In a significant move to address a major financial scandal, the Ministry of Finance, Planning, and Economic Development has appointed Godfrey Ssemugooma as the Acting Accountant General. This decision follows the interdiction of nine senior officials implicated in a Shs 60 billion (USD…
The Permanent Secretary of the Ministry for Information Communication and Technology and National Guidance, Dr. Aminah Zawedde, has urged the new Airtel Uganda Managing Director Soumendra Sahu, to leverage ICT networks to create more jobs in the country. Dr. Zawedde…
In a significant milestone, Safaricom, Kenya’s leading telecommunications provider, has been awarded the title of Most Inclusive Brand by Kantar, a renowned research firm. This prestigious recognition underscores Safaricom’s dedication to embedding diversity, equity, and inclusion (DE&I) throughout its operations.…
Reeta Roy, the President and CEO of the Mastercard Foundation, has announced her decision to transition from her role after nearly 18 years of transformative leadership. Roy, who joined the Foundation in 2008, will continue to lead the organization through…
The rapid advancement of technology is transforming the business landscape, making production, sales, and revenue tracking more efficient than ever. Emmy Hashakimana, Commercial Director at Uganda Breweries Limited (UBL), highlighted the impact of technology on trade in East Africa, using…
A landmark investment opportunity is on the horizon for Uganda, as President Yoweri Kaguta Museveni recently met with a delegation of investors from Austria’s EcoNetix, a clean energy company. The discussion centered around a potential USD500 million (about Shs 1,839,755,000,000)…
The Government of Uganda, in partnership with Centenary Bank and the Private Sector Foundation Uganda (PSFU), has launched a groundbreaking initiative to empower women entrepreneurs through the GROW project. This project has already enabled over 2,073 women to access funds…
In a landmark ruling, the Tax Appeals Tribunal has ordered CFAO Motors, formerly Toyota Uganda, to pay Shs2.08 billion to the Uganda Revenue Authority (URA) in a Value Added Tax (VAT) dispute. The tribunal’s decision clarifies the application of Value-Added…
TDB Group and Anzana Electric Group (“Anzana”) announce the financial close and first utilization of a portfolio project debt package for two run-of-river hydropower projects in Burundi developed by Songa Energy. This USD 35 million 10.65MW long-term debt financing facility…
Dr. Fabian Kasi, the Managing Director of Centenary Bank, has revealed that the bank has invested over Shs200 billion in Ugandan startups since in the past few years. This significant investment has benefited over 5,000 enterprises, providing them with crucial…
In a move set to revolutionize the financial landscape of Uganda, MTN Mobile Money (MoMo) has introduced Digital Credit, an innovative financial service designed to provide individuals and businesses with convenient, secure, and affordable credit facilities. This groundbreaking service is…
In a bid to safeguard the interests of shareholders, the Capital Markets Authority (CMA) of Uganda has introduced stringent regulations regarding the appointment or replacement of Chief Executive Officers (CEOs) in companies operating within the country. This move is aimed…
The Uganda Tourism Board (UTB) announced today that its outgoing Chief Executive Officer, Lilly Ajarova, has been appointed as a Senior Presidential Advisor on Tourism. Ms. Ajarova, a respected figure in the Ugandan tourism industry, has served as UTB’s CEO…