By Sunil Kaushal, CEO, Africa & Middle East at Standard Chartered Bank Think exponentially, not incrementally: How the rules of the game are changing in Africa’s banking sector An abundance of opportunities We are fortunate to witness a period of monumental progress in Africa. The changes are visible across
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Retail chain Uchumi Supermarkets' troubles have deepened after it was evicted from its Nairobi Industrial Area headquarters over its failure to pay millions of shillings in rent arrears, Nairobi based Business Daily reports. It has emerged that Uchumi’s top management has not accessed the premises since October 2 when the
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Legislators meeting in Geneva have voted to ban debate on the subject of Lesbian, Gay, Bisexual, and Transgender (LGBT) at the Inter Parliamentary Union ever again. The Ugandan delegation led by Speaker Rebecca Kadaga led the move against what they termed as a well-orchestrated machination led by Canada and Belgium
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The Uganda Shilling was a notch stronger supported by interbank unwinding long positions coupled with improved inflows primarily on account of portfolio flows during the week ending 19th October 2018. Trading was in the range of 3755/3765. In the interbank money market, overnight funds traded at 8% while one week
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By Michael Muhangi Uganda discovered commercial volumes of oil in the Albertine and Nile basin more than 10 years ago. At that time the exploration phase, which took 8 years, attracted an expenditure of $3 billion (Shs11 trillion) causing a lot of excitement across the divide with multinationals and big
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The State Minister for Local Government, Jeniffer Namuyangu has revealed that government needs more time to make consultations on the operationalization regional governments commonly referred to as regional tier. Appearing before Parliament’s Committee on public service and Local Government, Namuyangu said that the Ministry of Local Government is still making
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The Ugandan government has failed to find money to operationalise new 203 Town Councils and 198 Sub-Counties created across the country. This raises questions on government’s appetite to create more administrative units that are not only costly to the tax payers, but are also ineffective. Appearing before Parliament’s Committee of
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Uganda’s Vice President, Edward Kiwanuka Ssekandi has said that advising President Yoweri Museveni on how to run the country isn’t part of his constitutional duties. Ssekandi made the remarks Thursday on his Twitter handle during an engagement with his followers. The exchange started when the VP sent out a tweet
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New reports indicate that the Inspector General of Government (IGG) is now investigating several Bank of Uganda (BoU) officials over alleged illicit accumulation of wealth. With former BoU director for supervision of commercial banks Justine Bagyenda already investigated by the Financial Intelligence Authority (FIA) over allegations of illicit accumulation of
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The Embassy of Belgium in Uganda has expressed its admiration for the work done by the International Committee of the Red Cross (ICRC) in war-hit South Sudan. This happened during a visit to the young African nation by a team from the Embassy as a follow up on "the political,
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