Commonwealth Development Corporation (CDC) Group, the United Kingdom’s development finance institution recently announced its decision to sell its remaining 9.97% stake in the troubled dfcu bank. The shareholding was sold to IFU, the Danish development finance institution. CDC made its first investment in DFCU in 1964 as a founding partner to the bank and has…
The government of Uganda on Friday, July 23, 2021, signed a 10-year agreement with Joint Stock Company Global Security, a Russian firm for the implementation of the intelligent transport monitoring system, a deal that will ensure all vehicles, motorcycles and boats installed with digital tracking devices, a move aimed at bolstering the security of the…
The Uganda Prisons Services has recorded its first coronavirus case in Kayiti prison, Namutumba district. Addressing a daily security briefing at Uganda Media Centre in Kampala, Frank Baine, the spokesperson of Prisons said that the case is a suspect who had previously had contact with a person who tested positive of the virus. Baine said…
Uganda’s Joshua Cheptegei lowered the 5km world record on Sunday with a time of 12 minutes 51 seconds. The 10,000m world champion made the most of perfect conditions in the second edition of this race to improve on Kenyan Rhonex Kipruto’s previous best of 13min 18sec last month in Valencia. Cheptegei took 10,000m gold at…
Government has listed priority areas to energise the economy in financial year 2020/2021 against the backdrop of widening trade deficits and local revenue gaps. In its report on the Budget Framework Paper presented by the Committee on Budget, MPs warned of a growing trade deficit. The report blames the decline on trade wars with Kenya…
The Education and Sports ministry has extended student holidays by one week for the over 20 government-aided schools that will be used to train teachers in the new lower secondary school curriculum taking effect this academic year. Under the new curriculum, emphasis will be placed on competence-based learning including the acquisition of knowledge, understanding, skills,…
Uganda Police Force has vowed to crack down all illegal and unlawful Political consultative meetings ahead of 2021 By-Elections. According to Police, they are closely monitoring the consultative meetings of the presidential aspirants who were cleared by the electoral commission to conduct their meetings a head of the 2021 general elections It should be noted…
The Uganda People Defence Force (UPDF) military Jet ranger AF302 has crashed in Gomba killing two pilots, the army has confirmed. This was revealed by the UPDF Spokesperson Brig. Richard Karemire who said a military helicopter had crashed in Gomba on Tuesday morning- killing the pilot and another crew member. “Sadly. no one is reported…
Christians at St Thomas Aquinas Sub-Parish of Kyebando, a Kampala suburb, were on Sunday morning shocked to learn about the theft of a baby whom the parents unknowingly handed over to a kidnapper during morning Mass. According to Fr Nicholas Kerebba Mumbi, the priest who presided over the Mass, Christians heard that the four-month-old baby…
Bitter and shocking revelations are still striking and ashaming the Image of the Central Bank of Uganda (BoU). Latest from credible inside sources revealed to us that Bou sold Crane Bank (CBL) and others like Global Trust Bank (GTB) without holding a board meeting and therefore, there were no minutes upon which the transactions were…
