As a way of resuming business amidst the Coronavirus (COVID-19) lockdown, the Ruparelia Group of Companies, which is owned by Kampala magnate Sudhir Ruparelia, has issued Standard Operating Procedures (SoPs) to all tenants occupying their buildings around Kampala. Rajiv Ruparelia, who is son of tycoon Sudhir, revealed the new SoPs on Friday June 26, 2020,…
We recently revealed on this website how Ahmed Elmajee, the Managing Director of Britania Allied Industries, and his colleague Ali Yousef Ebraik Ohaida, the Group General Manager, are illegally operating in Uganda because they have not yet secured work permits that allow them operate in the country. Following our first story, we can reliably confirm…
The Court of Appeal in Kampala has dismissed an appeal filed by Bank of Uganda against an earlier judgment that had dismissed a shs397 billion commercial dispute between Crane Bank in receivership and businessman Sudhir Ruparelia. The Panel of Court of Appeal judges led by Deputy Chief Justice Alfonse Owiny- Dollo upheld the judgment of…
Don’t treat it as breaking news if you woke up one morning to the bad news that Britania Allied Industries (U) Ltd, known by its house hold item, Splash is no more. This is because its top Libyan Directors, who are the biggest shareholders in the company, are not only flouting the Country’s policies that…
The Managing Director National Enterprise Corporation (NEC) Lt Gen James Mugira has laid a Project Stone on the new Uzima Factory and inspected progress of the ongoing construction works of a second modern fully automated mineral water production plant at Kakiri, Wakiso District. Gen.Mugira and other UPDF officials inspecting the factory NEC Uzima Ltd is…
The Governor Bank of Uganda (BoU) Emmanuel Mutebile has revealed that the Central Bank, the ratio of debt as percentage of GDP stood at 13.9% in nominal value terms as at end April 2020 and 29.7% percent in present value terms as at the end of March 2020. Mutebile made remarks while appearing before Parliament’s…
The Speaker of Parliament, Rebecca Kadaga, has directed the Minister of Finance, Matia Kasaija, to explain discrepancies contained in his Budget speech presented last week and the National Budget for 2020/2021 as approved by the House. “The Minister is required to come here tomorrow to explain the variances between the Appropriation Bill we passed here…
Nation Media Group, the publishers of Daily Monitor, Saturday Morning, Sunday Monitor, and Enyanda announced a cut iff staff salaries by/up to 30 per cent starting from the month of May, June and July due to the impact of the coronavirus (COVID-19). A notice from the management to staff said: “After careful consideration, the Board…
High Court in Kampala has ordered for the re-arrest of businessman Obadia Ntebekaine for failure to pay Prime Finance 304,595 US Dollars and Damages of 12Million shillings. Businessman Obadia Ntebekaine was dragged to the High Court by Prime Finance Company over his failure to pay $3.2million (sh11.8billion) in a case dating way back in 2008.…
Government has reached an agreement with telecom company MTN Uganda to renew its license for a period of 12 years. MTN will pay sh372 billion for the license that commences on July 1, 2020. The telecom company said in a statement on Saturday that “MTN Uganda and the Commission will conclude the signature of the…
