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                RWANDAIR: Rwanda aircraft veers off runaway at Entebbe International airport

                RWANDAIR: Rwanda aircraft veers off runaway at Entebbe International airport

                Taxman (URA) Restricts Warehousing Of Old Vehicles to Avert Revenue Loss

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                CNOOC’s Ugandan workers threaten to strike over unfair salary regime

                CNOOC’s Ugandan workers threaten to strike over unfair salary regime

                Small and Medium Enterprises Fetch Capacity in Growth and Competitiveness

                Small and Medium Enterprises Fetch Capacity in Growth and Competitiveness

                Trending Tags

                • Politics
                  Tayebwa (standing) hands over to Hon. Hamison Obua

                  New Chief Whip Hamson Obua takes office

                  Brig Busizoori Takes over as Deputy Commander of UPDF 3 Division

                  Brig Busizoori Takes over as Deputy Commander of UPDF 3 Division

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                  Minister Nabakooba Trounced As Court Of Appeal Upholds Bagala’s Victory

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                    Medical Report: Oulanyah Died Of Multiple Organ Failure

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                      Courtesy Photo

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                      FULL SPEECH: THE GUEST OF HONOR AT THE HIPIPO WOMEN IN FINTECH SUMMIT AT SHERATON HOTEL – Hon. Judith Nabakooba

                      FULL SPEECH: THE GUEST OF HONOR AT THE HIPIPO WOMEN IN FINTECH SUMMIT AT SHERATON HOTEL – Hon. Judith Nabakooba

                      Government of Uganda and Total sign key oil pipeline agreement in Entebbe

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                      UPDF -Airforce officer invents a brick making machine

                      UPDF -Airforce officer invents a brick making machine

                      Trending Tags

                      • Opinion
                        Conflict and Crisis in Karamoja Region By Chero Emmanuel

                        Rebuking the Karamoja Crisis and Conflict

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                        OPINION: Why Sales Is the Best First Job For New Graduates

                        Regional Investment Summits will Identify Local Talent, Innovations and Stimulate Domestic Production

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                        ’ARCTIC’’ The New Geopolitical Flash-Point and Battle Ground for Wealth. -By Kiberu Malik

                        ’ARCTIC’’ The New Geopolitical Flash-Point and Battle Ground for Wealth

                        Serumaga: Is the Environmental Police Mindful of Permanent Buildings in Lwera wetlands?

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                        Education Reforms, Erase, Rewind and Modernise Some Aspects Starting with Names and Language

                        OPINION: Education Reforms, Erase, Rewind and Modernise Some Aspects Starting with Names and Language

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                          Isimba Hydropower Plant Shutdown to Last Three Weeks

                          Isimba Hydropower Plant Shutdown to Last Three Weeks

                          Boda-boda-riders-in-Uganda

                          KCCA has Today kicked off the BodaBoda census

                          The-KCCA-and-UNRA-team-that-carried-out-the-operation.

                          KCCA and UNRA have ordered people who operate businesses in road reserves to vacate immediately.

                          Officer Lance Corporal John Nuwagira remanded for sleeping with boss’ wife

                          UPDF Court remands soldier for sleeping with boss’ wife

                          Aging Force Not Good For National Defence, CDF Mbadi Tells Officers And Militants

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                        • World
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                          PHOTOS: Pastor Julie Mutesasira proposes to same woman she married 2 years ago

                          PHOTOS: Pastor Julie Mutesasira proposes to same woman she married 2 years ago

                          Lee Selby retires from boxing after 27 years

                          Lee Selby retires from boxing after 27 years

                          NRM SG Hon Todwong meets his Burundi ruling party counterpart in Kampala ahead of the burrial of the Parliament of Uganda falled speaker.

                          NRM SG Todwong meets Burundi ruling party counterpart

                          Parliament to elect Jacob Oulanyah’s successor this week. The speaker of the Parliament of Uganda died on Sunday 20th March in Seattle USA.

                          Parliament to elect Jacob Oulanyah’s successor this week

                          Boeing plane crashes with 132 passengers

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                          Museveni’s special message to Kagame excites Eastafricans

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                          Mali's ousted president Keita dies at 76

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                          MSMEs relief cash set for release (UGX200B)

                          Male Solomon Grace by Male Solomon Grace
                          August 25, 2021
                          in News
                          MSMEs relief cash set for release (UGX200B). Government is yet to agree on managing the relief package President Yoweri Museveni announced.

                          MSMEs relief cash set for release (UGX200B). Government is yet to agree on managing the relief package President Yoweri Museveni announced.

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                          MSMEs relief cash set for release (UGX200B). Government Ministries are yet to agree on how to manage the Shillings 200 billion relief package that President Yoweri Museveni announced for micro, small and medium enterprises while announcing the second COVID-19 induced lockdown. More than a month later, the money is yet to be released to the would-be recipients.  

                          The cash was meant for smaller businesses that were to be highly affected by the lockdown as markets and arcades were closed and people’s movement was restricted by a ban on public transport. According to the President’s speech, the government offered Shillings 100 billion, while the participating financial institutions were also to contribute Shillings 100 billion.   

                          President Museveni said then that the money would be handed over to the Bank of Uganda, for online distribution through the commercial banks and other qualifying financial institutions. 

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                          The State Minister for Industry David Bahat says that the money is there and ready for disbursement but the modalities of disbursing it are yet to be finalized.     

                          “The important thing is that the money is there. Let us first finalise the procedures, with other stakeholders, decide where the money will be channelled through, then we can tell the public who is supposed to get the money,” said Bahati in an interview.    

                          There are however concerns that the commercial banks usually increase the cost of the money to the beneficiaries, by setting higher interest rates. Some of these facilities cited include the Agricultural Credit Facility managed through the Bank of Uganda, under which enterprises get the money at between 12 and 15 per cent per year. 

                          The Minister of Trade, Industry and Cooperatives, Francis Ndebesa says no MSME can borrow at an interest rate that high and you expect them to pay back the loan in five years. Ndebesa wonders why the money should be so costly and yet it comes from the government. 

                          The Ministry says it found problems monitoring the previous credit facilities that were managed by different agencies, including the ongoing Emyooga wealth creation fund.  This, they say was one of the problems why many beneficiaries took long to receive it and others were cheated out, because of the system that was not well-streamlined. 

                          Emyooga was given to SACCOs, which are registered under the Ministry of Trade and Cooperatives, but the money was handled by the Uganda Microfinance Support Centre in conjunction with commercial banks and microfinance organisations. 

                          The relief package announced by Museveni is yet to be given out because of such misunderstandings, with each of the two ministries claiming they are better placed. State Minister for Microfinance, says they intend to use the same model used for the Agriculture Credit Facility, which ministers of trade, industry and cooperatives disagree with. 

                          State Minister for Trade Harriet Ntabazi says she does not see why this money should not be managed by her ministry, which has all the infrastructure, including being in charge of the people who are the beneficiaries. 

                          She, however, says that there are ongoing negotiations with the different stakeholders and this cannot block the money from being released and utilized. 

                          This was at the handover of office by Acting Permanent Secretary, Grace Adong Choda, to Geraldine Ssali, the first substantive PS in three years since the death of Julius Onen. 

                          Ssali has been out of the public view since she controversially left the National Social Security Fund as Deputy Managing Director, after disagreements with her former bosses in 2017. 

                          Read more; https://www.independent.co.ug/geraldine-ssali-denied-entry-into-nssf/

                          Tags: COVID19Government of UgandaH.E Yoweri Kaguta MuseveniMSMEs relief cash set for release (UGX200B)MSMEs relief cash set for release (UGX200B). Government is yet to agree on managing the relief package President Yoweri Museveni announced.Uganda
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