NEWS

By Julius Businge Bank of Uganda has officially announced the commencement of the East African Cross Border Payment System (EAPS) that links the real time gross settlement systems (RTGS) of the EAC member countries. Joyce Okello, the director payments and settlement at the Bank said the platform went live on …

By The Independent Team The leaders of five East African countries on Saturday afternoon signed a monetary union protocol kicking off plans to have a common currency for the block within 10 years. The move is expected to boost regional trade with in the EAC block which is expected to …

By The Independent Team In the Hague, the International Criminal Court (ICC) has reversed a ruling that allowed Kenyan President Uhuru Kenyatta to attend only parts of his trial in The Hague. Kenyatta’s trial begins in February and his lawyers argued that attending the trial would prevent him from governing …

By Independent Team The former chairman of the Kenya –Students Council Uganda Silas Maka Otuke has threatened to mobilize former Kenyan students in Uganda to burn education transcripts attained from Ugandan institutions if relevant authorities fail to handle well a case in which Kampala University is involved. Otuke says KU’s …

By The Independent Team The Kampala City Mayor Erias Lukwago has this morning been voted out of office. In a special council meeting that was hurriedly held at City Hall on Monday morning chaired by Frank Tumwebaze the minister of the Presidency and the Kampala Capital City Authority (KCCA), 29 …

By Joan Akello African Tax Administration Forum (ATAF) officials say Uganda has made strides in using the mobile phone tax payment to increase compliance. They say the South African Revenue Service is weighing its options on the move. “Uganda’s cell phone tax payment is great … with a great Commissioner …

By Julius Businge  Power distributor, Umeme Uganda Limited, in line with its dividend policy has announced an interim dividend of Shs 8 per share approved at its meeting held on Nov. 14, it said in a note released on Nov. 18. The Board of Directors of the Company resolved to …

By Julius Businge The National Social Security Fund (NSSF) has today (Nov. 13) unveiled a master plan for the construction of 2, 741 housing units in Lubowa estate, which it acquired 10 years ago. When development starts, later in 2014, it will be the first investment on the estate that …

By the independent team The signing of a peace deal between Congo and defeated M23 rebels was delayed on Monday evening after the two sides disagreed on the wording of the pact, a Ugandan minister said. “The DRC delegation has aborted the signing of agreement with M23,” said the Ugandan …

By Julius Businge This is the second straight month the Central Bank of Uganda is staying its policy interest rate, the central bank rate (CBR) unchanged at 12%, Governor Emmanuel Tumusiime Mutebile told a news conference in Kampala on Nov. 4. The policy rate stood at 11% in August before …