BoU earns most of its income from investing the bulk of Uganda’s foreign exchange reserves in the said bonds, a practice referred to as investment in fixed income assets. Central banks, experts say, use sale of bonds as a tool to increase bank reserves and lower interest rates. When they buy bonds, money flows from…
The South African government said on Wednesday that those who are to take part in the strike called by the public servants will not be paid for the days they are not at work. “It must be emphasized that public servants who are working in essential services are not allowed to participate in any strike…
Rwanda’s President Paul Kagame has met face to face with DRC Prime Minister Jean-Michel Sama Lukonde at a special EAC High Level Consultative meeting held Monday in Egypt at the sidelines of the meeting of United Nations Framework on Climate Change (COP-27). Monday’s High Level Consultative on the situaiton in DRC was chaired by Burundi…
By Ben Ssebuguzi Kampala: When UNRA, a corporate body of government responsible for roads was appearing before COSASE committee of Parliament, it was revealed that the parent ministry of works is alleging that they diverted funds without informing them. Well, according to Public finance expenditure, it is a requirement, but can’t that be harmonized through…
Budding Uganda songstress Felister Di Superstar on Wednesday completed her Primary Leaving Examinations (P.L.E) at Kampala Parents School, which is under the proprietorship of tycoon Sudhir Ruparelia’s Ruparelia Foundation. Felister, who was among the over 400 pupils that sat for their P.L.E this year, said that she was positive about passing the exams because she…
Police in Mbale City are investigating circumstance under which an Indian national was killed by a road compactor. The deceased identified as Samsadh, who was working as supervisor of works, was crushed by a compactor on Cathederal Avenue while he was directing another truck to offload construction materials on Monday evening. Cathedral Avenue is one…
Dr. Sudhir Ruparelia is a Ugandan property mogul who has built one of the most successful business empires in the country. Dr. Sudhir’s love for Uganda is not by any means opportunistic like many investors who run to Uganda because of attached benefits. Having been born from Uganda, to an Indian emigrant, Sudhir grew up…
Bank of Uganda (BoU) is seeking to hire an independent audit firm that will carry out a comprehensive audit on the current state of affairs of the now-defunct Crane Bank, six years after the same commercial bank was closed. According to an advert published in one of the local newspapers, BoU said it is now…
The government is seeking to recruit 122 senior judicial officers, among them 11 judges and 27 registrars, deputies and assistants, to bolster capacity for fast-tracking justice administration countrywide. According to the Judicial Service Commission (JSC), the agency that recruits, remunerates and disciplines judicial officials, up to 71 grade one magistrate and 13 chief magistrate positions…
The Inspectorate of the Government has warned Local Government minister, Rafael Magyezi against interfering with ongoing corruption allegations against Fort Portal city town clerk, Moses Otimong. “In view of this, we have shared with the permanent secretary that this decision stays as we wait for the report of the investigation. This is to ensure that…
