Uganda's President, Yoweri Museveni has said Accounting Officers and Auditor are to blame for the rampamt corruption in the country. The president made these remarks on Thursday during the 12th Annual National Internal Audit conference today at Speke Resort, Munyonyo. "So when we talk about misappropriation of funds it is mainly
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The Tony Elumelu Foundation (TEF) recently selected Vendor Capital Finance Limited, a brainchild of Anne Hope Anguyo among Africa’s 1,000 growing enterprises to watch in the Financial Services category. After making to the list, Anguyo will receive seed capital worth US$10,000 (about Shs35m) in addition to training. Business Focus had
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The National Drug Authority (NDA)’s Quality Control Laboratory has received the ISO 17025 Accreditation award for testing of male latex condoms. Uganda is the second country in East and Central Africa to receive the internationally recognized accreditation by the American ANSI-ASQ National Accreditation Board (ANAB). Fredrick Ssekyana, NDA Spokesperson
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Standard Chartered Bank Uganda Ltd (StanChart) has overcome the economic headwinds in 2016 to post an impressive Shs112.1bn net profit, up from Shs28.3bn recorded in 2016. This represents 296.1% growth. According to the bank’s audited financial results for the year ended December 2016 released on Thursday, customer deposits increased by
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By Peter Abaanaasazi “Some of us are forced to ease ourselves in the nearby bush due to lack of privacy since we share a pit latrine with boys and teachers,” Joy Kemigisa, a primary six pupil (girl) at Bulera Demonstration Primary School in Hoima Municipality, says. That is the appalling
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United Bank for Africa (UBA), Africa’s Global Bank operating in 19 African countries, has announced the promotion of 3,000 staff members, reinforcing its commitment to human capital investment and career progression despite the current challenging operating circumstances. Promotions were made across UBA’s global network. In a letter written on Monday,
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Many people have brilliant business ideas that never materialise due to limited funding. Quite often, these lack collateral and other key requirements to obtain a bank loan. However, besides banking, there are many alternative sources of financing your business. Business Focus brings you the top nine (9) alternative sources of
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Uganda’s Central Bank, the Bank of Uganda (BoU) has announced that all licensed commercial banks can henceforth have direct access to the primary market for Government security operations. This means all 24 commercial banks licensed by BoU are now eligible to open Central Securities Depository (CSD) accounts at BoU for
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Uganda’s food crisis seems to be far from over. Even the ongoing rains may not save the situation as many farmers are already counting losses, thanks to the deadly armyworms that have destroyed several farms and unstable rains in some parts of the country. Currently, many Ugandans especially in urban
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In August 2016, Kenyan President Uhuru Kenyatta signed into law a bill limiting how much interest banks can charge for loans, despite assertions by top government officials that the legislation would damage access to credit in East Africa’s biggest economy. Lawmakers in the nation, which eliminated interest-rate limits in July
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