Former directors and shareholders of the defunct Global Trust Bank are seeking 315.7 billion shillings in compensation for the illegal closure of the Bank. They are demanding full compensation equal to the direct cash equity investments of US Dollars 35.3 million with interest at the rate of 10 per cent
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The United States is rethinking its role in U.N. peacekeeping missions across Africa, with White House National Security Adviser John Bolton and Defense Secretary Jim Mattis looking to place U.S. forces and resources elsewhere. When Bolton outlined the administration's new Africa policy Thursday, he announced the U.S. would no longer
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Uganda has received a grant of sh16 billion to boost exports of coffee and cocoa to the European Union and other global markets. Finance minister Matia Kasaija and the EU head of delegation Attilio Pacifici signed the financing grant agreement this morning in Kampala. The grant for a project
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Jennifer Musisi Friday morning officially exited Kampala Capital City Authority (KCCA) as Executive Director. She handed over the office of KCCA Executive Director to The Minister for Kampala Beti Kamya at City Hall. Among documents given to Kamya included 13 bank accounts worth over Shs113bn. Musisi revealed that when she
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The US has accused China and Russia of using "opaque" and "corrupt" practices to expand their influence in Africa. US National Security Adviser John Bolton said the two nations were "deliberately and aggressively" attempting to gain an economic advantage over the US on the continent. He said the Trump administration's
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A number of Members of Parliament (MPs) on the Committee of Commissions, Statutory Authority and State Enterprises (COSASE) have disagreed with Committee Chairperson, Abdu Katuntu over the wealth of Bank of Uganda Deputy Governor Dr. Louis Kasekende (in featured photo) and former Executive Director in charge of Supervision Justine Bagyenda.
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Ten days ahead of long-awaited presidential elections in the Democratic Republic of Congo, a fire broke out in an electoral commission building in the capital, Kinshasa. It was unclear whether any electoral material was damaged. The electoral commission says they are working to determine the cause and extent of the
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President Yoweri Museveni has said that democracy begins with dialogue and that anyone who calls himself or herself a democrat, should support dialogue or miss out on the opportunity to be clearly understood and influence opponents to his or her side. President Museveni made the remarks during the Inter Party
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Kampala Capital City Minister, Beti Kamya has warned that street vendors hoping to take advantage of the festive season and flood the streets will be arrested. Kamya issued this warning in a statement on Thursday adding that religious leaders who pollute the city with noise during this festive season will
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Bank of Uganda (BoU) woes continues to deepen. The latest is that owners of Global Trust Bank (GTB) are demanding for over Shs316.5bn the Central Bank over what they call malicious and illegal closure of their bank. The plea was made by the five member team of former owners of
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