The sticking issue of the secrecy around the oil Production Sharing Agreement has kept Ugandans unable to get the answer to the question of how much the country will get from the oil and gas sector. The failure by the government to disclose the details, especially of how the oil revenues will be shared, has…
Businessmen and experts have expressed optimism that the continued drop in fuel prices in Uganda will help to lower the cost of doing business. In the past two months, there has been a drop in the fuel pump prices from an average of 6,800 Shillings a litre of petrol to about Shs5,800, and diesel from…
The Asia Africa Development Council (ADCO) which coordinate the Council for Sustainable Peace and Development for promotion of peace and development in Asia and Africa is proud to unveil the TOP 54 Certified Responsible Investments in Uganda- Prof Ripu Ranjan Sinha the Director General of Council for Sustainable Peace and Development Stated. The Asia Africa…
Twelve loans valued at Shs 1.3 trillion expired before disbursement to respective ministries and government entities for use, according to the Auditor General. According to the Auditor General’s report for the year ended June 2020, the failure to utilise the borrowed money was due to low levels of loan absorption, which is affecting government projects…
After getting a good grip of the Agri-tech business in Uganda, LOLC Finance Uganda has embarked on an ambitious expansion plan stretching across borders. Early this week, the company established a subsidiary; LOLC Finance Rwanda with new offices in Musanze district located 69Km from the Rwandan Capital Kigali. “We chose this district because it is…
Local investors in the country have continued to express their disappointments over the selective licencing of cannabis business that has been only allowed to be operated by foreign companies. In an investigative study and survey carried out by this website, it is reported and confirmed an Israeli company Together Pharma has already exported over 50 kilograms of…
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.…
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…
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…
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…
