Shilling steadies as BoU mops up excess liquidity
The Uganda shilling traded sideways against the US dollar in last week’s session, supported by a balance between demand and supply in the interbank market. Market activity showed demand for the greenback largely coming from the energy, manufacturing and telecommunications sectors, while supply was driven by commodity exporters, non-governmental organisations
Court dismisses Magoola application in Equity Bank loan dispute
The High court has dismissed an application by businessman Dr Matthias Magoola seeking orders for reconciliation and audit of his loan and current accounts held with Equity Bank Uganda. In her ruling, Justice Susan Abinyo found that the application lacked merit and would delay the disposal of the main suit.
Witonze vetted as minister of state for Internal Affairs
Parliament has vetted Juma Witonze Kisekka as minister-designate of state for Internal Affairs, following his appointment by President Yoweri Museveni earlier this week. Witonze replaces Lawrence Muganga, who was dropped from the position amid questions surrounding his citizenship status, sparking public debate on eligibility for senior government office. The appointment
Absa honours top dealers in asset finance push
Absa Bank Uganda has recognised 13 outstanding dealer partners under its inaugural Titan Awards, an initiative aimed at strengthening partnerships that expand access to vehicle and asset financing in Uganda. The awards, which the bank says will be held annually, are designed to support businesses and individuals to invest in
Lukwago denied bail over uncertified prison medical report
The High Court in Kampala has dismissed a bail application filed by remand prisoner Erias Lukwago, ruling that he failed to present a medical report certified by a Uganda Prisons Service medical officer to support his claim that his deteriorating health could not be adequately managed while in custody.
Uganda Airlines faces internal wrangles, stalled Shs 3bn probe
Uganda Airlines is grappling with internal tensions and a stalled Shs 3 billion probe into its public relations expenditure, amid sweeping management changes at the national carrier. The shake-up follows the February 2026 departure of former chief executive officer Jennifer Bamuturaki, which triggered shifts within both the board and senior
Absa takes financial literacy drive to Mbarara schools
Absa Bank Uganda has extended its financial literacy outreach to students in Mbarara, reaching 345 learners at Revival Girls Secondary School through a peer-learning initiative conducted in partnership with Reach A Hand Uganda. The engagement is part of an ongoing collaboration between the bank and the youth-focused organisation aimed at
Absa pushes blended finance to unlock Uganda’s energy ambitions
Financial institutions must prioritise blended finance and bankable project structures to unlock Uganda’s long-term energy ambitions, Absa Bank Uganda chief financial officer Michael Segwaya said. Speaking at the 2nd Energy Convention held at Four Points by Sheraton in Kampala on July 24, Segwaya said access, affordability and project preparation remain the
Muwanga Kivumbi remanded after 19 days incommunicado
Former Butambala County MP Muhammad Muwanga Kivumbi has been remanded to Kitalya prison following 19 days incommunicado after his arrest. Kivumbi was on Wednesday produced before Butambala Magistrate’s court, where he was charged with inciting violence and holding an unlawful assembly. He had earlier been held at Nateete police station
Besigye collapses in court, proceedings halted
Former presidential candidate Dr Kizza Besigye collapsed in court today, prompting an abrupt halt to proceedings. Court officials temporarily suspended the session to allow medical attention and give time for his recovery. Details about his condition were not immediately available by press time. Meanwhile, the prosecution has lined up a
