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Tuesday, May 18, 2021

China’s Hunan investors to build power transmission line

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Uganda and China’s Hunan province have signed a memorandum of understanding (MOU) expected to facilitate the construction of a power evacuation line from Achwa...

Alliance Global closed down over increased fraudulent

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Security in Mbarara district has closed the operations of Alliance Global which is said to be a Ponzi scheme, for allegedly fleecing...

SMEs must embrace digital technology to survive

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Small and Medium Enterprises (SMEs) constitute the biggest segment of the business sector in Uganda. They employ in excess of three million people and...

More turmoil as MTN chairman Charles Mbire is Interrogated by security

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Fresh details emerging from MTN have revealed that the telecommunications company chairman, Charles Mbire, has been quizzed over alleged espionage by the company staff....

Over sh835b misused in 2017-2018

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The Auditor General (AG) has established that over sh835.5b was either misappropriated or misused in the 2017/2018 financial year. The report covering the last...

Uganda & Rwanda lock horns over 32 tonnes of cement

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Authorities at the Rwandan border have blocked a consignment of goods being exported to Rwanda, UGANDANZ has learnt. The goods three truckload...

Cooperative Bank owners demand accountability of assets from BOU

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Almost 20 years down the road since Co-operative Bank was closed, shareholders and directors say they have since not had access to the evaluation...

Arua CAO, deputy quit over missing sh509m

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The local government permanent secretary, Ben Kumumanya, has interdicted Ismail Ochengel, the Chief Administrative Officer (CAO) of Arua and his deputy, Paul Samuel Mbiiwa,...

“She is Misplaced”- Finance, ICT ministries refute Akol’s claims on OTT

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Officials from information and communication technology (ICT) and finance ministries have denied claims by the commissioner-general of Uganda Revenue Authority (URA), Doris...

8 Chinese firms to set up at Mbale Industrial Park

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Eight Chinese firms have signed memoranda of agreement to start production at the SinoUganda Industrial Park in Mbale district. Two other firms have already...

Katuntu defends COSASE commercial banks probe report

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In the run-up to last week’s release of the committee on commission’s statutory authorities and state enterprise’s (COSASE) report on the closure of seven...

Niche banks under watch — Central Bank

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While some banks have been making losses for the last three years, the Central Bank has ensured that they do not present a threat to the sector

Museveni Launches Uganda’s largest Solar power plant

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President Yoweri Museveni has commissioned a sh91.4b solar power plant project to benefit rural households, schools and hospitals in the districts of Gomba, Butambala...

Shumuk boss appeals to President Museveni seeking protection

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City businessman Shukla Mukesh has written to President Yoweri Museveni asking for protection from what he termed as investor frustration and malicious prosecution in...

Finance ministry bosses who ate sh1b bribe have been jailed

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Two officials of the Ministry of Finance, Planning and Economic Development have been convicted of corruption offences and sentenced to two years’ imprisonment.

SHOCK!! Rwanda sends back trucks loaded with Ugandan goods

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Three Ugandan cargo trailers that have been held up in Rwanda since early last month have been sent back to Kampala with the...

Finance minister, PS clash over sh150b

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A fresh controversy has rocked the finance ministry, with the Permanent Secretary and Secretary to the Treasury, Keith Muhakanizi, clashing with the finance ministers,...

The government gives 60 ICT innovators sh6b

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Many residents of Kampala who have farms upcountry often worry about the health and safety of their herds. Such worries will soon be addressed...

Ugandan-Made Kayoola Bus ready to hit the market

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What started as a students’ idea at Makerere University is finally set to become a national pride. As...

Uganda one of world’s top 2019 tourist destinations

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The ranking cites futuristic cityscapes and modernist architecture to pristine rainforest and rehabilitated wildlife among the major attractions.

Gold Trust Bank sale agreement was signed two weeks before seizure — MPs

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Auditor General John Muwanga revealed that BOU sold the bank to dfcu without internal guidelines, regulations or policies in place to guide the identification of the buyer and valuation of the assets.

Government loosens requirements for acquiring Youth Livelihood Fund

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Cabinet has approved changes to ease access to Youth Livelihood Programme (YLP) funds, lawmakers sitting on Public Accounts Committee of Parliament heard...

Customers of DFCU in panic as their Bank exits fraudulently acquired Sudhir properties

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The embattled DFCU Bank has conceded and has decided to vacate all the branches owned by Meera Investments Limited, which is part...

Gold overtakes coffee as Uganda’s leading export earner

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Higher exports of gold in January compared to December were the highlight of a period in which the country’s export earnings declined....

Kiira Motors fail to account for sh24b car assembly plant

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Legislators on the parliamentary committee of science, technology and innovation last week quizzed Kiira Motors Corporation (KMC) officials to account for sh24b released for...

BOU Saga : MPs demand accountability for sh478b

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MPs investigating the closure of seven defunct banks have asked Bank of Uganda (BOU) to account for sh478b that was purportedly injected...

Closed borders won’t affect Uganda’s trade – Museveni

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President Yoweri Museveni has described the closure of the Uganda-Rwanda border as a temporary issue, which should not stop Uganda from trading, using other...

President attends blue economy conference in Nairobi

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President Yoweri Museveni has underscored sustainable conservation of water bodies as a prerequisite for human survival. “When we talk about blue economy, we are talking...

BoU Saga: Gov’t & BoU to print New Ugandan currency

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Members of parliament have advised the government to embark on the printing of a new currency in order to save the image...

Revamped Namanve industrial park to create 200,000 jobs

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Uganda’s economy is expected to create an additional 200,000 jobs once the impending redevelopment of Kampala Industrial and Business Park (KIBP) at...

Business owners more important than politicians, says Museveni

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President Yoweri Museveni has said the strength of the country to grow does not lie with either politicians, religious or traditional leaders but rather...

Full Details: How Balaam is set to lose shs18 Billion property to South...

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Businessman and events organizer Balaam Barugahara has accused South Sudan military officer Gen. Apollo Richard Kashif of frustrating his sh18.7b investment in...

Museveni gives his Final verdict on the UTL Saga

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President Yoweri Museveni has said any decision involving the process of identifying a suitable investor in the effort to revamp Uganda Telecom (UTL) should...

Middle East Boss held by Police over fraud and Human Trafficking

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Police are holding managers of labour exporting company – Middle East Consultancy – over allegations of fleecing people of large sums of...

Parliament approves sh40.4 trillion for 2019/2020 budget

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After a long budgeting process, Parliament yesterday passed the 2019/2020 national budget totaling sh40.4 trillion, up from sh32.7 trillion for the 2018/2019...

Gov’t to borrow shs2 Trillion to finance deficit budget

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The government yesterday presented before Parliament for approval a euros 600 million (about sh2.4 trillion) loan request, to finance the 2019/2020...

Uganda Airline Planes arriving in 2 weeks

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As part of efforts to revive the national carrier, Uganda Airlines, the company’s two Bombardier CRJ900 jets will touch down at Entebbe...

Local private Hospitals to start receiving government loans

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The Government is working out a plan to establish a Medical Credit Fund,

Gov’t to drop OTT tax and Introduce a tax on all internet bundles

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Uganda Revenue Authority (URA) has proposed a tax on internet bundles (data) instead of collecting OTT. This...

Kabaka’s University, St Lawrence & other top 30 Varsities to be closed down

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Thirty-two universities that have operated for more than three mandated years under a provisional licence face closure if they do not expedite the process...

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