Uganda Development Bank to receive Extra shs100b
Uganda Development Bank The finance committee also revealed that in the next financial year (2020/2021), Uganda Development Bank (UDB) will be allocated an...
Bank of Uganda in Spotlight over shs460b capitalization request
MPs on Parliament’s finance committee have questioned another planned recapitalization of Bank of Uganda (BOU) with sh480b.
The MPs raised the matter yesterday during...
Gov’t to borrow shs2 Trillion to finance deficit budget
The government yesterday presented before Parliament for approval a euros 600 million (about sh2.4 trillion) loan request, to finance the 2019/2020 budget deficit....
UPDF Senior officers duped billions in Crypto-Currency
Over 100 people, including senior army officers, have filed complaints with the Police accusing a local company dealing in cryptocurrency of fleecing them billions...
Full Details: How Balaam is set to lose shs18 Billion property to South...
Businessman and events organizer Balaam Barugahara has accused South Sudan military officer Gen. Apollo Richard Kashif of frustrating his sh18.7b investment in the capital...
Ugandan-Made Kayoola Bus ready to hit the market
What started as a students’ idea at Makerere University is finally set to become a national pride.
As we celebrate the building of the...
Uganda’s National Economy Grows to shs122.7 Trillion
Ugandans are moving closer to the middle income status, the rebased Gross Domestic Product (GDP) figures by the Uganda Bureau of Statistics (UBOS), indicate....
Customers of DFCU in panic as their Bank exits fraudulently acquired Sudhir properties
The embattled DFCU Bank has conceded and has decided to vacate all the branches owned by Meera Investments Limited, which is part of the...
MUK student commits suicide after losing Tuition to Crypto Currency scammers
Police in Kampala have revealed that the Makerere University student, who was found dead in his hostel room, committed suicide after losing his investments...
Museveni tips Youths on how to get rich on his regime
President Yoweri Museveni has implored the youth to acquire entrepreneurial skills for job opportunities in commercial agriculture, industries, services, and information & communication technology...
“No stealing Oil money, it’s for all Ugandans”-Museveni assures Ugandans
Uganda’s earnings from oil and gas will be used strictly for the establishment of critical infrastructure to drive the economy, President Yoweri Museveni has...
Magufuli advises Museveni to sack URA officials to continue with Oil pipeline
President Yoweri Museveni and his Tanzanian counterpart,
John Pombe Magufuli, disagreed Friday on the East African Crude Oil Pipeline
(EACOP) Project, whose future hangs in balance...
BoU issues new tough rules to curb on Internal money theft
Bank of Uganda (BOU) has issued new tough rules after an internal investigation revealed a theft of old currency at its Mbale branch.
Dr...
35% of Umeme electricity meters cheat consumers — UNBS
Research by the Uganda National Bureau of Standards (UNBS) has revealed that 35% of the electricity meters used by industrialists and large commercial set-ups...
Middle East Boss held by Police over fraud and Human Trafficking
Police are holding managers of labour exporting company – Middle East Consultancy – over allegations of fleecing people of large sums of money, purporting...
Temangalo Land comes back to haunt NSSF and Amos Nzeyi
To resolve the mystery shrouding ownership of the controversial National Social Security Fund (NSSF) Temangalo land in Wakiso district, MPs have called for a...
Government to Tax NSSF savings and Retirement benefits
The government has tabled to Parliament amendments to the law governing the National Social Security Fund (NSSF), seeking, among others, to compel all workers...
Government loosens requirements for acquiring Youth Livelihood Fund
Cabinet has approved changes to ease access to Youth Livelihood Programme (YLP) funds, lawmakers sitting on Public Accounts Committee of Parliament heard yesterday.
The...
Museveni reveals why Uganda has not yet developed to ‘His Desired Standard’
President Yoweri Museveni has said the journey to develop and transform Uganda has taken longer than it should due to lack of consensus...
Govt planning to ban private ownership of Taxis in Uganda
In a bid to streamline public transport, the Government has
introduced laws that will ban individuals from directly owning and operating
public vehicles.
According to the...
Gov’t loses Gold exports worthy 62Billions
The Government is counting losses to a tune of about sh62b
($16.95m) in royalties from gold exports from Uganda, according to a new audit
report. An...
Gen. Katumba -“Borrowing money by govt is healthy”
The act of the Government borrowing to finance
infrastructure development is aimed at economic development, the Minister of
State for Works, Gen. Katumba Wamala, has said....
Museveni gives his Final verdict on the UTL Saga
President Yoweri Museveni has said any decision involving
the process of identifying a suitable investor in the effort to revamp Uganda
Telecom (UTL) should be made...
“Suffer Alone, Don’t drag me into UTL saga,” Finance Minister Ajedra tells Anite
The state minister for finance in charge of general duties, Gabriel Ajedra, has distanced himself from the saga surrounding the management of Uganda Telecom...
The government gives 60 ICT innovators sh6b
Many residents of Kampala who have farms upcountry often
worry about the health and safety of their herds. Such worries will soon be
addressed with a...
Rwanda & Uganda in high-level talks over trade and Rebels
High-level talks to resolve the row between Uganda and Rwanda are going on with the key principals President Yoweri Museveni and his Rwandan counterpart,...
300 million tonnes of iron ore deposits confirmed in Uganda
The government has confirmed the existence of 300 million tonnes of iron ore, a strategic mineral needed for the development of the steel industry....
Ofwono Opondo says investigation is not about 90 billion extra money but on who...
Government Spokesperson Ofwono Opondo has dismissed a report that the ongoing investigation into a procurement scam involving the Central Bank involves the printing of...
BoU Saga: Gov’t & BoU to print New Ugandan currency
Members of parliament have advised the government to embark on the printing of a new currency in order to save the image of the...
Summary: Pros & Cons of yesterdays budget
When talking about this budget, it is important not to
underlook certain things that are fundamental to the performance of our
economy.
For instance, the Auditor...
“No president has developed Uganda as I have developed it during my presidency” -Museveni
President Museveni has urges Ugandans to disregard opposition members pleas that Ugandan economy is collapsing and revealed that actually its gaining momentum.
"Despite being...
Parliament approves sh40.4 trillion for 2019/2020 budget
After a long budgeting process, Parliament yesterday passed the 2019/2020 national budget totaling sh40.4 trillion, up from sh32.7 trillion for the 2018/2019 financial year....
Alliance Global closed down over increased fraudulent
Security in Mbarara district has closed the operations of Alliance Global which is said to be a Ponzi scheme, for allegedly fleecing people of...
Business owners more important than politicians, says Museveni
President Yoweri Museveni has said the strength of the
country to grow does not lie with either politicians, religious or traditional
leaders but rather the business...
SHOCK!! Rwanda sends back trucks loaded with Ugandan goods
Three Ugandan cargo trailers that have been held up in
Rwanda since early last month have been sent back to Kampala with the cargo on
board....
Finance ministry bosses who ate sh1b bribe have been jailed
Two officials of the Ministry of Finance, Planning and
Economic Development have been convicted of corruption offences and sentenced
to two years’ imprisonment.
Justice Lawrence Gidudu,...
Government to give Youths & women shs10M, here is how to apply
The Government will increase the operational funds for youth
and women groups, the Minister of Gender, Labour and Social Development, Janat
Mukwaya, has said.
“We have...
URA’s shs13B system fails to track shs266B missing revenue
Two years after the launch of the Electronic Cargo Tracking
System (ECTS), which cost tax payers billions of shillings, the Uganda Revenue
Authority (URA) is under...
Uganda Airlines flights start in July
The revamped Uganda Airlines will start regional flights in
July, about three months after delivery of two Bombardier CRJ900 jets, works
minister Monica Ntege Azuba has...
More Oil wells have been discovered in Elgon region
Oil seeps have been encountered in the Elgon region,
indicating the potential existence of commercial quantities of oil and gas in
northeastern Uganda. Honey Malinga, the...
