Plans to revive Uganda Commercial Bank (UCB)are in high gear after National Planning Authority (NPA)asked Parliament to allocated it Shs3.4bn towards conducting a feasibility study on national bank. Appearing before Parliament’s Finance Committee to present the Authority’s national budget framework paper for 2020/2021, NPA Executive Director, Dr. Joseph Muvawala said
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Uganda’s Petroleum Fund has some money in it, David Bahati, the State Minister for Planning has said. The Minister last week while appearing before the Finance Committee said that the Petroleum Fund had been depleted and there was no money that would be drawn from it to support the budget
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Ugandans will be able to attain Middle Income Status by the end of 2020, David Bahati (pictured), the Minister of State for Planning has assured them. “We are making massive progress we hope and believe we would have attained middle income by end of this year. So far, we are
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Portuguese authorities said on Monday they had started investigating media reports concerning Angolan billionaire Isabel dos Santos, while a small bank said it had decided to put an end to commercial relationships with entities she controls. This was the latest fallout from increased scrutiny of Angola’s former first daughter, a
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The Uganda Police together with the Uganda Communications Commission and telecom operators conducted an operation in Kampala over the weekend in which eight suspects engaged in SIM boxing, a form of electronic fraud, were apprehended. At a press conference held at Police Headquarters Naguru on Monday, UCC’s Head of Public
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South Africa's troubled national airline, South African Airways (SAA), has cancelled some domestic and international flights to save cash, the company said on Tuesday. Some of its flights from Johannesburg to the South African cities of Cape Town and Durban, and the direct flight to Munich, Germany, were among those
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UK companies must leap at the chance to deepen economic ties with Africa, a continent with unmatched investment opportunities, several African leaders said at a high-level panel. At an oversubscribed opening ceremony for the 2020 UK-Africa Investment Summit, Monday, attended by dignitaries and delegates from 16 African countries, including President
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Pastor Joseph Serwadda (pictured), who prefers being called the Presiding Apostle of Born Again Faith Federation has called on Parliament to expedite the scrutiny and passing into law the Marriage Bill, saying it will help in silencing the people seeking to destabilize the marriage institution in the country. Serwadda’s remarks
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Financial Sector Deepening Uganda (FSDU) today welcomed a £15m (Shs71.8bn) commitment from UK Aid, part of a £320m package that will initiate an ambitious new phase of financial sector development across the continent. Announced ahead of the UK-Africa Investment Summit London, the package includes additional funding for 9 existing Financial
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A World Bank director has shocked people who held her in high esteem after she was caught in a web of racist comments on social media. Anne Namara Kabagambe, the World Bank board director supervising 22 countries in Africa has been accused of uttering racism comments against Ugandan billionaire, Sudhir
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