Kampala, Uganda | THE INDEPENDENT | Parliament’s Committee on National Economy has asked Finance State Minister, Henry Musasizi for details on the actual intended disbursements of the loan before they can give their nod of approval. Shadow Finance Minister, Muhammad Kivumbi objected asking for details of the disbursement, a request he said …
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Kampala, Uganda | THE INDEPENDENT | Parliament has approved a US$70 million loan for the construction of a state of the art facility to house the Uganda Heart institute. A loan request brought by government to collectively borrow US$70 million from the Arab Bank for Economic Development in Africa, Saudi Fund …
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Fort Portal, Uganda | THE INDEPENDENT | Fort Portal city authorities are targeting to benefit from a loan the Ugandan government is set to secure from the French Development Agency in order to address climate change and urbanization with the aim of fostering economic growth in the city. The funds are …
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Kampala, Uganda | THE INDEPENDENT | A boda-boda rider in Namugongo has committed suicide over his inability to pay 255,000 Shillings as part of his motorcycle loan. Neighbors on Tuesday morning found the lifeless body of Alex Nuwagaba, 33, outside his rental house in Namugongo within Kira municipality. One of the …
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Kampala, Uganda | THE INDEPENDENT | Vantage Mezzanine Fund II Partnership, a South African based capital fund has vowed to recover all the money that Kampala businessman Patrick Bitature owes them. In a lengthy advertorial published in the Daily Monitor newspaper today, Vantage explained the genesis of the dispute between them …
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Arua, Uganda | THE INDEPENDENT | Police in Arua has arrested a woman identified as Betty Adakuru for allegedly offering her 3-year-old child to a businesswoman after borrowing sh300,000. According to police, the suspect reportedly borrowed the money from Christine Lekuru, a resident of Kirabucell, in Arua Central Division to …
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Kampala, Uganda | THE INDEPENDENT | The National Economy Committee which is monitoring the performance of a US$150 million World Bank loan under the Agricultural Cluster Development Project (ACDP) has discovered that Kabarole district has not received funding for most of its investment projects. Legislators doubtful of the intention of the Ministry …
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Kampala, Uganda | THE INDEPENDENT | Legislators on the Committee on National Economy have slammed the Ministry of Agriculture, Animal Industry and Fisheries for poorly utilising the US$150m loan borrowed to boost productivity and market for maize, rice, coffee, and beans in selected districts. The six-year loan, implemented with support from the …
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Kampala, Uganda | THE INDEPENDENT | On Jan.10, a local daily newspaper reported an incident in which a top bank in Uganda was conned Shs2.7bn in bogus loan scheme leading to some suspects getting arrested by the police. Gurijindeer Singh, who hails from Kolkata, the capital of India’s West Bengal state …
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Kampala, Uganda | THE INDEPENDENT | The Alliance for National Transformation-ANT party has asked the government to table before Parliament, a repayment plan for the Entebbe Airport loan. In 2015, the government represented by the finance ministry and the Civil Aviation Authority-CAA, signed an agreement with China Exim Bank to borrow …
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The Independent Uganda: You get the Truth we Pay the Price