The Principal Judge, Dr. Flavian Zeija has revealed that one of the parties in the Diamond Trust Bank vs Hamis Kiggundu Shs120bn case tried to bribe him to influence his decision. “I was flabbergasted by one of the parties sending emissaries to me with financial proposals in order to influence my decision. This is disgusting,…
The labour externalization sector is unsettled after the commissioner of labour at the Ministry of Gender, Labour and Social Development (MGLSD) Lawrence Egulu on behalf of the permanent secretary issued a job order to Saliwa Recruitment Agency Uganda Limited allowing them to export labour despite the existing ban on labour export. The letter dated 26th…
The Court of Appeal in Kampala has dismissed with costs, an application in which the proprietors of Simbamanyo Estates Ltd had sought to halt the auctioning of its prime properties in Kampala which was meant for Equity Bank Ltd to recover outstanding loans worth $10.8 million (about Shs40 billion). Justice Christopher Madrama ruled that Simbamanyo…
The Association of Real Estate Agents (AREA) has welcomed the move by government to introduce a new legislation to regulate land and property dealers in a quest to streamline all sector operations. According to AREA, the law will spell out clear terms of engagement in real estate transactions, thereby getting rid of fraud and eliminate…
Airtel Uganda has appointed Manoj Murali as its new Managing Director to replace V.G Somasekhar, who resigned at the beginning of March 2020. Manoj has been the Chief Executive Officer for Kerala & Tamilnadu Division in at India’s Bharti Airtel Limited. Somasekhar, who was supposed to leave at the end of March but was caught…
The Managing Director Air Tanzania Mr Ladislaus Matindi has said the resumption of flights after six months of closure of Entebbe International Airport due to Covid-19 will help promote investment in the region. “We continue to extend the wings of Kilimanjaro over Africa and beyond so that the investment, trade and tourism opportunities presented by…
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…
