Crane Bank was last year announced the bank of the year 2009 by the London Financial Times. This is Crane Bank's fifth successive time scooping the award. The bank's Managing Director A.R. Kalan told The Independent, ""This award shows our sound strategies and management coupled with good governance. Crane Bank recently opened a branch in the city suburb of Kireka in a bid to take banking services nearer to the people. The Kireka branch brought Crane Bank branches to 11 countrywide.

The bank plans to open more branches this year, which is expected to bring the total to 15 by June. Crane Bank's customer base has since its inception in 1995 grown to 230,000, up from 140,000. Crane Bank is among the few indigenous Ugandan banks. Kalan said the bank's financial statement of 2008 was good, indicating a return on equity of 40.66 % compared to 39.15 % in 2006.

NHCC rebranded National Housing

At the end of last year the National Housing and Construction Company Ltd (NH&CCL) rebranded to National Housing (NH). The NH is jointly owned by the Uganda government which controls 51 percent of the shares and the Government of the Libyan government, with 49 percent stake. The rebranding came with an ambitious plan where the NH plans to build over 2,000 housing units by 2012. The NH Chief Executive Officer, Joseph Kitamirike, during the company's rebranding ceremony mid last month said: ""To achieve this plan, we intend to invest Shs200 billion in three years." "People should expect many more houses with different qualities; we will definitely reach the low income earners." The initiative is expected to reduce the country's housing shortage, currently estimated at 1.6 million housing units, which are required to meet the rising accommodation demand.  Kampala alone needs more than 100,000 houses. Kitamirike said: "Building many houses for low income earners especially in circumstances where the inflation is high and people can't borrow money to buy houses has been and still is our biggest challenge." National Housing is currently partnering with financial institutions, which offer mortgage financing to clients interested in owning homes which include Standard Chartered Bank, and Stanbic Bank Uganda.

Bandebiire leaves NSSF

Martin Bandebiire, who has been the acting Managing Director of the National Social Security Fund (NSSF), will not return to his previous position as corporation secretary when the government appoints a new team to manage the Fund early this year. Bandebiire notified Finance Minister Syda Bbumba of his intention to end his NSSF contract late last year. Bbumba accepted his resignation effective December 30, 2009. Bandebiire was appointed in acting capacity after David Chandi Jamwa and Prof. Mondo Kagonyera were suspended in December 2008 following the Temangalo land scandal. Their contracts are due to expire in February 2010. Bandebiire has worked with the Fund since 2001, has served twice as deputy corporation secretary, acting corporation secretary and acted as Managing Director from September 2004 to February 2007 when Jamwa was appointed MD. He again took over the helm of NSSF after Jamwa's suspension.

Nile Breweries to build Shs32bn malting plant

SABMiller, a subsidiary of Nile Breweries Ltd, is to construct a $16 million (Shs32 billion) malting plant following the success of its initiative to convert locally grown barley into brewing malt. Construction of the plant is slated to start in January 2010 on Nile Breweries site in Jinja. It's expected to be completed by the end of year. The investment comes as a result of the success of the local raw material sourcing strategy which SABMiller is seeking to introduce across all of its African operations. The use of the local raw materials began in 2002 when Nile Breweries launched Eagle Lager and Eagle Extra both of which are brewed using local sorghum grown in Uganda. This local sourcing model is now being extended to include barley for Nile Breweries other beer brands, necessitating a local malting facility. Purchases of sorghum by Nile Breweries has multiplied from 1,600 tonnes in 2003 to 12,000 tonnes in 2007 and provided income of close to $2m to about 8,000 farmers and associated beneficiaries. In the 2008 Socio-Economic Impact Study of Nile Breweries operations in Uganda, Prof. Ethan Kapstein of INSEAD calculated that the business generated $92m of value added to the Ugandan economy, and directly or indirectly supported 44,000 jobs. SABMiller Africa Managing Director Mark Bowman, said, "The construction of the new malting plant in Uganda is further evidence of what can be achieved when African governments and business work collaboratively to benefit the local communities where SABMiller operates."

MTN sues UCC over interconnection rates

MTN Uganda, the leading telecommunications company, has sued the Uganda Communications Commission (UCC) for allegedly imposing on it lower interconnection rates with other telephone operators. UCC is the regulator of the telecommunication industry. MTN says that on December 7, 2009 UCC fixed telephone interconnection rates at Shs131 for mobile and fixed termination near end, Shs125 for fixed termination far end, Shs25 for transit, Shs15 for SMS termination and wholesale leased line charges at a retail rate of below 20%.

In the case filed at the High Court, MTN wants a declaration that UCC has no legal authority to fix telephone interconnection rates between MTN and other telephone operators. The company wants court to quash UCC's decision of fixing various interconnection rates among telecom operators.

MTN opened shop in Uganda in 1998.

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