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
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
vicious family war has exploded inside the wealthy family of former Minister of Health and Works Shaban Kirunda Nkutu, decades after the powerful minister was brutally killed by the regime of dictator Idi Amin in 1973.What started as a mourning period following the death of family matriarc
A bombshell leaked board resolution from Stanbic Bank Uganda has laid bare the real reasons behind the dramatic exit of CEO Anne Juuko in 2024 and it’s not the rosy “promotion” story that was sold to the public.Kampala was left buzzing, boardrooms kept whispering, and the truth is fi
Kampala, Uganda | THE INDEPENDENT | Devon Petroleum SMC LTD has officially entered Uganda’s downstream petroleum sector with the launch of six fuel stations, positioning itself to compete in an increasingly crowded market where oil marketers are racing to expand retail networks, strengthen cust
Centenary Bank has pulled off a quiet boardroom coup, lining up long-serving executive Godfrey Byekwaso to take over as Managing Director while Fabian Kasi, the face of the lender for over a decade, prepares to step up and steer the wider Centenary Group. The planned handover, still uncon
Stanbic Bank Uganda has been ordered by the court to deposit Shs200 million as security in a commercial dispute with Vegol Limited that has dragged on for four years now.It all began in 2022 when Vegol, a prominent manufacturer specializing in edible oils, soaps, and other products, sued a
Centenary Bank’s top leadership (L–R): Chairman Gustavo Bwoch, Managing Director Fabian Kasi, Executive Director, Business Joseph Balikuddembe, and Executive Director, Operations Michael Opira. The bank is resetting its executive leadership through a dual-Executive Director structure aimed at
As Uganda approaches the long-anticipated milestone of first oil, it does so at a moment of contradiction in the global energy narrative.On one hand, the world is accelerating towards a low-carbon future, with growing consensus on the need to scale up renewable energy.On the other h
Azuba passed away on April 21, 2026, at Nakasero Hospital in Kampala, where she had been undergoing treatment. She was 72 years old. Her death has drawn tributes from across the country, with many describing her as a composed and effective leader who quietly delivered results.She was appoi
