Block 8
Roko, MPs Disagree On Alternative Financing Possibilities
The Finance Committee of parliament and Roko Construction Limited have disagreed on the alternative financing possibilities for the company. The committee is considering a proposal from the government to purchase 150,000 shares worth Shillings 202.13 billion in Roko Construction Limited payable over five years. The transaction, according to the Ministry of Finance, is intended to…
RCCs To Continue With Registration of Boda Bodas Amid Lawsuit
Kampala Resident City Commissioners have vowed to continue with the ongoing boda-boda registration despite a petition by the Lord Mayor Erias Lukwago challenging the directive by the Minister for KCCA, prohibiting all unregistered boda bodas from operating in the Kampala Metropolitan Area. Anderson Burora, the Resident City Commissioner for Rubaga Division says that the campaign…
Tough Times For Ugandans As Central Bank Moves To Restrict Money In Circulation
On July 6, Bank of Uganda held an emergency monetary policy committee meeting and decided to increase the central bank rate (CBR) by one percentage point to 8.5%, the highest since the country got hit by COVID-19. The Bank had in June this year raised the rate by a percentage point. Previously, the Bank had…
PROFILE: Who Is Jennifer Bamuturaki, The Newly Appointed CEO of Uganda Airlines?
On Wednesday, Jennifer Bamuturaki was appointed as the new Chief Executive Officer for Uganda Airlines. A letter dated 5th July 2022 to the chairperson of the Uganda Airlines board, the Works and Transport Minister, Gen. Edward Katumba Wamala, confirmed that Bamuturaki had been appointed as the airline’s substantive CEO. According to Gen Wamala, Ms Bamuturaki’s…
Court Orders Prisons Service To Physically Present MP Ssegirinya For Trial
The Buganda Road Chief Magistrates Court has ordered the Uganda Prisons Services to produce Kawempe North Member of Parliament Muhammad Ssegirinya in court for his trial. The order was issued by Chief Magistrate Gladys Kamasanyu after a poor internet connection from Kigo prison disrupted the hearing of a case in which Ssegirinya is charged with…
Joint Security Probe 33 Roadblocks Erected By Men In Military Uniform
Joint security agencies are probing 33 roadblocks mounted by men donned in army attires on various roads across the country in the last two months orchestrating robberies. A number of people have reported incidents of robbery involving gunmen in army uniforms during night hours. Senior security sources have revealed that currently, 33 robbery roadblocks have…
Sudhir Ruparelia: A Successful Businessman Is One Who Builds A Firm Foundation With The Bricks Others Throw At Him
Ugandan businessman and billionaire Dr. Sudhir Ruparelia shares an inspirational and motivational quote to youth and entrepreneurs on doing business the right way and working smart as a strategy to creating sustainable business ventures in Uganda and creating wealth. Uganda is a country with numerous opportunities and resources if fully utilized creating wealth is simple…
NUP Unveils New Party Headquarters In Kampala
The opposition National Unity Platform (NUP) party has unveiled plans for the construction of their new headquarters that will be situated in Makerere Kavule, Kawempe division in Kampala. This was during the groundbreaking function held on Tuesday, July 12, 2022, in Kampala. Speaking at the event on Tuesday, NUP President Robert Kyagulanyi alias Bobi Wine…
Is Sudhir’s Victory Against BoU In Crane Bank Case a Game Changer?
The controversy between Crane Bank and Bank of Uganda came to an end after businessman Sudhir Ruparelia obtaining a final Supreme court order allowing him to revert Crane bank back to its shareholders. In January 2017, Crane bank was acquired by dfcu bank at Shs 200 billion after the central bank ruled that it was…
Good Samaritan: OPUL Equips Kalangala Health Centers With Shs250M Medical Items
Oil Palm Uganda Limited (OPUL) has responded to a clarion dire need from islanders by donating medical items worth over UgX250m. This is part of OPUL’s Corporate Social Responsibility. Damanik Saridin,the General Manager for OPUL based in Kalangala District led a team of his management staff to donate medical supplies and theater equipments to Kalangala…