Facebook yesterday 28th October 2021 announced how it has changed it’s company name to Meta. This name was revealed at the Facebook connect augmented and virtual reality conference. The new name reflects the company’s growing ambitions beyond social media. Facebook now known as Meta adopted this new name based on the sci-fi term metaverse to describe it’s vision of working…
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High ranking executives of different companies and organizations have been called upon by the Uganda Tourism Association to help in promoting domestic tourism. These were advised to do this through offering incentive travels to their employees which will in the long run promote domestic tourism. UTA president Pearl Hoareau while speaking to the CEOs of some of the top companies…
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The Bank of Uganda has issued licenses to five companies to carry out digital and electronic payments in the new National Payment System law. Some of these companies include issuers of payment of instruments and trust fund operators. These five companies include Pegasus Technologies, Mcash Uganda, Interswitch East Africa, Wave Transfer and Micropay Uganda. These have now joined Airtel and…
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MTN Uganda recently announced how it had put up 20% of it’s shares up to the public to purchase. Localization of the business was given as the reason for this move something that has been highly commended. Consequently a partnership was announced between MTN Uganda and the Uganda Securities Exchange (USE). However to buy these shares, one needs to open…
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Uganda’s largest Telecom company MTN Uganda recently announced how it had put up 20% of it’s shares to the public for sale. This is in a bid to localize their business activities and enable the local people to have a hand in it’s direct operations. These Initial Public Offering shares number up to 4,477,808,848 equivalent to 20%. If anyone wants…
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Uganda Electricity Generation Company Limited (UEGCL) on behalf of the government of Uganda has received about 6 million Swedish Krona an equivalent of Ugx 2.5 billion shillings from the Swedfund with the support of the Embassy of Sweden in Uganda. This is meant for undertaking analytical studies for floating solar development in Uganda. The grant was handed to Dr Eng…
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The new Central City Market in Soroti City has finally opened up after months of waiting since it was completed. The market which was opened earlier this week saw vendors flock it’s premises singing the ‘Museveni abeewo’ chants as they thanked the Ugandan president for building them a never seen before market in the area. This market has over 2500…
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Former speaker of Parliament Hon Alitwala Rebecca Kadaga came out to assure the member States of East Africa that there will be a single currency operating in the region by 2024. Kadaga who is the first deputy Prime Minister and Minister of East African affairs said that this move will have a positive impact on trade as well as a…
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President Museveni came out through his Twitter page to commend Telecom giant company MTN Uganda for localizing their business. This move is aimed at enabling locals to tap into the company. The MTN team led by the chairman of the company Mcebisi Jonas met with Museveni as they briefed him about this new move. This meeting came after MTN announced…
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Stanbic Bank has sought Court intervention as it seems to recover Shs 27.4b. The bank accuses Fol Logistics and it’s managing director Mohammed Ahmed Bawazir for defaulting this payment. Stanbic bank says that Fol Logistics has been a customer under a beneficial mutual relationship since the 21st of January 2014 according to a law suit filed before the Commercial Division…
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