MTN Suffers Another Blow, Loses Shs 13.9 Billion Fraud Case Against Threeways Directors
The High Court has acquitted Geoffrey Bihamaiso and Oscar Baitwa, directors of Threeways Shipping Services Ltd, in a high-profile fraud case in which MTN Uganda Ltd accused the pair of stealing USD 3.8 million (approximately Shs 13.9 billion). This is the second time in less than a month that MTN
Acquittal of ThreeWays directors in Shs 13.9 billion fraud case sparks outrage
In a ruling that has sent shockwaves through Uganda’s corporate and legal communities, the High Court’s Anti-Corruption Division on April 30, 2025, acquitted two directors of ThreeWays Shipping Services who were accused of orchestrating a $3.8 million (Shs 13.9 billion) fraud against MTN Uganda. The directors Geoffrey Bihamaiso and Oscar
UBL trains Farmers and Aggregators on Children’s rights and Protection
Uganda Breweries Limited (UBL) has held a child protection training at its site in Luzira, bringing together 40 smallholder farmers and aggregators from its supply chain. To further widen the impact, the participants are expected to train other farmers and other actors in the value chain. The session focused on
Ugandan Shilling Ends April Steady as Dollar Inflows Bolster FX Market
The Ugandan shilling closed April trading steady within the 3655–3670 range, supported by dollar inflows from commodity exporters and offshore investors, according to Richard Nsubuga, Acting Head of Trading at Absa Bank Uganda. Demand for hard currency remained subdued throughout the week. Looking ahead, we anticipate the shilling will retain
MTN hands over inclusive ICT Lab to Iganga Secondary School
MTN Uganda, through the MTN Foundation’s Digital Access Project, has handed over a fully equipped, inclusive ICT lab to Iganga Secondary School in Eastern Uganda. The state-of-the-art facility, designed to serve both learners with normal vision and those with visual impairments, marks a major step forward in advancing inclusive digital
Uganda Chamber of Energy and Minerals Repositions as Leading Voice in Clean Energy and Sustainable Mining
The Uganda Chamber of Energy and Minerals (UCEM) has repositioned itself as a national leader in clean energy advocacy aand sustainable mineral development a significant step in Uganda’s transition toward a greener, more inclusive energy future. The announcement was made today during a launch event at the Kampala Serena Hotel,
Falling Commodity Prices Could Mute Inflation Risks from Trade Tensions
Faltering economic growth is coinciding with ample oil supply in ways that are expected to drop global commodity prices to their lowest level of the 2020s, according to the World Bank’s latest Commodity Markets Outlook. The decline could moderate near-term inflation risks emerging from rising trade barriers, but it could also hamper
Court Orders DFCU Bank to Pay Shs 810 million Over Disputed Nakwero Land
The High Court Judge Susan Abinyo has ordered DFCU Bank to pay Shs 810 million in general damages to 27 claimants in a long-standing land dispute concerning property in Nakwero. In June 2012, Hosanna Real Estates Limited obtained a Shs 2.5 billion loan from Global Trust Bank Uganda Limited (GTB),
UDB, MD Ojangole listed for African Banker Awards 2025
African Banker magazine has announced the shortlist of nominees for this year’s edition of its annual African Banker Awards with Uganda Development Bank [UDB] and its Managing, Director Patricia Ojangole being nominated in the categories of African Banker of the Year and ‘SME Bank of the Year, respectively. The Cooperative Bank of Kenya
Museveni Approves Elon Musk’s Starlink Following Successful UCC Application
Ugandan President Yoweri Museveni announced yesterday that he had a “productive meeting” with representatives from Elon Musk’s satellite internet company, Starlink, which is seeking to establish operations in Uganda. Starlink, a unit of SpaceX, has reportedly submitted a license application to the Uganda Communications Commission (UCC). The company is aggressively
