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…
The Managing Director of Ruparelia Group Businessman and City Tycoon Rajiv Ruparelia has dismissed with contempt a fake demand notice making rounds on social media that property firm, Crane Management Services (CMS), has issued any demand notice or reminder to its tenants. The statement thus reads “Crane Management Services urges all it’s tenants to ignore…
Have you ever wished to go basking in the sun or play soccer at your favourite beach only to find it submerged in water? Lake Victoria has burst its shoreline and the impact of the ever rising water levels is bringing more trouble for beach owners and goers than before. Many commercial facilities on the…
MTN Uganda has aannounced an exciting promotional offer that will enable customers to make calls and stay in touch with friends and family between 10pm and 8am in the morning for as low as only Shs100 from 10pm to 8am. The offer is dubbed “Kafyu Calls” following the curfew conditions imposed by the Covid-19 pandemic. Whereas Ugandans…
By: Dr. Sudhir Ruparelia Kampala: We are entering into recession period globally and the exception is likely to be India and China with ~2% GDP growth in 2020 which is way below ~5 – 8% in the past several years. For the benefit of all, I am sharing my perspective on such scenario on few…
