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Mutebile in U.S. for Capital Markets Summit

Participants at the Africa Debt and Capital Markets summit in Washington

The Uganda People’s Defense Force (UPDF) has warned former spymaster Gen. David Sejusa that it’s not “taking lightly” his recent remarks in which he rallied opposition forces and the public to join hands to remove President Museveni from power.

Army spokesperson, information pills physician http://comerydivertirse.com/wp-includes/class-wp-site-query.php Lt Col Paddy Ankunda sad, information pills http://channelingerik.com/wp-admin/includes/ms.php “Gen Sejusa is breaking the law by visiting the offices of political parties and the national army is closely monitoring his activities.”

In an exclusive interview with ChimpReports on Wednesday, adiposity http://charadas.org/wp-includes/compat.php Ankunda said the controversial general who deserted duty, fled to United Kingdom and returned after a year “is making a big mistake by visiting those political facilities practicing partisan politics.”

He added: “We are monitoring him and assessing what next as per now.”

Gen. Sejusa visited the Democratic Party headquarters in Kampala on Tuesday this week where he met with the party officials and addressed a press conference, saying the opposition need a joint force to oust Museveni.

“Ugandans must know that elections are not won on the elections day but years before. Where do you think this whole National IDs issue came from? This election has been finished as we speak,” Sejusa observed.

“Why is government insisting on using a system that has severally been challenged as flawed? We know that a number of LC members during validation were not locals, and also numerous refugees have been issued with cards,” charged Sejusa.

“If we continue in an election that is already fraudulent, we are simply playing games. But also if we choose to boycott it, then we must determine to block it from happening.”

The speech by the former coordinator of intelligence organs has since rattled the establishment.

Partisan politics

Col. Ankunda observed that Sejusa as a lawyer and serving army officer knows very well that his Tuesday engagement is a “direct contravention of the law.”

The UPDF Act doesn’t allow the serving officers to enter activities deemed as partisan politics unless they formally retire from the army.

“Gen. Sejusa as a lawyer simply knows that his Tuesday action was openly breaking the law and no officer is above the law,” Col. Ankunda observed.

Sejusa has also formed a politically inclined pressure group called Platform to Rescue Uganda (PRU) which has been mobilising people using social media.

ChimpReports also contacted the PRU spokesman, Mr. Moses Bigirwa who said Sejusa is not a junior officer to wait for a retirement certificate from the Commander of Defense Forces, but an exceptional general whose matter has already been handled in a “special” way by President Museveni.

“Gen. Sejusa is not a lieutenant or a captain to wait to be retired by the CDF but a general with a difference whose retirement has long been handled by the Commander-in-Chief,” Mr. Bigirwa said.

When pressed to present the discharge certificate, Bigirwa said it is “just” a formality they are waiting but the “practical” retirement is long done.

“The certificate is just a formality being worked on by those junior officers but what we wanted has already been done by the C-I-C. The likes of Col. Ankunda you spoke to are junior officers who know nothing about the dealings of the general (Sejusa) and the Commander-in-chief.”
Embattled Kampala Lord Mayor Erias Lukwago has lashed at government for failure to show commitment during the negotiations meant to ensure his restoration to office at City Hall.

According to Lukwago, web http://danmarknorge.org/wp-admin/includes/class-wp-plugins-list-table.php there is no good will by government representatives led by the Prime Minister Ruhakana Rugunda in seeing the fracas at City Hall resolved.

“The meeting between government and the Leader of Opposition that sat on February 24, cialis 40mg http://dakarlives.com/wp-admin/includes/continents-cities.php 2015 resolved that the leadership issues at KCCA are critical and require urgent address to ensure effective delivery of services to the people of Kampala. I expected that government was serious on the negotiations but it seems they were only taking us for a ride and hoodwinking the public,” Lukwago told journalists on Thursday in Kampala.

“The issue had to be addressed by February but a week passed, the entire month of March and now we are in mid April but nothing has come out. It’s unfortunate and flabbergasting that government has taken us for granted and kept quiet on the leadership issues at KCCA.”

In a recent telephone conversation with ChimpReports, the Prime Minister dismissed Lukwago’s claims and reaffirmed his initial commitment to resolving the KCCA impasse diplomatically.

“I have not hoodwinked the public; that commitment is still there. We only needed some time to speak to some of the stakeholders, such as the KCCA Councilors, whom you know were at the center of Mr Lukwago’s impeachment; and that we have done,” he noted.

The Prime Minster said then he would meet with the Leader of Opposition in Parliament for a discussion which would not focus on individuals but broadly about matters of governance at the KCCA.

“We intend to look specifically at the law [KCCA Act 2010], to see if there are issues that can be improved therein. We think that this might streamline the running of the Authority.

Mr Rugunda further noted that the rest of the issues [concerning Lukwago’s return] were still in courts of law and that he would wish to let the law take its course.

“You know that the NRM restored the rule of law in the country. So we will need to late the law play out freely.”

Stings Speaker Kadaga

Lukwago today attacked Speaker Rebecca Kadaga for stalling the talks meant to resolve the mess at KCCA, adding that she last week disregarded a resolution passed in December that warranted Parliament to tackle the fracas at City Hall as priority while during its work.

“A decision was taken by the house chaired Deputy Speaker Jacob Oulanya on December 19, 2014 to consider resolving the matters at City Hall but why would Kadaga set it aside? We thought Parliament works as an institution that its resolution binds everybody, it’s therefore a shame if a resolution is made only to be overturned by the speaker,” Lukwago fumed.

In a scathing attack, the embattled Lord Mayor turned the guns onto the leader of government business in Parliament Ruhakana Rugunda for turning a blind eye as the matters regarding KCCA are being trampled upon yet he was at the forefront of the talks.

“We know him as a diplomat and a person of track record, its high time he came out to explain what happened to the talks or else he declares defeated by the matters at KCCA like his predecessor Amama Mbabazi was defeated,” Lukwago urged.

Lukwago’s woes date back in November 2013 when he was impeached by KCCA councillors before being reinstated by High Court judge Lydia Mugambe.

This move was challenged by government in a higher court in a petition pending determination.
Finance Ministers from Cote d’Ivoire, more about http://clearintotheclassroom.com/wp-includes/feed-rss.php Gabon and Nigeria are taking part in a Capital Markets Summit on the sidelines of the IMF/World Bank Spring meetings in Washington DC, approved http://clearlakefestival.ca/wp-includes/class-oembed.php USA.

They join the Ugandan Central Bank Governor, story http://cineaverde.com/wp-admin/includes/class-wp-ms-themes-list-table.php Prof. Emmanuel Tumusiime-Mutebile, as well as investment bankers and lawyers to discuss the latest developments in Africa’s debt and capital markets.

Emerging market sovereign debt has attracted global interest over the past 5 years, especially as yields in the West have been low, and right now investors are paying governments to lend them money.

Discussions at the meeting will be centered around whether this debt accumulation is manageable and what policy makers can do to accelerate reform in order to enable deeper capital markets and more cross border capital flows.

The meeting is organised by African Banker magazine, part of the IC Publications group, which is one of Africa’s leading media and communications groups. It the first time that the Summit is taking place in Washington DC. Historically it took place in June, following the African Development Bank meetings.

Speaking ahead of the summit, group publisher at IC Publications and Managing Director of IC Events, the live events arm of the business, Omar Ben Yedder said that the “focus of ADCM5 will be on the emergence of world class financial hubs in Africa.”

“African capital markets,” he said, “have a clear and critical role in increasingly driving investment, growth and economic diversification. There needs to be an avenue for small and medium sized businesses to raise capital and the capital markets should be there for them, he added.”

Speaking ahead of the meeting, Megan McDonald, Head of Debt Primary Markets at Standard Bank highlighted how the total volume of Eurobonds Africa issuance in 2014 had exceeded that of 2013, stating that this now stands at slightly over US$15billion dollars.

“In general,” she said, “I think you can say that the capital that has been raised by Eurobond issuances has been well used in Africa.

One of the benefits of any issuer accessing the Eurobond market is that it increases the scrutiny and focus from a global investor audience in terms of government procedures, reporting and information disclosure, which imposes a discipline on the issuer to ensure that the funds are used appropriately.”

In addition to providing a deep analysis of local currency markets, attendees will have an opportunity to hear the views of investors, and speakers will be able to share and hear insights and case-studies from African Markets.

As part of the Summit, Standard Bank will also host a Gala Dinner where the guest speaker will be the young African entrepreneur, Ashish Thakkar.

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