Breaking News
‘Is NMS Full Of Crooks?’-National Medical Stores Cited In Mismanagement of Procurement, Inflating Prices of Health Supplies
Members of parliament on the Public Accounts Committee (PAC) have pinned the National Medical Stores (NMS) over mismanagement of procurements and distribution of health supplies and drugs. This was revealed after the Auditor General’s report on the Health Sector for year ended 30 June 2018 that pinned NMS for overcharging Government hospitals and health units.…
Victoria University’ Students Given Excellence Tips During Ongoing Orientation Week
Uganda’s leading private institution, Victoria University in Kampala has officially reopened for the new academic year by teeing off the traditional orientation week with a number of activities throughout the week. Hundreds of students who freshly joined the Jinja Road based University are treated to an array of wisdom from different experts and personalities during…
Big Story: Bank Of Uganda Withdraws Appeal Against Sudhir In Crane Bank Saga, Accepts To Pay Costs!
The Bank of Uganda (BoU) has decided to withdraw a Supreme Court appeal that was contesting the Court of Appeal’s dismissal of the case it filed on behalf of Crane Bank Ltd (in Receivership) vs. Sudhir Ruparelia and Meera Investments Ltd. In a September 15 notice of withdrawal, the Supreme Court Registrar indicates that BoU…
Andrew Mwenda: Impunity And Corruption At Bank Of Uganda
By Andrew M. Mwenda Last week, Bank of Uganda (BOU) issued a press statement in which it promised to appeal a ruling by the Court of Appeal in a case against businessman Sudhir Ruparelia over Crane Bank. Yet the statement did not deal with the reason why the court rejected all the grounds of appeal…
News
Total Sues Ex-employees Over Shs7.5 Billion Fraud
Total consortium in Uganda has sued its former senior employees for using illicit measures to attain wealth, which cost the company Shs7.5 billion. Total Uganda Limited which deals in fuel and lubricants, contends that former employees adulterated their contractual duties through false entries, leading to a colossal loss of Shs7.5 billion, through deceitful misrepresentation, by…
What Next For Sudhir & Staggering BoU, Two Months after Landmark Ruling in Crane Bank case
The decision by the Supreme Court of Uganda that Crane Bank Ltd reverts to owners Sudhir Ruparelia and co-shareholders raised public excitement, for various reasons, including an assumed return of the bank into the banking industry. There were concerns about the financial implications of the decision on the national Treasury and on Ugandans generally, while…
Just In: Total Buys Entire Tullow Uganda Interests In Lake Albert Oil Project
Total and Tullow have entered into an Agreement, through which Total shall acquire Tullow’s entire interests in Uganda Lake Albert development project including the East African Crude Oil Pipeline. The overall consideration paid by Total to Tullow will be $575M, with an initial payment of $500M at closing and $75M when the partners take the…
OP-ED: Employ Benefits Like NSSF Can Make Your Business Resilient In Post Covid
By Ben Ssebuguzi Kampala: As business executives are scampering to cut costs in order to stay clear of the COVID-19 economic effects, some are making grave mistakes of evading retirement savings for their employees which makes them demotivated at workplaces hence less productivity. Employee motivation is defined as the level of energy, commitment, persistence, and…
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…
Red Flag! Deputy Speaker Anita Among Orders COSASE To Probe Scandalous UMEME As Concession Renewal Fuels Doubt
The Deputy Speaker of Parliament Rt. Hon. Annet Anita Among has directed the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) to investigate scandalous UMEME’s conduct and present a report on the findings as soon as possible. Among, via her official Twitter handle on Tuesday said, “I am directing COSASE to investigate the conduct…
