Global Economy Set for Weakest Run Since 2008 Outside of Recessions
Heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recessions, according to the World Bank’s latest Global Economic Prospects report. The turmoil has resulted in growth forecasts being cut in nearly 70% of all
Equity Bank Uganda Faces Backlash Over Alleged Unauthorized Withdrawals
Equity Bank Uganda is once again under fire after a customer accused the institution of withdrawing a significant amount of her savings without her permission. According to a social media post cited by Daily Star, the disgruntled client claimed she had Shs 8 million in her account. However, she was stunned to
Local Distributor Reaches New Heights Through Coca-Cola Partnership
Peter Rwabunyegera, an Official Coca-Cola Distributor (OCCD) with Coca-Cola Beverages Uganda (CCBU), is celebrating a remarkable journey of growth and resilience as he marks a decade of operation in Mbarara. Peter’s distribution journey began in October 2013 at Kizungu Market, Mbarara. What started as a modest operation has since grown
Court Dismisses Roko’s Bid to Halt Shs 1.5 Billion Payout to Pramukh Steel
Roko Construction Company has suffered a legal setback after the High Court declined its application to stop the enforcement of a judgment requiring it to pay more than Shs 1.5 billion to Pramukh Steel Limited. Presiding over the matter, Justice Dr. Ginamia Melody Ngwatu ruled that Roko had not met
Capt. Roy: The Rise and Fall of DAS Air Cargo
Captain Joseph C. Roy, a brother to Capt. Francis Babu and his wife, Daisy Roy, founded Dairo Air Services in 1983 in Uganda. The company later rebranded as DAS Air Cargo. They developed a cargo route network connecting Europe to 20 destinations across Africa, the Middle East, and Asia, with main
MTN MoMo championing digital agribusiness and health access
MTN Mobile Money Uganda Ltd extended its 2025 edition of the 21 Days of Y’ello Care campaign to Luwero District, marking the second major activation of this year’s employee volunteerism initiative. Following its initial launch in Kampala at the Kabalagala Youth Centre, the campaign now deepens its grassroots impact with
World Bank Lifts Loan Ban on Uganda After Two-Year Hiatus
The World Bank has officially lifted its two-year suspension on new loans to Uganda, a freeze initially imposed in response to the country’s enactment of the 2023 Anti-Homosexuality Act. The move marks a significant policy shift, balancing development priorities with human rights concerns. The 2023 legislation, which drew widespread condemnation
AFC Champions Shift of $4 Trillion in Domestic Savings into Africa’s Infrastructure Transformation
Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, today publishes the most comprehensive and up-to-date picture of Africa’s investable capital landscape—revealing over $4 trillion of domestic savings in banking assets, institutional funds and reserves. The research in the 2025 edition of the State of Africa’s Infrastructure (SAI) Report
PostBank Uganda rebrands to serve clients better
PostBank Uganda is set to rebrand as a Tier I commercial bank under the new name Pearl Bank Uganda Limited, pending final approval from the Bank of Uganda. The rebrand is part of the bank’s broader strategy to enhance service delivery and strengthen its position in Uganda’s competitive banking sector. The
Court Sentences Lubega to Six Months in Prison for impersonating Commissioner General URA
The Anti-Corruption Court has sentenced Lubega Mohammad to six months’ imprisonment at Luzira Prison after he was found guilty of impersonating the Commissioner General of the Uganda Revenue Authority (URA), John Musinguzi, and obtaining money by false pretenses from an unsuspecting victim, Kamugisha Joseph. It is alleged that on Sunday,
