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.…
On 1st October 2020, Uganda reopened Entebbe International Airport and other entry points after President Yoweri Museveni eased on COVID-19 restrictions. The news about reopening of borders threw players from various sectors of the economy in a frenzy of excitement as it brought a new ray of hope to many, hoping that it was time…
Ivan Kituka, the Senior Manager Branch Performance and Customer Experience at Housing Finance Bank, (HFB) is living in danger after a very jilted and cuckolded husband who only identifies himself as Sozi, has threated to shoot him in the head and chest for bonking his wife. In a letter written by the said Sozi, titled…
The Uganda Police have arrested two suspects in connection with the cyber attack on the country’s two leading telecom companies and banks over the weekend. The two suspects are attached to Pegasus Technologies, a company that provides financial and billing solutions for various companies in Uganda. The suspects were arrested on Wednesday by the Criminal…
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…
