President Museveni said that in determining the best way forward to revive the fortunes of the economy in the early years of the National Resistance Movement-NRM government, he usually took advice from Mutebile who was then a director at the Ministry of Finance and later permanent secretary.
Read more ...A total of 714,702 candidates passed the examinations compared to 659,910 from the previous year, meaning that overall, more pupils qualify to join the post-primary institutions this year. More than two-thirds of the candidate was from Universal Primary Education schools, according to UNEB.
Read more ...In December 2022, the local currency traded at an average of 3,688.16 shillings to a dollar, compared to 3,760.23 shillings in November 2022.
Read more ...“The rigs used in exploration are small and are meant to extract small volumes of crude for testing purposes, they can easily be dismantled and moved from well to well,” says Gloria Sebikari, Manager of Corporate Affairs at the Petroleum Authority of Uganda.
Read more ...On the allegations of state officials getting money from the fund, Ayota said all manner of people and institutions try to but procedure and law can't allow them to succeed.
Read more ...The presence of oil deposits in Uganda was first confirmed in the 1920s when the British colonial government decided to confirm claims by the locals of a laminating substance near the lake. Early records show that the people of Kibiro, now in Hoima District, and surrounding areas in the Lake Albert basin, were already using the crude that was seeping from the ground.
Read more ...“We know that over 70 percent of the 17.9 trillion is already invested in Government of Uganda Papers and hence has been availed for the National Development Plan (NDP). The executive (government) should explain what that money has and is doing,” Economist and University Lecturer, Dr. Fred Muhumuza says.
Read more ...The shareholders have petitioned the government and the Bank of Uganda for clarity on whether BOU closed the Co-operative Bank that had been registered under the 1961 Cooperative Societies Statute or the one registered under the Companies Act in 1997, without de-registering one yet the two banks carry the same name.
Read more ...“The pooling of money generally creates greater buying power so investors are able to invest in a wider range of investments than would be possible for most individual investors, while each investor in a fund owns units or shares which represent a part of a fund’s portfolio holdings,” says Standard Chartered.
Read more ...According to the records available, the Co-operative Bank was registered in 1964 under the Cooperatives Act and has never been liquidated or abolished.
Read more ...The Minister for Energy and Mineral Development, Ruth Nankabirwa says that the Final Investment Decision for the refinery will be made by June this year so that the project is ready by the 2025 oil production deadline.
Read more ...The policy developed by the Ministry of ICT and National Guidance aims to guide the operations of investors and workers in the Business Process Outsourcing industry, as well as provide a suitable work and business environment.
Read more ...ICPAU and the National Council for Higher Education, have completed the development of the Uganda Accountancy Qualification Framework as a subset for the Uganda Higher Qualifications Framework, which will help universities and ably equate accountancy levels.
Read more ...Currently, the available EA Standard (EAS 159:2000) is outdated and does not take into account modern automotive technologies and is therefore under review “to provide minimum requirements relevant to changing technological developments and consumer expectations.”
Read more ...“The Ugandan authorities have managed to preserve macroeconomic stability while sustaining the post-COVID-19 recovery despite rising pressure from global shocks and successive domestic shocks, including new public health challenges,” says Bo Li, Deputy Managing Director at IMF.
Read more ...Dr Mathuki says that last year six barriers were abolished and hopes that this and other factors like using the Identity Card for travel, would help raise the level of intra-regional trade in East Africa to at least 40% over the next five years.
Read more ...Currently, there are seven Primary Dealers; ABSA Bank, Bank of Baroda, Centenary Bank, DFCU Bank, Housing Finance Bank, Stanbic Bank, and Standard Chartered Bank, which transact with the BOU on behalf of their clients.
Read more ...This comes as the cost of sugar continues to rise, now going for between 5,000 and 6,000 Shillings a kilogram, up from 3,800 six months ago. On bulk purchase, a 50-kilogram bag went up from 150,000 Shillings to 217,000 Shillings, leaving retailers with no option but to hike the cost to the consumer.
Read more ...In July last year, Mogadishu made an official bid official for the third time after failed attempts in 2012 and 2017 during the first tenure of Hassan Sheikh Mohamud as president. On both occasions, the issue of insecurity and political instability was the main reason for its rejection.
Read more ...Israel Arinaitwe, Stanbic Bank’s Head of Consumer Banking, says the effects of the high CBR started being felt towards the end of the year but hopes that as inflation slows down, lending the Rate will also fall and banks will lower theirs too.
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