KCB has announced that it will pay its investors an interim dividend amounting to Ksh3 billion (about UShs104.3b). This will see every shareholder get Ksh1 (UShs34.78) for each share they hold in the bank. This follows the half year financial results which saw the lender post Ksh10.26 billion (UShs356.8bn) net
Read More
The National Drug Authority (NDA) has spoken out on the 12% verification fees charged on selected imported medicines that are also locally produced in Uganda. This follows speculation and misinformation that the 12% fees were applicable to all imported medicines. According to Fredrick Ssekyana, the NDA spokesperson, the 12% fee
Read More
Embattled tycoon Sudhir Ruparelia has filed his defense on fraud related cases brought against him by the Bank of Uganda (BoU). This follows BoU’s decision to sue Sudhir, the founder and shareholder of the defunct Crane Bank and his investments firm Meera Investments Ltd on June 30 to recover about
Read More
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
