DOCSLIB.ORG

Market Update 30 Th October 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Market Update 30 Th October 2017 Market Update th 30 October 2017 USE ALSI Close: 1,685.17 Previous: 1,688.08 (UP:10.27%YTD) - USD/UGX: 3,645.33 Previous: 3,644.92 (Down: 1.15% YTD) USE ALSI* Key Statistics: Market Synopsis: Close 1,685.17 1D* % Change (0.17) Activity on the market at the beginning of the week improved slightly from the previous MTD* % Change (1.85) trading day as Market turnover rose 20.61% to Ugx1.86Mn ($510), Volumes traded also YTD* % Change 10.27 increased to 38,402 from 16,050 shares traded on Friday. Six of the local counters on the bourse were active with DFCU (USE:DFCU) dominating turnover as it posted Ugx910,000 52 Week Range 1,330.82 – 1,837.45 Volume 38,402 with its share price held at Ugx700. Uganda Clays (USE:UCL) and NIC (USE:NIC) made Turnover (ugx) 1.86Mn ($510) upward price movements trading a value of Ugx130,000 and Ugx192,000, both counters PE 9.63 closed at Ugx26 and Ugx12 respectively. Stanbic Bank Uganda (USE:SBU) moved 15,475 EPS 22.73 shares with a value of Ugx421,715, its share price shed 1% while Umeme (USE:UMEM), Dividend Yield 1.8% closed at Ugx430, shedding 1.15%, the counter traded a turnover of Ugx183,610 from 427 Market Cap (ugx) 23,034.41Bn ($6,318.88Mn) shares. Bank of Baroda Uganda (USE:BOBU) traded the least turnover moving only 200 shares with a value of Ugx22,000. The USE All share index (ALSI) lost 0.17% closing at USE ALSI*- USE All Share Index, 1D*- One Day, MTD*- Month to Date, YTD*- Year to Date Source: Uganda Securities Exchange, Bloomberg 1,685.17 from 1,688.08 on Friday, C8, Crested’s local listed companies index declined by 2,000 0.41% to 121.40 while the Local Share Index dropped 0.25% to 386.47. Headlines: 1,950 USE ALSI INDEX - 12 months Financial Inclusion strategy to cut income inequality: The first Deputy Prime Minister 1,900 Gen. Moses Ali has launched the 2017-2022 National Financial Inclusion strategy. It is 1,850 hoped that the five-year strategy will enhance shared prosperity, reduce income inequality 1,800 and accelerate the attainment of lower middle-income status by 2020. According to the strategy, individuals and businesses will access useful and affordable financial products and 1,750 services that meet their needs–transactions delivered in a responsible and sustainable way. 1,700 The launch took place at the Kampala Serena Hotel on Thursday. Gen. Ali said financial 1,650 inclusion is key to boosting production and reducing income inequality. “This will boost middle income aspirations as captured in the Vision 2040 master plan,” he said. He urged 1,600 the financial sector players like banks and insurance companies to increase the range of 1,550 products they offer, especially to farmers because they will feed into higher household 1,500 incomes. According to finance state minister Gabriel Ajedra, the Government is drafting a 1,450 law to regulate tier-four microfinance institutions and money lenders. Nobert Mumba, the deputy executive director of the Alliance for Financial Inclusion, said Uganda is the 44th 1,400 country in the world to adopt a financial inclusion strategy. This is in line with the Maya 1,350 Declaration that seeks to unlock the economic and social potential of the two billion 1,300 unbanked people worldwide through greater financial inclusion. “Inclusive, sustainable growth is important for the integration of the unbanked into the formal economy. This raises the standard of living and reduces income inequality”, he said. (Source; New Vision) BoU to increase capitalization after Crane Bank rescue: The government of Uganda will have to inject additional capital into the Bank of Uganda after its core capital fell below Source: Uganda Securities Exchange the statutory minimum on the back of costs incurred in attempts to save the collapsed Crane Crested 8 Price Snapshot: Bank. The BoU recorded a loss of Ush72.5 billion ($19.8 million) in the year ended June. Close 52 Week Range YTD % Ch. The recapitalization will cost the government at least Ush20 billion ($5,479,600) deficit after C8 121.40 114.10– 123.86 3.26 the bank’s core capital fell to Ush17.3 billion ($4.7 million) against a minimum requirement BATU 30,000 30,000 – 30,000 0.00 of Ush20 billion ($5.4 million). The drop follows the decision by BoU to book the full BOBU 107 100 – 137 (13.71) amount it is supposed to recover from major Crane Bank shareholder, Sudhir Ruparelia, to DFCU 700 700 – 800 (9.10) taking Ush197 billion ($53.9 million), as an impairment. BoU injected Ush472.5 billion NIC 12 10.5 – 12 0.00 ($129.4 million) into Crane Bank between October last year and June as intervention costs, NVL 526 526 – 550 (3.48) of which Ush397.8 billion ($109 million) was outstanding at the end of the financial year. SBU 27.25 24 – 28 10.10 The central bank also sold some Crane Bank assets to DFCU for Ush200 billion ($54 UCL 26 12 – 24 116.67 million), which will be paid over two and a half years. (Source; The East African). UMEM 430 400– 532 (12.24) Money Market Outlook: The Ugandan shilling was stable on Monday, supported by *C8 is Crested 8 Local companies Index slowing demand for dollars from players in the interbank market. The local currency was quoted at 3,645/3,655, unchanged from Friday's close. (Source; Reuters) Regional Counters: . Macro Indicators: Close 52 Week Range YTD % Ch. (%) Period NSE20 3,648.31 2,789.64– 4,114.01 14.50 Inflation (Year on Year) 5.3 Ended October 2017 BRITAM (Kshs) 14.80 9.40 – 15.80 17.46 Central Bank Rate (CBR) 9.5 30/10/17 SAF (Kshs) 25.25 16.00 – 26.75 31.85 Bank Rate 15.00 30/10/17 KA (Kshs) 5.50 3.400 – 7.30 (5.17) 91-day T-Bill 9.006 30/10/17 NSE (Kshs) 18.90 11.00 – 24.75 29.45 182-day T-Bill 9.231 30/10/17 BRL (Rwf) 140 121– 166 0.00 364-day T-Bill 9.316 26/10/17 BOK (Rwf) 285 228 – 285 25.00 CTL (Rwf) 69 68 – 90 (23.33) Forex Close Prev. YTD % Ch. Sources: Crested Research, Uganda Securities Exchange, Nairobi Securities Exchange, GBP/UGX 4,799.76 4,799.89 (7.80) Rwanda Securities Exchange, Bank of Uganda, Bloomberg EUR/UGX 4,221.66 4,264.91 (10.95) KEN/UGX 35.15 35.13 0.05 CRESTEDCAPITAL RESEARCH CONTACT TZS/UGX 1.62 1.62 1.82 Impala House 1st Floor, Plot 13/15 Kimathi Avenue RWF/UGX 4.17 4.20 6.29 Hotline: +256 758 230900 @: [email protected], W: www.crestedcapital.com DISCLAIMER: The information contained herein is obtained from sources, which to the best of our knowledge are reliable. As such, we are not responsible or liable for any factual errors arising thereof. The opinions expressed herein are ours and are subject to change anytime without notice. .
Load more

Recommended publications
  • Elite Strategies and Contested Dominance in Kampala
    ESID Working Paper No. 146 Carrot, stick and statute: Elite strategies and contested dominance in Kampala Nansozi K. Muwanga1, Paul I. Mukwaya2 and Tom Goodfellow3 June 2020 1 Department of Political Science and Public Administration, Makerere University, Kampala, Uganda. Email correspondence: [email protected] 2 Department of Geography, Geo-informatics and Climatic Sciences, Makerere University, Kampala, Uganda. Email correspondence: [email protected]. 3 Department of Urban Studies and Planning, University of Sheffield, UK Email correspondence: [email protected] ISBN: 978-1-912593-56-9 email: [email protected] Effective States and Inclusive Development Research Centre (ESID) Global Development Institute, School of Environment, Education and Development, The University of Manchester, Oxford Road, Manchester M13 9PL, UK www.effective-states.org Carrot, stick and statute: Elite strategies and contested dominance in Kampala. Abstract Although Yoweri Museveni’s National Resistance Movement (NRM) has dominated Uganda’s political scene for over three decades, the capital Kampala refuses to submit to the NRM’s grip. As opposition activism in the city has become increasingly explosive, the ruling elite has developed a widening range of strategies to try and win urban support and constrain opposition. In this paper, we subject the NRM’s strategies over the decade 2010-2020 to close scrutiny. We explore elite strategies pursued both from the ‘top down’, through legal and administrative manoeuvres and a ramping up of violent coercion, and from the ‘bottom up’, through attempts to build support among urban youth and infiltrate organisations in the urban informal transport sector. Although this evolving suite of strategies and tactics has met with some success in specific places and times, opposition has constantly resurfaced.
    [Show full text]
  • Annual Report 2017-2018
    Annual Report 30 June 2018 Bank of Uganda Annual Report 2017/18 1 Table of Contents Page Table of Contents ................................................................................................................................. 1 List of Figures ...................................................................................................................................... 2 List of Tables ....................................................................................................................................... 3 Abbreviations & Acronyms........................................................................................................................ 4 Registered Addresses.............................................................................................................................. 7 1 Governor’s Foreword ....................................................................................................................... 8 2 Board of Directors and Management Structure ......................................................................................... 9 3 Corporate Governance ................................................................................................................... 11 4 Economic Developments and Prospects ................................................................................................ 22 5 Financial Markets Developments ........................................................................................................ 39 6 Banks Supervision
    [Show full text]
  • Public Notice
    PUBLIC NOTICE PROVISIONAL LIST OF TAXPAYERS EXEMPTED FROM 6% WITHHOLDING TAX FOR JANUARY – JUNE 2016 Section 119 (5) (f) (ii) of the Income Tax Act, Cap. 340 Uganda Revenue Authority hereby notifies the public that the list of taxpayers below, having satisfactorily fulfilled the requirements for this facility; will be exempted from 6% withholding tax for the period 1st January 2016 to 30th June 2016 PROVISIONAL WITHHOLDING TAX LIST FOR THE PERIOD JANUARY - JUNE 2016 SN TIN TAXPAYER NAME 1 1000380928 3R AGRO INDUSTRIES LIMITED 2 1000049868 3-Z FOUNDATION (U) LTD 3 1000024265 ABC CAPITAL BANK LIMITED 4 1000033223 AFRICA POLYSACK INDUSTRIES LIMITED 5 1000482081 AFRICAN FIELD EPIDEMIOLOGY NETWORK LTD 6 1000134272 AFRICAN FINE COFFEES ASSOCIATION 7 1000034607 AFRICAN QUEEN LIMITED 8 1000025846 APPLIANCE WORLD LIMITED 9 1000317043 BALYA STINT HARDWARE LIMITED 10 1000025663 BANK OF AFRICA - UGANDA LTD 11 1000025701 BANK OF BARODA (U) LIMITED 12 1000028435 BANK OF UGANDA 13 1000027755 BARCLAYS BANK (U) LTD. BAYLOR COLLEGE OF MEDICINE CHILDRENS FOUNDATION 14 1000098610 UGANDA 15 1000026105 BIDCO UGANDA LIMITED 16 1000026050 BOLLORE AFRICA LOGISTICS UGANDA LIMITED 17 1000038228 BRITISH AIRWAYS 18 1000124037 BYANSI FISHERIES LTD 19 1000024548 CENTENARY RURAL DEVELOPMENT BANK LIMITED 20 1000024303 CENTURY BOTTLING CO. LTD. 21 1001017514 CHILDREN AT RISK ACTION NETWORK 22 1000691587 CHIMPANZEE SANCTUARY & WILDLIFE 23 1000028566 CITIBANK UGANDA LIMITED 24 1000026312 CITY OIL (U) LIMITED 25 1000024410 CIVICON LIMITED 26 1000023516 CIVIL AVIATION AUTHORITY
    [Show full text]
  • Crane Bank to Appeal to Supreme Court
    Plot 37/43 Kampala Road, P.O. Box 7120 Kampala Cable Address: UGABANK, Telex: 61069/61244 General Lines: (+256-414) 258441/6, 258061/6, 0312-392000 or 0417-302000. Fax: (+256-414) 233818 Website: www.bou.or.ug E-mail: [email protected] CRANE BANK TO APPEAL TO SUPREME COURT KAMPALA – 30 June 2020 – Bank of Uganda (BoU) wishes to inform the public of its decision to appeal the Court of Appeal’s dismissal of the case filed by Crane Bank Limited (in Receivership) vs. Sudhir Ruparelia and Meera Investments Limited to the Supreme Court. In exercise of its powers under sections 87(3), 88(1)(a)&(b) of the Financial Institutions Act, 2004, BoU placed Crane Bank Ltd (In Receivership) [“Crane Bank”] under Statutory Management on 20th October 2016. This decision was necessary upon discovering that Crane Bank had significant and increasing liquidity problems that could not be resolved without the Central Bank’s intervention given that Crane Bank had failed to obtain credit from anywhere else. An inventory by external auditors found that the assets of Crane Bank were significantly less than its liabilities. In order to protect the financial system and prevent loss to the depositors of Crane Bank, Bank of Uganda had to spend public funds to pay Crane Bank’s depositors. A subsequent forensic investigation as to why Crane Bank became insolvent found a number of wrongful and irregular activities linked to Sudhir Ruparelia and Meera Investments Ltd. These findings form the basis of the claims in the lawsuit by Crane Bank. The suit was necessary for recovery of the taxpayers’ money used to pay depositors’ funds as well as the other liabilities of Crane Bank.
    [Show full text]
  • Absa Bank 22
    Uganda Bankers’ Association Annual Report 2020 Promoting Partnerships Transforming Banking Uganda Bankers’ Association Annual Report 3 Content About Uganda 6 Bankers' Association UBA Structure and 9 Governance UBA Member 10 Bank CEOs 15 UBA Executive Committee 2020 16 UBA Secretariat Management Team UBA Committee 17 Representatives 2020 Content Message from the 20 UBA Chairman Message from the 40 Executive Director UBA Activities 42 2020 CSR & UBA Member 62 Bank Activities Financial Statements for the Year Ended 31 70 December 2020 5 About Uganda Bankers' Association Commercial 25 banks Development 02 Banks Tier 2 & 3 Financial 09 Institutions ganda Bankers’ Association (UBA) is a membership based organization for financial institutions licensed and supervised by Bank of Uganda. Established in 1981, UBA is currently made up of 25 commercial banks, 2 development Banks (Uganda Development Bank and East African Development Bank) and 9 Tier 2 & Tier 3 Financial Institutions (FINCA, Pride Microfinance Limited, Post Bank, Top Finance , Yako Microfinance, UGAFODE, UEFC, Brac Uganda Bank and Mercantile Credit Bank). 6 • Promote and represent the interests of the The UBA’s member banks, • Develop and maintain a code of ethics and best banking practices among its mandate membership. • Encourage & undertake high quality policy is to; development initiatives and research on the banking sector, including trends, key issues & drivers impacting on or influencing the industry and national development processes therein through partnerships in banking & finance, in collaboration with other agencies (local, regional, international including academia) and research networks to generate new and original policy insights. • Develop and deliver advocacy strategies to influence relevant stakeholders and achieve policy changes at industry and national level.
    [Show full text]
  • Annual Report
    2017/18 ANNUAL REPORT RESILIENCE AND RECOVERY ABOUT US New Vision Printing & Publishing Company Limited started business in March 1986. It is a multimedia business housing newspapers, magazines, internet publishing, televisions, radios, commercial printing, advertising and distribution services. The Company is listed on the Uganda Securities Exchange. Our Vision A globally respected African media powerhouse that advances society Mission To be a market-focused, performance-driven organisation, managed on global standards of operational and financial efficiency Values • Honesty • Innovation • Fairness • Courage • Excellence • Zero tolerance to corruption • Social responsibility 2 VISION GROUP ANNUAL REPORT 2017/18 INTRODUCTION This is the Annual Report of New Vision Printing & Publishing Company Limited trading as Vision Group for the year ended June 30, 2018. This Annual Report includes financial and non-financial information. It sets out the Company’s strategy, financial, operational, governance, social and environmental performance. The Annual Report also contains the risks and opportunities affecting the Company. The purpose of producing an Annual Report is to give the shareholders an annual view of how the Company has performed and what the Board is striving to do on behalf of the shareholders. 1 TABLE OF contENT Notice of Annual General Meeting 4 Company Profile 5 Business Review 15 Board of Directors 19 Chairperson’s Statement 21 Executive Committee 26 CEO’s Statement 27 Corporate Governance Statement 31 Shareholder Information 42 Proxy Card 47 Sustainability Report 50 Accolades 80 Financial Statements 82 2 VISION GROUP ANNUAL REPORT 2017/18 LIST OF AcronYMS AGM - Annual General Meeting Annual Report - An annual report is a comprehensive report on a company’s activities including the financial performance throughout the year.
    [Show full text]
  • Do Not Bank on Us! Taking Stock of Transparency and Accountability During Crises in Uganda: the Case of Crane Bank Collapse
    PROCEEDINGS OF THE INTERNATIONAL CRISIS AND RISK COMMUNICATIONS CONFERENCE MARCH 11-13, 2019, ORLANDO FL, USA Do not bank on us! Taking stock of transparency and accountability during crises in Uganda: the case of Crane Bank collapse Angella Napakol Uganda Christian University Mukono, Uganda Ann Mugunga Hong Kong Baptist University Hong Kong Abstract: This study examined transparency and accountability as bridges to the interpretative and sense making capabilities of the public following the collapse of Crane Bank, Uganda. Content and critical discourse analysis methods were used to: investigate the nature of communication, the information shared; review honesty and responsibility in communication, and also analyze how accountability and transparency are constructed during crisis situations in the South. Assessment of 120 newspaper articles showed that both Crane Bank and Bank of Uganda mainly left it to the media to create and give meaning to stakeholders. Initial communication from both institutions was delayed and subsequent communication was made in a casual, vague and dismissive manner. Transparency and accountability either as information disclosure, responsibility or mutual understanding to translate into sense making for the audience were grossly undermined. Most of the shared information was not aligned to the interpretive capabilities of audiences; and there was no effort to create a good image or influence the audience. The research underscores the importance of transparency and accountability as essential for creating trust in leadership and management, in order to better manage crisis and risk situations. Keywords — Accountability, crisis, sense making, sense giving, transparency ———————————————————————————————————— SUGGESTED CITATION: Napakol, A., & Mugunga, A. (2019). Do not bank on us! Taking stock of transparency and accountability during crises in Uganda: the case of Crane Bank collapse.
    [Show full text]
  • Umeme Limited FY 2018 Results Presentation Isimba Hydropower
    Isimba Hydro Power Dam Isimba Hydropower Station Umeme Limited FY 2018 Results Presentation Contents ❑ Macro Economic Update ❑ Electricity Supply Industry Overview ❑ Umeme Capex Plan ❑ Concession & Regulatory Updates ❑ Operational Review ❑ Financial Highlights ❑ Strategic Priorities 2 Macro Economic Update % GDP Growth Trend 7.0% 6.4% 6.3% 6.4% • Real GDP up 6.1% 6.1% 6.0% 5.6% supported by rise in 5.2% 5.1% 4.8% private sector credit, 5.0% favourable weather 3.8% 3.9% 4.0% 3.6% 3.0% • Gov’t focus on infrastructure supported 2.0% further recovery in 1.0% construction 0.0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 • Rebound in services Source: UBOS, Bank of Uganda sector – growth in telecom, financials and ▪ 2018 Headline Inflation average – 2.6% (from 5.6%) insurance ▪ 2018 Currency performance – 2% vs 1% weakening in • Bank of Uganda 2017 Composite Index of Economic Activity points ▪ FY 2018/19 growth projected at 6.3% supported by accommodative monetary policy, infrastructure spending, to improved business stronger credit growth and improved agriculture sentiments performance 3 Installed Generation (MW) Karuma +600 MW 1,800 1,767 Installed Capacity 1,600 Source MW % 1,400 Hydro 927.3 79.5 Isimba +183 Thermal 101.6 8.7 1,167 1,200 (HFO) 984 Solar 40.8 3.5 1,000 905 932 863 872 872 895 Cogeneration 96.2 8.2 800 Diesel 1.0 0.1 2012 2013 2014 2015 2016 2017 2018 2019 2020 Source: Umeme, UETCL, MEMD Isimba Dam Commissioned on 21st Mar 2019 4 State of Electricity Supply GWh +9.1% MW +5.9% Electricity Sales (GWh) 650 Max System
    [Show full text]
  • The Republic of Uganda in the High Court of Uganda At
    THE REPUBLIC OF UGANDA IN THE HIGH COURT OF UGANDA AT KAMPALA (CIVIL DIVISION) CIVIL SUIT NO. 46 OF 2016 MUSA KIVUMBI :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: PLAINTIFF VERSUS 1. NEW VISION PRINTING & PUBLISHING COMPANY LIMITED 2. BARBARA KAIJA,THE EDITOR IN CHIEF THE NEW VISION NEWSPAPER:::::::::::::::::::::::::::::::::::::::: DEFENDANTS BEFORE: LADY JUSTICE LYDIA MUGAMBE JUDGMENT A) Introduction 1. The Plaintiff’s claim against the Defendants jointly and/or severally is for aggravated/exemplary and general damages for libel; a permanent injunction restraining the Defendants jointly and severally or their agents, from further writing, printing or publishing any defamatory, malicious and unfounded words against the Plaintiff; interest from the date of judgment till payment in full, costs of the suit and any other alternative remedy as the court deems fit. 2. The Plaintiff claims that in the New vision newspaper of 5th October 2015, at page 11 an article titled “Umeme warns over imposters”, the Defendants jointly and severally 1 maliciously published and/or caused to be published of the Plaintiff the following words; “…. speaking to the press after the arrest of Musa Kivumbi who was trying to extort sh.500, 000 from a customer at Sseguku, Wakiso, Umeme’s integrity manager, Moses Kasakya said many people continue to lose their money to imposters. He allegedly asked for money from a customer in Sseguku to replace a meter box that had been taken by Umeme over an outstanding bill ... Kivumbi is being detained at Jinja road police station and will be presented in court this week over fraud … Kasakya warned Umeme’s contractors to get rid of individuals tarnishing its reputation by cheating unsuspecting customers.” 3.
    [Show full text]
  • Uganda: Violence Against Women and Information and Communication Technologies
    Uganda: Violence against Women and Information and Communication Technologies Aramanzan Madanda, Berna Ngolobe and Goretti Zavuga Amuriat1 Association for Progressive Communications (APC) September 2009 Attribution-Noncommercial-No Derivative Works 3.0 Unported creativecommons.org/licenses/by-nc-nd/3.0/ 1Goretti Zavuga Amuriat is a Senior Gender and ICT Policy Program Officer at Women of Uganda Network (WOUGNET). She spearheadsa campaign for integrating gender into ICT policy processes in Uganda. She is also project coordinator of the Enhancing Income Growth among Small and Micro Women Entrepreneurs through Use of ICTs initiative in Uganda. URL: www.wougnet.org Berna Twanza Ngolobe is an Advocacy Officer of the Gender and ICT Policy Advocacy Program, Women of Uganda Network (WOUGNET) URL: www.wougnet.org Aramanzan Madanda is currently finalising a PhD researching adoption of ICT and changing gender relations using the example of computing and mobile telephony in Uganda. He is also ICT Programme Coordinator in the Department of Women and Gender Studies, Makerere University Uganda. Email: [email protected], URL www.womenstudies.mak.ac.ug. Table of Contents Preface.........................................................................................................................3 Executive summary........................................................................................................4 1. Overview.............................................................................................................................6
    [Show full text]
  • Uganda's Economic Development
    CHECK REALITY UGANDA’S ECONOMIC DEVELOPMENT THE CHALLENGES AND OPPORTUNITIES OF CLIMATE CHANGE Emmanuel Kasimbazi This project is funded by Konrad-Adenauer-Stiftung e.V. Uganda Plot 51 A, Prince Charles Drive, Kololo, P.O. Box 647 Kampala, Uganda Tel: +256 - (0)312 - 262011/2 www.kas.de/Uganda Uganda’s Economic Development REALITY CHECK UGANDA’S ECONOMIC DEVELOPMENT THE CHALLENGES AND OPPORTUNITIES OF CLIMATE CHANGE Emmanuel Kasimbazi The views expressed in this publication do not necessarily reflect the views of the Konrad-Adenauer-Stiftung but rather those of the author. i REALITY CHECK UGANDA’S ECONOMIC DEVELOPMENT THE CHALLENGES AND OPPORTUNITIES OF CLIMATE CHANGE Konrad-Adenauer-Stiftung, Uganda Programme 51A, Prince Charles Drive, Kololo P.O. Box 647, Kampala Tel: +256 - (0)312 - 262011/2 www.kas.de/uganda ISBN: 978 9970 477 00 5 Author: Dr. Emmanuel Kasimbazi Design and Production Media PH Limited Plot 4 Pilkington Road Tel: +256 (0) 312 371217 Email: [email protected] © Konrad-Adenauer-Stiftung e.V. 2013 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, without written permission of the Konrad-Adenauer-Stiftung. ii TABLE OF CONTENTS ACKNOWLEDGEMENT ..................................................................... v FOREWORD .................................................................................. vi LIST OF FIGURES AND PHOTOS .................................................. viii LIST OF TABLES .........................................................................
    [Show full text]
  • Christians Ask Orthodox Pope to Organise Church
    32 NEW VISION, Wednesday, November 4, 2015 NATIONAL NEWS Christians ask Tororo Technical Orthodox Pope to Institute gets sh 7.7b organise Church TORORO By Faustine Odeke KAMPALA The Pope, during the “We shall build prayers at St. Nicholas The Government has By Mathias Mazinga Orthodox Church, secured sh7.7b for the Namungoona, promised transformation of Tororo Orthodox Christians have the proposed to build a University in Technical Institute into requested the visiting Pope Uganda. a centre of academic and Patriarch of Alexandria office and “I like Uganda, which is excellence. The soft and Africa, His Beatitude why I have visited three loan from the Kuwait Theodoros II, to make times. We shall build government will be strategic administrative University of the proposed office and used to construct the reforms that will enable the University of the Orthodox principal’s residence, the Orthodox Church in Uganda the Orthodox Church here,” he said. administration block, to be prosperous and self- Theodoros asked the two workshops, girls’ reliant. Ugandan Orthodox dormitory and to supply The Christians have also Church here.” Christians to be supportive tools, textbooks, furniture called for the establishment of their Church and also be and buy a 30-seater bus. of sustainable development and subsequently support ethical and God-fearing in Pope Theodoros with Orthodox children in Namungoona The principal, Benedict projects which will provide the construction of the their daily lives. Ewoku Opio, said the the local clergy with income. proposed cathedral of the The Orthodox Archbishop born Prelate of Nubia and South leader (Gerondias) of the nuns work is expected to be Delivering his welcome Orthodox Church at Lubya of Uganda, Jonah Lwanga, Sudan, Bishop Narkissos.
    [Show full text]