Commonwealth Development Corporation (CDC) Group, the United Kingdom’s development finance institution recently announced its decision to sell its remaining 9.97% stake in the troubled dfcu bank. The shareholding was sold to IFU, the Danish development finance institution. CDC made its first investment in DFCU in 1964 as a founding partner to the bank and has…
Kampala: City business man who doubles as the director of Kampala Parents School, Rajiv Ruparelia has urged P7 graduates to always defend the image of their former school through giving an excellent performance in relation to learning skills and discipline they have obtained at Kampala Parents. The Mogul and Son of Tycoon Sudhir Ruparelia of…
The Inspector General of Police Martin Okoth Ochola has ordered six senior police directors whose contracts expired at the end of last year to hand over their offices to their deputies not exceeding (today) Friday. This new order has left the most affected officers bitter with the current police leadership calling it inefficient and unappreciative.…
Sheikh Mohammed Mutumba, the Kyampisi Masjid Noor mosque Imam in Kayunga who unwittingly married a fellow man, has been further remanded to Ntenjeru prison. Today Friday, Mutumba, 27, appeared in court but the case could not proceed due to the absence of the chief magistrate Juliet Hatanga. Mutumba was arrested earlier this month and charged with…
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…
Kyaka South Member of Parliament Kafuuzi Karugaba has finally been cleared to take the office of Deputy Attorney General. This comes after Parliamentary Appointments Committee Chaired by Speaker of Parliament Rebecca Kadaga cleared him Friday morning. President Museveni last December reshuffled Cabinet and appointed Kafuuzi as Deputy Attorney General replacing Hon Mwesigwa Rukutana. However…
The Minister of State for Defence and Veteran Affairs, Col (Rtd) Charles Engola Okello will appear before the Committee on Rules, Privileges and Discipline for contempt of Parliament. The directive was issued by the Speaker, Rebecca Kadaga following failure by the minister to present statements from his sector as was drawn on the Order Paper.…
Allegations of the impropriety of the acquisition of land in Kampala by Mesas Pine Investments have been termed false and baseless by the Attorney General, Hon William Byaruhanga. According to the Attorney General, the allegations made by Kawempe North MP, Hon. Latif Ssebagala in December related to improper acquisition of school land in Kampala are…
The outgoing US Ambassador to Uganda, Deborah Malac has warned that ultimately, governments that stay for long in power without a transitional plan often end up badly. Malac, a known straight-talking diplomat, yesterday held her final press briefing at the American Centre as US Ambassador to Uganda after four years of service. According to Malac,…
Police in Bulenga has busted a serial conman for reportedly robbing money from Automated Teller Machines within the Kampala metropolitan area. The suspect Ronald Ampurira was nabbed red-handed on Thursday evening at an ATM machine in Bulenga along Kampala-Mityana highway after swapping an ATM Card belonging to one Mulumba. He had just withdrawn UGX 240.000…
