Property Magnet Dr Sudhir Ruparelia has broken silence on the disputed Simbamanyo House ownership days after the former owner Peter Kamya ran to President Museveni seeking intervention into the sale of their property. Embattled Kamya ran to Museveni contesting Equity Bank’s sale of his property to Tycoon Sudhir in October 2020 for UGX18.5b. However, Equity…
The President of Uganda Yoweri Kaguta Museveni has ordered Bank of Uganda Governor Emmanuel Mutebile to expenditiously investigate the sale of Simbamanyo House and Afrique Suites by Equity Bank and report to him within one week. The president came in after Mr Peter Kamya and Margaret Muganwa appealed for his intervention. According to the president,…
The Uganda People’s Defence Forces (UPDF) has taken over the mandatory Covid-19 testing exercise at Entebbe International Airport. In a letter to the Chairperson, National Planning Authority, the Prime Minister Robinah Nabbanja said UPDF with support from the Ministry of Health will take over Covid-19 testing for all international inbound passengers from private practitioners starting…
From global trends, marijuana has provided a new economic frontier in countries that have seen the light and legalized the farming of the herbal weed. Marijuana or cannabis is a medicinal herb, one that industrial labs have confirmed to be the new breakthrough for medicinal innovation, research and disease treatment. And for developing countries like…
The Swedish Ambassador to Uganda Maria Håkansson has said that the continued closure of the Democratic Governance Facility-DGF is greatly affecting communities that were beneficiaries of its activities. DGF, the single biggest donor basket established by development partners was suspended early this year after President Yoweri Museveni accused the Ministry of Finance of irregularly authorizing…
In an unexpected turn of events, Bank of Uganda (BoU) on 15th September announced it was withdrawing Civil Appeal No. 7of 2020 which they (via Crane Bank Limited (in receivership) has logged in the Supreme Court against businessman Dr Sudhir Ruparelia and Meera Investments Limited. In the same spirit, Bank of Uganda stated that it will…
Award winning human rights lawyer Isaac Ssemakadde of -Center for -Legal Brains Trust has congratulated City tycoon, philanthropist Dr. Sudhir Ruparelia upon a landslide win. After years of endless battle in various courts of law in Uganda, the Bank of Uganda this week gave up against Sudhir and Meera Investments whom they had sued for allegedly…
Bugweri County Member of Parliament Abdu Katuntu has welcomed the ruling by Constitutional Court stripping of legal immunity from Bank of Uganda saying it was long overdue. Mr. Katuntu is a seasoned legislator who chaired the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) of parliament that investigated Bank of Uganda on the issue…
The Bank of Uganda (BoU) has decided to withdraw a Supreme Court appeal that was contesting the Court of Appeal’s dismissal of the case it filed on behalf of Crane Bank Ltd (in Receivership) vs. Sudhir Ruparelia and Meera Investments Ltd. In a September 15 notice of withdrawal, the Supreme Court Registrar indicates that BoU…
In a landmark ruling by the Constitutional Court, Bank of Uganda and it’s employees have lost immunity against legal proceedings and it can now be sued. Previously, BoU was protected by Sections 118 and 124 of the Financial Institutions Act which stated that; “No suit or other legal proceedings shall lie against the Central Bank…
