When Ugandan businessman Hamis Kiggundu, started his first business years ago, he could not have imagined that he would ascend to become one of the most successful business moguls in Africa, let alone Uganda. At just 37, Kiggundu, famously known as Ham in his home country, owns a number of buildings in the heart of…
As Africans, land and real estate are often our most popular investment options. And that’s okay. Followed closely by more formal options such as good old stocks, treasury bonds, T-bills, and fixed deposits. Now here’s the thing. These investment options are often big-ticket investments and require a significant cash outlay from investors. This means first-time…
The Minister for Agriculture, Animal Industry and Fisheries, Frank Tumwebaze is discouraging donors from giving his ministry cash. Tumwebaze said cash donations are tempting and also items to be procured could take longer because of the procedures that must be taken such as domestic and international bidding among others. He made the statement on Tuesday…
The Bank of Uganda (BoU) has granted an operating licence to I&M Bank (U) Ltd to begin operating in Uganda after changing its name from Orient Bank. The Nairobi-based financial Group announced that the rebrand comes after the I&M Group’s successful acquisition of a 90 per cent shareholding in Uganda’s Orient Bank Ltd on April,…
The Supreme Court has said it will at a later date rule on who between Bank of Uganda (BoU) and Crane Bank in receivership pays the legal costs to businessman Sudhir Ruparelia in the multibillion commercial dispute. This follows submissions by Mr Ruparelia’s lawyers led by Peter Kabatsi yesterday, asking the justices of the Supreme…
Recently, this website broke a story on how Bank of Uganda (BoU) wrote to the Supreme Court seeking permission to withdraw an appeal they had filed on June 23rd, 2020, against businessman Sudhir Ruparelia contesting Justice David Wangutusi’s 2019 ruling, in which he declared that BoU illegally wound up Crane Bank and sold it to…
In a bid to recruit more Ugandan youths for several job opportunities available in the middle-east and gulf countries, Ugandas leading Labour export company Premier Recruitment Limited has launched a special “Kyabise” Promotion campaign. According to the company, eligible Ugandans who apply and secure employment will win a free sponsored job in Saudi Arabia, where…
State House Health Monitoring Unit has arrested officials belonging to Al- Saud, a labour exporting company who were found selling fake Covid vaccination cards, Interpol certificates, passports and other travel documents. Dr Warren Namara who heads the Unit said in a statement, that on September 17, they received a tip off about a labour firm…
East Africa’s Kenya has announced via its Airports Authority that it will auction 73 aircraft for prices as low as $44.93 due to overstaying at four of its airports which according to them-owners have snored enough. According to an advert released by Kenya Airports Authority (KAA) they have already invited interested bidders for planes that…
Uganda Revenue Authority ‘URA’ has today handed over motorvehicle registration to Ministry of works and Transport (MoWT) following the Government decision to transfer the administration and management of the Motor Vehicle Registration function. The mandate to register and license motor vehicles in Uganda will be a responsibility of the Ministry of Works and Transport today.…
