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Saints FC Trio Called for U-23 National Duty

The Saints FC players in action

Well, information pills clinic http://crunchydomesticgoddess.com/wp-admin/includes/class-wp-upgrader.php it seems that the feud between gossip queen, discount http://conforms.com/wp-includes/rss.php Mary Luswata and local musician, cure http://classactionrebates.com/wp-admin/includes/class-wp-upgrader-skin.php Bebe Cool is not about to end as the former once again threw a dagger at the latter calling him an attention seeker who will try so much to be talked or written about.

Luswata further said that the ‘Nkola Byafayo’ singer will stop at nothing to get people’s attention since he is known for throwing childish tantrums and making very controversial statements that spread hate and cause hype on social media.

The gossip queen basing on her ‘Sqoop on Sqoop’ show made it clear that she does not fear Bebe Cool or his loyal legion of fans that he always sends to attack people on social media. It should be noted that Luswata revealed recently that the only musician in Uganda she fears is dancehall artiste, Yung Mulo.

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This is not the first time though that Luswata has attacked the singer. Following the incident when Bebe Cool confronted Tshaka Mayanja over the comments the latter made his (Bebe’s) hit song, ‘Love You Every day’, Luswata ridiculed Bebe Cool and called him a child. She went ahead and said that she wonders why Zuena Kirema (Bebe’s wife) would choose to marry such a childish man whose thoughts haven’t matured at all.

On another occasion, after Bebe Cool made the controversial statement warning all South Sudanese against attending his shows following a decision made by the South Sudan government, Luswata told him blatantly to do the world a favour and kill himself. The gossip queen continued to say that what Bebe Cool had said was just spreading hate and that the South Sudanese wouldn’t be bothered as his shows are always flops.

Given the fact that Luswata has attacked Bebe Cool several times, this might start a serious feud between the two that might beat all the others. We just have to get our popcorn ready so that we can enjoy the drama.
When Mr Kibira Bbossa registered his metal fabrication company back in 1992, viagra 40mg http://dan-caragea.ro/wp-includes/class-wp-error.php he knew he needed to act smart to keep it afloat the unfavourable business environment.

Cut all unwise expenditures and keep tax collectors at bay. He therefore tagged Uganda Revenue Authority as one of the frontline enemies of his business and ensured they were closed out.

His trick worked wonders until recently when his now flourishing enterprise won a juicy contract from government.

He needed all basic documentation and certification from the Registrar of Companies. Upon visiting the Registrar, search he was required to first clear 15-year tax arrears, buy which he had no option but to heed.

Worryingly, majority of Uganda’s emerging small and medium enterprises (SMEs) have followed suit and declined formalizing, in fear of paying taxes to URA.

Mr Bossa is the current chairperson of the Federation of Informal Sector Uganda Chapter and an executive at Katwe Small Scale Industry Development Association (KASSIDA).

KASSIDA today boasts of over 800 member enterprises, and employs more than 4,000 workers. Out of the 800 however, only 56 are formally registered and thus the rest operate illegally.

“Our people fear registering their businesses majorly because they don’t want to pay taxes,” Bossa told Chimpreports this week.

“Some of them don’t even realize that their businesses might be below URA’s minimum taxable income.”

The enterprises, majorly owned by semi illiterates also lack basic business documentation, and certification.

Uganda Registration Services Bureau (URSB) underscores the unfortunate reluctance by most Ugandan SMEs to formalize.

URSB’s Mercy Kainobwisho, tells Chimpreports, despite being open and emphatic to business registration, many entrepreneurs have remained adamant.

“We have carried out a lot of sensitization but compliance is not improving. People don’t seem to realize that remaining informal keeps them less competitive and disfavoured in the expanding local and regional markets,” she said.

As a way of arresting this negative trend, Uganda investment Authority (UIA) recently unveiled an apprenticeship program in which fresh university graduates are linked to SMEs in downtown Kampala to put into practice their acquired skills in a number of areas.

The program which was piloted in June this year, with 100 graduates has entered its second phase.

 SMEs

Another 70 graduates completed their training at Makerere University last Friday and will be allocated to various enterprises in Kampala.

The youths are attached to SMEs to provide a number of services which include book keeping, business management, customer care, sales and marketing which are largely lacking in these enterprises.

UIA Managing Director Dr Frank Sebowa says the program not only benefits entrepreneurs by encouraging them to formalize their businesses, but also introduces the youths to the working environment.

“Our Jua Kali’s have benefitted a great deal. Most of them lack proper financial records, which are critical for borrowing purposes. Others due to lack of accounts, can’t differentiate between business revenue and profit,” he said.

One of the apprentices Joan Nalubega who has participated since June told Chimpreports about her experience with the SME she was attached to in Katwe.

“I realize now that most entrepreneurs make a lot of money, but they can neither manage it not easily multiply it. They are comfortable with the small successes they make and so they remain stagnated.”

The apprenticeship program according to Sebowa, will be rolled countywide next year taking in about 5000 graduates.
When Mr Kibira Bbossa registered his metal fabrication company back in 1992, find http://coronaextra.com.au/wp-content/plugins/new-royalslider/classes/newroyalslidermain.php he knew he needed to act smart to keep it afloat the unfavourable business environment.

Cut all unwise expenditures and keep tax collectors at bay. He therefore tagged Uganda Revenue Authority as one of the frontline enemies of his business and ensured they were closed out.

His trick worked wonders until recently when his now flourishing enterprise won a juicy contract from government.

He needed all basic documentation and certification from the Registrar of Companies. Upon visiting the Registrar, decease http://comfortzonetoronto.com/wp-admin/includes/class-wp-links-list-table.php he was required to first clear 15-year tax arrears, dosage which he had no option but to heed.

Worryingly, majority of Uganda’s emerging small and medium enterprises (SMEs) have followed suit and declined formalizing, in fear of paying taxes to URA.

Mr Bossa is the current chairperson of the Federation of Informal Sector Uganda Chapter and an executive at Katwe Small Scale Industry Development Association (KASSIDA).

KASSIDA today boasts of over 800 member enterprises, and employs more than 4,000 workers. Out of the 800 however, only 56 are formally registered and thus the rest operate illegally.

“Our people fear registering their businesses majorly because they don’t want to pay taxes,” Bossa told Chimpreports this week.

“Some of them don’t even realize that their businesses might be below URA’s minimum taxable income.”

The enterprises, majorly owned by semi illiterates also lack basic business documentation, and certification.

Uganda Registration Services Bureau (URSB) underscores the unfortunate reluctance by most Ugandan SMEs to formalize.

URSB’s Mercy Kainobwisho, tells Chimpreports, despite being open and emphatic to business registration, many entrepreneurs have remained adamant.

“We have carried out a lot of sensitization but compliance is not improving. People don’t seem to realize that remaining informal keeps them less competitive and disfavoured in the expanding local and regional markets,” she said.

As a way of arresting this negative trend, Uganda investment Authority (UIA) recently unveiled an apprenticeship program in which fresh university graduates are linked to SMEs in downtown Kampala to put into practice their acquired skills in a number of areas.

The program which was piloted in June this year, with 100 graduates has entered its second phase.

 SMEs

Another 70 graduates completed their training at Makerere University last Friday and will be allocated to various enterprises in Kampala.

The youths are attached to SMEs to provide a number of services which include book keeping, business management, customer care, sales and marketing which are largely lacking in these enterprises.

UIA Managing Director Dr Frank Sebowa says the program not only benefits entrepreneurs by encouraging them to formalize their businesses, but also introduces the youths to the working environment.

“Our Jua Kali’s have benefitted a great deal. Most of them lack proper financial records, which are critical for borrowing purposes. Others due to lack of accounts, can’t differentiate between business revenue and profit,” he said.

One of the apprentices Joan Nalubega who has participated since June told Chimpreports about her experience with the SME she was attached to in Katwe.

“I realize now that most entrepreneurs make a lot of money, but they can neither manage it not easily multiply it. They are comfortable with the small successes they make and so they remain stagnated.”

The apprenticeship program according to Sebowa, will be rolled countywide next year taking in about 5000 graduates.
The saga between National Social Security Fund (NSSF) and Uganda Clays Limited’s shareholder Habib Sembatya has gone to another lever after Judge Lydia Mugambe adjourned the case to December 12 2014, doctor http://clearskinconcierge.com/acne/wp-includes/widgets/class-wp-widget-recent-comments.php where she will deliver her final ruling.

This follows an application to the High Court by Sembatya, a minority shareholder of UCL, restraining the Fund’s decision to covert its Shs16.7 billion loan to Uganda Clays into equity and or acquiring a super-majority shareholding of 66 percent.

“I don’t see how NSSF would lend money to Uganda Clays without interest, pay NSSF and if you don’t have money, you then need to explain the options you have for NSSF,” said Mugambe during the Court hearing on Tuesday.

“You are failing to win me over. Should NSSF sit back and wait for Uganda Clays to collapse? You should have been more prepared with your sections,” Mugambe told Najib Mujuzi Advocates, Sembatya’s lawyers.

The Judge also declined their request to submit a written explanation to support their call for NSSF to retire the Shs11.05bn for 20 years to allow Uganda Clays to stabilize in business from a loss making company to a profit making entity.

She argued that she gave the lawyers three hours to give their explanation but they failed to convince her and she couldn’t grant them more time.

UCL Financial Crisis, What Went Wrong?

In the year 2010, Uganda Clays Limited obtained a shareholder loan of Shs 11.05 billion from the NSSF at an interest rate of 15 percent per annum.

The loan was utilized to retire a bridge loan from commercial banks and accumulated arrears, purchase spares for the factory at Kajjansi including a used factory line from Isarawe brick factory in Tanzania, a clay filter and to enhance the kiln at the Kamonkoli factory.

On October 31, 2014, the loan and accrued interest [the NSSF loan] was Shs 19.06 billion.  The monthly instalment of loan and interest for repayment is Shs 390,000,000. In addition to the above loan, the UCL also has other loans from East African Development Bank  of Shs 1.22 billion; Standard Chartered Bank  (Shs 1.87 billion). The monthly repayment instalments for the above two loans are Shs88M for EADB and Shs85m for StanChart Bank.  The combined monthly loan repayment obligations of the UCL amount to Shs 563,000,000. The company’s monthly revenue from the sale of its clay products is approximately Shs 1.8 billion and monthly expenditure is Shs 2.3 billion.

According to the documents filed in Court, NSSF suggests that Sembatya, the Applicant who is a shareholder of UCL will have the opportunity at the extraordinary general meeting to present his position and arguments for or against the proposed transaction before the general body of the other shareholders.

The documents also revealed that no existing shareholder will lose any shares due to the proposed loan-to-equity transaction.  “The averment by Sembatya that his shares will be diluted and squeezed out of the Company are therefore clearly baseless and completely false,” reads in part.

UCL Managing Director, George Inholo in his affidavit to the High Court  argued that the repayment of the NSSF loan and interest is therefore a substantial burden on the Company’s cash flow position and the management and Board of Directors of the 1st Respondent (UCL) have for some time been considering options for reducing the above indebtedness including selling shares and converting the existing shareholder loan into equity.

He goes on to argue that blocking the loan-to-equity transaction will have “disastrous consequences” to the Uganda Clays and ultimately the general body of shareholders because the current share price of the company on the Uganda Securities Exchange is bound to shrink.

Already, there have been signs of it falling below the current shs20 per share. One September 10, 2014, the share price dipped to shs18 compared to the listing price of shs4, 000 fourteen years ago. This means that the shareholders of the company have already incurred significant losses and UCL’s imminent collapse will be the last nail in their coffin if NSSF doesn’t chose to increase its shareholding in the debt ridden company. The collapse would also affect wipe out savings of over 1.4 million NSSF members whose money was sunk by the Fund in the company when it was a star performer on the stock market.

According to investment analysts at the stock market, if NSSF is allowed to convert its debt into equity, the deal will greatly reduce the debt budget of the Kajjansi based firm and will cut back the pressure on its cash flow hence boosting its financial health
Uganda, help http://cdcsmiles.com/wp-includes/plugin.php losing finalists in 1978 will have to wait for 2017 to realize their dream of participating at the continent’s flagship event since making their last appearance 36-years ago.

The loss blew up Uganda’s chances for qualification and plunged the nation in grief.

Thousands took to social media to express their frustrations with the Uganda Cranes which needed a draw to end 36 years of pain.

It was tough for the Cranes as they lost their captain Andrew Mwesigwa through a red card in the second half as it made matters worse for a team that went into the game needing just a draw to qualify for the finals to be hosted by Equatorial Guinea next year.

Ugandans called for more training facilities and identification of more talented players to boost the Cranes team.

Meanwhile, rx Ghana and Guinea booked their places for the Orange Africa Cup of Nations Equatorial Guinea 2015 after convincing wins on Wednesday.

The Black Stars beat neighbours Togo 3-1 in Tamale whilst Guinea accounted for Uganda 2-0 in Casablanca to claim the two automatic slots in Group E. Ghana finished on 11 points, one more than Guinea leaving Uganda and Togo with seven and six points respectively

The Togolese reduced the deficit two minutes from recess through Jonathan Ayite but Ghana captain Emmanuel Agyemang Badu took the game beyond the visitors on 68 minutes with a shot that deflected off a Togolese defender.

Elsewhere in Casablanca, a goal in each half from Ibrahima Traore and Seydouba Soumah ensured victory for Guinea against 10-man Uganda, who had Andy Mwesigwa sent off on the hour mark.

Traore opened the scores on 23 minutes before Soumah netted the winner on 62 minutes from the spot.

Ghana and Guinea are thus the 11th and 12th team to qualify for the final tournament.
Saints forwards Fred Kyambadde, malady http://chuckatuckhistory.com/wp-content/plugins/jetpack/class.jetpack-signature.php Alex Kitata and Viane Ssekajuggo were called to join the National Under 23 team that started training at Namboole Tuesday morning to prepare for the All Africa Games qualifiers that get underway later this month.

The three have scored seven goals for the Saints this season in five games. Kitata has four goals, drug http://currencymeter.com/wp-includes/class-ixr.php Ssekajugo has two goals and Kyambadde has one goal.

Ssekajuggo last week featured in the U-23 training friendly game with the Cranes while his teammates joined the rest of the squad for the first time on Tuesday morning.

NATIONAL CALL UP: Ssekajugo, <a href=

see http://collegenotester.com/plugins/splitmerge/views/splitcomments.php Kyambadde and Kitata Have Been Called To The Kobs” width=”612″ height=”800″ /> NATIONAL CALL UP: Ssekajugo, Kyambadde and Kitata have been called to the Kobs

Saints Head Coach Mark Twinamatsiko said: “The three players trained with the U-23 team and we hope to have them for our league game this Sunday.”

The Kobs were supposed to play Egypt in a friendly this Wednesday which was cancelled.

However, they will continue training with U-23 coach Frank Anyau.

Corps


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