June 2024 - Page 3 of 8 - Thecapitaltimes

BOU Winds Up Mercantile Credit Bank Due To Insolvency

The Bank of Uganda has taken action to place Mercantile Credit Bank Limited under liquidation, revoked its license, and ordered the winding up of its affairs due to issues such as insolvency, under-capitalization and poor corporate governance. In a statement released by

June 19, 2024

Security

M7 Extends Brig.Mugabe’s Contract As Chairman General Court Martial

President Yoweri Kaguta Museveni, has officially renewed the contract of Brigadier Freeman Robert Mugabe as Chairperson of the General Court Martial. Brigadier Mugabe’s contract, which expired on June 9th, was renewed last Thursday, according to a letter dated June 6th, 2024. The

June 19, 2024

Community

H.E Kate Airey Hails Aganza Kisaka The CEO Of Yenze Theatre Conservatoire For Nurturing Artists

Her Excellency Kate Airey, the British High Commissioner to Uganda, has said the Ugandan theatre industry should be supported and developed to be an integral part of the social economic development programs of the nation. The British High Commissioner made these remarks

June 19, 2024

News

CDF Kainerugaba,Italian Ambassador Massoni Discuss Bilateral Relations

The Chief of Defence Forces (CDF), Gen Muhoozi Kainerugaba, has welcomed the new Italian Ambassador to Uganda, His Excellency Mauro Massoni, and the two affirmed their commitment to strengthening bilateral relations between the two countries. In a statement by the UPDF Deputy

June 18, 2024

Big Story

It Was Justified: UIA Boss Mukiza Responds To Minister Anite On The Honoraria Payment

Mukiza insists this was a justified pay only to be interpreted by Minister Anite in her own way. In a statement to UIA Board dated June 14, 2024, Mukiza explained that upon termination of the owner’s engineer (OE) on August 29, 2022,

June 18, 2024

News·Security

M7 Appoints Brig Nyakikuru As New Deputy SFC Commander

The commander in chief of armed forces General Yoweri Kaguta Museveni has appointed Brig. Asaph Nyakikuru Mweteise, deputy commander of the Special Forces Command. Nyakikuru, who was two months ago promoted from the rank of Colonel to Brigadier, will take over from

June 18, 2024

News

3 Jailed MPs Committed To High Court For Trial

The Anti Corruption Chief Magistrate Joan Aciro has committed the three Members of Parliament (MPs) accused of corruption in a multi-billion budget scandal to the High Court for trial after the Director of Public Prosecutions (DPP) said police had concluded their investigations

June 18, 2024

Crime·Security

Police Recover UPDF Gun from Karamojong Warrior in Moroto

Moroto, Uganda — Police in Moroto district have successfully recovered a gun belonging to the Uganda People’s Defence Forces (UPDF) from a Karamojong warrior in Nadunget Town Council. The recovery took place on Friday around 9:00 PM, following a tip-off from the

June 17, 2024

Business

How High Taxes and Big Debt Threaten EA Growth

East Africa’s finance ministers on Thursday tabled a raft of measures for expanded expenditure plans for the 2024/2025 fiscal year with a keen eye on debt repayment and reliance on domestic revenues to run government operations. These measures effectively set the stage

June 17, 2024

Security

Big Story! SADC Forces Engage M23 Rebels in Eastern DRC as Violence Intensifies

The Southern African Development Community (SADC) troops in eastern Democratic Republic of Congo have, unlike their East African predecessors, been involved in armed combat against the M23 rebels, making peaceful negotiations a distant reality. The East African Community Countries (EACRF), whose mandate

June 17, 2024