|FILE PHOTO: Karuhanga|
"I have calculated and found that if government implements the social media tax, it will receive about $100m. After looking at the benefits and disadvantages...to be honest with you, if this came to my board, and I compare the fallout, I would cancel the $100m," Karuhanga said.
Speaking on The Capital Gang on Capital 91.3Fm in Kampala on Saturday, Karuhanga said if it had been up to him, he would not have okayed the move.
Karuhanga, a former Member of Parliament himself, said the decision was a clear case of bad policy, and wondered how the legislators allowed the new law to pass.
Lawyers Annmary Nanfuka, Robert Kirunda and MP Ibrahim Ssemujju were on the lively Saturday show moderated by lawyer-to-be Charles Odongtho, who stepped in for Oskar Semweya-Musoke. Oskar is away in Russia for the World Cup.
The 'gangsters' also commented on commercialization of politics and the ongoing Local Council LC1 elections.
Karuhanga also dismissed social media reports that his DFCU bank is in trouble and said the bank is positioning itself to benefit on several infrastructural projects like hydro-power dans, major roads and oil that will be in place by 2020.
ELLY KARUHANGA: The year 2020 is the most beautiful & exciting Ugandans can look forward to. #Karuma & Isimba will be up, the Expressways will be finished, oil production will be in full gear.... Kabale airport will be 2nd largest airport in #Uganda. #TheCapitalGang #Tourism pic.twitter.com/RS2bfs015O— Louis Jadwong (@Jadwong) July 7, 2018
ELLY KARUHANGA: Many people have in the past confused DFCU & FDC. The talk about us on #socialmedia has now made DFCU a household name in its own capacity. We are going to get a lot of social capital from this. #TheCapitalGang— Louis Jadwong (@Jadwong) July 7, 2018
ELLY KARUHANGA: Look at the negative impact it will have on farmers who were starting to use SMS for info and the entrepreneurial young people. There is a disconnect between the board (#Uganda govt) & the people. #SocialMediaTax #MobileMoney #TheCapitalGang— Louis Jadwong (@Jadwong) July 7, 2018
ELLY KARUHANGA: I googled 'where is this law implemented in the world' and only #Uganda came up! It is bad policy. Our legislators did not know they were going onto new ground, they would have thought twice. #MobileMoney #SocialMediaTax #TheCapitalGang— Louis Jadwong (@Jadwong) July 7, 2018
KIRUNDA: We need to deal with this at various levels. 1.The quality of MPs 2. NRM strategists who have brought the rich & poor on the table of discontent. 3.If tech giants invest, why shd they continue if u tax their main products— Louis Jadwong (@Jadwong) July 7, 2018
#MobileMoney #SocialMediaTax #TheCapitalGang
NANFUKA: It is about the failing economy, and people have to find an income. Politics is one of the legitimate ways to make a living. #LCelections #TheCapitalGang— Louis Jadwong (@Jadwong) July 7, 2018