Equity Bank chief executive officer James Mwangi has secured a court order blocking his possible investigation or arrest over a disputed multi-billion shilling property in the high-end Muthaiga estate in Nairobi. Mwangi, who has served Equity Bank for 32 years, faces arrest over allegations that he fraudulently grabbed a multibillion property in Muthaiga, a plush…
On Thursday, the National Environment Management Authority (NEMA) finally agreed with the Ruparelia Group under businessman Sudhir Ruparelia on measures for safeguarding the ecological integrity of Lake Victoria while implementing the Speke Resort project worth over Shs370bn in Kitubulu, Katabi sub-county, Entebbe, Wakiso district. Last year on December 10th, NEMA issued a stop notice to…
Across East Africa, and Africa as a whole, Asian entrepreneurs stand out for their success and longevity. According to one Aly-Khan Satchu, a Kenyan-Asian financial analyst and CEO of investment advisory firm Rich Management, Asian-owned companies have been embedded in the African ecosystem for more than a century. “For example, my family came to East…
Farmers in the Ankole region are counting losses following the long dry spell that has taken a toll on their crop gardens. A number of farmers say that they have lost it all this season because of the inconsistent and intermittent rains that have affected their crops. Akampurira Silvano a maize and beans farmer in…
On August 4, 1972, then former President of Uganda, the late Gen. Idi Amin, announced the expulsion of Asians from Uganda. Thousands of Indians who had heavily invested in Uganda and regarded it as their home, were forced to flee their country as their businesses were dished to Amin’s cronies, soldiers and Government officials. August…
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…
