In a financial sector often driven by balance sheets and bottom lines, Joseph Mugume has spent 25 years proving that sustainable growth begins with people. As Chief Executive Officer of...
As schools across Uganda reopen for the first term of the academic year, dfcu Bank has rolled out a nationwide back-to-school campaign aimed at easing the heavy financial burden that...
If ESG were a person, at Letshego Uganda, he/she would not be seated in a boardroom quoting frameworks. It would be on the road, on the phone, and occasionally on…
Eri Ssebowa is a seasoned finance and accounting professional with over nine years of progressive experience in strategic financial management, business partnering, financial reporting, and performance management across the banking,…
Following a reputational and financially bruising fraud scandal — in which the brewer estimates to have lost about UGX 9 billion — and the subsequent exit of its Heads of…
The Tax Appeals Tribunal (TAT) has disallowed a UGX 504,098,312 tax bill by Uganda Revenue Authority (URA) on asset-financing firm Tugende Limited, saying the tax authority wrongly assessed the tax. The 2 against 1 majority ruling follows an application by Tugende Limited arguing that the tax assessment was based on discounts to its customers who repaid their leases early, yet these should be allowable expenses. URA disagreed and issued an additional income tax assessment of UGX504,098,312 which the applicant objected to. Tugende was represented by Oscar Kamusiime and Linda Mugisha from Birungyi, Barata & Associates, while URA was represented by…
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The National Social Security Fund (NSSF) has defended its performance over the last 10 years before the Parliamentary Select Committee investigating the Fund. The committee is among others examining the circumstances surrounding the appointment of the Fund’s Managing Director, and evaluate the status and safety of savers’ money in the Fund. Chaired by Hon Mwine Mpaka, the Member of Parliament for Mbarara City South, the Committee is composed of Workers MP, Hon Charles Bakkabulindi; Mr. Karim Masaba (Industrial Division, Mbale City), Mr. Michael Kakembo (Entebbe Municipality), Ms. Fortunate Nantongo (Kyotera District Woman), Ms. Laura Kanushu (Persons with Disabilities), and Mr….
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Letshego Uganda, has reassured its customers and other stakeholders to ignore ongoing media reports that its CEO, Mr. Aijukwe Giles had fled the country, following an alleged sale of a borrower’s property. In a media statement released today, the company said the above allegations should be treated with the “contempt they deserve” as the CEO was on official leave and would return upon completing the leave. The company also dismissed allegations in the story that it had improperly sold off a client’s property, adding that the said property was sold legally, to the highest bidder. Below is the statement…
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With a blaring distress signal on and the blue top lights flashing, an ambulance rushed out of the gate at breakneck speed, leaving everyone at the health facility wondering what emergency had come up. No sooner had it joined the main road though than the siren went off and it turned out barely a few minutes later that the ambulance had been intercepted by Police, recovering a box containing 2,000 pieces of dexamethasone injectable drug under batch number 10313 from the suspects aboard. Guised as emergency cases being rushed from health facilities to the main hospitals, such thefts have in…
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Tower Corporation of Africa (Tower Co Africa), a company incorporated in Port Louis, Mauritius has acquired 90% of Ubuntu Towers Uganda Limited (UBUNTU). Tower Co Africa is a wholly-owned subsidiary of the Axian Group Mauritius with a reported USD 1.3 Bn in total revenue in 2021. Axian is a pan-African group that operates in ten countries and is invested in telecoms, financial services, real estate, energy and open innovation. Madagascan billionaire Hassanein Hiridjee, the Axian Group CEO. The Group was founded and is owned by Madagascan billionaire Hassanein Hiridjee, who is also the Group CEO. Hasssanien was named one of…
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Mark Ocitti Ongom, has been appointed, the Managing Director of Kenya Breweries Limited (KBL) effective 1st March 2023. KBL is the largest of East African Breweries Limited (EABL) operations, accounting for 64% of the EABL business followed by Uganda which accounts for 20% and Tanzania, 16%. Mark is replacing John Musunga, who left KBL in October 2022 to join Guinness Nigeria, a Diageo subsidiary West Africa. John Musunga replaced Baker Magunda, another Ugandan, who retired from the group. Mark has been the Managing Director of Serengeti Breweries Ltd in Tanzania, where he will be replaced by one Dr. Obinna Anyalebechi,…
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Kampala Parents School has continued its winning streak in the Primary Leaving Exams, with 291 out of the 410 pupils who sat the 2022 Primary Leaving Exams (PLE) passing in first grade. This is an equivalent of 71 per cent. This is 5 times above the national average and 2.3 times the average of first grades in private schools. According to the national results released yesterday by the Ministry of Education & Sports, 14.1% of the students who sat (114,617), passed in division 1 and 44.1% (357,799) passed in division 2. 31.4% of pupils in private schools only (77,039) passed…
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In most parts of the country, parents must spend money, travelling long distances to the school or bank to pay school fees, PTA contributions, or other school-related fees. While travelling or waiting in lines at schools or banks, parents miss opportunities to make money at their jobs, farms, shops or market. Schools equally face difficulties and expenses trying to account for all school fee payments, follow up on missing payments, and track hundreds of paper receipts, especially where parents make multiple payments in a term. This can in extreme cases prevent children from being in the class due to misplaced…
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VisionFund Uganda, a Christian Microfinance Institution affiliated to VisionFund International and World Vision International, has appointed Ms. Sarah Yvonne Byabazaire as the Chairperson of its Board of Directors. Sarah is a seasoned banker with over 10 years of senior and organisational leadership experience in the financial services sector and a wealth of expertise in organisational governance, banking, strategic project planning, and management. A quality management consultant and presently the Deputy Director of AG Quality Consultants (AGQC), Sarah brings on board, over 12 years of financial services experience gained from working for Barclays Bank (now ABSA), and Stanbic Bank, where she…
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Dr. Ezra Muhumuza Rubanda was appointed to run the affairs of the Uganda Manufacturers Association and oversee the secretariat’s activities. UMA, is a membership-based organisation representing small, medium and large manufacturers in every business sector of the economy. With about 1500 members, the UMA is an influential voice of the manufacturing fraternity and the leading advocate for a policy agenda that helps manufacturers compete in the regional and global economy. Dr. Muhumuza is a renowned economist who has served in various capacities under the Office of the Prime Minister; the Ministry of Finance, Planning and Economic Development (MoFPED) and the…
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