Shocking details have emerged of why Nile Basin heads of state summit hosted by President Museveni ended on Thursday with no clear deal on how the countries are to share the waters of River Nile. We have learnt from our sources at State House that a new Egyptian proposal could have
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Many start-ups fail to grow due to limited capital. And many that seek to expand using bank loans don’t qualify because they lack security. However, in developed countries, small private businesses have expanded using equity funding and venture capital. Equity financing is the process of raising capital through the sale
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Uganda’s Ministry of Finance, Planning and Economic Development continues to generate controversial news of late. The latest is that the ministry spent Shs44.76bn on ghost law firms. An Audit Report by the Auditor General, John Muwanga, reveals that Finance Ministry led by the Secretary to Treasury, Keith Muhakanizi made payments
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President Yoweri Museveni made a big mistake to reward 42 officials a Shs6bn Presidential ‘handshake’, a report by Committee on Statutory Authorities and State Enterprises (COSASE) on the matter has said. The 42 officials were controversially awarded Shs6bn after their participation in a court case involving Uganda and Heritage Oil
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By Godfrey Kenneth Gobba Most people acquire property either by saving up enough money to buy it or by using banks money to buy it. Those that choose to borrow money from the bank know that coming up with collateral is definitely not easy. But what if there was a
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By Katusiime Kellen Nakumatt’s financial troubles appear to have deepened last month with cash-flow problems delaying payment of salaries for more than two weeks. Kenya’s largest retail chain, which runs the highest number of outlets in East Africa, had by Monday not paid 1,555 employees their May salaries and had
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By Patrick Mweheire, Chief Executive Officer, Stanbic Bank Uganda The 2017/18 National Budget delivered on the 8th June 2017, might have left many Ugandans apprehensive about the state of the economyand curious about some of policy levers the Government is using to uplift the real economy and get the country growing again.
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Brexit Secretary David Davis has said he is entering negotiations on the UK's exit from the EU in a "positive and constructive" frame of mind. As he began talks in Brussels, he said he was determined to build a "strong and special partnership" with the EU. The last few months
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Commercial banks play a big role in the economic development of a country-for they offer the much needed credit to not only the private sector, but also government. In this article, Business Focus brings Uganda’s leading banks in as far as lending is concerned. These figures are derived from financial
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By Godfrey Kenneth Gobba Since time immemorial we have been conditioned to believe that saving is a safe, responsible and intelligent way to manage our money. We have been duped into believing that developing a savings culture is the best way to financial freedom. But what if saving money is
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