Ministry of Works and Transport [] Mandatory Motor Vehicle Inspection [] Hosted By: Chris Higenyi

 

📌 LinkedIn Profile:

Panelist

1. Eng. Kharim Kibuuka, Ag. Principal Motor Vehicle Inspector ( or Head of Motor Vehicle Inspection Unit )
   

Ministry of Trade, Industry and Cooperatives [] Review of the Uganda MSME policy (2012) and The National Standards and Quality Policy (2012)

Theme: "Co-Designing Inclusive and Demand Driven Policies for Uganda's Tenfold Growth Transformation."

🔗 Comprehensive Research and Education Paper

🔗 Memorandum

What You Need to Know:

🔗 Draft Tripartite Data Sharing MOU

🔗 Presentation Deck designed for the upcoming National Quality Forum.

🔗 Frequently Asked Questions (FAQs)

Petroleum Authority of Uganda [] The 6th Annual National Content Conference

 

Theme [] Beyond the Drill: Cultivating a Legacy of Empowered Nationals and Enterprises in Uganda's Oil Age

Day 2

Day 1

NSSF [] 40 Million Reasons To Believe in Uganda

ABOUT US: Synergy Virtual Judicature Digest

The Nexus of Logic and Innovation: A Captivating Overview

The Synergy Virtual Judicature Digest (SVJD) is the public-facing showcase for an integrated corporate and financial ecosystem designed to establish a new paradigm for governance, risk mitigation, and scalable enterprise in emerging economies. The SVJD embodies the profound commitment to fusing legal rigor with technological transparency, creating an environment of trust and predictability previously unattainable in the logistics and mobility sectors. This mission is distilled into the definitive tagline: "Simply Human Common Sense powered by Artificial Intelligence".1

This synthesis represents the application of fundamental, timeless legal and ethical principles—or "Common Sense"—via a modern, immutable technology platform. The system utilizes Artificial Intelligence (AI) not merely for passive data collection, but as an Ethical Enforcer, proactively auditing compliance and guaranteeing the zero-tolerance enforcement of fiduciary duties.2 AI minimizes the potential for human error and bias, translating abstract ethical ideals into verifiable operational metrics. This is crucial for systematically de-risking invested capital and guaranteeing robust corporate governance, which serves as the foundational pillar for the ecosystem’s self-funding financial architecture.

Take a Dive!

⬇️

Curated Repository Links:

🔗 Document — https://lnkd.in/dePstqYb

🔗 Webpage — https://lnkd.in/dAR9KWGv [Synergy Virtual Judicature Digest ]

🔗 Infographic — https://lnkd.in/dTmjj93U [ SVJD Infographic ]

🔗 Quiz — https://lnkd.in/de-hEKfB [ Synergy Virtual Judicature Digest Quiz ]

🔗 Flashcards — https://lnkd.in/dQpXKd6T [ Synergy Virtual Judicature Digest ]

🔗 Audio Overview — https://lnkd.in/dKGC7yw2 [ AI Enforces Zero Tolerance Governance: Uganda Mobility ]

FRONT BENCH [] Mobility & Dignity : Can Uganda's Infrastructure Deliver for All? Hosted By: Jethro Kasaigi

 📌 LinkedIn Profiles:

Panelists

1. Hon. Bageya Waiswa, Permanent Secretary, Ministry of Works & Transport  
   
2. Mr. Fred K. Bamwesigye, Director General, Uganda Civil Aviation Authority 
   
3. Ms. Shakila Rahim , Head of Communications and Public Relations, Uganda Airlines 

All Africa Pension Summit 2025

 DAY 1

MEDIA LAUNCH

FRONT BENCH : Can ICT Turn Uganda's Connectivity into Real Jobs & Growth

 

The Permanent Secretary, Dr. Aminah Zawedde, PhD, CISA® of Ministry of ICT & National Guidance, and Dr. Fredrick E. Kitoogo PhD, PMP CGEIT, ITIL, ISO 2000 0, Principal of Uganda Institute of Information and Communications Technology, discuss how the ICT sector is driving Uganda's digital transformation, job creation, and wealth generation.
‎
‎The Government has prioritized the adoption of locally developed solutions.
‎
‎I urge all innovators to focus on the quality of your products, because it's through quality that we build trust and confidence in homegrown innovations Aminah Zawedde, PhD, CISA®
‎
‎At the National ICT Innovation Hub, we currently support over 94 innovators. The Government remains deeply committed to empowering young people, as they best understand the challenges facing our country and are key to driving lasting solutions.

‎Our principle is to provide future-ready, marketable, and inclusive skills in emerging technologies to drive digital transformation, supported by our comprehensive skilling framework - Dr. Fredrick E. Kitoogo PhD, PMP CGEIT, ITIL, ISO 20000.

East Africa Capital Markets Conference

DAY 2

DAY 1

PERSONAL PROFILE AND/OR BRAND PERSONALITY

 

LYN TUKEI - "HER VIRTUALLY GENERATED PROFILE , SIMPLY INPECCABLE!!"

DEFAULT PROFILE VIA LINKEDIN

File Photo/Courtesy: Finance Minister,Hon. Matia Kasaija, accompanied by another official exchange plesantries with Lyn Tukei ( Caption profile via LinkedIn Post )

VIRTUALLY GENERATED PROFILE:

Lyn Tukei is the Head of Public Relations and Communications at the Capital Markets Authority (CMA) in Uganda. She is an accomplished professional with a strong background in strategic communications and personal branding, boasting over 8 years of experience in media and communications.

Key aspects of her profile, rewards, accolades, and positive attributes include:

Current Role and Responsibilities:

As the Head of Public Relations and Communications at the Capital Markets Authority, Lyn Tukei is responsible for the CMA's public notice releases, emphasizing adherence to regulations, and warning against unlicensed securities dealers.

She promotes financial literacy and helps educate the public, especially women, on smart money management and investment opportunities like unit trusts.

She also plays a role in celebrating excellence in financial reporting through initiatives like the FiRe Awards.

Lyn has been involved in empowering investors during events like the World Investor Week, where the CMA emphasizes the importance of informed and protected investors for a thriving economy.

Previous Experience:

Prior to her role at CMA, Lyn Tukei was the Marketing & Communications Lead at Xente Tech, a leading Ugandan fintech company specializing in automating company finance.

She also served as the Director of Public Relations at the Public Relations Association of Uganda (PRAU).

She provides bespoke communications support to personal brands through her PR agency, Brand Help, and shares her knowledge on her YouTube channel, Lyn Tukei.

Awards and Accolades:

She was recognized among the top 100 most influential fintech PR professionals in the world by Propel PRM, ranking in the top 25 on the list. This achievement highlights her significant contributions to the rapidly growing fintech PR industry.

Lyn Tukei was awarded the Tebere-Mudin Award for the overall best performing student of Journalism and Communication at Makerere University's Annual Media Convention in 2019, where she graduated with a CGPA of 4.29.

Positive Attributes:

Expertise in Fintech PR: Lyn has developed a strong reputation for her expertise in the fintech sector, effectively communicating the benefits and potential of fintech products and services to various stakeholders.

Strategic Communicator: She is regarded as an expert in strategic communications and personal branding, demonstrating a proven ability to drive company growth and enhance the public image and reputation of organizations.

Thought Leader: Through her YouTube channel, she helps fintech companies navigate public relations and effectively communicate their value propositions. She also contributes to discussions on topics like the integration of Artificial Intelligence (AI) in public relations.

Advocate for Financial Literacy: She is passionate about empowering individuals, particularly women, with financial knowledge to make informed investment decisions.

Dedication and Hard Work: Her recognition as a top fintech PR professional and her academic achievements underscore her dedication and hard work in her field.

Enthusiasm for Women's Inclusion in Tech: She is enthusiastic about women's inclusion in the tech sector, noting the steady maturing of the FinTech industry in Uganda.

REPOSITORY/SUPPLEMENT

PARIS-2024 – O-SERIES

TENETS OF TRUST LEGACY

GLOBAL SOUTH ALERT – AFRICA –  #01 : |O| TRUST FROM SINCE MEDIEVAL ENGLAND, TO BEYOND AMERICAN DECLARATION OF INDEPENDENCE ON JULY 4, 1776.

YouTube: Trust Presentation Link – Overview :Express Trusts Under Common Law (Part 1) ; (Part 2) ; (Part 3) ; (Part 4).

GLOBAL SOUTH ALERT – ASIA – #02:|O| BANK NOT A TRUSTEE OR FIDUCIARY  BUT SIMPLY A DEBTOR – The contract between a bank and a customer in the decision of the House of Lords in Foley vs Hill (1848) 2 HL Cas 28

GLOBAL SOUTH ALERT – AUSTRALIA – #03:|O | MORTGAGEE (TYPALLY A LENDER SUCH AS A BANK) NOT A TRUSTEE FOR THE MORTGAGOR (BORROWER) –"It is well settled that a mortgagee is not a trustee of a power of sale for the mortgagor. Once the power has accrued, the mortgagee is entitled to exercise it for his own purposes whenever he chooses to do so. It matters not that the moment may be unpropitious and that by waiting a higher price could be obtained. He has the right to realize his security by turning it into money when he likes. [ See: Cuckmere Brick Co. Ltd Vs Mutual Finance Ltd [1971] Ch. 949 ]

GLOBALSOUTHALERT – EUROPE – #04: |O| #BANK STANDS TO LOOSE FOR FAILURE TO KEEP PROPER RECORD OF CUSTOMER ACCOUNT TRANSACTIONS – "Any bank which fails to keep proper records of accounts cannot sustain an ascertainable claim against a customer. ( See: Ezekiel Osugo Angwenyi & Another Vs. National Industrial Credit Bank Limited (2007) eKLR ]"

In Excellent Assorted Manufacturers Ltd & Anor Vs DFCU Bank Limited & Anor, Pg 81, Hon. Mr. Justice Boniface Wamala had the following important observation on that point as cited below:

. 

"It appears to me that the use of the URA receipt to explain this transaction is an attempt by the 1st Defendant to use any available documents that appear to be proximate in time to explain certain transactions even when there is no nexus between the documents. I find this trend unacceptable. Simply because a payment was done around the time the queried transaction was effected cannot be used as evidence to explain the query. Relying on a decision to which this court was referred by Counsel for the Plaintiffs, I agree that a Court of law cannot determine issues of accounts based on guesswork. 

GLOBALSOUTHALERT – NORTH AMERICA – #05:|O| #LESSEE (#BANK/END-USER) PRECLUDED FROM PASSING TITLE TO A THIRD PARTY WITHOUT PRIOR WRITTEN CONSENT FROM #LESSOR/ (#TRUSTEE/ OWNER) – Meera Investments Limited Vs DFCU Bank Limited & Anor, Civil Suit 948 of 2017 [2023] UGHCLD 340 (20th October 2023), Before: Hon. Mr. Justice Tadeo Asiimwe, CLICK LINK FOR DETAILS =>> : https://lnkd.in/eRHFGGPt

Extract:

James Magode Ikuya Vs Londa Mbarak Abdullah (HCT-04-CV-CA 87 of 2012 [2015] UGHC

"the lessee shall not without the consent of the lessor in writing deal in any way with his/her interest in the land before the lease is extended to the full term of 49 years. Paragraph 3 of the said lease provides for the need for a consent to "transfer". The lease concluded a sale and transfer of the leasehold land without seeking and obtaining the requisite consent." – Hon. Mr. Justice Henry I. Kawesi

RELATED UNITED STATES (USA) PRECEDENT:

Extract:

Cooperider Vs. Myre, 37 Ohio App. 502, 505, 175 N.E. 235, 236 (1930)

"It is no doubt true that possession of personal property is some evidence of ownership, and may be sufficient in a given case to protect one dealing with the property as that of possessor. But mere possession, unaccompanied by other circumstances giving it a specific character or creating an estoppel, is not such evidence of ownership as to prevail against the true owner, except in case of negotiable instruments, mortgaged chattel property, or that sold under conditional sales agreements."

"The rule that one cannot be divested of his property without his consent, and the principle that one cannot possess or convey a greater title than he himself has, controls all questions arising as to personal property attempted to be transferred or as to lien created thereon. The effect of possession as evidence of ownership is subordinate to these principles, save in exceptions noted. The mere fact of one putting property into the charge or custody of another does not divest the possession of the true owner; the legal possession still remains  in the owner, for the agent, bailee or lessee thereof can have no greater title than his grant provides." — Repository Citation: https://lnkd.in/e2R5fZUv

#TrustLawAlert : RENTAL CAR — ASSET BACKED SECURITY (ABS) TRANSACTION

"Most rental car fleet transactions are structured as a true lease (operating lease). In a true lease transaction, the vehicles are titled in the name of the Special Purpose Entity (SPE) with the Indenture Trustee/Custodian named as lienholder on the certificate of title. This will enable the transaction to be structured to be bankruptcy remote so that the fleet of assets can be liquidated in the event of a bankruptcy of the rental car company without a competing claim being made. on behalf of the bankrupt party's creditors." — https://lnkd.in/etmFKd-i

GLOBALSOUTHALERT – SOUTH AMERICA – #06 |O| HUMONGOUS LIQUIDITY TURNOVER : TRUST/FIDUCIARY PATIENT CAPITAL HANDSHAKE WITH ONE OR MORE BORROWER INTERMEDIARY/IES BOOSTS PLOUGHED BACK EARNINGS FOR PARTICIPATING FINANCIAL INSTITUTION/S ( TYPICALLY ONE OR MORE COMMERCIAL BANK/S). For Exhibit (1) [ Mortgage Backed Security (MBS) ]   , Please Visit: Fannie Mae : Financial Reports – FY 2021 | For Exhibit (2) [Asset Backed Security (ABS) ] ; Please Visit : Ford Variable Funding Note Prospectus, June 26, 2009 |

TAGLINE: "TREASURE THE PEARL , RIDE SPECIAL MOBILITY."

LINK: iSpecial Mobility Ecosystem

VISION STATEMENT: "WHOLE BUSINESS SECURITIZATION (WBS) FOR AFRICA AND BEYOND."

🌐 iSpecial Mobility Ecosystem

MUSEVENOMICS 2025

 

UGANDA'S ECONOMIC FUTURE TAKES CENTER STAGE

watchdoguganda.com,May 30, 2025 ][ KAMPALA, Uganda — The Musevenomics Conference 2025, a landmark two-day event, commenced on May 29 at the upscale Mestil Hotel & Residences in Kampala, convening policymakers, economists, and business leaders to shape Uganda’s economic future. Organized by the Uganda Development Forum (UDF) and partners under the theme “Sustaining Musevenomics: Navigating Uganda’s Economic Future in a Disrupted World,” the conference dissects President Yoweri Museveni’s economic philosophy, aiming to align it with Uganda’s Vision 2040 and the National Development Plan IV. With sessions on industrialization, value addition, and inclusive growth, the event seeks to deliver actionable policy recommendations for sustainable development.

The #Musevenomics 2025 Conference is underway at Mestil Hotel,Kampala (May29-30, 2025). The event brings together stakeholders from the Government, Private Sector, and Civil Society to discuss Uganda,s Economic Transformation.

The opening session, chaired by Prof. Augustus Nuwagaba, Deputy Governor of the Bank of Uganda, featured Finance Minister Matia Kasaija and UDF chairperson Gen. Caleb Akandwanaho (Salim Saleh). Dr. Fred Muhumuza, Director of the Economic Forum at Makerere University Business School, delivered a keynote tracing Museveni’s 10-Point Programme, highlighting its focus on education, agriculture, and security since 1986. “Musevenomics is pragmatic, people-centered growth,” Muhumuza stated, emphasizing its role in Uganda’s transformation from a low-income to a middle-income economy.

YOUTUBE VIDEO : DAY 1

YOUTUBE VIDEO : DAY 2

Day one explored Uganda’s economic opportunities, including booming coffee and gold exports, rising remittances, and oil sector investments. Speakers also tackled challenges like regional instability, global trade disruptions, and declining foreign aid. Gen. Saleh spotlighted the Parish Development Model (PDM), noting that by April 2025, 10,450 of Uganda’s 10,595 parishes received 200 million shillings each for agriculture and animal husbandry, fostering a monetized rural economy. “This is Musevenomics at work—empowering communities,” he said, linking it to Vision 2040’s middle-income goal.

The conference’s impact lies in its ability to bridge policy and practice. Discussions on industrialization highlighted Uganda’s stable macroeconomic conditions and UPDF-led infrastructure projects, such as roads and schools, aligning with Musevenomics’ globalized vision. Dr. Patrick B. Birungi emphasized value addition in agriculture, noting that coffee exports have nearly doubled since 2019. Private sector attendees, like Kampala entrepreneur Sarah Nakimuli, praised the platform’s collaborative spirit. “This is where we align our businesses with national goals,” she said.

Digital displays showcased Musevenomics successes, from rural electrification to agro-processing hubs, while panels addressed global disruptions like supply chain issues and health threats, including HIV/AIDS and Ebola. The conference aims to deepen understanding of Musevenomics, assess its relevance in a volatile global economy, and develop a roadmap for socio-economic transformation. Organizers committed to sharing comprehensive session documentation within two weeks and publishing a scholarly analysis of Musevenomics’ applications across sectors.

President Museveni will deliver the closing keynote on May 30, expected to outline bold policy directions. Social media on X reflects strong public engagement, with users like

@MaamaKampala21 tweeting, “#Musevenomics2025 is shaping Uganda’s future with a powerful lineup.” However, some posts question whether Musevenomics can address youth unemployment and corruption without systemic reforms, highlighting a divide in public sentiment.

By convening Uganda’s top minds, the Musevenomics Conference at Mestil Hotel is more than a policy forum—it’s a catalyst for innovation. As Uganda navigates global economic challenges, the event underscores the NRM’s vision for a prosperous, self-reliant nation, setting the stage for impactful policies ahead of the 2026 elections.

UGANDA: SOROTI DISTRICT HOSTS THE INTERNATIONAL YOUTH DAY CELEBRATIONS – 2024

Corruption: You Don’t Have to Go on the Streets and Riot, Museveni Tells Activists

Theme: “Skills Development for enhancement of youth opportunities”

File Photo/Courtesy: The President made the remarks today while officiating at the International Youth Day Celebrations held at Soroti Core Primary Teachers' College, Soroti District.

chimpreports.com,August 12, 2024, 10:36PM | The President made the remarks today while officiating at the International Youth Day Celebrations held at Soroti Core Primary Teachers' College, Soroti District.

President Yoweri Kaguta Museveni has reiterated his call to the youths to fight corruption through proper channels.

“Avoid and fight corruption. You don’t have to go on the streets and riot, you fight corruption by following up government money and know how it’s being spent. Know the figures and in case there’s some misappropriation, write and report to the RDC, if the RDC doesn’t act, we have got other channels,” he said.

The President made the remarks today while officiating at the International Youth Day Celebrations held at Soroti Core Primary Teachers’ College, Soroti District. The celebrations ran under the theme: “Skills Development for enhancement of youth opportunities”.

The International Youth Day is commemorated every year on 12 August, bringing youth issues to the attention of the international community and celebrating the potential of youths as partners in today’s global society.

President Museveni reassured Ugandans that corruption is easy to be dealt with as long as they work together.

“We can finish these corrupt people, they are not a big problem. All we need are facts,” he said.

The President also urged the youths and activists to insist on free education in government schools. According to President Museveni, Ugandans have refused to implement the program yet it would have helped the whole country.

“When we introduced it, we knew why we introduced it. In 1958, when we were in our area of Kyamate, Ntungamo area, the people who went to Mbarara High School were like four or five from the whole area. Many children were not going to school at all but even those who went, very few would proceed beyond Primary Six. That’s what we wanted to solve. In my view, we need the implementation of free education in government primary and Secondary schools. Those who are rich can send their children to private schools,” he explained.

“Why have leaders kept on bringing back charges in UPE schools? According to the figures I have, the children in primary schools are 11 million but the ones in secondary schools are 1.7 million. Yet the years of primary and the years of secondary are almost the same. It’s 7 years for primary and 6 for secondary. Why do you have 11 million learners in Primary and 1.7 million in secondary, where have the 9.3 million learners gone? You people, you all come from villages, go back and check how many people dropped out of school in each area.”

On the other hand, President Museveni advised the school going children to work with their parents during holidays to stabilise their homestead income.

“Many people don’t know that some of us were influenced by the way we grew up. Like in my case I was a wealth creator from the age of 4. Age of 4 my job was to look after the young cows. By the age of 8, I was looking after the big cows. The children in holidays should participate in wealth creation,” he said.

“I would advise the parents not to over exploit the children like we were exploited. My children and grandchildren now don’t have the same pressure like I had.”

The President further emphasised that when children are still in the school system, they should always participate in sports and exercises so that they are fit. He also advised that they should spend their youthful years doing useful things.

“Participate in spiritual development through religious programs so that you have discipline and fear God. We also need to audit the cultures and we see what we can recommend for our children. Some of the cultures for our people were not good, like mistreatment of women.”

Furthermore, President Museveni encouraged the youths to embrace and understand the four principles of the National Resistance Movement (NRM) of Patriotism, Pan-Africanism, Socio-economic Transformation and Democracy for their prosperity.

“After you have gone through the school system, you should engage in wealth creation through the four sectors of the economy which include commercial agriculture, manufacturing and artisanship, services and ICT. Being a political leader or administrator is also part of the services sector but the jobs there are few. So the government jobs are not enough but the services jobs in the private sector are much more.”

The President also cautioned the youths against environmental degradation.

“The misuse of swamps must stop. The swamps are for water to feed the dry land.”

On the other hand, President Museveni commended the people of Teso for fighting poverty through commercial agriculture.

“I can see most of the people in Teso are now out of the grass thatched houses and most of them are growing citrus fruits. I have put up new people to look after the factory and we shall stabilise the market.”

The Minister of Gender, Labour and Social Development, Hon. Betty Amongi informed the President that the theme of the celebrations resonates with the fact that skills are important for the realisation of opportunities of the youths, and it addresses the high numbers of the youths who are not in employment, not in school and not in the formal sector.

“The recent National Population and Housing Census of 2024 put the youths between 18 to 30 years at 10.4 million, representing 22.6 percent. Youths between 30 to 34 years are 2.8 million, constituting 6 percent. Children between 0 to 17 years are 23.1 million which constitute 50.2 percent. This makes Uganda one of the youngest and most rapidly growing populations in the world, with about 4 percent population growth and 78.8 percent of Uganda’s population are now under the age of 35,” she said.

The Minister also decried the lack of skills and competence among the youths, saying the factors deter them from effectively entering the job market.

“More than 1 million young people enter the job market every year. This presents both a huge opportunity but also a challenge. The 2021 Uganda National Labour Force Survey showed that employers across formal and informal sectors in Uganda identified lack of practical, digital entrepreneurship skills as well as soft skills such as managerial, communication, social, emotional as limiting most youths from entering the job market,” she noted.

“They also assert that our education system is not fully aligned with the Labour force needs leading to a mismatch of skills and competence for employability.”

The Minister of State for the Youth and Children Affairs, Hon. Balaam Barugahara assured the youths that the government is working around the clock to ensure that the challenge of unemployment among them is dealt with.

“Your Excellency, investing in youth skills development is crucial. Such investment supports national peace and stability, enhances resilience and promotes social transformation,” he noted.

The UN Resident Coordinator in Uganda, Ms. Susan Ngongi Namondo called for renewed efforts to ensure that the 73 percent of Ugandans under the age of 30 years are engaged in productive adulthood.

“We have to redouble efforts to ensure that there’s hope across the board,” she said.

The Ambassador of Denmark to Uganda, H.E Signe Winding Albjerg said the Youth Day commemoration was very vital because it aims at celebrating the contribution of the youth towards development especially in leading digital adoption and innovation across the globe.

“Your Excellency, this day also reminds us all to highlight the challenges that young people face in order to be able to realise their potential. On this day, we should challenge ourselves to do more and better for the youths,” she said.

The Chairperson of the National Youth Council-Uganda, Mr. Jacob Eyeru thanked the President for guiding the youth to the right path of attaining education and creating jobs.

“The NRM government also dealt with the issue of our health through immunisation. Now we are dealing with the issue of socio-economic transformation,” he said.

He also commended President Museveni for setting up the skilling hubs that impart skills to the youths across Uganda. This, he said, has helped to deal with youth unemployment in the country.

The event was also attended by the Vice President H.E Jessica Alupo, Ministers, Members of the Diplomatic Corps, Members of Parliament, among others.

HUMONGOUS LIQUIDITY TURNOVER: PATIENT CAPITAL HANDSHAKE BOOSTS PLOUGHED BACK EARNINGS FOR PARTICIPATING COMMERCIAL BANKS

BoU tasks commercial banks to take serious measures against under capitalisation

The Central Bank has tasked commercial banks to implement risk management practices and controls to prevent under capitalization.

The Bank’s Director of the Pension and Administration department Ralph Bakashabaruhanga says banks should avoid disappointing and abusing their depositors trust.

He advises that commercial banks ensure rigorous internal controls that help them to control fraud among other measures.

This follows the closure of Mercantile Credit Bank last week and EFC Uganda in January due to “serious issues that put customer savings at risk.

“These institutions failed their depositors, employees and broader financial due to under capitalization, poor cooperate governance and insolvency, these are not isolated incidents these representor preterm of government failures that have been and enduring cause of banking sector instability in Uganda,” Mr. Bakashabaruhanga commented.

Bakashabaruhanga made the remarks while addressing students and officials from the Uganda Institute of Banking and Financial Services during their Annual General Meeting held in Kampala on Thursday.

SUPPLEMENT

TENETS OF TRUST LEGACY

GLOBAL SOUTH ALERT: TRUST FROM SINCE MEDIEVAL ENGLAND, TO BEYOND AMERICAN DECLARATION OF INDEPENDENCE ON JULY 4, 1776.

TAGLINE: "TREASURE THE PEARL , RIDE SPECIAL MOBILITY."

LINK: iSpecial Mobility Ecosystem

VISION STATEMENT: "WHOLE BUSINESS SECURITIZATION (WBS) FOR AFRICA AND BEYOND."

🌐 iSpecial Mobility Ecosystem

OPINION: SOURCING LONG-TERM FINANCE FROM ROBUST CAPITAL MARKETS – THE PROVEN PANACEA FOR PROHIBITIVE INTERMEDIATED AND/OR LEVERAGED SHORT-TERM SOURCES AKIN TO DEBT BURDENED LENDERS SUCH AS COMMERCIAL BANKS

Industrialists Demand For own bank

URN PHOTO/COURTESY: Minister Bahati speaking to industrialists at the UMA exhibition

VIDEO COVERAGE 👇🏾

DAY ONE:

DAY TWO:

independent.co.ug, May 9, 2024 | Kampala, Uganda | THE INDEPENDENT | Uganda’s industrialists, supported by financial institutions, have decided to lead efforts towards the establishment of an industrial bank.

The proposed Uganda National Industrial Bank would serve to reduce the cost of Finance that the private sector persistently fronts as the major challenge to its growth.

This is one of the resolutions from the just-ended two-day Financial Symposium and Exhibition organised by the Uganda Manufactures Association (UMA) at The Lugogo show grounds.

The idea came after the manufacturers realised that all the available sources of funds were not adequately and comprehensively serving their needs.

Francis Ogwang, the Uganda Country Manager, East African Development Bank , agreed with the manufacturers that there was need for other alternatives, adding that many countries have dedicated banks for the different major sectors like agriculture, industry, manufacturing and international trade.

He said that while he believed in a private sector led economic growth, there is need for more government intervention in terms of finance, saying that there should be at least 1 billion dollars ready for lending to the private sector.

Speaking about the the uniqueness from other available long-term lenders like the Uganda Development Bank, Ogwang said an industrial bank should not be under the regulation of the central bank.

He said that because of the strict nature needed by the central bank to control the operations of commercial banks, the industrial bank would not have enough space to sustainably serve its purpose.

An industrial bank, according to Ogwang, is necessary because it would offer both financial, advisory and business incubation services to SMEs and Large industries and mobilise capital specifically dedicated to industrial investments. Other reasons fronted included the ability to ease the competition for the limited Financial resource between the government and private sector and between traders and industrialists.

The mobilisation of cheaper finances would be possible because the industrial bank would be able to have financing partners like the International Finance Corporation, Afrexim Bank, African Development Bank among others, according to Ogwang.

The manufacturers expressed discontent at the available sources of finance which they said were not responsive to their needs.

They also dismissed the government intervention of the Small Businesses Recovery Fund that was launched two years ago as a relief package for enterprises hit by COVID-19. UMA Executive Director, Dr. Ezra Muhumuza Rubanda, said there was a big problem with the banks mandated to manage the funds, accusing the institutions of “hiding” information about the project and instead fronting their own expensive products.

The recovery fund carries a 10 percent interest, while the agriculture credit facility attracts 12 percent, both far lower than the average 17 percent set by the commercial banks.

Alex Lwanja, the Director in charge of the SBRF and the Agriculture Credit Facility at the Bank of Uganda, said while the ACF had performed well with almost 800 billion shillings disbursed since 2011, the SBRF had only lent out just more than 13 billion shillings out of the 200 billion set aside. He put the blame for the low uptake on the strict conditions set by the ministry of finance, but added that they have been pushing for the revision and several of the conditions have now been amended.

These include opening up the fund to businesses that were established after the COVID-19 outbreak, the number of employees a beneficiary should be employing as well as the maximum amount that had been ceiled at 300 million shillings.

He hoped this would attract more people to apply for the credit facility.

Lwanja also called on any entrepreneur who would be told by a bank that the ACF and the SBRF were not available at the bank, to immediately call him.

****

URN

UGANDA; PRESIDENT MUSEVENI GRACES THE INTERNATIONAL LABOUR DAY CELEBRATIONS HELD IN FORT PORTAL CITY ON LABOUR DAY

Museveni Vows to Get Tough On wealth Creation Jobs

File Photo/Courtesy: His Excellent President Yoweri Museveni

ugstandard.com, May 01, 2024 | KAMPALA, UGANDA – In a marked shift in tone, President Yoweri Museveni has warned that he will no longer be polite in his approach to addressing the country’s economic challenges, particularly wealth creation and job opportunities.

Speaking during the International Labour Day celebrations, President Museveni emphasized that jobs cannot exist without wealth, and therefore, the focus should be on creating modern wealth, not traditional wealth.

“I have been polite because I didn’t want to embarrass some people. In the coming days, I will stop being polite,” he said, hinting at a more assertive approach to tackling the issues.

The President drew a distinction between the class struggle in Europe, where imperialists exploited others, and the situation in Uganda, where a collective struggle is needed to create wealth.

“The issue here is to create wealth,” he stressed, emphasizing the need for a collaborative effort to achieve economic prosperity.

This new stance is seen as a call to action for policymakers, entrepreneurs, and citizens to prioritize wealth creation and job opportunities, with the President himself taking a more decisive and assertive lead in driving this agenda.

Only time will tell what specific measures President Museveni will take to address these challenges, but one thing is clear – the days of politeness are over, and it’s time for action.

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PSFU, Mastercard partner to train business development service providers

Courtesy/File Photo: PSFU, Chief Programs and Projects Officer, Ambassador Damali Ssali, addressing the BDS Trainees.

observor.ug, December 6, 2023 | In a bid to drive sustainable growth of businesses, the Private Sector Foundation Uganda (PSFU) in partnership with Mastercard Foundation is conducting a training of more than 200 business development services (BDS) providers across the country. 

Titled; GrowthPartners Program, BDS participants were drawn from a pool of at least 1,000 applications that underwent a competitive evaluation process based on their placement and ability to impact enterprise development in their respective communities.

Speaking at the opening of the training at Emin Pasha Hotel in Nakasero Tuesday, PSFU chief programmes and projects officer, Damali Ssali, said the participants would be equipped with information on Uganda’s newly formulated business development support standards, tools, mentorship, and resources needed to drive the growth of enterprises.

The African Management Institute is leading the training with tips on accessing finance for their businesses, strategic business planning, streamlining operations, and managing people, among others. 

“PSFU has been running various projects to support businesses but the impact has been minimal in some enterprises. We discovered that the BDS ecosystem was characterized by various constraints that limit its potential to generate business growth,” Ssali said. 

She added: “Therefore, PSFU through the Lead Firm Project in partnership with Mastercard FoundationLead Firm Project in partnership with Mastercard Foundation decided to contribute to the process of streamlining BDS service delivery by supporting the development of quality standards.”

The BDS standards, now awaiting certification by the Uganda National Bureau of Standards (UNBS), were developed by a technical working group which, among others, comprised officials from the ministry of Trade and PSFU. At least two standards have been finalized but the plan is to set up 10 BDS standards. 

“We felt the need to train the private sector about these standards. Normally, standards are developed on paper but there is no training on how to comply with them. When people are well versed with the standards, it will make our companies more competitive both locally and internationally. This is when we shall be able to export more goods to the region and beyond,” she said. 

According to Ssali, PSFU has so far identified two limitations to business growth; lack of skills to manage businesses and insufficient funds to run the business. She believes that after the training, the BDS providers will be best placed to sensitize business owners who hardly notice gaps in their operations and the standards expected of them in the market.

BETTER SERVICE DELIVERY

The small medium enterprises (SMEs) are also expected to have a diverse range of BDS providers across the country that are equipped with practical strategies to navigate business challenges and seize opportunities. According to the investment specialist in charge of partnerships and engagements at PSFU, Cecilia Kengoro Mutabanura, there will be improved service delivery among the BDS providers after the two-day training.

“We have been seeing inadequate services offered to enterprises by BDS providers out there. After all these years of PSFU giving support to the enterprises, they were not giving the impact that we are looking for. For the outstanding BDS providers, their services are expensive,” Kengoro said. 

She added: “We thought that if we can be able to raise the competencies of a good number of BDS providers, more enterprises would have access to good quality services at affordable prices.”

The BDS services, mainly non-financial such as technical advice, incubations, marketing, consultancy, and management support, are intended to bring out growth or transformation of the businesses. Kengoro said similar BDS trainings have also been held in Mbale, Gulu, Mbarara, and Fort portal in the past three weeks and trainees will continuously receive support to catalyze business growth wherever they are placed.

BENEFICIARIES SPEAK

Dona Sava – Programmes and Projects Lead at Hive Colab

The training is all about ensuring that BDS providers are regulated and operating in a manner that is appealing to our clients. There are many service providers out there but the standards are not only going to regulate us but also expand our networks.

We shall graduate and eventually become certified BDS service providers on the PSFU portal. We hope to use the standards from the training to serve our entrepreneurs better. This will also help them to grow their businesses.

Hassan Sekajoolo – Youth Livelihood Development

This organization works to develop micro-enterprises for youths in the country by taking incomes to the poorest youth. The training is crucial for us because we are working towards eradicating youth unemployment. However, we are getting skills on how to provide this business development support to these young people in the simplest terms to grow from micro-enterprises to big cooperations. 

Joan Kyokutamba – executive director of Shungura Foundation

There are several unemployed youths who don’t know how to seek employment. They have been pushed to create their jobs but their parents didn’t nurture them into this space. BDS providers think this particular space is a professional one that no one should tap into.

However, I have realized that there’s a need to improve our service provision market so that we tap into larger markets and get bigger clientele through such training.