News & Articles – Procuremate Magazine https://procurement.co.ug Procurement & Supply chain Management News Magazine Tue, 29 Oct 2024 11:42:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 https://procurement.co.ug/wp-content/uploads/2025/03/cropped-Facebook-profile-pic2-scaled-1-32x32.jpg News & Articles – Procuremate Magazine https://procurement.co.ug 32 32 Uganda Revenue Authority (URA): Commercial goods luggage exceeding 50 kg is now taxable https://procurement.co.ug/uganda-revenue-authority-ura-commercial-goods-luggage-exceeding-50-kg-is-now-taxable/ https://procurement.co.ug/uganda-revenue-authority-ura-commercial-goods-luggage-exceeding-50-kg-is-now-taxable/#respond Tue, 29 Oct 2024 11:31:51 +0000 https://procurement.co.ug/?p=3899 Under its new guidelines to streamline passenger baggage clearance procedures, the Uganda Revenue Authority (URA) will now collect taxes on any dutiable items in passenger baggage exceeding 50 kilograms.

These goods include phones, shoes, perfumes, clothes, phone accessories, motor vehicle spare parts, Information Technology (IT) equipment, and goods belonging to corporate bodies or companies that are imported as passenger-accompanied baggage.

By procedure, passengers with affected luggage will have their baggage transferred to the cargo terminal for normal customs clearance, requiring traders to use their tax identification numbers.

Robert Kalumba, URA’s Assistant Commissioner for Public & Corporate Affairs, says this measure aims to close a revenue leakage gap, where passengers have exploited the baggage exemption window to import goods without paying taxes. Some traders have also used it as a smuggling route.

These new guidelines are part of the ratification of the East African Community Customs Management Act (EACCMA) fifth schedule amendments, which increased the allowable limit for passenger baggage from USD 500 to USD 2,000 for passengers who have been outside the country for a period exceeding 24 hours.

Kalumba notes that the passenger baggage allowance applies to accompanied baggage in the name of the benefiting passenger and does not apply to gifts, goods for distribution, or items for commercial sale. “The exemption also does not apply to items that belong to a company imported as passenger-accompanied baggage,” he clarified.

In compliance with Section 46 of EACCMA, 2004 (as amended), passengers are required to declare to the URA officer and provide an authentic receipt of purchase confirming the value in their name. “The passenger allowance does not apply to goods sent by other persons through the passenger for delivery to a third party in Uganda,” Kalumba emphasized. “These exemptions are subject to quantity limitations and the fulfilment of conditions specified in item 5 of the fifth schedule of the EACCMA, 2004 (as amended).”

For Ugandan residents returning after at least one year abroad, the guidelines state that personal and household effects will be exempt from taxes, provided the goods were used and are for personal use in their previous residence. These items will also be cleared through the cargo terminal.

“However, contraband items such as used refrigerators, used computers and used televisions are not allowed into the country and will be forfeited to the state after the payment of the applicable penalty,” Kalumba further states.

The law also provides for specific limits for passengers arriving from outside Uganda as follows: Spirits – maximum of 1 litre; Wine – maximum of 2 litres; Perfumes and toilet water – maximum of 250ml; and Cigarettes, cigars, cheroot, cigarillos, tobacco, and snuff total weight not exceeding 250 grams.

With 19 scheduled flights to major trade hubs including China, India, Dubai, and Turkey, Uganda’s trade activities have expanded, increasing the risk of non-compliance, with some passengers disguising trade goods as passenger baggage to benefit from the exemption. In response to this surge in trade and the potential risks, URA has updated customs clearance procedures to ensure efficiency and compliance.

According to Kalumba, these new guidelines not only ensure tax compliance but also reduce the turnaround time for the entire handling process. “Passengers who arrive with goods subject to payment of taxes will undergo a simplified customs clearance process, where taxes payable are assessed immediately,” he explained.

He added that taxes must be paid within two hours to avoid congestion, failing which baggage will be transferred to the cargo terminal for further processing. He concluded by stressing the importance of these changes: “We urge passengers to familiarize themselves with the new guidelines, which are not only aimed at facilitating trade but also ensuring smoother customs clearance for all.”

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Trade Relations Among EAC Member States: A Balancing Act. https://procurement.co.ug/trade-relations-among-eac-member-states-a-balancing-act/ https://procurement.co.ug/trade-relations-among-eac-member-states-a-balancing-act/#respond Tue, 25 Jun 2024 13:21:08 +0000 https://procurement.co.ug/?p=2904 The African Continental Free Trade Area (AfCFTA), which came into force in 2021, has also provided a broader framework within which EAC member states are operating. The alignment of EAC regulations with AfCFTA’s broader goals has further facilitated intra-regional trade, offering new opportunities for businesses across the region.

Trade relations among the East African Community (EAC) member states are currently navigating a complex landscape, balancing between notable progress and persistent challenges. The EAC, which includes Kenya, Uganda, Tanzania, Rwanda, Burundi, and South Sudan, continues to strive for deeper economic integration, yet faces hurdles that need addressing to achieve its full potential.

Over the past years, there has been significant progress in several areas. The implementation of the EAC Single Customs Territory (SCT) has streamlined customs procedures, reducing the time and costs associated with cross-border trade. This initiative has particularly benefited landlocked member states like Rwanda and Uganda, ensuring quicker and more efficient access to international markets through the ports of Mombasa and Dar es Salaam.

The African Continental Free Trade Area (AfCFTA), which came into force in 2021, has also provided a broader framework within which EAC member states are operating. The alignment of EAC regulations with AfCFTA’s broader goals has further facilitated intra-regional trade, offering new opportunities for businesses across the region.

Despite these advancements, several barriers continue to impede the seamless flow of goods and services. Non-tariff barriers (NTBs), such as roadblocks, weighbridges, and bureaucratic red tape, remain significant challenges. These NTBs increase the cost of doing business and often result in delays that affect the competitiveness of EAC products in the global market.

The EAC Secretariat has been proactive in addressing these issues, with concerted efforts to harmonize standards and regulations across member states. Initiatives such as the EAC Trade and Investment Framework Agreement (TIFA) aim to create a more predictable and stable trade environment, encouraging both intra-regional and foreign direct investment.

Stakeholders are optimistic about the future, with calls for stronger political will and commitment to the principles of the EAC Treaty. Private sector involvement is also crucial, as businesses are the primary drivers of trade and economic growth in the region. Enhanced public-private partnerships (PPPs) could play a pivotal role in overcoming the existing challenges.

As the EAC moves forward, the balance between progress and challenges will define the trajectory of trade relations among its member states. Continued efforts to foster a conducive trade environment, coupled with strategic initiatives to address existing barriers, will be essential in achieving the vision of a fully integrated and prosperous East African Community.

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Uganda Government unveils plans to support local exporters https://procurement.co.ug/uganda-government-unveils-plans-to-support-local-exporters/ https://procurement.co.ug/uganda-government-unveils-plans-to-support-local-exporters/#respond Thu, 20 Jun 2024 08:57:55 +0000 https://procurement.co.ug/?p=2863 The Permanent Secretary at the Ministry of Finance, Mr Ramathan Ggoobi, has outlined strategies on how the government intends to support producers and service providers who engage in exporting.

Mr Ggoobi made these statements during a post-budget dialogue for the Financial Year 2024/25 in Kampala on Wednesday.

The dialogue was organised by Civil Society Budget Advocacy Group (CSBAG) in collaboration with Advocates Coalition for Development and Environment (ACODE) and other partners in Kampala.

Mr Ggoobi, who is also the and Secretary to the Treasury, affirmed that the government will foster export growth and development in the upcoming financial year by creating a favorable environment for producers and manufacturers to access foreign markets.

He encouraged citizens to embrace exporting and assured them of government support.

“Exports are key drivers of economic growth and prosperity, and the government is fully committed to assisting those with the capacity to produce and export,” said Ggoobi.

He said economies thrive when they engage in exports and reiterated the government’s dedication to supporting those capable of producing and exporting goods and services.

According to Ggoobi, when households produce goods for the market and export a portion of their products, it creates job opportunities, generates significant revenue for the government, and contributes to the country’s gross domestic product growth.

Ggoobi also noted that the budget for the Financial Year 2024/25 has been designed to cater to various social groups, including the youth, women, and the elderly.

He highlighted the numerous opportunities available for women entrepreneurs, not only in terms of resources but also in terms of development services.

He further stated that the budget for the upcoming financial year presents increased opportunities for the participation of all Ugandans in the economy.

Ggoobi outlined the budget priorities, which include investing in the people of Uganda through initiatives in healthcare, education, and water.

He also said wealth creation programmes such as the Presidential Development Initiatives, Emyooga, among others, as well as efforts to reduce electricity costs and improve road infrastructure.

Addressing concerns about debt, Ggoobi assured that Uganda has implemented measures to manage debt effectively, thereby avoiding unsustainable levels (fiscal consolidation agenda).

Ggoobi also launched the Citizen’s Feedback platform, developed by the Office of the Attorney General, aimed at bridging the gap between citizens and the government.

Dr Arthur Bainomugisha, executive director of ACODE, praised Uganda’s economic resilience and growth in a recent address.

He highlighted that Uganda’s economy grew by 6 percent in the last financial year, outperforming other East African countries, except for Rwanda, which achieved 8 percent growth.

“Uganda has exhibited remarkable economic resilience,” said Dr. Bainomugisha. “We have grown at a rate of 6 percent, surpassing Kenya’s 5.6 percent and Tanzania’s 5.4percent.”

He commended the Ministry of Finance, civil society, and the Bank of Uganda for their efforts in sustaining and advancing the economy despite global challenges.

“I would like to congratulate our Minister of Finance, the Permanent Secretary, and their teams, as well as civil society and the Bank of Uganda, for keeping our economy afloat and continuously growing,” he said.

The current budget for the Financial Year 2024/25 stands at 72.1 trillion Ugandan shillings, which Dr. Bainomugisha highlighted as one of the largest in the region, surpassing Tanzania’s budget. However, he emphasized the need to address various challenges in order to improve service delivery and living standards.

“While having a substantial budget is commendable, we must work collaboratively to tackle challenges such as climate change, which can undermine our economic progress,” he said.

“Adapting to and mitigating climate change are crucial for sustaining our development.”

Dr Bainomugisha also stressed the importance of prudently managing national debt, considering its potential impact on the economy.

“Debt servicing is a major concern. We must exercise caution in how we contract and manage our debt to avoid any disruptions to our economy,” he cautioned.

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Eastern Traders shun UGX 25.4Bn Busia modern market https://procurement.co.ug/eastern-traders-shun-ugx-25-4bn-busia-modern-market/ https://procurement.co.ug/eastern-traders-shun-ugx-25-4bn-busia-modern-market/#respond Sun, 16 Jun 2024 08:48:10 +0000 https://soledaddemo.pencidesign.net/24h-news-magazine/fitness-lifestyle-not-motivated-to-workout-for-your-fitness-and-health-change-your-mindset-copy-78-2-2-2-2-2-2-2-2-2-2-3-17/ Busia | June 2024.

Busia produce dealers have shunned the  shs25.4-billion government market, saying the design and plan of the facility does not suit their businesses.

This has left 333 produce stalls under lock and key ever since 2020.

Constructed under the markets and agricultural trade improvement program, Busia Central Market was commissioned by the government in December 2020 to host over 2000 vendors.

However, the modern market that was purposely constructed to contribute towards the national strategy of prosperity for all is yet to realize its objectives.

The storage facilities with capacity of over 3000 tonnes of grain, has remained redundant with all the 333 stalls under lock and key.

Produce dealers have continued to operate in dusty environments, protesting the market design that they say is not suitable for their business.

“You find that a person dealing in produce is given number 310, 320 in upper floor. There is no way someone can care a bag of maize or a bag of beans up the upper stores. That is the most thing that has affected, ” said Richard Wesonga, chairperson Busia produce dealers.

The group argues that the stalls being upstairs, makes it costly for storage of products.

Milly Katamba, one of the produce dealers confessed to Nile Post  how the cost of loading goods inside stores is expensive.

“Loaders ask for about 2000 per each bag they take upstairs yet that is the profit we normally get after selling a bag of maize. Now if you pay that will you remain in business?”

Muhammad Kadoli is yet another produce dealer who has since opted to do his business along streets to him, the entire construction of the market was badly done.

” This market was constructed like arcades not like a market. When you look at how the market was constructed, 90% is not workable” said Kadoli.

These now demand that for the multibillion facility to be fully utilized, the government should think of reallocating the stalls in a manner that can fit all businesses.

“Stalls should be re-allocated so that those dealing in produce are put down and those dealing in items like clothes, source pan put up” said  Wesonga.

The office of the RDC said they are trying to resolve the impasse.

” The issue of the design is above us but its good that the ministry has also noted it and we’re waiting for his communications ” said RDC Grace Kanuna

With the mess said to be hindering the government commitment towards servicing the loan that was used to construct the market, district security heads are not ready to sit and watch this happen.

“Why should we abandon the market on  our own and again cry that government has not helped us? We’re ready to use all our energies to fight those sabotaging the government program,” Kanuma added.

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The New ”Beer Tax” set to bite the alcohol industry in Uganda. https://procurement.co.ug/the-new-beer-tax-set-to-bite-the-alcohol-industry-in-uganda/ https://procurement.co.ug/the-new-beer-tax-set-to-bite-the-alcohol-industry-in-uganda/#respond Fri, 14 Jun 2024 08:48:10 +0000 https://soledaddemo.pencidesign.net/24h-news-magazine/fitness-lifestyle-not-motivated-to-workout-for-your-fitness-and-health-change-your-mindset-copy-78-2-2-2-2-2-2-2-2-2-2-3-8/ For many Ugandans, the thought of beer conjures warm memories, cheers with friends, or a cold drink at the end of a long day.

However, they will in the coming financial year dig deep into their pockets to have their favorite drink as the government slapped more taxes on beer.

Finance minister, Matia Kasaija on Thursday announced taxation measures targeting the alcohol industry, particularly imported brands of beer and wine. While some analysts had suggested that, the budget for the financial year 2024/25 was not too “tax laden” the minister slapped Shs 1,000 on each kilogram of powdered bear.
This alcohol exercise tax is likely to affect the final price of this type of beer. Powdered beer has recently been a beer of choice by some revelers in some of the top bars and clubs. Unlike the bottled beers on the market, the powder imported from countries like Germany instantly turns into beer once mixed with water.
The minister also announced an increase in excise duty on imported wines from 80 per cent or Shs 8,000 per litre to 100 per cent or Shs 10,000 whichever is the highest. Players in the breweries sector have in the past raised alarm about exercise duties on beer. Current beer made from malt has a 60 per cent duty or Shs 2,050 per liter, whichever is higher, opaque beer 12 per cent or Shs 150 per liter, whichever is higher.
In March, Uganda Breweries Limited (UBL) managing director, Andrew Kilonzo warned against the plans by the government to impose a 20 per cent tax increase on both locally manufactured and imported spirits. He revealed that Uganda’s exercise duties on spirits were twice higher than those in other East African countries. Kasaija did not mention new exercise duties on the spirits meaning that the old ones still stand.
Other taxes 
Bearing in mind that taxes form most of the collections to finance the budget, the minister announced Shs 100 on a liter of diesel and petrol. He also imposed excise duty on adhesives, grout, white cement, and lime. This according to the minister was s to align the tax treatment of these products with that of cement.
Mobile money withdrawals
When the new budget comes into effect, withdrawals of money from other platforms other than mobile, money will be subject to an excise duty at a rate of 0.5 per cent of the value of withdrawals. This will not apply to withdrawals from agent banking or banking halls. This measure is likely to hurt those who operate on electronic banking wallets.

Value Added Tax (VAT) 
To facilitate the growth of e-mobility and affordability of electric cars and motorcycles and protect the environment. Kasaija announced that the supply of electric motorcycles, vehicles manufactured or fabricated in Uganda, and their respective charging stations and batteries for electric motorbikes, charging stations, and related services are exempt from tax.
Taxing gifts from employers
The minister announced that starting next financial year, the provision of taxable goods/services by an employer to an employee would attract VAT. This issue generated debate in parliament. MPs reasoned that if a company for instance, produces cement and donates bags to its employees of cement for self-development, the gift would be subject to VAT.
Income tax 
The government will with effect from the next financial year investors from tax capital gains arising from the sale of holdings in private equity or venture capital funds regulated by the Capital Markets Authority. According to Kasaija, the intention is to incentivize private equity or venture capital investments in Uganda.
Tax holidays
The government will provide tax holidays on the income of a person who manufactures and fabricates electric motor vehicles, electric motorcycles, electric batteries, and electric vehicle charging equipment, as well as the income of a person who develops, establishes or operates a medical facility or hospital facility.

Some civil society actors have in the past warned the government against such blanket tax holidays saying they normally end up denying the country access to revenue.

Uganda Revenue Authority has indicated that the country loses about Shs 160 billion annually due to foregone corporate income tax mostly from multinational companies because of tax holidays.

”We have extended the waiver of penalties and interest on arrears outstanding by June 2023. This waiver will apply when the taxpayer pays between July and December 2024, and we have also introduced a 10 per cent withholding tax on commission paid to the banking agents and fintech agents (payment service providers),” said Kasaija.

Public debt
The minister reported that Uganda’s total public debt stood at Shs 93.38 trillion, equivalent to $24.69 billion. Of this amount, external debt was Shs 55.37 trillion equivalent to $14.64 billion while domestic debt was Shs 38.01 trillion equivalent to $10.05 billion. The public debt is projected at Shs 97.638 trillion, equivalent to $25.716 billion by 30th June 2024.

The minister reported that in nominal terms, Uganda’s public debt to GDP was estimated at 9 per cent in June 2023, and is projected to end at 47.9 per cent this financial year ending June 2024.

“This is below the 52.4 per cent threshold provided for in the Charter for Fiscal Responsibility for the financial year 2023/24, and less than 50 per cent of GDP government policy target for debt sustainability,” he said.

Kasaija noted that although Uganda’s debt has increased, it is still sustainable and the government is committed to keeping it sustainable.

“Most importantly, the money we have borrowed has been invested well and these investments have started to give good returns,” said the minister.

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UCDA says farmers will now be allowed to bypass middlemen, export coffee directly https://procurement.co.ug/ucda-says-farmers-will-now-be-allowed-to-bypass-middlemen-export-coffee-directly/ https://procurement.co.ug/ucda-says-farmers-will-now-be-allowed-to-bypass-middlemen-export-coffee-directly/#respond Wed, 12 Jun 2024 08:48:10 +0000 https://soledaddemo.pencidesign.net/24h-news-magazine/fitness-lifestyle-not-motivated-to-workout-for-your-fitness-and-health-change-your-mindset-copy-70/ Starting next year, coffee farmers in Uganda will be able to directly sell their coffee internationally, following an announcement by the Uganda Coffee Development Authority (UCDA).

This significant shift comes as the licenses of the agencies that have traditionally bought coffee from Ugandan farmers will expire on December 31, 2024, and will not be renewed.

During a meeting with farmers in the Lwengo and Lyantonde districts, UCDA Barley Officer Wasswa Charles explained the upcoming changes.

“All the companies which export our coffee are not for Ugandans which means that all the profits which we have to gain are the ones who gain it and we praise them for being rich. The owner of Ibello is a German company which has the biggest estate in Africa. He knows what he got from coffee. It is on record that one kilogram of kase these companies take it at shs12,900  which makes three  dollars but they sell that kilogram at 75 dollars that is 260,000 shillings,” Wasswa said.

He also added that Ugandan coffee is mostly sold in Italy and Germany.

“This move will empower our farmers to improve their earnings and have more control over the quality and pricing of their coffee. We believe this will also enhance the overall quality of Ugandan coffee as farmers will be directly involved in every step of the export process.”

Coffee is a crucial commercial crop for Uganda, especially for those living in rural areas.

Despite Uganda’s significant coffee production, much of it has historically been sold through intermediary agencies. This change aims to improve transparency and ensure farmers receive fair compensation for their hard work.

Research indicates that Brazil remains the world’s largest coffee producer, with an annual production of 60 million bags but 45 bags out of 60 remains inside their country.

However, Brazil’s domestic retention of a significant portion of its coffee is believed to be contributing to rising coffee prices globally, including in Uganda.

Ethiopia is noted as Africa’s largest coffee producer, yet Uganda leads the continent in coffee exports, often at competitive prices. The new directive from UCDA aims to similarly boost Uganda’s coffee export potential.

Charles Wasswa emphasized that this transition will also support the growth of farmer cooperatives, facilitating better market access and higher quality standards. “Forming cooperatives will streamline the process, making it easier for our farmers to meet international market demands,” he stated.

Wasswa said that UCDA has already embarked on registering coffee farmers because in this new move the farmer who will not appear on a list will not be able to export his coffee. Farmers have expressed optimism about the new opportunities, though some concerns remain.

“We welcome this change, but producing high-quality coffee consistently is still a challenge,” said Abdallah Ssemakula, a local farmer from Katuulo village in Lwengo district. “We are still grappling with high prices of fertilizers and coffee, yet the insecticides on the market are still fake.”

Adam Kalanzi a farmer from Kalyamenvu village in Lwengo district also said that thieves do not allow them to produce good quality coffee berries.

“Sometimes we are forced to harvest unripe coffee berries because we are afraid of thieves who steal our coffee from gardens and still we get forces of packing coffee which does not dry well because thieves steal it from the compounds.”

Farmers also narrate that the country’s economy forces them to sell their coffee before the harvest time.

To address these challenges, UCDA, in collaboration with the St. Ludovic Foundation, has launched a campaign to educate farmers on modern coffee cultivation techniques.

This initiative aims to prevent issues such as pest infestations and ensure sustainable farming practices.

Additionally, government’s self-development projects like Emyooga and the Parish Development Model (PDM) will provide financial support to help farmers adapt to these new practices.

Currently, 15 major companies, including Ibello and Kyagalanyi, dominate Uganda’s coffee export market.

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Culture & Oil and Gas activities co-exist for social and economic transformation https://procurement.co.ug/culture-oil-and-gas-activities-co-exist-for-social-and-economic-transformation/ https://procurement.co.ug/culture-oil-and-gas-activities-co-exist-for-social-and-economic-transformation/#respond Tue, 11 Jun 2024 08:48:10 +0000 https://soledaddemo.pencidesign.net/24h-news-magazine/fitness-lifestyle-not-motivated-to-workout-for-your-fitness-and-health-change-your-mindset-copy-78-2-2-2-2-2-2-2-2-2-2-3/ The Petroleum Authority of Uganda (PAU) joins Bunyoro-Kitara Kingdom to celebrate the 30th anniversary of the coronation of His Royal Majesty Dr Solomon Gafabusa Iguru I, the Omukama.

The Authority recognises the importance of preserving culture as an avenue for social economic transformation. Culture is therefore a key aspect taken into consideration while assessing the impact of the oil and gas projects. The projects exist in areas with diverse social/historical set up which defines how communities relate with each other. This manifests in the languages spoken, the values system of the people, how people respond to authority, and inadvertently the social and economic activities they choose to participate in.

The oil and gas sector also brings together people from different nationalities. For example, the National Suppliers Database has companies from 54 countries and over 19 different nationalities operating in the Albertine Graben. There is a need for the peaceful co-existence of these nationalities.

The Authority also works with cultural leaders at different stages of oil and gas activities to preserve culture. These leaders play a two-fold role. On the one hand, they provide information on key cultural considerations and parameters, which informs how the oil companies and their sub-contractors can preserve the culture. For example, understanding the staple food of the communities can tell the type of agricultural support the affected people receive during the livelihood restoration stage of the projects.

In addition, due to their level of influence, cultural leaders are integral in getting community goodwill towards the oil and gas activities and their contribution towards the region’s economic development.

In the oil and gas sector, cultural factors are considered at every stage of the value chain since the projects cannot exist outside the community. An assessment is therefore done to find out how the people and their socioeconomic life will be affected directly or indirectly. This assessment includes ascertaining whether any cultural sites will be affected by activities. These cultural sites can be places of worship, ancestral burial grounds, heritage sites and any other places of community significance.

Where it is established that oil and gas activities will affect any places of cultural significance, measures are put in place to preserve their integrity. For instance, a decision is made to avoid activity in these places so that there is no interruption to social-cultural activities. Where there is no alternative but to move the sites to another area, great care is taken to ensure that this is done in the most appropriate and culturally sensitive way.

The oil companies also run programmes to ensure that the development runs hand in hand with social/cultural sustainability.

CNOOC Uganda Limited and the Uganda National Oil Company (UNOC) support events such as the Bunyoro Masaza Cup and the Empango Run, which are organised to promote cultural pride while contributing to socio-economic issues like health. These programmes include supporting cultural events such as the Bunyoro Masaza Cup.

TotalEnergies has been working with the Cross-Cultural Foundation of Uganda to promote culture in Bunyoro, Bugungu, Alur and Acholi sub-regions. The programme encompasses several cultural aspects such as: identifying, safeguarding, and promoting traditional knowledge; enhancing the value of craft-making and traditional music; strengthening the organisational management skills of traditional music troupes and crafts workers; and boosting their publicity and marketing efforts.

Such initiatives foster intercultural collaboration and diversify goods and services in the creative industry within the oil and gas project areas and beyond. They also deepen awareness of the crafts industry, sports, and traditional music’s significance and role in enhancing community livelihoods through income-generating activities, skills development, creativity, and innovation.

The Petroleum Authority of Uganda stands in solidarity with the great people of Bunyoro-Kitara on this milestone.

Credit: PAU

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Ecobank Group launches 7th edition of fintech challenge -Winner will take home $50,000. https://procurement.co.ug/ecobank-group-launches-7th-edition-of-fintech-challenge-winner-will-take-home-50000/ https://procurement.co.ug/ecobank-group-launches-7th-edition-of-fintech-challenge-winner-will-take-home-50000/#respond Mon, 10 Jun 2024 08:48:10 +0000 https://soledaddemo.pencidesign.net/24h-news-magazine/fitness-lifestyle-not-motivated-to-workout-for-your-fitness-and-health-change-your-mindset-copy-78-2-2-2-2-2-2-2-2-2-2-3-11/ Ecobank Group has  officially opened call for applications to the seven edition of its Fintech Challenge.

This annual competition invites early-stage and mature fintech startups to partner with Ecobank, offering a grand prize of $50,000 and a chance to scale their solutions across Ecobank’s extensive network spanning 35 African countries.

Despite the fintech eruption in the African continent, a McKinsey report reveals that fintech start-ups in Africa are still facing several challenges such as reaching scale, navigating an uncertain regulatory environment, or managing scarcity of funding.

According to officials, the Ecobank Fintech challenge provides a unique opportunity for fintech entrepreneurs to address these challenges by not only offering financial rewards but by also providing Ecobank’s expertise in diversified markets operations and the right solutions to scale across its pan-African footprint and international presence such as France.

“Building partnerships with fintechs is a catalyst for driving financial inclusion in Africa. At Ecobank, we prioritize fintechs in our growth, transformation, and returns strategy ,” said Jeremy Awori, Chief Executive Officer of Ecobank Group.

“We have enhanced this new edition of the Ecobank Fintech Challenge to continue to provide fintech entrepreneurs with a premier platform to showcase groundbreaking solutions, while creating unparalleled opportunities for growth and expansion across 35 markets in Africa.”

Last year’s competition attracted 1,490 entries of real quality, which underscores the significance of this pan-African challenge.

Successful applicants reaching the grand finale and awards ceremony in October 2024 will have the chance to join the highly coveted Ecobank fintech fellowship programme, with the overall winner receiving a cash prize of $50,000.

Ecobank Fintech fellows will gain access to numerous opportunities through collaboration with Ecobank and its partners, potentially including  multinational product rollout with  an opportunity to integrate their solutions with Ecobank, opening doors to potential product launches within Ecobank’s expansive 35-country Pan-African network.

Fellows will also have an opportunity for service provider partnerships where selected fintechs may become Pan-African service partners within the Bank’s ecosystem.

Fellows will also receive exclusive access to Ecobank’s cutting-edge APIs, enabling them to test and develop their products for the Pan-African market and also get priority access to Ecobank’s Venture Capital partners for funding exploration.

Since inception, 60 fintech startups have been inducted into the Ecobank Fintech Fellowship.

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Press freedom is key for good Governance of Oil and Gas Resources https://procurement.co.ug/press-freedom-is-key-for-good-governance-of-oil-and-gas-resources/ https://procurement.co.ug/press-freedom-is-key-for-good-governance-of-oil-and-gas-resources/#respond Mon, 10 Jun 2024 08:48:10 +0000 https://soledaddemo.pencidesign.net/24h-news-magazine/fitness-lifestyle-not-motivated-to-workout-for-your-fitness-and-health-change-your-mindset-copy-78-2/ The media plays a crucial role in ensuring that Uganda’s oil and gas resources are managed in the best way possible. The best way being that these resources create value for Uganda and its citizens while leaving the communities and environment as good as or better than it was before the development of oil and gas.

The media plays its role by informing the public about what is happening in Uganda’s oil and gas sector. The sector is currently at the development stage with a high volume of infrastructural development and resource utilization —human and monetary, happening. A lot of what is happening is likely to miss the attention of the public if the media does not report on it. This is especially considering the mounting propaganda against Uganda’s oil and gas projects. Opponents of these projects are well-funded and therefore have the means to infringe on press freedom by facilitating news reports meant to derail progress.

Press freedom has always meant freedom from government interference but over the years, there has been growing interference from the private sector. When journalists rely on story count to earn a decent living, in-depth reporting and investigative journalism goes out the window. For the oil and gas sector this has meant that false  accusations from sponsored foreign media about Uganda’s oil and gas projects and their effect on the environment, for instance, is barely probed further by Ugandan journalists. Some of this is caused by a lack of interest and limited knowledge on the sector. A recent visit to one of the oil projects with some journalists revealed this when journalists were surprised by the degree to which biodiversity is factored into managing oil and gas resources.

This year’s theme for World Press Freedom Day is an opportunity for the media to take an interest in how the sector is minding the environment. The theme, “A Press for the Planet: Journalism in the Face of the Environmental Crisis”, presents a myriad of story pitches that serious journalists can explore. Stories on exploiting natural resources while being mindful of the environment for instance. Stories on how Uganda has taken its time to learn the best environment protection practices from other oil producers, and how these are being implemented.

Journalists can take advantage of the availability of information to address the misinformation and disinformation that is rampant, especially in digital media. The Petroleum Authority of Uganda recognizes the role of the media in ensuring transparency and accountability in the oil and gas sector and therefore responds to media requests for information.

A key strategy for press freedom is plurality. In the context of Uganda’s oil and gas sector, this would be where media houses from the national level to the community-based media in the Albertine Region report on the sector. That is why any media engagement in the sector involves journalists at the different levels so that they can ably report on the sector. Of course, as already mentioned, this is also an avenue for misinformation campaigns.

A free press will therefore require equipping journalists with the resources and information to stay the course of freedom of expression without interference. These resources are made available through partnerships between the different players in the oil and gas sector and the media. Whether it’s through conferences and events, grants and webinars or field visits, there are several resources for good journalists to pursue outside press statements, and beyond World Press Freedom Day.

Credit: PAU

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ED – PAU Commends SLB for fostering women’s advancement in science and technology https://procurement.co.ug/ed-pau-commends-slb-for-fostering-womens-advancement-in-science-and-technology/ https://procurement.co.ug/ed-pau-commends-slb-for-fostering-womens-advancement-in-science-and-technology/#respond Mon, 10 Jun 2024 08:48:10 +0000 https://soledaddemo.pencidesign.net/24h-news-magazine/fitness-lifestyle-not-motivated-to-workout-for-your-fitness-and-health-change-your-mindset-copy-78-2-2-2-2-2-2-2-2-2-2-3-18/ Mr Ernest Rubondo, the Executive Director of the Petroleum Authority of Uganda, has commended SLB (formerly known as Schlumberger) for its efforts in advancing women in Science and Technology. This commendation came during a meeting with Mr Wallace Pescarini, the President of SLB Offshore Atlantic Basin, held at Petroleum House in Entebbe. Mr Pescarini, currently in the country to participate in the STEM Forum for Women in the East African Region, hosted at the Kampala Serena Hotel, paid Mr Rubondo a courtesy visit.

The SLB Faculty for the Future programme, launched in 2004, grants fellowships to women from developing and emerging economies to pursue PhD or post-doctoral research in Science, Technology, Engineering, and Mathematics (STEM) fields at leading universities worldwide. Mr Rubondo noted that several Ugandan women have already benefited from this support and appealed to SLB for increased assistance.

“The initiative has promoted gender equality and women’s emancipation in science and technology. We understand that about seven Ugandan women have benefited from the programme. We hope to see these numbers grow,” said Mr Rubondo.

Mr Pescarini highlighted SLB’s longstanding partnership with Uganda spanning over 18 years, marked by continuous investment, national capacity development, and innovative projects ensuring the nation’s energy security.

“We acknowledge the crucial role of energy in driving Uganda’s progress and believe that collaborative efforts and shared objectives can lead to significant advancements in shaping a sustainable energy future for Uganda, while also addressing broader developmental goals,” Mr Pescarini remarked.

Currently, SLB is contracted to undertake directional drilling tasks on the Tilenga Project and provide software solutions for various oil and gas players involved in Uganda’s oil project. Mr Pescarini and the SLB team expressed their eagerness to collaborate closely with the PAU, discussing initiatives and potential areas of cooperation, exchanging insights, and outlining a path for mutually beneficial growth.

By supporting STEM research for female scientists in emerging economies, SLB aims to enhance scientific and technological progress within the local communities and regions where selected candidates are awarded this programme. Since its inception in 2004, the SLB Faculty for the Future programme has benefitted 863 women from ninety countries, enabling them to pursue PhD and post-doctoral research in STEM disciplines at leading universities and research institutions outside their home countries.

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