The past five years have not gone particularly well for Uganda’s billionaire class. Once the undisputed symbols of local enterprise and ambition, several of the country’s most prominent businessmen have found themselves entangled in complex financial and legal battles — most of them involving commercial banks and cross-border lenders. Among them, Hamis Kiggundu, the property and retail magnate behind Ham Enterprises, waged one of Uganda’s most closely watched banking disputes. His companies owed USD 4,014,444 to Diamond Trust Bank Uganda and USD 6,974,600 to Diamond Trust Bank Kenya — a combined USD 10.99 million (approximately UGX 40 billion) in credit…
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When Uganda’s Supreme Court hears the final appeal in Kampala International University Limited vs Housing Finance Company Limited (Kenya), it will not only be deciding the fate of a legal contest. It will also be ruling on the financial lifeline of one of Uganda’s most enduring business empires: the Basajjabalaba family fortune. For Hassan Basajjabalaba, the flamboyant tycoon and political heavyweight, this is no longer a matter of law. It is an existential test. At stake is a UGX 80 billion liability, roughly $23 million, whose enforcement could trigger a chain reaction across the billionaire’s education, healthcare, tea export, and…
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The Industrial Court has ordered Uganda Airlines to pay its former Chief Executive Officer, Cornwell Muleya, more than UGX455 million following a ruling that found his dismissal illegal. In a detailed judgment delivered on October 24, 2025, by Justice Anthony Wabwire Musana, court held that Muleya’s suspension and eventual termination violated the Employment Act. Additionally, it contravened Uganda Airlines’ Human Resource Manual, particularly for failing to accord him a fair hearing before dismissal The award comes after a long legal battle that began when Muleya challenged his 2022 dismissal, arguing that he had been unfairly removed without due process. Court…
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In a move that emphasizes its ambition to lead Africa’s broadband revolution, AXIAN Telecom Fibre Ltd (“Yas”), a subsidiary of AXIAN Telecom Holding and Management PLC, has completed the acquisition of 99.63% of Wananchi Group (Holdings) Ltd (“Wananchi”), one of East Africa’s top fixed broadband and enterprise connectivity providers. The deal marks a major milestone in Yas’s pan-African growth strategy, significantly expanding its fibre footprint across Kenya, Tanzania, Uganda, and Malawi, with over one million homes now passed in the region. Boosting East Africa’s Broadband Momentum East Africa is rapidly emerging as one of the continent’s most dynamic broadband markets,…
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As the CEO of Letshego Uganda, Giles Aijukwe stands at the intersection of ambition and accountability, tasked with delivering financial growth in a sector still playing catch-up on inclusion. In this three-segment Q&A, the seasoned executive opens up about leading with conviction and building a values-based culture. What does “inclusive finance” truly mean to you, beyond the business jargon? To me, it is about dignity. It means ensuring that a market vendor in Gulu or a boda rider in Masaka has the same right to access financial solutions as a corporate professional in Kampala. It’s not charity; it’s creating systems…
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The Police Criminal Investigations Directorate (CID) is investigating Quillino Bamwine, who previously served as the Honorary Consul of the Kingdom of Eswatini to Uganda, for allegedly obtaining UGX 372 million (about $100,000) by false pretences. The case, registered under reference KMP GEF 285/2025, stems from a complaint by Joel Kakira, who claims he lost money in two aborted land-sale transactions in Kololo and Naguru, Kampala. In a letter dated October 21, 2025, police directed Bamwine to appear before the Deputy CID Commander, Kampala Metropolitan Police, on October 30, 2025, to respond to the allegations. Recurring theme Although it is not…
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When the story of modern Kenyan banking is written, few names will stand as quietly but as firmly as Frank Marangu Ireri’s. A man of numbers, systems, and deep conviction,…
In all of Uganda’s government programmes, no initiative has captured the spirit of grassroots transformation quite like the Parish Development Model (PDM).It is the most ambitious effort yet to connect public finance directly to ordinary citizens, taking government services, credit, and enterprise support to the parish—the lowest administrative level of Uganda’s economy. Launched in February 2022, the PDM seeks to transition 3.5 million subsistence households into the money economy by channelling resources to local communities. The results are already visible: UGX 3.29 trillion disbursed to over 2.4 million households, and financial inclusion rising from 77% in 2018 to 81% today….
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A new chapter in Uganda’s digital finance landscape is quietly unfolding as Stanbic’s FlexiPay and Pearl Bank’s (formerly PostBank) Wendi Wallet join forces to create one of the country’s most powerful interoperable payment ecosystems. Together, the two will drive over UGX 6 trillion in annual digital transactions, merging liquidity, inclusion, and innovation into a seamless financial network that connects over 1.5 million Ugandans. Fillings contained in the two banks’ 2024 financial reports tell of a partnership that could shape a new revolution in Uganda’s e-money ecosystem. Yet it introduces a new chapter of partnerships that will likely reshape how…
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By Asiimwe Arnold Kaka My reflections on this issue come from a place of experience — an encounter with an overzealous tourism enforcement officer that left me questioning how we…
