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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Bank of Uganda (BoU) officials have explained the criteria the Central Bank used to sell loans of three defunct banks at a discount. This is after they failed to table documentary evidence detailing the sale. BoU officials had appeared before the Committee of Commissions, Statutory Authorities and State Enterprises (COSASE)
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New investors in telecommunications in Uganda will have to rent capacity from existing fibre optic cables, rather than lay their own to avoid duplication and try to lower internet costs in the country, the CEO of the industry regulator Uganda Communications Commission (UCC), told news agency Reuters. "We need infrastructure
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Tanzania have a chance of securing a place at the 2019 Africa Cup of Nations if they beat Uganda Cranes early next year. However, President Yoweri Museveni has urged his boys to have no mercy for Tanzania even when they have already qualified. “Even if the Cranes have already qualified,
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Kampala Capital City Authority (KCCA) Executive Director, Jennifer Semakula Musisi has promised a better traffic flow in the city. Musisi made the remarks while unveiling the first traffic control centre in Kampala at City Hall yesterday. The centre will be monitoring traffic at 12 junctions on recently improved roads in
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dfcu bank has spoken out on media reports suggesting all is not well at the Uganda’s second largest bank by assets. In a statement issued on Tuesday 20, November 2018, Agnes Tibayeita Isharaza, the Company Secretary says the bank remains solid and committed to serving its customers. Below is a
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The 2019 shortlist for the Africa Prize for Engineering Innovation was announced yesterday in Cape Town, South Africa, recognising the most promising entrepreneurial engineers from across sub-Saharan Africa. Among the 16 shortlisted engineers, Uganda has two; Anne Rweyora, who came up with a combination of technologies that help women acquire
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Kenya’s largest bank by assets KCB last year suffered the highest staff attrition rate in five years having lost 861 employees or nearly four times the previous year’s exits, a newly released report says. KCB says in its latest sustainability report, covering 12 months to December 2017, that staff attrition
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It has emerged that Bank of Uganda (BoU) also closed International Credit Bank (ICB) without an inventory report, the Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) has learnt. Inventory simply means a list of goods and materials/properties that a business holds for the ultimate goal of resale or
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For the second year in a row the charity Water Aid has highlighted Ethiopia's poor record when it comes to access to toilets at home. On World Toilet Day, it has reported that 93%of Ethiopians lack basic sanitation where they live, making it the lowest ranked nation on the continent.
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