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Income of collective investment schemes in Uganda – what exempt from tax means

The Capital Markets Authority (CMA) licenses Collective Investment Scheme (CIS) in Uganda. According to the CMA website, the licensed schemes include Britam, ICEA, UAP, Sanlam, SBG and Xeno. What is a CIS? This is defined under Section 3 of the Collective Investment Scheme Act of 2003 as “….any arrangement with... Read More

March 22, 2023    By Dr Albert Richards Otete

Managing for members’ value – what successful retirement schemes do well

According to the Uganda Retirement Benefits Regulatory Authority (URBRA) Pension Digest 2021, interest declared by retirement benefits schemes (RBS) in Uganda varied from 8.0% to 18.5% per annum.  Evidently, some RBS are more successful in delivering value to their members.  What factors distinguish outperforming RBS from the rest of the... Read More

January 3, 2023    By Robert Katuntu

Internal Capital Adequacy Assessment Process (ICAAP) – Primer 2

A good ICAAP should meet the following standards: JSR has a structured approach to ICAAP that starts with understanding your business: We have a team of uniquely qualified and experienced ICAAP consultants led by: Robert Katuntu, CFA, CPA, MBA (+256 786 624855) Albert Otete, PhD, CPA (+256 772 703444)

November 28, 2022    By Robert Katuntu

Internal Capital Adequacy Assessment Process (ICAAP) – Primer 1

ICAAP is a risk management process, a key aspect of Basel III. It is a process through which a bank identifies, measures, aggregates and monitors material risk. The bank ultimately builds a risk profile that becomes the basis for allocating capital. Under Basel III, bank supervision is moving to Pillars... Read More

November 28, 2022    By Robert Katuntu

Uganda’s predictable business failures.  What lessons?

“12,000 Schools on Sale Over Loans” proclaimed The New Vision headline on 30 September 2022.   The newspaper reported that one of the affected entrepreneurs lost a school valued at UGX5billion (USD1,320,000) after failing to clear a five-year loan of UGX1.6bilion (USD430,000)    To service this loan at a typical interest... Read More

September 30, 2022    By Robert Katuntu

Will assignment of retirement benefits make sense?

In May 2022, the Minister for Finance, Planning and Economic Development launched the Uganda Retirement Benefits Regulatory Authority (Assignment of Retirement Benefits for Mortgages and Loans) Regulations, 2022. This regulation was long overdue following several pleas from savers. The regulations are detailed enough and everyone ranging from the saver (member),... Read More

May 12, 2022    By Robert Katuntu

Insolvency and Business Restructuring in Uganda

In March 2022, the Uganda Registration Services Bureau (URSB) hosted the fifth Annual Insolvency conference under the theme “Emerging Trends in Corporate Restructuring in Uganda: What to expect and how to prepare “. This conference was timely given the negative financial impact occasioned by the national lockdowns arising from the... Read More

April 7, 2022    By Robert Katuntu