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Archive for the tag “#Scambailouts”

Opinion: Tired of NRM apologists defending the record of President Museveni!

It is depressing, it is sad and it tormenting to listen and read the defenses of National Resistance Movement. The defense of the 31 years of rule, the rule of the for life President Yoweri Kaguta Museveni and his cronies. The cronies and their 10th Parliament, the By-Elections that are rigged in favor of the NRM Regime. The government of Uganda is totally controlled by the one in-charge, the President and kingpin.

The Parliament are following orders and making amends to seem to be different. Therefore, the results of elections are more to just show overpower, but not to have real elections. As the NRM sends buses and pays of villages with small-fees and commodities. There aren’t anything fruitful or sincere by the regime. The ones who put dissidents in the Nalufenya prison. Where they will be beaten, tortured and get ill. As well, as in the overcrowded prison in Luzira. The organized silence of opposition, as their rallies are filled with tear-gas and police brutality. If not the ones who are feared by the NRM are put on treason charges and called terrorists.

President Museveni with his patronage, his bloated State House, the massive cabinet and the Presidential Advisors. There certainly enough ghosts, fake bills and misuse of state reserves to write books ten times thicker than the bible. We can know by the lost trillions of the Petroleum monies, as the “Presidential Handshake” is a drop in the ocean. As the UNRA and other agencies has misused the taxpayers monies. This happens with such ease and lacking finesse, but the agencies looking into graft and corruption is compromised, because the ones leading it are loyal Musevenist.

That the government and budgets are bloated. That the financial and economic state is in deep distress, as the state is suffering from lacking provisions and revenue. As well, as they are struggling with the stop of donor friendly relationships. People’s and Foreigners trust in the leadership of Museveni has been dwindling. President Museveni are also already prospecting the revenue of the oil and petroleum, even before it has surfaced. Therefore, the future will also be compromised by the deals done today.

The defenders of the NRM now, does not believe in real democracy, as they defending the rigging and militant Movement. A President who has no trouble with killing and destroying to stay in power. The ones defending him has no trouble to stand by a man who empties the treasury and state reserves with no hesitation. As well, as the men and woman who stays by the regime, are easily taking land and resources, they are eating of the plate and selling it back to the Ugandans. This with impunity and without any consideration of the ones who loses their chances.

It is a nation who has a government, not based on merit, but on loyalty. The loyalty to Museveni and his agenda. The agenda to work for him and his ideas. Not work to develop the nation, but develop the estate of Museveni. The idea of real Movement is ploy from the master himself. He just needs shadows to work for him and for envelopes. Not a real party who deliver policy or working for the future Republic. No the Movement is now a shell used pounce out the empty ideas of greed, nurture of the estates of Museveni and of the staging the power of the old-man with the hat!

President Museveni and his apologists knows all of this, they live by this and has faith that this is ideal and the dream. That someone comes with empty promises and lives by the fake party celebrating the 1986 coup. The coup that overruled the government and the old constitution, that President Museveni couldn’t pigeonhole. That has he done to his own and plans to do it again for his 8th Term.

The apologists can say he created safety, but he also created warfare and civil-war to get to power. Some called it a revolution, other calls it a takeover. But with time it wasn’t for the idea of a people’s government, but more a government and state built around the revolutionary, who didn’t really believe in the words he spoke.

The ones defending him, is defending a lie and that for the sake of eating. Not for the benefit of the Republic or the public. The struggling public is pawns, they are just needed props now and then for the Movement. As they praise their master, as they know if they get to close or too ambitious they are surely losing their place. Therefore, all of them are loyal cadres, elite and patrons who surely basks in the pasture of the President. But really, they should know it is on borrowed time. No-one knows how long the patronage and military can be serviced, how long they can all live on the charade and the misuse of power.

Certainly, the President knows this too, therefore, he uses all ways to make sure and get people on board. Even if that lets people starve, let them cheat on food reliefs and even use refugees as bailing-out card on the struggling economy. That is solely made of the patronage and grand-corruption orchestrated from the seat of the President at the Okello House. He can created all sorts of schemes and manufacture new ways of promoting better agriculture or better yields, but it is all ploys of generating more funds for his own. Not for the public to earn or get better output of the seeds and seedlings. If so, than the agricultural should be booming after 30 years in power.

However, the defense of this will be in the patronage and by the spokespersons appointed by the President. These ones will make a fuzz and say the Opposition never was a viable option and never had the leadership to overturn the Movement. The Movement has always been the only option, they say and use new ways of saying so. But that doesn’t make it true, as the rigging and the intimidation is used to forge this facade. The flawless untouched ballots doesn’t exists, there has been all sorts of play to get the will of the President.

President Museveni, even detain opposition, he uses safe-houses and some like Sam Mugumya are detained in the Democratic Republic of Congo, with no plan of getting him home. Him and others are lingering abroad as the political prisoner lingers in uncertainty. This is the legacy of the revolutionary, who became the draconian and the militarized government who uses all means to stay. He uses all methods on earth, Machiavellian and Orwellian blended in a Yellow Color with no fear of repression… no fear that the Movement can be touched, but when the moment appear. Than the Ugandans shouldn’t lose it, because they have already lost so much in the name of Museveni. Museveni has stolen the past and the present. His men has rewritten the history and tried to become the grand hero, and the generations from the rebellion is dwindling away. The young generation only knows the folklore and should beware, it is not all what it seems. The ghosts are not only in the budgets, but they are haunting the President from the past. They are the ones he stole to gain power and to silence the opposition. These souls will ask in the after-life, why he did what he did to them and also why he punished their grand-kids. Since they all lead the same faith. They all got to feel the pain, with no mercy from the leadership controlled by the President.

That is why there are no defending a man like Museveni. He has used all tricks, even was able to deceive the west for decades to pay for his decadence. Certainly, he must laugh about the dumb-white men and their agendas. His grin must be wide thinking of all the sorts of cars, airplanes and ranch expansions that are paid by the friends of direct-state aid. They have kept his roof and his ammunition, to oppress and to relief his patronage. Therefore, if someone is defending this man. Think of his track-record and all the souls he has left behind. Peace.

IMF statement on Uganda’s current Economic framework has a “grey” list, but a steady core inflation!

The International Monetary funds have concluded yet another visit to Uganda. As todays statement and insights to the economy is dim. There is not much prospects or much goodness to take out of it. Unless, you are thinking to invest while the inflations are rising and hoping it does not stop. Even though the needless to say, it has been like this before after General Elections in Uganda. That the economy has suffered a blow and a shock, which has hurt the economy and food prices. Therefore, sparked demonstrations and uprisings, like that last big one in Walk to Work and Activist for Change in 2011. It is clearly on the same path, but just in 2017 instead. President Yoweri Museveni likes to repeat himself!

“Inflation has edged up, mainly reflecting the effects of the drought. Food price inflation rose from 5 percent year-on-year in September 2016 to 22 percent in April 2017. With this, headline inflation recorded 6.8 in April 2017. Core inflation stood at 4.9 percent, in line with the Bank of Uganda’s (BoU’s) 5 percent target” (IMF, 2017). These numbers are showing the decline and increase of common commodities, even if the Core Inflation is around the estimated level; the food prices are showing the problems in the economy in general.

“The authorities have made some progress on structural reforms. Two structural benchmarks have been met on time, three with delay, and the remaining five are pending. Most notably, the authorities moved forward the legislative agenda that will support Uganda’s exit from the Financial Action Task Force “grey” list—the laws now await President Museveni’s assent. The Ministry of Finance, Planning, and Economic Development published reconciled reports on the stock of outstanding arrears at end-June 2016 (3.2 percent of GDP). Pending reforms include sending the BoU Act Amendments to Parliament, publishing the report on end-December unpaid bills, and sending to cabinet a policy for regulating mobile money” (IMF, 2017). The GoU and President Museveni have not complied totally and made laws objectively transparent. Therefore, there are laws awaiting the approval and be requested to Parliament, as the state reserves and budgets are still enforced with the will of the President. In addition, a proof of the maladministration is the amount of budget arrears that was in last budget year, which will hit the economy, as the bills have to be paid this year.

“Uganda’s external position is broadly consistent with fundamentals and desirable policies in 2016. The current account deficit is projected to temporarily increase over the next 5 years as infrastructure and oil sector investment ramp up further. Achieving the envisaged growth dividend of these investments is essential to maintaining external stability—just as for public debt sustainability. International reserves at end-December 2016 stood at US$3 billion (5¼ months of next year’s imports), above the adequacy level suggested by the IMF’s metric for credit-constrained economies. Going forward, the BoU can purchase reserves opportunistically and would meet the EAC convergence criterion of 4½ months of imports. The flexible exchange rate regime is serving Uganda well” (IMF, 2017). Therefore, the government and IMF envisions that the future prospects of oil monies will be sustainable for the current loans into infrastructure projects. It even envision it and with that will ensure external stability and trust into the economic climate of Uganda, that shows that the trust in future gains is the ones; that makes people have faith in the Ugandan economy.

This is all here proof in stated language that the IMF are looking through the budgets and their laws. Nevertheless, is not addressing the trillions shillings suddenly disappearing, neither the Presidential Handshake, as these are just figment of imagination for the foreign economic advisors. They just do not see it or does not want to see it. Peace.

Reference:

IMF – ‘Uganda: Staff Concluding Statement of the 2017 Article IV Consultation Mission and Discussions for the 8th Review under the Policy Support Instrument’ (16.05.2017) link: http://www.imf-fmi.africa-newsroom.com/press/uganda-staff-concluding-statement-of-the-2017-article-iv-consultation-mission-and-discussions-for-the-8th-review-under-the-policy-support-instrument?lang=en

Opinion: These two ideas shouldn’t be thing in 2017: Goats for tuition fees and Jerrycan-Irrigation!

NRM in July 2016 in Kakinga in Western Uganda.

In the Republic of Uganda and Zimbabwe there are two issues that should not occur or need to happen, as the societies under Zimbabwean African National Union Patriotic Front (ZANU-PF) and National Resistance Movement (NRM), that President Robert Mugabe and President Yoweri Museveni has been the Executives for decades.

These two republics has both their issues concerning these gentleman, though not the same. Still, the republics has some dire needs. You know so, when President Museveni has to spread this message in the year of 2017:

I continue to encourage farmers to use drip irrigation. Even as we wait for government to roll out mass irrigation, farmers can irrigate their crops with basic tools like bottles. No one should let seedlings go to waste on claims of drought yet we are surrounded by water” (Yoweri Museveni, 16.04.2017).

The Jerrycan and bottle irrigation mantra in the land of steady progress, you can wonder and pound about the agriculture reforms that was about to happen when the NRM came into power. Where the wealth creation and the cash crops we’re supposed to change the economic landscape. Still, since the Movement ceased power in 1986, the same President as back-then has to spread the message of a drip-drop irrigation system based on bottles and jerrycans. Instead of modern agriculture, because of how he misused the state reserves and the donated aid. Therefore, the lacking facilitation of agriculture. So it is sad to know that the President Museveni has to propagandize the jerrycan irrigation system, like it is a fantastic invention and something that would really be a paradigm shift.

Than you have in Zimbabwe, the county of the Lancaster House Agreement, the ZANU-PF elite and the Bond-Notes, with a massive movement behind the voices of opposition, as well as the financial troubles under President Mugabe. Who has turned the Southern African breadbasket unto a food-import heaven as his land-reforms has destroyed the agricultural production as well as the economic climate. Therefore this news shouldn’t be a thing of 2017!

Parents who cannot raise tuition fees for children can offer livestock in lieu of payment or do chores for learning institutions, a Cabinet minister has said. The Sunday Mail understands that several State-run primary schools in Glen View, Harare have already adopted the arrangement. Primary and Secondary Education Minister Dr Lazarus Dokora told this paper last week, “Our schools have to be flexible and ensure those who do not have money to pay fees can work. For example, if there is a builder in the community, he/she must be given that opportunity to work as a form of payment of tuition fees” (…) “On the issue of livestock, the community has to arrange a market where everyone participates; from the school authorities, local leadership and parents themselves to avoid parents being duped” (Gwete, 2017).

So in the proud republic of Zimbabwe the Cabinet Minister Dr. Lazarus Dokora, says parents who doesn’t have enough cash to pay tuition fees can now pay in livestock or goats. We know by now that the faith in the Bond-Notes is abysmal, still that the Republic has such little cash flow; that can take animals as payments. Shows the neglect of the state, the little money circulation and the financial vows right now. If the financial market and the currency we’re in a better condition, than such massive amount of parents wouldn’t have to trade their goats and livestock so their kids can go to school.

That under President Mugabe, the citizens have to use their livestock and goats as trading tools, or even as currency because of the lack of stable financial policies. This shows the draconian state and what sort of government that is in charge. When they are more concerned about their Mercedes Benz’s than the population!

That the Zimbabwean people and citizens of the Republic run by Zanu-PF should feel betrayed by the lack of governance and care of the taxpayers funds. The Zimbabwean people should be in sorrow as even as their state is insufficient, it now has a plan not to only eat their monies, but also take their animals. So that the future of Zimbabwe can learn how to read and write, even type and some hopefully understanding better what it means to be a Statesmen. A Statesmen that cares about its constituent and their struggles, not just eat of it and leave them to rot. That is what the Zanu-PF elite does right now.

What we have have seen with these two stories is clear lack of policies and wish to intervene in the struggles of the citizens. We can see two governments, that is Zanu-PF and NRM, who clearly are both out-of-time and out-of-pocket as they scrap their best ideas to salvage some hope. The hope is that some can be duped by the idea and support the so-called progress. That it is progressive to take goats as currency to pay for tuition and the other revolutionary idea of using bottles and jerrycans to irrigate the dirt. That President Museveni and President Mugabe is over-due is proof with this. The milk is thick and nasty. The milk is not drinkable and if so you will vomit. The reality is that these men doesn’t see or doesn’t want to see.

They are eating of the plate and sells their propaganda, the own mindset of lies and deception, and it has been said so many times that the old-men believes. Even if it isn’t so. The manufactured reality and the destruction of the society, is the reasons for these tales, many factors involved, but the Presidents has been there through the stages. They have seen it all and created policies that has changed to this level of underdevelopment. If they really did care, than the countries would have looked different. If they would have created parliaments for serving cadres for the people and not their own bellies like right now. That is why many of them think these sort of policies are acceptable and even profess to them. Therefore, the republic’s are living in a state they doesn’t deserve and the citizens are used as pawns. Peace.

Reference:

Gwete, Wendy – ‘‘Pay school fees with goats, labour’ (15.02.2017) link:

http://www.sundaymail.co.zw/pay-school-fees-with-goats-labour/

Public Notice: DFCU Bank Limited Takes over Crane Bank Limited (27.01.2017)

bou-dfcu-27-01-2017

31st Celebration of NRM Regime with a Yellow Jerrycan’s into the future!

NRM in July 2016 in Kakinga in Western Uganda.

NRM in July 2016 in Kakinga in Western Uganda.

The National Resistance Movement had their Celebration Party and unleashed their new ruling-party national newspaper. I thought that was the New Vision? Apparently, I am other we’re wrong on the Bukedde and New Vision ass-kissing mission during the three decades of President Yoweri Kaguta Museveni. Well, there is so much to celebrate for the NRM!

They have yet another election that rigged and had a new number of sole candidates without any competitions. This is a real victory like stealing candy from a little kid. The NRM can be so celebratory as they are having a too small Parliament, having to few cars for their MPs, added more debt every year into the state coffers with added interest rates on these loans. Together with the waiting of petroleum monies that seems more and more likely to happen closer to 2020 than ever.

NRM can celebrate that they have had a bunch of Vice Presidents, but none has outlasted the long-serving rebel on the throne, that has installed the Jerrycan irrigations as the State cannot afford proper relief or modern irrigation to the their farmers. The cash crops are also struggling as well as staple-food, even the cattle is dying in the cattle-corridor. The NRM has certainly built a perfect nation.

The Uganda Airways, Uganda Telecom, Uganda Broadcasting Company and others  are either gone, near depleted or living on their last legs. UTL the phone company is dead-broke and on life-support. UBC is the only State financed Television Company that couldn’t afford to get licence to send the African Cup of Nations from Gabon this AFCOM2017. NRM has so much to celebrate.

Certainly the lucky guests who got a Presidential Handshake can be all smiles and grin, as the illegitimate government are postponing and struggling with infrastructure projects, as they are all embezzlement projects for the UNRA to trick monies out of the state. The expenses or building roads have sky-rocketed, the Mukono – Katosi Road Project and Kampala – Entebbe Expressway is examples of the open-air bazar of looting under the NRM.

We can question the ambition of the NRM, as they have included all sorts of missions and promises. Most of them shelved out every election cycle, but then forgotten when the NRM MPs and President has entered the Parliament Avenue. The certainty of Steady Progress isn’t there, except for puppy talk of the loyal Musevenists.

nrm-m7-july-2016

This can be said as National Medicak Stores (NMS) are often empty of needed medicines or issuing issues with the sale of copy medicines that we’re not supposed to be on the market. The Hospitals lacking medicines, enough trained personnel, lacking payment structures and salaries as the nurses and teachers even have cash-crops or other jobs to survive. The lacking structure and care for the Health Care is evident as the Nobel men and honourable are travelling abroad for their curing of sickness, as even some of the Generals are suddenly dying as they are travelling to their Asian allies.

We can question if the NRM should celebrate that Nakasero Hospital is now seen as the National Referral Hospital instead of the historic hospital, the Kings Hospital Mulago, the Mulago Referral Hospital Complex that is even missing a well-working cancer machine. The only one that was last bought in 1990s and early in the reign of the NRM! The NRM forgot their mission and let it dwindle like so many other institutions; there are many hospitals without working X-Ray machines and other needed equipment to help the sick patience. This is happening on the daily. The responsibility of this fate is their maladministration and it’s all in the hands of the NRM.

Certainly they can take their Jerry-Cans into the future, with the yellow t-shirts and yellow flags. Still forgetting their mission and their purpose, they have forgotten why they exists! Since they are now only bowing their knees for the Mzee instead of workingfor the citizens. Right now the liberation was only liberating Museveni, but letting everybody else being under his mercy. That isn’t freedom, liberty or justice. That is a dictatorship and Museveni is dictating everything and behind all acts. Just like the biggest scam of 2017, the Presidential Handshake. That proves how little NRM Regime has to really celebrate. Peace.

IMF Executive Board Completes the Seventh Review Under the Policy Support Instrument for Uganda (11.01.2017)

UGX Pic

Uganda’s economy has performed reasonably well in a complex environment.

WASHINGTON D.C., United States of America, January 11, 2017 – On January 5, the Executive Board of the International Monetary Fund (IMF) completed the seventh review of Uganda’s economic program under the Policy Support Instrument (PSI).1 The Board’s decision was taken on a lapse of time basis.2 In completing the review, the Board granted a waiver of the nonobservance of the end-June 2016 assessment criterion on the overall deficit of the central government.

The PSI for Uganda was approved by the Board on June 28, 2013 (see Press Release No. 13/78), and a one-year extension was approved on June 6, 2016 (see Press Release No. 16/263).

Uganda’s economy has performed reasonably well in a complex environment. Growth slowed marginally to 4.8 percent in FY15/16, reflecting muted sentiment in an election year and adverse global and regional developments. The current account deficit improved by 1 percentage point to 5.9 percent of GDP, and the Shilling has stabilized after a sharp depreciation in 2015. Growth is projected to nudge up to 5 percent in FY16/17.

Program performance under the PSI has been mixed. Tight monetary policy in 2015 has helped contain inflation in the target range, and the Bank of Uganda (BoU) has started an easing cycle in April 2016. Reserve cover remains adequate. Fiscal revenue and deficit targets were missed, reflecting lower-than-expected growth and election effects. Investment spending fell short, while current expenditure overshot. Structural reforms have progressed, albeit with some delays.

The banking sector remains overall well capitalized, despite elevated non-performing loans. The BoU appropriately took over an undercapitalized bank and is identifying a strategic investor.

Uganda remains at a low risk of debt distress. The scaling-up of infrastructure investment implies a temporary increase in debt, putting a premium on domestic revenue mobilization and ensuring that public investment yields the intended growth dividend.

Looking ahead, priorities include close cooperation with the Financial Action Task Force to ensure Uganda’s swift exit from its “gray” list; strengthening domestic arrears monitoring; and amending the Bank of Uganda Act to reinforce central bank independence.

1 The PSI is an instrument of the IMF designed for countries that do not need balance of payments financial support. The PSI helps countries design effective economic programs that, once approved by the IMF’s Executive Board, signal to donors, multilateral development banks, and markets the Fund’s endorsement of a member’s policies (see imf.org/external/np/exr/facts/psi.htm). Details on Uganda’s current PSI are available at imf.org/uganda.

2 The Executive Board takes decisions without a meeting when it is agreed by the Board that a proposal can be considered without convening formal discussions.

A look into the Crane Bank sudden fall from Grace!

nbs-bou-20-10-2016

Mutebile says Crane Bank takeover was because it lacked sufficient capital and posed a systemic risk to the financial system” (NBS TV Uganda, 21.10.2016).

There are too many signs, but the sign today that shatters the fiscal policies not worth the ink printed on the shilling; is the fall of grace from the former engine of the economy Crane Bank Limited (CBL) that we’re owned by a foreign investor and even saved by European Investment Bank (EIB). The refuelled money came in 2014 and had record results in 2015. So it’s weird by May 2016 that the bank we’re all of sudden under heavy losses. It’s not like the ATM Museveni who emptied the State House and needed new funds after Campaigns of 2015/2016. So you start to wonder if this is connected to the #ScamBailouts of Companies that even had very many accounts at the Crane Bank.

There are so many questions and reasons if it is a plot behind the scenes as the Owner Sudhir Ruparelia. That happens with the takeover of National Bank of Commerce (NBC) even at some point to gain bigger markets in 2012.

“We have picked clues that it is about the way NBC was closed and hurriedly taken over by Crane Bank and the second lead relates to politics; there are some individuals who think that Sudhir could have bailed out President Yoweri Museveni with money from his bank during campaigns and so these are trying to spoil business,” the sources say, referring to a brief about the ongoing negative publicity about Crane Bank that was reportedly prepared by Economic Monitoring Desk in the Office of the President” (Eagle.co.ug – ‘Former Premier Mbabazi cited in Crane Bank woes’ 14.10.2016).

All of a sudden the bank even swindles the long-living Honourable Member of Parliament Sam Kuteesa:

A new scandal is raging in Crane Bank after its own staff stole Shs 846m from the bank’s customers. Of this, Shs 800m was withdrawn from the account of H.E Sam Kutesa, the President of United Nations General Assembly and Uganda’s Foreign Affairs Minister and the Shs 46m from other customers in Kabale district” (…) “We contacted Sudhir Ruparelia, the Managing Director of Crane bank and this is what he said: “It is not true anyone lost money. I don’t talk on phone to people I don’t know. Come to my office”. Later, his daughter said: “As a matter of policy, the bank cannot discuss details of a customer. If you want any help, write to me, I will see if can help you”. Kutesa’s aide, Joseph Barigye, speaking from New York in the US said the bank was “sorting the mess”. Meanwhile, the bank has tasked the Forex Manager to compensate the loss” (TheInsider.co.ug – ‘Crane Bank staff swindles Kutesa’s Shs800m’ 29.04.2016).

Newspapers Same Scandal Uganda

In December 2015 an unknown bank could be closed by BoU:

“A highly placed source working with the said bank, told Newz Post that the regulator is concerned with the state of affairs at this commercial bank. The bank of all bankers has advised that something be done urgently or the worst might happen to this bank. –closing the bank” (…) “The December 2015 report by BOU auditors, found that the said bank was ‘‘less than satisfactory’’. The bank was given time to sort itself out. Meanwhile, BOU kept a close eye on bank” (…) “With pressure from BOU to do ‘‘something’’, the bank has increased pressure on the heavy borrowers, who have since resorted to selling their assets and business to pay back the loans. The BOU has also advised that the bank must get an investor to pump in more money as well as bring in management expertise” (Newz.ug – ‘BANK OF UGANDA THREATENS TO CLOSE A TOP COMMERCIAL BANK’ link: http://newz.ug/bank-of-uganda-threatens-to-close-a-top-commercial-bank/ ).

With this in mind, the biggest Commercial bank Crane all of sudden gets into management. That the bank had to close monitored must be because of the ownership and also the recent campaign trial of the government. That cannot be coincidence as the objective of that is over and now the bank is in shatters. Therefore the bank management and stakeholders has tried to keep the costumers and confidence up high, even getting the BoU to lie. As I show here.

So when that transaction happens in that regard, here is something more telling about the Crane Bank of September:

Atlas Mara, the African financial services company co-founded by the former head of Barclays’ Bob Diamond, was in talks to acquire a stake in Uganda Crane’s Bank, a person familiar with the matter said. The talks were at an early stage, the person said, asking not to be identified because the discussions were private. Atlas Mara values the bank at $250 million (R4 billion), while Crane Bank says it is worth $300m, a Nairobi-based east African newspaper reported, without saying where it got the information. Crane Bank said in September that it was looking for a strategic equity investor with a regional or continental network” (Cape Times – ‘Stake in Crane Bank on table’ 20.10.2016).

As that was happening in the hollow chambers of Atlas Mara this we’re the statement from BoU:

As of now, the Bank of Uganda has not received any request from Crane Bank to approve a change in shareholding. Should such a request be received, the proposed share holders will be vetted for “fit and proper” credentials and positively considered if they warrant approval. It should be noted that it is normal practice for financial institutions to change shareholding in line with their strategic objectives, and this has happened several times in Uganda” (Alupo, Christine – ‘Bank of Uganda on the Crane Bank Ownership’ 19.09.2016).

So there was a lie three somewhere in between the Bank of Uganda, Crane Bank and the Atlas Mara; as the Financial Service wouldn’t hunt for a new owner at the same time as the BoU would supress the idea of selling the shareholders and ownership of the same bank. That is just blatant lie from the Central Bank and Government of Uganda who covers up misconduct from their greatest Commercial bank, that had massive profits in 2015.

Museveni Swears In

If we’re talking about misconduct this one from the grandmaster kingpin His Excellency Museveni:

“A few days back (Monday), one of our journalists Sewakiryanga Ivan reported that the first family was withdrawing huge sums of money from Crane Bank. According to Ivan, Museveni had spent huge sums ($ 200 million) on the February Presidential Campaigns money, money reportedly drawn from Crane Bank. He also revealed that Crane Brank among other investments purportedly owned by Sudhir and Bassajalaba was owned by the President” (Buule, John – ‘Museveni finally sells off Crane Bank to Uganda’ 20.10.2016 – Mycampusjuice.com).

So if these reports are true, together with the shady dealings of the past as the Sudhir Raparelia who might even just been a perfect stooge in foreign investment scheme of things; while President Yoweri Museveni could run mad on his own enterprise as the bank has lasted for 24 years of the 31 years he has had the reign. That makes it possible after a little heckling over money he made his own bank to take it away from the reach of Bank of Uganda, the Central Bank and Reserves of the State. A state now so broke that now the funds for his Campaign has shattered the biggest Commercial Bank and it’s put under management of BoU. This is where even the Mighty President was not allowed to borrow for his expensive campaigning and paying of his loyal cadres to be behind after the election because of shillings of glory.

So with this in mind, the sale of Financial Service Atlas Mara wouldn’t be setup as the shoddy accounting and transparency of the bank where not fitting any prospects. Even a former Barclay’s Manager wasn’t able to settle the deal for new ownership. I am sure the finances and books weren’t sweet enough. Another reason why the Bank of Uganda wanted to make sure the Citizens of Uganda didn’t know the misconception of the safety of keeping accounts and transactions at the Bank. Together these indications prove the imbalance and wish to keep the first families activities in the shadow as they want to keep their acts behind closed doors. Still, when it surface it’s usually cause venom or disharmony as the Executive doesn’t have the Ugandans at heart, but his own pockets. Therefore even the Director of BoU Prof. Emmanuel Tumusiime-Mutebile sent him packing before emptying his treasure chest at the Crane Bank.

If this is the fact, than there are certainly many tax-payers and others accounts wiped out because of the greed of the old man with the hat. That used his last option to pay his creditors for the Presidential Campaign of 2016. Which cost a fortune for him with the buses, artists and all the other political aides paid off for the sake of 30 years and counting; the pride of the man with a lost vision. Peace!

Opinion: Museveni and NRM think nowadays that the Ugandans are stupid!

Museveni Kyankwanzi 01.08.2016

In politics, stupidity is not a handicap.”

― Napoléon Bonaparte

I might be first to say, but the acts of the Government and the details of conspiracy from the Ugandan Government. They must think that their citizens are stupid or at least fools for accepting their acts of the Executive and his party. The NRM cronies in their minds are paying to save businesses connected with brother of the Executive. Imagine, this being Museveni’s brother Gen. Salim Selah and other contributors, who happen to donate to the expensive campaign and the NRM House that never see the light of day. While claiming this is for saving businesses connected with the now civil-war actions of South Sudan, there might be businesses from Uganda or Ugandan owned in the South Sudanese country, but the list of businesses that we’re released online. None of them had connected businesses in Juba or directly exporting to South Sudan. So Museveni, thinks the Ugandans are stupid or acts like they are.  

This together with the UBC land that got sold to Burahya County MP Margaret Muhanga for 10 billion shillings, she happens to sell enough cows and goats to get the money for the 23 acres land. As the government controlled broadcaster could accept the monies. The idea of gathering enough cattle and goats are flabbergasting, and she claimed people we’re laughing at her for that claim. That is not so strange even the Executive doesn’t have enough cattle to fetch 10 billion shillings for a giant property. The good news is that today reported from Parliament that she has do deliver the deed back to Uganda Broadcasting Company by Friday. Though wonder if the government would have pushed for the same if the land was sold to foreign investor in the name of Aga Khan or other ones buying hunting ground in Amuru?

The Executive, Museveni thinks Ugandans are stupid and fools, as he thinks they can swallow the shallow excuse to extend his power for life. “A statement from State House Entebbe said the president received the proposal seeking the amendment of Article 102(b) to remove the age limitation from a group from the ruling NRM led by Kyankwanzi woman MP Ann-Maria Nankabirwa. “President Yoweri Museveni has received a resolution from the Kyankwanzi National Resistance Movement (NRM) leaders calling for the amendment of the Constitution by Parliament to lift presidential age limit from the current 75 years to none,” the statement reads in part. In March this year, the proposal to do away with the age cap for those contesting for the presidency is said to have come under discussion during a retreat of newly elected members of the NRM at the Kyankwanzi Leadership Training Institute. However, party officials denied it” (Mpagi, 2016). He the Executive thinks Ugandans are stupid and didn’t see this coming from the man who already scrapped the term limits made in the newly created 1995 Constitution. Therefore that he wished to amend the constitution and laws again to fit his paradigm wouldn’t be altering with the perception and status quo under his leadership. Museveni has always made laws fitting his actions and his perspective of leading. As he has blamed everybody else and claimed there we’re other responsible than him or his political elite. That the Kyankwanzi are trying to put an amendment to the law to fit his now rule-for-life alternative; the Ugandan people must have seen this coming from the man that has ruled with iron and guns since 1986. Therefore the only ones not believing he wouldn’t retract or change the laws to his benefit hasn’t followed the class of Museveni.

So, what do you think? Do you think that Museveni thinks Ugandans are stupid and gullible to believe anything his PR Team and State House gives to the Media; as the placing of changing the laws happens to happen right after the election and when their been speculation about his real age. Do you think he will get away with it as he has the majority rule of Parliament and they will listen to his reasoning as he dolce out monies so they will vote in favour of his changes of laws as they did in the 9th Parliament and before that as well! Peace.   

Reference:

Mpagi, Charles Mwanguhya – ‘Museveni says to consult on removal of presidential age limit’ (02.08.2016) link: http://www.theeastafrican.co.ke/news/Uganda-Museveni-moves-to-scrap-age-limit-/2558-3327504-v1qqo8z/index.html

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