In The Magazine

The major commercial banks in the country have released statements, lowering their prime lending rates, the lowest lending rates for the best customers to between 21% and 23% per annum. This is in response to Bank of Uganda’s recent decision to lower the Central Bank Rate last month from 14% …

Though poaching is regarded as the main danger for wildlife, there are other factors that kill them, writes Joseph Ondiek An organisation in Rwanda, the One Health Approach for Conservation (OHAC), is pioneering a new way of conserving the nation’s treasured mountain gorillas and other wildlife. Founded in 2015 by Jean …

Is FDLR splitting? The recent arrest of a top Rwandan rebel commander in the DR Congo has once again sparked speculation that the FDLR could be on the verge of imploding internally. Habyarimana Mucebo Sofuni, a senior member of the Rwandan FDLR rebel group, was captured in Rutshuru, north-eastern DR …

Uganda, Russia reach understanding to harness huge Uranium deposits to produce thousands of mega watts from nuclear energy It’s now official; Uganda’s plan to develop nuclear as a source of electricity is on course. On Oct. 13, a Russian government delegation was in Uganda to meet President Yoweri Museveni.  The …

With the Crane Bank being placed under Central Bank management and several other commercial banks being asked to recapitalise, the banking sector in Uganda seems to be under a lot of stress lately. What seems to have brought down Crane Bank does not seem to be a Crane Bank problem …

Threat to cut funding leads to fight among energy bosses Sparks are flying between President Yoweri Museveni and his Chinese lenders, Exim Bank, on one hand and between Ministry of Energy officials and of the Uganda Electricity Generation Company Ltd (UEGCL) on the other. Trouble is over the piling up …

THE LAST WORD: By Andrew M. Mwenda Lesson for Central Bank from the experience of the takeover of Crane Bank This week, the government injected Shs 200 billion into Crane Bank to bolster its liquidity position. This is only 40% of the Shs 500 billion needed to bring the bank …

Local Africa beat is major attraction in music industry Demand for homegrown contemporary music is sweeping Africa and driving a creative boom in an industry otherwise battered by falling CD sales and rampant piracy. A recent study of the entertainment sector by PricewaterhouseCoopers (PwC) accountants showed rapid earnings growth in …

FRANKLY SPEAKING: The Austrian theoretical physicist Albert Einstein is quoted to have said: “In the middle of every difficulty lies opportunity”. Stephen Robert Isabalijja was raised by a single mother and was vending milk at an early age, but that did not stop from succeeding in later life to become …

Visual artists from the East African region in historic exhibit  On the 14th of this month, Nommo Gallery in Nakasero awoke from its slumber as visual artists from the East African region gathered in a historic painting exhibition under the rubric of cultural diversity. This show was a translation of …