Early Sell-Off for Ugandan Enterprises

African Business, March 1995 | Go to article overview

Early Sell-Off for Ugandan Enterprises


A number of important public companies which the Ugandan Government had intended to retain will be offered for sale to reduce Government involvement in business, the Minister of State for finance and Economic Planning, Mr Rukakaire Methews, has announced.

The Minister, who is now in charge of the privatisation of state assets, said the Government would revise the classification of enterprises for sale provided for in the 'Public Enterprises Reform and Divestiture Statute' (PERDS), saying, "We should be able to come out with the final classification very soon".

President Museveni had dissolved PERDS on January 3 this year amid unsubstantiated claims of rampant corruption within its controlling body. Mr Rukakaire took over the task of selling off Uganda's non-performing and loss making state enterprises as a result.

Economists say Mr Rukakaire is in a position to speed up the exercise since he has the authority to make vital decisions without referring to any other Government officials as was the case with the former PERDS coordinator.

Under the original classification, the state had intended to retain at least 10 enterprises, a majority shareholding in 17, and a minority shareholding in a further 20. It was to fully privatise 43 enterprises, and liquidate 17 others.

The Minister has since hinted it likely that enterprises like the Uganda Commercial Bank and the Telecommunications Department of the Uganda Posts and Telecommunications Corporation will be offered for outright sale. He did however say that the two giant corporations were among those in which the state wanted to maintain a majority shareholding. The others include the Sheraton Kampala Hotel, Kilembe Mines, the National Insurance Corporation Uganda Dairy Corporation and the Steel Corporation of East Africa Ltd.

According to the original statute, the state was required to retain 100% shareholding in the Uganda Electricity Board, the Uganda Development Corporation, Uganda Properties, the National Water and a sewage Corporation and the Uganda Development Bank. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Early Sell-Off for Ugandan Enterprises
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.