BUSINESS Archives - Whisper Eye

Category Archives: BUSINESS

Uganda blocks introduction of new fish species from China

The Ministry of Agriculture, Animal Industry and Fisheries has halted a move by a Chinese firm to introduce, breed and grow exotic species of fish in the country.

Dr Anthony Taabu Munyaho, the Director National Fisheries Resources Research Institute, says that the proposal was tabled for review by a Chinese investor. He, however, adds that they rejected it citing the numerous risks.

Dr Munyaho adds that Uganda has over 500 species, all them edible, which have been developed to commercial levels than making new introductions.

Entebbe Airport expansion set to improve aviation safety and security –CAA

The Director-General of the Uganda Civil Aviation Authority David Mpango Kakuba is optimistic that the expansion and upgrade of Entebbe International Airport will boost Aviation safety and security.

Kakuba was leading a team of Members of the Infrastructure Committee of Parliament and the Joint Transport Sector Review to monitor the progress of the airport expansion and upgrade. He said that Entebbe International airport receives much more passengers than it was supposed to receive at the inception of the Civil Aviation Authority in 1991.

Lord Mayor meets global social economy forum, discuss Kampala development

Kampala Lord Mayor Ssalongo Erias Lukwago has today met with Global Social Economy Forum over possible solutions for the development of Kampala City.

Co-president Joung Youl Kim lead the team from Global Social Economy Forum together with the Secretary general Laurence Kwark.

Both visited Kampala and attended economic empowerment trainings organised at the Lord Mayor’s Parlor, at City Hall.

Burundi welcomes opposition exiles for 2020 election

The Burundian government is now calling on opposition members in exile to return home and take part in the 2020 general elections.

This offer is one of the moves by President Pierre Nkurunziza’s administration and the ruling party to seek political stability ahead of the elections, amid accusations of exclusion, and come after the June 7, 2018 announcement by the president that he will not contest after his controversial term ends in 2020.

Gen Muhoozi to UPDF Wassaco consider a business arm

The Chief of Defence Forces Gen. David Muhoozi has advised Wazalendo to consider opening up a business Arm that could own a bank , investment club and other businesses.

Muhoozi made the remarks while closing a five-day Wazalendo SACCO strategic plan retreat at Royal Suites Hotel in Bugoloobi a Kampala suburb.

“I thanked the governance and management team for the job well done which has pushed Wazalendo to be among the 6th biggest Saccos in Africa.” says Gen Muhoozi

Report warns of highly contaminated Uganda tomatoes in markets

Up to eight harmful pesticide contaminants have been found in tomatoes sold in major markets in Kampala and other parts of Uganda.

The study by the Uganda National Association of Community and Occupational Health – UNACOH was done in 18 districts of Uganda under its Pesticide Use, Health and Environment Project implemented in collaboration with Diálogos, a Danish voluntary organization working to promote health in poor countries

The study was conducted in the four geographical regions of Uganda, covering the districts of Kampala, Sembabule, Wakiso, Kayunga, Rakai, Bushenyi, Ntungamo, Kamwenge, Masindi, Nebbi, Adjumani, Kitgum, Gulu, Kapchorwa, Kumi, Pallisa, Budaka and Bugiri.

Uganda to license marijuana growing companies

The Prime Minister Ruhakana Rugunda has said Government plans to issue licenses to marijuana growing companies.

Several companies have already started growing medicinal cannabis in Uganda, although Government has in the past denied the reports.

In June, an Israeli Firm, Together Pharma Limited reported its first Marijuana harvest from Uganda, despite a government announcement that the license had been halted.

President Museveni switched to Namibia after Rwanda – Uganda boarder saga

Uganda’s president Yoweri Kaguta Museveni has embarked on efforts to create more trade links after losing Rwanda Market.

Since the beginning of this year Rwanda-Uganda relationship has failed to stabilised. Rwanda closed her Uganda broader for over three months.

And the after math, of Rwanda-Uganda boarder closure has ultimately affected Uganda’s economy.

68 percent Ugandans live outside money economy, says Museveni

More than 60 percent of the Ugandan population is poor because they are living outside the money economy, according to President Yoweri Museveni.

The president believes that many Ugandans do not use their abundant land and labour to create wealth. He was closing a two-day West Nile Investment Symposium which ended last evening at Muni University in Arua district.

Mbale set to generate power from waste

The mayor of Mbale Municipal Council, Mr Mutwalibi Mafabi Zandya, has said the waste–to-energy project is in its advanced stages. 
The project aims at turning waste into electricity that will be connected to national grid.

“This is good development and implementation is in advanced stages. We want to see the town free from garbage menace,” he said on Saturday.
Mr Mafabi added that the initiative will address the perennial power blackout in the town.

Rwanda is small market, ignore it, Uganda trade minister Kyambadde tells traders

Trade minister Amelia Kyambadde has said Ugandans should drop “sentimental” attachment to Rwanda, which shut its main Gatuna border to Ugandan cargo in February, and explore new regional markets for exports.

“We are not going to confine ourselves to an economy of how many million [people]? Eight million!” she said in an underestimation of Rwanda’s population, projected this year at 12 million.

She made the remarks at the Second Breakfast Policy Series organised by the National Planning Authority (NPA) and United Nations Development Programme (UNDP) at Kampala Serena Hotel yesterday.

URA rejects tax deductions on expenditure on land leases

Uganda Revenue Authority-URA has rejected claims from several companies and individuals that the money they spent on leasing land and rent payable on the same be counted as revenue expense to be deducted from their tax bill.

Several companies filed their annual tax returns by June 30, 2019 and included money spent on acquiring leases and rents on them as revenue expenses. URA said it won’t be counted and has asked the affected companies to file fresh returns.

UNBS confiscates sachet Alcohol filling machines

Uganda National Bureau of Standards yesterday closed 167 sachet-filling machines belonging to at least 37 alcohol-manufacturing companies.

“As a measure to enforce the government ban on alcohol sold in sachets, the Uganda National Bureau of Standards has closed over 167 sachet-filling machines belonging to at least 37 alcohol-manufacturing companies. The operation was conducted in Kampala, Wakiso, Mukono, Jinja and Mitiyana. UNBS staff also seized and confined packaging materials used in production of sachets,” UNBS said in a statement.

Oyo asks Kyegegwa residents to stop environmental degradation

The king of Tooro, Oyo Nyimba Kabamba Iguru Rukidi Iv, has asked residents of Kyegegwa district to stop environmental degradation. The king made the remarks while concluding his two-day visit to the district.

During an event that was held at Kyegegwa Town Council grounds on Tuesday, King Oyo noted that forests in the district were being cleared and the tree cover getting depleted by charcoal burners.

Uganda’s oil and gas sector in another slowdown, jobs at stake

The oil and gas sector should by now be employing thousands of Ugandans in the construction sector, but players in the industry say the sector has again slowed down.

Players in the industry say most of their labour force and equipment are redundant as the farm down tax dispute between U.K. firm Tullow Oil and government rages on.

Tullow and the government are yet to conclude negotiations about $167 million in capital gains tax assessed by Uganda Revenue Authority on the planned farm-down of Tullow’s sale of its assets to Total E&P.

Police foils bank robbery at KCB Bank in Jinja

Police in Jinja is investigating circumstances under which private security guards attempted to rob  KCB Bank, Jinja branch and put all staff members that were on duty under siege.

Reports indicate  that the security guards tried to rob KCB bank in Jinja but Police  quickly  reacted and deployed heavily.