By Mike Ssegawa While President Museveni was launching the National Medical Stores (NMS) pharmaceutical warehouse in Kajjansi, off Entebbe road, in November 2022, he made a statement on drug theft which should have woken us up to work towards zero theft of government medicines. The President said drugs bought by Ugandan taxpayers were on sale in the DRC and South Sudan open markets. These drugs are stolen by people known to many of us, but how come we don’t report these people in this racket? Amidst tight budgets, the government has consistently offered the health sector a big vote out…
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By Primrose Kobusingye On November 27, 2022, the world woke up to the grim news of the passing of Rupert Scofield (73). He has been described as the founder of micro-finance. In 1984, along with John Hatch, Rupert conceived an idea to form a village bank that gives people access to no collateral loans through a collective guarantee. This marked the start of the Foundation for International Community Assistance commonly known as FINCA whose impact has spread to 5 continents and 17 banks and Microfinance institutions across the world with a major focus on women. FINCA is a catalyst for…
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By Sarah M. Chelangat For years, tax compliance has eluded the tax man with slightly over 2 million taxpayers out of a population of 20 million working adults contributing to the tax base. Of the 2 million registered taxpayers, 50% are companies doing business in Uganda. This means a minimal number of individual Ugandans are contributing to the tax basket. In a bid to expand the tax base and bring more Ugandans to contribute to national development, Uganda Revenue Authority (URA) has introduced initiatives such as a mandatory Tax Identification Number (TIN) for motor vehicle transactions and government suppliers who…
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Standard Chartered Priority Banking is a segment under our Consumer Private and Business Banking business that offers a thoughtful bouquet of exclusive services, benefits and solutions to the Bank’s Affluent customers and their family members. We offer our clients top-notch exclusive banking services and benefits locally and globally. First and foremost, we have invested in an award-winning digital banking platform that enables our clients to manage their banking from anywhere. To ensure they receive expert financial advice, our Relationship Managers are trained to continuously guide our customers and are backed by investment and insurance specialists, again to guide our customers…
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By Phillip Karugaba, Rachel Musoke and Sheila Pacuto The Ugandan Court of Appeal, (in Diamond Trust Bank (Kenya)/Diamond Trust Bank (Uganda) vs Ham Enterprises Civil Appeal No, 262 of 2020), has set aside a decision that declared loans made by Diamond Trust Bank (Kenya) to a Ugandan business to be illegal on the grounds that the lender required and had not obtained a licence from the Bank of Uganda under the Financial Institutions Act 2004. The Appeal Court set aside the judgment and has sent the matter back to the High Court for retrial before another judge. In its decision,…
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Uganda’s Second Deputy Prime Minister and Minister of East African Community Affairs, Ali Muwaabe Kirunda Kivejinja has died. He was 85 years old. He was born on 12 June 1935 in an aristocratic family that traced its origin from the ancient Kingdom of Bunyoro Kitara, at the height of British colonial occupation of Uganda. Kirunda Kivejinja was a Prince of the Baisemenhya, one of the eleven royal clans of Busoga. He was a 7th Generation descendant of the late Omukama of Bunyoro, Agutamba Nyamutukura. Kivejinja’s grandfather Ali Muwaabe was the founder of Islam in Busoga. It is therefore not surprising…
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When did you decide to pursue a deejaying career & how did you get started? I was in my second year at my IT job in 2014 and I was getting a lot of deejaying jobs. Compared to the money I was getting from deejaying, the pay from the day job was really low. So since I had gotten my 2 years of experience on my cv, I decided to go all-in on the deejaying just in case it didn’t work out, I would have that at least. But it worked out. What were your earlier passions? Serious IT guy….
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As part of its Covid-19 response program, Uganda Development Bank (UDB) has just issued a call for applications for priority lending to selected sectors at not more than 12 percent interest. These include: food & beverages, textiles, clothing, leather & footwear (hides & skin), paper and publishing, packaging and wrapping materials, chemical & industrial products, timber, woodworks & furniture manufacturing, construction materials, pharmaceutical products, human & animal drugs manufacture and electricals. In this interview with CEO East Africa Magazine, Patricia Adong Ojangole, the Bank’s Managing Director shares more details on who qualifies and how to apply for the facility.
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Founded in 2003, Birungyi, Barata & Associates is one of the leading tax law firms in Uganda. Recognized by both locally and internationally by entities such as Uganda Law Society, East African Law Society, IFLR1000, Chambers & Partners and Global Law Experts among others, the firm wields over 240 years of combined tax and commercial law experience. The firm currently has two partners, three associates, four associate partners, two senior legal associates, four legal associates, and one legal assistant. The firm has approximately handled up to 35% of all tax litigation in Uganda, including some game-changing cases that have…
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By Celia Becker and Phillip Karugaba The recent ruling of the Tax Appeals Tribunal (“TAT”) in the case of Century Bottling Company v Uganda Revenue Authority (“URA”), has brought the discretion of the Commissioner-General of the URA sharply in focus. It is absolutely necessary and indeed important that in the exercise of their functions, public authorities exercise discretion. It is equally important that such discretion is properly exercised taking into account only the relevant considerations and for the proper reasons. The citizen has recourse to court to check the excesses of executive discretion. A public official is therefore not like the cultural…
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