Alon Mwesigwa
The Observer
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Past articles by Alon:
MTN’s data revenue up 27% despite taxes
MTN Uganda has posted a glowing performance for the calendar year 2018, with its internet usage revenue moving up by almost 27 per cent growth while voice calls grew by just over six per cent. In a statement, the company group CEO Rob Shuter said: “Our growth is closely linked with the economic activity in the country. The overall growth in revenue was due to a 46.6% rise in active data users… → Read More
Mutebile in U-turn, admits receiving key documents
Bank of Uganda governor Emmanuel Tumusiime-Mutebile has made a U-turn informing the parliamentary committee on Commissions, Statutory Authorities and State Enterprises (Cosase) that he actually received all the reports regarding the closure of past banks, writes ALON MWESIGWA. In a letter dated November 23, 2018 addressed to the committee chairman, Bugweri MP Abdu Katuntu, Mutebile said the BOU… → Read More
Gashumba to daughter: Nobody loves you more than your parents
In an emotional tale, Frank Gashumba, an activist associated with Sisimuka Uganda, took to Friday night television to explain his side of widely circulated allegations that he was battering his daughter Sheila Gashumba. On social media, Gashumba, a single dad, posted pictures of Sheila as a toddler as he escorted her to school – an illustration of how far he has come with her. → Read More
Uganda considers refugee policy change
Slightly after 4pm on Wednesday afternoon, a community meeting at Nkoma town council hall in western Uganda begins with land as a key highlight on the agenda. Nkoma is home to Rwamwanja refugee settlement in Kamwenge district, with 80,000 refugees – almost thrice the number of nationals. Today, the hosts are discussing the turn their lives has taken since the arrival of refugees seven years ago. → Read More
Importers to use local firms for marine cargo insurance
In a bid to curb the loss of millions of dollars to foreign insurance companies, the Insurance Regulatory Authority (IRA) is pushing for government’s implementation of the law that empowers local firms, writes ALON MWESIGWA. To businessman Gerald marine insurance was just a sum paid to international shipping partners. He did not even believe he can do anything in the unfortunate case that he… → Read More
99% of Fintech funding in E.Africa goes to Kenyan apps
Kenyan finance and technology (Fintech) start-ups take a lion's share of 99 per cent of all funding in the region - leaving Uganda, Rwanda and Tanzania to share the remaining 1 per cent, a new research report has shown. The study, which looks at Fintechs in the region, was supported by Financial Sector Deepening Uganda (FSD), East African Venture Capital Association, UKaid, and FMO bank. Kenyan… → Read More
Why middle-income status doesn’t mean wealth for you
Ugandans are yearning for a better life, but the government's much-touted middle-income status won't automatically hand down wealth to everyone, writes ALON MWESIGWA. At a political rally in Katwe near Kampala, Mable Mugisha looks on thoughtfully as a local minister makes a case for the removal of age limits for presidential candidates from the Constitution. “Uganda will be middle-income soon,”… → Read More
Uganda shilling exhibited at SA money museum
The Uganda shilling notes printed in the 1960s and ‘70s are some of the notes displayed at Africa’s biggest money museum in South Africa. The Absa money museum, the only private money museum on the continent, displays mainly the money history of South Africa – one of the continents most advanced countries. Its records stretch way back to the beginnings of transactions in South Africa and… → Read More
Barclays bank weighs risk of name change
After more than 100 years using the Barclays name in Africa, Barclays Africa Group will finally let go after its parent firm sold majority interest in it. The task now is to get the brand that will appeal to its 11.6 million customers across the continent, writes ALON MWESIGWA. At the Barclays Towers, 15 Troye Street in Johannesburg, tens of bankers occupy an entire floor piecing together the… → Read More
Ugandans to have GMO Matooke in 2021
Researchers at the National Agricultural Research Laboratories in Kawanda have said they are ready to go for open- field trial of the genetically -modified banana, before it is released to the public in 2021. This follows the passage of the National Biotechnology and Biosafety Bill, 2012 which now gives them a go-ahead to move out of the station to test their varieties in the community. The law… → Read More
Doctors set three terms to end strike
State House health monitoring unit must disband, medics demand, as Museveni promises more pay Striking doctors have said they can return to work as negotiations on their demands continue if three key conditions are met, and surprisingly the trio doesn’t include the pay raise. On the pay raise, the doctors say they are willing to hold off their agitation as urged by government officials until the… → Read More
Shs 236bn disbursed to farmers under the agriculture facility
At least Shs 236bn has been disbursed to 378 farmers under the agriculture credit facility since its inception eight years ago. “The ACF has steadily improved since it was established in the year 2009,” says Bank of Uganda’s 2016/17 annual report. The facility, run by BOU, is a government initiative aimed at availing farmers with affordable finance below the cost of funds on the open market. The… → Read More
URA collects Shs 3.1tn in first quarter
The wholesale sector was the best-performing tax head as Uganda Revenue Authority collected Shs 3.1tn in the three months to September, 2017.The tax-body, however, missed its target by Shs 132bn although it says revenues grew by 11.8 per cent compared to the same period last year. The wholesale sector entails the sale of goods or merchandise to retailers. It can also be to other wholesalers or… → Read More
Shs 2.3 trillion from oil disputes already spent
At least 85 per cent of what Uganda earned after it won two disputes with global oil companies has already been spent, a government report says. This revelation is contained in the Bank of Uganda annual report 2016/17, the first official acknowledgement that much of the money was used. The two tax disputes generated $728,758,293 since 2010, the report said. The central bank reported that $434… → Read More
Journalist reports death threats over Rwanda book
Journalist Justus Muhanguzi has reported a case to police over threats on his life after he launched a book with his account of what happened during the Rwandan 1994 genocide. Muhanguzi is one of the Ugandan journalists who covered the war and subsequent genocide in Rwanda as it happened. He was writing for New Vision newspaper at the time but his book on what he says is what he saw has raised… → Read More
Kenya, Uganda ‘fight’ over Idi Amin rhinos
Uganda and Kenya are bickering over white rhinos that were evacuated from the country during former president Idi Amin’s reign. According to John Makombo, the director for conservation at Uganda Wildlife Authority , four white rhinos were taken to the Czech Republic to shield them from death by insurgents. When the situation later stabilised in the 1980s, the Czechs offered to return the rhinos… → Read More
Ugandans getting poorer, states PWC expert report
More Ugandans have become poorer in the last five years despite the improvement in the size of the economy, an update by audit firm PricewaterhouseCoopers says. PWC’s economic outlook covering July to September 2017 also indicates that most of the poor are hard-hit by disparities in access to social services such as education and health.“The number of poor people has risen in line with the… → Read More
Which bank offers you the best deal?
Which bank offers the fairest deal? You have probably struggled with this question as you ponder where to go to save your money, or even get a loan. The figures are deceptive. The advertisements are deceptive too. Commercial banks in Uganda continue to be clever. Many of them say: “open an account with us, we shall not charge you.” However, a review of the latest compilation of bank charges, as… → Read More
Dfcu shareholders keen to increase stock in the bank
Dfcu towers African Alliance Uganda, a brokerage firm, has said it is yet to receive any shareholder seeking to renounce their shares in Dfcu bank as the rights issue enters the third day. Kenneth Kitariko, the CEO of African Alliance, told The Observer yesterday: “There hasn’t been any renunciation. So far it is positive.” Shareholders are coming to pick their forms.” The rights issue ends on… → Read More
IGG stops Shs 20bn payment to minerals minister Lokeris’ sons
The inspector general of government , Irene Mulyagonja, has written to the secretary to the Treasury, Keith Muhakanizi, halting the payment of billions of shillings to Welt Engineering Ltd, a company owned by sons of Peter Lokeris, the minister of state for Minerals. The company is in court battling with a Chinese firm, China Road and Bridge Corporation , for ownership of the Kamusalaba rock in… → Read More