Stanbic, Standard Chartered lose bid to recover $23.5m from Basajjabalaba
The Court of Appeal has dismissed a bid by Stanbic Bank Uganda and Standard Chartered Bank Uganda to recover $23.5 million and Shs433.3 million from businessman Hassan Basajjabalaba and other guarantors, ruling that the two banks lost the legal right to pursue the debt after assigning it to the Bank
Tooro seeks Shs 925m for Edward Nyabongo’s coronation
Tooro Kingdom has launched a Shs925 million fundraising drive to finance the coronation of its new king, Edward Rukidi Nyabongo I, as preparations intensify for his September 29 enthronement at Karuziika Palace in Fort Portal. The fundraising campaign comes less than a month after the death of Omukama Oyo Nyimba
Independence Marathon Gains Momentum as Ugandans Run for Maternal Health
Preparations for this year’s Independence Marathon have gathered momentum following a successful build-up activation held on Saturday at Metroplex Shopping Mall in Naalya, where hundreds of runners, fitness enthusiasts and corporate partners converged ahead of the main event slated for October 4 at Mandela National Stadium, Namboole. The activation attracted
Minister Kuteesa Kamuli Lauds Stanbic-France Partnership as 106 Green Enterprises Graduate
Minister of State for Gender and Culture, Mary Kuteesa Kamuli, has commended Stanbic and the Embassy of France in Uganda for championing women and youth-led green enterprises, describing their collaboration as a practical example of how strategic partnerships can accelerate Uganda’s economic transformation. Speaking as Guest of Honour at the
Gov’t sets next year’s budget at Shs79.22 trillion
Uganda’s preliminary national budget resource envelope for the financial year 2027/28 has been set at Shs79.22 trillion, representing a reduction of Shs5.17 trillion from the Shs84.39 trillion budget for the current financial year. The new figure was announced by the Permanent Secretary and Secretary to the Treasury (PSST), Ramathan Ggoobi,
Shilling slides to near record low as dollar demand rises
The Uganda shilling weakened further against the US dollar this week, sliding to near record lows as strong demand for foreign currency from manufacturers, energy and telecommunications companies put renewed pressure on the local unit. The shilling opened the week at Shs3,895/3,905 against the dollar before weakening to Shs3,945/3,955 on
How ex-UPDF officer Katungi was extradited to US over drug trafficking, firearms charges
Former Uganda People’s Defence Forces (UPDF) officer Michael Katungi Mpeirwe has been extradited to the United States to face trial on charges of drug trafficking, firearms offences and providing material support to a designated foreign terrorist organisation. Mpeirwe was picked up from Luzira Prison at about 6am on Saturday and
Leku Pilli sweeps Adjumani West, wins seat left by Gen Moses Ali
NRM candidate James Leku Pilli has taken over the Adjumani West parliamentary seat after securing an overwhelming victory in Thursday’s by-election, beating his independent rival Gasper Draga by 9,864 votes. Leku polled 12,423 votes against Draga’s 2,559 in an election that attracted more than 15,000 voters, according to results announced
Hilda Man loses bid to overturn Ameria Kyambadde’s election
The High Court has dismissed a petition by Kiyaga Hillary Innocent aka Dr Hilda Man challenging the election of former minister Ameria Kyambadde as the Mawokota North Member of Parliament, after finding that his application for discovery of electoral documents was too broad and ambiguous. Kiyaga had dragged the Electoral
Uganda steps up push to turn mineral wealth into industrial growth
As Uganda moves to turn its mineral wealth into greater industrial and economic value, dfcu Bank has stepped up support for players across the mining value chain, offering financing, insurance and foreign exchange risk management solutions. The bank says its interventions are targeting some of the key challenges limiting investment
