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10,773 Posts
If we continue like this, we will waste another thread on arguments/counterarguments and opinions. Hope we can get back to what this thread was meant for.

real gooner
4,651 Posts
Museveni lauds Kenyan investors in Uganda

Uganda President, Yoweri Kaguta Museveni (left), flanked by Oasis Mall Developer, Amina Hersi, and Nakumatt Holdings MD Atul Shah (right), inspects the new Nakumatt Oasis hypermarket during its official launch in Kampala City. Photo/ CORRESPONDENT
By NATION ReporterPosted Friday, August 7 2009 at 17:30

Kenyan entrepreneurs have been lauded for their role in fostering regional economic development through sustained cross border trade and investments.

Speaking during the official launch of the new US$26 million Oasis Mall anchoring Nakumatt Holding’s Oasis Branch in Kampala and owned by award winning Kenyan entrepreneur Ms Amina Hersi Morghe, Uganda President Yoweri Kaguta Museveni described the investment as a landmark economic empowerment tool.

Accompanied by Uganda’s Finance minister Syda Bbumba and Nakumatt Holdings MD, Atul Shah, President Museveni singled out Nakumatt’s 24-hour operations as a trendsetter in Uganda.


In a humour filled speech, he likened the round-the-clock shopping concept to America’s Cable News Network (CNN) model, which he said, was a novelty guaranteed to further spur regional economic development. “This is a new world of shopping empowerment for Uganda shoppers,” he said.

During his guided tour of the new Oasis Shopping Mall, the president noted that a 4-acre piece of land had been transformed to a multi-million shopping complex employing more than 400 Ugandans.

While welcoming President Museveni’s warmth for Kenyan investors in Uganda, Nakumatt Holdings boss Atul Shah confirmed plans to further expand the firm’s operations in Uganda.

Barely four months into the opening of Nakumatt Oasis, Shah disclosed that business at the new hypermarket had picked up. In her speech, Uganda’s Finance Minister Bbumba reiterated Uganda’s commitment to attracting investors as part of the government’s economic prosperity plans.

Efforts by the government to diversify its economic dependence from agriculture, she said are now beginning to bear fruit with the service sector having picked up the mantle as the leading economic driver contributing more than half of the country’s gross domestic product.

“The service sector, which comprises elements such as hotels and such malls is now contributing more than 50 per cent of our GDP, followed by the Industrial sector contributing more than 25 per cent.”

She added: “This a key reason why we will continue to encourage investments in such emerging sectors which also provide market avenues for our agricultural and industrial produce.”

As the anchor tenant at Oasis Mall, Nakumatt Oasis Hypermarket is the first Nakumatt Holdings outlet in Uganda and covers a shopping floor space of more than 75,000square feet, stocked with a variety of more than 50,000 products.
Other Kenyan enterprises at Oasis Mall include KCB and Equity Bank.

Vast investments

Oasis Mall developer and Kathar Investments MD Amina Hersi is a Kenyan entrepreneur with vast investments in Kampala. Ms Amina also runs Kingstone Limited a hardware supplies store and is also developing Laburnam Luxury Apartments in Kampala’s leafy Nakasero suburb.

Last year, Ms Amina was awarded the Uganda Investment Authority (UIA) Woman of the Year Award in recognition of her entrepreneurial roles in Uganda.

10,773 Posts
She is building another mall in Kampala along Gaba road between Kabalagala and Nsambya suburbs. Cant recall the name of the mall though but hopefully it will be like the Oasis. I understand it will have Nakumatt as its anchor store again.

real gooner
4,651 Posts
She is building another mall in Kampala along Gaba road between Kabalagala and Nsambya suburbs. Cant recall the name of the mall though but hopefully it will be like the Oasis. I understand it will have Nakumatt as its anchor store again.
^^Kenya investment at its best, but museveni want to annexe our land still migingo island. BTW this people should invest in kenya too we need them:cheers:

1,799 Posts
Uganda purchases land in Mombasa to build dry port

Uganda has bought three acres of land in Mombasa to construct a dry port for its cargo.

It has leased the land in Makande for 99 years and is preparing to start construction, said the country’s Foreign Affairs permanent secretary James Mugume.

This dashes the hopes of container freight stations in the Great Lakes region to monopolise the handling of all Uganda-bound cargo through the port of Mombasa.

In what he terms as a “fruitful discussion” between Kenya and Uganda, Mugume said that the two governments had agreed to exchange land on reciprocal basis.

The plot to be leased to Ugandan government is co-owned by Kenya Ports Authority and Kenya Railway Corporation.

This could deal the final blow to the Kenyan-owned Great Lakes Container Freight Station (CFS) that has been pushing for a deal to handle all Ugandan cargo through the port.

In 2007, Great Lakes signed a single-sourced contract with the Ugandan government to build an inland container depot in Tororo to supplement the one under construction in Mombasa.

The deal elicited criticism across the board, with other CFS business players questioning the exclusive rights.

A high court in Uganda struck off the deal that was signed on December 6, 2006.

Its nullification was as the result of a case filed by Uganda Ports Ltd, another investor that was at the time planning to put up an inland container terminal at the Namanve Industrial Park in Kampala.

Battle for control
Other companies that protested against the Great Lakes CFS deal include Maersk Kenya, SDV Transami and Kenfright which contended that the deal would elbow them out of business. Ugandan goods constitute 75 per cent of transit goods passing through the port, which is why there is a fierce battle to control that segment of the business.

According to Mr Mugume, with the new deal, the Kenyan business community would have a one-stop centre in Kampala. This comes as good news at a time when the Kenya Ports Authority (KPA) is involved in various expansion projects to enhance the capacity of the port of Mombasa.

Chief among them is the construction of a second container terminal, and the dredging of the channel to accommodate bigger vessels. Expected to be complete by 2013, the second terminal will double the capacity of the port.

According to Captain Twalib Khamis, Mombasa port’s Harbour Master, the completion of these projects will boost KPA’s efforts to decongest the port and enhance efficiency in cargo handling.

He said the port had started to reap the benefits of its modernisation and expansion programmes as the waiting period for ships had reduced from 6 days to 5 hours or less.

1,799 Posts


Uganda has received a large amount of private transfer inflows in the last eight years with
the largest portion in form of migrant’s remittances. On average, migrant’s remittances
amounting to US$ 230 million have been received every year since 1996, with the peak
inflows in 2001 and 2002 when migrant’s remittances worth US$338 and US$384 were
received respectively. Inflows of migrant’s remittances are the second largest contributor
the countries foreign exchange inflows after exports of goods and have contributed
significantly towards offsetting the large deficit on the trade balance. The large inflows of
migrants remittances have made up for the large growth in private sector imports of
general merchandise which has grown in leaps and bounds over the same period by
providing the much needed foreign exchange to meet some of the countries import
requirements. Migrant’s remittances are equivalent to about 50 percent of total exports of
goods per annum.

Fig 1: The Goods Account and Current Transfers 1996 to 2003 – Amounts in
Millions of US dollars
Resident families of Ugandans, who live abroad, spend the remittances on recurrent items
such as school fees, rent, general upkeep etc. The main origins of the remittances are
United Kingdom, United States of America, Japan, South Africa and Sweden. The
monthly flows of migrants remittances have often tended to be sensitive to festive
seasons such as Christmas and Easter when they are at their highest and also during the
opening of school terms.
1996 1997 1998 1999 2000 2001 2002 2003
CURRENT ACCOUNT BALANCE -307.98 -320.97 -360.71 -347.33 -327.06 -312.45 -323.15 -339.67
Goods Account(Trade Balance) -336.87 -293.39 -488.87 -444.78 -453.85 -499.89 -572.59 -678.48
Total Exports (fob) 641.82 592.63 510.20 485.76 460.00 475.55 480.70 563.02
Total Imports (fob) -978.69 -886.02 -999.07 -930.53 -913.85 -975.44 -1053.29 -1241.50
Current Transfers (net) 441.77 270.33 479.87 476.97 507.27 633.77 719.90 745.97
Inflows (Credit) 602.08 601.07 744.27 646.23 754.32 937.95 1043.73 961.98
o/w Workers remittances 209.49 156.26 162.28 167.23 168.73 338.19 384.43 278.11
Outflows (Debits) -160.31 -330.73 -264.40 -169.26 -247.05 -304.19 -323.83 -216.00
o/w Workers remittances -160.31 -330.73 -264.40 -169.26 -247.05 -304.19 -322.01 -213.60
Source: Bank of Uganda

Uganda also has outflows of migrant’s remittances from mainly migrants of Indian and
Chinese origin that are employed in construction firms and business. Like migrants
remittances to Uganda, these outflows have also grown over the past eight years,
increasing from about US$160.31 million in 1996 to US$ 213.6 million in 2003 having
reached their peak in 1997 at US$ 330.7 million. The main purpose for these transfers is
for the upkeep of families resident in the home countries of these migrants. These
transfers are remitted through commercial banks, authorized money transfer agencies
with international money transfer organizations such as Western Union and Money
Gram. In addition to these officially recognized sources, some transfers come in through
the informal sector. The success of the informal sector as an alternative method for
remitting funds is on account of the very low amounts sent through this medium
attracting very low costs as compared to official sources whose costs would be to
exorbitant for such transactions.
This paper, describes the measures taken in Uganda to capture data on migrants
remittances, weaknesses in the current methodology and the future plans for improving
the current methodology used for estimating migrant’s remittances to Uganda and from

At the end of each month, all transactions in foreign exchange for the month are
aggregated for both inflows and outflows of foreign exchange. Inflows of foreign
exchange are derived as total sales of foreign exchange to all authorized foreign exchange
dealers by the public (other sector) while outflows of foreign exchange are derived from
purchases of foreign exchange from all authorized foreign exchange dealers by the public
(other sectors). The authorized foreign exchange dealers are commercial banks through
their International divisions and foreign exchange bureaus. Each authorized dealer is
legally compelled to report all transactions in foreign exchange to the Bank of Uganda.

i. Commercial Banks
The Commercial Banks provide a daily report on all spot purchases and spot sales of
foreign exchange made during the particular day in addition to data on all forward
purchases and sales. All the reports for a particular month are summed up to obtain total
transaction during the month. This total is then adjusted to exclude all inter-bank
transactions (sales and purchases between commercial banks), transactions with the
central bank (sales and purchases of commercial banks to and from the central bank) and
all transactions between commercial banks and foreign exchange bureaus. Finally, all
forward purchases and sales that do not fall due within that month are excluded, while
those contracted in previous periods but falling due in that month are included. This total
then provides all transaction between the commercial banks and other sectors.

ii. Foreign Exchange Bureaus
Foreign exchange bureaus provide weekly and monthly reports providing data on all
purchases and sales of foreign exchange from and to the public, among themselves and
from and to commercial banks. To the monthly totals, all transactions between foreign
exchange bureaus are excluded. Since foreign exchange bureaus are only authorized to
engage in spot transactions and do not trade with the central Bank, no adjustments are
made for forward transactions and transaction with the central bank. This total as in the
case of commercial banks then provides all transaction between the foreign exchange
bureaus and other sectors.
The sum of these two totals for purchases and sales provides a total of all foreign
exchange outflows and inflows from the economy on account of private sector
transactions with the rest of the world. These totals therefore provide control totals for all
outflows and inflows of foreign exchange within the month under consideration. To
derive total private transfer inflows, we subtract all BOP transaction for exports of goods,
exports of services, income inflows, foreign direct investment, portfolio investment
inflows, loans to the private sector, and the portion of official project aid (loans and
grants) spent on domestically procured goods and services. What is left is deemed to be
private transfer inflows and is subdivided into migrant’s remittances and other private transfer inflows, which includes NGO’s and Insurance Premiums etc. The break down
between migrant’s remittances is then derived using rations obtained from the
commercial bank monthly reports, which provide estimates of migrants remittances and
other private transfers. In reality, for some months, the estimate for migrant’s remittances
is under stated particularly, since the current methodology does not take into
consideration migrant’s remittances in kind, while for some months it is over stated
particularly, when residents who have been holding foreign exchange decide to sale off to
authorized dealers. However, the assumption that all foreign exchange inflows are
converted for use into the local currency at authorized dealers covers foreign exchange
that has come into the economy, outside the banking system such as through the informal
sector which in part offsets some of the underestimation made on account of excluding
goods in kind.
Migrant’s remittances from Uganda are also computed following a similar methodology
to that of inflows. The estimates obtained for migrants remittances (both inflows and
outflows) largely depend on the quality of data obtained for the other BOP transactions
on the goods account, services account, income account, direct investment, portfolio
investment and other investment.


The current methodology has a number of weaknesses, the main ones being the omission
of transfers in kind and a portion of transfers through the informal sector. The omission
of transfers in kind is a result of the system used for capturing goods (both imports and
exports). While the source documents used by the customs authority to capture data on
imports and exports of goods provide for disclosure on the source of funding which
should include gift or donation for transfers in kind, little or no emphasis in most cases is
placed on this field and as a result data is not provided. Subsequently, all goods are
assumed to be financed by the financing items such as changes in currencies and deposits
etc. that causes the omission. Transfers omitted through the informal sector are those for
which the agents involved in the both the domestic economy and the non-resident
economy engage in a sophisticated method of settlement which involves either party

remitting the net amounts due in foreign currency at the end of the period. In most cases
the settlement results into a net inflow. The assumption that the transfers come in as
foreign exchange, which is exchanged for spending in the local currency at an authorized
dealer, is therefore violated because the informal agent settles domestically in the local
currency. In other instances, the informal agent also doubles as an importer, which even
complicates matters further as the settlement is done by sending a consignment of goods
equivalent to the amounts due.
The other weakness lies in the fact that the data estimated does not provide any additional
data for analytical purposes such as the origin of the transfers. The estimate derived is on
aggregate basis and is of very limited analytical use. This is exacerbated by the fact that
the migration statistics do not provide any indication on whether Ugandans leaving the
country intend to stay abroad for permanently or not – most especially for those who
leave the country with the intention of engaging in odd jobs without work permits.
Initially, we had designed forms for compiling the data through the ITRS system. The
forms designed provide for all transactions in accordance with the BPM5 classification.
However, this form has been misused, and despite the fact that reporting is done
regularly; there have been cases of misclassification for certain transactions. This is
worsened by the fact that what is reported in different returns rarely reconciles for
instance sum of daily returns for a month do not agree with monthly returns. In addition,
other sources of data rarely agree with returns through the ITRS. This has made it
difficult to rely entirely on the classification provided in the ITRS.

A two-pronged strategy has been designed to improve the data on migrant’s remittances.
On the one hand, we intend to capture data on migrant’s remittances to Uganda through
the National Household Surveys, which are carried out eve ry two years. A question has
already been incorporated in the survey planned for 2005. The other plan is to compile
data directly from all authorized agencies involved in money transfers such as
Commercial Banks, Foreign Exchange Bureaus, Western Union and Money Gram agents for shorter periods. This involves attracting informal sector agents involved in the
provision of money transfer services to the formal sector through the Foreign Exchange
Bill, which provides for non-banks to engage in such activities as opposed to the current
law. However, the success of this alternative depends on the reliability of the data that
will be submitted by each of the authorized money transfer agents and the extent to which
the newly approved Foreign Exchange Bill will help in providing the legal mandate to
collect the required data.

5,740 Posts
Hmmm...the country has no hope? I think it does. Anyway, it seems you had all the time in the world to post this about a country you wouldn't even give a damn about (pardon my french).
who ever said uganda has no hope is a fool. every rich country now would have started out poor. they need time to grow. If slavery never happened africa would be the richest countinent by far beleive me

5,740 Posts
I don't know of Ugandese that starve to death, SHOW YOUR SOURCE TO SUPPORT YOUR STATEMENT.

The only place that Uganda have problems is the Northern part that has been plagued by rebelions since the 80s.
80 percent of the work force is agriculture because of idi amin and m7 buisness was not possible. before they were in power uganda wasn not idependent (slavery) if your slave wat factory or office will u work in . besides the country main income is coffe an agricultural product so obviously 80 percent of workforce is agriculture.

5,740 Posts
uganda is doing just aswell as other african countries but it doing a mission to have good infastructure all its presidents were in power by military coo or rig votes. they have never had a proper goverment ounce that happens it will become so much better i beleive. for its independent years its only been through war such as idi amin rule of terror and the lra

5 Posts
Kazibwe praises Uganda’s economy

Uganda's economy is grow! She becomes more powerful by the day.

By Brian Mayanja

Uganda’s economy is doing well despite the global economic crisis, former vice-president Dr. Specioza Kazibwe has said.

She said many industries are being established and jobs created, an indication of a fastgrowing economy.

“People are working unlike in the US and Europe. This means there is market for the products,” she said.

Kazibwe was on Saturday opening a new Roofings Uganda project worth sh116m at Namanve Industrial Park in Mukono.

She attributed Uganda’s economic growth to the NRM government, which she said ushered in peace and security.

The former vice-president urged the people of Mukono to embrace the project, saying it would change their lives.

Kazibwe, also a presidential advisor on micro-finance, assured the residents that she would talk to the President to help farmers get roofing materials at low prices through the Prosperity-for-All programme.

Speaking at the ceremony, Mukono resident district commissioner David Matovu said investments like that of Roofings are product of good leadership in the country.

He asked the management of Roofings Uganda to set up more projects in the district to increase the revenue collection for the Government.

The company managing director, Lalani Skander, said his industry would employ 800 educated youth.

He said the project would also enable the people to have easy access to their products, adding that his company contributes sh50b as revenue to the
Uganda iss etting a example that the whole Africa shuld follow! :cheers:

73 Posts
Uganda's economy is grow! She becomes more powerful by the day.

By Brian Mayanja

Uganda’s economy is doing well despite the global economic crisis, former vice-president Dr. Specioza Kazibwe has said.

She said many industries are being established and jobs created, an indication of a fastgrowing economy.

Uganda iss etting a example that the whole Africa shuld follow! :cheers:
Are you serious, the building of roofs is your definition of Uganda setting an example. While China is building high speed rail systems that go over 200 miles per hour through more then 5000 miles of land. We have to think bigger, much, much bigger. That is why I hope for the creation of an East African Federation.

1,799 Posts
Are you serious, the building of roofs is your definition of Uganda setting an example. While China is building high speed rail systems that go over 200 miles per hour through more then 5000 miles of land. We have to think bigger, much, much bigger. That is why I hope for the creation of an East African Federation.
guy mr Kamau i support, building roofs is not an example, if it was making steel it would be an example but Uganda still exports steel, lets be serious

1,799 Posts
WFP buys sh94b Ugandan foodstuffs

THE World Food Programme (WFP) bought $50m (about sh94.3b) food in Uganda last year, according to Stanlake Samkange, the country director.

Through the Purchases for Progress (P4P) programme, WFP bought 7,940 tonnes of beans and maize, especially from small-holder farmers.

In total, the agency has bought 139,905 tonnes of beans in Uganda since 2002.
Samkange said the programme aimed at increasing direct assistance to small-scale farmers and support to the Government’s poverty eradication efforts.

Most of the food is distributed in Uganda and the remainder goes to neighbouring famine-struck countries.

“WFP has been spending $50m annually on buying food in the recent years. Buying local food has direct benefits for Uganda in terms of increasing agricultural productivity and boosting economic growth,” Samkange noted during an interview with the The New Vision.

He revealed a proposal to double the purchases next year. However, he said this will depend on whether Ugandan farmers can increase production to meet the demand.

“We want to ensure that incomes of small-holder farmers increase and enable them to earn a better living and educate their children,” Samkange said.

1,799 Posts
Investors get Namanve land

DR Maggie Kigozi(UIA Director)

A total of 230 local and foreign investors have been successfully been allocated land in the Kampala Business Industrial Park. The KIBP is located at Namanve, 11 kilometers along Kampala-Jinja highway.

This follows a long and thorough evaluation process based on the Public Procurement and Disposal of Assets (PPDA) guidelines.
The large, medium and small investors are expected to invest a total of $2.7 billion (Shs5.049 trillion). The successful projects are expected to create at least 60,000 jobs directly; there-by boosting UIA’s five-year investment strategy to attract about 1 million jobs by 2012.

In an interview with Daily Monitor, Executive Director, Uganda Investment Authority (UIA), Dr Maggie Kigozi said: “In trying to offer the land to investors, UIA has tried to ensure frugality, transparency, equity and fairness”.

“The evaluation process has been quite protracted because it was necessary to first put in place adequate policies and safeguards to ensure that the objectives of the Government of Uganda are realised,” She added.

About 805.4 acres have been allocated in the first phase out of 1,269 acres of the total land offered; leaving 463.3 acres for transport and logistics and some other new applicants.

The land allocated ranged between 0.4-30 acres; and the minimum one is expected to pay is $80,000 (Shs149.6 million).

Kigozi said through consultations with various stakeholders, they formulated policies and guidelines. Pricing of the plots was among the crucial policies that UIA had to go through.

“In April 2009, the Cabinet approved a pricing policy for the KIBP land. The policy provides for the terms and conditions for occupancy of the park in order to maximize Uganda’s economic gain from this key strategic infrastructure investment,” Kigozi added.
Land evaluation was the other issue that had to be looked into and to qualify; the project had to contribute to the development of the economy. This looked at the number of jobs, planned investment.

“We also had to take into account the level of exports of the project and the tax contribution of an existing company,” she said.

For a project to get a plot, its financial strength and ability took into account the ability of the promoters/investors to raise finance to implement the planned project(s). For existing investments, financial appraisal of the business was performed.
In effort to protect and preserve the environment; the potential environmental impact of individual projects was highly considered.

The technical aspects: Justification for the amount of land applied was based on the factory layout and the proposed investment in built-up space, national/regional projects were also assessed.

Incentives to attract strategic investments into the KIBP and other Government-owned parks.

In accordance with the approved pricing policy and also in order to maximize the benefits of attracting strategic investments into the KIBP, the Government of Uganda has put in place special incentives. Five (5) investors were allocated 30 acres each and these included: Comesa Technology, National Housing, Plasnet Limited, Roofings Limited and Uganda Baati.
Four (4) projects were allocated 20 acres and these include: Valley View Estates Ltd, Fang Fang (U)/Sogea (U) Ltd, Kampala Modernity Stationers Ltd and Meera Investments.

Ten (10) investors received each 10 acres; while 74 investors were allocated each 1-1.5 acres, 49 investors each got 2-2.5 acres, 22 investors received 0.5 acres. A total of 20 investors each got 3 acres these included Publications Ltd. among others.
The projects are mainly: Agro-processing, ICT, and Business out Sourcing (BPO); Minerals Beneficiation and Hotels which will qualify for fully subsidised land.

“For an investor to fully qualify for subsidised land; investments have to exceed $1 million per acre, with 80 per cent of exports valued added products, with local employment not less than 30 and a minimum of 15 skilled workers,” Kigozi said.

Meanwhile UIA is not only focusing on the development of Industrial parks in Kampala alone, work progress on the 22 other parks countrywide are underway. The parks are located in Mbarara, Mbale, Soroti, Lira, Gulu, Lira, Arua, Kampala has Bweyogere and Luzira industrial Business Parks.
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