Public backlash has forced Ministry of Finance to rescinded on its decision to settle Shs1.9bn outstanding energy bills for Fine Spinners and Nyanza Textile Mills also known as Nytil. The Ministry of Finance recently tabled a Supplementary budget of Shs33bn with part of the money meant to settle electricity bills
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Parliament has approved Kampala Capital City Authority (KCCA)’s Shs10bn supplementary budget for rehabilitation of roads across the city less than two months to the closure of the 2019/20 Financial Year. The Budget Committee was informed that KCCA was in the FY2019/20 given an indicative figure of Shs.30.5bn for road maintenance
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Traders under their umbrella body, Kampala City Traders Association (KACITA) have asked government to declare that the three months of COVID-19 induced lockdown a loss to the entire economy so that no rent obligation will be accrued to tenants. The revelation was made by KACITA Spokesperson, Issa Sekito (pictured) today
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By Peter Nyanzi In the 1830s, the British Economist William Forster Lloyd wrote an essay in which he described a phenomenon he called the ‘tragedy of the commons.’ Simply put, if a shared/common resource (for example a lake) is excessively exploited for the benefit of a few people, the benefits
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Testing of the malaria drug hydroxychloroquine as a possible treatment for coronavirus has been halted because of safety fears, the World Health Organization (WHO) says. Trials in several countries are being "temporarily" suspended as a precaution, the agency said on Monday. It comes after a recent medical study suggested the
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The Uganda Police are currently hunting for a driver who reportedly knocked dead one of their own on Tuesday. Innocent Ayesiga, a traffic police officer, was knocked dead by a reckless driver on Tuesday in Seeta. Reports reveal that the driver of a Rav4, motor vehicle number UAS 597U knocked
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The Board of Directors of Equity Group Holdings Plc, the largest bank on the Nairobi Securities Exchange by market capitalization, has withdrawn its recommendation of a Ksh. 9.5 billion (UShs336bn) dividend payout to its shareholders. The withdrawal of the dividend payout speaks to the Board’s assessment of risk, post balance
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The Health Ministry has announced 10 new COVID-19 cases from samples of May25, 2020. The total COVID-19 confirmed cases are now 222, the Ministry said. For updates and latest info about COVID-19 situation in Uganda, visithttps://bit.ly/2WKANNF “9 new cases are from the Points of Entry while 1 new case is
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The World Health Organization is worried Africa could face a "silent epidemic" if its leaders do not prioritise testing of coronavirus, an official is quoted as saying by Reuters news agency. “My first point for Africa, my first concern, is that a lack of testing is leading to a silent
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Trading at USE The COVID -19 pandemic has disrupted holding of Public listed Companies’ 2020 Annual General Meetings (AGMs) per their respective planned calendars. On 17th April 2020, Uganda Securities Exchange (USE) issued a market notice recommending interalia the deferral of scheduling AGMs which had not yet been called, postponement
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