Headlines
- Record breaking figures at Kenya's biggest construction trade exhibition
- $2 Billion Massive New Nairobi Airport to be Constructed in Kenya
- Tanzania Gives Go-Ahead to Massive Sh80.85 Billion Mbamba Bay Port Construction Project
- KeNHA Unveils Strategic Sh394 Billion Plan to Construct Major Highways in Kenya
- Ruto’s Multi-Million Plan to Host the 2027 Africa Cup of Nations (AFCON) Tournament in Kenya
- Tanzania's Modern Industrial Park Project on Course with 3.5 Trillion Investment
- African Development Bank Greenlights $696.41 Million for Phase 2 of Tanzania-Burundi-DRC SGR
- Biggest construction trade exhibition announced in Nairobi at KICC
- President Ruto's Vision of Affordable Housing Projects Taking Shape in Kenya
- Ethiopia Receives $720 Million in Funding for Road Construction Project
Uganda govt to open up mineral sector
The current licensing policy is based on first come first service basis, which deprives the country of good resource rent which would otherwise accrue through competitive bidding.
“The licensing policy and regulatory regime is not robust enough to ensure strong governance,” Kabagambe-Kaliisa, said at the on-going the first mineral wealth conference at the Kampala Serena Hotel.
Kaliisa reasoned that the “first come, first serve” licensing regime was retrogressive because limited due-diligence is done on applicants (companies) to ensure financial and technical capacity.
“There is excessive speculation and several licensees (companies) are in default of the terms and conditions of mineral rights,” Kaliisa noted.
“There are no work programmes executed and licensees are just sitting on acreage (licensed areas). No returns being filed (and there is) transfer of licenses with no work done.”
The change in policy comes at a time when several mineral targets have been identified as a result of the airborne geophysical, geological and geochemical surveys carried out.
Tumusiime-Mutebile, the Bank of Uganda governor, said revenues from natural resources should be invested in infrastructure like roads, railways and electricity as well as in education to build quality human resources capital.
“Strengthening transport and power infrastructure could reduce significantly the cost of doing business in Uganda,” he said.
Elly Karuhanga, the Uganda Chambers of Mines and Petroleum boss, said there was a need to create necessary investment to attract investors into the mining sector.
Source : in2eastafrica.ne
Posted on : 30 Nov,-0001
Buildmart is Africa's leading directory and market news website for the building and construction industry | Kenya | Tanzania | Rwanda | Ethiopia
Exhibitions In Africa
- 25th Buildexpo Kenya 2024
KICC, Nairobi, kenya
05 - 07, June 2024 - 09th Afriwood Kenya 2024
KICC, Nairobi, kenya
05 - 07, June 2024 - 09th LightExpo Kenya 2024
KICC, Nairobi, kenya
05 - 07, June 2024 - 08th Minexpo Africa 2024
KICC, Nairobi, Kenya
05 - 07, June 2024 - 25th Buildexpo Tanzania 2024
Diamond Jubilee Expo Center, Dar-es-Salaam, Tanzania
12 - 14, Sep 2024 - 08th Afriwood Tanzania 2024
Diamond Jubilee Expo Center, Dar-es-Salaam, Tanzania
12 - 14, Sep 2024 - 08th LightExpo Tanzania 2024
Diamond Jubilee Expo Center, Dar-es-Salaam, Tanzania
12 - 14, Sep 2024 - 08th Minexpo Tanzania 2024
Diamond Jubilee Expo Center, Dar-es-Salaam, Tanzania
12 - 14, Sep 2024