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…
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…
The government of Uganda has not yet taken punitive action against Bank of Uganda (BoU) officials for the closure of seven commercial banks three years after the recommendation was made by Parliament. In 2019, Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE recommended that senior BoU officials be individually held responsible for the…
Two Ministers of Finance and Energy failed to show up to a scheduled committee meeting that sought answers on the government’s strategy to curb the escalating fuel prices. The committee on Government Assurance and Implementation led by Vice-chairperson, Hon. Joseph Ssewungu had called the ministers but none of them showed up for the meeting held…
Premier Recruitment Limited a local outsourcing firm has announced more jobs for Ugandan youths that will see them earn over Shs2.4 million per month. According to the poster, bike riders are needed in Dubai. The requirements for applying for the job include; CV, registration fee, passport, driving license, age (24-35 years), medical fitness, and fluency…
Uganda Revenue Authority Commissioner General John Rujoki Musinguzi has outlined his plan that will make it possible for him to achieve the Shs25.1tn target for FY2022/23 set by the Minister of Finance Planning and Economic Development. Speaking to journalists at the Authority’s headquarters in Nakawa Kampala Musinguzi said, “I must note that the revenue mobilisation…
A sign of a billionaire happy in his own skin and comfortable with his humble beginnings. He pushed supermarket trollies in London for a few pounds a week and burned his fingers in search of a buck. Today, Dr Sudhir Ruparelia is one of the most successful businessmen in Uganda and arguably one of the…
Minutes after legally slaying Bank of Uganda, for the ninth time, but this time for good, Dr. Sudhir Ruparelia, hit at certain officials of the central bank for stealing his bank, unnecessarily dragging him to court and prolonging the case for selfish gains. “These people stole my bank. They shared the legal fees in Bank…
Uganda National Roads Authority-UNRA has announced the planned interruptions in the services of the Nakiwogo-Buwaya ferry today, Sunday. According to UNRA, the ferry will transport road construction equipment from Zzinga Island to the mainland via Nakiwogo, Entebbe. The equipment was deployed to carry out maintenance works on Zzinga island. In a press statement, UNRA says…
Uganda Vinci Coffee Company Limited has denied being handed a monopoly over the coffee business in the country. This is part of the company’s defense in a suit filed by Henry Byansi and Michael Aboneka before the High Court Civil Division in Kampala. In April 2022, the lawyers sued Uganda Vinci Coffee Company Limited and…
