Breaking News
Rising Tensions As Kagame Responds to Tshisekedi’s ‘Rwanda Invasion’ Threats
President Paul Kagame has expressed determination to defend Rwanda amid threats of a possible invasion by DRC. “When we hear those who claim to be planning to attack and destroy the security of Rwanda, the question is: Is there anything we haven’t seen?” wondered Kagame. “We have experienced destruction; we have reached its lowest point,”…
Most Of Exiled Ugandans Have Returned Home Due To Prevailing Peace-M7
President Yoweri Museveni has urged the people of Yumbe to vote for the National Resistance Movement in the forthcoming 2021 elections. The President made a stopover, a few metres away from the Lokopio Hills Technical Institute, following a thunderous welcome by the party supporters who had thronged the roadside. He first got out of the…
Don’t Give Us Excuses Over Your Incompetence, Cough Our Money – Shareholders Task Dfcu Bosses
Earlier this year, Dfcu Bank announced that its shareholders will have to wait longer before they think of getting dividends for the year 2021 as the bank struggles to preserve capital. According to the bank’s latest audited financial results published recently, the bank’s overall profitability for 2021, was considerably affected by the loan impairments, which…
Police Breaks Silence On Centenary Bank Top Manager Poured By Acid
Police in Kampala are investigating circumstances under which a Centenary Bank Manager was attacked by unknown assailants who poured acid. According to the Kampala Metropolitan deputy police spokesperson, Luke Owoyesigyire, the incident is reported to have happened around 5pm in Makindye near KCCA offices on Tuesday. “Yesterday, 28/09/2021 at around 1700hrs the police in Katwe…
News
Big Storm: How DFCU Bank Was Dragged Down By Crane Purchase As Other Banks Report Stellar Profits
While Uganda’s banking sector recorded strong financial results for 2021, the Development Finance Company of Uganda (DFCU) Bank continues to reel from its acquisition of Crane Bank in 2017 and the fallout from the Covid-19 pandemic. The third-largest domestic bank in Uganda in terms of assets recorded a 46% drop in profit to USh9.3bn ($2.6m)…
This Rosebud’s story of resilience during Covid19 lockdowns could inspire distressed entrepreneurs
Since Covid-19 poked its ugly nose, it has changed the pace of life for many people across the globe. As for businesses, many that still survive are still in unchartered waters – others especially depending on travel such as airlines, hotels, tour companies, etc, pray we go through this phase faster than it is doing.…
Uganda Investment Authority’s One Stop Centre: A Catalyst For Economic Growth &Efficiency
On Thursday 3rd August 2023, the Uganda Investment Authority hosted a media breakfast meeting at the Uganda Business Facilitation Center, highlighting the invaluable role of the One Stop Centre. Distinguished attendees included Hon. Anite Evelyn, the Minister of Investment, URA Commissioner General Musinguzi Rujoki, Director General Robert Mukiza, and Chairman of the Board of Directors…
Ugandan Gov’t Finally Okays Licenced External Labour Companies To Resume Work
The government of Uganda through the Ministry of Gender, Labour and Social Development has relaxed restrictions on externalization of labor to enable companies involved in the sourcing of external employment for migrant workers abroad are to resume business. “This is to inform all licensed companies involved in the sourcing of external employment for Ugandan migrant…
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…
DETAILS: What You Didn’t Know About The UK Court Ruling That Will See Tycoon Sudhir Pocket More UGX795 Bn In The Dfcu-Crane Bank Case
City Tycoon and Banking Mogul Dr Sudhir Ruparelia, together with six (6) other stakeholders of the now-defunct Crane Bank are set to pocket billions after a major victory against DFCU Bank in an England court. The other appellants are; Jyotsna Ruparelia (Sudhir’s wife), Meera Ruparelia, Rajiv Ruparelia, Tom Mugenga and Sheena Ruparelia. The sixth appellant…
