Court Orders Shumuk to Pay Shs14bn Over Illegal Occupation of Katatumba Property
A long-running property dispute in Kampala has taken another decisive turn after the High Court Commercial Division ruled that businessman Mukesh Shukla, also known as Shumuk, and three of his companies unlawfully occupied part of Shumuk House, formerly Katatumba Suites. In its decision, the court ordered Shukla to pay about
Gov’t Courts New Alcohol Brands to Strengthen Economy and Jobs
Uganda has intensified efforts to attract foreign direct investment in manufacturing, with the Minister of State for Investment and Privatisation, Evelyn Anite, calling on global alcohol brands to establish production facilities in the country. Speaking at the launch of Offshore Vodka from Australia, Vodka Cruisers from New Zealand, and Tequila
World Bank Flags Uganda’s Rising Fiscal Pressures Amid Economic Growth
Uganda’s economic growth remains strong, with real gross domestic product (GDP) rising to 6.3 percent in FY2024/2025, up from 6.1 percent the previous year. A new World Bank report attributes this performance to a recovery in household consumption, accelerated government spending, and continued investment growth. The 26th edition of the
Inside Starlink Satellite Direct-to-Phone Internet
Earlier this year, SpaceX entered into a purchase agreement with EchoStar for 50 MHz of exclusive S-band spectrum in the U.S., along with global Mobile Satellite Service (MSS) spectrum licenses. This agreement enables the company to develop and deploy its next-generation Starlink Direct-to-Cell constellation, capable of providing broadband service directly
UDB Graduates 32 SMEs in Mbarara, Equipping Entrepreneurs with Investor-Ready Skills
Uganda Development Bank Ltd (UDB) has graduated a new cohort of Small and Medium Enterprises (SMEs) in Mbarara District through its Enterprise Development Program (EDP), providing them with the skills and knowledge necessary to become investor-ready. Through business advisory services, UDB prepares and positions both startups and established businesses to
Dfcu, IBM and Envision Global partner to Advance Digital Transformation
dfcu Bank has taken a major step in its digital transformation journey after signing a tripartite Memorandum of Understanding (MoU) with global technology leader IBM and IBM Platinum Partner Envision Global. The MoU was signed at dfcu Bank Head Offices in Nakasero, Kampala, and formalizes a long-term strategic partnership aimed at strengthening
Shilling Weakens as Dollar Demand Persists
The Uganda shilling weakened by approximately 0.56% during last week’s trading session, closing at Shs 3,570/3,580 against the US dollar amid unusually strong festive-season demand. Despite steady dollar inflows from commodity exporters, remittance firms, and charitable organizations, persistent hard currency demand from offshore entities, manufacturing companies, and energy firms outweighed
Uganda, Ethiopia push Africa’s coffee exports- Market Report
Exports of all forms of coffee from Africa rose by 21.9 percent in October 2025 to 1.73 million bags, up from 1.42mln bags in October 2024, according to the latest released by the International Coffee Organisation [ICO]. The Coffee Market Report November 2025 says Africa closed coffee year 2024/25 having shipped 19.69mln
How dfcu’s Weekend Loan Keeps MTN MoMo Agents Trading
Mobile money agents are the engine of Uganda’s everyday economy, and this is most visible on weekends. From Friday evening through Sunday, transaction volumes surge as customers trade, pay, and move money. The dfcu Weekend Agent Float Loan was designed with one clear purpose: to ensure agents never lose business simply
Uganda launches Okusevinga Money Market Trust Scheme to broaden investment access
The Ministry of Finance, Planning and Economic Development [MoFPED], in partnership with the Bank of Uganda [BoU], has launched the pilot phase of the Okusevinga Money Market Unit Trust Scheme, a new government-backed initiative aimed at broadening access to safe and affordable investment opportunities. Okusevinga is the first government-owned unit
