Browsing: Business

Embattled: Court Quashes Bitature’s Application Seeking Protection Against $10m Vantage Loan

The Commercial Court in Kampala has dismissed an appeal filed by Businessman Patrick Bitature seeking protection from being sued directly by South African firm Vantage Mezzanine Fund II partnership in a bid to recover a $10m loan it extended to the businessman eight years ago. Bitature alongside his companies; Simba properties Co. Ltd, Simba telecom…

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Consumer Protection: UNBS Warns Consumers To Check For Quality, Quantity As Prices Shoot Up

The Uganda National Bureau of Standards-UNBS has cautioned the public against deceptive traders who are taking advantage of the unstable commodity prices to fleece them. UNBS is concerned that many consumers are already falling victims to unscrupulous traders who are taking advantage of rising commodity prices in the country to either overcharge or manipulate the…

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MPs Warn Museveni Against Reversing Their Decision on Coffee Deal

Parliamentarians have warned President Yoweri Museveni against entertaining any thoughts of a U-turn against the resolution of the House that endorsed the termination of the agreement between the Government and Uganda Vinci Coffee Company Limited – UVCCL. The Committee led by Mwine Mpaka Rwamirama, also the Mbarara City South MP met different stakeholders in the coffee…

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Big Fraud! Gov’t Tasked To Recover Over UGX15.7 Bn Wrongly Paid To Roko

Government has been tasked to recover the payment made to ROKO Construction totaling 15.72 billion Shillings irregularly paid in regard to the Nakawa-Naguru land. The payment is deemed irregular because claims by third parties against government were not allowed and ROKO could only claim against its client OPEC. This decision taken by Parliament on Wednesday…

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Top Buganda Land Board Officials In Hot Soup Over Conflict Of Interest, Alleged Fraud As Kigo Land Saga Rages On

Kiham Enterprises Uganda Limited, a company partly owned by city businessman Hamis Kiggundu has insisted that it still legally owns the 140-acre Kigo land that has been under contention between Buganda Land Board and the company. Kiham, through its lawyers led by Fred Muwema of Muwema & Company Advocates, have further called for the prosecution…

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Parliament Enacts Shs48.1 Trillion First Post-lockdown Budget

Parliament has passed the Shs48.1 trillion budget for financial year 2022/23 with post Covid-19 economic recovery high on the agenda. Under the theme “Industrialization for Inclusive growth, Employment and Wealth Creation,” projected revenue base is Shs48.1 trillion to finance the budget. On recurrent expenditure, Ministry of Finance, Planning and Economic Development takes Shs2.3 trillion, Ministry…

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