The Bank of Uganda (BoU) has cautioned the public against investing in Ponzi schemes. A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. BoU explains that money invested by clients is not invested in any legitimate business but used to pay
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Exim Bank Uganda has launched a 3- month bid guarantee campaign for Small and Medium Enterprises (SMEs) to allow them grow and expand their operations. The bid guarantee will not exceeding Shs1bn capital value. The campaign dubbed ‘Chap Chap’ Bids was launched on Thursday at the bank’s offices located at
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Ten teams of 21 budding African social entrepreneurs were on Wednesday selected as winners of the Resolution Social Venture Challenge at the Baobab Summit in Johannesburg. Winning teams earn a fellowship that includes seed funding, mentorship and access to a network of young global change makers to pursue impactful projects
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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
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The sixth edition of the coveted Innovation Prize for Africa (IPA) culminate on Monday with a bang as the African Innovation Foundation (AIF) awarded three more African innovators for their incredible innovations. The awards ceremony took place in Accra, Ghana. Out of the total of over 2500 applications, 10 nominees
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Uganda's Minister of Gender, Labour and Social Development, Hajat Janat Mukwaya has given Isingiro district authorities a two-day ultimatum to release funds meant for women entrepreneurship groups. The Minister, who is on a monitoring exercise of Uganda Women Entrepreneurship Programme (UWEP) and Youth Livelihood Programme (YLP) projects in the Western
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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
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John Collison, the Irish cofounder of Stripe, the payments processing company now powering many in-app purchase systems, was a few months ago proclaimed the world's youngest self-made billionaire by Forbes in its new world's richest list. Collison, 26, is two months younger than Spiegel, the cofounder of Snapchat, which went
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A KShs100 (UShs3, 461) note might not be enough to get you to work and back home if you use public transport. If anything, you would probably need more than twice that amount daily if you commute from Nairobi’s central business district to Ongata Rongai for work - a distance
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Snakes are some of the most feared creatures on earth. Biblically, a snake is an enemy to man so-much that it should be condemned to death once humans encounter it. However, Yasin Kazibwe commonly known as Mr. Cobra is a rare human being- for he has mastered the art of
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