By Andrew M. Mwenda In the 1999/2000 financial year, the total budget of the government of Uganda (tax revenues plus foreign aid) was Shs 1.9 trillion. The budget for 2009/10 financial year is Shs 7.6 trillion ‘ a 400% increase. In dollar terms (the exchange rate of the shilling to …
Read More »Leaked report on oil deals puts pressure on govt
By Ariel Rubin A scathing new report issued by the London-based environment and governance watchdog Platform has put government and oil companies under fire. Revealing for the first time one of the production sharing agreements (PSAs) between Heritage and the government, Platform’s analysis reveals that, contrary to oil company and …
Read More »Zain gains subscribers, records Shs 7bn net loss
By Joseph Were It has not been a wonderful world at Zain Uganda according to its official third quarter financial statements. The telecom giant recorded a net loss of US$ 3.6 million (approx. Shs7 billion) over the three months’ period ending September 30 on top of a 27 percent drop …
Read More »Digital TV comes at a cost
By Joshua Masinde Ugandans are set to enjoy improved reception quality, a variety of channels, clear audio signals, and sharper visuals with the adoption of digital broadcasting. The switch to Digital Terrestrial Television (DTTV) is being engineered by Next Generation Broadcasting (NGB) and Uganda Broadcasting Corporation (UBC). NGB Executive Director …
Read More »It’s all Smiles
By Joshua Masinde 7th phone firm promises cheaper calls Ugandans have a reason to smile. They have a seventh telecommunications operator to choose from. Aptly called Smile, the new company which launched operations last week promises cheaper call rates. Smile CEO, Irene Charnley said its target is the segment of …
Read More »Uganda’s financial markets have become deeper, more sophisticated
By Patrick Kagenda Bank of Uganda last week issued a Shs 60 billion 10 year bond and will issue another bond of a similar magnitude at the beginning of December. The Independent’s Patrick Kagenda talked to Stephen Kaboyo the director Financial Markets Department at the central bank. What financial instruments …
Read More »Guards earn peanuts to watch over millions
By Mubatsi Asinja Habati John Okumu was recently recruited as a guard with Saracen Uganda Limited, a private security firm. Okumu says his financial situation has been harsh ever since he began his job. After the six weeks of training Okumu and his colleagues spent footing the rent and feeding …
Read More »Why Draru may not be only killer of Kazini murder
By Okello Lucima I have been wondering what in military parlance and war tradition, it would mean for a private to single-handedly slay a general on the battlefield. Would one be promoted from private to, say, Captain; Major; Lieutenant Colonel or Brigadier? Surely, those who understand military customs and practices …
Read More »Kazini joins others
By The Independent Team Mysterious deaths under Museveni, Obote regimes Someone dies in a motor accident; another person is hit on the head by a woman; while another is shot dead. Death could visit anyone in Uganda, anywhere, anytime. So why will people not accept it when it happens to …
Read More »We shall confront election theft
By Onghwens Kisangala All elections in Uganda since independence have been marred by rigging and other malpractices perpetuated mostly by state agencies such as the Electoral Commission and security organs. However, for the first time, civil society has joined the fight against election malpractices and misinformation under their platform Citizens’ …
Read More »