Kampala, Uganda | THE INDEPENDENT | The Foreign Exchange (Amendment) Bill, 2023 passed by Parliament will now require investors in the foreign exchange sector to have a minimum paid-up share capital of 200 million Shillings to transact the business. While passing the Bill during plenary chaired by Speaker Anita Among on …
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Johannesburg, SA | Xinhua | The South African Reserve Bank (SARB), the country’s central bank, said it is committed to the fight against money laundering. The SARB made the remarks in a statement on Friday after the Financial Action Task Force, a global money laundering and terrorist financing watchdog, placed South Africa …
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COMMENT | JULIET BAGGYA NSIYONA | One of the communities known widely for the old age tradition of saving is India. Popularly known for encouraging the saving of chunks of their income rather than consuming it, this tradition is instilled right from birth, so, ideally each Indian child is aware …
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New report sheds light on illicit activity in Uganda Kampala, Uganda | RONALD MUSOKE | A new report analysing the scope and characteristics of global trade-based money laundering has found that the illegal activity poses complex problems for law enforcement and undermines development; especially in poorer countries like Uganda. The study, …
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Fund jinx catches another MD over alleged corruption Kampala, Uganda | Mubatsi Asinja Habati | For the past few months, NSSF has been in the news over a fight between the line Minister Betty Amongi and its out-going but still interested Managing Director (MD) Richard Byarugaba. Byarugaba is facing allegations of mismanagement …
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Kampala, Uganda | THE INDEPENDENT | Like vultures that wait patiently until the moment when their prey can no longer move or resist, Uganda-based money lenders are now ready to harvest the science teachers’ enhanced salaries that have been in the policy and bureaucratic pipeline for several years. Like the huge, …
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New York, U.S. | Xinhua | While every modern U.S. president has stretched the truth now and then, Joe Biden’s routine misstatements about money and the economy seem to go unchallenged, reported The Hill in mid-July. “In recent months, as the economy has slipped into a soft recession and with inflation …
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Moroto, Uganda | THE INDEPENDENT | Tension is high among residents of Moroto municipality following attacks by suspected cattle rustlers who have resorted to breaking into people’s homes asking for money and food. Joseph Puwan, a resident of Katanga ward says that the warriors attacked him on Friday last week around …
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Kampala, Uganda | THE INDEPENDENT | Research conducted on one fifth of Uganda’s districts found that aspirants for parliament, districts chairs and mayorships had spent at least 250 billion shillings three months before the official campaign kicked off. This would loosely put the expenditure for that level of aspirants in the …
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Kampala, Uganda | THE INDEPENDENT | The Democratic Party- DP candidates in Mukono municipality are concerned about the demand for money by the electorate. The candidates who include Christopher Kaddu Namutwe who is contesting for Mukono Municipality mayoral seat and George Fred Kagimu for the Mukono Municipality Member of Parliament note …
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The Independent Uganda: You get the Truth we Pay the Price