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Articles by Rainher Ojon
Transeast invests Shs3.6b in modern commercial heavy hauling
Transeast invests Shs3.6b in modern commercial heavy hauling equipment Tuesday February 11 2020 Ms Joy Kabatsi, the State Minister for Works, launches the commercial heavy hauling equipment last week. Photo by Rainher Ojon In Summary Bonus. Establishing commercial presence for such heavy duty hauling operations within Uganda, also means “the economy will henceforth manage to retain some financial income from such services, until now mainly sourced from Kenya, South Africa and Asia,” he added.
Speculators failing mining sector - Chamber of Mines
In Summary License holders. As of August 9, according to a brief in the mineral sub-sector authored under the Mining and Mineral Policy for Uganda 2018, it was noted that 325 exploration licences, 105 location licences, 42 mining leases and three retention licences were valid. Advertisement By Rainher Ojon Speculators holding mineral licences have weakened prospects of attracting serious investors, according to Mr Elly Karuhanga, the Uganda Chamber of Mines and Petroleum chairman.
Pipeline deadlock disruptive - CNOOC
Pipeline deadlock disruptive - CNOOC Thursday September 26 2019 Stuck. CNOOC says it is currently stuck on commencing oil fields development. FILE PHOTO In Summary Difficult. China National Offshore Oil Corporation (CNOOC) says the deadlock has made it difficult as one of the Joint Venture Partners to make final investment decisions.
Pipeline deadlock disruptive - CNOOC
Pipeline deadlock disruptive - CNOOC Wednesday September 25 2019 Stuck. CNOOC says it is currently stuck on commencing oil fields development. FILE PHOTO In Summary Difficult. China National Offshore Oil Corporation (CNOOC) says the deadlock has made it difficult as one of the Joint Venture Partners to make final investment decisions.
PPPs can reduce our public debt - Oundo
In Summary Four years ago, the Public Private Partnership (PPP) law was passed, with high expectations among others that it should allow for preparation and financing of critical infrastructure and such related projects between government and the private sector.
Nine mini hydro dams in the pipeline - UECCC
Nine mini hydro dams in the pipeline - UECCC Tuesday July 9 2019 Isimba dam that was commissioned in March this year. Uganda Energy Credit Capitalisation Company (UECCC) is implementing a programme through which nine mini hydro power projects for rural electrification are being developed. These are expected to improve the quality of electricity in rural areas.
Growth in agent banking signals deepening financial inclusion
In Summary Agent banking has proved to be an affordable strategy to expand financial inclusion beyond higher income customers. Rainher Ojon writes. Advertisement By Rainher Ojon A year later, agent banking, a new model of financial service through approved small outlets out of the conventional banking halls, has returned a market share of nearly 20 per cent in the financial industry, according to the latest statistics.
Shs22b sugar factory to launch in December
Hoima. A new sugar factory worth $6m (Shs22b) is expected to be commissioned before the end of this year in Hoima District. The factory - Bwendero Sugar Factory – which is owned by businessman John Fitzergerald Magara, will be the 13th in Uganda with an installed cane-crushing capacity of 1,000 metric tonnes per day. “We are finalising with the fittings of this complex that is being financed through both equity and loans,” he told Daily Monitor in Hoima District.
New mining law to cut out speculators
Kampala. The Ministry of Energy has said the new Mining Law will eliminate speculations in the sector through competitive bidding. The current law - Mining Act (2003) - does not in its jurisdiction, cover several minerals that are mined and quarried on commercial basis, yet if considered, this may raise the sector’s contribution to gross domestic product to 5 per cent. This in a way, limits governance in terms of procedures for licensing and supervision, leading to speculation.
Uganda: Government Turns Up 'Heat' On Multinationals Over Tax Fraud
By Ismail Musa Ladu & Rainher OjonFor a while now, policy, economic and political analysts and organisations such as the Southern and Eastern Africa Trade Information and Negotiations Institute Uganda and Civil Society Budget Advocacy Group have been urging government to closely monitor transactions of multinational companies after it was discovered that many of them pay very little taxes or nothing at all on taxable incomes they have earned here.
Government turns up ‘heat’ on multinationals over tax fraud
For a while now, policy, economic and political analysts and organisations such as the Southern and Eastern Africa Trade Information and Negotiations Institute Uganda and Civil Society Budget Advocacy Group have been urging government to closely monitor transactions of multinational companies after it was discovered that many of them pay very little taxes or nothing at all on taxable incomes they have earned here. Going by recent events, government has started listening to some voices of reason.
Innovation is critical regardless of costs - Absa
Why this particular exercise to endorse the rebrand of Barclays Bank into absa? We needed this rebrand to position ourselves appropriately in the markets (12 countries) we operate in particularly after our acquisition of Barclays Africa Group since it is no longer our majority shareholder.
Industrialisation dream: Will taxing imports protect local
Malaba Road – the gateway to Uganda’s imports, is wearing out. While the lane that takes exports is clear, the other one which ferries imports is jammed up with traffic. A closer look shows that a section of this lane is sinking in, because of the heavy-laden trucks of imported goods that create a deficit in the balance of payments.
Economists to govt: Fund businesses for long-term
A section of the public wants government to offer long-term funding to improve Micro Small and Medium Enterprises’ access to credit lines. Over the Mid Term, the Uganda Development Corporation (UDC) going by its draft strategic plan, needs at least Shs500 billion to fund the establishment of joint ventures with the private sector in agro-processing and manufacturing Enterprises, a move which economists support. “We have to review our position in respect to how we manage the economy.
Uganda: Economists to Govt - Fund Businesses for Long-Term
By Martin Luther Oketch & Rainher OjonA section of the public wants government to offer long-term funding to improve Micro Small and Medium Enterprises' access to credit lines. Over the Mid Term, the Uganda Development Corporation (UDC) going by its draft strategic plan, needs at least Shs500 billion to fund the establishment of joint ventures with the private sector in agro-processing and manufacturing Enterprises, a move which economists support.
BoU warns against borrowing from unregulated lenders
Kampala. Bank of Uganda has warned Ugandans against borrowing from non-regulated lenders, saying they are not safe bets. Such lenders, according to the Central Bank, include unregistered Saccos and micro-finance institutions, which are estimated to have a combined annual turnover of more than Shs4 trillion.
Uganda: Kasaija Warns UDB On Loans Recovery
By Rainher OjonKampala — The Minister of Finance, Matia Kasaija has warned Uganda Development Bank (UDB) to be vigilant and recover all money lent out. Speaking at the release of the bank's results in Kampala, Mr Kasaija said there was need to ensure that UDB is efficiently managed for the larger good of the economy so that the bank can offer cheap and affordable development loans. "Some of your customers keep going to State House asking for favours against their poorly performing loans.
Kasaija warns UDB on loans recovery
Kampala. The Minister of Finance, Matia Kasaija has warned Uganda Development Bank (UDB) to be vigilant and recover all money lent out. Speaking at the release of the bank’s results in Kampala, Mr Kasaija said there was need to ensure that UDB is efficiently managed for the larger good of the economy so that the bank can offer cheap and affordable development loans. “Some of your customers keep going to State House asking for favours against their poorly performing loans.
We almost sank due to debts, says Bemuga chairman
You lost nearly went under a few years ago. What exactly went wrong? It has been tough. We mobilised equipment and other related preparations rather too early. Because there were delays in issuing production licenses after 2015, we got affected. We had thought that activities in the oil fields would follow a sequence of patterns but that was not the case. What was the magnitude of your loss in the process? We had bank loans worth billions of shillings.
Umeme: We need more time to improve
This threat of terminating your concession; does it come as a surprise to you? Part of the engagement process with government is that we continue to invest. Government also understands that with the nature of investments we are currently undertaking is worth hundreds of billions of shillings. We need an extended period beyond the remaining seven years of our running concessions to ensure that the shortages such as load shedding which we experienced as a country before does not re occur.
Pension sector growing but not as projected
What is the status of the pension sector in the country today? The structure of our industry is scheme based. They are sponsored by members and their employers. Apparently, we have 64 licensed schemes and eight umbrella schemes. The latter emerged out of concerns from some members who could not migrate into the licensing requirement given that there are many associated costs.
Uganda: Laws Block U.S.$1,6 Billion Mining Potential - Report
By Rainher OjonKampala — Government should quickly refine Mining Regulations and the Mining Act 2003 if Ugandans are to benefit from the growth in the sector. Speaking on Tuesday in Kampala during the launch of the Baseline Assessment and Value Chain Analysis of Development Minerals report, Dr Jennifer Hinton, the Lead Researcher, said laws on mining should be refined to capture trends in the sector to anchor it on areas of institutional growth.
Laws block Shs6 trillion mining potential
Kampala. Government should quickly refine Mining Regulations and the Mining Act 2003 if Ugandans are to benefit from the growth in the sector. Speaking on Tuesday in Kampala during the launch of the Baseline Assessment and Value Chain Analysis of Development Minerals report, Dr Jennifer Hinton, the Lead Researcher, said laws on mining should be refined to capture trends in the sector to anchor it on areas of institutional growth.
Central banks asked to stick to growth friendly policies
Central bank governors drawn from 20 African countries have urged governments across the continent to improve economic management in order to achieve sustained growth. This was during a two-day meeting held in Kampala last week. Speaking at the meeting the Bank of Uganda deputy governor, Dr Louis Kasekende, urged Africa Union to be at the centre of having governments accountable, particularly when we [central bank governors] don’t agree with what we sign”.
UDB launches SMEs equity fund
The UDB board chairman, Dr Samuel Sejjaaka, said the bank now wants to leverage part of its available credit alongside its expertise in ventures with formidable local SMEs over the mid-term. This, he said could also help the bank further reduce on its non-performing loans currently standing at 14 per cent.
Why trillions invested in agricultural transformation do not
In the ambitious quest for economic recovery through growth from the agricultural sector, there is need for structural adjustments more so for agribusiness enterprises in order to make them more competitive for lending, a view held by many stakeholders. This is barely helped by indicators in government’s own scorecard touching on this important sector as unveiled by Mr Matia Kasaija, the Minister for Finance, Planning and Economic Development during this year’s budget.
Integrated financial management system could crash, says
Kampala. The Ministry of Finance, Planning and Economic Development, is warning that its multi-billion shilling payment system, is now stretched out and could soon collapse. The Integrated Financial Management Information System (IFMIS) was set up 15 years ago, among others, to improve efficiency in budget preparation, execution and financial reporting by Ministries, Departments and Agencies of government.
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