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Collective Investment Scheme assets hit Shs857bn – CMA

By
Our Reporter
-
Keith Kalyegira CEO of CMA

The Capital Markets Authority (CMA) has released the performance of Uganda’s capital markets for the period of 1st July 2021 to 30th September 2021, the third quarter of 2021.

According to the analysis, Uganda’s Collective Investment Schemes (CIS) managers had a total of Shs857.3 billion in Assets Under Management (AUM). This growth represented an increase of 17.1% from Shs731.9 billion registered at the close of the second quarter of 2021.

Collective Investment Scheme is an investment product that allows an investor to pool savings with other investors, creating a large pool of funds to be invested on their behalf by a professional CIS manager.

On an annualized basis, it is estimated that AUM also grew by 94.9% from Shs439.9 billion recorded in a similar period in 2020 (3Q2020).

The total number of CIS accounts at the end of June 2021 was estimated at 25,511 compared to a total of 20,668 investor accounts at the end of the previous quarter, an increase of 23.4%. This growth in AUM and clients can be attributed to increased awareness about the benefits of investing through CIS vehicles among local investors.

Domestic market capitalization at the Uganda Securities Exchange (USE), which accounts for the value of locally listed stocks fell by 1.3% from Shs4.33 trillion at the end of June 2021, to Shs 4.28 trillion at the end of the review period. This decline was mainly due to share price losses registered on seven locally listed counters. The share prices have been affected by, among other things, the negative market sentiment owing to the effects of the Covid-19 pandemic. The lockdown measures announced in early June 2021 further led to low investor demand for stocks.

On an annual basis, domestic market capitalization grew by 0.3% from Shs4.26 trillion at the end of a similar period in 2020. The growth in domestic market capitalization was due to the increase in the share prices of two locally listed counters SBU (9.9%) and UCL (6.3%).

Equity turnover at the Uganda Securities Exchange grew by 20.8% from Shs5.9 billion registered in the second quarter of 2021 (2Q2021) to Shs7.2 billion in the third quarter of 2021.

The value of government bonds traded on the secondary market fell by 14.7% to Shs10.5 trillion in the third quarter of 2021 from UGX 12.3 trillion in the second quarter of 2021. Average monthly turnover also fell by 14.6% to Shs3.5 trillion in the review period from Shs4.1 trillion previously.

Additionally, the government bond turnover ratio for the third quarter of 2021 stood at 51.1%, compared to 63.6% in the second quarter of 2021. The decrease in turnover can be attributed to, among other things, the second national lockdown measures that were announced in early June 2021.

The capital markets are projected to register increased activity from both domestic and foreign institutional investors as the Government gradually eases the Covid-19 containment measures that were announced in early June 2021.

The increased rollout of vaccines against Covid-19 is expected to stimulate further re-opening of the Ugandan economy allowing most sectors to fully open, thus supporting the re-entry of off-shore investors. It is also important to note that the anticipated listing of MTN Uganda on the USE before the end of the year is also expected to increase market activity.

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Joseph Kabuleta: Ugandans shouldn’t be forced to take #Covid-19 vaccines

By
Our Reporter
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Joseph Kabuleta

Former Presidential candidate Joseph Kabuleta has launched a new website portal, falsevaccines.ug to rally Ugandans share experience from the inconsistencies resulting from the ‘ineffective’ Covid-19 vaccinations across the country.

Addressing the media in Kampala on Tuesday, Mr Kabuleta, along with city Lawyer Dan Walyemera and Medical Entomologist Moses Mugisha said it is illegal for the government of Uganda to force anyone to be injected with vaccinations which are not yet proven to be safe and effective.

Kabuleta said, it is unfortunate that the manufacturers of the Covid-19 vaccines, the researchers and the medics who administer them are all protected by the law to produce and vaccinate except the people being vaccinated with what he termed as an international vaccine experiment.

“Those vaccinated are part of the world wide experiment on the new vaccinations,” he asserted, adding that “The vaccines have side effects to breast feeding mothers and to the babies as they flow through the blood streams. It also affects the testis and the ovaries in men and women.”

The former journalist also wondered why all the vaccinated people are not allowed to donate blood.

“There is a debate going on across the world and we cannot allow it to be sidelined in Uganda,” he stated.

Mr Kabuleta further urged all vaccinated Ugandans to share their experiences on the challenges associated with the vaccinations on his new platform, falsevaccines.ug to expose the people who have decided to make their fellow humans as test rats.

“I would rather get Covid 100 times than getting vaccinated,” Mr Kabuleta added.

Government of Uganda has since the beginning of this year received donations, purchased Covid 19 vaccines including AstraZeneca, Pfizer, Johnson and Johnson among others to vaccinate Ugandans to reduce their vulnerability to the acquisition of the world’s deadly pandemic.

More than 4 million Covid-19 doses have been acquired. President Museveni has kept Ugandans under a dusk to dawn curfew as part of his efforts to prevent the spread of Covid-19.

In his recent address to the nation, the President said he would reopen the country after approximately 4.8 million Ugandans have been vaccinated. Also, government administrators including Resident District Commissioners (RDCs) have vowed not to receive any Ugandan who is not vaccinated into their offices.

However, Counsel Walyemera noted that keeping unvaccinated Ugandans out of public offices is a gross human rights violation that shouldn’t tolerated.

“It’s not right for citizens to be denied access to public offices because they lack vaccination cards. It’s supposed to be by choice and not by force.”

Dr Mugisha told this website that government should stop the compulsory vaccination of Ugandans since it is against the ethical code of medical and health officers in the country.

“Medical and health officers are among those who refused vaccination. Whether or not you are vaccinated, you still get infected with Covid 19. So vaccination should not be forceful,” Mugisha revealed.

When contacted, the Ministry of Health spokesperson Emmanuel Ainebyona told this website that those arguing that vaccines are not safe are idle and misleading the public and anyone should condemn them.

“We want to assure Ugandans that the vaccines are proven and safe and are the only way to reopening the country and the whole economy,” Ainebyona said.

Meanwhile, the country has since the launch of the vaccination exercise received a number of backlashes with several Ugandans including the Deputy Director of the Government Citizen Interaction Center- Duncan Abigaba and former Minister for Health Mike Mukula indicating that among the side effects of the vaccination is erectile dysfunctioning.

Also, some people have complained of a paining left arm every after the vaccination. However, despite the challenges, the Ministry of Health has dismissed the accusations saying there are no severe side effects caused by the vaccination.

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President Museveni: Isaac Matovu who died in a bomb blast along Kampala-Masaka road was a terrorist

By
Geoffery Serugo
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President Museveni

President Yoweri Museveni has revealed that the person who died in the Ishaka bound bus was a terrorist by the names of Muzafala, but instead called himself Isaac Matovu.

Muzafala was travelling in the bus going to Western Uganda. Among the victims injured on the bus is Andrian Kwetegyereza, acting Greater Bushenyi Regional Police Commander.

Museveni said Muzafala was part of the Pader group that had been sent by ADF to blow up the mourners during the funeral of late Maj. Gen Lokech’s funeral. One of them, by the name of Katumba Abdu, was arrested in a Pader Hotel with his bomb-making equipment. He has been brought to court.

“His collaborator, by the names of Nsubuga Hamid fled from Pader to Kampala, where he was killed by the CMI operatives while resisting arrest,” he said.

“The killing of Nsubuga, the arrest of Katumba, plus the killing of Lubwama Hussein others that were involved in the attack of Katumba and the arrest of Walusimbi Kamada, and five others that were also involved in the attack of Katumba has enabled Police and CMI, to arrest a large number of suspected operatives of ADF. Arresting or killing these suspected criminals led to the hunt for Muzafala and others who are still on the run in Uganda and outside,” Museveni said.

He said What is not yet clear, is whether Muzafala blew himself up accidentally while carrying the bomb on his lap or he did so deliberately.  However, he was being followed by CMI squads.  We shall get all of them. The breakthrough followed the attack on Katumba.  That is when full accountability for the ADF criminals irreversibly started and their impunity ended in the phase of urban terrorism.

“The defeat of their rural terrorism was in 2007 in the Semliki National Park. The present shallow effort is easy to defeat. Just some vigilance by the people e.g. checks at the hotels, churches, mosques or buses, etc., will immunize these gathering points against these bombs.” he said

He said the Police will put out guide lines.  We are following all the other shallow schemes that will be similarly defeated. The injuring of some Ugandans in the bus is much regretted.

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Makerere University tightens security amid unprecedented bombings

By
Simon Kabayo
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Makerere-University

Makerere University has strengthened security measures in and around the campus amid unprecedented bombings in the country.

The enforcement of the security measures comes shortly after two bomb explosions in Komamboga and Mpigi along Kampala- Masaka claiming four lives.

The University management in reaction to the terror scare has today issued new tough guidelines to mitigate the risk of being a possible next target some of which include a mandatory thorough inspection upon entry to the university.

With the above unprecedented incidents, Makerere University has come out to mitigate the risk of being a possible next target by beefing up security guidelines like thorough inspection upon entry as well as limiting the entry through only the main gate.

The University Vice Chancellor Prof Barnabas Nawangwe released a memo affirming the closure of other auxiliary gates; the Eastern and Western gates.

“Please note that for security reasons, the Eastern and Western gates will be closed till further notice,” the VC csaid.

“Due to the recent acts of terrorism in Kampala, security at Makerere University has been reinforced. This will include inspection of vehicles entering Makerere. This is to request all members of the Makerere University Community to cooperate with the security personnel. Please be vigilant and report any suspicious persons or movements to the security personnel. Security begins with me and you,” Prof. Nawangwe said.

Makerere University community is one of the most populated amongst higher education institutions thus a potential target for the terror attacks that prey on large numbers. The number of people at Makerere hill has spiked in recent days as reopening edges in, prompting the administration to act before any tragedy.

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Airtel partners with Ankole Coffee Producers Cooperative Union

By
Simon Kabayo
-

Airtel Uganda, Uganda’s largest 4G network has partnered with Ankole Coffee Producers Cooperative Union (ACPCU) to provide the convenient Airtel Money payments platform services to ACPCU enhance payments of member farmer’s in a simple and secure way across the Ankole region.

This partnership will simplify and improve farmer’s payments for all participating cooperatives, and all members of the Coffee value chain like input providers and traders in the Ankole region. This will greater enhance financial inclusion in the region and economic empowerment and growth.

Andrew Rugamba – Ag Director Airtel Money, in his remarks during the launch ceremony on 25th October, 2021 said that, the partnership is meant to create a robust mobile money ecosystem, which will help in the provision of efficient and sustainable services and this will position Airtel as a key player in the Agri business value chain through the access and use the Airtel money.

“We will be building on the strides made by Airtel to develop digital products, and deepen coverage toward increasing access to mobile and financial services in Uganda as a key player in the Agri-business value chain,” he explained.

In the ACPCU areas of operation, Airtel will continue to support registration of farmers, merchants schools and hospitals for Airtel Money services, and continue to train users on how to use the services.

This will increase the penetration of Airtel money services, and growth in consumption of mobile financial services,” Rugamba added.

The chairperson Ankole Coffee Producers Cooperative Union (ACPCU), Lay Canoon Sam Mugabi, appreciated Airtel Uganda for rolling out this partnership in Ankole region. He further hightlighted that over 21 primary cooperatives which house close to 14,000 farmers will benefit from this partnership.

“We are delighted to partner with Airtel Uganda as an enabler of farmer’s businesses in the new digital era, this partnership will cut across other Airtel services like internet” he said adding that, “Our membership has finally found a lasting solution to managing their financial transactions as they do business in the region and beyond. I therefore wish to encourage all ACPCU members to embrace this new service and acclimatize themselves with it so as to cope with the times, enhance security of their money, have a trail of the movement of their money as transactions are traceable as well as convenient,” Mugabi concluded.

According to the Uganda Bureau of Statistics 2021 Uganda National Household Survey Report, at least 51 percent of the Ugandan population uses Mobile money services; a key statistic that highlights the significance of the use of money on the phone in creating new opportunities for micro and small enterprises (MSEs).

To bolster access to Airtel Money services, Airtel has increased its Airtel Money branch footprint in the region that will enable the community to conduct financial services in real-time. This is in addition to the over 2,100 4G enabled masts that Airtel Uganda has in all parts of the country.

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EC emphasizes discipline and observance of SOPs as it updates voters’ register

By
Our Reporter
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EC chairman Justice Simon Byabakama.

The Electoral Commission (EC) has urged Ugandans to exercise discipline and observe Standard Operating Procedures (SOPs) as it updates voters’ register but also as the country prepares for local government council by-elections.

The updating of the National Voters Register in electoral areas across the country, where Local Government Councils by-elections are taking place and will close today, Tuesday 26th October, 2021. The update exercise commenced on Friday 22nd of October and the purpose is to enable all new eligible applicants to register as voters.

The Commission urged people to exercise discipline and observe SOPs during the updating of the Voter’s register and other events and forthcoming electoral activities.

According to Paul Bukenya, the Spokesperson of EC Ugandan citizens of 18 years above and those who have never registered before as voters, originating or residing in electoral areas, are encouraged to present themselves at update stations in their respective parishes/wards and apply for registration as new voters.

“Registered voters who may wish to transfer their voting location are also encouraged to fill the necessary application forms for transfer. The registration of new voters and processing of applications for transfer of voters will not be conducted after the 26th day of October 2021,” he said.

The categories of vacancies to be filled during these by-elections include; the District Chairperson for Kayunga; Chairpersons at Sub County level, as well as Councillors at the District and Sub County, including Councillors representing Special Interest Groups (SIGs).

The nomination of candidates will be conducted on Friday 29th and Saturday 30th November 2021 at the respective district headquarters. Candidates’ campaign meetings will be conducted for a period of 13 days, that is, from Thursday 2nd to 14th December 2021.

The Special Interests Groups elections will be held on 16th December 2021 while the Kayunga District LC V by-election will be held on the 17th December 2021.

Kayunga LCV seat fell vacant after the death of Ffefeeka Serubogo Muhammad. The former member of National Unity Platform (NUP) was found hanging on a tree.

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Agriculture Minister Frank Tumwebaze flags off Ugandan milk to Zambia

By
Our Reporter
-
The milk being loaded onto the trucks

The Minister of Agriculture, Animal Industry and Fisheries Frank Tumwebaze has flagged off 50 tonnes of Lato milk to Coca-Cola Beverages Africa in Zambia.

As part of its commitment to foster growth of the Ugandan economy by supporting the government’s ‘Buy Uganda Build Uganda’ policy, Coca-Cola Uganda facilitated the connection to its diverse network thereby enabling the exportation of milk.

Lato powdered milk is produced by Pearl Dairy Farm Limited. The export agreement will go a long way in motivating other Ugandan farmers to position their products for export.

Tumwebaze applauded Coca-Cola Beverages Africa for its support of local industries and continued contribution to Uganda’s economy through its variety of products, support to local farmers and direct employment of thousands of Ugandans.

He also noted that besides improving the dairy value chain, export of this consignment is a positive testament of the ministry’s effort to promote the agro-industrialization objective of markets promotion and increased access to markets in accordance with government’s National Development Plan (NDP III).

“I thank Zambian government inspectors who confirmed that Lato milk products are internationally certified. They worked hand in hand with the Department of Animal Health at the Ministry and I am glad Uganda has now broken into the Southern Africa Market,” he said.

Mr. Bashir Kamulegeya, the Coca-Cola Mbarara Plant Manager, represented Melkamu Abebe, the General Manager of Coca-Cola Beverages Africa in Uganda said when government initiated the Buy Uganda, Build Uganda policy, Coca-Cola was fully on board because it believes in adding value to the communities in which it operates.

“We launched our Climb Up milk with the intention of refreshing Ugandans with a nutritious product but one with a unique difference – the ingredients and packaging would all be made in Uganda. We have brought samples here for you to see and taste for yourselves,” he said.

“We searched for a credible, reliable and trustworthy supplier of the key ingredient and went through a development process with Pearl Dairy Farms Limited to ascertain that they could meet the stringent quality standards of Coca-Cola globally. We are proud to note that they did! Having a Ugandan company certified as our supplier is something for all Ugandans to be proud of. After they had supplied us consistently over time, we found more opportunities and today they are supplying our sister company in Zambia,” he added.

The company recently launched Adez Nutri-Bushera, a plant-based beverage that is also creating opportunities to build the economy of Uganda and supporting raw material producers in the agricultural sector.

Bhasker Kotecha, the Chairman of Pearl Dairy Farms Ltd, praised the efforts of various stakeholders such as the Ministry of Agriculture, Animal Industry, Fisheries (MAAIF) and the Dairy Development Authority (DDA) and the ministry’s Directorate of Animal Resources for facilitating the landmark breakthrough.

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Ex-SFC Commander Don Nabasa appointed as Military Police Commander

By
Simon Kabayo
-
Don Nabasa

Commander in Chief of the Armed Forces President Yoweri Museveni has appointed former Special Forces Commander Maj Gen Don Nabasa as the new commander of Military Police.

He replaces Brig Keith Katungi. Brig Katungi will also replace Nabasa as the Ugandan contingent commander in Somalia under AMISOM.

Don Nabasa joined the UPDF in 1998. In 1999, he was commissioned as a Second Lieutenant, following the completion of an Officer Cadet Course at UPDF School of Infantry, then located in Jinja, in Uganda’s Eastern Region.

Over the years, Don Nabasa has attended many military courses. He has commanded various units in the UPDF, starting with an Infantry Platoon in 1999, then a tank platoon in 2000, then serving as a brigade operations officer from 2004 until 2005.

He commanded a tank squadron between 2000 and 2007, then as the commanding officer of a battalion from 2008 until 2012 and as commander of a Group, from 2012 until 2016. From 2016 until his assignment to his current position, he served as the Deputy Commander of the Special Forces Command, an elite force within the UPDF.

He was replaced by Maj Gen James Birungi as the SFC commander. In February 2019 he was promoted from the rank of Brigadier to that of Major General, as a part of a promotions exercise involving over 2,000 men and women of the UPDF.

Maj Gen Don Nabasa was later sent for a one- year training course at the National Defence College in China. After completing the training in August 2020, he was sent to Somalia to succeed Brig. Richard Otto as the Contingent Commander of AMISOM.

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We have clear and plenty clues, Museveni warns after bus explosion kills one in Uganda

By
Our Reporter
-

 

President Yoweri Museveni has said that there are clues that are clear and plenty after this evening blast on a Swifty Bus in Mpigi district.
The bus was enroute to Western Uganda and among the victim  injured on the bus is Mr. Andrian Kwetegyereza, acting greater Bushenyi Regional Police Commander.
Museveni also said security is investigating whether it is true that one person was blown by the explosion.
“The remaining 37 other passengers were safe plus the driver. The Police are investigating whether the person blown up was the one carrying the bomb or not. However Preliminary reports say that the blast was from the seat and it killed only that person and injured the one who was sitting behind. The hunt continues, the clues are CLEAR and PLENTY” President tweeted.

Police has confirmed Monday evening blast on a Swift bus company that has killed one person and several others injured in an explosion in Mpigi District.

Police has dispatched a team of bomb experts  to Lungala, along the Kampala-Masaka highway explosion occurred on UAU 989T, at around 5.30 pm.

“Explosive on Mbarara Bus team of bomb experts has been dispatched to Lungala, along the Kampala-Masaka highway, after a deadly explosion occurred on a bus belonging to Swift Safaris Bus registration number UAU 989T, at around 5pm . It was was traveling from Kampala to Bushenyi”. it further reads “The scene has been cordoned off pending a thorough assessment and investigation by the bomb experts. We shall periodically give updates surrounding the incident”.

The explosion on the bus is just two day after another explosion killed two people in a bar over the weekend in Komamboga a Kampala suburb.
Islamic State has claimed to be responsible for the weekend blast but Uganda Police said they couldn’t ascertain whether it is IS or another group as investigations are ongoing.
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EC: Updating of National Voters’ register for Local Gov’t Councils By-elections ends tomorrow

By
Our Reporter
-
Mr. Paul Bukenya - EC Spokesperson

The Electoral Commission (EC) has said the updating of National Voters register ahead of local government by-elections will conclude tomorrow Tuesday the 26th of October, 2021 at 6 pm.

The update exercise commenced on Friday 22nd of October and the purpose is to enable all new eligible applicants to register as voters.

Also, it helps transfer of voters who wish to transfer to new voting locations and enable them to confirm that their photographs match their particulars.

The display of the National Voters’ Register will be conducted from 8th to 17th November 2021, at all polling stations in the affected Local Government electoral areas.

The categories of vacancies to be filled during these by-elections include; the District Chairperson for Kayunga; Chairpersons at Sub County level, as well as Councillors at the District and Sub County, including Councillors representing Special Interest Groups(SIGs).

The nomination of candidates will be conducted on Friday 29th and Saturday 30th November 2021 at the respective district headquarters. Candidates’ campaign meetings will be conducted for a period of thirteen (13) days, that is, from Thursday 2nd to 14th December 2021.

The Special Interests Groups elections will be held on 16th December 2021 while the Kayunga District LC V by-election will be held on the 17th December 2021.

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