Uganda Securities Exchange suspends UMEME after handover UEDCL
The Uganda Securities Exchange (USE) has suspended UMEME following the expiry of electricity distribution concession agreement and subsequent handover to Uganda Electricity Distribution Company Limited (UEDCL). Yesterday, government paid US$118 million (Shs 432.677 billion) to UMEME following the expiry of concession agreement. “USE hereby informs all investors and the general public that
Businessman Haruna Sentongo Loses Shs 10 billion Case Against I&M Bank Uganda
City businessman Haruna Sentongo, a brother to Hamis Kiggundu, has lost a Shs 10 billion case against I&M Bank Uganda Limited. In January 2019, Orient Bank Limited (now I&M Bank Uganda) sued Haruna Sentongo, seeking repayment of Shs 10.3 billion, accrued interest, general damages, and costs of the suit. In
Uganda Loses Shs 316 billion in the Medical Field Due to Corruption
Former Leader of Opposition, Winnie Kiiza, has dismissed claims that Uganda is a poor country, arguing that such descriptions arise because the nation’s leaders manage it with a “kiosk mentality.” Speaking at Parliament during the presentation of the 2025/26 Alternative Budget, Kiiza emphasized that Uganda’s financial struggles stem from mismanagement
Uganda Signs Shs 14.6 trillion Oil Refinery Deal with Alpha MBM Investments
In a significant move to strengthen its emerging hydrocarbons industry, the Ugandan government has signed an oil refinery implementation agreement with Alpha MBM Investments LLC to develop a $4 billion (Shs 14.6 trillion) oil refinery. President Yoweri Museveni confirmed the agreement, stating that the refinery will be constructed in Hoima
Church of Uganda opposes gov’t proposal to collect school fees through URA
The Church of Uganda has opposed the government’s proposal to collect school fees through the Uganda Revenue Authority (URA), arguing that the move would hinder school development. Speaking at Mengo Senior School during a Thanksgiving Service for the Directorate of Education Services—an event recognizing outstanding schools and individuals in the
Exclusive Story: Uganda loses Shs 604 billion following USAID aid cut
The Minister of Health, Dr. Ruth Aceng, has revealed that Uganda lost Shs 604 billion in funding due to the U.S. government’s decision to cut foreign aid worldwide. This funding supported crucial health programs, including HIV/AIDS, malaria, tuberculosis, nutrition services, and payment of salaries. Dr. Aceng made this appeal during
UPDF Seeks Shs 39.1 Billion for South Sudan Peacekeeping Mission
The Uganda People’s Defence Forces (UPDF) has requested an additional Shs 39.1 billion to support its recently launched peacekeeping mission in South Sudan. The request was presented to the Parliamentary Committee on Defence and Veteran Affairs by the Ministry of Defence, barely a month after the UPDF deployment in South
Why Uganda’s hospitality industry remains a good sector for investment
Authorities in Uganda are pushing for more investments, both local and foreign, in the hospitality sector as tourism and visitor numbers into the country increase over the years. This is also a strategy that positions Uganda as a competitive destination for international, regional conferences and festivals. Uganda Tourism Board (UTB),
Former Voice of America journalist Shaka Ssali is dead
The former host of Voice of America’s flagship weekly program Straight Talk Africa, Shaka Ssali is dead. Shaka Ssali was at the helm of Straight Talk Africa for more than two decades before his retirement. Shaka Ssali who was recently awarded a Lifetime Achievement Award for his contributions to media
Uganda secures Shs 18.3 trillion funding for Oil pipeline
The company behind Uganda’s East African crude pipeline (EACOP) has secured its first tranche of external financing from a consortium of institutions, including commercial banks and Afreximbank, EACOP Ltd announced on Wednesday. EACOP is a key component of a broader $15 billion (Shs 18.3 trillion) energy initiative led by TotalEnergies,
