There is a dispute between foreign and local silver fish dealers at Kiyindi landing site in Buikwe district over quality concerns. The dispute stems from a decision by the foreign traders mainly from Rwanda and the Democratic Republic of Congo-DRC to buy silver fish directly from fishermen citing the poor post-harvest handling methods employed by…
President Yoweri Museveni has directed Frank Tumwebaze, the Minister for Agriculture to allocate Turkish firm Beyler Group, 15 acres of land in Entebbe for the construction of a hospital. In his June 20th letter to Tumwebaze, Museveni says the Turkish Investment Group has committed to building a modern private hospital in Uganda. “They intended to…
Since being appointed the Bank of Uganda (BoU) Deputy Governor and has been acting as Governor, Michael Atingi-Ego has now raised the indicative Central Bank Rate (CBR), twice to the current 8.5 per cent, encouraging commercial banks to also raise interest rates for borrowers. Ugandan borrowers are not happy that BoU continues to raise the…
The National Environment Management Authority (NEMA) has finally agreed with Speke Hotel (1996) Limited on measures for safeguarding the ecological integrity of Lake Victoria while implementing the Speke Resort project at Kitubulu, Katabi sub-county, Wakiso District. The approval followed the conclusion to NEMA’s satisfaction of the project design review and adjustments by the developer under…
President Museveni’s failure to appoint a new Governor for the Bank of Uganda has left the institution exposed. Deputy Governor Michael Atingi-Ego has reportedly failed to stamp his authority on the institution which has been running under the leadership of the late Prof. Emmanuel Tumusiime Mutebile, an economist with a no-holds-barrel approach to handling the…
The growing of marijuana for medicinal use has attained legal status in many countries across the world including Africa where global pharmaceutical companies regard as the new frontier for growing the herb. In Uganda, local and international companies have expressed interest in growing the herb on a commercial scale to meet the demand in Europe,…
Meera Investment Limited, a real estate arm under Ruparelia group recently presented Uganda’s largest fabulous homes grand project, the ‘One-10 Apartments’ for sale. The luxury, high-end apartments are located in Kololo on Prince Charles Drive, one of Kampala’s most affluent and exclusive suburbs; a location home to many of Uganda’s diplomates and elite class, owing to its serene and secure environment. The breathtaking panoramic…
Earlier this year, Dfcu Bank announced that its shareholders will have to wait longer before they think of getting dividends for the year 2021 as the bank struggles to preserve capital. According to the bank’s latest audited financial results published recently, the bank’s overall profitability for 2021, was considerably affected by the loan impairments, which…
American Actor Terrence Howard has held a closed-door meeting with city businessman Sudhir, Ruparelia, Frank Tumwebaze, the Minister For Agriculture, Animal Industries and Fisheries at Speke resort Munyonyo. Although we are yet to reveal the details of the meeting, our sources confirmed that the two business giants are likely to ink a business partnership that…
The head of the High Court Commercial Division Justice Stephen Mubiru literally threw under the bus a bank client one Aida Atiku when he absolved Centenary Bank of any liability of fraud occasioned to Ms. Atiku’s account. On July 18th 2022 making a ruling in a case in which Aida Atiku had sued Centenary Bank…
