sqoop.co.ug
@sqoop Thu, 01 Aug 2024 11:29:13
NTV Akawungeezi lead producer retires after 17 years
Emotions and tears of joy filled NTV Uganda’s newsroom on a chilly Wednesday evening as the staff at the Serena Conference Center-based station bade farewell to Williams Kato, a senior news producer. Mr Kato has spent the last 17 years as the lead producer and editor of “NTV Akawungeezi” and “NTV Ku Ssawa Emu” news […]
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@kfm Thu, 01 Aug 2024 11:05:07
Uganda national museum closes today for renovation
By Winfred Watenya The Department of Museums and Monuments under the ministry of tourism, wildlife and antiquities has announced a temporary closure of Uganda National Museum for extensive renovations starting 1st August 2024 expected to last for ten months. According to a statement dated 28th, July 2024, the refurbishment aims to preserve and enhance the museum’s rich historical, cultural, and natural heritage for all generations. Uganda National Museum: the oldest in East Africa will undergo significant upgrades, including structural repairs and installation of modern facilities that enhance visitor experience. The upgrades are part of the commitment by government to promote and preserve Uganda’s cultural heritage as well as improve visitor experience at the site that match global standards. The Ag. […]
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@kfm Thu, 01 Aug 2024 11:15:55
Works on Kiira vehicle plant 95 percent complete
The Ministry of Science, Innovation and Technology has announced that works on the Kiira Motor Vehicle plant at Jinja is 95 percent complete and set to be commissioned on October 8th 2024. Speaking during a media tour of the factory, Paul Musasizi Chief Executive Officer of Kiira Motors Corporation said, once commissioned, the plant will produce 11 buses daily and 2,500 in year. He says their target is that in the medium term which is five years to come, 22 buses will be produced in a day, 200 in a month and 5,000 will be produced in a year. Musasizi noted that the plant has 163 installed machines which have different uses in the vehicle manufacturing value chain and once […]
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@kfm Thu, 01 Aug 2024 11:37:25
Ghanaian, Nigerian Kings arrive for Imbalu Festival
By Paul Adude With only a day to go to this year’s highly anticipated Imbalu Festival slated for Saturday at Mutoto Grounds in Mbale City, King Fiti Torgbui Adzonugaga Amenya V, the paramount chief of the Aflao Traditional Area and his Nigerian counterpart His Royal Majesty Dr. Suanu Timothy Yormaadam Baridam of Ogoni Traditional area have arrived in the country to grace the festivities. Addressing journalists upon arrival at Entebbe International Airport early this morning, His Highness Adzonugaga said there is need to respect and preserve traditions which are the root of African culture. “We are here to celebrate a traditional event for the Bamasaba people, tradition is something we have to honor and celebrate, you can’t ignore your traditions, […]
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@sqoop Wed, 31 Jul 2024 15:10:03
Mowzey Radio’s music is still being sold to artistes – Weasel
Six years after his demise, Mowzey Radio’s music continues to spark controversy, with allegations that some of his hard drives containing unreleased songs were stolen and the tracks sold to other artists. During a recent appearance on Deep Talk, Weasel, Radio’s former music partner, revealed that songs by the late sensational singer are being released […]
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@sqoop Thu, 01 Aug 2024 10:39:15
Show off your style: ‘Laga Swagga’ campaign rewards loyal consumers
Uganda Breweries Limited (UBL) has launched a nationwide consumer promotion called “Laga Swagga”, which will reward over 400 loyal consumers with cash prizes totaling 1 billion shillings over 12 weeks. The promotion, which translates to “show off your style,” will offer daily and weekly prizes from August to October. To participate, consumers who purchase select […]
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@matookerepublic Thu, 01 Aug 2024 09:06:47
Miss Uganda Grand Finale set for this Saturday
The Miss Uganda Foundation and StarTimes Uganda have announced that the Grand Finale of the Miss Uganda 2024 pageant will take place on Saturday, August 3, at the Sheraton Hotel in Kampala. The Grand Finale will be broadcast live on Makula KiKa at 7:00 p.m., allowing audiences across the country to witness the crowning of […] The post Miss Uganda Grand Finale set for this Saturday first appeared on Matooke Republic.
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@matookerepublic Thu, 01 Aug 2024 09:34:52
UBL launches Laga Swagga promo with Shs1 billion worth of instant cash prizes to reward consumers
Uganda Breweries Limited (UBL) has launched a nationwide consumer promotion dubbed “Laga Swagga” which will see over 400 loyal consumers redeem cash prizes worth Shs1 billion over a duration of 12 weeks. Loosely translated as ‘show off your style’, the Laga Swagga promotion will reward consumers through daily and weekly prizes which are up for […] The post UBL launches Laga Swagga promo with Shs1 billion worth of instant cash prizes to reward consumers first appeared on Matooke Republic.
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@sqoop Tue, 30 Jul 2024 14:27:55
Fortunate Muhindo is Miss Tourism Rwenzori Region
Fortunate Muhindo was crowned Miss Tourism Rwenzori over the weekend when the regional pageant went to Rwenzori region. The competitions took place at Uhuru Gardens Hotel in Kasese District and Muhindo from Kasese emerged winner after beating 5 other girls. The first runner up was Shivon Muganda aged 21 from Bundibugyo and also from Bundibugyo […]
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@kfm Thu, 01 Aug 2024 06:52:21
UIA launches initiative to help traders transition from imports to locally manufactured products
The Uganda Investment Authority (UIA) has unveiled a groundbreaking initiative to encourage traders in Kampala’s business hub, known as Kikuubo Lane, to transition from trading in imported products to manufacturing them locally. This was revealed by the Director General of UIA, Robert Mukiza, during a meeting at UIA head office with traders from Kikuubo and officials from the Global Competitiveness Initiative (GCI) and the Presidential Advisory Committee on Exports and Industrial Development (PACEID) on Wednesday. He said a special desk has been created under the Domestic Investment Division, which has designed work plans, targets, and timelines to ensure a faster transition of business people from trading to manufacturing. He noted that traders, especially those in Kikuubo, have a deeper knowledge […]
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@kfm Thu, 01 Aug 2024 06:08:38
District planners urged to desist from political influence
The Ministry of Local Government Permanent Secretary Ben Kumumanya, has cautioned districts planners against any political influence while executing their duties. The ministry officials are currently traversing the country engaging district planners on embedding Parish Development Model in their respective strategic district plans. However, some district planners have often cried out over what they call escalating political influence from political leaders at the different levels, which they say has negatively impacted their performance. In a statement read for him by the Ministry’s under Secretary Kalifani Ssewante during the ongoing training of over 90 district planners in Masaka City, Kumumanya urged them to stand firm on the implementation of approved activities within their strategic plans. “It is time they wake up because when […]
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@kfm Thu, 01 Aug 2024 06:27:33
Announcement of substantive trade ministry PS expected today
President Museveni is today expected to announce the appointment of a substantive Permanent Secretary (PS) to the Ministry of Trade, Industry and Cooperatives. This is after the earlier Alex Kakooza who was earlier appointed in care taker position was recalled to enable concentrate on his cardinal role of the Principal Private Secretary to the Vice President. In a telephone interview with KFM, the head of Public Service and Secretary to Cabinet Lucy Nakyobe, said a new name was submitted on Tuesday and was expecting a response before closure of business yesterday. “There will be an appointment of substantive to care take, so I have recommended another name for somebody, so i hope response in the Couse of the day”, Nakyobe […]
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@kfm Thu, 01 Aug 2024 06:42:35
MAK researchers roll out new innovation to promote mental health in schools
Health researchers have rolled out a campaign in teacher training institutions to provide early interventions that will help curb mental health-related illnesses in primary schools. A group of researchers from Makerere University College of Health Sciences led by Dr. Janet Nakigudde says the intervention will be carried out in three core primary teacher teaching institutions using a mobile smartphone-based application code-Named M –health M –Well. She notes that although the government banned corporal punishments in schools, they still exist due to mild mental health-related and stress among the teachers. She explains that the mobile app will allow the users to track and monitor mental health symptoms while gaining access to education on how the pandemic affects strategies for coping with […]
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@matookerepublic Thu, 01 Aug 2024 06:25:41
Ugandan athletes to smile all the way to the bank as gov’t reveals cash prizes: Shs100m for gold, Shs50m for silver, Shs25m for bronze, plus Shs19m as allowances for each participant
Athletes who are representing the country at the ongoing Olympic Games in Paris, France, have a chance to smile all the way to the bank after the government announced cash rewards and allowances for the participants. A total of 25 athletes are representing the country in four disciplines: athletics, rowing, swimming, and cycling. Rower Kathleen […] The post Ugandan athletes to smile all the way to the bank as gov’t reveals cash prizes: Shs100m for gold, Shs50m for silver, Shs25m for bronze, plus Shs19m as allowances for each participant first appeared on Matooke Republic.
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@matookerepublic Thu, 01 Aug 2024 06:34:52
Kiira Motors announces Uganda’s first e-mobility expo
Kiira Motors Corporation (KMC) has announced Uganda’s first e-mobility expo and Kiira Vehicle Plant (KVP) Open House. The expo is taking place on Friday, August 16, 2024 at the Kiira Vehicle Plant in Jinja from 12:00 pm to 10:00 pm. Held under the theme” The future is green; the future is now, the first-of-its-kind event is […] The post Kiira Motors announces Uganda’s first e-mobility expo first appeared on Matooke Republic.
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@observer Wed, 31 Jul 2024 03:30:29
Law courts weaponized against political protesters
At least 32 protesters have been released either on police bond or granted bail by court after their arrest last week for participating in the march to parliament protests. Those granted bail by press time include Muhwezi Eric, Magara Brian, Kato Jeremiah, Kanunu Ashiraf, Onyango David Anderson, Kiyaga Eddy, Ssagala Abdul Rahman Kabanda, Abdul Majid, Mutibwa Innocent, Muwonge Vian, Abdul Bast Najib, and Maseruka Robert. Others are Pato Denis, Kalenda Abigail, and Nalunkuma Ruth. These individuals had been charged with crimes such as being a common nuisance and disobeying traffic rules, among others. Most were released on cash bail ranging from Shs 100,000 to Shs 200,000 and non-cash bail of between Shs 500,000 and Shs 2,000,000. According to Agather Atuhaire, one of the activists working to free those arrested, they have been diligently working to secure the freedom of all those detained since July 22.“Our job with my colleagues at Agora Discourse and some other well-wishers has been to track who is arrested, who is detained where, who needs sureties, lawyers, and fees for bail, etc. We have a list of all that. Luckily some people were released without being charged, slightly over 20. Those who were charged, the bail hearings started today [Monday, July 29] and 12 people were released on bail. There are six whose ruling for bail was deferred to August 8. So yeah, the exercise is tough in terms of mobilizing resources and sureties, but Ugandans are responding positively. We have another bail hearing [Tuesday], and Wednesday we wait to see how it goes,” Atuhaire said.According to a statement by the Uganda Police Force, by July 25, at least 104 people had been arrested, with the majority already produced in court and charged.“Between July 22 and July 25, 2024, demonstrators attempted to march to parliament in Kampala, leading to significant police intervention. July 22, 2024: Nine individuals were arrested and charged with common nuisance and traffic regulation violations, all of whom were taken to court. July 23, 2024: A total of 75 suspects were apprehended; 74 were subsequently taken to court, while one remains in police custody. July 24, 2024: Three individuals were arrested and charged with common nuisance offenses, all of whom were taken to court. July 25, 2024: Sixteen people were arrested; 13 were taken to court, and three are still in police custody,” a statement by police spokesperson Kituuma Rusoke reads.The rapid arrests and quick arraignment in court have raised questions about the impartiality of the judiciary in the ongoing political contestations. Activists have accused the judiciary of being used by the executive to abuse the rights of Ugandans. Makerere University lecturer Dr Jimmy Spire Ssentongo, one of the leading activists against corruption, stated that quickly charging protesters and sending them to long remand periods clearly shows the judiciary is tilted towards the executive.“Now some magistrates first punish you with long remand, then hear your case. When arms of government get obscenely fused, those who challenge the powerful in government are bound to always be guilty until proven innocent,” Ssentongo said on his X account.However, in a statement, the judiciary denied that it was taking sides in the contestation. “The Constitution...establishes the Judiciary as an independent arm of government mandated to administer justice. Suffice to say, judicial power is exercised in the name of the people and in conformity with the law, values, norms and aspirations of the people. In exercising this mandate, the courts act independently and are not subject to the control or direction of any person or authority. The Judicial Oath further mandates every Judicial Officer to administer justice without fear, ill will or affection,” the statement reads in part.The judiciary emphasized that its role is not to descend into the arena of disputes but, rather, to wait for matters filed before it for determination. “The criminal justice process involves, among others, reading charges to the accused, consideration of bail which may or may not be granted. These are judicial processes that are handled with judicial discretion,” the statement adds.SEXUAL HARASSMENT ALLEGATIONSAllegations of sexual harassment have surfaced following the arrest of individuals who attempted to march to parliament. According to Dr Jimmy Spire Ssentongo, several detainees reported being sodomized while in police custody. In a post on X, Ssentongo expressed his outrage, stating that sodomy was being used as a weapon against protesters.“Some of the released boys say that they were subjected to anal rape by police officers while in custody. Another NUP young man raised the same complaint upon release recently, on top of his teeth also being knocked out. So, a government that claims to fight homosexuality uses anal rape as a form of torture. How did we get here? How does a male police officer get turned on, lower his uniform pants, and force a young male suspect to bend over for him to work his rectum?” Ssentongo wondered.The police swiftly denied these allegations, calling them propaganda against the force. “The police are very conscious of the rights of suspects and take their responsibilities seriously. We implore you to desist from spreading false narratives and misleading propaganda that only serves to tarnish the reputation of the police force. Spreading malicious lies and baseless allegations is highly unprofessional and unethical,” a statement by police spokesperson Kituuma Rusoke reads in part.President Yoweri Museveni has vowed to deal ruthlessly with anyone who attempts to protest against corruption. In a statement last week, Museveni claimed to have intelligence that those participating in the march were agents of foreign interests.He also suggested that the charge sheets would be amended to reflect more stringent charges.“The evidence in court will shock many. As I said, the planners of these demonstrations wanted to do very bad things. The charge by the Police of ‘idle and disorderly,’ I suspect, was used because the deployed personnel did not have all the information. This was a high-quality, intelligence-led operation. I have most of the information,” Museveni’s statement reads in part.The organizers of the march have vowed to continue their protests despite the crackdown and have rejected Museveni’s characterization of them as agents of foreign interests. Museveni’s fears may be influenced by recent events in Kenya, where protests initially sparked by a controversial Finance Bill 2024 escalated into demands for President William Ruto’s resignation. Museveni has vowed never to allow a similar situation to unfold in Uganda. {loadposition inarticle}
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@observer Wed, 31 Jul 2024 03:43:20
OTIC Foundation equips Ugandans with AI skills
As artificial intelligence (AI) applications and systems continue to proliferate, with widespread use of platforms such as ChatGPT, Meta AI, Perplexity, and Brain Task AI, many people are becoming increasingly wary of being replaced by these technologies. Nesta Paul Katende, the founder of OTIC Foundation, believes that rather than fearing AI, people should embrace and integrate it into their daily work to boost productivity. Katende emphasizes the foundation’s goal of reaching over one million Ugandans to equip them with essential AI prompting skills. In partnership with the ministry of ICT and National Guidance, the OTIC Foundation has initiated training programs at the National ICT Innovation Hub. These programs have attracted over 715 Ugandans from diverse professional backgrounds, aiming to make them relevant in their fields amidst the rapid advancements in AI technology. “We have started the campaign ‘AI in Every City,’ launched last week at the National ICT Innovation Hub in collaboration with the Data scientists Network (DSN), the largest AI technology enterprise on the African continent,” Katende asserted. Participants are trained in various AI programs, including Microsoft’s Power BI, a business intelligence and data visualization tool, and Python Script, an AI-based machine learning course. Katende likened the significance of AI in today’s world to the steam engine during the first industrial revolution, emphasizing the necessity for people to understand and utilize these systems. He also highlighted that AI skilling by OTIC Foundation would enable Ugan- dans to establish sustainable businesses using AI technologies, making them relevant as the world transitions into the fourth industrial revolution, with AI as its cornerstone. Commenting on AI trends, Katende mentioned tools such as ChatGPT, Gemini, Copilot AI, Perplexity, Brain Task, and Meta AI, which are revolutionizing essay and research paper drafting. Ben Nakireza, head of Business Development at OTIC Foundation, stressed the importance of using the right prompts to get accurate answers from AI systems like ChatGPT and other generative AI tools. “With AI, it’s no longer crucial to know the answers; what matters is knowing how to ask the right questions,” Nakireza noted. He further explained that AI cannot replace humans but can take over repetitive tasks, urging people to be creative when using AI. “AI will task humans to innovate beyond repetitive tasks, making it imperative for us to be creative,” he added. Katende urged the government to establish regulations that ethically promote AI use, emphasizing the critical role of data in these technologies. He highlighted the importance of preventing data privacy invasion and believes government regulations can mitigate risks associated with AI misuse. The overall growth in value of the fund is for the most part based on the contributions of its more than 2.4 million registered members, annual recruits, and bitter- sweet returns from its fixed income securities. Not its counterproductive investment policy. {loadposition inarticle}
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@observer Wed, 31 Jul 2024 03:54:20
NSSF’s investment strategy leading to massive losses in workers’ savings
When it comes to talking at great length and with growing enthusiasm about the numerous accolades collected in their trophy cabinet over the years; East Africa’s largest provident fund by asset value — National Social Security Fund Uganda [NSSF] doesn’t shy away from the spotlight. In flamboyant fashion, the fund parades its awards for financial reporting, communication and corporate governance to the contentment of its stakeholders who are primarily the workforce. NSSF’s accomplishments are usually backed by figures to validate the awards such as its total assets valued at Shs. 18.56 trillion [$4.9 billion] as of June 30, 2023. New members recruited since 2022 who are counted at 180,802 for the 2023 financial year [FY] and increases in fully paid benefits to members. However true that may be, a lot of information about the fund that paints a holistic picture is lost in translation since it’s buried deep in their financial reports where only a keen eye can ferret out. The information in question is important because it points to NSSF’s money, and how it’s managed; and signals whether the fund’s money is regressing, stunted, or growing. In that way, the stakeholders can hold the fund accountable, thereby guaranteeing its efficiency. There are several bits of information buried in NSSF’s financial reports that sound the alarm on its financial health and spell danger ahead if changes are not made. These red flags should be of keen interest to the workforce who are the backbone of the fund. Of greatest importance is the foreign exchange loss the fund incurred in the fiscal year of 2023 amounting to Shs 1.05 trillion [$282.5 million] up from Shs. 13.63 billion [$3.6 million] the previous year. This loss was a consequence of the Kenya shilling dropping in value against the Uganda shilling by more than 22.22% percent, the fund’s annual report for FY 2023 asserts. NSSF is heavily invested in Kenya, posting up Shs. 583 billion [$156.8 million] in Kenyan treasury bills and equities during the 2023 financial year alone. Add that to the negative 34.48 percent performance of Nairobi Securities Exchange when translated to Uganda shillings where NSSF is invested in a dozen companies. Some of the companies that the fund has invested in, in the Kenyan bourse are Absa bank Kenya, Safaricom, NCBA bank, Cooperative Bank Kenya and Diamond trust bank to cite a few. This investment has resulted in the loss of Shs 105.2 billion [$28.3 million] in equities in the FY 2023 for the fund, and a dip in returns from fixed income from 15.1 percent in 2022 to 10.45 per- cent in 2023. The losses in investment from Kenya are bound to get larger with financial challenges worsening because of the re- cent widespread protests opposing the Finance Bill 2024 which aimed to create revenue streams for the government to pay its debts. In this scenario, the liquidity risk of the fund from its Kenyan investments is heightened because returns are most likely not going to be availed at the right time. NSSF needs them to honour its obligations like mid-term payments. This is going to disrupt the flow of work within the fund. Interestingly, Kenya’s provident fund — NSSF does not return the favour because its last released annual report in FY 2020/21 disclosed that the fund only had interests in two Ugandan companies. That is, Umeme Limited through the Nairobi Securities Exchange, and Stanbic bank Uganda on Uganda Securities Exchange. NSSF’s interests in Tanzania are not any safer as the Tanzanian shilling weakened by 5.2 percent against the Uganda shilling in the 2022/23 financial year, and Dar es Salaam Stock Exchange market performance dipped by 4.02 percent. Overall, this led to a fair value loss on equities for the fund [where equities are sold below their market value] of Shs 125.948 billion [$33.8 million] for the year leading to June 30, 2023. The fund’s financial statements indicate that despite growth in real estate investments of 11 percent in FY 2023 equivalent to Shs 1.299 billion [$349.5 million], a jack up from 1.272 billion [$342.2 million] in FY 2021/22; net real estate income dropped from Shs 15.4 billion [$4.1 million] in 2021 to Shs 11.946 billion [$3.2 million] in 2023. Patrick Ayoba - NSSF boss This, it attributed to low occupancy rates, and house sales. Moreover, over 70 percent of the real estate asset class comprises undeveloped land. This means that the fund is going to increase investing in real estate despite a decline in yields from this asset class. As detailed, NSSF is suffering a massive haemorrhage of funds in all its asset classes mainly because of its cagey regional investment policy. These losses are not attached to a single bad financial season; rather, they have become the norm. For instance, the integrated report of 2020 recorded a Shs 15 billion [$4 million] loss in dividend income. The East African exchanges have cost the fund significant losses as far back as 2019, whereas the fund’s real estate projects have posted negative returns which are captured in NSSF’s integrated report of 2020 as a negative Sharpe ratio. In spite of acknowledging a 10.31 per- cent return on equities in the Ghana stock exchange, and a 14.81 percent return on Johannesburg stock exchange equities in their yearly report leading to June 2023; the region’s biggest institution maintains its 55 percent Ugandan portfolio while spreading the rest between Kenya and Tanzania. The fund will not even consider investing in inflation-protected bonds in South Africa. Section 30 of the NSSF Act 2022 reaffirms that investment of the fund’s monies may be determined by the board in consultation with the minister responsible for finance. This clause doesn’t place border restrictions. On why the fund has stuck with a regional investment policy despite the glaring shortfalls; former chairman of NSSF Uganda, Geoffrey Onegi Obel had this to say: “Generally in investing, lifetime savings of domestic workers should not be invested outside the domestic economy because it amounts to exporting Ugandan jobs outside instead of developing them within. As a fund manager, you only go outside for better returns you cannot get interiorly”. “NSSF funds should work to create jobs in Uganda. More jobs mean more members, more members mean more contributions”.“That being said, the fund treasury function should be alert to financial indicators and move in and out of portfolios looking for yields which build up to a strong year-end position which is the basis on which annual fund perfomance is determined”. Onegi Obel continues to suggest that “fund treasurers should not fear to get out of a declining portfolio and move proceeds to a stronger one because they fear being misunderstood for causing portfolio withdrawal loss”. The former chairman of the fund remarked that if left alone with a strong jobs policy, NSSF can double in size every five years. Every effort to get the managing director of the fund, Patrick Ayota’s statement on the recurring losses proceeding from NSSF’s investment policy was without success as he didn’t pick up my call, or, respond to my messages. When all is said and done, it’s not farfetched to dare say that the overall growth in value of the fund is for the most part based on the contributions of its more than 2.4 million registered members, annual recruits, and bittersweet returns from its fixed income securities. Not its counterproductive investment policy. kidambamark@gmail.com {loadposition inarticle}
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