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Deputy Speaker Tasks Govt on Boosting Tourism Sector Funding
Deputy Speaker Thomas Tayebwa has criticized the Ugandan government for neglecting the tourism sector despite its significant contribution to the country’s foreign exchange earnings. Speaking at the Ekkula Sustainable Tourism Awards 2024 in Kampala, Tayebwa expressed frustration over the sector’s underfunding, calling it a missed opportunity for economic transformation. “Tourism remains one of our top…
Trouble Looms: Police Summons BoU Finance Director Sekabira Over Illegal Concealment Of Land Tittles, Sale Of Commercial Banks
The Criminal Investigations Directorate (CID) in Kibuli has summoned Benedict Sekabira, the Bank of Uganda Director Financial Markets Coordination, to record a statement over allegations that he and several other BoU officials were involved in illegal concealment of title deeds. In a letter dated July 27, 2020, to the Governor Bank of Uganda, Criminal Investigations…
23 People Killed In Congo Plane Crash
At least 23 people were killed Sunday when a small plane crashed into houses in a densely populated area of the city of Goma in eastern Democratic Republic of Congo, a regional rescue official said. The dead are believed to include all those on board the plane as well as people on the ground. “We…
Supreme Mufti Ndirangwa Asks Gov’t To Re-open Places Of Worship
The Supreme Mufti Sheikh Siriman Kasule Ndirangwa has appealed to the government of Uganda to consider re-open places of worship so that believers can jointly seek divine intervention in the battle against COVID-19. He said all Muslim leaders are now aware of the danger that COVID-19 presents and very well know how to conform to…
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Hamis Kiggundu: Our Banking System Needs Reform Otherwise It Will Impoverish All If Us
By Hamis Kiggundu Why do Ugandans come to banks rich with properties they pledge as securities and leave poor? Does it imply that all Ugandans are poor business Managers? Or the problem is with the System? My arguments on the call for banking reforms were specifically based on facts, reality within realistic current prevailing circumstances…
Covid-19 Crisis: Museveni Advises Banks To Reschedule Loan Repayments
In a way of emphasis on bank loans, President Yoweri Museveni has said banks must not count days when people have not been working to service active loans. Millions of Ugandans in both the formal and informal sectors are currently not working as a result of the government’s measures to control the spread of coronavirus-COVID-19.…
ArchBishop Lwanga, BoU’s Kasekende Shocking Secrets Unmasked
As the days for Bank of Uganda Deputy Governor Dr. Louis Kasekende come to an end, shocking facts continue to emerge on how he’s been hungry and greedy yearning to meet the president for a renewal of his contract. Latest and Shocking facts intimate that Dr. Kasekende had reached an extent of using the Catholic…
Kadaga Woos UK Indian Investors To Establish Business In Industrial Park Devt
The Speaker of Parliament, Rebecca Kadaga has met a group of Indian Investors based in the UK, and interested them in establishing industrial parks in the country. She said that government’s plan is to establish 13 Industrial parks, but so far, only three are under construction in Mbale, Namanve and Kapeka. “There are another eight…
Central Bank Worried About Delays In Financial Sector Amendments
Bank of Uganda is seeking the intervention of Parliament to ensure that regulations regarding governance and supervision of the financial sector are given urgent attention. The bank officials made the proposal while meeting MPs from different committees of parliament on Friday. Led by Deputy Governor Michael Atingi-Ego, the Central Bank officials held a workshop with…
INFLATION: Stranded BoU Raises CBR To 8.5 Percent
Bank of Uganda has decided to raise the Central Bank Rate by a percentage point to 8.5 percent as part of emergency measures against the spiraling inflation. This was decided at Tuesday’s emergency Monetary Policy Committee meeting called by the Central Bank Deputy Governor, Michael Atingi-Ego to respond to a situation that has seen prices of…
