By Dr Okodan Akwap Government is right to partner with local businessman Sudhir Ruparelia to build an ultra-modern conference facility for holding top-notch meetings, such as the upcoming Non-Aligned Movement summit. But government can do something even better – partnering with Sudhir to reopen Crane Bank, which was closed by the Bank of Uganda (BoU)…
The Central Bank of Uganda (BoU) has finally broke silence on the landmark defeat sustained last week when the Supreme Court of Uganda directed that it reverts the management of Crane Bank back to its shareholders after establishing that the bank was fraudulently closed and later sold out to DFCU Bank in 2018. In the…
The government of Uganda and businessman Sudhir Ruparelia are finalising a joint venture blueprint to build a modern Convention Centre at Commonwealth Speke Resort Munyonyo to host the Non-Aligned Movement (NAM) summit later next year. The architectural designs and bill of quantities for the engineering works are still being prepared, but the construction is estimated…
As the row over the re-allocation of the Nakawa/Naguru land among prospective investors deepens, Lands Minister Judith Nabakooba has thrown a spanner in the works, disowning a letter that was written by her junior minister, Sam Mayanja, purportedly on her behalf, asking President Yoweri Museveni to give a green light to the allocations that were…
A section of Ugandans has woken up to a debate on Twitter questioning whether Entebbe International Airport has been rebranded to Huen Airport. One of the notable Ugandans that have been engrossed in this twitter debate is NTV media personality Andrew Kyamagero who tweeted, “Go to google and type “Huen airport” see the results and…
Oil Prices dropped on Thursday as investors assessed geopolitical risks. The West Texas Intermediate for March delivery lost 1.9 U.S. dollars, or 2 percent, to settle at 91.76 dollars a barrel on the New York Mercantile Exchange. Brent crude for April delivery decreased 1.84 dollars, or 1.9 percent, to close at 92.97 dollars a barrel…
President Yoweri Museveni will launch the Parish Development Model (PDM) on 26 February 2022 in the eastern district of Kibuku. The launch of Shs 490 billion PDM meant to eradicate poverty through execution of development activities at the parishes, was announced by the Minister of Local Government, Raphael Magyezi, during the House sitting on Tuesday,…
Uganda Airlines has registered an increase in the number of passengers as economies across the world fully open up. According to Shakila Rahim Lamar, the Corporate Affairs & Public Relations Manager at Uganda Airlines has revealed that following the reopening of the Ugandan economy in January 2022, the response has been encouraging, noting that passengers…
Tycoon Sudhir Ruparelia who last week again floored Bank of Uganda in Court, has tabled a bill of UGX200billion for all the costs. Last week, Supreme Court ordered BoU to directly pay costs at all Court levels and ordered that the Bank be reverted to Sudhir and the stakeholders, a ruling that effectively settled a…
Dr Louis Kasekende, the former Bank of Uganda (BoU) deputy governor, has no chance of bouncing back to that institution as Governor, following the death of Prof. Emmanuel Tumusiime-Mutebile. Not long ago Kasekende was considered an automatic heir to late Mutebile as Governor. Having read our exclusive article on the potential replacements for Mutebile, some…
