Business News
Speaker Among,IGG Beti Kamya Wage War Against Corrupt Govt Officials
Speaker Anita Among has urged the Inspectorate of Government (IGG) to increase public awareness campaigns in the fight against corruption. The Speaker asked the IGG to create friendship with the citizens to facilitate the smooth and easy gathering of vital information on the corrupt. “I know you are creating awareness to the public about corruption,…
Defilers,Rapists Should Rot In Prisons Forever- Min Balaam
The State Minister for Gender, Labour, and Social Development in charge of Children and Youth Affairs, Balaam Barugahara, has said that rapists and defilers should never be given bail once arrested. Balaam made these remarks while addressing members of the press at the Uganda Media Centre in Kampala on October 11, 2024, while commemorating the…
Life Shattered: The Untold Story of Saul Male, Nasuuna Aisha, and the 2018 Protests in Kampala
In the heart of Kampala, Uganda, during a time of political unrest and social upheaval, the lives of many were changed forever. Among them was a young man, Saul Male, and his wife, Nasuuna Aisha, whose fates became inextricably linked with a dramatic moment in Uganda’s recent history. It was 2018, and the streets of…
Bank Fraud: Equity Loses UGX 1.2 Bn Through Credit Card Sophisticated Hack
Equity Bank, a leading financial institution with operations in Uganda, has suffered a significant loss in its Kenyan operation due to a sophisticated credit card hack. The hack, which occurred between April and July 2023, resulted in a loss of UGX 1.2 billion (KES 322.1 million), has raised concerns about the vulnerability of the bank’s…
Sex Predator: Serial Rapist Jailed After Getting 42 Life Sentences
A South African serial rapist who assaulted children as young as nine years old – has received 42 life sentences. Nkosinathi Phakathi was convicted of 90 counts of rape – attacks that he carried out between 2012 and 2021. The 40-year-old sometimes made children watch him raping his victims and also forced young boys to…
Business
Big Story: Investors Cry Foul As Minister Betti Kamya Kicks Anite Out Of Investment, Takes Over Her Roles
Several investors in Uganda are crying foul and accusing the minister for Lands, Housing and Urban Development Olive Betti Kamya of overstepping her mandate and usurping the powers of Hon. Evelyn Anite, who is the State minister of Finance for Investment and privatisation. The investors contend that instead of Kamya allowing Anite to carry out…
Big Story: Leadership Crisis Hits BoU As Museveni Fail To Appoint New Governor
President Museveni’s failure to appoint a new Governor for the Bank of Uganda has left the institution exposed. Deputy Governor Michael Atingi-Ego has reportedly failed to stamp his authority on the institution which has been running under the leadership of the late Prof. Emmanuel Tumusiime Mutebile, an economist with a no-holds-barrel approach to handling the…
Big Story: Legislature Moves To Kick BoU Top Officials Out Of Juicy Positions Over ‘Dubious Sale Of Crane Bank, Seven Commercial Banks’
The Parliament of Uganda through Igara East Member of Parliament, Hon Michael Mawanda is working on a, ‘Constitution (Amendment) Bill, that seeks to, among others, remove the Governor and Deputy Governor of Bank of Uganda from being Chairperson and Vice Chairperson respectively of the Central Bank. According to Hon. Mawanda, the decision making authority is…
Big Story: London Appellate Court Orders Embattled Dfcu Bank, Its Former Managers To Cough Over UGX8.8 Billion In Costs To Crane Bank Shareholders
A London Court of Appeal has ordered dfcu Bank, its holding company, dfcu Limited, as well as dfcu Bank’s former board chairman, Jimmy Mugerwa (now dfcu Limited Chairman), Juma Kisaame and William Sekabembe, the bank’s former Managing Director and Executive Director respectively, to pay shareholders of the former Crane Bank Limited (CBL), £1,875,000 (UGX8.8 billion)…
Big Story: Museveni Fires NIRA Boss Judy, Orders Internal Affairs Min To Appoint New ED
President Yoweri Kaguta Museveni has ordered for the firing of Judy Obitre-Gama, the Executive Director of the National Identification Registration Authority (NIRA) over failing to satisfactorily issue National Identity cards. In a letter seen by this website, to Internal Affairs Minister, Gen. Jeje Odongo, President Museveni instructs the Minister to work with the NIRA Board…
Big Story: Serena Kigo In Hot Soup! Risks Losing It’s Land Title Over Illegal Trespass
Businessman Hamis Kiggundu alias Ham through Kiham Enterprises, has run to court seeking for the cancellation of a land title created on the contested Kigo land by Buganda Kingdom in favor of Pearl Development Group. The petition addressed to the commissioner land registration looks forward to seeing the contested land titles cancelled claiming that they’re…