Pressure arose within top Bank of Uganda officials after learning that the Speaker of Parliament, Rt. Hon. Rebecca Kadaga has given Igara East MP, Michael Mawanda only one extra month to table before Parliament the Constitution Amendment Bill seeking to introduce sweeping changes in the governance of Bank of Uganda. The Speaker told the legislator,…
High Court has dismissed with costs an interim application seeking to block the government and Uganda Revenue Authority (URA) from implementing and enforcing the Digital Tracking Systems (Tax Stamps). Justice Musa Ssekaana of Civil Division of High Court on Tuesday dismissed the application filed by Alcohol Association of Uganda and 38 companies led by Nile…
By Daily Monitor A High Court judge in Kampala has sued businessman Bob Kabonero for alleged noise pollution. In his suit filed before the High Court Civil Division, Justice Andrew Bashaija is seeking orders of a permanent injunction against the businessman, his bar and restaurant Ponsiano Kwizera trading as Green Lounge for continuously causing excessive…
The Dfcu Bank was on Monday February, 3, 2018 thrown out of Meera Investment Limited Properties – starting with Crane Chambers at Kampala Road something which has made many of it’s clients run to withdraw their money due to fear of what would come next. Trucks carrying dfcu bank belongings including chairs, teller tables among…
Parliament has approved a request by government to borrow Euros 20.6 million (equivalent to Shs83.6 billion) for the implementation of the airborne geophysical survey and geological mapping of Karamoja. The loan will be secured from the Corporate Internationalization Fund of Spain. Presenting the committee report to Parliament sitting on 30 January 2020, the Chairperson of…
The Speaker of Parliament, Rebecca Kadaga has met a group of Indian Investors based in the UK, and interested them in establishing industrial parks in the country. She said that government’s plan is to establish 13 Industrial parks, but so far, only three are under construction in Mbale, Namanve and Kapeka. “There are another eight…
Government has listed priority areas to energise the economy in financial year 2020/2021 against the backdrop of widening trade deficits and local revenue gaps. In its report on the Budget Framework Paper presented by the Committee on Budget, MPs warned of a growing trade deficit. The report blames the decline on trade wars with Kenya…
If on Monday you meet some agents working on behalf of a Kampala Road troubled Dfcu Bank, looking for small office space to rent to run their errands, wonder not. Because the hunt is on… and they say when you see monkeys running out of a forest, you will only be a wiseacre to enter…
Parliament has paid tribute to Amina Hersi Morghe, a Kenyan business woman who has invested heavily in Uganda. The parliamentary mention follows her recent receipt of an award, ‘Entrepreneur of the Year Africa 2019’ by European CEO Magazine. Parliament praised Hersi referring to her as a true East African, not only for winning the award…
Bitter and shocking revelations are still striking and ashaming the Image of the Central Bank of Uganda (BoU). Latest from credible inside sources revealed to us that Bou sold Crane Bank (CBL) and others like Global Trust Bank (GTB) without holding a board meeting and therefore, there were no minutes upon which the transactions were…
