In a shocking revelation, it has emerged that Bank of Uganda overthrew the Constitution and laws of the land and instead used United Kingdom law while selling three defunct banks. BoU officials made the revelation on Wednesday while appearing before the Committee of Commissions Statutory Authorities and State Enterprises (COSASE)
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Troubled former Executive Director in charge of Supervision at Bank of Uganda, Justine Bagyenda Wednesday stunned Parliament’s Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) when she said the MPs should ask BoU current team about the seven controversially closed banks. Bagyenda, was dropped from Financial Intelligence Authority board
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Makerere University, Uganda’s leading institution of learning has come under fire over its discriminative appointments that have seen men occupy most of the top leadership positions. And as such, the Speaker of Parliament, Rebecca Kadaga has ordered the Parliamentary Education Committee to investigate why the University has sidelined women in
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The Northern Corridor Transit and Transport Co-ordination Authority (NCTTCA) is holding a series of meetings with the governments of Democratic Republic of Congo (DRC) and Uganda to seek ways of improving the corridor in the two countries, reports Kenya based Business Daily. NCTTCA executive secretary Omae Nyarandi last week led
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The Commercial Court has pushed to next year the hearing of pending applications in the case between Bank of Uganda and city property mogul Sudhir Ruparelia over sale of Crane Bank to Dfcu Bank., URN reports. The head of the Commercial Court, David Wangutusi deferred the hearing of three applications
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More countries should educate refugees in national schools to help them integrate, the United Nations said on Tuesday, praising Chad and Uganda as poor countries setting an example. About 4 million child refugees were out of school in 2017, the U.N.’s cultural agency, UNESCO, said, which meant they not only
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Belgian renewable energy company, Tiger Power has signed an agreement with the Ugandan government to power 3000 rural households and businesses in Kyenjojo, western Uganda. The deal was inked yesterday at Hotel Africana between Uganda Rural Electrification Agency (UREA) and Tiger Power top bosses, and witnessed by Belgium's ambassador to
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Irish potatoes is one of the crops that can easily make one a millionaire-only if they do the right thing. In Uganda, Irish potato growing is increasingly becoming commercial, thanks to the growing demand resulting from the increase in townships, population and hospitality industry. For farmers looking to venture into
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The State Minister for Finance in charge of Planning, David Bahati has revealed that government’s main goal now is to make Uganda one of the fastest growing economies in Africa and the rest of the world. “.. We hope to do this after oil production starts & when Karuma &
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The Central Bank of Tanzania has said that the closure of forex exchange (forex) bureaus in the northern city of Arusha comes as a result of a six-month investigation into businesses that had been operating illegally. It found an increase in businesses operating without a licence, and some involving money
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