The government of Uganda has set up new investigations into which city businessman Sudhir Rupaleria is alleged to have taken approximately Shs 340 Billion out of defunct Crane Bank for personal ventures. Bank of Uganda intends to appeal to the Supreme Court to make a case whether it has powers to sue Sudhir. If the…
The Central Bank of Uganda has finally given up asked owners of the unclaimed certificates of land titles of former defunct banks to apply and reclaim them. The unclaimed certificates of over 21 land titles were advertised on Wednesday August 5, 20220 by BoU after very many others were allegedly stolen by bank officials or…
Due to the continued refusal by the manufacturers to pay for the tax stamps, Government of Uganda (GoU) is looking at Shs 340 Billion Shillings to be paid to SICPA a company it out sourced to supply the Digital Tax Stamps. This means that 1 billion per day of tax payer’s money will be allocated…
British police have carried out their biggest operation ever, arresting “iconic” figures and smashing thousands of conspiracies including murder plots after infiltrating a communications service used by criminals. The National Crime Agency (NCA) said the cracking of the encryption used by EncroChat, which offered a secure mobile phone instant messaging service and was used by…
Dr. Atingi-Ego has assumed his role as the Deputy Governor, Bank of Uganda on August 03, 2020 following his appointment by His Excellency Yoweri Kaguta Museveni on 23 April, 2020. He replaces Dr. Louis Kasekende, whose contract expired in January and wasn’t renewed. Dr. Atingi-Ego is a seasoned Economist who has served in several capacities…
Rwandan airports on Saturday reopened to international travellers, more than four months after the central African nation suspended commercial passenger flights to mitigate the COVID-19 outbreak. The suspension didn’t affect cargo and emergency flights. Tourists travelling by charter flights had been allowed to enter the country that is famous for mountain gorilla tracking since June…
Members of Parliament (MPs) on Wednesday, July, 29, 2020 overwhelmingly rejected the proposal by government to de-register coffee farmers that reportedly fail to meet the standards set by government in the coffee production chain and by producing low quality coffee. The proposal is provided for in the National Coffee Bill 2018, which seeks to mandate…
Kenya will re-open its airspace to international flights on August, 1, 2020 for priority and authorized airlines and travelers. Uganda is one of only 19 countries that have been authorized to fly into Kenya. Travelers from the 19 countries who do not have symptoms and have had recent COVID-19 tests, will be exempt from quarantine.…
Power distribution company, Umeme Limited has suspended the Electricity Connections Policy (ECP) over lack of enough funds to implement it. This was was revealed in a statement issued on Wednesday July 2020 where Umeme noted thus; SUSPENSION OF NEW CONNECTIONS UNDER THE ELECTRICITY CONNECTION POLICY (ECP) PROGRAMME 29, JULY, 2020 The Government of Uganda launched…
The violent fall and bloody death of Gaddafi in 2011 triggered a treasure hunt for the riches of the wealthy Libyan dictator. And now, analysis shows that most of the money may hide in secret Dubai bank accounts and African countries, according to analysis. For years, rumors have swirled that billions of dollars, at least…
