Business

CAPTION: Contraband cigarettes being distroyed in Luwero. By Our reporterLUWERO – The Uganda Revenue Authority (URA) has destroyed contraband cigarettes valued at sh1.6 billion that were seized from smugglers. The destruction took place on Wednesday at Luwero Industries Limited in Nakasongola District. According to a press statement by Robert Kalumba, Assistant Commissioner for Public and Corporate […]

CAPTION: Uganda Breweries Corporate Relations Director Sheila Sabune joins farmers in testing the new sorghum threshers. (Courtsey Photo). By our reporterLIRA – Sorghum farmers in the Lango sub-region have said that the use of Uganda Breweries threshers has helped them reduce post-harvest losses and improved sorghum productivity, and production.They said this during their interaction with a […]

CAPTION: A truck carrying sugarcane at Kinyara recently. Courtsey Photo) By Our reporterPARLIAMENT – The Leader of the Opposition, Hon. Joel Ssenyonyi demands that government intervenes and regulates sugarcane prices saying that the current price of Shs98,000 per ton is too low. “The economy is liberalised and the forces of demand and supply are at play but […]

CAPTION: CEO of Standard Chartered Bank Uganda, Sanjay Rughani (Courtsey Photo).   By Our reporter KAMPALA – Standard Chartered PLC (the Group) has announced that it is exploring the potential sales of its Wealth & Retail Banking (WRB) businesses in Uganda, Botswana, and Zambia. The Group will concentrate its resources in these markets on serving the […]

CAPTION: CEOs and Senior Management of various institutions during the  2024 CEO Apprenticeship Program (CAP) graduation at Four Points by Sheraton in Kampala. (Courtsey Photo)   By Our reporter KAMPALA – A cohort of executives celebrated their graduation from the CEO Apprenticeship Program (CAP), marking the completion of a transformative expedition that has reshaped how they […]

CAPTION: Hon. Ssenyonyi presents a copy of a newspaper with reports on the hacking of the BOU accounts. (Courtsey Photo). By Our ReporterPARLIAMENT – The Minister of State for Finance, Planning and Economic Development (General Duties), Hon. Henry Musasizi has told Parliament that investigations are underway following the alleged hacking of Bank of Uganda (BOU) systems […]

CAPTION: Minister Baryomunsi before parliament.By Our reporter,PARLIAMENT – The Minister for Information, Communication, Technology and National Guidance, Hon. Chris Baryomunsi has unveiled government plans to extend internet connectivity to all sub-counties through a loan acquired from the Exim Bank of China.Baryomunsi said that with the US$150 million, government will go beyond its ministries, departments, agencies […]

CAPTION: Teso residents listen to President Yoweri Museveni Wednesday November 20th while addressing the people of Teso during a public rally in Kaberamaido District. (PPU Photo) By Stephen Wandera OumaKABERAMAIDO – President Yoweri Kaguta Museveni has reiterated his call to the people of Teso sub region to embrace commercial agriculture with “ekibaro”, as one of the […]

CAPTION: Uganda’s Queen Elizabeth Park is home to many pods of hippo. (Courtsey Photo)By Our reporterKAMPALA – Deputy Speaker, Thomas Tayebwa has pledged enhanced government commitment to Uganda’s tourism sector vowing increased funding and prioritisation to transform it into a key economic driver. Speaking as the chief guest at the Ekkula Sustainable Tourism Awards 2024 held […]

CAPTION: Steven Kaboyo,(C), Czech Republic Consul to Uganda, Daniel Maiyeka,(front row 2nd L), Managing Director TotalEnergies Uganda, pose for a photo with other TotalEnergies staff during the launch of the rubia lubricant oils.(Courtsey Photo)   By Priscilla Najjuma KAMPALA – TotalEnergies Marketing Uganda has launched reformulated cutting-edge Rubia engine lubricant oils, aligning with Uganda’s revised […]

CAPTION: Tayebwa Speaking at the Association of Chartered Certified Accountants (ACCA) Uganda Members’ Convention 2024 at Munyonyo Commonwealth Resort on Wednesday,13 November 2024. By Our reporterMUNYONYO – The Deputy Speaker of Parliament, Thomas Tayebwa, has called on Uganda’s accounting professionals to lead the charge against corruption by upholding integrity and transparency in their financial practices.Speaking at […]

CAPTION: WSACCO’s Head of Human Resource and Administration, Lt Col Wesley Aine adress Junior Non-Commissioned Officers in Kiwatule.  By Our reporterKIWATULE – Wazalendo Savings and Credit Cooperative Society (WSACCO) recently welcomed 400 Junior Non-Commissioned Officers (JNCOs) for a study tour at its Kiwatule headquarters.These officers, currently enrolled in a four-month leadership course at Hima Training School […]

KAMPALA – The High Court in Kampala has quashed key findings and recommendations made by Parliament’s Select Committee on the National Social Security Fund (NSSF), among others the prosecution of the Fund’s Chief Finance Officer Stevens Mwanje.The Civil Division Judge Musa SSekaana in his October 31st 2024 decision nullified the March 9th 2023 recommendations by […]

Henry Musasizi, the Minister of State for Finance, Planning and Economic Development in charge of General Duties (with microphone) launches the “Tax Crimes and Proceeds Risk Assessment Report, 2024” at Kampala Sheraton Hotel on Oct. 24. COURTESY PHOTO/FINANCIAL INTELLIGENCE AUTHORITY.Looking to tough, new compliance, enforcementKAMPALA – Value Added Tax (VAT) fraud is the most prevalent tax […]

KAMPALA – Members of Parliament on the Finance Committee have called upon Ugandan manufacturers to adhere to the country’s taxation regime, particularly regarding Digital Tax Stamps (DTS). The call came during a recent meeting with representatives from the Private Sector Foundation Uganda (PSFU), who raised concerns about the impact of DTS on the manufacturing sector. […]

By Our reporterKAMPALA – The government is to make ten million new electricity connections through both grid and off-grid, to achieve universal access to electricity by 2030.Speaking at the Power Forum held on October 30, 2024, at Mestil Hotel in Kampala, the Ministry’s Permanent Secretary, Eng. Irene Pauline Bateebe emphasized the need for innovative approaches to […]

CAPTION: Centenary Bank’s Managing Director, Fabian Kasi, (2nd right) exchanges documents with the Regional Director Africa, Water.Org Francis Musinguzi, (2nd left) in Kampala October 30th 22024.   By Our reporter KAMPALA – Centenary Bank has entered into partnership with Water.org aimed at developing a water supply and sanitation (WASH) program for a wash loan product […]

CAPTION: Businessman Sudhir Ruparelia   By Our reporter The purpose of depositing the security of costs by Crane Bank and its shareholders was that in case they lost the ongoing case in London of about Shs825b, there would be a fallback. The High Court of Justice Business and Property of England and Wales King’s Bench […]

PARLIAMENT – The Leader of the Opposition (LOP), Hon. Joel Ssenyonyi has raised concerns over the government’s Shs723.4 billion investment in Dei BioPharma Ltd, a private pharmaceutical firm.Ssenyonyi who presented a report following an oversight visit to the firm, called for greater accountability and transparency regarding the use of taxpayers’ money in the pharmaceutical company, […]

By Our reporterKAMPALA – The Head of the State House Investors Protection Unit (SHIPU), Col. Edith Nakalema has urged miners to protect and promote the sector in order for the country’s economic growth, industrialization, job creation and increased foreign exchange. “Today’s meeting is a pivotal moment for Uganda’s mining sector. Together, we have the opportunity to […]

By Patra AmitoKAMPALA – Airtel Mobile Commerce Uganda Limited (AMCUL) has finalized the three-month nationwide rewards campaign, Vroomula Amajja, a transformative initiative designed to reward Airtel Money customers and agents while promoting the shift towards a cashless economy in Uganda.Launched in July, the Vroomula Amajja campaign was unveiled to appreciate Airtel customers’ loyalty and promote […]

By Our reporterKAMPALA – Financial institution managers have been advised to develop data management fame work policies to mitigate risk against losses to boost businesses. According to Mrs Solomy Nassejje Luyombo, General Manager of Human Resources, Centenary Bank, data management is now considered as an ‘oil’ to fuel company growth.“We collect a lot of information from our […]

By Our reporterPARLIAMENT – The Public Accounts Committee on Commissions, Statutory Authorities, and State Enterprises (PAC-COSASE) has raised concerns over the mismanagement of salary payrolls across various government ministries and departments.The queries were contained in a report presented to the House during a plenary session chaired by Speaker Among on Thursday, 17 October 2024.According to […]

By Our reporterPARLIAMENT – The Public Accounts Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has expressed concerns about the growing competition faced by Uganda Posta Limited (Posta Uganda) from unlicensed courier companies.These concerns were raised during the debate on the Committee Report on the Report of the Auditor General on the Financial Statements […]

By Our reporter PARLIAMENT – Uganda’s coffee exports to the European Union (EU) will not be affected by the December 2024 deadline of the EU Deforestation-free Regulation (EUDR) policy, Minister of State for Finance, Planning and Economic Development (General Duties), Hon. Henry Musasizi has said. On 05 December 2022, the EU approved the EUDR policy […]

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PARLIAMENT – The Uganda Revenue Authority (URA) registered a 13 percent growth in Value Added Tax (VAT) in the year ended 30 June 2023.This is contained in a report of the Public Accounts Committee on Commissions Statutory Authorities and State Enterprises (COSASE) which observed that the growth was largely driven by local production of goods […]

KAMPALA – Uganda Wildlife Authority has launched the Open Park Days initiative, set to take place on October 17th and 18th, 2024. The initiative was announced by UWA’s Director of Tourism and Business Development Mr. Stephen Masaba on behalf of the Executive Director on Monday, October 1st, 2024. The Open Park Days initiative offers all […]

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By Our reporterKAMPALA – Uganda Money Lenders Association has embarked an operation to weed out unregistered money lenders they claim have tainted the business.The drive follows President Yoweri Museveni’ directive to the Attorney General to ensure that specific laws are introduced to criminalize the errant money lenders.  During his State of the Nation address and […]

ENTEBBE – President Yoweri Kaguta Museveni who is also Commander-in-Chief of the Uganda Peoples’ Defence Forces (UPDF), has advised retired generals to invest their retirement packages in lasting assets and resist the temptation to squander their hard-earned funds.” That retirement package is very good for you, do not gamble,” the President urged during a retirement […]

MBUYA – Maj Gen Bob Ogiki, Joint Staff Policy and Planning in the Uganda Peoples’ Defence Forces (UPDF), has hailed the UPDF legal team for its key contributions to the force.He singled out the teams’ development of the UPDF Establishment 2021, the UPDF Amendment Bill 2024, and establishment of Land Offices at the Division level. […]

PARLIAMENT – The Minister of State for Finance, Planning and Economic Development (General Duties), Hon. Henry Musasizi has clarified that the women’s project, Generating Growth Opportunities and Productivity for Women Enterprises (GROW) funds are loans and not grants.Musasizi said this while responding to a matter of national importance raised by Gulu City Woman Member of […]

PARLIAMENT – Energy and Mineral Development, Hon. Ruth Nankabirwa has urged Parliament to support more investment in last mile electricity connections to support Uganda’s value addition agenda.“Electricity is very critical and the limitations on distribution is a common phenomenon in the entire country, where we have the national grid passing through our constituencies but with […]

By Our reporterMBARARA – This was revealed today as His Excellency Olesegun Obasanjo, the former President of Nigeria paid a courtesy call on President Yoweri Kaguta Museveni.President Museveni also took H.E Obasanjo on a tour to Pearl Dairy Farms Limited in Mbarara City and later joined Kiruhura and Kazo farmers at Kaaro in Kiruhura District.H.E […]

By Our reporterLt Gen Kayanja Muhanga, Commander Land Force, has urged leaders of the Uganda Peoples’ Defence Forces (UPDF) and Wazalendo SACCO to protect the savings scheme from corruption following recent instances of fund mismanagement.Speaking at the conclusion of a two-day strategic retreat organised by Wazalendo’s Board of Directors, Lt Gen Kayanja highlighted the need […]

By Our reporterPARLIAMENT – The Speaker of Parliament, Anita Among, has hailed the Uganda Parliamentary Sacco for its continuous expansion following a Shs9.6 billion growth in 2024, which is a 15 percent increase from last year’s Shs8.3 billion. In a speech read on her behalf by the Minister of State for Trade, Industry and Cooperatives, Hon […]

Archbishop of the Church of Uganda[center] and members of Post Bank

PARLIAMENT – Legislators have rejected the Alcohol Control Bill, 2023 that sought to regulate the purchase, sell and consumption of alcohol.The private members Bill that was introduced for the first time by Tororo District Woman Representative, Hon. Sarah Opendi in November 2023 also aimed to regulate the time and premises where alcohol would be sold […]

BUIKWE – West International Holding (WIH) has embarked on construction of a  $200M cement factory in Njeru, Buikwe that is expected to bring down the price of Ugandan cement when it is completed in September 2025. The factory is the 2nd project after President Yoweri Museveni commissioned another plant in Moroto by the West International Holding […]

PARLIAMENT – The Uganda National Roads Authority will have to renegotiate a contract with Chongqing International Construction Corporation (CICO) for the reconstruction of Masaka-Mutukula Road and rehabilitation of several roads in Masaka District, Parliament has guided.The legislators want the China Export & Credit Insurance Corporation (Sinosure) insurance component worth Shs 38.86 billion embedded in an […]

By our reporterPARLIAMENT – The Ministry of Finance, Planning, and Economic Development is in the final stages of drafting a National Tax Policy to address some of the current economic challenges.The policy expected to become public in December, will provide a set of guidelines for the taxation of goods, services, and income as a vital […]

By our reporter PARLIAMENT – The Deputy Speaker, Thomas Tayebwa, has asked the Minister of Foreign Affairs, Jeje Odongo, to respond to allegations of the use of Uganda’s consulate in Dubai, United Arab Emirates (UAE) as a casino.  This follows media reports indicating that Uganda’s consulate building in Dubai, is being used as a covert […]

KAMPALA – The Ministry of Works and Transport has reduced the riding permit fees for cyclists. Boda Boda riders have in the past expressed concern about the exorbitant charges for acquiring the permits.The Police have on several times impounded motorcycles and arrested the riders for lack of a riding permit, and third pay insurance among […]

By Our reporterENTEBBE – President Yoweri Kaguta Museveni has met the leaders of the ghetto SACCOs in Kampala Metropolitan Area at State House Entebbe.The group included 100 ghetto youth leaders who are also the heads of the 12 ghetto SACCOs in Kampala, Wakiso and Mukono. The beneficiaries of the SACCOs are from; Rubaga Kakeeka Zone […]

Police warns striking Kampala traders By Our reporterKAMPALA Police has told striking traders to refrain from as authorities find solutions to their grievances.Traders against a proposed tax collection system have resumed their protests by shutting down their Kampala businesses from Wednesday July 31, 2024, unless President Museveni re-schedules a twice deferred meeting with the group […]

Clare Gatabi Tumwesigye, Head Marketing and Corporate Communications, Anthony Kituuka Managing Director, Elizabeth Wahito and Elliud Njogu from E & M Technologies pose a photo with ELP Scholars at Eureka Place Hotel in Ntinda.

By Our reporterKAMPALA – The National Resistance Movement (NRM) Secretary General Mr Richard Todwong has called for expanding regional markets to accommodate the increasing local production.“There has been increased production of goods among the people in the villages due to Emyooga and the Parish Development Model initiatives but limited markets and low prices remain the […]

Our reporterENTEBBE – President Yoweri Kaguta Museveni has sworn in Mr. Edward Akol as the new Auditor General in a ceremony that took place at State House Entebbe on Tuesday, July 22nd, 2024. The Head of Public Service and Secretary to Cabinet, Ms. Lucy Nakyobe Mbonye, administered the oath.Speaking shortly after the swearing-in ceremony, President Museveni congratulated Mr. Akol, before […]

Uganda Revenue Authority (URA) has destroyed 180 tons of smuggled goodsThe items that were destroyed at Luwero Industries include cosmetics, used underwear garments, beer, wines, and spirits, computers, and drugs, among others.“These items were confiscated and collected over some time, more than just one year of enforcement operations. If we were to value them, they […]

By Stephen Wandera OumaKAMPALA – The Ministry of Finance Planning and Economic Planning has plans to set up the Uganda Microfinance Development Bank (UMDB), “I have instructed the technical staff to initiate the process of starting UMDB to address the need for capital for small businesses. Uganda Development Bank Limited (UDB) only caters for big investments,” he said.Mr […]

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By Our reporterENTEBBE – President Yoweri Kaguta Museveni has welcomed a delegation of investors from Lyca Mobile Telephone Company during their courtesy visit to State House Entebbe.Led by the Chairman of the company, Mr. Subaskaran Allirajah, the delegation included the Minister of Information and Communications Technology (ICT) and National Guidance, Dr. Chris Baryomunsi, and the […]

PARLIAMENT – Legislators on the Committee on Commissions, Statutory Authorities and State Enterprises have tasked the finance ministry to present documentation on the criteria used in granting bailouts to companies in financial crises.According to the committee chairperson, Hon. Medard Sseggona, companies belonging to foreign investors have mostly benefitted from bailouts compared to companies belonging to […]

By Our reporterNKUMBA – President Yoweri Kaguta Museveni has today fulfilled his pledge of 20 new motorcycles to Boda-boda Associations in Nkumba Parish, Wakiso District. The motorcycles were delivered by the State House Comptroller, Ms. Jane Barekye in a colourful ceremony held in Bendebere Village, Nkumba.The beneficiaries included Nkumba Bufulu National Resistance Movement (NRM) Mobilizers […]

Increase excise duty on petrol by Shs 100 per liter.Increase excise duty on diesel by Shs 100 per liter.Increase excise duty on imported wines from 80 percent or Shs 8,000 per litre to 100 percent or Shs 10,000 whichever is higherWinnersShs 50 billion for Presidential Initiative on Banana Industrial DevelopmentShs 723 billion equity acquisition Dei […]

By Our Reporter RUBAGA – Beneficiaries of the Presidential Initiative on Skilling the Girl and Boy Child (PISGBC) project have been advised to use the acquired skills to develop themselves. “You must ensure that the products you make are of high standards and good quality. Even when you are modelling or showcasing your fashion designs […]

NAGURU – Police have warned the public against a new wave of fraud stars. According to Enanga Fred, Police Spokesperson the Directorate of CID is actively investigating a new racket of fraudsters behind imposter phone calls.“The impersonate masquerade as Very Important Persons (VIPs), prominent government personnel and or business persons, and billing officers at utility […]

By Our reporterKAMPALA – Uganda has beat six other nations to emerged the best investment destination in Africa. The award was handed to President Yoweri Kaguta Museveni on Monday 20th May 2024 after the recent global investor award gala dinner at the Abu Dhabi National Exhibition Centre (ADNEC) as part of the 13th edition of […]