Press "Enter" to skip to content

Posts published in “Business”

BoU Scam: Is there more than meets the eye?

On 13th June, 2019, a team from the State House Anti-Corruption Unit raided Bank of Uganda after a tip off that some senior officials there had authorised printing of money notes ranging in billions of shillings. According to reports close to Shs 90 billion could have been printed under this illegal scheme and shipped into […]

Why honestly do we still have a budget reading day?

Why do we read the budget? No, really, I know no one will ask this question but allow me knock to pieces the party glasses. Why, really, must we read the budget? We know, by May, what the total of the budget will be. We know which sector will get what from the budget report […]

MTN slashes Mobile Money sending fees by more than half

MTN Uganda has today slashed mobile money sending fees by more than half in a new promotion aimed at giving back to their customers. MTN Uganda Chief Executive Officer, Wim Vanhelleputte, said that the new offer that will run for eight weeks is in line with MTN’s commitment to driving financial inclusion in Uganda while […]

Job site LinkedIn becomes target for spy recruitment

Katie Jones sure seemed plugged into Washington’s political scene. The 30-something redhead boasted a job at a top think tank and a who’s-who network of pundits and experts, from the centrist Brookings Institution to the right-wing Heritage Foundation. She was connected to a deputy assistant secretary of state, a senior aide to a senator and […]

Customers from Mbarara, Jinja win big in Pepsi Tukonectinge promo

Clive Nasasira from Mbarara and Rukia Nafuka from Jinja are the latest lucky customers to win a Toyota Wish car each in the ongoing Tukonectinge promotion by beverage compay, Crown Beverages.  The ongoing promotion saw Rukia Nanfuka fail to hold back her tears of joy after being announced the lucky winner of one of the […]

KCCA warned against harassing street vendors, must renew their licences faster

Officials from Kampala Capital City Authority (KCCA) have been put on notice by the Speaker of Parliament, Rebecca Kadaga, over the persistent allegations of harassing vendors. Kadaga faulted KCCA over claims that it is dragging its feet on the renewal of their licenses, making them vulnerable to brutal arrests and crackdown on their goods. In […]

Equity Bank opens supreme branch in Bugolobi

Equity Bank Uganda Ltd has opened the latest Supreme banking branch on Luthuli Avenue right opposite Nice House of Plastics. Speaking at the official opening, Equity Bank Managing Director, Mr. Samuel Kirubi said the Supreme Branch will offer customized banking solutions with exclusive privileges. “At Equity Bank we are proud to continue the innovation journey […]

SEACOM telecom launches services in Uganda

Pan-African telecoms enabler SEACOM has extended its corporate market offering into the East African region, under its SEACOM Business brand, by providing its industry-leading Internet connectivity and cloud services directly to corporate customers in Uganda. Speaking during the launch, SEACOM’s Managing Director for the Eastern North and East Africa region, Tonny Tugee, said the new […]

Lt Col Nakalema speaks out on BoU raid, says governor alerted her about scam

Lt Col Edith Nakalema, the head of the State House Anti-Corruption Unit has broken her silence over yesterday’s raid of Bank of Uganda by her team after a tip off regarding fishy deals. In a brief statement issued today, Nakalema confirmed that her team was carrying out investigations regarding a recent procurement consignment. She did […]

DFCU celebrates resilient financial performance at 54th annual general meeting

DFCU Bank Limited on Thursday, June 13, held their Annual General Meeting (AGM) at Hotel Africana graced by shareholders to review the 2018 performance and lay strategies on how best the institution can lead the banking sector in Uganda. The bank highlighted the 2018 performance where they noted that; • Loans and advances grew by […]

Nakalema’s team raids BoU over fishy deals

A team from the State House Anti-Corruption Unit yesterday raided Bank of Uganda after a tip off that some senior officials there had authorised printing of money notes ranging in billions of shillings. According to reports close to Shs 90 billion could have printed under this illegal scheme and shipped into Uganda. Lt Col Edith […]

URA to auction Ugandan vehicles stuck at Mombasa

In a public notice released by Dicksons Kateshumbwa, the commissioner in charge customs at URA, the tax body says for several years, a number of used motor vehicles have been abandoned at Mombasa but noted they will now auction them. “Pursuant to sections 34(1), 4 and 42(1) of the East African Community Customs Management Act […]

DFCU looks to a better future

DFCU Bank’s chief executive officer, Mathias Katamba has said that 2018 was generally a good year forthe book. Addressing shareholders at the bank’s 54th Annual General Meeting (AGM) yesterday at Hotel Africana, Katamba said that in 2018, the bank improved its asset quality and was in a strong position to prosper in future. “The business […]