Category «Business»

Pioneer buses grounded over Shs 8b debt

The grounding of Pioneer Easy buses is likely to affect city transport, with city dwellers already seen stranded at the various bus stops. This is after the Uganda Revenue Authority impounded all Pioneer Easy Company buses over taxes. The company is said to owe the tax body over Shillings 8 billion in unpaid taxes. All the buses are now parked at their different stages of Manyangwa along Gayaza Road, Nambole and Bugolobi. The Operation is headed by Wasswa Abdusalam the head of marketing and debt collection. Wasswa says they bus company has been given two days to clear the debt or risk having the buses auctioned. Meanwhile John Masanda, the Managing Director of Pioneer Easy Bus Company has blamed their …

NSSF wins Alcon case

The NSSF has won another round in the 40bn shillings compensation dispute with Alcon International. A panel of seven Supreme Court Justices led by the Chief Justice Benjamin Odoki have ruled in favor of the National Social Security Fund. The Chief Justice has allowed an appeal by the NSSF challenging a 40bn shillings award to Alcon International Uganda, that was not party to the signed contract to construct Workers House. The construction company sued NSSF seeking compensation for arbitrarily terminating its contract to build Workers House. In 2009 the Court of Appeal dismissed all grounds given by NSSF, and upheld the lower court’s multi-million dollar award to Alcon. The NSSF then filed an appeal at the Supreme Court, which stopped …

UCC strong on fake phones

The national communications regulator is at cross roads over a decision on fake phones. The Uganda Communications Commission is set to meet with mobile phone operators to agree on the way forward regarding switching off of fake handsets. The UCC plans to deactivate fake phones and sim cards that have not been registered as stipulated by Law. However, the exercise has been faced with stiff resistance especially from the traders. Now the executive director, Uganda Communications Commission Godfrey Mutabazi says the meeting is meant to find ways of promoting both the campaigns with a 60% compliance registered so far. He says the commission is set to honor the deadline which is set for the end of next week.

Inflation rate drops

Inflation has further dropped from 5.3% in December last year to 4.9%in this month. This is according to the new inflation rates released this morning by the Uganda bureau of statistics. According to the director micro economics statistics Dr. Chris Mukiza the decline comes as a result of the decline in the prices of energy, fuel and utilities. Mikiza says the drop is good news to the economy since it shows that our currency is steadily stabilizing. Mukiza however noted that in terms of Centre inflation rates, Masaka registered the highest headline inflation rate of 7.2%from 6.8%in December 2012. This was driven by the high price of alcohol beverages rent and charcoal in the district.

Mobile money to be regulated

The Uganda Communications Commission is set to release guidelines on the management of mobile money services this year. This follows public outcry over lack of a regulatory framework under which mobile money services are carried out, creating a gap for fraud. According to the Executive Director of the Commission Godfrey Mutabazi, mobile money services are a basic necessity in people‚Äôs daily lives that requires immediate attention. Speaking to KFM, Mutabazi says there is need to have guidelines to guard against further fraud as the law is formulated.