Author: felix@elixnews.co.ug
Amidst traders strike over high taxes, Ministry of Finance has tasked Uganda Revenue Authority to collect shs 13trillion so as to hit 2023 /2024 financial year target. According to Henry Musasizi Minister of State for Finance, URA is projected to gather taxes amounting to Shs31.574 trillion to support the 2024/25 national budget. This marks a rise of Shs1.9 trillion from the current target of Shs29.672 trillion set for the fiscal year 2023/24. He appealed to tax officials to carry out reforms in order to achieve the anticipated tax collection target. “Implement and enforce electronic invoicing and receipt systems to…
Uganda government is to buy Umeme Assets as Power Distribution Company Umeme exits Uganda market in 2025 this website has learnt. Umeme has received notice from government that their 20-year concession will not be renewed upon expiry. Umeme has for the last 20 years become a household name and is known for introducing the now popular Yaka prepaid meters. According to Minister of Energy, Ruth Nankabirwa come the beginning of March 2025, Umeme concession agreement will come to a natural end after 20 years. Umeme has invested over $600 million in Uganda’s energy sector since inception. Nankabirwa says government…
In a strategic move aimed to impr9ve Jinja District Tourism Potential, Uganda Civil Aviation Authority (CAA) has embarked on redevelopment of Jinja airstrip infrastructure, starting with tarmacking of the runway and widening the aircraft parking area. According to Engineer Benedict Ovura, the principal Airport Operations officer at CAA, Jinja airfield has been underutilised over the years despite its strategic location as tourism destination. Eng Ovura said they are in the final procurement process to acquire a contractor to take up this project. “We want to tarmac the taxiway and the apron which shall also be widened,” said Ovura. According…
Ugandans rear more goats than cows, Uganda Bureau of Statistics (UBOS) 2021 National Livestock Census has revealed. The western region rears more pigs in Uganda and is followed by the Central. According to the Livestock census report the total population of goats is 17.4 million compared to 14.5 million cows. The report puts the total number of goat-keeping households at 3.3 million constituting 48.8%. The report further says that 94.5% of goats reared are under the indigenous system while 1.8% are reared under the exotic system. “74.2% of the total goat population are adults, 24.0% were he goats while…
In the latest legal saga unfolding within Uganda’s financial landscape, businessman Shukla Mukesh finds himself entangled in a complex dispute with Bank of Baroda, one of the country’s prominent financial institutions. The dispute centers around a substantial loan amounting to Shs 6.3 billion (alongside $350,000) extended to Mukesh’s Shumuk group in 2010, and the subsequent claims made by the bank against Mukesh’s assets. The High Court’s recent ruling on March 26 has temporarily halted the sale of two multi-billion properties owned by Mukesh – the Shumuk Aluminium Industries Ltd plant in Nakawa and another prime property in Lugogo showgrounds.…
Ethiopia is set to become the 9th member state of East Africa Community (EAC), just a few months after Somali’s admission to the bloc. This was disclosed by Peninah Malonza, the Cabinet Secretary for Ministry of EAC, Arid and Semi-arid Lands and Regional Development. Speaking while leading a relief food distribution drive in Kitui Central Constituency, Malonza announced that talks between Ethiopia and EAC Summit Heads of states are in the last stages and soon Ethiopia will be part of the bloc. Aside from Ethiopia’s admission, the EAC partner states also seeks to harmonize critical policies and…
In abid to address escalating youth unemployment, Ministry of Gender, Labour and Social Development, will soon start exporting Ugandans to Canada and other countries for gainful employment. According to Gender Minister Betty Amongi her ministry is planning to sign favourable bilateral labour agreements with more countries so that more Ugandans can be employed there. “My ministry is in final preparations to sign bilateral trade agreements with countries such as Oman, Somalia, Lebanon, Turkey, the United Kingdom, and Canada to officially start exporting labour,” Amongi said. Amongi, last week Uganda signed a bilateral labour agreement with Qatar to facilitate safe…
The United Kingdom (UK) has temporarily removed export tariffs for cut flowers, to streamline trade relationships between East Africa and the UK. In a statement the UK stated that the suspension of 8% duty for cut flowers will be a big win for major flower-growing regions in Kenya, Ethiopia, Rwanda, Tanzania, and Uganda but it also applies across the world. Growers can now export an unlimited quantity of flowers at a 0% tariff “even if they transit via a third country” as from April 11, 2024, to June 30, 2026. “The UK’s relationship with East Africa is rooted in…
BlueChip Technologies, an African tech giant specialized in Data Management and Analytics has entered Uganda market in its new market expansion drive. Soyombo Olumide- Co-Founder, Blue Chip Global Technologies, said the strategic move aims at revolutionizing Uganda’s technological landscape by introducing a comprehensive suite of innovative solutions tailored to meet the specific needs of Ugandan businesses and organizations. Headquartered in Lagos, Nigeria, BlueChip Technologies has been expanding its footprint across Africa in recent years. With this expansion, the company emerges as a formidable entrant into the Ugandan market, offering cutting-edge data warehousing and analytics products alongside a wealth of…