AMAZING GRACE OF THE LORD

oh my lord i thank you for your help,i will sing for joy because he has done a great job on me and in addition i have received different benedictions this last week.that why i will raise his name up and tell the nations the strength of the Lord.

I WANT TO MEET YOU

MY FRIENDS WHAT WILL HAPPEN WHEN a person beat another one this may not happen in the global world because everybody is here for a purpose enjoy this music below :

TODAY'S WONDERFUL!

•  I Have received the wonders from the heaven and now I'm laughing because I'm very happy AND I WANT TO TELL YOU PEOPLE that when you believe in JESUS you never dismay because JESUS become your light and lead you towards heaven so play the Al might GOD and you will never be ashamed

• You have to know that praying is very useful thing to do so that you beccome most popular aqnd be accepted by the lord

thank you my Lord because you have done a great job on this year.amen.

Trading obstacles hurt Umeme shares at NSE

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A customer care staff explains about different voltage metres at the Lugogo Umeme Centre in Kampala. Umeme shares began trading at the Nairobi Securities Exchange on December 14, 2012. File Photo. 

By Nicholas Kalungi

Posted  Wednesday, December 19  2012 at  00:00

In Summary

The market systems of both Uganda Security Exchange (USE) and NSE are not inter-connected; thus, cannot facilitate trading for cross-listed companies.

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inShare

Kenyans will have to wait a little longer before they can buy Umeme shares directly from the Nairobi Stock Exchange (NSE).

Even though Umeme—the country’s main power distributor— started trading its shares at the NSE secondary market on Friday, media reports reported yesterday that Umeme’s shares had failed to trade for the second consecutive day after entering the market last week.

This is attributed to the fact that the market systems of both the Uganda Security Exchange (USE) and NSE are not inter-connected; thus, cannot facilitate trading for cross-listed companies in the region.

While explaining this matter, Mr Kenneth Kitariko, the African Alliance chief executive officer, said the issue revolves around were the shares are located; how one can access them and later make a transaction.

“What is happening is there is no mechanism to facilitate trade. For a transaction to occur under the current circumstances, one needs to make these electronic shares (viewable on Nairobi counters) physical through getting a certificate from Uganda and then taking it to Kenya,” Mr Kitariko said.

He added: “These shares are originally listed on the USE market. The people in Kenya can electronically view them at the NSE market but cannot buy them.”

Mr Japheth Katto, the executive director of Capital Markets Authority (CMA), acknowledged the presence of both regulatory and infrastructure obstacles.

He, however, said the regional capital markets authorities are committed to fixing some of their problems in the first quarter of 2013.

“There is a regulatory problem that we are working to fix. Companies cross-list but cannot sell shares. Our infrastructure is not inter-connected. It is a complicated matter but we hope that within the first quarter of 2013, we will have a solution to it,” Mr Katto said, adding:“In the long run, we are looking at having one integrated system that will enable all the five markets in the region to communicate together. Provided we can harmonise the systems and have common standards, we would have fixed this problem.”

Challenge of cross-listed counters
Mr Patrick Mutimba, the Makerere University director for investments, said cross-listed counters also face exchange rate challenges which may limit arbitrageurs and hurt trade.

“Arbitrage is where a trader seeks to take a risk less return from concurrently trading two securities in the same sector that indicate a clear case of mispricing. One may do this by selling the overpriced security while buying the underpriced security,” Mr Mutimba said.

He further explained: “The challenge will still be currency considerations since the Ugandan company earns Ugandan shillings while the Kenyan companies earn Kenyan shillings. This difference may be mitigated since all will be using the Automatic Tariff Adjustment by 2013 January.”

Umeme became the first utility company registered within East Africa but outside Kenya to trade its shares at the Nairobi Stock Exchange after its introduction of 1,623,878,005 shares of Umeme Holdings Limited on NSE’s Main Investment Market Segment (MIMS) at a reference price of about Shs 273 (Ksh8.8).

Prior to this, several companies registered in Kenya had cross-listed and are trading at the Uganda, Rwanda and Tanzania bourses but no company from these regional countries had ever cross-listed and traded at NSE.

In Kampala, Umeme’s share continues to trade at Shs275, the same amount it sold its share during the Initial Public Offering period.

UCC sets new deadline for counterfeit phones

A collection of mobile phones. Counterfeit phones have flooded the Ugandan market, prompting communications regulator UCC to set a deadline for blocking their usage. PHOTO. BY FAISWAL KASIRYE. 

By NICHOLAS KALUNGI

Posted  Friday, December 21  2012 at  02:00

In Summary

UCC’s move follows an increase in the influx of fake mobile handsets onto the Ugandan market.

Kampala

Communications regulator, Uganda Communications Commission (UCC), has issued a new deadline indicating that it will block counterfeit phones starting January 31, 2013.

The commission’s latest position comes about two months after the same body back-tracked on its earlier commitment to block fake phones from accessing any network in November this year, and instead shifted it to next year.

In a press statement, UCC said that all new fake phones will be blocked starting January 2013 while old counterfeits but already in use will be denied network access in July of the same year. “New counterfeit mobile phones that have previously not subscribed to any network shall be denied access to all networks. The proposed date for the implementation of this phase is January 31, 2013,” part of the statement reads in part.

Implementing deadline
It adds: “All counterfeit mobile phones, including the ones that have already subscribed to a network, shall be disconnected. The proposed date for the implementation of this step is July 1, 2013.”

But, Eng Geoffrey Mutabazi, the executive director of UCC told the Daily Monitor on phone yesterday, that while the commission is committed to block counterfeit phones as stipulated on the schedule, the process is a matter of public interest that may need to be postponed.

Eng Mutabazi said: “That is our timeline and if the public can respond positively, we can even implement this much earlier. However, we are aware that this is a matter of public interest that may involve discussions over the dates.”

The move by UCC to eliminate fake phones follows a growing entry and use of such handsets on the Ugandan market in recent months, following Kenya’s September 30 de-activation of sim-cards carried in fake handsets. This is in addition to the fact that fake mobile phones are far cheaper compared to original ones.

If implemented, thousands of people both users and traders, will be affected. Although there are no figures to quantify the number of fake phones on the market, a move through down town Kampala shows that many of the shops trading in phones have a bigger stock of counterfeit phones and parts than original phones.

Single father of five needs Shs107m for new kidney

Achora Masaensio Gwokto, a single father of five, needs Shs107m for a kidney transplant. Because of failed kidneys, he cannot do anything on his apart from talking. Photo by Rachel Mabala. 

By Christine Katende

Posted  Thursday, December 20  2012 at  00:00

Achora Masaensio Gwokto survived death when he went into a coma for 10 days in August, after his kidneys failed.

The problem started with diabetes that manifested in form of blisters on his feet in 1993. “I discovered later that I could be having diabetes after a postmortem report of a colleague of mine who collapsed and died revealed that he had diabetes,” he says.

Gwokto rushed to Mulago National Referral Hospital for a test but he was immediately admitted after doctors found out that his blood sugar level was very high. To save his life, doctors had to control the sugar level before he could be discharged. He was later advised to treat himself with an insulin injection that he had to have once every day, it is on this and some drugs that he has lived until this year in August when he went into coma.

After 10 years with diabetes, he developed high blood pressure which forced him to get medical insurance at International Hospital Kampala so that he could get treatment at any time. “Life did not improve. Instead, it worsened. Soon I would spend a day without urinating yet I used to go for short calls more than three times a day. The swelling developed again on the feet, legs and stomach,” he narrates.

The diagnosis
The routine check-ups Gwokto went for revealed that his kidneys had started getting ill and thus the body reactions. Doctors gave him drugs (he can’t recall which ones in particular) to treat the kidneys in vain. “I was then referred to Dr Ssekasanvu, a kidney specialist in Kamwokya, who told me that my kidneys had only remained with five per cent functioning levels. With that, he would not even recommend dialysis saying that the only option was to undergo a transplant because dialysis treatment is every expensive and does not solve the problem either,” he says.

After three months, Gwokto says Dr Ssekasanvu referred him to Mulago for kidney failure tests that revealed both his kidneys had completely failed. It was after this test that he was advised to start dialysis treatment, towards the end of August. He received the treatment thrice a week at a fee of Shs1.2m but once missed a full week’s treatment, when his family failed to raise the money, as Charles Onen, his brother, notes. “Because we couldn’t sustain the treatment fees we asked the doctor to reduce the sessions to twice a week at Shs800,000, including the prescribed drugs.

Gwokto cannot walk so it is his brother, an air craft engineer with Uganda police, who lifts him from place to place. He cannot do anything for himself apart from talking. His diet is limited to posho, fresh fish and beans with some milk, once in a while, to balance his diet.

What he needs
Dr Robert Kalyesubula a physician (Nephorologist) at Mulago says, “Gwokto was diagnosed with hypertension, diabetes which developed into kidney failure with reduced urine output, difficulty in breathing, and aneamia. Apparently he has developed end renal disease which means that he needs an urgent kidney transplant if he is to survive,” he says. He needs about Shs107m for the air ticket, hospital fees, a caretaker, and up keep for a donor who he has not got yet.

The 49-year-old single father of two, who is also guardian to a late brother’s three children used to work as a civil servant with the local government in Moroto and later Kiboga.

To Help:
You can call Charles Onen Gwokto on 077-2408273.
Or deposit money on account no. 0140529139001 in the name of Achora Masaensio Gwokto, Stanbic Bank, City Branch