It is believed that family businesses account for 80% of companies globally but despite this milestone, according to researchers, only 30% survive to the second generation, 12% transit into the third generation and only 3% reach the fourth generation. This means that while many families start businesses, they quickly die once the proprietor dies. This…
Ham Enterprises Limited with its lawyers Fred Muwema and Arnold Nogan Kimara has responded to Uganda Bankers’ Association press statement released on October 8, 2020 following a Commercial Court head Justice Henry Peter Adonyo ruling that the credit facilities DTB-Kenya offered to Ham Kiggundu are illegal since it is not licenced by Bank of Uganda…
“With the advancement of information technology will come more sophisticated crime”. This and other related statements are commonly used by even those who advance the need for a digitally-led society. This, therefore, means that the advancement in IT is a necessary evil, which will always be taken advantage of by cyber-fraud, robbery or kidnap and…
Kampala mogul Dr. Sudhir Ruparelia is the new landlord of the expansive Simbamanyo House, which is situated on Lumumba Avenue opposite CPS building, after his Meera Company bought the building from Equity Bank. Simbamanyo House originally belonged to city businessman Peter Kamya, who staked it as collateral security to Equity Bank in 2017 for a…
Uganda Bankers’ Association (UBA), an umbrella organization for financial institutions licensed and supervised by Bank of Uganda is to join Diamond Trust Bank (DTB) in appealing against court’s ruling in the loans case against Ham Enterprises Ltd, owned by businessman Hamis Kiggundu. Commercial Court head Justice Henry Peter Adonyo on Wednesday ruled that the credit…
Several bosses in commercial banks in Kampala and other financial institutions are sweating plasma following the October 7th, 2020 ruling by the High Court Commercial Division in a case filed by tycoon Hamis Kiggundu and Diamond Trust Bank, in which caused outlawed syndicate lending. The panic among commercial banks executives arose after High Court justice…
The High Court Commercial Division in Kampala has Wednesday instructed Diamond Trust Bank (DTB) Uganda and Diamond Trust Bank (DTB) Kenya to refund Shs 120 billion for carrying out illegalities on Hamis Kiggundu’s accounts, the CEO of Ham Enterprises. Justice Henry Peter Adonyo in his ruling said that DTB which operates in Uganda and Kenya violated…
With full knowledge that the bank had carried out illegalities, it decided to call for an independent joint audit in trial to preempt the acts of illegality so as to save their illegality based and questioned defense. We can authoritatively report that Diamond Trust Bank Uganda and Kenya that have been trying to fight a…
A fire outbreak at Vita Foam Factory in Njeru, Buikwe District has left investors, residents and employees in tears after property worth millions of shillings was lost. According to reports, stroke in the wee hours of Monday September 28, 2020. The cause of the fire is not yet known by press-time and there is no…
Several investors in Uganda are crying foul and accusing the minister for Lands, Housing and Urban Development Olive Betti Kamya of overstepping her mandate and usurping the powers of Hon. Evelyn Anite, who is the State minister of Finance for Investment and privatisation. The investors contend that instead of Kamya allowing Anite to carry out…
