MPs from EAC congregate on this auspicious occasion of the award night of the EAC games; we are truly one people with one destiny. I thank the Speakers Bureau for trusting the SSD with hosting this event despite the negative narrative against South Sudan in the media,” she said. 

She added: “Integration is progressive; we continue to build on the gains we have achieved so far; we should exploit the opportunity offered to us by sports.”

Uganda’s performance
Although the actual awards were deferred due to ongoing tallies and compilations, Uganda got the better of the games, winning all but one game in football  and basketball. 

In athletics, the team is expected to be declared the best overall, after running the show at the Buluk Stadium in South Sudan, with multiple gold and silver medals from the various competitive categories. 

In golf, Deputy Speaker, Thomas Tayebwa, had an impressive showing in Nairobi, Kenya, giving Uganda a comfortable position in the final performances. 

In darts, NUP, Nakawa East MP Ronald Balimwezo and his PWD counterpart Mr Mpindi Bumali (Ind.) made their rivals rue their participation in the competition, where the two reigned supreme. 

Besides losing some bouts in volleyball to Kenya, the team still maintained its dominance in Juba, where the raging temperature didn’t derail their ability to emerge victorious in the competition. 

Stories Continues after ad

Museveni directs Gen. Salim Saleh to fight against gunmen attacks on security forces

By
Simon Kabayo
-
Gen Salim Saleh

President Yoweri Kaguta Museveni, the Commander in Chief of Uganda Peoples Defense Forces (UPDF) has directed his special senior presidential advisor General Salim Saleh to supervise the fight against gunmen who are attacking security installations and forces.

Eagle Online can reliably report that Museveni was briefed by his confident intelligence team that security agencies have failed to defeat the armed men who attack police stations and military barracks.

Internal Affairs State Minister Gen. David Muhoozi briefed parliament that 22 suspects including UPDF soldiers and two police officers were charged before the court martial on offences related to the recent attacks on police stations and military barracks. The minister said that within a period of 12 months, 13 attacks have been reported, 15 guns were stolen and 6 of these have not yet been recovered.

“According to available intelligence, the motives for these actions are acquisition of arms for subversive activities, as well as for other criminal ends other than subversion,” the minister said.

However, the minister explained that some of the attacks were as a result of laxity in the security forces and sources have said that it is this laxity that has forced President Museveni to bring back Gen. Saleh after establishing that his security forces were carrying out uncoordinated operations against the said gunmen.

Sources added that the big man was very bitter with some security bosses for giving uncoordinated statements; he gave an example of the statement issued by police identifying the gunmen as rebels which the army rubbished and insisted that the attackers are criminal gangs.

Sources said that Museveni directed all security bosses that before an operation is carried out, Gen. Saleh has to be informed and if it is an emergency, he has to be briefed not beyond five hours after the operation.

“You know these gangs have started using tactics which President Museveni’s NRA rebels used especially when they started attacking security installations with the aim of stealing guns, didn’t you hear that the attackers at Gaddafi barracks in Jinja first strangled the UPDF soldier before firing bullets on his dead body?” a source preferred anonymity said.

He added that Museveni wants Gen. Saleh to use the same tactics they have previously used to fight gunmen.

Another source said that there is a sharp division within security agencies and the president wants Gen. Saleh to fix it and save the situation.

Gen. Muhoozi Kainerugaba, the special presidential senior advisor on operation, has been the supervisor of all the operations in the country.

Stories Continues after ad

Housing Finance Bank, partners unpack the Housing Policy at the Housing Baraza

By
Our Reporter
-
Peace Ayebazibwe – Executive Director – Housing Finance Bank

Housing Finance Bank along with Next Media Services successfully closed the 4th Edition of the NBS Housing Baraza which took place from 24th – 25th November.

The event under the theme, “Building a Strong Housing Ecosystem: Partnering to house generations” aimed at identifying innovation and business development opportunities, providing networking opportunities, and exploring related topics affecting Uganda’s housing market today from a consumer’s perspective including the outstanding issue of Uganda’s affordable decent housing deficit.

The two-day event brought together key stakeholders in the industry and provided an opportunity for Housing Finance Bank to inform and educate the public about the institution and its offering to the people of Uganda including how the Bank is addressing the current housing deficit.

It was attended by Dr. Joseph Muvawala- Executive Director National Planning Authority (NPA), Dr. Hamis Mugendawala – Manager Policy Research and Innovation (NPA), Ms. Sarah Chelangati – Commissioner Domestic Taxes Uganda Revenue Authority, Gerald Paul Kasaato – Chief Investment Officer National Social Security Fund, Joseph Lutwama -Director Programs Financial Sector Deepening (FSD) Uganda, Shirley Kongai. President, AREA-Uganda to mention but a few. And the event closing remarks were given by Persis Namuganza- State Minister for Housing Ministry of Lands, Housing & Urban Development

The challenges raised in the National Planning Authority Policy Paper were key points of discussion during the NBS Housing Baraza. According to the paper, at a median income of Shs220,000 per month for the urban folk, and Shs168,000 per month for the rural folk, approximately 96% of Ugandans can not afford the cheapest typical house formally constructed by a private developer. In addition to this, the paper states that the majority (76%) of Ugandans can only afford housing units in the range of 12M-24M and that there is significant mismatch between the demand and supply for housing which has left the country with a huge cumulative housing deficit of 2.2M excluding 900,000 existing units that have been condemned as inhabitable for humans.

Speaking at the event, Ms. Peace K. Ayebazibwe, the Executive Director of Housing Finance Bank, said “At Housing Finance Bank, we have been working with different developers and partners to enable affordable housing from the supply side. We finance the developers and support them with off takers.”

Housing Finance Bank has been keen on providing affordable home financing and continues to work hand in hand with industry stakeholders to identify solutions that reduce the cost of construction while ensuring the structures built are decent and habitable.

On the demand or consumer side, Ms. Peace K.  Ayebazibwe went on to share that the Bank has developed a product called Incremental Housing Loan – Zimba Mpola Mpola.  This product is designed for everyone because the Bank can lend between Ugs. Shs. 200,000 to about Ugs. Shs. 50 million to enable middle and low-income Ugandans to build their homes incrementally.

The Zimba Mpola Mpola model was developed by Housing Finance Bank after research carried out showed that most Ugandans build incrementally. This enables them build decent and habitable homes while breaking down the customer’s financial burden into small manageable chunks whose payment does not affect their current livelihood. The tenure for Incremental Housing Solution is 3 years.

During the event, building a sustainable ecosystem was a key point of concern to many players. However, Housing Finance Bank has already taken up this initiative by bringing together different real estate players to ensure issues of accessibility, service utility availability, quality, and environmental protection are addressed as their customers carry out their construction projects.

Among the solutions raised in the Housing Baraza is the need to empower the population with awareness and affordable housing options. The Bank, in line with its mission to enable home ownership and financial independence, facilitates customers to build their homes with up to 100% financing payable over 20 years, while improving customer service through innovation. The latest additions to the Bank’s digital transformational journey include remote account opening, which is time saving using the HFB App, available on GoogleStore and AppStore. There is no need to go to the bank to open an account with HFB, which further promotes financial inclusion especially within the youth and informal sector.

To encourage the customer to invest, the Bank launched the HFB Securities Online Portal, which allows customers to invest in Treasury Bills and Bonds for as low as Shs.100,000 with just one click. This eliminates the tedious paperwork that was previously the norm with investing in high yielding assets like Government Securities.

Stories Continues after ad
1...490491492...2,419Page 491 of 2,419

© Eagle Online. All rights reserved.

About Us

Popular Category

Editor Picks