The ongoing Shs6bn oil handshake probe by the Parliamentary Committee on Statutory Authority and State Enterprises (COSASE) continues to unearth shocking secrets. Appearing before COSASE on Thursday, Kampala Capital City Authority (KCCA) Executive Director, Jennifer Musisi shockingly revealed that she regrets taking over KCCA’s top job. Musisi was responding to a
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Troubled Uganda Telecom Ltd (UTL) needs a capital injection of US$48m (Shs172bn) if it is to survive the current storm. This was disclosed by the company management on Thursday at a press briefing held at the telecom’s head office in Kampala. Responding to Business Focus’ question on the amount needed
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A number of Ugandan companies and individuals are missing out on oil cash (even when oil starts to flow) because of failure to meet the high standards required in the oil sector. This was disclosed by Fred Kabagambe Kaliisa, the former Permanent Secretary Minister at Ministry of Energy and Mineral
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To match up with tends and competition, the Cooper Motors Corporation (CMC) Uganda Limited has opened new service centres across the country to ease access to services by its customers. The service centres are located at Comboni Vocational Institute in Gulu and Friends Motor Garage Mbale. In Mbarara, the
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MTN Uganda has launched Women in Business Awards 2017. The awards are meant to honour women especially those engaged in small to medium business. This comes at a time when the world gears to celebrate International Women’s Day scheduled for March8, 2017. According to MTN, these awards celebrate the achievements
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British global insurer AON has quit 10 African markets including Uganda, citing weak economy that can’t permit its growth. According to a February 20, 2017 statement, Capitalworks, a leading Africa focused and based private equity firm specialising in investing on the continent, is to acquire AON’s shareholding in 10 countries
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As Ugandans struggle to take in the controversial Shs6bn handshake, the Ministry of Energy seems to have been rocked with another scandal. Business Focus has established that documents showing proof of payment of oil revenues by oil companies have disappeared with no trace from the East African country’s Ministry of
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Standard Chartered Bank Group recently made changes in its top management. Herman Kasekende, the pioneer Ugandan to head Standard Charted Bank Uganda (commonly referred to as StanChart) in 100 years was moved to Standard Chartered Bank Zambia as CEO and Managing Director, ending his four and half year tenure at
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Unemployment and underemployment are undoubtedly a global problem, and it is expected to worsen given the increasing use of technology that reduces the need for human labour. In Uganda, unemployment has been described as a ‘time bomb’ given the fact that youth unemployment is estimated at over 60%. Away from
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On October 20, 2016, Uganda's Central Bank, the Bank of Uganda (BoU) announced that it had taken over the management of Crane Bank Ltd after the bank became “a significantly undercapitalized institution.” On February 27, 2017, BoU announced the takeover of the now defunct Crane Bank by dfcu. However, a
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