Rystar News

MAN OF THE WEEK: Don Wanyama disproves sceptics, returns Vision Group to profitability fueled by a record growth in revenue Vision Group, Uganda’s largest multi-media company, this October released its full-year results for the year ended June 2022, reporting a 36% jump in gross revenue. The industrial-area-based Vision Group reported that turnover in 2022 touched the UGX 111.4 billion mark, compared to UGX 81.9 billion in 2021. This is the first time; the company is crossing the UGX100 billion mark in its over 35 years of history. Don Wanyama is the Chief Executive Officer at Vision Group PLC (PHOTO/Courtesy). The increase in revenue, however, came at a stiff cost—the cost of sales increased by 47.7% from UGX59.9 billion to UGX88.4 billion. In a statement, Vision Group, said this was largely due to a UGX24.9 billion for printing published educational materials/books. However, the company reported that it was able to reduce administrative and other operating expenses by 7.3% fr...

  The Uganda Broadcasting Corporation (UBC)’s satellite service provider has given the national broadcaster only seven days until September 30 to pay $988,225 (UGX 3.7b) arrears or risk being switched off.  If this switch off is implemented, it will affect more than 30 television channels and the free-to-air decoders that rely on UBC’s infrastructure to transmit their televised services. Daily Monitor reports that according to the satellite service provider, Intelsat, UBC’s arrears have accumulated for more than a year now. “We certainly would like to avoid such measures and would regret having to take actions that may result in termination of your services. We would also like you to consider opening a dialogue with us to consider governmental needs regarding connectivity requirements in Uganda,” reads an excerpt from a letter penned on 6th September 2022. Intelsat's Director of Finance, Hervy Mrjuna, wrote the letter to State Minister of ICT Godfrey Kabbyanga.  Last m...

The Uganda Registration Services Bureau (URSB) has relocated its head offices from George Street, Georgian House to its new permanent home at the Uganda Business Facilitation Centre. The newly completed UBFC facility is located on Plot 1, Baskerville Avenue Kololo opposite City High School. The impressive building that URSB has shifted to. The new office tis now at Uganda Business Facilitation Centre in Kololo   The head offices were relocated earlier this week on 20th September 2022. During this transition period, official said, all registration services (Business Registrations, Intellectual Property Registration, Insolvency Services) remain accessible at Georgian House, Level One until further notice. URSB is responsible for civil registrations (including marriages and divorces but not including births, adoptions, or deaths), business registrations (setups and liquidations), registration of patents and intellectual property rights, and any other registrations required by law...

  Compiled by Ruth Kiconco Rt. Hon. Robinah Nabbanja was appointed as Prime Minister and Leader of Government Business in Parliament designate, by H.E. President Yoweri Museveni on 8th June 2021 becoming the 11th person and first female, to occupy the office since Uganda became independent in 1962. Before this appointment, Hon. Nabbanja was the Minister of State for Health in charge of General Duties, a position she was appointed to on 14th December 2019. Nabbanja was born and raised in Kamusenene village, Nkooko Sub County in present-day Kakumiro District, Bunyoro, Western Uganda on 17 December 1969. She attended Nkooko Primary School before joining St. Edward’s Secondary School Bukuumi, for both her O-Level and A-Level studies. Between 1990 and 2000, Nabbanja obtained Certificates and Diplomas in Leadership, Management and Development Studies, from various institutions, including Uganda Martyrs University, Uganda Management Institute, the Islamic University in Uganda and th...

 By Atuhaire Bridget   With effect from next month, on the 1 St day of October 2022, the Government of Uganda will start earning Value Added Tax (VAT) from non-resident electronic service providers, including on social media like tech giant - Facebook. “As of October 2022, Facebook ads in Uganda will be subject to a value-added tax (VAT) at the applicable local tax rate,” said Meta, Facebook’s parent company over the weekend. “This applies to advertisers whose “Sold to” the country (Uganda) on their business or personal address is set to Uganda and who haven’t added their tax identification number (TIN) to their Facebook ad account,” the tech company stated. Mr John Rujoki Musinguzi the Commissioner General of the Uganda Revenue Authority (URA), speaking at a recent press conference. PHOTO/COURTESY VAT will be added whenever users/advertisers are charged for their ads, regardless of whether they are purchasing Facebook ads for business or personal purposes. “As VAT is ad...