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Archive for the tag “Kabale”

Joint Communique on the occasion of the Official Visit to Uganda by His Excellency Paul Kagame, the President of Republic of Rwanda (25.03.2018)

1. At the invitation of His Excellency Yoweri Kaguta Museveni, President of the Republic of Uganda, His Excellency Paul Kagame, President of the Republic of Rwanda, paid a one-day Official Visit to Uganda on March 25, 2018. His Excellency President Paul Kagame was accompanied by the Minister of Foreign Affairs, Cooperation and East African Community and other Senior Government Officials.

2. The two Heads of State held Official Talks at State House, Entebbe in a cordial and friendly atmosphere on a wide range of bilateral, regional and international issues.

3. Their Excellencies noted the existing bonds of friendship and mutually beneficial cooperation between the two countries and reiterated their commitment to strengthen them further. In this regard, they reviewed cooperation particularly in the sectors of railway and air transport as well as electricity interconnection.

4. The two Heads of States observed that the Joint Permanent Commission (JPC) between the two countries provides a good mechanism for discussing matters of mutual interest and strengthening cooperation. They therefore directed their Ministers responsible for Foreign Affairs to convene the next JPC within three months.

5. His Excellency President Yoweri Museveni congratulated His Excellency President Paul Kagame, the Government and people of Rwanda on the successful hosting of the historic African Union Extra Ordinary Summit in Kigali on March 21, 2018 during which the Agreement establishing the African Continental Free Trade Area as well as the Protocol on Free Movement of Persons were signed.

6. The two Heads of State reiterated their commitment to the economic integration of Africa, accelerating industrialization, development of regional and continental infrastructure to improve the livelihoods of the peoples of Africa. His Excellency President Yoweri Museveni commended His Excellency President Paul Kagame, in his capacity as current Chair of the African Union, for his leadership.

7. His Excellency President Yoweri Museveni expressed his appreciation to His Excellency President Paul Kagame for honouring his invitation and for the fruitful discussions they held. His Excellency President Paul Kagame, on his part, expressed his appreciation to His Excellency President Yoweri Kaguta Museveni, the Government and people of the Republic of Uganda for the warm reception and hospitality accorded to him and his delegation during the visit.

8. His Excellency President Paul Kagame extended an invitation to His Excellency President Yoweri Museveni to pay a State Visit to the Republic of Rwanda. The invitation was gladly accepted and the dates will be agreed upon through diplomatic channels.

Done on March 25, 2018, in Entebbe.

FOR THE GOVERNMENT
OF THE REPUBLIC
OF UGANDA

_____________________________
HON. SAM K. KUTESA
Minister of Foreign Affairs
FOR THE GOVERNMENT
OF THE REPUBLIC
OF RWANDA

_____________________________
HON. LOUISE MUSHIKIWABO
Minister of Foreign Affairs, Cooperation and East African Community.

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FDC opens up for an audit of Presidential Election of 2016: However, I doubt Mzee will ever do it!

The Forum for Democratic Change (FDC) dropped today a report on the first 100 days of Patrick Oboi Amuriat as the Party President. This is a transparent and open move, to show what is happening behind the scenes, also show what they are doing at Najjanankubi Headquarters. It isn’t just mere hearsay, but recorded for the future to back-into the promises made and the building of party organization. This show resiliance, but also strength in the midst of oppression.

The paragraph that catched my eye was this one:

Review of the initiatives on 2016 Election Audit process

A number of development partners and donor agencies have been met to highlight what went wrong in the Presidential elections of 2016. The failure of government to implement recommended electoral reforms and the rushed and forceful amendment of the constitution were addressed to the country’s

partners. The Party is persuaded about the reluctance by Mr. Museveni to agree to an Audit of the 2016 Presidential elections outcome. Whereas we are open to dialogue, we wish to maintain our demand that this will only be based on the Audit of 2016 Presidential Election being on top of the Agenda” (FDC, P: 10, 2018).

After a hurdle of an election, a rigged affair with a math question, a questionable equation that doesn’t fit the numbers. That is what the Electoral Commission dropped in favor of the National Resistance Movement and the President for Life Yoweri Kaguta Museveni. Therefore, the lines here from the FDC. Says a lot about the stalemate, that the lacking care and the forced changes of the Constitution with the Amendment, that gave him life presidency. That has been more vital for the regime, than making sure there is provisions for free- and fair election.

The FDC knows that the NRM will not audit or have serious look into the General Election and the Presidential Election of 2016, because the NRM knows what the result will be. Therefore, the agenda of the FDC will not change the matter. The ghost of the past will come out and scare Museveni in his sleep. He has stolen and rigged a victory. That the donor agencies and development partners have gotten information is fine, but they are still supporting and working directly with the NRM. They have not stopped being partners with Museveni, even if they know that he has stolen it. The NRM rigged it and took the Republic for a ride.

The wish for dialogue with Musevni, will only end-up in fashion of Nairobi-talks of the past. Museveni will never accept to lose, he might play, but he will end on top. If not there isn’t anything in it for him. The President is only in it if he gets to eat and be the king. If the President isn’t king, than he will not accept anything. He knows that it was rigged and it was rigged on his orders. Therefore, an audit cannot happen, because then the obvious rigging will be exposed.

So, POA and FDC can wish for dialogue on this, but they are losing the premise. I think they know that, but it shows character that it is mentioned nevertheless. Peace.

Reference:

Forum for Democratic Change (FDC) – ‘OFFICE OF THE PRESIDENT – 100 DAYS’ (19.03.2018)

Opinion: The EU is too late to the Party, when they are now asking for Electoral Reforms in Uganda!

It feels deliberate, that Eduardo Kukan dropped a statement on the 8th March 2018 as the General Election in Uganda was in February 2016. That is two years after, this is the Follow-Up Mission to the Electoral Observation Mission, that is long finished and didn’t deliver anything of significance. The whole thing ended up being a charade and mockery of the principals the EU is supposed to stand for. The rigging, the spending and buying votes, the inside deals and pre-ticked ballots should all say that the re-election to a fifth official term and unofficially 7th shouldn’t be legitimized by any entity. This is the same fellas that left Kololo, because the President’s stance on the ICC. Like they didn’t know?

So, we are in March 2018 and its two years and a month since the entered the port and all of the containers are left, all produce is eaten, all parts of the products is sold, stolen or gone. Therefore, there is very little to regard about the process. Very little the EU can do, because they are beholden to the man they validated. They validated the Supreme Court ruling, they validated the Mbabazi petition, they accepted the stolen votes from Besigye and the obvious lies of the Kiggundu Electoral Commission in favor of Museveni.

The EU should have pushed for the reforms in 1995-1996 if they we’re serious. While the President still looked like he cared a little bit and was a donor-friendly guy, now he despise anyone questioning him and his authority. He is always right, and the rest of you is wrong or can be bought. That is President Museveni now. They could have had a short in 2000-2001, even 2005-2006. Even as the term-limits was deposed at the time. When the true reality was that Museveni had no place of really retiring and spend time with his cows. The EU could have pushed for reforms in 2010-2011, even as the Walk to Work demonstrations (W2W) and the Activists 4 Change (A4C) who both challenged the Presidency. Clearly, the EU could have done more as an outside entity, if they cared about the Electoral Reforms.

So now, that the last election went through, the syncopates, the technocrats and cronies of Museveni is elected, appointed as advisors and whatnot. The EU is asking and begging for changes, since suddenly now is the time. Like Museveni would care about the plight of the Follow-Up Mission in 2018, when he just gotten his carrot in December 2017, the Life Presidency. Did the EU miss that charade? Did they sleep in Brussels and eating Belgian waffles? That is how it seems to me.

That the President that has centralized most of the power around him and his State House would now care about the EU, is to say bluntly naive. That the EU comes with recommendations now will not be listened too. Unless, they are dropping bunch of external funds and juicing the rabbit a little bit. Because Museveni is eating, his cronies is too and there is nothing you can tell him.

So when the EU stated this on the 8th of March 2018, its not hard to understand, why it is like this: “ The EU EFM has been heartened to find that the recommendations of the EU EOM have been disseminated across several institutions of State and that many interlocutors were familiar with the content of the recommendations. While there has been virtually no progress on implementation of the recommendations to date, awareness of proposals, and the grounds thereof, is a crucial first step in the achievement of the recommendations. Similarly, there is widespread awareness of the directives of the Supreme Court” (Eduardo Kukan – ‘EU Election Follow-up Mission to Uganda urges Authorities to take positive steps to improve electoral process’ 08.03.2018).

Like did you think the man, that has been running since a coup in 1986 would give in and change to a more democratic structure, the one who house-arrest his biggest threat without any jurisdiction or right by laws? Do you think the man who has all the state coffers, has all the bidders at his feet, will finally give way to your advice? Do you think the man who has used the guns to silence opposition and does it will kind of acronyms too.

I hate to say it to you Kukan, but your late to the party. The party-goers have left, they have their whiskey, their Waragin, their vodka and their Nile Brew, but are not interested in your anecdotes. They would have mattered some time ago, when the fire was burning, when Usher and Radio & Weasel was banging on the stereo. But now, the party has died down, the only left is the straws and the memories of the late night charade.

Kukan, you should have acted swiftly, you should have cared about the implications, but your entity and others validated Museveni. Just like you have done in the past. You let him of the hook and this here, will be a stain, but not something that covers the obvious. The theft of February 2016. That you accepted and did for selfish reasons beyond me.

You could have, you should have, but you never did. Peace.

Stanbic Bank Uganda – Public Notice: “Corporate Re-Organization of Stanbic Bank Uganda Limited” (19.02.2018)

Uganda: The Electoral Commission Press Release – “Suspension of Electoral Programme for Administrative Units (LC 1 & II) and Woman Councils and Commitees Elections, 2017” (13.11.2017)

Bank of Uganda report spells out growing non-performing loans and possible default of 9 banks!

Bank of Uganda’s late Annual Supervision Report of 2016 is finally out. Instead of mid-year, it was released in September. It must be reasons for that, since this is in the year two banks lost their balance and one was traded to another. The Crane Bank sale-off and losses have started most people, as also the expensive pens of the Bank. Therefore, with the procurement of pens must be the reason why the months from July to September to see the Annual report. The 2016 spreadsheet isn’t a fun read, it is dire and says something about the financial institutions, as well as the economy in general.

This report are telling stories of bad performing loans and the quality of them. When looking into that, you know that this is banking practice that supposed to be profitable. To loan money away that people save in the bank and gain interests. So, when the numbers are this crunching. When the state of affairs are so dire. When Government Securities and shortfall is what they are. Then you know there are failing prospects. As this the year after campaigns and elections. It is usually painful after the heavy spending and brown envelopes to anyone who support Mzee. That is why the costs and the non-performing loans are growing. But where that money went, is only known by the elite and the NRM. Take a look!

Non-Performing Loans:

The analysis of default by the banks’ three largest borrowers and an increase in NPLs by 200 percent revealed large potential losses. It showed that if each bank’s three largest borrowers were to default, with a loan loss of 100 percent, 13 banks would become under-capitalised with an aggregate capital shortfall of USh.513.86 billion. If NPLs were to increase by 200 percent, assuming the increase is in the loss category which requires full provisioning, 9 banks would become under-capitalised with an aggregate capital shortfall of Ush.247.39 billion. A decrease in interest income from government securities would not require any additional capital from the banks” (BoU, P: 4-5, 2017).

Loan Quality:

The banking sector’s overall asset quality continued to decline in 2016. The ratio of non–performing loans to total gross loans increased from 5.3 percent in December 2015 to 10.5 percent in December 2016. The increase in the NPL ratio was mainly on account of bad loans which more than doubled from USh.573.4 billion in December 2015 to USh.1,203.2 billion in December 2016” (BoU, P: 15, 2017)

Earnings and Profitability:

There was a drop in profitability of the banking sector in 2016. Annual after tax profits reduced by 44.2 percent or USh.239.1 billion from Ush.541.2 billion in 2015 to USh.302.1 billion in 2016. Average return on total equity (ROE) dropped from 16.0 percent to 8.3 percent while return on assets (ROA) halved to 1.3 percent during that period. Total expenses grew by 9.3 percent, mostly in the form of interest expense on deposits. Increased provisioning for bad debts also reduced the banking sector’s earnings for the year under review. Provisions rose by more than 100 percent, by USh.419.4 billion to reach USh.637.2 billion in 2016” (BoU, P: 16, 2017).

So this growth isn’t making the economy more healthy. It is more bad loans and losses of profits. The bankers are not benefit ting and the costumers will pay for the shortfall in the long run. The assets and the basic needs will not be covered. The dangerous levels of NPL can even kill of more banks. As the reports not spelling out the names, but saying 9 banks could be under-capitalised, that means the government has to come in with security to put the bank on its feet or trade it off. Like it did with the Crane Bank recently.

Therefore, there are warning signs of continuing to borrow without security for repayment on the debt. That gives way for non-performing loans. This is the whole idea and reason for the problems the 9 banks have. As the costumers and corporations borrowing funds, without capacity to repay. That means the planned interest, the planned profits and repaid funds disappear. So, the more borrowed funds to try to catch the losses, is creating a evil spiral of losses. Instead of generating the profits and interests as anticipated.

Clearly, the banking sector needs a revamp and the system needs a push to make sure they are run smooth. As the consequence of continuing like nothing, is that further banks will default and costumers will lose savings and the state has to cough-up funds to save the scraps of a bank. Peace.

Reference:

Bank of Uganda – ‘ANNUAL SUPERVISION REPORT’ (December 2016) Volume 7 (06.09.2017)

Uganda Local Government Workers Union (ULGWU) letter to PM Dr. Ruhakana Rugunda – “Reminder: Remunerations Enhancement for Local Government Workers” (29.08.2017)

#BoUPens: BoU bought cheap Cross Ball-Pens for a fortune!

I hate to say it, but the magical pens from the Bank of Uganda (BoU) wasn’t a fairy-tale as expected. It was a cheap corporate pen, that was bought for astronomical sums. They are not so expensive after all. It is Cross Rolling Ball Pen Nor Onyx AT0155-1, the price of this not as high as the Bank paid for it. Unless, they wanted to pay of their importers major profits, however, the Bank must have connections with the traders who sold it to them. If not, why did they pay so much for Cross Ball Pen in the first place.

First, the social commentary from earlier this month:

Hey, Bank of Uganda, the glorious BoU, if you ever need any sort office equipment. I can sell it to you and at lesser cost. It will be fraction of the 357,000 Uganda Shillings per Pens or 125m shillings for 350 pens. At the dollar-rate, you paid $105 United States Dollar for each pen, they must be magnificent and the best pens ever made for the mankind” (Minbane – ‘ Opinion: Bank of Uganda must have bought magical pens!’ 16.08.2017 link: https://minbane.wordpress.com/2017/08/16/httpwp-mep1xtjg-5gh/ ).

Than, by the price of $105 USD for every single Cross Ball Pen, which was made in China. These Ball Pens are really overpriced. On the American Amazon.com price are $36.62. The Amazon product explanation: “Onyx black resin finish with polished chrome appointments – Click off cap accented by a wide chrome band and a sophisticated perforated clip design – Includes one black gel ink rollerball refill (#8523) in pen – Cross Rollerball pens can be converted into a ballpoint pen or creamy porous felt-tip pen by changing the refill to desired type of tip (Refills sold separately) – Presented in a gift box” (Amazon – ‘Cross Aventura Onyx Black Rollerball Pen (AT0155-1)’ link: https://www.amazon.com/Cross-Aventura-Black-Rollerball-AT0155-1/dp/B0017UGOZC).

So if the Bank of Uganda are importing the pens, than the price would go up. Both most like not cost more than maybe around $60 USD a pop. Clearly, the BoU are liking the idea of the overpaying the pen. The Bank might have bought it from places like Corporate Gifts Pens, there they would get discounted for amounts of pens they would by. That is like if they buy over 100 pens, around $24,79, so the price of pens would be cheaper. Even engraved pens cost added on that page $5 each, that means the price would be around $29,79.

Still, with that the price difference are $70-75, which has to paid extra to the providers or suppliers. The government and the Bank of Uganda must be really proud of who they bought it from. If not, the Chairman or the leadership of the BoU really know the family or written-off the profits to paid their mortgage.

This here was not about quality or unique pen. Just a very ordinary pen. Not even in the quality of the Parker Pens. The BoU has really scammed the people and the Bank doesn’t care about the misuse of state funds. Peace.

Kaabong By-Election Woman MP: NRM candidate won – Declararation Form (29.08.2017)

Uganda: Electoral Commission Statement – “Programme for Conduct of Administrative Unite (Village and Parish Level) and Woman Councils and Committees (Village to National Level) Elections, 2017” (24.08.2017)

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