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Archive for the category “Economy”

Zimbabwe: ZNA letter to President Mnangagwa – “Re: Nurses Grievances” (21.06.2019)

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Botswana: Press Release – Adjustment of Minimum Wage for 2019/2020 (19.06.2019)

Zimbabwe: ZHIDA & ZINA letter – “Re: Incapacitation of UBH Health Workers due to Economic Crisis” (21.06.2019)

The UTL Saga: The Walking Dead run by Ghosts!

Ever since the Libyan ownership of Uganda Telecom Limited went away, the company has been in the hands of the government. The company have lacked funds and investments, therefore, lacking the structure to even compete with Airtel and MTN Uganda.

Still, with this the in mind, earlier in the year of 2019. The UTL was searching for new private ownership, but without any luck. This company has been overtaken by the state in early 2017 and has never recovered.

So, too top it off, yesterday, State Minister for Investment Evelyn Anite claims the state has lost control of the company and that ghosts ran the UTL from Mauritius. Non-Existing Ghosts from the Island Paradise, whom run the company and been in charge. This as the company have been for two years under the control of the state, but apparently only on paper and not in real life.

The UTL is already a shipwreck; the boat is sinking and doing so, steadily for years. Ever since 2016 and the fall of Libyan investments has silently killed the company. Even if the state wants to save MANGO. It surely isn’t doing it properly and someone is scheming behind the scenes. Because, the company is still operating and able to keep services to the public. Even if they are weaker and older functions, than what Airtel and MTN provides now.

That the state is in such a disarray, that the company it has tried to get investors into investing in. Has executives, which is non-existing, that the Auditor General is not allowed to investigate and the Courts has to decide if a probe is possible. That the Speaker Kadaga have asked for a Parliament study of it. Shows what sort of altitude of nonsense that is operating.

Therefore, we are now in 21 June 2018, a company been run by the state since about 1st March 2017 and was in limbo already in late 2016. Nevertheless, the state should have gotten things fixed and have had the time to adjust the company for re-sell, if it was working on that. Alas, that seems not like it, as it is just another buy-bust and quick fix scheme. That is why the Ministry of Finance, the Auditor General or others cannot asses the financial aspects or documents from the UTL. Because, the UTL want to hide their blessers and who they are blessing.

We could laugh and smile about it, but this is a wastage of state funds, of state resources and of due diligence by the state. A state, whose main bank also shown signs of lacking protocol, so this is in a long line of lax security and lacking incentive to do proper work. The state could have salvaged something in late 2016 or early 2017. When the Libyans pulled out and the state took over. However, the state wasn’t prepared nor having the funds to make a swift delivery of the company to new ownership. Therefore, they have hold on to a company, which they clearly cannot control or have access too. Still, they are forking up needed funds when it asks. Since it is now a State Owned Enterprise.

UTL saga is sign of disgraceful, distasteful and disregard for the state, by state actors and state operators, whose taking the state and the public for fools. Instead of solving a problem, getting proper investors or even trying to make a company viable again. It is pumping blood to a dying corpse. Hoping no one is catching an eye and seeing the walking dead. Peace.

Zimbabwe: ZCTU letter – “Re: Urgent Need To Convene the Tripartite Negotiating Forum” (17.06.2019)

Kenya: Council of Governors – Press Statement on the Division of Revenue Bill 2019 (17.06.2019)

Another day, another Bank of Uganda Scandal!

The Bank of Uganda has had their magical pens, they have had their crazy foreclosure of Commerical Banks and now they are procuring and producing banknotes without proper function of the state. This is inside trading and kleptocracy to another level.

The Bank of Uganda is already showing their acts, as they didn’t minutes to closure of a bank and not even following protocol doing that. In the same regard, surely there was no minutes written when the high ranking officials fixed and gotten specialized transport plane filled with billions of Ugandan shillings in freshly minted banknotes.

We know this is a game been missing and sudden death is coming quickly. Because this is a rotten institution to the core. There been proof over a long time, but with every scandal, there are meat to the bone. It is ready for a stew or barbecue.

This bank has been like this under the Presidency, ever since the cross-over of the double digits in 1987 and cut of 30% for the clients using it. This is how they do. The Bank of Uganda is the reserves and the securities for the regime. They do not care how they clear their tab, but the bank will fix it.

If the public cannot trust the inner-circle of the Bank. Who can trust it? Since the BoU is supposed to be the institution that ensures the currency and the economy together with the Ministry of Finance, Planning and Economic Development (MoFPED). They are supposed to deliver what the state needs and secure the economy together. These two institutions are supposed to be the bricks to secure the foundation. Instead, we are questioning one, that breaks down the bridge of trust. So, there is no possibility of crossing that river.

The Bank of Uganda has again come into trouble. Not that its shocking, been a minute where the bank was off the hook. But now the state is trying to fix it without arresting the ones doing the illegal deeds. Surely, these people will be off the hook and off the books, just like their mission was supposed to be. For some reason, the state want to reveal it and surely to embarrass someone behind it. Don’t expect them to spend time behind bars, because these people are connected with the kitchen cabinet and the high above. Since, if the BoU was really in trouble, they wouldn’t have gotten away with their previously done deeds. Therefore, there is more behind closed doors, than what we know.

The Bank of Uganda is in another scandal. It is not strange. Its anticipated, this bank is made to the fortunate and the ones in the inner-circle. The rest just got to beg for mercy. As long as this regime is in power. This will not change, because this not profitable. But as long as it is… it will keep up and the leadership will continue. Since, the President trust them and knows they are carrying water for him. They are getting a cut for doing it too, as long as they are not telling the public.

That is why this latest is a leaked story to get rid of a inner-circle dude, who the leadership doesn’t like or trust. They feel he cannot be one of them and need him to humiliated. The President knows this, the Speaker knows this and the Parliament knows this too. However, they will not say it.

The Bank of Uganda is rocked by another scandal and its not shocking. What it was that it wasn’t bigger and more people getting a cut. It should have been more of the big-men connected with a piece of the trade-off. Because, they didn’t get it. They had to blow the whistle, then it wasn’t acceptable. Peace.

BoU Scandal: Speaker Rebecca Kadaga letter to PAC-Cosase Chairman on “Re: Re-opening the Investigation into the Bank of Uganda Closure of Commercial Banks by the Committee on Commissions State Authorities and State Enterprises” (10.06.2019)

Opinion: Boris the Blade, sorry Boris of the Tories at the helm?

Abed Nadir: “Chaos already dominates enough of our lives. The universe is an endless raging sea of randomness. Our job isn’t to fight it, but to weather it together, on the raft of life. A raft held together by those few, rare, beautiful things that we know to be predictable” (Community, Season 3, Episode 4, 2011).

Well, it the Conservative and Unionist Party, the Tories elects Boris Johnson to take over the helm after Theresa May. Surely, the Brexit will end in an utter fiasco, the party will be in shambles and the populists will get a hold of power.

Boris is the sort of man, whose had no trouble stabbing people in their back and moments later kissing their asses. That is just who he is, also is a womanizer, racist and a man of total disregard of people, except himself. An Etonian without no high regard for the common man, except when he needs their votes.

Who knows if he will beat Dominic Raab, Michael Gove, Jeremy Hunt, Matt Hancock or Rory Stewart, because this is just first of plenty of votes. Even if Boris got the best results in the first tally in the internal voting. However, this is just the start, but shows some intent.

That Boris is the frontrunner and has such a big margin from the get-go is a worry, as the signs of the tides, which are ahead. That the MPs are voting in favour of him. Shows also their fear and their reckless attitude towards it all. Boris wasn’t a smooth operator as a Foreign Secretary, he didn’t deliver anything substantial or help the Brexit Process as an Brexiteer. No, he did nearly nothing, just like several other hard-liners.

Therefore, this vote will be a shambles, this is the mere travesty, where the Tories get to have a new vote, to have a referendum on their leadership. While the public have to look at it and squint at it too. While the Tories themselves will not give the public a second chance for a snap election nor a new referendum, as the Brexit is already a beacon of self-destruction. Just that the leadership of the two major parties won’t say that, in fear of the fearmongering salesman of Nigel Farage and Company.

If Boris Johnson takes over, expect more resignations, more troubling negotiations and also fabulous expenses put without consideration of the tax-payer. That is the sort of man he is and he shows it again and again. Boris will misuse the power he has and scrap vital things, just to have the seat. He just don’t care, as long as his the king.

Boris will not bring wealth, stealth and health, only chaos.

This is the darkest timeline, surely, the Community show warned us, but we didn’t listen. It was shambolic under PM May, but will not become smooth sailing under the leadership of Johnson. He will only undermine himself and his allies, he will come with empty pledges and knowingly, know that the EU will not comply. Because, he knows this, but want to be popular in the eyes of the people, even if it means not staying true to the reality. That is why the Brexit process been such a mess and continues to be so.

Boris the Blade, Boris Johnson will not succeed, it isn’t in him. He might win this leadership contest, because of his savvy ways with political infighting, but externally. He will loose, BIG. Peace.

New details in the UN Experts Report: On the Illegal Gold Export from Butembo to Uganda!

This is now more than known, that the Gold Refinery in Entebbe is a source of gold from Democratic Republic of Congo. Where the illicit gold export persists. This is a problem, where the state are not able to catch and the wealthy traders in Butembo/Bukavu bribe the local government associates. This here is showing how the President of Uganda and his family is involved in the illegal trading of gold. As the African Gold Refinery, which the First Family is owning is involved in. They are not transparent and for the reason, that the state doesn’t want to take responsibility for this trade.

“Several sources associated with gold trade told the Group that wealthy traders in Butembo and Bukavu or buyers in transit countries and Dubai financed the smugglers, enabling them to buy gold and transport it to foreign markets. Two sources directly involved in such transactions with gold traders based in Butembo told the Group that traders with no affiliation with the gold trade lent money to their bosses. The latter used the money in order to buy gold in Butembo. Traders who lent money were paid back in cash, either in Kampala or in Dubai, by those who received gold. The Group believes that circumventing the banking system through gold-based financial transactions generates a lack of transparency and violates the recommendations of the Financial Action Task Force as reflected in Congolese legislation” (Final report of the Group of Experts on the Democratic Republic of the Congo, P: 35-36, 2019).

“Uganda declared gold exports of 12,000 kg, but the United Arab Emirates said that it had received 21,044 kg of gold from Uganda” (…) “The Group noted that, at the time of writing, the authorities of Uganda had failed to send the Group the report of their investigations into the activities of Kampala-based gold traders, as officials had promised. On 16 January 2019, the Group met with representatives of African Gold Refinery Ltd. (AGR) at AGR premises in Entebbe, Uganda, and discussed in particular the fact that AGR had yet to provide the names of its suppliers to the Group” (Final report of the Group of Experts on the Democratic Republic of the Congo, P: 36, 2019).

This is just verified reports from the United Nations Experts, whose investigated it. They have digging deeper. The Report is continuing to show how the state is benefiting of the illegal trade, as long as the Democratic Republic of Congo is missing it. They are being looted by illegal logging, trading, smuggling and not doing due diligence of the mineral resources produced there.

The Ugandan authorities doesn’t care that this is stolen and not verified, as the refinery is showing that they are not caring about the production or the proper protocol of the mineral production, as long as they are profiting from the illicit trade. This is the moral of the story, as the elites of Kampala are eating of the illegal trade. They are doing this and continuing to do so. Peace.

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