The National Social Security Fund (NSSF) has unveiled its mixed-use affordable housing project located at Temangalo, 17Kms from Kampala City Centre. When completed, it will comprise 3,500 houses of various types, retail and commercial spaces, community amenities including education, health and social facilities, a large neighbourhood green park, associated infrastructure including roads, electric power, sewage drainage and water supply, according to NSSF Managing Director Richard Byarugaba. Construction of Phase 1 comprising 550 units that include 200 bungalows, 100 town houses, 50 villas and 200 apartments and attendant infrastructure started in October 2021, and is scheduled to be concluded in June…
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Xente, a licensed Ugandan-founded financial technology platform that offers business payments solutions has announced its partnership with Visa, the global leader in digital payments to issue virtual and physical Visa business cards across businesses by enabling them make payments to online and offline vendors, disburse money and manage business expenses. Allan Rwakatungu, Xente’s Founder and CEO noted that the physical and virtual visa cards are specifically designed for businesses which allow businesses to pay globally anywhere visa is accepted. “This card, not only allows businesses to pay, but allows them to set payment policy to control where the cards are…
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Victoria University, a private charted university has on Monday launched the Students Loan Scheme to enable less privileged students to acquire higher level education. The Students Loan Scheme is funded by the Government of Uganda through the Higher Education Students Financing Board – HESFB This comes a fortnight after the University secured a Charter, after it was cleared by the National Council for Higher Education and signed off by President Yoweri Museveni. Wanyama Michael, Executive Director – HESFB said that after attaining her charter, the university now has all the necessary requirements to provide education support through loan scheme. The…
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Uganda’s Japheth Katto and Jimmy Mugerwa have been re-elected to the Board of East African Breweries Limited – EABL, a Kenyan-based holding company that manufactures branded beer, spirits, and non-alcoholic beverages. Jimmy maintains his position as the Director of the company whereas Katto continues as a member of the committee. This, according to Kathryne Maundu, the Company Secretary was passed at the annual general meeting for the year 2022 held on Thursday, 15th September. “It was proposed by James Patrick Okado, seconded by Peter Kanja Mwaniki and resolved by majority vote, that Jimmy Mugerwa be and is hereby re-elected as…
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Households living near TotalEnergies’ Industrial Area in Buliisa district have protested against failure by TotalEnergies, and its sub-contractor MontaEngil, to mitigate the Tilenga oil project impacts on them. The Industrial Area is being developed in Kasinyi village, Ngwendo sub-county. It will host a Central Processing Facility (CPF) among other oil infrastructure under TotalEnergies’ Tilenga oil project. In 2021, TotalEnergies sub-contracted MontaEngil to undertake site preparation works such as site clearance, fencing and drainage works in the Industrial Area. Communities say that they have suffered many impacts since MontaEngil started work. “During the dry season early this year, dust from the…
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The European Parliament has passed an emergency resolution to stop the ongoing works on Uganda-Tanzania oil project citing human rights violations and environmental threats. Total East African Crude Oil Pipeline (EACOP) would be the largest heated oil pipeline in the world, expected to start producing in 2025 and to reach a cumulative plateau production of 230,000 barrels per day. More than one hundred thousand families and farmers are already being displaced from their lands, and critics say if completed the pipeline would generate over 34 million tons of CO2 emissions every year, and threaten protected wildlife. The Parliament expresses grave…
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dfcu Bank has launched a paperless account opening solution that allows existing customers to open an account online, using dfcu QuickBanking, the Bank’s digital banking platform. Through the campaign dubbed ‘Secondary Account Ku-Spot’, the solution offers customers the option to open Current or Savings accounts anytime, anywhere using the dfcu QuickApp. According to the dfcu Bank Head of Alternative Channels, Lloyd Jonathan Busuulwa, this new offer is another milestone in dfcu Bank’s digital transformation agenda, that focuses on providing modern banking solutions that meet the unique needs of today’s customers, while ensuring faster, safer, and enhanced user experiences. “With this…
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As preparations for Uganda’s oil production nears completion, CNOOC Uganda Limited, an oil and gas company has announced that its first batch of CNOOC Operated Oilfield Drilling Equipment will be in Uganda soon. “Steps to first oil. @CNOOCUgandaLtd Kingfisher oilfield rig reaches Mombasa port and will soon be in Uganda. We are committed to delivering first oil to Uganda and there’s no turning back,” the company announced on Twitter. Recently, the company launched the heavy goods vehicle (HGV) drivers training and licensing program 2022 that will see 110 drivers trained, licensed and certified to professionally drive heavy goods trucks and…
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Peter Ochen, the experienced finance manager, expert in digital finance, working capital, debt management, forex, funding and investment management is Uganda’s telecommunication giant – MTN’s Mobile Money General Manager. He has been at the company for about 15 years, 10 of which he was the Senior Manager Treasury and MFS right from December 2011 to September 2022. In this role, Ochen was tasked on refinancing arrangement and servicing, working capital management, currency and interest rate exposure management, credit, counter party arrangements and bank guarantee management and investments management. Other responsibilities included; dividend management, Mobile Money Finance management, management of banking…
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The Islamic Development Bank (IsDB) has approved US$295 million for Upgrading Ugandanl Roads under Sovereign Financing Projects and US$100 million for East Africa Crude Oil Pipeline (EACOP) Project under Public Private Partnership (PPP) Projects. The Sovereign Financing Project aims at boosting the socio-economic development of Uganda by providing better access to social infrastructure, facilitating access to markets for farmers and traders, and reinforcing regional integration and tourism. “The project (EACOP) will enable Uganda, a landlocked country, to emerge as a regional oil producer with export capacity to international markets. The objective of the project is to enable Uganda to exploit…
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