New revelations have emerged of legendary politician, Joash Mayanja Nkangi’s last moments before he passed away on Monday morning. Nkangi, 85, succumbed to suspected pneumonia after complaining of severe pain at Nakasero Hospital in Uganda’s capital, Kampala. Business Focus has learnt that the former Buganda Kingdom Katikiro who also served
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Embattled Makerere University don Dr. Stellla Nyanzi faces arrest over harassment, Business Focus has established. In a letter from the Criminal Investigations Directorate (CID) dated March2, 2017 addressed to Stella Nyanzi through Makerere University Vice Chancellor, Prof. John Ddumba Ssentamu, Nyanzi is wanted at CID to record a statement
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Uganda Telecom Ltd (UTL) Board Chairman Stephen Kaboyo has attacked Uganda Communications Commission Executive Director, Godfrey Mutabazi, noting that he doesn’t understand business matters. Kaboyo was on Thursday responding to Business Focus’ question on why he thinks UTL still has a future yet UCC boss late last year said no
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A month after dfcu bank acquired the assets and liabilities of Crane bank-at an undisclosed fee, it (dfcu) has announced that it has got a capital boost of US$50M (about Shs179bn). In a statement dated February 28, 2017, the bank revealed that it has concluded an agreement with Arise B.V,
Read MoreThe Uganda Shilling depreciated marginally against the US dollar mid-week as commodity flows reduced and corporate demand slightly picked up during the week ending March3, 2017. Trading was in the range of 3585/3595. In the government securities market, yields on 91 and 182 day treasury bills dropped to 11.962% and
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The Government of Uganda will on Tuesday next week release a report on the status of Uganda’s economy. This comes following media reports that the economy has collapsed given the number of companies that have gone under in past few years. Crane Bank, the then 4th largest bank by assets
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The ongoing Shs6bn oil handshake probe by the Parliamentary Committee on Statutory Authority and State Enterprises (COSASE) continues to unearth shocking secrets. Appearing before COSASE on Thursday, Kampala Capital City Authority (KCCA) Executive Director, Jennifer Musisi shockingly revealed that she regrets taking over KCCA’s top job. Musisi was responding to a
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A number of Ugandan companies and individuals are missing out on oil cash (even when oil starts to flow) because of failure to meet the high standards required in the oil sector. This was disclosed by Fred Kabagambe Kaliisa, the former Permanent Secretary Minister at Ministry of Energy and Mineral
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On October 20, 2016, Uganda's Central Bank, the Bank of Uganda (BoU) announced that it had taken over the management of Crane Bank Ltd after the bank became “a significantly undercapitalized institution.” On February 27, 2017, BoU announced the takeover of the now defunct Crane Bank by dfcu. However, a
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Applications are now open for the 2017 GrowthAfrica Acceleration Programme in Kenya and Uganda. The objective of the programme is to scale ventures, make them investment ready and to develop entrepreneurial leadership. The program targets ambitious, committed and innovative entrepreneurs. The programme invites applications from ventures that are: scalable and
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