Stanbic Bank
Stanbic Bank
19.6 C
Kampala
Stanbic Bank
Stanbic Bank
Home Blog Page 609

Absa Bank introduces land purchase loans to accelerate land and home ownership

Musa Jallow - Absa Uganda Retail Director & Karim Kawesa - MD of Bakaima Real Estate Agents pose following the signing of a partnership agreement between the two entities

Absa Bank Uganda has introduced land purchase loans to help more people realise their dream of land and home ownership. aThese loans will enable customers to access affordable financing for the purchase of land in Greater Kampala and select cities in Uganda.

The mortgage facility offers up to Shs 500 million in financing and allows for a payment period of up to 10 years at affordable interest rates.

“Land is one of the most coveted assets in Uganda and a key factor in the housing sector that many of us want to acquire when we start planning for our futures because the purchase of land is a wise investment decision as it appreciates over time and creates motivation to get started on building a home. With this offering, we intend to provide affordable financing that will make land and home ownership a reality for our customers,” said Musa Mai Jallow, Retail Director, Absa Bank Uganda.

According to Knight Frank,a real estate consultancy, with Uganda’s current population of 42 million, a population growth rate of 3.3% and an urbanization rate of 5.67%, Uganda faces a housing shortage of 2.4 million units, with 210,000 in urban areas and 1.395 million in rural areas.

To introduce the offering to the market, Absa has entered into a partnership with Bakaima Real Estate Agents, a real estate developer offering land for sale in several areas of Greater Kampala.

“The demand for land remains high with the biggest reason for purchase being building personal homes. Many are unable to purchase land due to the unavailability of funds and are rarely eligible to get loans from the banks to make or complete their payments. We appreciate this partnership with Absa Bank for it will address one of the biggest challenges to land ownership in Uganda,” said Mr. Karim Kawesa, the Managing Director of Bakaima Real Estate Agents.

Some of the factors affecting the supply of affordable housing include increasing land prices and limited access to funding opportunities, while on the demand side, high costs of borrowing and limited mortgage opportunities are some of the barriers making it difficult for more Ugandans to afford a house.

“We intend to partner with more real estate developers to expand access to this facility. With increased urban development, we continue to witness higher demand for land in areas with better health, education, and other essential social services.” Jallow said.

Stories Continues after ad

Ugandans continue grappling with the rising prices for essential commodities – report

Ugandans are facing a growing livelihood crisis as prices for food and basic commodities rise sharply.

According to Uganda Bureau of Statistics, between April 2021 and April 2022, there were major increases in the cost of a range of goods including food:  82% laundry soap, 57% cooking oil, 37% diesel, 28% cement prices, 25% maize flour and 24% matooke.

The World Food Program tracks prices of food regularly and their data shows a 30%-50% increase in the price of maize flour, cassava flour and sorghum over the past 12 months. Prices for these staples are now higher than any time in the last decade except for 2017 when East Africa overall experienced drought related food shortages.

These price increases come at a time when Ugandans were already facing food insecurity in large numbers. The Covid-19 pandemic and enforced long-term lockdowns saw Ugandans struggle to put food on their tables. Four out of ten households (37%) had members who went for a day without eating in the previous 12 months compared to 23% in December 2020. Similarly, half of households (48%) ran out of food in the past 12 months compared to 36% in December 2020. Skipping a meal (52%) was also a common response to lack of food or resources.

The experiences of food insecurity are very unequal, as poor households are hit much harder than wealthier ones. In October 2021, 24% of wealthier households and 55% of poorer households went without eating for a day, 37% of wealthier households and 66% of poorer households ran out of food in the household while 38% of wealthier households and 73% of poorer households had members who had to skip meals.

Comparing poorer and wealthier households in the country:  90% of wealthier households own TVs compared to zero per cent of poorer households, 74% of wealthier households own sofas compared to 0.1% of poorer households, 75% of wealthier households own radios compared to 17% of poorer households,  91% of wealthier households own mobile phones compared to 42% of poorer households.

Poorer households are more likely to own hoes or poultry and livestock than wealthier households. At the same time 18% of wealthier households own wheelbarrows compared to 8% of poorer households.

The relationship between language and life circumstances revealed by this survey is also interesting. The majority (55%) of poorer householdsspeak Ateso (17%), Leblango (15%), Lusoga (14%) and Ankaramojong (9%). In wealthier households these are spoken by 11% of the people.

These findings were collected and curated by Twaweza East Africa and are being released to mark the launch of the second Sautiza Wananchi panel. The data provide the opportunity for citizens to share their feedback and experiences of government. The brief is based on data from Sautiza Wananchi, Africa’sfirst nationally representative high-frequency mobile phone survey. The data presented were collected from a nationally representative sample of respondents via the second Uganda baseline survey, sampling 3,000 citizens from across the country.

Violet Alinda, Twaweza Uganda Country Lead and Director of Voice and Participation, said, “Ugandans, who have suffered deeply during the Covid-19 pandemic and ensuing lockdowns, are again facing serious threats to their livelihoods. The time for action, to hear the call of citizens, is now.”

Aidan Eyakuze, Executive Director of Twaweza, said, “We are honoured to be launching the second Sauti za Wananchi panel, through which we hope to ensure that citizens’ voices help to shape official decisionmaking. These 3,000 citizens voices are added to the many calling for relief to see the country through these devastating price rises.”

Kabbyanga Godfrey Baluku, the state minister for Information, Communication and Technology (ICT) urged Civil Society Organisations (CSO) to educate citizens about their civic rights and their roles noting that it will empower them to demand for better services from the government.

 “During the COVID-19 lock downs, Twaweza provided data for key entry points (Kyotera,Tororo and Kampala) which was used in designing communication programs to increase uptake of prevention and protection guidelines. The data will help us in our decision making particularly around dealing with inequalities that were increased by the pandemic” he said

He said government needs mechanisms such as SautiZaWananchi to monitor and keep track of what is happening in communities.

Stories Continues after ad

Kibalama faction says it has ended relationship with People Power as NUP unveils new home

NUP Headquarters -Kibalama faction

A faction of the National Unity Platform (NUP), led by Moses Kibalama has ended its relationship with the people power movement and unveiled new offices in Lubaga.

Tugume Gideon, the faction’s Secretary for Information, said in a press release that as per the delegates conference of the National Unity Platform held on the 27th May 2022, it was resolved that the party finds new headquarters from Kamwokya in fulfilment of the decision of the delegate, the Central Executive Committee of the party.

He claimed lack of transparency in the people power movement leadership, failure to provide accountability by its leaders and failing to respect and follow the party’s constitution.

Moses Kibalama

The faction also accused people power movement of failing to contain discipline within the party, exhibiting of dictatorial management of the NUP affairs, failing to open up structures and suffocating the party organs.

“As NUP, we needed to facilitate and nature internal democracy within the party,” Tugume said.

He added that People power movement closed all avenues of creating good working relationships with other political players in the opposition fraternity and suffocating of avenues of dialogue in the political space of the country.

“The new administrative leadership of the party as a result off the 27th May 2022 delegates conference is now mandated and charged with the day to day running of the party activities both here and outside the country,” Tugume said.

NUP is already working up to speed to field candidates in all the by-elections and women elections at all levels in all areas as declared by the electoral commission and “very optimistic to win all areas”.

“The head office is now officially open for all elected members of NUP at all levels inclufing the meme of parliament to come and formalize their memeerb to get the blessings of the real Bishops of NUP.”

“NUP therefore issues a strong warning ro whoisever id foung using party colours, symbols, stamps and any other party materials without peri\mission form the party leadesgipo, as suc g will attratdv very punitively,” he warned.

“All authorities are hereby informed to disregard Kamwokya as National Unity Platform head office.”

Stories Continues after ad

Kabogoza Musoke appointed Public Service Commission chairperson

Kabogoza Musoke

President Yoweri Museveni has appointed Winnie Agnes Kabogoza Musoke as the new chairperson of Public Service Commission replacing Justice Ralph William Ochan.

This was confirmed by the Deputy Presidential Press Secretary Faruk Kirunda.

Francis Oryang Lagony has been appointed as the Deputy Chairperson while Grace Tubwita, Hajjat Jamillah Kamulegeya, Michael Mugisa, Beingna Mukibi, Titus Kisambira Mutanda, Emmanuel Ourum Olaunah and Adah Kabarokole Muwanga as members of the commission.

Titus Kisambira is the former chairman LCV Jinja district while Michael Mugisa is the former Kabarole chairman and Executive Director Natioanl Forestry Authority and husband to state minister for Health Margaret Muhanga.

“By virtue of the powers given to the President by Article 165 (2) of the constitution of the Republic of Uganda, I hereby appoint the following persons to the Public Service Commission:” Museveni said in a 6th June, 2022 letter to the Speaker of Parliament Anita Among.

The appointees await Parliamentary approval.

Stories Continues after ad

Opposition outlines milestones of the First Session

Opposition MPs led by Mathias Mpuuga (2nd R)

The Opposition Members of Parliament have patted themselves on the back for achievements registered in the First Session of the 11th Parliament.

The legislators headed by the Leader of the Opposition, Hon. Mathias Mpuuga, indicated that 11 statements were presented in Parliament under Rule 53, 12 minority reports were presented and 21 alternative policy statements were read.

In a press conference to highlight the business conducted by the Opposition in Parliament on 20 June 2022, the legislators hailed the government for adopting some of their recommendations and ideas.

According to Hon. Joyce Bagala, the Shadow Minister for Information and Anti-Corruption, some of the key milestones of the Opposition included ‘putting breaks’ on excessive local borrowing and providing an alternative to the Parish Development Model, proposals to reduce electricity tariffs and blocking the controversial Uganda-Vinci coffee Agreement among others.

“Despite the high level of debt, government pushed for additional domestic borrowing equal to Shs2 trillion to finance the supplementary budget. The Leader of Opposition assembled his political and technical resources in the relevant committee that officially rejected the borrowing,” Bagala read in a statement.

The opposition also cited advocacy on human rights as their achievements in the First Session.

Bagala also hailed the government for taking on some of their recommendations.

“Parliament unanimously adopted the position of the Opposition on decentralization of local revenue. This was a principle set out in the Opposition Legislative Agenda. The policy had made local governments nonfunctional as all revenues were taken away,” she said.

According to Bagala, government adopted some of their proposals which have ended up saving taxpayers money.

Meanwhile, the Opposition distanced itself from the rumours that Members of Parliament were paid Shs40 million.

Some of the achievements of the Opposition in Parliament include; Presenting the Opposition Legislative Agenda, Providing an alternative to the Parish Development model, Stopping the controversial Uganda Vinci Coffee Agreement and Advocating for Human Rights.

Stories Continues after ad

Four female siblings arrested for murder of their father

Crime scene

Police in Serere has in custody four female siblings for the murder of their 65-year-old father, Okure John, who was a retired worker at Igola Research station, Serere, and resident of Igora II village Okulonyo parish, Orio sub-county in Serere district.

Police Spokesperson Fred Enanga revealed that on 15th June 2022, a one Martha Akwango returned from school while crying, after she got possessed by evil spirits. “When she reached at their home, her 3 other female siblings, started praying over her, to cast away the demons that had attacked her.”

“During the prayers, the 3 female siblings, while casting out demons from their younger sister, attacked their father inside the home they shared, and beat him to death. They further poked out both his eyes, which in their vision, was fired with evil spirit, and the cause of the demonic attacks on them.”

Ensanga said the attack was so violent that blood splatter was seemingly everywhere and both eyes poked out.

The siblings who include; Achumo Deborah, Achom Ester, Ikwadi Susan and Akwango Martha were arrested.

“It is a spiritually influenced on their allegedly devilish father that is very difficult for any normal person to comprehend. They are being processed on murder charges,” Enanga said.

Stories Continues after ad

Belgium hands over tooth to family of Congo independence hero

Roland Lumumba speaks with the media as he arrives for a ceremony during which the remains of his late father, Democratic Republic of the Congo's first Prime Minister Patrice Emery Lumumba, are symbolically handed over

Belgium handed over a tooth, the only known remains of the murdered Congolese independence hero Patrice Lumumba, to his family during a ceremony in Brussels on Monday.

Lumumba became the Democratic Republic of Congo’s (DRC) first democratically elected prime minister after independence from Belgium in 1960, but alarmed the West with overtures to Moscow at the height of the Cold War.

His government lasted just three months before he was overthrown and assassinated by a firing squad. His supporters and some historians accuse the CIA of having ordered his killing. His body was never found.

A Belgian official handed a blue box containing the tooth to members of his family at Egmont Palace in central Brussels on Monday.

“It isn’t normal that Belgians held on to the remains of one of the founding fathers of the Congolese nation for six decades,” Belgian Prime Minister Alexander De Croo said in a speech.

De Croo said Belgian colonial rule was a dark page in Belgium’s history, echoing comments of the Belgian King Philippe in a visit to DRC earlier in June, adding African people still experienced racism in Belgium today. 

DRC Prime Minister Jean-Michel Sama Lukonde called Lumumba a national hero and said his death and suppression of his supporters hurt not only victims’ families but the country as a whole.

Lumumba’s daughter Juliana, who in 2020 sent a letter to Belgium’s king asking for her father’s remains to be returned, said there was still a lot unknown about the final moments of her father’s life.

“All we know is that you were convicted and unable to defend yourself,” she said in a speech.

A Belgian parliamentary investigation into his killing concluded in 2002 that Belgium was “morally responsible” for Lumumba’s death.

The tooth was reportedly taken from Lumumba’s body by a Belgian policeman, Gerard Soete, who claimed to have dissolved much of Lumumba’s body in acid, and burned the rest.

Stories Continues after ad

Museveni, EAC presidents meet to pave way for Peace and Security in DRC

Museveni in Nairobi

The East African presidents are in Kenya for the third East African Community (EAC) Heads of State Conclave on Inter-Congolese Dialogue of the Nairobi Process on the Peace and Security Situation in Eastern DR Congo.

The presidents include; President Uhuru Kenyatta (Kenya)  Yoweri Museveni (Uganda), Paul Kagame (Rwanda), Evariste Ndayishimiye (Burundi), Salva Kiir Mayardit (South Sudan) and Felix Tshisekedi (DR Congo).

President Samia Suluhu Hassan of the United Republic of Tanzania is represented by ambassador to Kenya, High Commissioner John Stephen Simbachawene.

“As the Co-Convener of the Peace Process and Chairperson of EAC, the meeting is an acceleration of ongoing regional efforts to attain sustainable peace and security in Eastern DR Congo,” Kenyatta said

According to Museveni the crisis in Congo needs a collective approach from all regional members of the East African Community. “We must insist on working together because these people have suffered a lot,” he said.

Since January, North Kivu and Ituri provinces in the DRC have been engulfed by insecurity and unrest. The situation remains unpredictable and complex. Thousands of Congolese have since sought refuge in Uganda.  

The insecurity is being fueled by the M23 rebels and the allied democratic Forces (ADF). Last year, Uganda Peoples Defence Forces (UPDF) and Armed Forces of the Democratic Republic of the Congo (FARDC) have been carrying out operations to weed out ADF terrorist in the Eastern part of the county.

Since the launch of operations in November 2021, the joint forces captured over 34 ADF terrorists, killed and injured scores of them. Last month, the DRC renewed UPDF’S contract maintaining its presence in Felix Tshekedi’s country.

The two Forces are currently engaged in road construction and rehabilitation works to facilitate and further secure the movement of soldiers and the displaced civilian population, particularly on Mbau- Kamango and Mobili axes, Kamango-Semuliki- Beni.

Over the weekend, authorities in DRC accused Rwanda of being behind M23 operations terrorizing Congolese.

Stories Continues after ad

Court of Appeal dismisses election petition against MP Connie Galiwango

Ms Connie Galiwango

The Court of Appeal has dismissed an election petition against Mbale City Woman Member of Parliament Connie Nakayenze Galiwango.

In October 2021, Lydia Wanyoto Mutende, the National Resistance Movement (NRM) flag bearer petitioned the Court of Appeal challenging the lower court’s decision.

In September 2021, High Court in Mbale dismissed with costs an electoral petition challenging the election of Connie Nakayenze Galiwango as Mbale City Woman Member of Parliament.

“Galiwango resoundingly won the election with 40,729 votes against the 25,276 votes. That is a wild margin given that there were four other candidates in the race. The success of such a winning candidate at election cannot be interfered with or taken away without any justification. It should be upheld, having found that the petitioner is not entitled to any remedies. The petition is therefore, dismissed in its entirety with costs to first and second respondent,” Judge Andrew Byabashaija ruled.

In February 2021, Lydia Wanyoto Mutende, the National Resistance Movement (NRM) flag bearer petitioned the court challenging the election of Connie Galiwango. According to Wanyoto, the election was marred with violence, voter bribery and intimidation of voters.

According to Electoral Commission results, Connie Galiwango who contested as an Independent candidate after losing the NRM primaries to Wanyoto, polled 40,729 votes while Ms Wanyoto got 25,276 votes in the January 14 general election.

The story will be updated

Stories Continues after ad

NSSF Board Chairman urges MPs to create alternative sources of income

Dr. Peter Kimbowa

The National Social Security Fund (NSSF) Board Chairman Dr. Peter Kimbowa has urged MPs to embrace creation of alternative sources of income and ensure proper monetary discipline measures if they are to become financially independent.

“The new poor are the immediate former MPs who didn’t plan well, in a bid to have financial independence, you must have a source of income that can deliver up to 80% of your Parliament salary,” he stated.

Dr. Kimbowa was speaking during the closing of a three-day orientation workshop for 11th Parliament MPs at Imperial Royale Hotel, in Kampala on June 17th, 2022.

“You need to have a reserve fund of about 8 months of your emoluments at Parliament.”

He said many people have failed to progress because of factors such as investing in liabilities instead of assets, believing that they can save their way to wealth, high debt burden, cultural black mail and dependency ratio among others.

On investment areas with high returns, he cited treasury bonds and bills, corporate bonds, unit trusts, shares/stocks and offshore investments.

The Prime Minister Robinah Nabbanjasaid MPs must take the lead in fighting poverty among households through embracing the Parish Development Model which seeks to move 39% of Ugandans to the money economy.

“Colleagues, as MPs, support the Parish Development Model irrespective of our political affiliation. The Parish Development Model was given a lot of money and therefore let’s monitor and ensure that the money is put to proper use that is improving the livelihoods of our people.”

Nabbanja added: “Once our people have improved in terms of livelihood, the pressure we all have as MPs to meet their personal needs will reduce. If people have money, they will instead contribute to you, so we have no choice but to use the media and platforms to explain the critical importance of this game changer (Parish Development Model).”

Stories Continues after ad