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Excessive govt local borrowing starves private sector of credit
A report by the European Investment Bank indicates that excessive government domestic borrowing has severely impacted the private sector, with many borrowers left with no sources of credit. The report, titled: Finance in Africa, Unlocking Investment in an Era of Digital Transformation an
Ultimate Uganda
Tycoon Rajni Tailor faces jail over Shs148m rent arrears
Rajini Tailor, a renowned businessman and former Buganda Kingdom minister, has been embroiled in a debt dispute with the Muljibhai Madhvani Foundation, resulting in his recent detention at Luzira Prison. The dispute centres on unpaid rent arrears amounting to approximately Shs148 million
Ultimate Uganda
Producer of Michael Jackson’s ‘Thriller’ dies
Quincy Jones, the man known simply as "Q," was a huge influence on American music in his work with artists ranging from Count Basie to Frank Sinatra and reshaped pop music in his collaborations with Michael Jackson. Jones died on Sunday at the age of 91, his publicist said. There was
Ultimate Uganda
US election: Ugandans hopeful vote outcome will sustain education aid
The US heads to the polls today, with many across Africa, including Uganda, hopeful that the incoming president will maintain foreign aid that supports educational programmes. The US has significantly contributed to Uganda's education sector through scholarships, partnerships, funding, a
Ultimate Uganda
Uganda shilling strengthens against dollar - BoU
Bank of Uganda has said in its monetary policy report of October 2024, which it released on Monday that in the three months to September 2024, the shilling appreciated by 1.9 percent, which indicates that Uganda’s domestic financial market has continued to remain stable. The appreciati
Ultimate Uganda
VIDEO: New details of how govt slept on job ahead of Kiteezi dumpsite collapse
On October 4, the Electricity Regulatory Authority (ERA) published in this newspaper a “notice of intended application for licence” for the development of the proposed 20 Megawatts waste-to-energy power plant in Ddundu Village in Kyampisi Sub-county, Mukono District. The notice, a pr
Ultimate Uganda
Ssenyonyi wants probe into Shs550b Atiak sugar deal
The Leader of Opposition in Parliament (LoP), Mr Joel Ssenyonyi, has tasked the government to conduct a comprehensive audit to establish how Shs553.71 billion that has been pumped into Atiak Sugar Factory was utilised, saying there is little to nothing on ground to show for the money. Fo
Ultimate Uganda
Parliament summons Finance, AG over Roko’s Shs260b bailout
Two years after government voted to invest more than Shs266 billion in Roko Construction Company, concerns are growing that if not closely monitored, this may turn into another huge loss to the taxpayer. Parliament now wants the government through the Ministry of Finance, Planning and Ec
Ultimate Uganda
Uganda demands more support to host refugees
The Ugandan government has presented a set of demands to the international community, including funding agencies, in response to the increasing burden of hosting refugees. Uganda currently hosts around 1.7 million refugees, straining the country’s resources as donor funding declines.