Stories :: Category: Business and finance :: Accepted date: February 2019

Updated: 17 Feb, 04:1104:11

• Minister Cautions Masaka Market Contractor Against Substandard Works

  15 Feb 2019, 14:59 Comments 233 Views Masaka, Uganda Business and finance Local government Analysis

  Namuyangu together with technical team from the ministry and Masaka Municipal leaders conducted a site visit on Thursday to check on the progress of the construction. They were however shocked by inefficiency of the contractor. Besides the contractor being behind schedule, Namuyangu was also angry by the low human resource and technical capacity at the site and use of basic equipment among others.

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  Ezekiel Ssekweyama

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• MTN-Uganda CEO Wim Vanhelleputte Deported Top story

  14 Feb 2019, 22:29 Comments 617 Views Kampala, Uganda Business and finance Crime Breaking news

  He is the fourth employee of Ugandas telecom giant to be deported in the last one month after being declared prohibited immigrants. Without divulging into details, the deportation was confirmed by the Criminal Investigations Director Grace Akullo

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  Ahmed Wetaka

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• FIA: Real Estate Sector Prone to Money Laundering

  14 Feb 2019, 16:22 Comments 233 Views Kampala, Uganda Business and finance Report

  The FIA report revealed that money laundering risk for the sector is considered high, with overall vulnerability at 1.0 highest grading and quality of controls rated at 0.0 lowest grading.

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  Blanshe Musinguzi

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• Gaming Board to Tighten Gambling Rules

  14 Feb 2019, 14:18 Comments 303 Views Kampala, Uganda Business and finance Report

  Jonathan Kyeyune, the head of marketing and corporate communication at NGBU says the new regulations have been developed and are being reviewed by the Financial Intelligence Authority FIA. Kyeyune says the new regulations will be implemented by April.

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  Blanshe Musinguzi

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• Luweero Money Lenders Defy Directive to Obtain Licenses

  13 Feb 2019, 19:57 Comments 319 Views Luweero, Uganda Business and finance Analysis

  Sadat Kazibwe, the Manager of Kanana Associates Limited in Luweero town says that the idea of obtaining a license from UMRA is still strange since they already have a trading license issued by Luweero Town Council and another from the Magistrates Court which allows them to operate.

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  Brian Luwaga

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• L. Albert Oil Project Final Investment Decision Now Expected in June

  13 Feb 2019, 13:21 Comments 260 Views Business and finance Analysis

  The government has been banking on the Joint Venture Partners, Tullow, China National Offshore Oil Corporation-CNOOC and Total to make a Final Investment Decision with regard to the project, to unlock value in the countrys oil and gas sector.

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  Michael Wambi

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• Gaming Board Impounds Over 50 Slot Machines in Ntungamo Top story

  12 Feb 2019, 20:52 Comments 518 Views Ntungamo, Uganda Business and finance Analysis

  Leonard Ahimbisibwe, the Deputy Chief Administrative Officer Ntungamo District, advises those operating betting shops to follow the guidelines to avoid conflicting with the law.

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  Anthony Kushaba

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• Delay in SGR Project Good For Uganda Says Economist

  12 Feb 2019, 19:38 Comments 273 Views Business and finance Analysis

  He warns that the Standard Gauge Railway constructed with borrowed money is a huge white elephant in making.

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  Michael Wambi

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• Commercial Banks Embrace Agency Banking For Financial Inclusion

  12 Feb 2019, 16:34 Comments 229 Views Business and finance Analysis

  Uganda Bankers Association Chairperson, Patrick Mweheire says Agency Banking is delivering financial services to the underserved and unbanked population in the country.

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  Michael Wambi

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• Lukwago Petitions COSASE over Greenland Bank Closure

  12 Feb 2019, 16:17 Comments 251 Views Kampala, Uganda Business and finance Report

  Lukwago argues that COSASE which has been investigating closure of commercial banks ignored late Dr Suleiman Kiggundus relatives and lawyers. Kiggundu who was one of the banks co-founders and majority shareholder. Greenland Bank was Ugandas biggest indigenous private commercial bank at the time of its closure.

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  Blanshe Musinguzi

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• IMF: Uganda's Debt Likely to Exceed 50%

  12 Feb 2019, 14:38 Comments 227 Views Kampala, Uganda Business and finance Report

  Axel says though Ugandas debt to GDP ratio is projected to peak at 49.5 in the financial year 2021/22 according to government projections, the debt could surpass this set ceiling because of many government spending pressures.

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  Blanshe Musinguzi

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• Hungarians, Chinese Set to Open Up Fish Projects in Katonga, Lwera

  9 Feb 2019, 10:02 Comments 309 Views Mpigi, Uganda Agriculture Business and finance East Africa Analysis

  Dr. Rukunya says the two projects are part of governments efforts to improve the livelihood of fishing communities around Lake Victoria and other water bodies.

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  Christopher Kisekka

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• Kween, Bulambuli Clash Over Boundary

  9 Feb 2019, 07:37 Comments 270 Views Mbale, Uganda Business and finance Updates

  Tension has erupted between authorities of Bulambuli and Kween district local governments over ownership of over 10,000 acres of land located at the border between the two districts.

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  Salume Among

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• UWA: One Elephant is Killed Every Year

  8 Feb 2019, 20:56 Comments 283 Views Kampala, Uganda Business and finance Crime Tourism Report

  Data from UWA shows that in the last six years, over 18 tonnes of ivory have been seized at Entebbe international airport and other Asian airports.

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  Pamela Mawanda

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• Tourism Ministry to Support Miss Curvy Pageant

  8 Feb 2019, 18:14 Comments 352 Views Kampala, Uganda Business and finance Lifestyle Misc Report

  Citing Miss Tourism and Miss Uganda beauty pageants, Kamuntu said that the Miss Curvy contest is an initiative of the private sector and should be embraced.

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  Pamela Mawanda

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• Govt Unveils New Revolving Fund for Luweero Triangle

  8 Feb 2019, 11:31 Comments 305 Views Nakaseke, Uganda Business and finance Analysis

  The fund channeled through the Parish Community Associations PCAs model, will see each parish given 30 million Shillings to boost already existing projects and revolves. The funds revolve within the parish on an annual basis. Up to eight billion Shillings has been allocated to the scheme in its first phase.

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  Brian Luwaga

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• UMEME Disconnects Power to Mbale Municipal Offices

  7 Feb 2019, 15:46 Comments 291 Views Mbale, Uganda Business and finance Updates

  The Mbale Town Clerk, Paul Batanda blames their failure to clear the power bill on inadequate revenue collection.

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  Salume Among

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• Incoming COSASE Chair Wanted for Corruption

  7 Feb 2019, 10:56 Comments 365 Views Kampala, Uganda Business and finance Court Updates

  In April 2017, Munyagwa was sent to Luzira maximum security prison where he spent two nights for alleged failure to pay back Shillings 100M he owed John Baptist Maali.

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  Alex Otto

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• UMEME Loses UGX 900m in Northern Uganda Power Outages

  6 Feb 2019, 20:01 Comments 458 Views Lira, Uganda Business and finance Analysis

  The northern Uganda towns of Gulu, Lira and Kitgum, among others, have faced dire power outages in the recent past, mainly as a result of bush burning and vandalism. The notable affected areas by bush fire includes, Lira town, Puranga, Agweng in Lira district and Ibuje in Apac district among others.

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  Ronald Odongo

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• Kalangala Officials Attribute Inactive Fish Plants on Illegal Fishing, High Power Tarriffs

  6 Feb 2019, 14:18 Comments 379 Views Kalangala, Uganda Agriculture Business and finance Report

  Hussein Kato, a fisherman at Kisaba landing site, says they expected to use the fish handling facilities to improve the quality from the area.

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  Lubulwa Henry

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