The police have cleared Equity Bank of any wrongdoing in a fraudulent gold transaction that resulted in a loss of over Shs3 billion for Canadian national Clifford Potter.Last week, it was reported that Police had called on Equity Bank and Stanbic Bank to clarify the circumstances surroundi
The Supreme Court has ordered Samuel Mukasa, the founder of Biyinzika Enterprises, to refund his foreign business partners more than Shs 130 million after a failed poultry farming land deal.Mukasa and his wife Milly Mukasa established Biyinzika Enterprises Limited, now Biyinzika Poultry In
KAMPALA, Uganda — Police in Kampala Metropolitan area have arrested five suspects after successfully foiling a planned robbery targeting a man transporting money to a bank in Wandegeya.The suspects have been identified as Ivan Gizamba, Rogers Muyingo, Juma Ashford, Musa Masiga, and James
Kitgum Main Market is still operating below capacity, more than two years after its commissioning, raising concerns over declining local revenue collection.The 2.6 billion Shillings market, constructed under the Markets and Agricultural Trade Improvement Programme-II (MATIP II), was commis
Traders in Entebbe Municipality say the ongoing enforcement of the Ministry of Local Government’s trade order has left them evicted without warning, relocation plans, or enough space in the new market areas.The municipal authorities began enforcing the order in different divisions, but s
Uganda is preparing to issue its first sovereign sukuk as part of efforts to finance the construction of a standard gauge railway (SGR) linking Kampala to the Kenyan border town of Malaba, marking the country’s entry into Islamic capital markets, Ecofin Agency reports.The Ministry of Fin
President Museveni has today witnessed the signing of the Memorandum of Understanding and operational license agreement between the Uganda Communications Commission and Starlink.The president in an X post said this marks "an important step towards the commencement of their operations in Ug
Four government and local leaders in Manafwa District have been brought before court after being accused of stealing and conspiring to misuse funds meant for community development under the Parish Development Model (PDM). The case has attracted public attention because the money involved was mean
The Former Minister of Agriculture, Animal Industry and Fisheries, Frank Tumwebaze, has flagged off Uganda’s inaugural export of canned pineapples to China, describing it as a major breakthrough in the country’s agro-industrialisation drive and export market expansion.Tumwebaze said 10
Richard Byarugaba has joined Equity Group Insurance to lead its new asset management subsidiary as the company expands into wealth management services.Equity Group Insurance Holdings Limited (EGIHL) has appointed veteran financial executive Richard Patrick Byarugaba as Managing Director fo
