South Africa will invest $1 billion in South Sudan’s oil sector, including in the construction of a refinery, the South African minister for energy and his South Sudanese counterpart for petroleum said on Friday. South Sudan’s oil industry is dominated by Asian firms including China National Petroleum Corporation (CNPC), Malaysia’s
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The Minister of State for Finance (Planning), Hon David Bahati, has revealed that government is set to introduce a Bill that will regulate digital currencies and pyramid schemes. “In October, Cabinet approved the National Payment System Bill. We intend to bring it to Parliament next month so that it caters
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The Uganda shilling firmed slightly on the back of forex inflows mainly from portfolio investors targeting the local debt market during the week ending 23rd November 2018. Demand was generally flat. Trading was in the range of 3712/22. In the fixed income market, a Treasury bill auction was held with
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Former Bank of Uganda Executive Director-Supervision, Justine Bagyenda has informed the Parliamentary Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) that she will no longer be appearing before the Committee since she is flying out of Uganda. COSASE is currently probing Central Bank officials over the controversial closure of
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Uganda is the most preferred investment destination by Kenyan small and medium enterprises looking to expand outside the country, a new report says. The 2018 annual Top 100 survey by Nation Media Group and KPMG shows that 78 per cent of local SMEs have opened branches in Uganda, 59 per
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Uganda’s financial sector is full of ethical and governance challenges, former Executive Director, Supervision at Bank of Uganda, Justine Bagyenda has said. Her remarks are contained in her hand over report to her successor, Twinemanzi Twinobwine where she highlighted the challenges faced by Bank of Uganda in streamlining the sector.
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Ecobank Uganda Thursday flagged off four lucky winners of the Transact and Win promotion to watch live the Formula One-Yas Marina Grand Prix in Abu Dhabi. Handing over the tickets to the winners at the bank’s head offices located along Parliamentary Avenue, Ecobank’s Head of Consumer Banking -Nuhu Kanyike said
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The United States is calling for peaceful and credible elections in the Democratic Republic of Congo, where campaigns for next month's polls begin Friday. In a statement Wednesday, State Department spokeswoman Heather Nauert says the December 23 elections give the DRC "a historic opportunity" to conduct a peaceful and democratic
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Belgium's Ambassador to Uganda and South Sudan, Hugo Verbist has revealed that Uganda stands to benefit from more cooperation with the capital of Europe in the near future. Ambassador Verbist made the revelation while speaking to guests at the Belgium Kings Day celebrations held at Kampala Serena Hotel last Friday,
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There is a common saying that every finishing line marks the beginning of a new race. And that is the case with the Federation of Uganda Football Associations (FUFA) after the Uganda Cranes sealed qualification to the 2019 Africa Cup of Nations. In a press briefing held on Wednesday at
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