Business

UCC directs TV broadcasters to provide sign language services

The Uganda Communications Commission has directed all television broadcasters to provide sign language interpretations in their programming or risky closure. The commission’s executive director, Eng Godfrey Mutabaazi, told Daily Monitor that broadcasters must without fail provide for the service in their newscast menu or risk grave repercussions.

Court imprisons broker over tax evasion

The Anti-Corruption Court last week remanded a broker to Luzira prison on allegations of tax evasion amounting to Shs1.9 billion. Mr Paul Gurindwa a.k.a Tumusiime, the director of GS Uganda management Limited, was remanded by Chief Magistrate Irene Akankwasa basing on Section 168 of the Magistrates Court Act.

Growing internet usage spurs innovations

In the last five years Uganda has posted growth in internet usage, and as competition for market share and subscriber numbers in the data market gets tight, players have resorted to collaborative partnerships to ride ahead of rivals.

Risk protection still low among financial institutions - survey

The implementation of enterprise risk management progammes among financial institutions in the region has remained low, even as competition, volatilities in the business environment and threats posed by new technologies increase, according to a new report.

Akamba Bus Services suspend operations

Uncertainty hangs over the future of Akamba Bus Services, one of the oldest and largest transport companies in East Africa. The development is likely to change the state of regional bus transport services as players move to win over Akamba’s former customers. Early this week Business Daily reported that the bus company had ordered all its fleet off the road with operations suspended until further notice.

Bankers urged on improving financial inclusion

Players in the financial sector must seek for ways to reduce the gap between the banked and the unbanked, according to Mr Paul Musoke, the Housing Finance Bank deputy managing director.

Kenya plans new regulation to protect farmers

The Kenyan government will regulate and control prices of agricultural and livestock products to promote the sector’s growth and protect farmers from exploitation by unscrupulous middlemen.

Private sector credit to stay subdued

Growth in private sector credit is expected to remain subdued as the central bank continues to pursue a tight monetary policy. Growth in private sector credit has dropped to 21.7 per cent as of March 2012 compared to 46.4 per cent in the third quarter of 2011.

Zuku drags Bukedde Tv to court over contract

Pay television provider, Wanachi Group Uganda has sued Bukedde Tv for allegedly violating what they described as ‘fair competition and equality of treatment.’ Ms Wananchi operating under the Zuku brand alleges that Bukedde TV, a local broadcaster signed an exclusive contract with MultiChoice Uganda despite being a free-to-air channel.

Govt to formulate policy on bottled water products

Ms Kyambadde said: “Uganda has a booming bottled water industry; however, it is under threat by increasing underground businesses that manufacture fake and substandard products.” Uganda has about 40 registered water bottling companies with a number of others operating underground.

President makes calls for increased investment capital

Regional integration of capital markets, allowing investors in one country to purchase and trade securities issued in other countries will expand the pool of capital available to firms.

Workers’ savings may earn improved interest

Savers with the National Social Security Fund may earn higher interest on their savings this financial as the fund anticipates surpassing its 2010/11 performance.

AfDB gets nod to issue bonds on Uganda’s capital market

The African Development Bank (AfDB) has received approval from the government to issue shillings denominated bonds on Uganda’s capital market.

Inflation threat simmers even as global food prices decline

Global food prices eased in April after rising in the first quarter of the year, the United Nation’s food agency said, but inflation worries are still simmering.

Weak laws aiding growth of counterfeits

Weak laws have turned Uganda into a hub for counterfeit goods and substandard, according to private sector players. Uganda has become one of the biggest dumping grounds for counterfeit and substandard goods threatening local industries and manufacturers.

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