Kampala Rotary Club members and Bankers pose for a photo in Namulanda village, Mityana.

A new multi-billion complex expected to equip over one thousand youths in business, agriculture and entrepreneurship skills is under construction in Mityana district with support from the Rotary Club of Kampala North.

The center estimated to cost over $2millon (About 8.5 billion Uganda shillings) will sit on a 20 acre peace of land at Namulamba village in Busunju town council in Mityana district.

According to Margaret Nakanjako, the president Rotary club of Kampala north, the project expected to last between 5 to 7 years targets to train at least 300 youths per intake.

Nakanjako said the project will mainly focus on skilling, initiating employment activities for youth especially the artisans and those in the informal sector for them to be oriented in order to develop themselves in earning an income.

Over one hundred thousand youth across the country are to benefit from new entrepreneurship training center being set up in Mityana district.

“We are fully aware that unemployment is taking a big toll on many youths in this country.As Rotarians, we are therefore previledged to bridge the gap of ensuring that youths attain skills that will enable them employ themselves and earn a decent living instead of being wasted away taking especially drugs due to frustrations in life,” she said.

Nakanjako was on July 14, 2016 speaking at the ground breaking ceremony of the project in Namulamba village, Mityana.

Kato Ssentongo, the LC1 Chairman of Namulanda village thanked the good gesture by the Kampala North Rotary Club saying this initiative will attract more projects that will empower the area youth in businesses.

The project is being spearheaded in collaboration from the private sector including Banks such as Housing Finance, Stanbic, DFCU ,NIC and well-wishers.

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This came after the minister of finance; planning and Economic Development Maria Kiawanuka Nabasirye failed to convince them on the friendly modalities on how the youth can access funds for job creation.

Maria Kiwanuka, Uganda Minister of Finance

The mps said that the conditions put for the youth to access youth funds are road blocks for the them to get secure the loans from the banks.

This forced the minister of finance Maria kiwanuka to withdraw the statement and pleaded with MPS to allow her bring another next week signed by the managing directors of DFCU, Stanbic bank and Centenary bank where these banks  do not exist.

Some of the conditions put by banks and government to access youth fund include each youth borrower shall be able to provide employment to at at least four people over loan period ,each youth borrower of the youth fund will be fixed interest rate of 15% on this loan fund lent out until june this year when its reviewed.

Other conditions indicate that each borrower of this fund should demonstrate evidence of having invested at 10% of the loan amount in the business venture and the eligible businesses must have been in operation for a minimum period of three months with a demonstratabale potential to grow. Some mps had proposed that the youth fund should be put in prominent SACCOs where the youths can easily access the funds.

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 Sources have told our informers that the dime went missing last week and the police have started probing the disappearance of this huge some of money. An informer with Uganda Police has told our news desk that they are probing the signatories of Makerere Guild account in Stanbic Bank.

 The current signatories on Makerere Guild account are Guild President Onekalit Dennis Amare, Dean of students, Cyriaco Kabagambe, and Guild Finance Minister, Isaac Lakuna. The police according to the detectives are to question the university’s chancellor, Prof. Venancious Baryamureeba and the stanbic bank workersMakerereUniversitybranch. More details are to follow

By Christine Kate

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Our surveillance staff who followed Tumukunde to stanbic bank main branch yesterday were left in shock and awe when the brigadier approached the bank counter and unleashed several 100 US dollars to have them exchanged to Ugandan cash.

Tumukunde went to the bank in a pajero. All the business in the bank came to a standstill as both the workers and other clients had focused their attention on the brigadier. The brigadier was all smiles as he waved to everyone as he was being served.

Immediately after getting the local currency, Brig. Tumukunde walked out of the bank and drove away.

By James Okello

The post Brig. Henry Tumukunde excites stanbic bank workers first appeared on Uganda Multimedia News & Information.

This has come after the Capital Markets Authority (CMA) cleared Stanbic Bank last month to issue 5,118,866,970 shares to its listed shareholders.

The Communications manager of Stanbic Bank, Daniel Nsibambi tells informers in Kampala that the bonus shares will have a doubling effect on all shareholders.

By doubling effect the communications manager meant that shareholders with 100 shares, will get more 100 shares.

By Moureen Nakyanzi

The post Stanbic Bank launches bonus shares first appeared on Uganda Multimedia News & Information.

Sources have told our informers that the dime went missing last week and the police have started probing the disappearance of this huge some of money. An informer with Uganda Police has told our news desk that they are probing the signatories of Makerere Guild account in Stanbic Bank.

The current signatories on Makerere Guild account are Guild President Onekalit Dennis Amare, Dean of students, Cyriaco Kabagambe, and Guild Finance Minister, Isaac Lakuna.

The police according to the detectives are to question the university’s chancellor, Prof. Venancious Baryamureeba and the stanbic bank workers Makerere University branch. More details are to follow

Ultimate Media

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Detailed list of courses and tuition fees for each

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