Whenever Kenya, East Africa’s largest economy goes to the polls, Uganda and other EAC member states suffer trade disruptions. The bloody 2007/8 elections massively disrupted business in Kenya and the East African region at large, with a number of Ugandan traders losing their merchandise worth billions. There was a shortage
Read More
Uganda's Parliament wants to investigate the operations and competencies of Bank of Uganda (BoU) in regulating the banking sector, Business Focus reveals. Nathan Nandala Mafabi, the Budadiri County West MP on Thursday afternoon moved a motion on the floor of Parliament calling for investigations into the operations of BoU and
Read More
Vincent Maali is a budding commercial farmer in newly created Kakumiro district. Two years ago, he abandoned his accounts profession to embark on farming on his daddy’s land that wasn’t properly utilized. He drew inspiration from stories of successful commercial farmers as well as his own research. Today, Maali has
Read More
The controversial collapse of Crane Bank, Uganda’s then 4th largest bank in terms of assets has been in the news since the last quarter of 2016. On October 20, 2016, the Bank of Uganda (BoU) announced that it had taken over the management of Crane Bank Ltd after the bank
Read More
Regional Supermarket chain, Nakumatt Holdings’ troubles continue to deepen every passing day, Business Focus reports. A source privy to the situation reveals that Nakumatt Uganda workers have gone four months without pay. “The situation is terribly bad. Many employees have fired themselves after realizing that the situation may take long
Read More
The Government of Uganda has distanced itself from media reports that it will take over Speke Resort Hotel Munyonyo and other properties of tycoon Sudhir Ruparelia in order to recover losses that were caused to Crane Bank. The remarks were made by Ephraim Kamuntu , the Minister of Tourism, Wildlife
Read More
On July13, 2017, the Bank of Uganda (BoU) said it had sanctioned the filing of a suit against Sudhir Ruparelia and Meera Investments Ltd to recoup funds that were fraudulently extracted from, as well as losses that were caused to Crane Bank. BoU filed a civil suit at the Commercial
Read More
Regional Supermarket chain, Nakumatt Holdings’ financial woes have reached unprecedented levels, with the regional retailer failing to attract the highly needed funding.. Business Focus has reliably learnt that the Kenyan based Supermarket is seeking a bailout from the Government of Uganda to survive the current financial storm. A source privy
Read More
Members of Parliament on the Committee on Science and Technology have explained why the National Biotechnology and Biosafety Bill 2012 should be passed into law as soon as possible. This is contained in a report on the National Biotechnology and Biosafety Bill 2012 commonly referred to as GMO (Genetically Modified
Read More
Uganda and India top the list of the fastest growing economies to 2025, at 7.7 percent annually, a latest research released by the Center for International Development at Harvard University (CID) has said. According to the report released on June 28, 2017, Uganda joins three other East African countries in
Read More
