Geoffrey Osborn Oceng, the Amuru Resident District Commissioner says the protracted border impasse has resulted into insecurity, interrupted cross border economic c activities and displacement of communities.
The acquisition follows the execution of an agreement signed on September 29, 2020, whereby Allianz agreed to acquire the majority shareholding in the short-term general (property and casualty) insurance business operations of Jubilee Holdings Limited, in the five countries.
The Association Chairperson, Hassan Ssekabira argues that the land, which is currently held as a public asset is largely laying idle with no serious commercial activities taking place on it yet they can utilize it to improve their livelihoods as well as generate direct revenue for the government.
“The National Telecom Operator (NTO) licensee shall require to list at least 20% of its shares on the Uganda Securities Exchange within two years from the date of grant or issuance of the licence," the guidelines state.
The oil is now stored in specialised containers or called Butitainers at four locations in the Albertine Graben; Kasamene-1, Ngara-1 and Ngiri-2 well sites in Buliisa District, and Tangi Camp in Nwoya District.
Construction of the airport began on April 18 2018. It should have been completed by April, 2022 but the contractor was granted a 10-month extension by the Ministry of Works and Transport. According to the revised plan, completion has been scheduled for February 17, 2023.