Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.
His body of work has contributed to policy change in private and public companies.
Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.
The Board of Directors of the Uganda Electricity Transmission Company Limited (UETCL) has confirmed Eng. Richard Matsiko as the company’s substantive Chief Executive Officer, replacing Mr. Joshua Karamagi, who resigned from the position last year. In a statement released on Friday, UETCL announced that Eng. Matsiko’s appointment follows his recent service as Acting Chief Executive Officer, during which he provided strategic leadership and oversight of the national power transmission utility. Eng. Matsiko is a seasoned professional in the electricity supply industry with more than three decades of experience. He began his career at the Uganda Electricity Board (UEB) on March…
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Uganda’s Auditor General Edward Akol has issued a wide-ranging warning to Parliament: the country is collecting more revenue than ever, yet persistent weaknesses in procurement, project execution, asset management, staffing, and programme governance are eroding service delivery and exposing public resources to waste, misuse and avoidable costs. The Annual Report of the Auditor General to Parliament — Key Highlights for the audit year ended 31st December 2025 paints a picture of a state under pressure. Revenue is rising, but so is public debt. Major national programmes such as the Parish Development Model (PDM) show progress in disbursement but also serious…
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Finance Trust Bank has outlined the next phase of its operations after receiving approval from the Bank of Uganda to continue business under a Tier II Credit Institution licence, effective…
What began as one of the most closely watched cross border banking acquisition plans in East Africa has now officially fallen apart. The proposed takeover of Uganda’s Finance Trust Bank…
The Bank of Uganda (BoU) has approved the transition of Finance Trust Bank Limited from a Tier I commercial banking licence to a Tier II credit institution licence, marking the…
Dangote Industries has appointed MTN Group Chief Executive Officer Ralph Mupita to the board of its fertilizer business as the company prepares to expand operations and pursue a listing in Nigeria. Dangote Fertiliser Ltd. Managing Director Vishwajit Sinha confirmed Mupita’s appointment in an email response to questions, according to Bloomberg News. The move comes as Dangote Industries, owned by Africa’s richest man Aliko Dangote, positions its fertilizer unit for growth and greater access to capital markets. The planned expansion and potential initial public offering would mark another major step in the conglomerate’s strategy of scaling its industrial businesses across Nigeria…
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Parliament’s Committee on Finance, Planning and Economic Development has pushed back against a proposal to waive UGX18.86 billion in tax arrears for Kampala-based engineering consultancy Newplan Limited, questioning both the justification for the relief and the company’s failure to remit statutory taxes despite involvement in lucrative national infrastructure projects. The tax waiver request, tabled yesterday, was presented by the Minister of State for Finance (General Duties), Henry Musasizi, who cited sustained financial distress, high indebtedness and the difficulty of recovering the taxes as grounds for remission under Section 43 of the Tax Procedures Code Act. The proposal covers outstanding Value…
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The Uganda Communications Commission has banned NBS Television from airing split-screen adverts during its news and current affairs programmes, ruling that the practice violates the UCC Advertising Standards 2019 and the Uganda Communications Act. In a decision that now sets a binding precedent for the wider broadcasting industry, the regulator has also directed all television stations in Uganda to immediately stop the practice during news and current affairs programming. The decision follows an arbitral complaint filed by Adlegal International Limited against NBS Television Limited, accusing the broadcaster of repeatedly violating the Uganda Communications Commission Advertising Standards 2019 by airing split-screen…
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Uganda has moved up to third position in Africa’s financial markets rankings, overtaking Nigeria and consolidating its position as the leading financial market in East Africa. According to the Absa Africa Financial Markets Index 2025, Uganda now ranks behind only South Africa and Mauritius on the continent, marking a significant shift in Africa’s financial markets hierarchy and underscoring the impact of sustained, multi-year reform across all six pillars of market development. This upward movement reflects a long reform trajectory that has prioritised institutional credibility, market openness, and resilience over scale. Uganda’s composite score of 66 places it ahead of Nigeria,…
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President Yoweri Kaguta Museveni has appointed Justice Flavian Zeija as the new Chief Justice of the Republic of Uganda, elevating a seasoned jurist, academic and administrator to the country’s highest judicial office as outgoing Chief Justice Alfonse Owiny-Dollo prepares for retirement. The appointment, announced by State House on Thursday, January 22, 2026, was made in exercise of the President’s powers under Article 142(1) of the 1995 Constitution, and followed advice from the Judicial Service Commission. Justice Zeija’s name was subsequently submitted to Parliament, where he appeared before the Appointments Committee for vetting and received parliamentary approval in accordance with constitutional…
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