The latest threat to commercial banking? At the end of November 2016, the Uganda Revenue Authority’s staff Savings and Credit Cooperative (SACCO) held up to Shs12.6 billion on its account as the cumulative savings of its members.That amount is triple the minimum capital requirement to start a Tier II bank …
Read More »African Union to receive more funding from member states
A 0.2% levy on eligible imports to African countries will enable AU states take charge of funding the organization Nairobi – African Union member states have begun implementing measures aimed at increasing funding for the organization and reducing its reliance on donor aid. One of the key measures being undertaken by …
Read More »INTERVIEW: Suspension of project good for Ugandans – World Bank
The World Bank’s Board of Executive Directors met on Nov.22, discussed and upheld the decision to suspend the $265m Uganda Transport Sector Development Project (TSDP), a transport sector development initiative following an investigation carried out on one project (the Fort Portal-Kamwenge Road) by the Inspection Panel— the Bank’s internal …
Read More »Government to divert money from roads to mitigate drought, hunger
President Museveni opens war on environmental degradation. ‘It’s causing death and destruction’ President Yoweri Museveni has said government will suspend some road projects and divert money to help mitigate the current drought and hunger situation in the country. “People can’t die of hunger and we focus on roads,” Museveni said …
Read More »Workers dying at Chinese sites rise
These Chinese contractors don’t care at all, says Labour minister vow to whip them into line The human cost of accidents, poor health and safety conditions under Chinese contractors in Uganda has come under scrutiny and what is emerging is raising serious concerns. At the heart of the latest concerns …
Read More »Bunyoro Kitara diocese gets new bishop
Rev Canon Samuel Kahuma, 57, has been consecrated as the new Anglican Bishop of Bunyoro Kitara diocese in Hoima. Kahuma was presented before Archbishop Stanley Ntagali formally for a few queries to determine whether he was qualified for admission into the church administration. “I am determined by God’s grace. I …
Read More »Winnie Byanyima: I am ready for presidency
VIDEO: Eng. Winnie Byanyima says she will be gladly to give a shot at the presidency if the party endorses her candidature. She is an aeronautical engineer, politician, and diplomat – currently executive director of Oxfam International. The wife to four time presidential candidate Dr. Kiiza Besigye’s says she has all it takes …
Read More »Minister dragged to court over mandatory vehicle inspections
Four concerned citizens have petitioned the High Court in Kampala seeking orders to have Works and Transport Minister Eng. Monica Azuba Ntege prosecuted over planned nationwide mandatory motor -vehicle inspection. The citizens led by Aaron Izimba also want orders permanently blocking the vehicle inspection, and the immediate cancellation of a contract signed on …
Read More »Non-OPEC oil states agree to cuts in ‘historic’ deal
Vienna, Austria | AFP | Eleven countries agreed on Saturday to cut their oil output, teaming up with the OPEC cartel in an exceptional bid to end the world’s glut of crude and reverse a dramatic fall in income. Russia and 10 other non-OPEC states will reduce their production by …
Read More »Over 100 feared dead in Nigeria church collapse
Lagos, Nigeria | AFP | A church roof has collapsed in southeastern Nigeria causing “many deaths and injury” the country’s president said Saturday, with state media reporting that up to 200 people could have been killed. The evangelical Reigners Bible Ministry in Uyo, capital of Akwa Ibom state was packed …
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