Category «Business»

Museveni advises Africa on poverty reduction

By Benjamin Jumbe President Yoweri Museveni has challenged African countries to take advantage of commercial agriculture, industries, services and Information Communication Technology if poverty is to be eradicated. He gave the advice while launching the 2019 Forum on Africa-China Cooperation (FOCAC) Conference with a highlight on ways of eradicating poverty not only in Uganda but in the whole of Africa. The president said for Uganda and Africa to get out of poverty, each household must engage in production of goods and services to be able to earn some income. The UN Under-Secretary General Ms. Bience Gawanas who is also a Special Adviser on Africa to the UN Secretary General, pledged UN’s continued support to efforts to fight poverty In response …

Court clears NSSF, Nzeyi over Temangalo land, Indian family to pay costs

BY Ephraim Kasozi The National Social Security Fund and businessman Amos Nzeyi have been cleared of any wrong doing in the acquisition and ownership of a 366 acre piece of land at Temangalo in Wakiso District. The Land Division of the High Court has dismissed with costs a 2016 case in which Temangalo Tea Estate, a company owned by an Asian family led by Muhammad Hassan Ali Moosa was seeking to repossess the land. Justice John Eudes Keitirima has ruled that the case was stifled after a fixed length of time irrespective of the merits of the particulars of the case. Section 5 of the Limitation Act provides that no action shall be brought by any person to recover any …

Government to assess properties of all Ugandans

By Moses Ndhaye Government is considering to hire experts to assess properties/assets of all Ugandans and find out those who don’t pay taxes. The Minister for Finance Matia Kasaijja says, although the country’s economy is growing, the base of the revenue collection has remained low, despite the huge resources that the country is having. He says the government is being prompted to hire an expert to assess the properties because they are being under assessed. He says the country’s GDP tax ratio must be increased to ensure that the economy is supported . He made the remarks while giving his key note address at the NTV 4th economic summit in Kampala where the ministry of Finance and economic development is …

URA closes energy supplier in Bundibugyo

By Longino Muhindo Businesses in Bundibugyo district has been paralysed after Uganda Revenue Authority (URA) on Friday evening closed the offices of Bundibugyo Energy and Cooperative Society (BECS) over alleged failure to remit unidentified millions of money as URA taxes. BECS is mandated by the Electricity Regulatory Authority to supply electricity to the people of Bundibugyo, Ntoroko and parts of Fort Portal. The officer in charge of public and cooperate affairs URA, Mr. Rumanyika Ian confirmed to Daily Monitor saying that BECS has been closed until further notice. He said URA made an MoU with BECS that they shall be paying the accumulating taxes in installments but that they have failed to comply. Several people were seen stranded at BECS …

Rwanda border closure has affected fish business

By Ivan Ssenabulya Women in the fish processing business at Kiyindi Landing site in Buikwe district have decried the recent Uganda-Rwanda border closure, which they blame for slow silver fish business. The group, under the Kiyindi Women Fish traders and Processors’ Association comprising of 40 women and 20 men, revealed this during the fisheries day celebration held at the landing site in Buikwe. Peruth Logose, the Association Chairperson and Martha Nangoobi a member says that Rwanda was one of the largest market, which has been lost.