Business man Hamis Kiggundu, is awaiting judgment following Diamond Trust Bank’s admissions in court that it committed illegalities in thd ongoing, DTB HAM case. Ham Enterprises (U) Limited (The company) and Diamond Trust Bank (The Bank) had a 10 Year long term Banking relationship where Ham Enterprises (U) Limited as the client made transactions on…
The southern African nation of Malawi passed the legislation to legalize cannabis in February 2020 and in August the same year the Cannabis Regulation Act, 2022 came into force. Malawi’s progress comes at a time many countries on the African continent like Uganda are hesitating to venture into the cannabis trade. And now, in a…
There is a general presumption and saying that capital has no home but within realistic parameters the home of capital is its place of origin because it always goes back with its profits or returns on investments. Capital holds much more value in countries like Uganda where fixed deposits have monthly interest returns of up…
The Land Division of High Court in Kampala has issued a temporary injunction stopping government, Kampala Capital City Authority-KCCA, and any of their agents from carrying out any activity on Old taxi park land. The Old taxi park was closed for renovation in May 2020, and the Deputy Registrar Land Division, Janeva Natukunda has ordered…
Yolesa ekitone is a Multi-Cultural national talent show that started in 2019 and is sponsored by our youthful brand; SKYVIEW. It aims at searching and uplifting talents in all spheres of life i.e. Comedians, Magicians, Dancers, Karate, Bodybuilders. This year’s season was launched on 22nd March, 2021 at Pearl of Africa hotel and it steered…
By Benjamin Emuk Kampala: Movit Products, the leading personal care company in Uganda has today been unveiled as one of the sponsors of Tooro’s inaugural ‘Ekyooto Ha Mpango’ cultural festival scheduled for this month. Organized by Tooro Kingdom, the 4-day festival will be happening from 25th to 28th, November at the heart of the Kingdom’s…
President Yoweri Museveni has ordered the controversial Uganda Retirement Benefits Regulatory Authority (URBRA) to get off workers’ savings in the National Social Security Fund (NSSF). Museveni made the directive during a meeting with stake holders of the NSSF fund at State House Entebbe on Tuesday. The meeting was attended by among others, the Prime Minister…
In January 2017, Crane Bank was acquired by DFCU Bank at a cost of Shs200 billion ($52.8 million) on grounds that it was undercapitalized as declared by the regulator Bank of Uganda. Crane Bank whose proprietor is businessman Sudhir Reparelia remained open under statutory management until most of its assets and liabilities would be transferred…
It is the Supreme Court that will determine the costs to be paid to city businessman Sudhir Ruparelia by Bank of Uganda (BOU) in the long-running legal battle between the tycoon and his Meera Investments Ltd and the central bank, resulting from the closure of Crane Bank Ltd. Both the High Court and the Court…
According to a couple of letters seen by this website, the Ministry of Finance, Planning and Economic Development (MoFPED) finally came to a conclusion of transferring government’s 25% shares held in the Commonwealth Resort, Munyonyo to Uganda Development Corporation (UDC). For our first time readers, the Government, through MoFPED, holds 25 percent of the shares…
