Uganda’s President, Yoweri Kaguta Museveni (pictured above) has said while some aspects of the economy have taken a hit as a result of COVID-19 pandemic, many essential parts such as industry and agriculture have remained functional. “As such, we shall continue to avail our food resources through trade, with brotherly
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URA Commissioner General, John Rujoki Musinguzi The Tax Appeals Tribunal has ordered East African Breweries Limited (EABLi) to Uganda Revenue Authority (URA) tax worth Shs9.78bn- accrued in the period starting May, 2008 until June, 2015. EABLi, a company registered in Kenya is a wholly owned subsidiary of East African Breweries
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Minister Nabakooba The Minister of ICT & National Guidance, Judith Nabakooba has said that government is working hard to ensure key sectors such as boda bodas, arcades, saloons and places of worship are reopened. She revealed this today 12th July2020 while addressing the press. She asked Ugandans to keep calm
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Wilbrod Owor, the Uganda Bankers' Association Executive Director Commercial banks have agreed to reduce lending interest rates following threats by Bank of Uganda Governor, Prof. Emmanuel Tumusiime-Mutebile to cap interest rates if financial institutions don’t lower lending rates in tandem with the Central Bank Rate (CBR). In a statement dated
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Emmanuel Njuki will join Eskom Uganda effective August as Head of Corporate Affairs and Communications Eskom Uganda Limited (EUL), the largest generator of energy in Uganda has recruited Emmanuel Njuki as their Corporate Affairs Manager, Business Focus has exclusively reports. Njuki, who is the Head of Corporate Communications & Marketing
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The High Court has dismissed the application for a temporary injunction by 5 supermarket owners which sought to stop the roll out and operation of the Kakasa E-Invoicing solution (EFRIS) to particular tax payers on grounds that public interest should prevail over the private rights among many other reasons.The five
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The local currency traded marginally stronger against the dollar as the market witnessed very low appetite for the hard currency as economic activity remained subdued. The bid and ask quotes held at 3708/3718. The shilling interbank market remained awash with liquidity as overnight rates Hoover’s around 3% while one week
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Stephen Kaboyo, the Managing Director at Alpha Capital Partners On 7th July, BOU issued a circular to commercial banks warning them of the persistently high lending rates and indicating that if nothing is done, it could invoke section 39 of BOU act that gives the Central Bank powers in consultation
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Prof. Emmanuel Tumusiime-Mutebile, BoU Governor The Bank of Uganda (BoU) has warned banks that the Central Bank will not hesitate to take redress under statutory rate caps if commercial banks don’t reduce lending rates in tandem with the Central Bank Rate (CBR). CBR is a benchmark lending rate for commercial
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Businessman Haruna Sentongo Kampala businessman, Haruna Sentongo has pardoned his tenants of Segawa market in Kisenyi, Mengo the rent arrears for the past 3 months for which they didn't work because of the COVID-19 induced lockdown. Segawa Market accommodates 500 tenants. The young budding businessman adds that those coming in
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