Truth is 50k. Apply 1 for 1 on 5k gives 10k. Next is bonus of 4 for every 1 to be applied on 10k. Hesabu ngumu!

@wazuans hii bigchick haitaki kutumia safaricom bundles ama nini mbaya na yeye.. anywho, reach the registrar
Norah Baagala |Assistant, Administration | Legal Department | Stanbic
Bank 11th Floor, Short Tower| Crested Towers, 17 Hannington Road | P.O.
Box 7131, Kampala, Uganda Tel +256 41 7 15 4337 | Fax +256 41 4 259012
| email: baagalan@stanbic.com |
internet: www.stanbicbankug.com

@bigchick pole sana. that registrar should not send you to the broker without giving you adequate information. try again and also think of changing your broker to AfricaAlliance.. I find AA to be quite professional

Big chick,
According to USE rules, the current owner of the shares is the legitimate owner and hence is the one that can issue sale orders. Two options I can think of are as follows;

Option 1
I assume that you have an SCD account for Uganda. If no, first open one. If yes, apply in writing to the CEO of the USE, through your broker, requesting a private transfer of the shares from the current owner to yourself. You require signed affidavits by both yourself and the current owner of the shares affirming that indeed the purchase of the shares was done by you even though you used someone else’ account. You need to complete SCD form 7, provide identification and photo ID etc.

Option 2
Have the current owner sell the shares and give you the proceeds. I assume this shouldn’t be difficult given that you trusted them enough to buy shares using their account. BTW, they should be able to refund the dividends paid in prior periods. Note that it is also easier for the current owner to follow up on these dividends as opposed to you doing the follow up.

Note that with regards to brokers, I would not expect SBG Uganda to help you as their focus is 99% on institutional clients and little or no involvement with retail clients. Nevertheless, the procedure is what it is and I suggest you follow it to the letter to avoid future inconvenience.

With regards to ID, if you already have an SCD account, you can provide whichever ID you used when opening the account. Hence it does not have to be a passport.

Hope that helps

Aaand..Action!!

First Uganda Oil Flows in 2016, says Muloni

Uganda is set to have its first Oil flow in the next two years, Minister of Energy Hon Irene Muloni has said.

This follows Wednesday's signing of a Memorandum of Understanding between Government and the three licensed Oil companies, Tullow Uganda, CNOOC and Total E&P. - See more at: http://chimpreports.com/...ml#sthash.kuvRn5hq.dpuf

The year NSE will do 300% in a year peoole will hate themseofs.
Lord let be me in the market at that time.

Habari ndo hiyo..

President Yoweri Museveni urged the oil firms to “move fast” because Ugandans have waited for long to see the first oil production.

“We as Ugandans are a bit impatient because we want to use the oil money for the development of infrastructure,” he said in a statement yesterday.

“I call upon the oil companies to be fast so as to revamp the economy of Uganda. Oil is important. We want fast development in order to go to double digits in the growth of Uganda’s economic growth (GDP) of 11 and 12.”

Jimmy Mugerwa, the Tullow Uganda country general manager, said the delay in signing the deal was because the project involves “huge investments.”

“We are talking about close to $15b investment. Our boards had to think and discuss before making decision. It is huge investment,” he said.

Xiao Zongwei, the CNOOC Uganda general manager, pledged to “deliver the project as quickly as possible” to meet all stakeholders’ expectations. “It is our duty,” he said.

http://www.newvision.co....-oil-value-addition.html

@SittingPretty Singling out Tullow, I'd say that it is a publicly listed company and its home bourse has high level disclosure rules with stiff sanctions. Hawa si watu reja, reja. Also, take time to study the journey that UG had to go through to get to this stage. It will shed a lot of light.

Let's recap.

- Oil is still in the ground.
- Oil prices (Brent) at $37-ish. In other words, too low to start pumping out waxy UG crude.
- 2016 production? Yeah, right.
- UGX/USD = 3400-ish UGX/KES 34-ish [Should have cashed out at 30-ish]
- SGR hasn't reached Nairobi and there's Eurobond drama. When will it get to Malaba? Not before 2020. Can the Ugandans afford to fund their portion?
- LAPSSET is sleeping as current oil prices have made the pipeline unviable.
- Refinery. Who will fund it?