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…
Billionaire and Chairman Ruparelia Group of Companies, Sudhir Ruparelia has advised Ugandans to put their money in the real estate business because it’s one of the few businesses that can endure storms of Uganda’s economy. In an exclusive interview with this website, the real estate mogul told Ugandans not to take the Real Estate business…
The government has started a process to ensure that Ugandans employed in the Middle East get similar terms of employment as their counterparts from other countries. This is after it was revealed that the earnings and workload for Ugandans especially those working as house maids are determined by clauses in the Memorandum of Understanding between…
By Ojok Smith Gulu: Will government survive fire for favouring foreign investors all the time against local businessmen? Moreover, when this is supposed to be a government by the people and for the people? Currently the government of Uganda is under heavy fire for over-pampering foreign investors and leaving the indigenous ones to wallow in…
Members of Parliament have urged telecommunication service providers to adopt more friendly data and voice bundles. This, according to the MPs, is intended to ensure that consumers of communication services get quality, reliable and affordable communication services to widen Information Communication Technology (ICT) penetration as a key driver of economic growth. While chairing the House…
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…
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…
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…
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…
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…
