Category: Business

Business
Uganda Bankers Association
Uganda Bankers Association refreshes with new leadership

The Members of the Uganda Bankers Association (UBA) elected Mr. Mathias Katamba as their new chairman during their annual General Meeting. In addition, he will be replacing Mr. Patrick Mweheire who served from the year 2018 to the end of 2019. Meanwhile, the replaced Mr. Mweheire Katamba is the chief Executive officer of DFCU bank […]

Business
Tropical Bank incurs UGX 24 Bn loss

Tropical bank 2019 financial results show that the bank’s losses rose by 314.3% Shs23.95bn in 2019 from Shs5.78bn loss recorded in 2018. The bank has been recording losses for four recurring years. The bank has become under-capitalized after incurring the biggest loss in the banking sector this year. Regarding the audited results published on Friday, […]

Business
Centenary, Absa, Stanbic non-operational branches

President Museveni’s directive to shut down private and public transport and invoke a curfew affected some banks from operating to their schedule due to staff transport means issues influenced by locality in some areas and safety of he staff from the spread of coronavirus. The Ugandan banking sector didn’t fully close as a result but […]

Business
Financial Fraud: Our system is secure, responds Centenary Bank

The Rural Development Bank popularly known as Centenary Bank raised its voice a few days back following the alleged financial fraud message which has been circulating on social media about their online banking system. In response to their customer community, Centenary Bank noted that their system is very secure, safe and not tampered with. They […]

Business
URA issues new tax administration measures amidst COVID-19 crisis

As the whole world is on the panic of the deadly roaming virus – COVID-19 crisis, most of the economies are losing out on the performance rate due to the affected business transactional channels world-wide. In Uganda, the business sector also seriously affected after the government instituted tight measures to curb the spread of coronavirus. […]

Business
Digida FM 106.5 collapses after 8 years

In the wake of COVID-19 where companies are expected to struggle with the unfortunate shrinking economy,some companies have started collapsing. It’s alleged that the Bukoto music local youth based station – Digida fm has been sold off to an unknown buyer whom we are yet to confirm with salaries arrears of a over a rune […]

Business
BOU governor Emmanuel Mutebile said to be very ill

BOU governor Emmanuel Mutebile said to be very ill. Emmanuel Mutebile, the legislative leader of the Bank of Uganda is sick and was on Saturday, March 28, 2020, admitted to Nakasero Hospital, insider sources have revealed to The Nile Post. Therefore, the sources said that Mutebile as of late visited State House in Entebbe ‘almost […]

Business
Doris Akol
Doris Akol: “It has been an honor to be your leader”

Doris Akol: “It has been an honor to be your leader”. Doris has in a passionate message said goodbye to Uganda Revenue Authority staff. However, President Museveni on Sunday evening supplanted Doris Akol as the Uganda Revenue Authority Commissioner General with prompt impact. “By the uprightness of forces allowed to me by the Constitution. I […]

Business
Trade minister Amelia Kyambadde
Trade minister Amelia Kyambadde issues the latest update in business

The Trade minister Amelia Kyambadde has today given an update on business following the president’s directives. In addition, yesterday the president of the Republic of Uganda suspended the usage of Public transport in the country. All public means, for example, buses, taxis, Boda-Bodas, and bicycles were all suspended for 14 days. However, the president said […]