Opportunities abound in tourism - Museveni

Tourism Uganda Opportunities abound in tourism - Museveni

Floods in Kasese

The deputy Minister of Disaster Preparedness; Musa Echeru has confirmed to NTV that 4 people died and four others are missing in the wake of the Kasese floods which washed away homes in Kilembe sub county. This follows the two days heavy rain around the Rwenzori mountain areas which caused flooding that has affected over 5 sub counties. According to Echweru, government is sending relief supplies to the affected community as the search and rescue continues from the management of Kjong safaris we feel sad for the People of Kasese Our close friends on our way to Queen Elizabeth National Park

Uganda News.

Dutch bank seals DFCU merger By Samuel Sanya

Dutch Rabo bank has completed the purchase of 27.54% ownership of the Development Finance Company of Uganda (DFCU), as a one week voluntary suspension from trading on the share markets was lifted on Thursday.

Actis, a London based Equity firm sold a 45% stake in the Development Finance Company of Uganda (DFCU) bank to the Rabo development B.V and Norfund, a Norwegian development agency for sh111.9b (approximately $44m). The transaction is subject to a 15% withholding tax payment worth sh17b to the Uganda Revenue Authority. The merger is the first ever divestiture by a listed private company. Kenneth Kitariko, the African Alliance Uganda boss notes Uganda’s share markets are now ready for big business adding that the merger will improve DFCU’s technical capabilities. “The local share markets are now capable of handling large transactions in an efficient and transparent way. We would like to see more infrastructure bonds and listed companies on the share markets,” Kenneth Kitariko, the African alliance Uganda head said. “Uganda’s securities markets now have the ability to raise large sums of capital for investors. We expect that more companies will use equity as opposed to getting bank loans,” he added. Kitariko made the comments at a media briefing by officials from Rabo bank, DFCU, USE and the Capital Markets Authority (CMA). The DFCU delegation was led by Board Chairman, Samuel Kibuuka and Non Executive director Elly Karuhanga. Actis retains a 15% stake in DFCU bank after shedding a 27.54% stake to Rabo Development B.V and 17.48% to Norfund. Minority Ugandan shareholders hold 39.97% of DFCU bank. Japheth Kato, the Capital Markets Authority (CMA) boss noted that the transaction will improve the corporate governance of DFCU bank and set positive precedent on the Ugandan share markets. Representatives from Rabo bank and Norfund will join the DFCU board to increase oversight of the banks activities. Niels Berendsen executive director Rabo bank noted that the bank will devote its efforts to building a local agricultural finance scheme of farmers and buyers in line with its global focus on agriculture. “We want to accelerate inclusive banking in Uganda through the Agricultural sector. We have more than 150 years’ experience in agricultural finance which we intend to deploy in Uganda through DFCU bank,” he said. Juma Kisaame, the DFCU bank managing director noted that the merger establishes the bank as a major player in the banking sector. The bank is set to open a new agricultural finance division to increase funding to the sector. “This transaction enables the USE to tap into 75% of the Ugandan population that is currently employed in agriculture. We are expanding participation and knowledge of the share markets to more Ugandans as DFCU targets the farmers,” Joseph Kitamirike, the USE boss said. He also noted that the timeline for the much awaited electronic share trading system has been extended due to technical glitches; a new date for the system will be announced later this month. The electronic system integrates the share markets and the banking system making it easier for the public to purchase and sell shares. The system was successfully tested during the November 2012 UMEME IPO. The South African equity markets, which operate through an electronic trading system, have a daily turnover of over $1b (sh2.6trillion), over 100 times the USE’s daily turnover. “We will have the most technologically advanced trading platform in Africa in 2013. The next IPO (Initial Public Offer) will be carried out electronically,” Kitamirike pointed out recently.

Kjong safaris at INDABA 2013

Kjong safaris will be attending this year INDABA 2013 from the 11th-14 may 2013. we look forward seeing you there for appointments you can contact us on info@kjongsafarisuganda.com and telephone number +256-751646578.

Uganda.................New Bird Species.

Grey pratincole is the latest addition to Uganda’s wide bird family sighted in November 10th 2011 at 15:05 hours on the kazinga channel, Queen Elizabeth national Park. It is a west-central African bird which means that it is a vagrant here. A single bird was recorded in East Africa in October 1991 in Rusizi national park, Burundi. At the moment, there are about 3 to 5 of these birds on the kazinga channel.

5 DAYS KIDEPO GROUP TOUR..............

Once, not so long ago, a forgotten land lay in the remote north-eastern corner of Uganda. Today, Kjong Safaris is bringing Kidepo Valley National Park back to life. Voted among the 10 Best national parks in Africa by CNN channel, Kidepo is a sight not to be missed. Let us introduce you to its magnificent landscapes and its unique fauna. This is the only national park in Uganda where cheetahs and ostriches can be found. On this trip, Kjong also offers you the opportunity to meet face-to-face with one of the most distinctive tribes of this country, the Karamajong, who share the same ethnic origin as the Pokot and Masai from Kenya, and after whom the Kjong company was named. Come and experience the fascinating terrain of Kidepo Valley National Park and embrace the traditions of the magical Karamajong people, true jewels of Uganda. Kidepo Valley Group Safari Day 1: Drive to Kitgum with a stop for lunch in Gulu Day 2: Drive to Kidepo Valley National Park Day 3: Full day game drive Day 4: Drive to Gulu Day 5: Drive to Kampala Rate for safari Price per person US$510 Camping in 2-person safari tent Minimum 4 people, maximum 8 people Online bookings receive US$80 discount Meal Provisions Day 2: breakfast and dinner Day 3: breakfast, lunch and dinner Day 4: breakfast All other meals are at the expense of the client. Not including personal expenses, entry visa to Uganda, meals not specified in itinerary, international airfares, medical and travel insurance Including 4x4 safari van, English-speaking guide/driver, accommodation as specified in itinerary, 24 hour ranger guide, all meals while in national park, all park entrance fees and activities listed in itinerary compiled by Muhumuza Stephen +Kjong safaris.