Over Shs 2.3 billion has gone missing at Posta Uganda. The money had been paid to the government parastatal by the Postal Corporation of Kenya in respect to money transfer services and has since gone missing through unclear circumstances. Posta Uganda`s situation is further complicated by a growing debt worsened by a recent cash scandal involving the alleged misuse of $1.2 million by the Posta Uganda officials. Posta Uganda, is headed by James Arinaitwe and is indebted to the tune of Shs 12 billion.

NFA executive chief charged with fraud

Paul Drici, 53, the National Forestry Authority (NFA) director in-charge of plantations was last week charged with giving a bribe of Shs 4.3milion to an auditor. Drici allegedly gave the bribe to Amos Byarugaba, an auditor with the office of the Auditor General. Byarugaba was last week charged with receiving a bribe from Drici. Drici had wanted Byarugaba to alter an audit report on procurements and disposals at the forestry authority. The Shs4.3 million was part of a Shs 20million bribe that Byarugaba had demanded to influence the outcome of a probe he was conducting at NFA.

Museveni commissions Kamonkoli Clays factory

President Yoweri Museveni last week commissioned the Uganda clays Kamonkoli brick and tile factory. Museveni told the gathering the factory symbolised the NRM 10 point programme of having an economy that is integrated and self-sustaining. John Wafula the Uganda clays Chief Executive officer said the factory cost Shs 35.2 billion to put up. Shs 12.5 billion was borrowed from Standard Chartered Bank, Shs 7.7 billion from the East African Development Bank and the remaining Shs 5.4 billion was generated internally by the parent company the Uganda Clays Kajansi. The factory was positioned at Kamonkoli to serve other parts of Uganda which are not near Kajansi, and to be in a position to serve the export market.

Turkish Airlines to fly to Entebbe

Turkish Airlines, Turkey's national flag carrier, is to begin operations in Uganda.

The Airline has already secured a direct route between Entebbe and Ankara and commercial flights between the two destinations are scheduled to commence before the end of March.

Turkish Airlines operates flights to 120 international and 37 domestic cities in Europe, Asia, Africa and the Americas.

Two East African CEOs named among 50 star managers

The Financial Times magazine of London last week named Nakumatt Chief Executive Atul Shah and Equity Bank's James Mwangi as some of the top 50 emerging market business leaders. Shah and Mwangi were named alongside other business leaders from China, Brazil, Russia and India.

The two were the only East African business leaders who hit FT's top ranks in a survey that features the world's business big hitters. Welcoming the report, Shah described the recognition by the Financial Times as a vote of confidence for the East African economies and pledged to further play a key role in deepening the regional retail market scene.

Shah has built Nakumatt into the biggest supermarket chain in East Africa.

Tusker Malt Lager in new bottle

East African Breweries Limited (EABL) has stepped up its battle for the beer market in Uganda and last week launched a new bottle for the Tusker Malt Lager. The bottle has a new emblem showing a racing elephant with a black halo around it. Below the image are the words Tusker in brilliant yellow glow and malt lager in fine print on a green background. EABL said the new brand will measure up to consumer standards. The bottle will maintain its green glass, but has the name Tusker embossed four times into the bottle rather than the normal paper label. The new bottle's capacity is 330ml compared with the previous 300ml and the recommended retail price is Shs 2000. Tusker Malt Lager was launched in the local market in 1996 after years as an export only brand, but has since found a niche of loyal drinkers locally.

Warid gears up for mobile money

Warid Telecom is in advanced stages of launching its mobile money services and will any time unveil it onto the Ugandan market. Warid's entry into the mobile money transfer service will bring to three the number of mobile money service providers in the country. MTN's Mobile Money and Zain's Zap money transfer services are already operational.

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