Business News
Negligence: Four Soldiers Sentenced For Not Safeguarding Military Gear
The 5 Infantry Division Court Martial, presided over by Col Peter Musherure, has sentenced Private Odeyeka Bernard, aged 31 and a member of the 103 Battalion, to two years in prison for failing to protect war material, in violation of section 120(1) 1(2) cap 330 of the UPDF Act. Private Bernard admitted guilt, acknowledging his…
Atiak Sugar Factory Scandal: Angry Ssenyonyi Wants Tycoon Amina Hersi To Account For 553Bn Govt’s Money Spent On The Project
Hon.Joel Ssenyonyi,the Leader of the Opposition in Parliament has said there is nothing to show for the Shs553.71 billion that government has progressively sunk into Atiak Sugar Factory, and demanded that it explains the investment in the factory that has since failed to break even. “This is a project that excited many people, because it…
Staff Affected By Rationalisation Will Cause Chaos To Economy- Speaker Among Warns Public Service
Speaker of Parliament Anita Among has made a case for the placement of staff affected by the ongoing rationalisation of government agencies. In a meeting with officials from the Public Service Commission (PSC) led by the chairperson, Agnes Kabogoza-Musoke, Speaker Among said leaving the affected officials jobless and without compensation will affect them and their…
Speaker Among Orders Finance Ministry To Give GROW Project Guidelines For Women
Access to funds under the Generating Growth Opportunities and Productivity for Women Enterprises (GROW) project has continued to raise debate in Parliament with Speaker Anita Among directing the Minister for Finance, Planning and Economic Development to present its guidelines. “Let us get a report on who the beneficiaries, regulations, areas so far benefited, how much…
Activist Kakwenza Dumps Case Against Govt In EA Court
Kakwenza Rukirabashaija, a local political activist seeking regime change in Uganda has withdrawn his legal case against the government in the East African Court.(Explorer) He fled into self-claimed exile to Germany some years back after he was arrested for circulating derogatory statements against the first family. This decision comes days after the Kisangani rebel group…
Business
Big Story: ERA Introduces New Billing System, Reduces Power Tariffs To Make Electricity Affordable
The Electricity Regulatory Authority (ERA) has made amendments to the electricity tariff structure with an aim of promoting access to, and use of electricity. The development was announced Thursday by the Chairperson of ERA Ms. Sarah Kanabi Wasagali, who noted that ERA’s aspiration for the next five years is to be a recognizable institution in…
Big Story: Executive Director, 3 Top Managers Resign As Tropical Bank Runs Bankrupt
Panic and tension have engulfed the Kampala road based Tropical Bank after almost the entire senior management tendered in their resignation. According to a highly placed source with the bank, those who have handed in their resignations include the Executive Director Denis Muganga Kakeeto, Hussein Sentamu the Head Credit Department and a one Maurice the…
Big Story: Government Moves To Amend MoU On Labour Externalization
The government has started a process to ensure that Ugandans employed in the Middle East get similar terms of employment as their counterparts from other countries. This is after it was revealed that the earnings and workload for Ugandans especially those working as house maids are determined by clauses in the Memorandum of Understanding between…
Big Story: Ham Vs DTB Case Takes New Twists As FIA Grills Diamond Trust Bank Officials Over Tax Evasion, Money Laundering
The case in city tycoon Hamis Kiggundu of Ham Enterprises accuses Diamond Trust Bank of illegally debiting over USD34M from his company’s accounts has taken another twist after the Financial Intelligence Authority (FIA) grilled officials of the bank on Monday, about their roles in the matter. According to a letter seen by this website dated…
Big Story: High Court Stays Execution Of Recent Commercial Court Ruling Of Ham-DTB Case
The Kampala High Court has temporarily blocked the execution of the recent ruling against Diamond Trust Bank by the court’s commercial division. The Commercial court Judge, Henry Peter Adonyo had ruled last week that DTB Kenya (DTBK) acted illegally in lending money to Ham Enterprises owned by businessman Hamis Kiggundu, through Diamond Trust Bank Uganda.…
Big Story: How KCCA Officials Messed Up Youth Fund Programs, Stole Billions of Gov’t Funds In Shoddy Deals
Kampala: If there is any government Authority that frustrating President Yoweri Museveni’s fight against corruption, then it is the City Hall based Kampala Capital City Authority (KCCA), because investigators indicate that officials there are involved in gross abuse of government funds and tax payers’ money. This is because officials at KCCA not only embezzled funds…