theceoma

Cities around the world have been financing their long-term investment needs through municipal bonds for centuries. The first recorded transaction occurred in Genoa in 1150. More recently, in the US, over $111 billion were issued in November and December last year for infrastructure, pension obligations and other critical needs across the country. QUARTZ AFRICA. A bond is a debt security issued by a public agency to raise money, often for infrastructure projects. Sovereign bonds are widely used by national governments, and municipal bonds are used by many cities (particularly in the Americas). Cities in sub-Saharan Africa have raised less than…

 Trade and Industry minister Amelia Kyambadde says smuggling is mainly done by boda bodas through Uganda’s porous border points and the smuggled sugar is re-packaged in branded bags of Kakira, Kinyara and Lugazi sugar, a practice that makes it difficult for URA to detect. The drop in sugar prices across the country is because of smuggling of sugar from neighbouring Kenya, Trade and Industry minister Amelia Kyambadde has said. Kyambadde: Smuggling of duty free sugar has not only hurt the sugar industry but also the out growers of sugarcane whose livelihoods entirely depend on supply of sugarcane to the factories….

There were too many rats crawling about the contract the government signed with private firm, Societe Generale de Surveillance (SGS). For starters, the contractors demanded nondisclosure of not only contents of the contract but also that the existence of the contract itself was to remain a top secret. But, as Faith Athnus writes, the aforementioned are nothing compared to the fishy smell that emanates from clause 7.8.5 of the contract that states that, in the event that the contract is terminated by either Government or Ministry of Works, before the expiry of the five-year term or any extension or renewal…

On May 24, 2017, the Minister for Planning, David Bahati, tabled motion for a resolution of Parliament to authorise government to increase the share capital of Housing Finance Bank, saying it would enable the bank expand mortgages in line with government policy, and to deal with other capital requirements set by Bank of Uganda. But MPs on the finance committee punched holes in the capitalisation dream, and by the time Bahati woke up, he had to contend with a minority report that left more questions than Bahati could answer. The minister opted out. David Bahati, the state minister for planning,…

In 2009, Government set up the ACF in partnership with the financial sector and the Uganda Development Bank and injected over Shs260 billion in it. However, among the key grievances highlighted in the minority report was the fact that the scheme was found to benefit only wealthy farmers or companies engaged in commercial farming, without any appropriate intervention to empower the subsistence farmers. A section of legislators have put Agriculture Credit Facility (ACF) under accountability microscope and called for its disbandment after raising strong concerns over its management. In 2009, Government set up the ACF in partnership with the financial sector…

Fuel prices have been skyrocketing and causing frustrations among members of the public. Legislators raised concerns and tasked the government to explain what is causing the rise in fuel pump prices in the country. But Energy minister Irene Muloni’s efforts to explain the situation were met with unexpected condemnation from legislators. A statement explaining the high fuel prices in the country divided Parliament Tuesday,  with legislators rejecting an explanation by government. Energy and Mineral Development minister Irene Muloni’s statement followed a concern raised on January 31 by Muhammad Nsereko, the Kampala Central MP, who demanded an explanation from government over…