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Government has revealed that the Shs202.13bn required to bailout Roko Construction Company will be borrowed from Trade Development Bank. Henry Musasizi (pictured), State Minister for Finance-General Duties made the revelation while appearing before Parliament’s Finance Committee to defend the motion by Government seeking Parliament’s approval to buy shares in Roko.

Trucks Parked at Elegu Border point in Amuru District Hundreds of trucks have piled up at Elegu Border point in Elegu Town Council in Amuru District following violence that erupted across the South Sudan border town of Nimule on Monday. Traffic came to a standstill for the better part of

Ouma shows some of the procured equipment as Uganda Airlines prepares to start self-handling project Uganda Airlines, the flagship carrier for the country, is ready to kick-start its self-handling project once it gets necessary approval from Uganda Civil Aviation Authority (UCAA), Business Focus reports. Derick Ouma, the Duty Manager at Uganda

Prime Minister Robina Nabbanja (pictured) has told off people who criticized Secretary to Treasury, Ramathan Ggoobi for firing ‘incompetent’ Town Clerks and Accounting Officers to leave government to clean up the mess in poor service delivery in many local governments.   “You are aware that we have a law in place that informed the

Over 580 people have reportedly lost their lives to starvation in Karamoja Cabinet has approved a plan to spend Shs135bn in the purchase of food to feed people from Karamoja sub-region in the next three months. This was revealed by the Prime Minister, Robinah Nabbanja  following reports that over 580

L-R: Officials from Roko including Joseph Kibuuka, Mark Koehler, Jacob Batte appearing before Finance Committee Roko Construction Company Limited has warned Parliament that if the request by the company to have government inject Shs202.13bn in the struggling construction giant would likely crash Uganda’s economy and affect operations of some commercial banks

The banking industry is worried over the rate at which the cost of living in Uganda is rising threatening the recovery of the economy. The Uganda Bureau of Statistics reports that headline inflation steadily increased to 6.8 per cent at the end of June, from just 2.7 per cent in

Kampala City Trader's Association-KACITA has called for the reduction of the Central Bank Rate-CBR, saying it has made borrowing from commercial banks very expensive. CBR is the rate at which, the central bank lends to commercial banks and is often set by the monetary policy committee with the intention of

The Public Accounts Committee- PAC Local Government has ordered the former Kaabong Chief Administrative Officer – CAO, Joel Musisi to refund Shillings 328 million he unlawfully paid to an 'elusive' contractor. The Committee members reached the decision after Musisi admitted that he erred while disbursing the funds to the contractor.