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Former EALA Speaker Dan Kidega Cheats Death After Nasty Kireka Accident
The former Speaker of the East Africa Legislative Assembly (EALA), Mr. Dan Fred Kidega, is battling for life in coma after getting involved in a very nasty road accident on Saturday evening. Police spokesperson Fred Enanga revealed that Kidega’s accident was very serious as it was a head-on collision with a FUSO Lorry that saw…
NUP MPs Implore Govt To Increase Funding For Vulnerable Ugandan Elders’ Welfare
The opposition members of parliament have urged the government to lower the eligibility age for elderly recipients of welfare payments from 80 to 65 years old and to enhance the funding while taking the economy into consideration. The remarks were made during a meeting held in the Leader of Opposition’s Boardroom on Friday, September 29,…
BoU, Crane Bank Saga: Supreme Court Confirms Auditor General’s Report Shs 397 Bn Was Swindled By Greedy BoU Officials In Bank Sale
Supreme Court ruling on Bank of Uganda versus Sudhir Ruparelia in Shs 397 billion case confirms Auditor General’s report that BoU officials swindled the cash in CBL sale. The Supreme Court on February 12, 2022 upheld the earlier rulings of the High Court and Court of Appeal that the Bank of Uganda (BoU) must pay…
Western Uganda Thankful For Sheema District Woman MP’s COVID-19 Awareness Song
This should probably come as no surprise that the Youthfull Sheema Woman MP, Hon. Jacklet Atuhaire Rwabukurukuru, has released the first hit song to deal with the COVID-19 pandemic in the Country. Yes, it is, a viral phenomenon and through this song, people should be made aware about the ongoing pandemic of Corona Virus. It…
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BoU Report To Museveni – “Simbamanyo Estate Was Auctioned In Accordance With Provisions Of The Mortgage Act & the Mortgage Regulations To The highest Bidders”
Bank of Uganda has defended the decision by Equity Bank to auction Simbamanyo House and Afrique Suits saying the transaction was done under the law. BoU says Simbamanyo and Mr. Kamya failed to respect their loan obligation when they (Kamya) failed to payback the loan as agreed by parties as he continued receiving money from…
Billionaire Sudhir Tops List of Top 10 Richest Investors On The Uganda Securities Exchange
Uganda’s GDP of $37.4 billion is one of the most undervalued, with a marginal representation of local investors as high institutional ownership crowds them out of the market. However, despite the fast growth of the local economy, the market capitalization of the Ugandan bourse is valued at $6.1 billion (UGX21.6 billion), which is 16.3 per…
MinTumwebaze Appoints Dr Beine As NAGRC&DB Executive Director
The Minister of Agriculture, Animal Industry and Fisheries, Hon. Frank Tumwebaze has appointed Dr. Peter Beine as the Executive Director of the National Animal Genetics Resources Centre and DataBank (NAGRC&DB). This was upon the recommendation of the NAGRC&DB Board of Directors and in accordance with the legal advice of the Attorney General. Minister Frank Tumwebaze…
ANDREW MWENDA: BoU Should Concede Crane Bank Legal Battle, Negotiate With Tycoon Sudhir
City talkative Journalist Andrew Mujuni Mwenda has advised the frustrated Bank of Uganda (BoU) to concede in the four-year old legal battle with city tycoon Sudhir Ruparelia and his Meera Investments Ltd following the latest Supreme Court ruling that quashed the central bank bid to liquidate the defunct Crane Bank Ltd. This comes after an…
Finance PS Ggoobi Writes To Parliament Over Status Of Govt Shares In Munyonyo Commonwealth Resort
The Permanent Secretary in the Ministry of Finance, Planning and Economic Development (MoFPED) Mr Ramathan Ggoobi has clarified to Parliament on the status of Government’s 25% shares held in the Commonwealth Resort, Munyonyo. In a detailed letter to the Clerk to Parliament Parliament, Mr Ggoobi also a leading economist noted that Finance Ministry is at…
But Why Has BoU Delayed To Pay Sudhir Billions Wasted In Bogus Case? Full Torch Into Court’s Decree Directing BoU To Stop Zigzagging
In the Supreme Court ruling delivered by Hon. Chief Justice Prof. Lillian Tibatemwa-Ekirikubinza JSC (as a single judge), on 1st July 2022, re-emphasized that once a company is placed under receivership, it doesn’t lose its legal existence-another loss for Bank of Uganda (BoU). This ruling came out of a failure by the two parties in this…
