Value of loan approvals fell to Shs2.26 trillion in the quarter to August 2021 from Shs2.36 tn in the quarter to May 2021 as lenders exerted caution driven by lockdown measures. This is contained in the Bank of Uganda (BoU) Monetary Policy Report for October 202. The report adds that
Read More
Vivo Energy Uganda has launched a campaign to educate and empower motorists to make informed decisions about the best motor engine oils, championed by Shell’s high quality motor engine oils, Shell Helix and Shell Rimula. “Many motorists don’t have any idea what the best oil for their vehicle is.
Read More
Mogas petrol station/ courtesy photo Stanbic Bank Uganda has taken control of petroleum products distributor MOGAS, after the latter reportedly failed to pay back a three-year loan. The bank immediately put the company, whose full name is: Maestrol Oil and Gas Solutions under receivership to recover its money. Non of
Read More
A delegation from India and local tour guides pose for a photo during Gorilla tracking in Bwindi/Courtesy photo The Minister of State for Tourism, Martin Mugara has defended the proposal by Parliamentary Committee on Trade, Industry and Tourism to introduce a Tourism Development Tax. The minister was launching the parliamentary
Read More
Entebbe International Airport is undergoing expansion Uganda Civil Aviation Authority has rubbished what it termed as unsubstantiated and recycled claims addressed to various bodies, including the Public Accounts Committee on Commissions, Statutory Authorities and State Enterprises, among others by a former employee, Pascal Jabbe Osinde, whose services were terminated following a
Read More
Fuel prices have increased to a record high Fuel prices in Kampala and Uganda at large have hit a new high, with a litre of petrol going for as high as 4,450 Shillings while diesel was quoted at 3,999 Shillings at some stations on Monday. This is an increase of an average
Read More
Ronald Azairwe, the Managing Director, Pegasus Technologies Pegasus Technologies Limited, an indigenous Ugandan company, has become the fifth, company to receive a license from the Bank of Uganda to operate as a Payment Service Operator (PSO), having fulfilled the rigorous requirements of the National Payments Act, 2020 (NPS Act 2020)
Read More
Trade Union leaders Peter Werikhe on the right, Usher Owere and other COFTU and NOTU members Trade Unions want Parliament to scrap off the 0.0256% equivalent to 6 billion shillings in annual levy by Uganda Retirements Benefits Regulatory Authority (URBRA) on workers savings held by the National Social Security Fund
Read More
The Retired Justice of the Supreme Court Professor George Kanyeihamba has said if Parliament pushes throw President Yoweri Kaguta Musveni’s proposal of scrapping bail for capital offenders, it would be an affront on the constitution that must be resisted by all Ugandans. Speaking to the media today at his home
Read More
Stanbic Bank Chief Executive Anne Juuko (left) together with Dr Diana Atwine, the Permanent Secretary at the Ministry of Health signing the partnership agreements at the Ministry of Health headquarters in Kampala on Oct.18. Stanbic Bank has signed a partnership with the Ministry of Health which will see the bank offer a range of low interest loans to government health workers across the country. The loans range from personal unsecured salary loans to secured loans, mortgages, vehicle and asset financing loans (VAF), said Anne Juuko, Stanbic Bank Chief Executive at the launch of the partnership event held at the Ministry
Read More
