Block 7
Reshuffle: Maj.Magambo Replaces Grace Akullo As CID Boss
Commander in Chief of armed forces, President Yoweri Kaguta Museveni has appointed Maj Tom Magambo who has been in the Internal Security Organisations (ISO) as the new police Criminal Investigations Director. “President Museveni has promoted Private Tom Magambo to the rank of Major and appointed him Director Criminal Investigations of the Uganda Police Force,” the…
One Scandal Too Many: Former CID Director AIGP Akullo Quits Uganda Police
A contract erroneously fixed in the file of Assistant Inspector General of Police-AIGP Grace Akullo, the former Director of the Criminal Investigations Directorate has led to her ejection from the Uganda Police Force-UPF. Akullo who has been serving as the Director National Central Bureau commonly known as Interpol Uganda handed over office to her deputy,…
Big Story: Bank Of Uganda Withdraws Appeal Against Sudhir In Crane Bank Saga, Accepts To Pay Costs!
The Bank of Uganda (BoU) has decided to withdraw a Supreme Court appeal that was contesting the Court of Appeal’s dismissal of the case it filed on behalf of Crane Bank Ltd (in Receivership) vs. Sudhir Ruparelia and Meera Investments Ltd. In a September 15 notice of withdrawal, the Supreme Court Registrar indicates that BoU…
Dubious Sale Of Crane Bank Is The Terrible ‘Financial Game’ Central Bank Will Regret For Lifetime
Bank of Uganda (BoU) had a torrid 2017 as the Crane Bank saga weighed on the country’s central bank. What began as an everyday activity to supervise and regulate the banking sector when they took over and subsequently sold Crane Bank to DFCU turned out to be a big speck in the late Emmanuel Tumusime-Mutebile led…
Business Talk: American Actor Terrence Howard Meet City Tycoon Sudhir Ruparelia
American Actor Terrence Howard has held a closed-door meeting with city businessman Sudhir, Ruparelia, Frank Tumwebaze, the Minister For Agriculture, Animal Industries and Fisheries at Speke resort Munyonyo. Although we are yet to reveal the details of the meeting, our sources confirmed that the two business giants are likely to ink a business partnership that…
End Of Era! Dfcu Sinks As Major Shareholders Quit Troubled Bank
Commonwealth Development Corporation (CDC) Group, the United Kingdom’s development finance institution recently announced its decision to sell its remaining 9.97% stake in the troubled dfcu bank. The shareholding was sold to IFU, the Danish development finance institution. CDC made its first investment in DFCU in 1964 as a founding partner to the bank and has…
Delhi Public School International Excels In This Year’s CBSE Board Examinations
Ruparelia Group’s Delhi Public School International has performed excellently according to results released by the Central Board of Secondary Education (CBSE). According this year’s results, Delh toi public School International excelled with a 100% percentage pass with a 78% school average score and all the 46 candidates excelled with high scores between 60%-90% and above.…
Is Ugandan Gov’t Being Unfair To Local Companies Intending To Grow Medical Cannabis?
The growing of marijuana for medicinal use has attained legal status in many countries across the world including Africa where global pharmaceutical companies regard as the new frontier for growing the herb. In Uganda, local and international companies have expressed interest in growing the herb on a commercial scale to meet the demand in Europe,…
Don’t Give Us Excuses Over Your Incompetence, Cough Our Money – Shareholders Task Dfcu Bosses
Earlier this year, Dfcu Bank announced that its shareholders will have to wait longer before they think of getting dividends for the year 2021 as the bank struggles to preserve capital. According to the bank’s latest audited financial results published recently, the bank’s overall profitability for 2021, was considerably affected by the loan impairments, which…
Soroti City East By-Elections: FDC President Amuriat, 42 Others Arrested Over Voter Bribery
The East Kyoga Regional Police has confirmed the arrest of 43 opposition Forum for Democratic Change (FDC) members for allegedly bribing voters. According to East Kyoga Police Spokesperson, ASP Ageca Oscar, those arrested include FDC Party President Patrick Oboi Amuriat, former Kasese Municipality Member of Parliament, Robert Centenary. and others who were allegedly bribing people…