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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
“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.
The Auditor-General, John Muwanga’s report on the Embassy’s audited financial statements was tabled before Parliament last week. Muwanga’s qualified opinion notes that the finances of the Embassy were not handled well.
Zainab Ssesanga, working with 2Niles Public Relations Agency in Nsambya, says many of the domestic workers who had registered with them are quietly picking their passports, claiming they got other companies to process for their departure. She says therefore, Government needs to re-opening their training centres in order to save the poor girls who are desperately looking for jobs from misled by the bad characters.
In his July 1, 2021 letter, the president noted that projects were being delayed mainly due to corruption in the government procurement processes and delays in the procurement processes by the ministries, departments and agencies and the Public Procurement and Disposal of Public Assets Authority, PPDA.
According to the disbursement list, over Shillings 23.6 million has been sent to Makindye Division Community Cooperative Savings and Credit Society Limited, Shillings 11.56 million to Rubaga, Shillings 25.6 million to Kawempe, Shillings 14.69 million to Nakawa and Shillings 23.7 million to the Central Division Community Cooperative Savings and Credit Society Limited.
Engineer Nicholas Omoding, the head of Investigations at the National Buildings Review Board- NBRB, says that their investigations into collapsing buildings show that a number of developers do not hire qualified architects or engineers.
The United Nations Capital Development Fund, UNCDF further says many innovations are made because the innovators get an idea, without thinking about the market, and so despite an exciting product, it is rendered useless.