The Supreme Court decision directing that Crane Bank Ltd be reverted to its owners has raised a lot of mixed feelings, for it comes with a legal and cost implication which in one way or another will affect the ordinary Ugandan. The costs associated with the case will naturally be forked from the consolidated fund…
The last two years have disrupted many things including the wealth of the rich class. The 2022 wealthy list favours those who invested in technology, real estate, health, food, logistics etc. Uganda’s new list of the wealthiest, according to sources, has also changed tremendously with big names such as Patrick Bitature, Charles Mbire, among others,…
When Dfcu controversially bought Crane Bank Limited (CBL) in January 2017, it immediately became one of the most profitable banks in Uganda as the former owners of CBL cried for the loss of their bank. Dfcu’s Crane bank acquisition boosted its profitability in 2017 with net profit nearly tripling to Shs127 billion, up from Shs46.…
How did Dr. Louis Kasekende, a man who was well on track to become a Governor end up spending the last 3 years of his 33-year career making headlines for all the wrong reasons? Law No. 1 of 48 laws of power: Never outshine the master! Make your masters appear more brilliant than they are and…
Bank of Uganda has decided to raise the Central Bank Rate by a percentage point to 8.5 percent as part of emergency measures against the spiraling inflation. This was decided at Tuesday’s emergency Monetary Policy Committee meeting called by the Central Bank Deputy Governor, Michael Atingi-Ego to respond to a situation that has seen prices of…
Visionary tycoon Rajiv Ruparelia who many describe as Uganda’s economy explorer for his lucrative investments in various sectors has bemoaned the fact that only a few Ugandans have tested on profits from animal (pets) business opportunity. A pet, or companion animal, is an animal kept primarily for a person’s company or entertainment rather than as…
Every case is as good as its legal strategy and every legal strategy is as good as the team on it. To defend himself against a UGX397 billion (USD106 million) suit from Bank of Uganda, arguably one of Uganda’s most feared, ruthless and cash-rich regulators, Dr. Sudhir Ruparelia, Uganda’s richest businessman had to go for…
New global shocks and the impacts of the Russia-Ukraine war has dampened Uganda’s economic growth prospects amidst the waning coronavirus pandemic and full re-opening of the economy and a clearer outlook for oil production following signing of the Final Investment Decision in February this year. Uganda’s economy is now estimated to grow at 3.7 percent…
The Uganda Bureau of Statistics-UBOS and the World Bank have disagreed on the methodology used in determining the country’s economic status. They will however release a joint statement in the next 24 hours on Uganda’s status. In his State of the Nation Address on June 7, President Yoweri Museveni said that Uganda would achieve the…
Parliament’s committee on Sub-Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) have been dealt a blow after court ruled that its subcommittee did its work illegally as it tried to act as court in investigating properties under the Departed Asians Property Custodian Board (DAPCB). Mohamed Allibhai, the applicant had dragged the Attorney General to…
