Bank of India re-entered the Ugandan market in 2012, having first opened shop here in 1953, but following the expulsion of Asians from the country by former President Idi Amin in 1972, it sold its assets to Bank of Baroda and exited the country. It is a small bank but
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On Monday April 09, 2018, Cabinet sitting at State House Entebbe approved the Landlord -Tenant Bill, 2018. The Cabinet was chaired by President Yoweri Museveni. If passed by Parliament and assented to by the President, the Act will put a ban on rent charges in foreign currency especially the US
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In an effort to protect the health and safety of consumers and the environment, the Uganda National Bureau of Standards (UNBS) has gazetted 76 new compulsory standards, according to the latest issue of the Uganda Standards Gazette. The compulsory standards are part of the 254 standards approved by the National
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Stanbic Bank Uganda Ltd has been awarded the best performing bank in Uganda government securities for the Year 2017. And this makes Stanbic bank the winner for the sixth consecutive year. Speaking at the Annual Award Event for the Best Performing Commercial Bank of the Year in Government Securities held
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President Yoweri Museveni has challenged Western companies to take interest in helping Africa explore its resources potential, saying the continent presents immense business opportunities. "There is a lot of sleeping in Africa. You find people who should know but instead don't know," said the President. "And also there has been
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The Government has blocked Uganda Revenue Authority (URA)’s directive to banks to release all their customers’ account details to the tax body. The decision to stop URA’s move was taken at a Cabinet Meeting held On Monday 9th April, 2018 at State House Entebbe. The meeting was chaired by President
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The groundbreaking Ecobank Mobile App, a single, unified financial services application across 33 African countries, has processed 9 million transactions worth over $1 billion (Shs3.6 trillion) since launch less than 18 months ago. With over 4 million users, the Ecobank Mobile App is available to all, enabling users to open
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The Board of Directors of Bank of India has decided to continue the operations of their subsidiary, Business Focus exclusively reports. Ajah Panth, the Bank of India Uganda Managing Director revealed that the decision was taken in a Board meeting held on 20th March 2018 in India. Earlier on 19th
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Uganda’s economic growth is projected to average 6.5% in the next three years, the Bank of Uganda (BoU) has said. Releasing the Monetary Policy Statement for April 2018 at BoU had offices in Kampala on Monday, Prof. Emmanuel Tumusiime-Mutebile, the BoU Governor said that Uganda’s economy continues to recover. He
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Banks under their umbrella body Uganda Bankers Association (UBA) have rejected Uganda Revenue Authority (URA)’s directive to have them release all account details of their customers, arguing that it is unlawful. In a press statement dated April8, 2018 signed by Fabian Kasi, the UBA Chairman and Wilbrod Humphreys Owor, UBA
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