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Tuesday, December 1, 2020

Ugandan traders excited by the Museveni-Kenyatta trade deal

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Ugandan manufacturers and traders dealing in sugar, poultry, beef and dairy products have commended President Uhuru Kenyatta (Kenya) and his Ugandan counterpart Yoweri Museveni...

Mobile money subscription shoots up, banks stagnate

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It is 10 years since the mobile money service was introduced in Uganda by MTN telecom. Following the innovation, other telecommunication companies joined the...

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...

Deported MTN ex-boss sues govt

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The former chief executive officer (CEO) of telecommunications company MTN Uganda, Joris Wim Vanhelleputte, has dragged the Government to court, challenging his deportation.

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,...

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...

“Whatever we did was in accordance with the law” Kasekende speaks out on COSASE...

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The central bank has roundly rejected the findings of the parliamentary committee on commissions, statutory authorities and state enterprises (COSASE) that there...

BOU governor’s powers should be trimmed – COSASE

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The parliamentary committee on commissions, statutory authorities and state enterprises (COSASE) has said the Constitution should be reviewed to stop the central bank governor...

Minimum Wage Bill wins legislators’ hearts on first day of debate

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Parliament yesterday started debate on the Minimum Wage Bill which received overwhelming support of legislators from across the political divide. The private member’s Bill,...

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...

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...

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....

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...

NBC was illegally closed, say Mbabazi, Rukikaire

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Six years since the National Bank of Commerce (NBC) was closed, the stakeholders and directors believe the Central Bank acted outside the...

Hwan Sung boss sold ghost land

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Police in Kampala are investigating a land fraud case in which suspected fraudsters reportedly connived with officials of the land office at Wakiso district...

M7 sets tough terms for MTN, wants NSSF to buy shares

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The National Social Security Fund (NSSF) is set to buy shares in the multi-billion South African MTN telecom franchise. Talks to kick-start the shareholding...

Experts : Uganda’s taxation system only making rich people more richer

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The Government is increasingly turning to indirect taxes to increase revenue, but a new report has found that the move could be widening the...

Govt to assess OTT impact & its failures

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MPs on the ICT committee have directed the ministry to furnish Parliament with an assessment report on the impact of social media tax on...

Entebbe to get e-kiosks

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After travelers complained of few immigration staff and long queues in the wee hours of the morning at Entebbe Airport, the government has responded...

Lawyer accuses Bagyenda of lying to COSASE

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A top law firm has appeared to contradict the former executive director of supervision for commercial banks at Bank of Uganda (BoU), Justine Bagyenda’s...

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...

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...

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...

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,...

Government unveils 34 Trillion 2019 budget

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The Government has finalized the formulation of the draft budget (Budget Framework Paper) for the 2019/2020 financial year, with greater priority being given to...

Museveni, US envoys discuss trade deals

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President Yoweri Museveni has held bilateral talks with the American deputy secretary for East Africa, James Makila. During the meeting at State House Entebbe...

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...

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...

Global Trust Bank owners want compensation

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Senior officials from the now defunct Global Trust Bank(GTB) that was closed by the central bank have demanded compensation for the losses...

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...

BOU Saga : National Bank of Commerce sale was negotiated on phone

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Parliament’s committee on commissions, statutory authorities and state enterprises (COSASE) has learnt that the defunct National Bank of Commerce (NBC) was closed...

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,

Japanese companies to come to Uganda

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The number of Japanese setting up companies in Uganda is on the rise, the Japanese ambassador to Uganda has said.

First Glimpse on Uganda Airline, Everything on track

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Azuba says the Government has paid a commitment fee of $100,000 on each of the four planes and another $400,000 for the Airbus A330 series.

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

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.

Govt moves to regulate pastors’ wealth

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However, Lokod clarifies that the proposed policy does not target any church and is not intended to curtail the freedom of worship as enshrined in the Constitution

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.

National housing opens 80 flats

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The Government has urged the National Housing and Construction Company to find solutions for the urban poor and rural Ugandans. The call was made...

Latest Stories

DJ Brown Dee of Urban TV brutally murdered, his “Wire” cut-off...

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Sad news has engulfed the entertainment industries and media world when news reached them that their fellow media personality Dj Brown Dee...