After the firing of James Onen aka Fatboy, tycoon Sudhir Ruparelia has fired yet another ‘Big Fish’ at Sanyu FM, identified as Betsy Mugamba, who was one of the top managers, for having been one of the ringleaders of the general staff strike that happened in June. The management of Sanyu FM decided to terminate…
President Yoweri Kaguta Museveni has commissioned Atiak Sugar Factory in Amuru District. The factory is owned by entrepreneur Amina Moghe Hersi, while government holds 41 percent shares through the Uganda Development Corporation. Gen Museveni said that for a country to industrialise, it needs the following; labour, natural resources, capital, knowledge and entrepreneurship. The last group…
Panic has engulfed the custodian board after it has emerged that Shs 15 billion was mysteriously withdrawn from the Departed Asians Property Custodian board accounts by the unknown persons. The development came after Members of Parliament on the committee Commissions, Statutory Authorities and State Enterprises (COSASE) discovered the missing monies and quizzed Ministry of Finance…
Simbamanyo Estates Limited has lost another property, Afrique Suites Hotel over a $10.8 million loan acquired from Equity Bank. Recently, the Estate lost Simbamanyo House located on plot 2 Lumumba Avenue after it failed to service the loan. The building had been mortgaged by its owners with Equity Bank but after failing to pay, the…
Equity Bank Uganda denied having ever facilitated or engaged in facilitating any illegal cover to have Equity Bank Limited and Bankone Limited engage in financial institutions business in Uganda. Peter Kamya, an architect, has asked Justice Boniface Wamala to disqualify himself from hearing Simbamanyo House cases, citing bias. “The judge has not conducted himself in…
By Musaazi Namiti Kampala: The governor of the Bank of Uganda (BoU), Emmanuel Tumusiime-Mutebile, has a dazzling array of awards to his name, and enumerating them requires a fair bit of time. I will take a quick look at the awards and then pose the million-dollar question: How can an award-winning governor be the same…
City architect Peter Kamya, who is the proprietor of Simbamanyo Estates, has chickened out on his fight to rescue the building called Simbamanyo House, which houses the Ministry of Gender, Labour and Social Development. The building was a few days ago bought by tycoon Sudhir Ruparelia’s Meera Investments Limited, at USD5m, about Shs18.5Bn, after it…
External Labour Recruitment Companies, under their association of Uganda Association of External Recruitment Agencies (UAERA) have resolved to officially close business in the country, citing continued closure of their business by government. The government in June this year announced that it will not engage in job recruitments training and suspended all externalisation of labour due…
City architect Peter Kamya, who is the proprietor of Simbamanyo Estates, has chickened out on his fight to rescue the building called Simbamanyo House, which houses the Ministry of Gender, Labour and Social Development. The building was a few days ago bought by tycoon Sudhir Ruparelia’s Meera Investments Limited, at USD5m, about Shs18.5Bn, after it…
The Kampala High Court has temporarily blocked the execution of the recent ruling against Diamond Trust Bank by the court’s commercial division. The Commercial court Judge, Henry Peter Adonyo had ruled last week that DTB Kenya (DTBK) acted illegally in lending money to Ham Enterprises owned by businessman Hamis Kiggundu, through Diamond Trust Bank Uganda.…
