Details are slowly emerging on the registration and ownership of Russian firm Joint Stock Company Global Security which will be taking a lion’s share of the money paid by Ugandans as traffic fines.
Formalized by Uganda Registration Services Bureau (URSB) as a foreign company operating in Uganda in March 2023, according to records seen by The Pearl Times, Joint Stock Company Global Security had inked a multi-billion deal years before it was registered in Uganda.
By 2022, when Parliament of Uganda was discussing the deal for digital number plates and an intelligent system to automatically charge fines a large share of which will go to the Russians, no company existed.
So, who owns Russian firm Joint Stock Company Global Security? Records from URSB, copies of which The Pearl Times has seen indicate that two Russians are the owners of the firm.
Ivan Shkarban is listed as the director of Joint Stock Company Global Security while Dmttri Bassngov is listed as the secretary of the company.
The two Russians are represented by a Ugandan named Juma Lubega, who is listed on the official Uganda Registration Services Bureau as the Ugandan representative who can received notices and transact on behalf of the company.
It should be remembered that there had been questions about the Russian firm after shocking revelations that it had been declared bankrupt (broke), as reported Here and There.
This week, most Ugandans who had not been following the deal between Museveni’s government and the Russian company until it began to bite through heavy traffic fines learnt that 80 per cent of the money would go to Russian investors, as reported Here and There.
As The Pearl Times had reported, the juicy deal for the Russian company divided Museveni’s ministers and generals, with a hard hitting letter one of them had reportedly written to the president being hidden and blocked from reaching the commander in chief, as reported Here and There.
The latest on the express penalty system of traffic fines is that Minister Katumba Wamala has suspended it amidst threats of a strike by taxi operators following a stormy meeting with a transport ministry commissioner. (See Details Here and There).
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