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18:36
18:36

Gender Ministry Should Supervise NSSF-Committee Report Parliament 1 Top story

The government had initially wanted to provide for dual supervision of the Fund, putting the Ministry of Gender in charge of the social security arm of the Fund, which deals with the welfare of workers and their savings while the Ministry of Finance, would supervise the Investment arm which deals with the business component where savings are invested in assets to generate income.
16:29
16:29

Minister Defends Parliamentary Commission Budget Cuts MInistry of Finance 1 3 Top story

The cuts affected the Office of the President (1.9 billion), State House (8 billion), Office of the Prime Minister (4.31 billion), Ministry of Defence (5.14 billion), Ministry of Finance (25.9 billion), Office of the Auditor General (3.9 billion), Makerere University (4.3 billion) Uganda Revenue Authority (8.8 billion), National Curriculum Development Centre (12.8 billion), Missions Abroad (11.6 billion) and others.
17:05
17:05

Parliament Stops UGX 3B Stimulus package to Kampala Serena Hotel COVID-19 1 2 Top story

The hotel had been granted a payment of 3 Billion shillings in October last year as a stimulus package after its operations were hit by an outbreak of COVID-19 and subsequent lockdowns that paralysed the hospitality industry. According to UDC, a government entity that promotes industrial and economic development, the funds were approved after a request from Nile Hotel, the holder of the hotel on behalf of the government.
18:31
18:31

Fish Exporters Apologize over Request to Ban Local Consumption of Nile Perch

Goswami insists that he intended to imply that there is a lot of fish caught and does not go through the legal channels to benefit the economy neither does it go to the local consumption
17:58
17:58

MPs, Govt Agencies Top List of Tax Defaulters Parliament 3 1

This is contained in the Ministry of Finance’s response to the issues raised by the Opposition in Parliament on the charter of fiscal responsibility for the financial year 2021/2022-2025/26. According to the list, individuals and private companies owe a sum of 137 billion Shillings while government entities owe 209 billion Shillings to the government.
18:21
18:21

Hotels Raise Security Levels after Bomb Attacks 5

Following the events over the last two days, there is a noticeable increase in the security measures and the vigilance of the security personnel at the entrances of hotels.
18:46
18:46

Huge Debt Servicing Bill Worries BOU, as Loan Grows to UGX 67 Trillion

This shows a Debt-to-GDP ratio of 45.5 per cent in contrast to earlier estimates of almost 50 per cent, which had been stated by the Ministry of Finance, Planning and Economic Development. During the year, the economy grew to 148 trillion Shillings from 139.7 the previous year.
14:38
14:38

NSSF Midterm Access: Consensus Reached, But Supervision Remains Contentious Parliament 1 6

Muwanga Kivumbi, the Butambala MP says that allowing the management of the fund to go to Finance would mean finance can easily access this money and this is dangerous looking at the state of indebtedness.
17:00
17:00

Few Passengers, Fuel Costs Aggravate Covid-19 Effects on Bus Operators 1 3

The operators say that since the first lockdown, cost of the fuel they consume for a particular route has been increasing, yet they cannot increase the fares beyond the current rates. The numbers have also been affected by the changing lifestyle among Ugandans and economic structure of the country, among others, which have seen people reduce their reasons for travel.
10:10
10:10

Govt Says Relief for Small Enterprises Ready, as It Releases Quarter 2 Funds 3 1

The ministry says that they are ready to start releasing money for the Parish Development operationalization but districts and other Local Government units are not yet ready with the necessary requirements.
19:04
19:04

New 'Know Your Customer' Platform Targets Banks for Financing Continental Trade 1 5

Fahad Ssensuwa, the Africa EXIM bank lead person in East Africa, says the initiative, among other objectives, wanted to bring back international financing institutions that had left the African continent on grounds that it was hard and expensive to get information from the businesses in Africa.
11:48
11:48

Verbatim: Prime Minister's Speech at Inaugural Meeting of President Advisory Committee on Budget

Our vision and that of our President, HE Yoweri Kaguta Museveni is to cause social-economic transformation of the country through creating jobs, especially for our young people and addressing the needs of the 39 percent of our population who are still outside the money economy.
19:20
19:20

Petrol, Diesel Prices Soar to Record High Across Kampala 2 3 Top story

Earlier this year as economies picked up, pump prices in Uganda rose sharply from 3,700 Shillings to 4,150 Shillings per litre of petrol at Shell and Total stations and have been largely stable since April. New tax measures also saw a 100 Shillings increase in the Excise Duty per litre, although this did not take immediate effect on the prices, at least in the first two months of the financial year.
16:54
16:54

Stop Regulator from Taking Our UGX 6 Billion/Year from NSSF, Workers to MPs midterm access 7 1

URBRA which is mandated to regulate and supervise the establishment, management and operation of retirement benefits schemes in Uganda levies a compulsory annual fee paid by NSSF and other retirement benefits schemes of up to 0.0256 % of the Total Asset Value in the statement of financial position.
13:33
13:33

Ugandan Professional Accountants Admit Doing a Lousy Job 1 5 Top story

Prof Kaawaase says that such institutions, including Crane Bank which is still a center of conflict between Bank of Uganda and the bank’s shareholders, always have audit reports with unqualified opinion of the auditors, on such institutions’ financial positions.
17:38
17:38

UNBS Gets Mobile Labs to Enhance Product Testing Speed MTN Uganda 2 1

The testing of the products has often been delayed because of the movement of samples from the production sites to the UNBS testing labs in Kireka, which led to more expenses on the part of the producers.
15:18
15:18

What MTN's Public Offer Means for Ugandans 5 1

With 4,477,808,848 ordinary shares being offered, from the 20 per cent of its share capital, the company says it is looking to raise 895 billion Shillings, which will be about double the cumulative sum raised in Initial Public Offers since June 2000 when the first IPO was done.
06:44
06:44

KCCA Councilors Call for Audit of Private Garbage Collectors 4

According to the contracts, the companies are required to levy a monthly charge of shilling 30,000 for premium services (3 bags per week) and UGX3000 per month for bring-to-truck services. Concessionaires are also required to assess each client objectively depending on how much garbage they generate.
18:16
18:16

Mobile Money is Part of the Deal, MTN Assures Buyers of Shares 1

“You are buying shares into MTN Uganda Ltd., which includes 100% of the MTN Mobile money company," says the CEO. Mobile Money is the second most important source of revenues for the company, accounting for a quarter of total earnings, after voice which brings in half of the company’s revenues. Data accounts for 20% while the remaining 5% is from other digital services, wholesale and device sales.
37 results