Prof. Emmanuel Tumusiime-Mutebile; a Ugandan economist, Central Bank Governor has passed on. We’ve learnt that Mutebile died in the wee hours on Sunday at Nairobi Hospital where he was battling life for a long time. Mutebile was until his death a Ugandan economist and banker. He has been the governor of the Bank of Uganda,…
The management of Tirupati Development Uganda (TDU) has dragged KCB Uganda and KCB Kenya, accusing both banks of among other misdeeds, money laundering and fraudulently debiting the company accounts under the auspices of clearing a loan of USD70,000 which they secured from the bank. Documents filed in court through their lawyers of Aegis Advocates and…
There is a general presumption and saying that capital has no home but within realistic parameters the home of capital is its place of origin because it always goes back with its profits or returns on investments. Capital holds much more value in countries like Uganda where fixed deposits have monthly interest returns of up…
The Commercial Court has ordered Simbamanyo Estates Limited and its proprietor Peter Kamya to pay Shs 1.3 billion in legal costs to Equity Bank Uganda Limited and two business firms; Meera Investments Limited and Luwaluwa Investments Limited. In the ruling, the Commercial Court Registrar, Mr Elias Kisawuzi ordered Simbamanyo and Kamya to pay Shs 600…
It is the Supreme Court that will determine the costs to be paid to city businessman Sudhir Ruparelia by Bank of Uganda (BOU) in the long-running legal battle between the tycoon and his Meera Investments Ltd and the central bank, resulting from the closure of Crane Bank Ltd. Both the High Court and the Court…
The Bank of Uganda (BoU) has granted an operating licence to I&M Bank (U) Ltd to begin operating in Uganda after changing its name from Orient Bank. The Nairobi-based financial Group announced that the rebrand comes after the I&M Group’s successful acquisition of a 90 per cent shareholding in Uganda’s Orient Bank Ltd on April,…
Recently, this website broke a story on how Bank of Uganda (BoU) wrote to the Supreme Court seeking permission to withdraw an appeal they had filed on June 23rd, 2020, against businessman Sudhir Ruparelia contesting Justice David Wangutusi’s 2019 ruling, in which he declared that BoU illegally wound up Crane Bank and sold it to…
The Speaker of Parliament, Jacob Oulanyah, has mourned former secretary and governor Bank of Uganda, Robert Elangot as a dignified public servant who rose through the ranks. “Saddened by the death of Mzee John Robert Elangot, a dignified public servant who rose through the ranks to serve as Deputy Governor of the Bank of Uganda,”…
The former Deputy Governor of the Bank of Uganda John Robert Elangot has died, according to reports. According to reports, Mzee John Robert Elangot passed on in the wee hours of 6th November 2021 in Kampala where he has been battling multiple organ failure. As an economist, John Robert Elangot served in various capacities in…
Following the Central Bank head of legal Margaret Kaggwa Kasule’s constant and deliberate refusal to sign and to be served, court documents in connection with illegal liquidation of the assets of Crane Bank while in receivership by Bank of Uganda, lawyers representing city businessman Sudhir Ruparelia have filed an application in the High Court against…
