Business - Page 64

URA To Clamp Down On Container Agents Exploiting Small Traders

The Uganda Revenue Authority (URA) has announced a firm stance against exploitative practices by intermediaries commonly known as container leaders, who are accused of manipulating small and medium-sized traders through inflated fees, delayed shipments, and deceptive customs processes. This declaration came during

May 9, 2025

Business·Crime

Busted: Bribes, Witch-hunt in COSASE Probe: Why At least 5 MPs Aborted Signing On Kasozi’s Report on Asian Properties

Five legislators who are among twelve subcommittee members on the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) didn’t append their signatures to ratify their participation in the investigations of operations of Departed Asian Property Custodian Board (DAPCB). The investigation which

May 20, 2021

Business·News

Govt Approves Shs 1.4 Trillion For Kampala-Malaba Metre Gauge Railway Project

Parliament has approved a government request to borrow Euros 216.7 million from the African Development Fund (ADF), Euros84.41 million from the African Development Bank (ADB) and Euros25.9 million from the Corporate Internalisation Fund of Spain. The loan monies totaling to approximately shs1.4

May 17, 2021

Business

‘Clear Your Loan Or Face Jail’- High Court Trashes Rajni Tailor’s Case Against Prime Finance Company

The Commercial Division of the High Court has dismissed an application filed by Rajni Tailor against Prime Finance Company Limited. According to Mr. Tailor, on 6th August 2016, he entered into a loan agreement with Prime Finance for a personal loan facility

May 13, 2021

Business

Exclusive: Tycoon Patrick Bitature Sweats Plasma, Seating Pants Over USD10m Debt Acquired From South African Money Lenders

Patrick Baguma Bitature, one of Uganda’s key local investors, needs our fervent prayers. A ten million United States dollar ($10m) debt he took from the mezzanine capital providers based in South Africa is threatening to wipe out his entire business empire. The

May 11, 2021

Business·News·Politics

MPs Approve Shs44 Trillion Budget For 2021/2022 Amidst Covid-19 Economic Crisis

Members of Parliament have approved a shs44.7 trillion budget for the 2021/2022 financial year, which has seen a decrease of shs714 billion for the first time compared to the approved resource envelope of 2020/2021. According to the report of the Budget Committee,

May 10, 2021

Business

Unjust Law Can’t Be Law: Diamond Trust Bank Stuck With An Illegality, Court Rules

Courts Don’t Hold The Discretion To Stand With An Illegality There was a mood of high expectation yesterday when we assembled at the Court of Appeal (COA) to receive its judgment in the Appeal filed jointly by Diamond Trust Bank Uganda and

May 7, 2021

Business

Dr. Sudhir Floors Custodian Board as COSASE Sub-committee Confirms He Is The Rightful Owner Of Plot 24 Kampala Rd

Estate Mogul, Dr Sudhir Ruparelia has been declared the rightful owner of Plot 24, on Kampala road. The sub-committee of the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) have exonerated property mogul Sudhir Ruparelia after its probe found that

May 7, 2021

Business·News

Ham: Relief For DTB As Court Orders For Retrial Of Controversial UGX 120Bn Case

Diamond Trust Bank Uganda and DTB Kenya have asked the Court of Appeal to set aside the decision of the Commercial Court directing them to refund more than 120 billion shillings to businessman Hamis Kiggundu or send back the case file to

May 6, 2021

Business

Court Of Appeal Set To Deliver Final Ruling On Ham Vs DTB Case

Court of appeal has announced that a judgment between Diamond Trust Bank (appellant) vs Ham Enterprises Ltd & others (respondents) will be delivered on the 5th day of May 2021. This comes after Diamond Trust Bank (DTB), filed an appeal against the

May 4, 2021

Business·News·Politics

MPs Pass Tax On Export Of Leaf Tobacco

Ugandan traders dealing in exportation of unprocessed tobacco leaf will now be required to pay a tax of about shs3,000 per kilogramme order to boost the currently undervalued business. This tax comes with the passing of the Tobacco Control (Amendment) Bill, 2021

May 4, 2021

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