The Government in partnership with China is to create over 1,000 jobs at the completion of the new Sukulu phosphates factory in Tororo district. “We have already acquired the exploration license of Sukulu phosphate deposits which represents the start of resource development,” said the president of Guangzhou Dongsong Energy Group, L.V Weidong. He said they are determined to see that the project benefits the Sukulu residents. Weidong signed a memorandum of understanding with the Uganda Investment Authority (UIA) executive director Eng. Frank Sebbowa at State House Entebbe recently. The project follows a meeting between President Yoweri Museveni and President XI…

Parliament has approved the new Ugx.265 billion youth venture fund, a five-year development programme that seeks to combat poverty and unemployment among the youth. In a report presented by the Budget Committee Chairperson, Mr. Tim Lwanga, the government relocated Ugx.19.5 billion from Ministry of Finance to Ministry of Gender which is going to manage the project for the next five years. The allocation of Ugx.19.5 billion is meant to kick-start the project this financial year. The beneficiary youths will be organised under Youth Interest Groups (YIGs), or as individual youths, and will be the nucleus of the programme, Mr. Lwanga…

MPs on the parliamentary committee of finance have ordered an investigation into the circumstances under which the finance ministry signed 13 new loan agreements equivalent to Ugx1.3 trillion without parliamentary approval. In the committee report on the ministerial policy statements and budget estimates for the financial year 2013/14 that was tabled before the House last week, the committee observed that the ministry overlooked the provisions of the Constitution and the Public Finance and Accountability Act (PFAA) and therefore undermined the mandate entrusted to the legislative arm. Members will recall that Article 159 (2) of the 1995 constitution requires that borrowing…

Several government schools were by yesterday forced to close temporarily as teachers stayed away from class for the third day and the administrators could not control the pupils. If you visited any of, Buganda Road, Nakasero, Bat Valley, Kyaggwe Road, Nabagereka, Old Kampala, East Kololo, Shimoni and Ngora District’s St. Aloysius and Okoboi Demonstration primary schools, you be greeted by padlocks as there were neither teachers nor students. “It is only Uganda National Teachers’ Union (Unatu) that will advise us otherwise. We shall not yield to any intimidation by some of the State agents who are threatening us,” Mr Asiata…

The domination of Kenya in East Africa’s economy is obvious. A survey carried out by Summit Business reveals that foreign CEOs, especially Kenyans, have completely taken over as CEOs in Uganda’s top sectors especially insurance, banking, and hospitality. One of the top entrepreneurs reckons Kenya will be the manufacturing hub of East Africa by 2030 due to the said high work ethics and productivity in Kenya compared to other East African countries.   Recent decisions by Bata and BAT to transfer their manufacturing operations to Kenya validate this prediction. Other top supermarkets in the country import all and sundry (including…

Taxpayers have lost $41.8 million (more than Shs107.8billion) in an internet deal awarded to a Chinese company without competitive bidding. Public Accounts Committee investigating the scam found that corruption and negligence on the part of the technical people bungled the $106.5 million (about Shs274b) National Data Transmission Backbone Infrastructure Project meant to promote e-governance in the country. PAC yesterday opened investigations into the allegations of corruption in the deal. “The technocrats let down the taxpayers and approved the inflated costs from the Chinese firm,” Mr Wadri said. “Those who facilitated this fraud are going to pay back the taxpayer money.”…