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    Why Uganda Is Having Escalating Fuel Prices – Energy Ministry Gives Hope…

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    The Ministry of Energy and Mineral Development has revealed why the country is having skyrocketing fuel prices.

    In a statement released today, the ministry disclosed that there was a delay at the Busia and Malaba entry points because truck drivers had to undergo mandatory Covid19 testing yet most sectors of the economy are now fully functioning and people are using alot of fuel.

    “Uganda is a net importer of Petroleum market with an average current daily consumption of 6.5 million litres. Uganda loads its products through the terminals located in Eldoret, Kisumu, Nairobi and Mombasa and supply is majorly through road transport,” the statement reads.

    “Supply was normal with trucks being cleared as usual and drivers were allowed to present negative Covid-19 results from Kenya until 1st January 2022 when a directive was issued requiring all truck drivers to undergo testing at Malaba and Busia entry points. This however resulted in a buildup of a queue of trucks as none were entering the country.” the ministry adds.

    Mr. Solomon Muyita the spokesman of the Ministry of Energy and Mineral Development

    “With the full opening of economic activities, there has been an increase in uptake of Petroleum Products which saw a spike in consumption in the country that affected the 10-day stock levels. The very low replenishment based on the truck delays at the borders resulted in some stock out of Petrol at some outlets,” the statement further reads.

    The ministry assured Ugandans that Oil Marketing Companies have most of their trucks in the traffic between the Kenya loading points and the borders and once cleared in a few days, supply and prices will return to normal.

    The ministry warned speculators who are hoarding petroleum products and leading to unnecessary hike in fuel prices to desist from this bad practice.

    “The price of petrol in the country should not exceed UGX 5,000 per litre. The cases of scarcity in districts such as Hoima will be addressed shortly with the ongoing replenishment,” the statement reads.

     

    By Hope Kalamira

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    MY MONEY

    Travellers Left In Shock After City Businessman Dies On Ethiopian Airlines Flight From Dubai…

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    Travellers and staff at Entebbe International Airport were on Tuesday afternoon left in panic mode after a businessman identified as Yusuf Kulembera died aboard Ethiopian Airlines plane minutes after it landed at Entebbe International Airport.

    Without revealing the cause of his death, Uganda Civil Aviation Authority (UCCA) spokesperson, Vianney Luggya, noted that doctors confirmed Kulembera’s death upon arrival at Entebbe International Airport.

    “The passenger arrived aboard Ethiopian airlines that touched down at 1:47 pm. The doctors checked and confirmed his death. The body was then taken to City Mortuary Mulago, Kampala for postmortem,” Luggya confirmed.

    According to reports, Kulembera, a resident of Nkumba, Katabi Town Council in Wakiso District was flying to Dubai for business.

     

    By Kobusiinge Monica

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    CELEBRITY GOSSIP

    Why Money Lender Is Auctioning Bitature’s Multibillion Posh Hotels, Tycoon’s Lawyers Reveals Next Step…

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    Tycoon Bitature (Top R) and some of the properties that the money lender wants to take

    Vantage Mezzanine Fund 11 Partners, a South Africa money lending company through their lawyers of M/S Kirunda & Wasige Advocates have hired the services of Quickway Auctioneers & Court Bailiffs to auction properties worth billions belonging to city tycoon Patrick Bitature, the proprietor of the Simba Properties Investments Companies Limited.

    In an Advert placed in Wednesday’s Daily Monitor newspaper, the Court Bailiffs informed the debtor Bitature that he has only 30 days to pay the amount of money with interests borrowed from their client otherwise his properties will be sold off through auctioning.

    Among the properties which the set to be sold include Protea Hotel-Naguru (Skyz Hotel), Elizabeth Royal Apartments and Moyo Close Apartments.

    Bitature’s troubles started in 2014 when he secured a $10m loan from Vantage Mezzanine and he used the said properties as security.

    However, Bitature’s lawyer Fred Muwema rubbished the said auctioning claiming that it is illegal and violates the laws governing the auctioning process.

    The advert in today’s Daily Monitor auctioning Bitature’s properties

    The furious lawyer even threatened to sue the Daily Monitor for advertising illegal and malicious information against his client claiming that the matter was settled in Justice Musa Ssekaana’s ruling.

    He insisted that High Court judge Ssekana refused to allow the auctioning and advised both parties to wait for the pending judgement before the High Court Commercial Division in Kampala.

    Vantage Mezzanine dragged Uganda Registration Service Bureau (URSB), Simba Properties Investment Company Limited, Simba Telecom Limited, Linda Properties Limited, Elgon Terrace Hotel Limited to court for failing to transfer the mortgaged properties into their names.

    When Bitature failed to pay his loan, Vantage started the process of transferring the shares of the mortgaged properties but URSB refused to implement the process that is why they were also sued.

    In their suit, Vantage wanted a Court declaration that it was illegal for URSB to refuse to register documents lodged to transfer the mortgage.

    However, Bitature through his lawyers wants Court to declare that it was illegal for Vantage to register the transfer until the completion of the Commercial Court matter.

    An affidavit from Moses Muziki, on behalf of the applicant stated that on 18th June, 2021, the applicant lodged documents relating to the transfer of shares in Simba Properties Investments Company Limited, Simba Properties Limited, Linda Properties Limited and Elgon Terrace Hotel Limited.

    He added that the respondents did not comply with the law and did not provide the applicant with a satisfactory reason for not registering the shares and their lawyers learnt that the respondent’s lawyers were requesting to halt the process.

    “This Court would have issued an order of mandamus compelling the applicant’s request to consider the registration of their documents on merit or advance reasons for denial or refusal to register the same in accordance with the law,” the judge ruled.

    Muwema based on the above ground to protest the process of auctioning their client’s properties.

     

    By Sengooba Alirabaki

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    MY MONEY

    Ministry Of Works Lifts Suspension On Link Bus Company After Accident That Killed Over 20 People In Fort Portal …

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    The government has agreed to lift the two-week suspension that had been imposed on Link Bus Company after the accident that claimed over 20 lives and left several others severely injured in Fort Portal last week.

    According to the preliminary report from the investigation done by the Ministry of Works and Transport, the accident has been attributed to a human error on the side of the bus driver.

    Following the deadly accident, the government consequently suspended Link buses for a period of two weeks for investigations into what could have caused the accident.

    However, on Friday, the Minister for Works and Transport Gen. Edward Katumba Wamala revealed that the government has finally lifted the suspension.

    “Having gone through all the processes and convinced that Link Bus has taken the necessary process to address the challenges and have put in place measures to address gaps that were there, we have taken the decision to lift the suspension against Link buses,” Gen. Katumba said.

    “They can start going back to the routes and also address some of the gaps created by their absence,” he added.

    He said the decision to lift the suspension was reached after the bus company offered to pay the bills for burial arrangements and medical treatment for the dead and injured respectively.

    Gen. Katumba has thus noted that only buses and drivers that have been verified by the ministry will be allowed to operate.

    The lifting of the suspension comes as a relief to both members of the public and the bus company that has been anxiously waiting for this especially parents with students going back to school.

    Following the suspension of the bus company, the other bus companies plying the routes that Link buses were operating had taken advantage and hiked prices due to the influx of passengers and a number of passengers were on several occasions seen stranded after the suspension was announced.

    “We should avoid road carnage because it has adverse effects on families, overstretching health sector and economy. It is my appeal that all users are responsible while we use the road. As a driver, consider yourself the only sensible person on the road. You must know there is a vehicle in front, front the sides, behind and Boda Bodas,” Gen. Katumba cautioned.

     

    By Kobusiinge Monica

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