Businessman Charles Mbire has bolstered his stake at MTN Uganda after acquiring an additional 2,263,930 shares in the telecom company at a total cost of Shs 459,907,621.00 on the Uganda Securities Exchange. The purchase which took place on August 22 was evidently the signature activity of the day, on Uganda’s Securities Exchange where MTN is…
Recently, the board of DFCU Bank Limited appointed Dr Winifred Mary Tarinyeba Kiryabwire as the Board Chairperson amidst the bank’s staggering status that has seen it losing millions of customers. Remember that Winifred’s appointment was after the bank releasing its 2021 results showing it had lost UGX313 billion or 12% of its customer deposits. Deposits,…
It is no rumor that Dr. Sudhir Ruparelia is renown for his success in business and in the current global recession phase, UNECA estimates that the pandemic may result in 78% decline in GDP growth, from 3.2% to 1.8%. However, Dr Sudhir Ruparelia, has given his insights in one of the safest businesses to venture in…
The New Times Newspaper, a Rwandan media outlet last week reported that the East African country had secured over 134 hectares to aid the production and growing of medical cannabis, providing a huge step as the country moves to reap big from the lucrative medical plant. Last year on October 12, 2021, the Rwandan cabinet…
While Uganda’s banking sector recorded strong financial results for 2021, the Development Finance Company of Uganda (DFCU) Bank continues to reel from its acquisition of Crane Bank in 2017 and the fallout from the Covid-19 pandemic. The third-largest domestic bank in Uganda in terms of assets recorded a 46% drop in profit to USh9.3bn ($2.6m)…
Officials of West Nile Rural Electrification Company (WENRECO), the company that was contracted by government to supply power in West Nile, have blamed the power outages and intermittent supply in the sub-region on Nyagak’s failure to generate the 3.5 Megawatts due to the seasonal dry spell and Electromaxx severe fuel shortages to generate the thermal…
African farmers have been growing cannabis in Africa for centuries. Nevertheless, consumption of the plant for either medical or recreational purposes is banned almost everywhere on the continent. Recently, however, the growing global demand for medical cannabis has caused several African countries to rethink their cannabis cultivation laws. Indeed, as more and more countries worldwide legalize marijuana…
In February this year, business magnate Sudhir Ruparelia left Bank of Uganda (BoU) nursing wounds after slaughtering it in a 5yr court battle which ended in his favor. Now, due to readers’ demand, we summerize for you the entire saga and what ignited this battle that has seen economic pundits ranking BoU as most fraudulent…
August 15th is etched in the books of history as the glorious day that India attained Independence. As the Asian nation ushered in its 75th Independence Day, I&M Bank Uganda joined the Lohana community of Kampala and Indian Association Uganda in the momentous celebrations to commemorate the day that were held on Saturday, August 13,…
You were one of the Daily Monitor’s first advertisers, with an advert of Red Fox Bureau in the paper. Who approached you to place that advert? Mr Wafula Oguttu approached me to advertise with The Monitor. I had met him while he was still at the Weekly Topic which was leftist and seen as anti-government…
