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Tough Times For Ugandans As Central Bank Moves To Restrict Money In Circulation

On July 6, Bank of Uganda held an emergency monetary policy committee meeting and decided to increase the central bank rate (CBR) by one percentage point to 8.5%, the highest since the country got hit by COVID-19. The Bank had in June

July 13, 2022

Business

Is Sudhir’s Victory Against BoU In Crane Bank Case a Game Changer?

The controversy between Crane Bank and Bank of Uganda came to an end after businessman Sudhir Ruparelia obtaining a final Supreme court order allowing him to revert Crane bank back to its shareholders. In January 2017, Crane bank was acquired by dfcu

July 12, 2022

Crime

Sri Lankan President, PM Agree To Quit After Protesters Storm President’s Residence

Sri Lanka’s president and prime minister agreed to resign Saturday after the country’s most chaotic day in months of political turmoil, with protesters storming both officials’ homes and setting fire to one of the buildings in a rage over the nation’s severe economic

July 11, 2022

Crime

Nine Dead, Five Injured In Luwero Road Accident

Eight women and one man have died while five other people sustained serious injuries in a fatal road crash at Sinalya village in Bombo town council, about 38 kilometers into Luweero district along the Kampala-Gulu highway. The crash occurred after two vehicles

July 11, 2022

Health

Big-hearted Mogul Sudhir Ruparelia Donates Sh20m, Ambulance To Nsambya & Nsangi Rotary Clubs

Uganda’s richest man, Dr. Sudhir Ruparelia through his giving arm ‘The Ruparelia Foundation’ on Sunday, July 10th donated Shs10 million and a new ambulance worth millions to the Rotary Club of Nsangi towards the construction of a hospital. Sudhir, also the chairman

July 11, 2022

Crime

Over 400 Families Face Forceful Eviction In Hoima

More than 400 residents in Hoima are on the verge of being forcefully evicted from their ancestral land. The affected residents are from the village of Ngobye in Buraru parish, Buraru sub county. They are feuding with Neko Isingoma, a prominent businessman

July 11, 2022

Education

We Prioritize Co-curricular Activities Because It’s Part Of Learning – Kampala Parents School

Kampala Parents School continues to shine among the best schools in Uganda through its mission of leading in providing world-class education, inspiring and equipping students to be life long learners, to reach their full potential and be responsible global citizens active in shaping

July 11, 2022

Business

Explosive! Defunct Crane Bank Ghost Haunts Troubled Dfcu Again As 2021 Provisions Continue To Eat Away Shareholder Value

When Dfcu controversially bought Crane Bank Limited (CBL) in January 2017, it immediately became one of the most profitable banks in Uganda as the former owners of CBL cried for the loss of their bank. Dfcu’s Crane bank acquisition boosted its profitability

July 8, 2022

Hot Take·Uganda

Deputy Speaker Tayebwa Warns Accounting Officers Against Bribing MPs To Increase Project Funds

The Deputy Speaker of Parliament, Thomas Tayebwa has cautioned Accounting Officers of government Ministries, Departments and Agencies (MDAs) against acts of securing higher budgets than what the Finance Ministry allocates for projects by promising to give out kickbacks to legislators sitting on

July 8, 2022

Hot Take·Uganda

‘Let’s Work With Only Serious People’- PS Ggoobi Sacks Over 110 ‘Sleepy’ Accounting Officers

The Permanent Secretary for Ministry of Finance, Planning and Economic Development Ramadhan Ggoobi has kicked out of offices 110 Local Government Accounting Officers for ‘disobeying his commands.’ Ggoobi announced the above action in his letter dated 7th July 2022 stating that following

July 8, 2022

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