It is risky for a country to depend on hydropower dams on a single river as the only source of power COMMENT | PETER NYANZI | Recent media reports that Government is considering to bailout business Patrick Bitature by acquiring Electromaxx, his thermal power generation company based in Tororo District in …
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National news reporting – Print Winner Mr Haggai Matsiko, The IndependentInside the Shs 1 trillion bailout Runner-up Mr Sulaiman Kakaire, The ObserverFour universities producing fake nurses Honourable mention Mr Emmanuel Ainebyoona, Daily MonitorGovernment officials fight over new cancer machine deal The Independent’s Haggai Matsiko has taken the National News Reporting …
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The board of trustees of Nakivubo War Memorial Stadium has asked government for a bailout to pay tax arrears they owe Uganda Revenue Authority (URA). State minister of sports Charles Bakabulindi told parliament on Tuesday that the stadium cannot raise sh484 million in unpaid taxes. Nakivubo Stadium was closed on July 19 2016 over …
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Lead pusher Bitature bags Shs47bn Government could be quietly handing out billions of shillings to private businesses, The Independent has learned from sources familiar with some of the transactions. What is not clear, however, is the extent to which those who claim that this is a `silent’ roll-out of the …
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COMMENT: David Chandi Jamwa Bailout – How to get it done and done right without using taxpayers money For the past three months or so I have been seeing myriad opinions, sentiments, emotions, rebuttals, re-rebuttals, postulations, reverse-postulations, forwardings, withdrawals, denials, and in several cases outright rubbish, flying around the Ugandan …
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VIDEO: A section of tycoons mentioned among the bailout beneficiaries have admitted having financed part of the campaign activities of the ruling National Resistance Movement in the February general elections. The tycoons led by the Chairman Uganda Manufactures Association, Amos Nzeeyi however say their decision to support the ruling party …
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On March 31 2016, the total value of all loans in Uganda’s commercial banking industry was Shs21.7 trillion of which Shs528 billion were non-performing loans (or “bad loans”) i.e. 2.64% of the total. Under the effective oversight of Bank of Uganda, especially its director for supervision; Justine Bagyenda (known in …
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COMMENT: Nimrod Muhumuza After years of touting of Uganda’s positive economic growth in flowery language, citing growth in the manufacturing and real estate sector, and reduced poverty and inflation statistics, it is now emerging that the government is contemplating forking out over Shs1 trillion to relieve over 100 companies facing …
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NBS: Some commercial banks have recalled the loan facilities previously extended to a number of companies and individuals over concerns that they may be on their to bankruptcy. This comes as the heels of media reports of a possible bail out for some key businessmen reportedly chocking on credit facilities. …
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Gen. Saleh now running Museveni’s government On July 21, a group of Kampala traders met at Serene Suites, a boutique hotel of two boxlike four-story blocks on top of Mutundwe Hill on the edges of the city that has become a sort of headquarters for the financially-distressed business people. The …
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The Independent Uganda: You get the Truth we Pay the Price