Participants in a group photo after the workshop Between US$ 700, 000 and US$ 1 million (Shs3.72bn) is lost globally in cybercrime per hour. Isheanesu Sithole from the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) made the revelation in an exclusive interview with Business Focus on the sidelines of a recent workshop on Cyber
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Energy Minister Ruth Nankabirwa hands over the exploration license to M/S Armour Energy Uganda (SMC) Ltd official (Left) as Finance Minister, Matia Kasaija looks on The Government of Uganda has earned US$ 2 million (about Shs7.44bn) from the second oil licensing round in the Turaco Block. While issuing the Production Sharing Agreement to M/S
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A photomontage of bank Chief Executive Officers and Managing Directors Commercial banks are struggling to recover money lent out to customers. According to the recently released audited financial statements of banks for the year ended 31st December 2022 analyzed by Business Focus, total industry Non-Performing Loans (NPLs) increased to Shs1.19 trillion
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Chief Justice Alfonse Chigamoy Owiny-Dollo has asked the government to introduce coffee to the farmers in Northern Uganda in memory of Col (Rtd) Charles P. Okello Engola, the former Minister of State for Labor, Employment, and Industrial Relations. Dollo was on Saturday speaking at the burial of Engola at his
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Helicopters used by leaders to attend a political rally by the Azimio coalition at Nyamaiya Stadium, West Mugirango in Nyamira on July 1, 2022. PHOTO | ONDARI OGEGA | NMG Wealthy Kenyans and politicians will import helicopters and planes at cheaper prices after President William Ruto’s administration proposed to scrap
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By Walter Cronin This post may get a bit technical for some readers and is directed toward professional, global vegetable oil traders and those recent entrants into this space, the renewable diesel feedstock traders. Welcome. The soybean oil futures market, widely used to hedge various global vegetable oil risk inclusive
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The police have explained circumstances under which an aircraft belonging to Bar Aviation crashed on Friday afternoon. According to police, a Bar aviation aircraft with flight registration No. 5X-RBR was en route from Kajjansi to Kisoro, via Mbarara and Kihihi, carrying a total of 14 passengers. The flight successfully reached
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The East African Crude Oil project is seeking a 1.8-billion-dollar debt for construction to take off. The project has been estimated to cost between $3.5 billion and $4 billion, of which 60 percent comprises debt raising and 40 percent equity. Energy and Minerals Development Minister, Ruth Nankabirwa on Friday said
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Uganda’s third deputy Prime Minister has today witnessed the start of DigiTruck trainings in Busoga region in Jinja and also flagged off 17 students and their instructors to attend the Huawei global ICT Competitions in Shenzhen China. This project was previously launched by H.E Yoweri Kaguta Museveni on 8th March
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By Nicholas Clever Banks play a critical role in the economy by providing loans and financing to businesses and individuals. However, the downside of lending is the risk of borrowers defaulting on their loans, leading to non-performing loans (NPLs). NPLs can tie up a bank's capital, reduce its profitability, and
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