Browsing: Business

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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Parliament Rejects 5-year Income Tax Exemption On Bujagali, Orders Forensic Audit

Members of Parliament have declined to approve tax exemptions for companies, pending a report on its efficacy, allowing a one-year exception to the Bujagali Hydropower Project, which they have also placed under scrutiny for apparent false accounting. Bujagali, which sought to have its exemptions extended to 2027, will now instead face a forensic audit by…

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Parliament Directs Govt To Terminate Vinci Coffee Deal

Parliament’s Committee on Trade has directed government to terminate an agreement it signed recently with Uganda Vinci Coffee Company Limited. Parliament has described the agreement as illegal and demanded that “officials who committed Government to such illegalities should be penalized as a deterrent mechanism to stop similar occurrences in future.” The report of the Committee…

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A Sneak Peek Into Sudhir’s Ruparelia Group of Companies, Here Are Businesses Under the Conglomerate 

Since its inception, the Ruparelia Group of Companies has been committed to the establishment and development of innovative pioneering and enduring businesses among various sectors in Uganda, including:Financial services, hospitality, conventions and leisure centres, education, real estate, media & advertising, Agriculture and recruitment & HR services. In a period of more than 20 years, values…

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