A storm is brewing over the true cost of buying out Umeme Limited, Uganda’s electricity distributor, as discrepancies in the numbers come to light.The Auditor Genera, Edward Akol has advised the government to pa
City businessman and billionaire, Hassan Basajjabalaba could lose a significant part of his Kampala International University over UGX 57 billion loan dispute after the High Court in Kampala ruled in favor of Housing Finance Company Limited in a high-stakes financial dispute.The ruling, whi
The late Hajji Bulaimu Muwanga Kibirige (BMK) was a businessman in Uganda. He built a strong business empire, including Hotel Africana, which expanded to different parts of Africa. Since his passing, his businesses are facing financial difficulties, with debts t
Rwanda Defense Force (RDF) has announced the capture of 14 individuals it claims are fighters of the Democratic Forces for the Liberation of Rwanda (FDLR), an armed group opposed to the Rwandan regime. These individuals were allegedly apprehended in the Democrat
Metaplanet, a Japanese public company, has recently decided to boost its Bitcoin holdings as part of its strategy to manage economic challenges. The company raised 4 billion yen (around $26.39 million) by issuing ordinary bonds to EVO Fund, a debt and financing
The government of Uganda is committed to meeting Umeme Limited’s buyout amount before the electricity distributor’s concession runs out at the end of March, Ziria Tibalwa Waako, the chief executive officer of the Electricity Regulatory Authority (ERA), has s
The permanent secretary and secretary to the treasury Ramathan Ggoobi has interdicted the nine officials from the finance ministry under the Accountant General’s office.This follows an investigation in the minis
The Deputy Speaker of Parliament Thomas Tayebwa has asked that no public money be used to buy his clothes after concerns were raised about the 2025/2026 national budget which includes large amounts for meals, bed sheets and shoes for top government officials.
The Ministry of Works and Transport faces severe financial problems after taking over the Uganda National Roads Authority. Minister Gen Edward Katumba Wamala told Parliament that his ministry now has a debt of Shs 1.3 trillion from UNRA.According to the Works Minister, the debt grows by Shs
Lieutenant Amon Ariho, the UPDF Engineering Brigade officer who killed himself, left behind a message to Chief of Defence Forces (CDF) Gen Muhoozi Kainerugaba before he shot himself dead.Lt Ariho reportedly drove
