Business News
MPs Query UDC’s Capitalisation Of Private Companies Disparities
Members of the Budget Committee have asked the Committee of Tourism, Trade and Industry to examine the viability of investing Shs269 billion in several private enterprises through the Uganda Development Corporation (UDC). The trade committee chairperson, Hon Mwine Mpaka presented his committee report on the National Budget Framework Paper for the Financial Year 2022/23 -…
M7 Defends Uganda’s Human Rights Record, “We Are Seasoned People,”
President Yoweri Museveni has strongly defended Uganda’s human rights record and said for the last 60 years, their struggle has been about promoting and defending Human Rights. “There is a lot of misinformation, our whole struggle for last 60 years has been about human rights. But you get misinformation from some of the groups who…
Speke Resort Munyonyo & Munyonyo Commonwealth Resort Host AU Ministerial Meeting On Reform UNSC
Speke Resort Munyonyo & Munyonyo Commonwealth Resort Limited are this week hosting the Ministerial meeting of the African Union Committee on the reform of the UN Security Council. The Capital Times have learnt that the AU Committee ministerial meeting is happening this week from Wednesday, 19 January to Friday, 21 January 2022. The hotel through…
OPINION: Uganda’s Electoral Commission Should Borrow a Leaf From Victoria University’s Online Elections
Electing leaders to occupy various formal positions is a norm in any democratic setting, and Uganda is no exception. On a sad note, fraud has adulterated this hard-earned democracy, with the national Electoral Commission being at the spotlight. At the forefront of challenging the status quo, is Victoria University Uganda that is proving to be…
Gen Kayanja Inspects Construction Of Ferry River Similiki Linking Uganda To DRC
Maj Gen Kayanja Muhanga, the UPDF overall Commander Operation Shujaa, on 17 January 2022 inspected the on-going ferry construction works at Hayibale landing site on river Semuliki in Rwebisengo county – Ntoroko district. Uganda National Roads Authority (UNRA) is working to install the ferry on river Semuliki that will connect Uganda and Eastern Democratic Republic…
Business
Trouble As Tycoon Hamis Kiggundu Drags Diamond Trust Bank To Court For Stealing Over Shs 100bn From Account
Guys, if you find Directors and Managers of Diamond Trust Bank (DTB) in hiding, don’t ask why, trouble is looming. A disgruntled client, City Businessman and owner of Ham Enterprises Limited Tycoon Hamis Kiggundu has dragged (DTB) to the Uganda Commercial Court after the bank illegally and fraudulently debited over 100 billion UGX from its…
Trouble Looms As BoU Lawyer ‘Makubuya’ Is Dragged To Court Over Theft
Former Deputy Katikiro of Buganda and Bank Of Uganda lawyer Apollo Nelson Makubuya is in hot soup following allegations of stealing land from the former Executive Director of the Kabaka Foundation, Ambassador Matia Lubega. The land in question is situated on Block 268 Plot 475 Kyadondo in the upscale Lubowa neighborhood along Entebbe Road valued…
Trouble Looms As DPP Asks Police To Conduct Further Investigations Ahead Of Kasekende, Bagyenda Prosecution
Borrowers and owners of the defunct International Credit Bank (ICB), Greenland Bank and Cooperative Bank whose properties were taken over and sold by Bank of Uganda irregularly and at giveaway prices, will have to wait a little bit longer for justice to be served. According to CEO East Africa Magazine reported that the Office of…
Trouble Looms As DTB Staff Come Out As Witnesses Against The Bank In Shs120Bn Fraud Case
The 120Bn fraud case filed by Ham Enterprises against Diamond Trust Bank Uganda and Diamond Trust Bank Kenya, continues at the Commercial Division of the High Court. On August 28, 2020, Ham Enterprises through lawyer Fred Muwema filed a preliminary Objection asking the court to dismiss the defendants defense on basis of its illegality background.…
Trouble Looms As Ex BoU Deputy Governor Is Dragged To IGG Over Amassed Wealth
Former Deputy Governor Bank of Uganda Dr. Louis Kasekende is in hot soup following the whistleblower petitioning the Inspector General of Government (IGG) with evidence that he has more property than he declared to the IGG. Thecapitaltimes has landed on a document received by the Inspectorate titled confidential notes, corruption against former Deputy Governor Louis…
Trouble Looms! Disgruntled Ex- Crane Bank Employees Drag DFCU to Court Over Fraud, Human Rights Violations! Demand Production & Inspection Of Several Documents
Former employees of Crane Bank Limited (CBL) which was fraudulently taken over by Bank of Uganda (BoU) and later sold on phone have again dragged DFCU on behalf of 700 others to the High Court to compel production and inspection of several documents hitherto with held by DFCU Bank Ltd. This comes after High Court…