Bank of Uganda lost more than Shs 800 billion last financial year notes the report of the Office of the Auditor-General for December 2019. According to the report, the Auditor General scrutinized the performance of government corporations and entities. From the report, Bank of Uganda, Uganda Development Corporation (UDC) andContinue Reading

In November, the Internal Security Organisation arrested Andrew Kaggwa, the Chief Executive Officer for Global Cryptocurrencies Limited for fleecing thousands of Ugandans including senior army officers in a fake cryptocurrency scam. However, according to Francis Harimwomughasho from Newmark Advocates, the group he is representing will write to Museveni to see ifContinue Reading

Museveni held talks with Johnson during the UK-Africa Investment Summit in London, yesterday. “I thank the Prime Minister for the invitation. Like I told him in our bilateral meeting, Uganda is ready to receive British investors, given the immense business opportunities in the Pearl of Africa,” Museveni said in aContinue Reading

Kampala has sent a protest note to Nairobi demanding the immediate release of consignments of milk seized by Kenyan officials on alleged quality concerns, sparking a fresh diplomatic row between the two neighbouring countries. Uganda, which is Kenya’s biggest trading neighbour in the region, issued the note on Wednesday expressingContinue Reading

Tullow Oil has written off $800 million of its exploration costs in Kenya and Uganda after lowering its forecast for long-term crude oil prices. Oil firms recover their exploration costs over the years once production and sale of the commodity start, with lower oil prices indicating a slower-than-expected rate ofContinue Reading