Traders - Uganda Multimedia News & Information

Families of police officers to receive Sacco money

Gerald Businge — Mon, 24 Oct 2016 07:14:36 +0000

Haruna Kasolo the state minister for micro finance.

The state minister for micro finance, Haruna Kasolo, has advised police to organize wives and husbands of police officers into Sacco groups to enable them access money to kick start their entrepreneur ambitions.

According to Kasolo, government has disbursed a lot of money to people including traders, UPDF officers, farmers and others, but relatives of police officers and crime preventers have been neglected.

He explained that under this new arrangement, police officers are required to form groups to enable the ministry extend them funds at relatively lower interest rate for borrowing.

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MP wants law against paying landlords in foreign currency

Gerald Businge — Thu, 04 Aug 2016 20:29:43 +0000

RAKAI district Woman Member of Parliament, Juliet Ssubi Kinyamataama wants parliament to enact a law that restrains landlords from charging traders in dollars this habit is greatly affecting many businesses in the Country.

Charging tenants in dollars keeps business unstable as it drop or increase at any time.

Kinyamataama, says every time traders are pushed to pay rent in dollars, there has been an increased price on commodities and where they cannot they have ended up making loses which she says has made many young people to close of businesses as they cannot sustain this.

She vowed to table the motion in the house next week, adding that Parliament also needs to approve all tenant agreements meant for businesses signed in shillings.

Kinyamataama says that parliament needs to urgently intervene before more businesses collapse. She also proposes a law that burs trading of local businesses in dollars which also affects the duplication of the shillings.

In recent weeks, many business many have expressed their concerns about the economy with some asking government to come to their rescue through what has come to be termed as a ‘bailout’.The business men say high interest rates by banks and the war situation in South Sudan has caused them a lot of losses.

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Ministry calls for revolving fund to assist in fertilizer importation

Isaac Senabulya — Tue, 22 Dec 2015 09:02:41 +0000

The ministry of agriculture has called for establishment of a separate revolving fund to assist traders who are dealing in fertilizer importation. Under the 2016-2017 budget frame work paper, the ministry of agriculture has resolved to prioritise seeds and planting material after securing additional 100 billion shillings from government in this budget.

While appearing before the parliamentary agriculture committee, the minister for Agriculture Tracy Buchanayandi said that the business of fertilizers is a risky venture to invest in, which calls government to assist the few traders in this business. He explained that currently farmers are using 2kg per hectare per year, yet the ultimate target is 240kgs per hectare per year.

The Member of Parliament for Yumbe district Huda Alero was furious that the government officials under the operation wealth creation deliver planting seeds as late as October which fails farmers to plant early and what is planted late gives them poor yields.

The 2016-2017 agriculture budgets has risen from 479.9 billion shillings to 627.7 billion shillings. The budget gives 15 billion shillings to distribute free planting materials to farmers and 18 million free hoes will be given to farmers.

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