Block 15
MPs Demand For Action Against Ex BoU Officials Implicated In The Fraudulent Sale Of Seven Defunct Banks
MPs have continued to demand for the action against Bank of Uganda (BoU) officials who were implicated in the sale and acquisition of seven defunct banks. In 2018, MPs on parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) made the recommendation in their report following a recent probe of BoU on the closure…
Inside Story: How Controversial Sale Of Crane Bank To Struggling Dfcu Will Go Down In Uganda’s History As The Most Fraudulent Transaction By BoU
In July businessman Sudhir Ruparelia won yet another victory in the Supreme Court against Bank of Uganda over the fate of Crane Bank. The central bank closed Crane Bank in October 2016 claiming it was undercapitalised. The latest ruling is a culmination of a running battle between the central bank and Sudhir for four years.…
Staggering BoU Exposed For Raising CBR, Banks Told To Cut Interest Rates
The State Minister for industry, David Bahati is not happy that commercial banks in the country continue to raise their prime lending rates blaming it on the ‘rising’ inflation, which he said, is just one of unjustifiable excuses they are using to deny Ugandans credit. “Commercial banks are having a lot of excuses. The excuses…
Speke Resort Munyonyo Unveils Special Offers For Couples
The Ruparelia Group of hotels, under which Speke Resort Munyonyo, Speke Apartments and other hotels are owned, has announced special offers for couples in a bid to spread love all over the country. We have learnt that Speke Resort Munyonyo and Speke Apartments are offering discounted rates for couples that want to get engaged, hold…
Weekly Bonanza Back In Super Action: Speke Apartments Kitante Says Pay For Six & Get One Free!
Speke Apartments Kitante says pay for 6 nights at 330000 (inclusive of taxes) and get one for free. ”Escape from your bustling routine and experience the rejuvenating stay at Speke Apartments Kitante. +256 707 977 773 www.spekeapartments.com/kitante reservations.kitante@spekeapartments.com,” says Speke management. Speke Apartments’ accommodation define the new face of luxury and decadence in the apartments…
Uganda’s Economy Would Be Far If Gov’t Permitted Sudhir To Go Ahead With Cannabis Business, Experts Say
Uganda’s richest man, Dr. Sudhir Ruparelia once wrote to President Yoweri Museveni over delayed approval of marijuana growing for medical purposes by government. In his letter, the businessman expressed to the president how cannabis (marijuana) can play a great role in the transformation of Uganda’s economy. Sudhir noted that with clear regulation and careful scrutiny,…
MPs Throw Out Finance Officials Over Budget Cuts
Lawmakers on the Committee on Finance yesterday threw out officials from the Ministry of Finance after they failed to avail detailed requisite documents on the latest update on budget cuts and the government’s latest plan on tax waivers alongside other supporting details. The team from the Ministry of Finance led by the State Minister for…
‘Am Sorry For Tarnishing Your Good Name’-MP Kagabo Apologize To Speaker Among, MPs Over UGX 40m
Bukoto South Member of Parliament, Twaha Kagabo has in a twist of events apologized to fellow legislators for “causing an impasse” in regard to the 40 million Shillings that he recently attempted to return to return to parliament. National Unity Party President Robert Kyagulanyi had said MPs had received 40million shillings each irregularly and ordered those belonging…
You’ve Touched Lives Of Thousands Of Ugandans By Investing In Education – Victoria University VC Hails Tycoon Sudhir
Mighty Victoria University (VU) on 3rd September 2022 held its 6th Graduation Ceremony at world-class Speke Resort Munyonyo an event that attracted magnitudes of people from various parts of the globe. In his speech, Professor Lawrence Muganga, Victoria University’s Vice Chancellor applauded mogul Sudhir Ruparelia the chairman of Ruparelia Group for taking a right decision…
Victoria University Calls For Government Funding, Introduces New Study Programs
Victoria University Chancellor, Prof. John Opuda-Asibo has implored the central government to heed to financial aid requests made by the institution. Prof. Opuda-Asibo made this crucial plea yesterday, while addressing a congregation of graduands, their parents, invited dignitaries and other stakeholders, during the university’s 6th graduation ceremony held at Commonwealth Speke Resort, Munyonyo. He revealed…