Economists, financial experts and key private sector players have punched holes in the Shs40.48 trillion 2019/20 National Budget, describing it as a disconnection from ordinary people as the East African country aims to achieve a lower middle income status. While exchanging views at the post budget dialogue organized by the,
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Uganda Revenue Authority (URA) has spoken out for the first time on Bank of Uganda (BoU) printing of money saga. It is alleged that BoU officials printed Shs90bn extras cash for their own use. In a statement, Dicksons C Kateshumbwa (in featured photo), the Commissioner Customs, who is also the
Read MoreJustice Musa Sekana, of the Civil Division of the High Court, has quashing the appointment of Professor William Bazeyo as the Deputy Vice Chancellor for Finance and Administration of Makerere University. The ruling on Friday follows an application filed by Professor Anthony Mugisha in November 2018 in which he
Read MoreThe Uganda shilling gained ground supported by increased inflows amid low demand as Corporates geared for mid-month tax payments during the Market week ending 14th June 2019. The ongoing investigations on Bank of Uganda (BoU) officials over printing an extra unauthorized Shs90bn didn’t affect the local unit this week as
Read MoreUganda's Central Bank Governor has revealed that he asked the State House Anti-Corruption Unit to investigate the money saga in the bank after an anomaly. Mutebile's explanation is contained in a statement issued on Friday, a day after the unit led by Lt Col Edith Nakalema raided Bank of Uganda
Read MoreThe head of the State House Anti-Corruption Unit has explained why her unit raided the Central Bank and made arrests. According to a statement issued on Friday, Lt Col Edith Nakalema explains that her unit was invited by the Bank of Uganda Governor Tumusiime Mutebile to investigate a matter involving
Read MoreUganda’s Speaker of Parliament Rebecca Kadaga has called President Yoweri Museveni to reign in on Finance Ministry officials and other ‘lazy’ ministers. This follows confusion that bogged the 2019/20budgeting process. While making her address ahead of the budget reading yesterday, Kadaga said that although the Ministry of Finance complied with
Read MoreState House Anti-Corruption Unit Raids Bank Of Uganda Over ‘Illegal Money Printing’, Billions Lost
State House Anti-Corruption Unit has raided Bank of Uganda (BoU) arresting five directors in the ongoing corruption fight in government agencies, Eagle Online reports. According to security sources, the move to arrest the five was informed by whistleblower who informed the State House Anti-Corruption Unit about loss of huge monies
Read MoreTanzania's finance minister has announced a 25% tax on all imported wigs and hair extensions and a 10% tax on those made in the country in a bid to raise more revenue. Philip Mpango announced the measures, which should come in at the beginning of next month, as part of
Read MoreA Kenya based lawyer has filed a lawsuit against Kenya Airways (KQ) for allegedly causing him embarrassment and humiliation while on a trip to Tanzania, the Standard reports. Peter Bore, who is based in Nakuru, moved to the Milimani Law Courts on Tuesday after he failed to get an apology
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