Uganda Electricity Distribution Company Limited (UEDCL) has secured a five-year financing facility worth USD 50 million (about UGX 190 billion) from Absa Bank Uganda to fund urgent upgrades to the…
The Ministry of Energy and Mineral Development has instructed the Board of the Uganda Electricity Distribution Company Limited (UEDCL) to carry out a comprehensive investigation into the performance and conduct…
A subtle but consequential confrontation is unfolding between the Engineers Registration Board (ERB) and the Kampala Capital City Authority (KCCA) over the ongoing redevelopment of the Nakivubo Channel, one of…
The Uganda Revenue Authority (URA) has firmly defended its acquisition of additional office space at Pearl Tower on Yusuf Lule Road, Kampala, framing the decision as a strategic necessity driven…
Uganda wants to double its tourism revenues, raise annual visitor arrivals to 1.9 million by 2026, and grow the sector’s contribution to GDP to 10% by 2040. But beneath these...
Dr. Gerald Banaga-Baingi has been appointed the Chief Executive Officer of the Uganda National Mining Company, and will assume duties effective May1st, 2025. The mining company established under the Mining and Minerals Act, 2022, is a wholly state-owned enterprise mandated to manage Uganda’s commercial interests in the minerals sector. Dr. Banaga-Baingi is an accomplished Resource Economist with extensive experience in the mining, petroleum, and minerals sectors. Previously, he worked with the National Water and Sewerage Corporation as a Data Control Officer under the Kampala Revenue Improvement Project before joining the Ministry of Energy and Mineral Development. Rising through the ranks,…
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A leaked memo from the Office of the Prime Minister reveals that the government of Uganda plans to review and possibly approve borrowing proposals amounting to over USD 1.6 billion (UGX 5.8 trillion) during a cabinet-level meeting scheduled for Wednesday, March 26, 2025. The meeting, convened by the Prime Minister, is expected to consider 12 separate loan requests from various ministries and government agencies, targeting key sectors such as roads, energy, water, health, agriculture, and financial services. Loan proposals listed in the memo: €186.97 million and an additional €19.46 million from the African Development Bank for the Busega–Mpigi Expressway. €198.6…
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Paul Bwiso, the Chief Executive Officer of the Uganda Securities Exchange (USE), has been appointed the new Chairman of the East African Securities Exchanges Association (EASEA), following the association’s 34th…
Energy Ministry Permanent Secretary Irene Batebe has confirmed that the Auditor General’s report on Umeme’s buyout amount will be released next week, just a few days to the expiry of the power distributor’s 20-year concession. “Please note that Umeme is a going concern and till the last day of the concession, they [Umeme] could make an intervention on the network. The Auditor General is largely done but must factor all this in the final report expected by 28th, March,” Batebe told the CEO East Africa Magazine. According to the Investopedia website, the term ‘going concern’ in accounting refers to a…
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The government of South Sudan has strongly criticized what it perceives as biased and negative reporting by Uganda’s Daily Monitor newspaper, accusing the publication of undermining the cordial relations between…
Bank of Uganda is set to regulate operations of mortgage refinancing institutions once the Mortgage Refinance Institutions Bill, 2025 is passed into law. The Bill mandates the Central Bank to…
The European Union has significantly ramped up its support for Uganda’s crucial coffee and timber sectors, unveiling a 5000 metric tonne coffee processing facility and pledging further investment in sustainable…
The insurance industry registered robust growth rates in the first three quarters of 2024. The total gross written premium grew to Ugx.1.39 trillion in the third quarter of 2024 compared to Ugx.1.23 trillion recorded over the same period in 2023, registering a 13.51 percent growth. After analyzing the third quarter of the year, we expect this year’s performance to exceed last year’s because we have seen heightened business activity, which translates into more insurance products/services being consumed. The IRA CEO Alhaj Kaddunabbi Ibrahim Lubega puts the above in perspective in the following interview. What have been some of the sector’s…
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