Category «Business»

Operation costs top on agenda of bankers’ conference

By Benjamin Jumbe The Prime Minister Dr. Ruhakana Rugunda is today expected to preside over the Annual Bankers Conference to be held in Kampala The one day conference organized by the Uganda Bankers’ Association, will dwell on a range of subject matters affecting the performance and stability of the banking industry at the global, regional as well as national level. The association’s chairman and CEO Stanbic Bank Uganda, Patrick Mweheire says one of the biggest challenges faced by the banking sector today is the high cost of doing business. He says today’s meeting offers the opportunity to discuss how this can be tackled so as to make the sector more profitable. The conference is running under theme; Financial Sector Stability: …

Mobile money agents meet to agree on date for strike

By Ritah Kemigisa rkemigisa@ug.nationmedia.com KAMPALA: Members of the Kampala Mobile Money Dealers Association are today set to hold a general assembly to determine a date to effect their nationwide strike. The agents through their chairperson Matthias Lukyamuzi last week announced they would close down all their outlets for two weeks until government revises its decision on the 1% tax on mobile money transactions. Lukyamuzi says the strike which was supposed to begin yesterday was suspended to join in solidarity the Kyadondo East Legislator Robert Kyagulanyi who had staged a peaceful protest together with musicians to oppose this tax and the daily Shs200 levy on social media. Lukyamuzi says all mobile money agents are expected to attend this meeting which will …

Speaker Kadaga to rule on suspension of mobile money tax law

By Ritah Kemigisa rkemigisa@ug.nationmedia.com KAMPALA: The Speaker of Parliament Rebecca Kadaga is today expected to rule on whether Parliament can put on hold an Act after consulting the House’s legal team. This is after the government rejected demands by Members of Parliament (MPs) to suspend the implementation of the Excise Duty Amendment Act, 2018, that introduced controversial taxes on social media platforms and mobile money transactions. MPs had demanded that the government suspends the Shs 200 daily levy on social media platforms and a 1% charge on mobile money transactions but as a fall-back option, Prime Minister Ruhakana Rugunda told Parliament that the government would table an amendment to the Act on Thursday next week. Amending an Act of Parliament …

Agents suspend strike to support Bobi wine

By Ritah Kemigisa. Mobile money agents under their Umbrella body Kampala Mobile Money Dealers Association have suspended their planned demonstration which was supposed to take place today. The agents through their chairperson Matthias Lukyamuzi last week announced they would close down all their outlets for two weeks until government revises its decision on the 0.5% on mobile money. Lukyamuzi says they suspended their strike to show support to the Kyadondo East Legislator Robert Kyagulanyi who had staged another protest today together with musicians to oppose this tax and the daily shs 200 levy o social media. Lukyamuzi the agents will meet tomorrow to decide on another date when to start their sit down strike.

Seven million coffee seedlings distributed

By Ssebuliba Samuel. Buganda kingdom has boosted of having enhanced citizens response towards agriculture in an effort to broaden the kingdoms tax base. Speaking during Buganda’s Lukiiko yesterday the kingdom’s minister for finance Waggwa Nsibirwa said that in the last financial year, the kingdom through Buganda Cultural & Development Foundation distributed three millions of coffee seedlings across Buganda. He said that in the space of three year coffee seven million seedlings were distributed in addition to Banana sackers. He said that with all indicators, it’s visible that Buganda is on the road to economic recovery