Category «Business»

Speaker Kadaga calls for revival of cooperatives

By Moses Kyeyune The Speaker of Parliament Rebecca Kadaga has joined the quest for the restoration of cooperative unions as a measure to boost agro-produce while at the same time setting market prices for agricultural products. The Speaker was addressing the second Uganda Netherlands business convention in Amsterdam last evening where she said that only cooperatives will boost growth of Uganda’s agricultural sector. She says that during the days of cooperatives, the markets and payments were certain and that the country needs to go back to cooperatives. The Uganda Netherlands Business Convention was run under the theme ‘advancing agricultural value addition” and it attracted Ugandan based farmers, agriculture firms in the Netherlands, agricultural research institutions and Ugandan community in the …

URA explains banned sugar saga

By Tom Brian Angurini The Uganda Revenue Authority (URA) has refuted media reports that banned Kenyan sugar has been sneaked into Uganda. Addressing journalists in Kampala this afternoon, Vincent Seruma the Assistant Commissioner Public and Corporate affairs says the said shipment was from Kakira Sugar Works that had been sent to Mwanza, Tanzania but was slapped with a 25 percent tax prompting the exporters to ship it back. Seruma explains that the sugar consignment had to be shipped back to avoid incurring unplanned expenses and currently the 12,000 bags of sugar are being kept at the Jinja pier. He says the governments of Uganda and Tanzania are currently engaged in an inter-ministerial discussion on why Tanzania could slap such a …

Apple is first public company worth $1 trillion

Apple has become the world’s first public company to be worth $1 trillion (£767bn). The iPhone maker’s market value reached the figure in New York on Thursday and its shares closed at a new record high of $207.39. The stock has been rising since Tuesday when it reported better than expected results for the three months to June. Apple beat Silicon Valley rivals such as Amazon and Microsoft to become the first to hit the $1 trillion valuation. Since the iPhone first went on sale in 2007, Apple shares have soared by 1,100% and have jumped almost a third in the past year. The rise is even more astonishing – 50,000% – since the company first listed in 1980. That …

IGG’s directive on all public servants to declare cash at hand questioned

By Ritah kemigisa. The Anti-corruption coalition Uganda has questioned the latest anti-graft guidelines from the inspector general of government. According to the directive, all public servants and leaders will effective march 2019 disclose their cash at hand when declaring their wealth as required by the amended leadership code Act 2017. The coalition’s Executive director Cissy Kagaba saysmuch as the directive is good, it comes along with a number of challenges among them under declaration of the actual amount in their houses. Kagaba further wonders whether the inspectorate has enough skilled personnel to investigate people’s homes and fully unearth the real amount. She is now underscoring the need to probe why people keep their money at home instead of banks.

Parliament fails to block ban on airtime scratch card

By Moses Kyeyune. Parliament last evening failed to block the ban on airtime scratch card. The ban by the Uganda Communications Commission takes effect today the 1st of August 2018 and no sale of airtime on scratch cards will be entertained going forward. The minister of Information and Communications Technology Frank Tumwebaze assured the House that nothing can stop the ban, amidst protest from members. The Speaker Rebecca Kadaga has agreed with the minister that there should be an engagement meeting between MPs and Service Providers for the lawmakers to appreciate the ban. The matter calling for an extension was brought by Busiki County MP Paul Akamba last week.