The Uganda Head of state President Yoweri Kaguta Museveni is set to fly to Tanzania to conclude the oil pipeline deal. The meeting between the two heads of state is meant to be held in Tanzania’s capital Dar es Salaam tomorrow in which they will finalize the yet to be constructed East African crude oil pipeline. Before, President Samia Suluhu…
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Uganda Is A Sure Profitable Country-President Museveni Assures Singer Akon
President Museveni has embarked down to business already after swearing in officially for his sixth official term. In a meeting held at State House Entebbe, the president met American singer Akon and his entourage who are seeking investment opportunities in Uganda. President Museveni is well known at enticing foreign investors and this was the case while addressing this delegation. He…
Read MoreDollar depreciates and expected to remain low a little bit longer
The Bank of Uganda placed the formal exchange rate for the dollar at 3,529.39 buying and 3,539.39 selling by the end of yesterday. This was moderately solid for the local currency from the start of the day when the central bank quoted it at 3,530.22 buying and 3,540.22 selling. Walking around the forex bureaus of Kampala showed that the Dollar…
Read MoreUganda and Africa in general face a decline in remittances
The World Bank recently released data showing how payments from Ugandan workers abroad had fallen by $300m in 2020. The information that is contained in the World Bank Global Knowledge Partnership on Migration and Development. It shows how remittances, during this period, reduced to $1.1b from $1.4b in 2019 as a result of Covid-19 pandemic adverse effects. These payments from…
Read MoreUganda Baati Limited graces Agago hospital with a Ward
In a bid to give back to the community, Uganda Baati Limited has constructed a Ward for Agago Health Care III ward. The said ward is expected to house both the maternity ward as well as an outpatient department which were initially out of service because they had been greatly dilapidated. The industry in it’s CSR 2021 project decided to…
Read MoreWar erupts between UNBS and clearing agents
A feud has broken out between the Uganda National Bureau of Standards (UNBS) the body concerned with certifying goods in Uganda with a clearing company known Frerich Forwarders Uganda. UNBS accuses these of failure to present goods for verification on two occasions last year, something that breaches the law under the Uganda National Bureau Standards (UNBS) Act. However Mr Frederick Kasoma,…
Read MoreLow tax revenue forces Kasese councilors to cut down on their earnings
Alarmingly low earnings from tax revenue have driven Kasese councilors to cut down on their salary. Aside from the councilors, the salaries of the council’s speaker, the Mayor, and their deputies respectively are going to be cut down so as to meet the budget expectations. Due to this, the councilors will earn UGX 120,000 instead of UGX 150,000. Currently, Kasese…
Read MoreFish prices double in the Bunyoro sub-region
Reports conducted by a reliable source indicated that fish prices have doubled in the Bunyoro sub region. In the districts of Buliisa, Masindi, Hoima, Kikube and Kagadi, small fish that was initially at 3,500 shillings is now being sold at 7,000 shillings while the biggest size that was at 10,000 shillings is now at 20,000 shillings for Tilapia fish. Tilapia…
Read MoreMinister Vincent Ssempijja credits the private sector for its contribution towards the development of the country
Minister of Agriculture, Animal Industry, and Fisheries Vincent Ssempijja has credited the private sector for its contribution towards the development of the country especially oil palm growing on Buvuma Island. He made these remarks while launching the oil palm growing on Buvuma island which he believes has greatly been facilitated by the private sector. Vincent Ssempijja further said the extension…
Read MoreCity tycoon Hamis Kiggundu refutes Courts’ UGX 120 billion decision
City tycoon Hamis Kiggundu has appealed against the Court of Appeals’ decision to cancel the refund of more than 120 billion shillings to him. Earlier on, the commercial court had ordered Diamond Trust Bank Uganda and Kenya to refund more than 120 billion shillings to Ugandan businessman Hamis Kiggundu. However, this decision was nullified by the court of appeal. The…
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