Pursuant to the powers granted to it under section 78 of the financial institutions Act 2004, Bank of Uganda, either by itself or its appointed agent or any other person authorised by it, is empowered to establish a credit reference bureau for the purpose of disseminating credit information among financial institutions.

The Bank of Uganda, according to sources in the bank, has today exercised those powers by licencing one credit bureau service provider and opened up the market by licencing additional credit reference bureau service providers.

The executive director supervision, bank ofUganda, now says that interested applicants may submit their applications for the provision of the credit reference bureau services for financial institutions and microfinance deposit-taking institutions to the Bank of Uganda.

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It seems the rivals of Mufti Shaban Mubajje will develop ulcers and high blood pressure when they read this shocking information. The spokesman of Uganda Muslim Supreme Council Nsereko Mutumba says that Mufti Mubajje will leave office in 2025.

He told news informers that the elections Uganda Muslim Supreme Council is organising next month are to elect Muslim organs inUgandabut they are not to elect a new Mufti.

There are two parallel Muslim leadership structures inUganda. One led by Mubajje and another by Sheikh Zubair Kayongo. Mubajje is 57 years old. Hajji Nsereko Mutumba says that Mubajje would leave office when he is 70 years.

The Uganda Muslim Supreme Council general elections will run from March 26^th to May 3^rd this year.

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The Omara Bashir government in Northern Sudan is in trouble after intelligence reports indicated that the major rebel groups there are planning to carry out massive attacks onKhartoum.

The main rebel forces in Northern include the Sudanese Armed Forces (SAF), the Sudan People’s Liberation Movement North (SPLM-N), the Sudanese Armed Forces (SAF)  and the Sudan Revolutionary Front (SRF).

The Bashir government claims that the rebels troublingNorthern Sudanare being trained and supported by the National Resistance Movement (NRM). NRM is the ruling political organization inUganda. The senior advisor of president Bashir, Sheikh Mustafa Osman Ismail on Monday warnedUgandato stop the financial support it allegedly gives to the rebels fighting the Bashir administration.

Ultimate Media

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The source says that Besigye regularly tells his pals in FDC that he trusts no body in FDC until the day he will finish the struggle to oust president Museveni’s government.  One of the private secretaries of Col. Kiiza Besigye says that Besigye buys the buffets directly from the restaurants. This source says that Besigye never buys the buffets at the same restaurants. The source told our informers that when Besigye buys the buffets at Nankulabye the next day he might buy another in Kajjansi.

At home Besigye eats food from only one person, Sam Mugumya. Mugumya comes from Rukungiri district where president Museveni hails from. Both Mugumya and Besigye are Bakiga, one of the pastoral tribes inUganda.

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Uganda’s capital city Kampala.

A source in government told us that one of the ministers of Education and sports has already directed Kampala Capital City Authority (KCCA) to ensure that all schools inKampalaare removed before the end of 2012.

The KCCA official in charge of planning, Joseph Sentongo says that the move is intended to decongest the city.

The development is likely to affect thousands of pupils and students who have been trekking miles to study inKampala. Some children of the rich persons, especially those who have connections with the ruling party, the National Resistance Movement have been transported twenty miles away to study in Uganda’s capital city Kampala.

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The government has put a side 25 billion shillings for the youth to borrow. The minister for finance, Miria Kiwanuka says that the youths can access this money from DFCU bank, Stanbic Bank and Centenary Bank among other commercial banks inUganda.

Addressing journalists inKampalatoday, Ms Kiwanuka said that the interest rate of 15 per cent will be charged per youth loan acquired.

She says that the interest rate will remain unchanged for the period of six months running. Ms Kiwanuka says that the loan will be available for only first time borrowers and it will be paid back within four years with a grace period of one year. The youths’ category to access the loans must be aged between 18-30 years old and they can borrow up to five million shillings.

By James Okello

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The workers at the bar have told us that they are soon beading farewell to its customers.

We hear the workers at Bead for life bar have started looking for other jobs. Now we take this opportunity to ask the government and  banks to save Bead for life bar before it completely close shop and Ugandans working there lose jobs.

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We have been told that of recent there has been staff exodus at the daily monitor over little pay. So the nation group of companies has come out to curb the exodus. In a period of less than two weeks three editors at the daily monitor resigned their posts.

The editors who resigned were of Full woman magazine, Eunice of health and Lindah of Homes quit.

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The Private Sector Foundation Uganda (PSFU) is to reward event to associations in the business sector come February 24^th 2012.

Ultimate Media

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Propaganda is spreading in some political parties inUganda, especially in the Democratic Party (DP), Uganda Peoples Congress (UPC), Conservative Party (CP) and Forum for Democratic Change (FDC) that there will be no general elections in 2016 because president Museveni’s government would be topped in 201.

FDC president Col. Kiiza Besigye has told his supporters in Najjanankumbi (Kampala) today that all political scenes indicate that Museveni’s reign will end in 2013. President Museveni’s fourth term of office as President of Uganda ends on May 12^th 2016.

Presidential Secretary Tamale Mirundi has reffered to the romours in political parties as ‘nosence’ saying it is meant to mislead the public. The rumour has it that Ugandans would compel parties to choose between Besigye or Norbert Mao of DP or any other opposition politician to ruleUganda.

Mirundi further advises leaders of political parties to circulate developmental and real ideas that will promoteUganda’s image andAfricain general.

By James Okello

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