Christos Tzolis played 81 minutes, won six duels and completed three passes into the final third as Greece beat Germany 1-0 in the UEFA Nations League! 💪🇬🇷
A solid shift from Tzolis! 🔴
NSSF Uganda and Hon Tumukunde’s Speech. The Transformation should be for the Workers.
1 Saver was credited with over 2 billion.
83% of savers Barely got 2 million in interest.
Less than 40K Savers have 100 million in Savings
.https://t.co/AuPOiqAG7B
This decision is important for borrowers and money lenders. 👇🏻
The Supreme Court has held that a "Legal Mortgage" containing loan terms and "it is hereby agreed" wording was a hybrid mortgage and loan agreement. As such, it required execution by both the borrower and the lender.
In this case, the borrower, Alice Okiror (the 1st Respondent), and the lender, Global Capital Save (2004) Ltd (the 1st Appellant). The document bore no company seal, and there was no evidence that the 2nd Appellant, Ben Kavuya, who signed as Director, had authority to sign for the company. The document was therefore not duly executed.
The majority held that, where registered land is concerned, the execution provisions of the Registration of Titles Act prevail over the Companies Act. A corporate mortgagee signing through a director must therefore show authority by seal, resolution, articles of association or power of attorney.
Mugenyi, JSC took a contrary view. She held that the instrument was in substance a mortgage deed, that a mortgagee need not execute a mortgage at all, and that a company may sign through a designated director.
Whichever view is preferred, lenders should keep proof of their signatory's authority on file, and should use a separate loan agreement and mortgage deed rather than a single hybrid document.
Very understandable. The effect I am watching is how shareholders are likely to get diluted over time.
If split happens, it will be a company with different shareholders. Only way investors will participate in any upside is through MTN Uganda directly.
Any more shareholders to the Cap table will dilute MTN Uganda's shareholding. That's the point where the "1%" ceases being "1%"
Uganda now has two big telecom stocks on the USE: @mtnug and @Airtel_Ug.
Over the weekend, I asked myself If I could only own one, which should it be?
To start I looked at three years of audited results for both their prospectus, built a model, and compared them side by side.
At the time of my research Airtel Uganda was trading at UGX 187 and MTN Uganda was at UGX 445 on @USEUganda
I compared the two companies across 22 measures.
Here's the interesting stuff I found 🧵
This weekend, I spent time digging into MTN and Airtel Uganda financials. Trying to assess which of the two is a better investment.
I had to go back to the prospectus of each. Honestly, in 2021 when MTN lPO'd I didn't understand any of that stuff. Now I am in a better position.