International firms from the British, Norwegian, and Dutch Governments have allegedly colluded with the management of dfcu bank and Bank of Uganda (BoU) as the Regulator of commercial banks to cheat the shareholders Of Crane Bank of their assets. Sources indicate that the governments of Britain, Norway and the Netherlands
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Uganda is not among the top 10 investment destinations in Africa, according to the latest Africa Investment Index 2018. Morocco is the most attractive economy for investments flowing into the African continent, according to the latest Africa Investment Index 2018 (AII) by Quantum Global’s independent research arm, Quantum Global Research
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Former Bank of Uganda (BoU) Executive Director in charge of Supervision, Justine Bagyenda is not about to stop making news. The latest is that her MTN Mobile Money account details have leaked indicating how wealthy she is. According to Bagyenda’s MTN Mobile Money account details obtained by Business Focus, she
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President Yoweri Museveni wants Ministry of Energy to look for a cheaper alternative of power distribution, a move that may see Umeme’s contract not renewed. The President is accusing the South African based company of colluding with officials from the Energy Ministry to inflate its operation costs, which trickles down
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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.” Further, on February 27, 2017, BoU announced that dfcu Bank had taken over Crane Bank. This was after
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Uganda's Inspector General of Government Irene Mulyagonja erred by insisting on investigating the operations of the Bank of Uganda, top lawyers in Uganda have revealed. Mulyagonja on Thursday said she would continue with her investigations into the appointments of top staff at the central bank following a petition to her
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The Bank of Uganda Deputy Governor, Dr. Louis Kasekende has revealed why Ugandan commercial banks have low appetite to lend to majority Ugandans (Small and Medium Enterprises) is low. “…the informal small and micro enterprises pose very different challenges for the banks. Their revenues are volatile and their long term
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By Magnus Nmonwu Cash flow problems—more money going out of the business than is coming in— are among the most significant reasons that many companies go out of business. Cash flow isn’t simply about sales or profits—it’s also about your business expenditure and your ability to collect money owing to
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A top insurance firm in Uganda is in trouble after senior agents started quitting and others stealing customers’ premiums (money paid by policy holders), Business Focus exclusively reports. ICEA (Insurance Company of East Africa) Life Assurance is the company under fire. A source privy to the rot at ICEA Life
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Bank of Uganda (BoU) Governor Emmanuel Tumusiime-Mutebile has trashed and rejected the Inspector General of Government (IGG)’s directive to the Board of Directors of the Central Bank not to endorse recent staff appointments and transfers. Lady Justice Irene Mulyagonja Kakooza, the IGG had in letters dated February 23, 2018 and
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