The Managing Director National Enterprise Corporation (NEC) Lt Gen James Mugira has inspected the construction of Uzima mineral water Factory at Kakiri .He was impressed by progress of the ongoing construction works of a Second modern fully automated mineral water production plant. on going construction of the water plant NEC Uzima Ltd is one of…
Parliament has passed the Excise Duty (Amendment) Bill, 2020 with amendments which will see an increase in the taxes levied on petrol and diesel effective 01 July 2020. The tax on petrol has been increased from Shs1,200 per litre to Shs 1,350 per litre and that of diesel from Shs 880 to Shs 1,030 reflecting…
Total and Tullow have entered into an Agreement, through which Total shall acquire Tullow’s entire interests in Uganda Lake Albert development project including the East African Crude Oil Pipeline. The overall consideration paid by Total to Tullow will be $575M, with an initial payment of $500M at closing and $75M when the partners take the…
Bank Of Uganda and Finance Ministry have defied High Court orders blocking Parliamentary Commission from releasing the Shs 10bn to MPs until the hearing of the application challenging such. Reliable sources have confirmed to this website that a section of members of parliament have already secretly received Shs 20m covid-19 bonanza on their accounts. “Let…
As a way of mitigating the disastrous effects of the Coronavirus (COVID-19) lockdown on the economy and several business ventures, the Bank of Uganda has directed all commercial banks and supervised financial institutions to suspend repayment of loans for 12 months. The Central Bank announced credit relief measures to help mitigate the adverse effects of…
The Ministry of ICT and National Guidance through its project dubbed National ICT Initiatives Support Programme (NIISP) is calling innovators to submit proposals if they have digital solutions that can help support the fight against the coronavirus pandemic. According to Vincent Waiswa Bagiire, the permanent secretary at the ministry, NIISP is looking for digital solutions…
The Covid-19 pandemic is putting government officials to test on their degree of commitment to serve Ugandans. While some have shown unparalleled devotion and will emerge as heroes, others will, no doubt, be dragged down whether legitimately or illegitimately. Reports recently emerged that the relief food distribution had been temporarily suspended. Lots of reasons were…
The Bank of Uganda (BoU) has warned financial institutions against levying extra charges or fees when restructuring loans for borrowers as the country grapples with the coronavirus pandemic. In the guidelines issued by the acting Deputy Governor, Dr Adam Mugume, on Tuesday, April 14, the banks must also desist from demanding that some borrowers clear…
In a way of emphasis on bank loans, President Yoweri Museveni has said banks must not count days when people have not been working to service active loans. Millions of Ugandans in both the formal and informal sectors are currently not working as a result of the government’s measures to control the spread of coronavirus-COVID-19.…
The URA Domestic Taxes Enforcement Unit, working on solid intelligence moved in on Yaket International Limited, the manufacturers of Yaket Mineral Water and found the company producing and packaging unstamped water at their premises in Gayaza. The enforcement team also established that the factory was running two production lines churning out unstamped bottled water while…
