The late Kawempe South MP Muhammad Ssegirinya’s case is the most complicated.The Uganda Parliamentary Savings and Credit Cooperative Organisation (SACCO) is withholding savings belonging to at least 34 deceased legislators due to bitter disputes among i
Public Investment Corporation chair says investments ‘not entirely prudent’PIC chair David Masondo. Picture: FREDDY MAVUNDA/BUSINESS DAYThe high level of impairments in the Public Investment Corporation’s (PIC) unlisted investment portfolio was overwhelmingly due to
MTN Mobile Money Limited, in collaboration with Letshego Uganda and dfcu Bank, has unveiled two innovative loan products aimed at providing mobile money agents with instant working capital.The dfcu Bank Weekend Agent Loan and the Letshego Agent Float Loan expand the MoMo Agent Loans Market
David Kalyango, the Executive Director of Supervision at the Bank of Uganda, explained the vision: ensuring that every Ugandan, no matter their type of work, can access credit to grow businesses, boost investments, and drive development.The Bank of Uganda has been locked in a he
Russia's economy is facing a "time bomb", as sanctions escalate and interest rates remain high. Businesses around the country are struggling to pay back loans and are fighting to stave off bankruptcy.Firms have watched on helplessly as interest rates were hiked to 21% towards th
Four people accused of attempting to defraud Stanbic Bank of Shs725 million were on Friday formally charged before the Buganda Road Chief Magistrate’s Court.They face seven counts, including forgery, uttering false documents, personation, attempted theft, and conspiracy to com
Three elephants that crossed the Paalappuzha river from the Aralam Farm completely ravaged the farmIn Iritty, herd of wild elephants destroys 600 plantain trees in a single nightFarmer Babu Joseph at the plantain farm in Palappuzha Koodaladu that was destroyed by a herd o
Russia's economic crisis is intensifying with thousands of companies reportedly facing bankruptcy. Businesses have been hit by a double whammy of sanctions and high interest rates, since the outbreak of the full-scale war in February 2022.The key interest rate rose to a staggeri
Uganda has joined Bangladesh, Somalia, Cameroon, Afghanistan, Sudan and other countries in the United Arab Emirates’ 2025 visa ban. The UAE has temporarily suspended the issuance of visit and work visas for citizens of nine countries due to security, immigration, and diplomati
Nearly two years after the World Bank Group suspended new funding to Uganda over the enactment of the Anti-Homosexuality Act, the international lender has lifted the ban.Deputy Speaker of Parliament Thomas Tayebwa was among the first to welcome the development, congratulating th
