Block 8
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…
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…
Museveni Retires 48 Army Generals
President Yoweri Museveni, the Commander In Chief of the armed forces has retired 48 generals of the Uganda People’s Defense Forces at a ceremony held at State House Entebbe, Wednesday. General Elly Tumwine, who died last week and was buried on Tuesday was supposed to be the 49th of the retiring generals. Speaking at the…
On Top: Singer Angella Katatumba Partners With Masters Music To Release ‘Masterpiece’ Album
One of Uganda’s top vocalists, musician Angella Katatumba has partnered with Masters Music studios to release her new incoming music album titled “Masterpiece” as she seeks to yet again take the Ugandan airwaves by storm. Masterpiece album is a fifteen (15) track album that is primarily centred on the life of Katatumba and features top…
Family Sues JARO Hospital For Holding Son Over Medical Bills
Jaro Hospital is in trouble for allegedly detaining Robert Ssentongo, a 15-year-old boy due to failure of his family to clear a medical bill of Shillings 4.8 million. The teenager’s family has dragged Jaro Hospital, Kyaliwajjala to the High Court Civil Division. Sentogo’s father, Raymond Mugerwa, a resident of Kikabya village, Bunyiri parish, Kyampisi sub…
Over 1,000 Displaced By Floods In Bukedea District
More than 1,000 people have been displaced by floods in Kamutur sub county, Bukedea district. The floods have also washed away 344 pit latrines and more than 12,000 gardens after River Atari burst its banks on Monday. Joyce Chemeri, a resident in Amutur village says she had to seek shelter with her family in the…
Uganda, Tanzania Renew Commitment To Secure EACOP
Senior officials from Uganda’s petroleum authority (PAU) and Tanzania’s energy and water utilities regulatory authority (EWURA)—the agencies that have regulatory powers over the oil industry in the two countries—have renewed their commitment to secure the East African Crude Oil Pipeline (EACOP). The officials have agreed to jointly cooperate in the regulation and monitoring of the…
Demand For Credit Slows With Raising Interest Rates
The banking industry has defended its changing mode of operation which sections of the public describe as less friendly, saying they have learnt from the effects of global shocks on the businesses and economies generally. In recent times, Bank of Uganda has compelled commercial banks to increase their lending rates even as the demand for…
UGX 7 Trillion Locked Up In Commercial Court Disputes: Chief Justice
The Chief Justice Alfonse Owiny-Dollo has said that about seven trillion shillings is locked up in undissolved disputes before the Commercial Division of the High Court. Owiny-Dollo revealed this while delivering the Annual Performance Report of the Judiciary at the High Court in Kampala on Wednesday. He said the monies are tied up due to…
Corporate Social Responsibility: TotalEnergies EP Uganda Equips Project Affected Persons in Buliisa
TotalEnergies EP Uganda has this week reiterated its commitment to supporting sustainable and inclusive economic growth through income generating activities by the Tilenga project community. The company has provided start-up kits to Project Affected Persons (PAPs) under Resettlement Action Plan 1 (RAP 1) to setup income generating activities in a bid to elevate their ability…