Uganda Airlines, the country’s flagship carrier and one of the government’s most ambitious public investments in recent years, has been placed under formal investigation by the State House Anti-Corruption Unit…
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…
Edward Akol assumed the mantle of Auditor General in January 2024, bringing with him a renewed sense of purpose and determination. His foreword to the annual report underscores his commitment to impactful audits that enhance service delivery. Under his leadership, the Office of the Auditor General (OAG) conducted an impressive 2,832 audits, covering Ministries, Departments, Agencies (MDAs), local governments, and state enterprises—a testament to his dedication to thorough oversight. A key innovation under Akol’s watch was the introduction of the Combined Audit Report (CAR), which consolidates financial, compliance, performance, and special audit findings into a comprehensive document. This approach enhances…
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Uganda, a major recipient of America’s foreign aid, could find herself in a tough position after the 47th President of the United States of America, Donald Trump issued an executive order halting all foreign development assistance pending review in a manner that aligns, and is consistent with Trump’s new government priorities. “The United States foreign aid industry and bureaucracy are not aligned with American interests and in many cases antithetical to American values. They serve to destabilize world peace by promoting ideas in foreign countries that are directly inverse to harmonious and stable relations internal to and among countries,” the…
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Government offices have continued to default on water bills which have ballooned to UGX 73 billion as the burden shifts to ordinary Ugandans who shoulder most of the payments. Details submitted to Auditor General Edward Akol, reveal how National Water and Sewerage Corporation (NWSC) receivables, or amounts yet to be paid, clocked UGX 355 billion in water bills, out of which over UGX 72.5 billion (20%) relates to unpaid bills by Government Ministries, Departments and Agencies (MDAs). Some unpaid bills have been outstanding for more than two years. The Auditor General noted that the matter of unpaid bills was brought…
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The gambling industry in Rwanda is undergoing a transformative shift as the government rolls out its Rwanda Gambling Policy, a comprehensive framework designed to ensure that the sector contributes positively to the economy while safeguarding public health and social well-being. This policy is set to address critical regulatory gaps, offering a forward-looking approach that balances economic growth with responsible gaming practices. Until July 2024, the Ministry in Charge of Trade and Industry (MINICOM) was responsible for regulating and implementing gambling policies in Rwanda. However, a Prime Minister’s Order issued in July 2024 transferred these regulatory responsibilities to the Rwanda Development…
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Rwanda has become an increasingly attractive destination for international companies looking to establish their headquarters or regional offices in Africa. Through its progressive policies outlined in the Law N° 006/2021 of 05/02/2021 on investment promotion and facilitation (the “Investment Code”), Rwanda offers a range of incentives designed to stimulate foreign direct investment (FDI) and drive economic growth. These incentives, which include significant tax benefits and flexible immigration policies, make Rwanda a highly competitive business hub. Below is a detailed overview of the advantages that investors who set up their headquarters in Rwanda can expect. Zero Percent Corporate Income Tax One…
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Rwanda’s rapid development and business-friendly environment have attracted increasing foreign interest in real estate and agricultural investments. However, the country’s land rights framework is complex and uniquely shaped by its history and development goals. This article aims to provide a comprehensive overview of the legal framework surrounding land ownership, acquisition, and utilisation in Rwanda, with a focus on foreign investors. Historical Context and Recent Reforms Rwanda’s land tenure system has undergone significant transformations since the 2004 National Land Policy and the 2005 Organic Land Law. These reforms aimed to address historical inequalities, promote efficient land use, and provide security of…
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In his end-of-year address delivered on December 31, 2024, President Yoweri Kaguta Museveni outlined Uganda’s economic achievements and priorities for the coming year. Speaking from Rwakitura, the President emphasised economic resilience, agricultural reforms, and investments in critical infrastructure as key pillars for Uganda’s development in 2025. Economic Resilience Amid Challenges President Museveni highlighted the country’s economic stability, praising Uganda’s low inflation rates as a testament to robust agricultural and livestock activities. He noted that Uganda’s coffee exports had thrived, driven by global demand and weather challenges in competing nations like Brazil and Vietnam. “I congratulate Ugandans on the good coffee…
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Many analysts agree that the Ugandan economy in 2024 exhibited remarkable resilience, navigating a landscape fraught with global uncertainties and regional challenges. At the centre of this performance was Dr Michael Atingi-Ego, Deputy Governor of the Bank of Uganda (BoU). In his end-of-year reflections, Dr. Atingi-Ego highlighted the pivotal actions underpinning this economic stability, crediting a mix of strategic monetary policies and innovative reforms. Here are ten standout actions he led to stabilise the economy: 1. Stabilizing Inflation Uganda maintained one of Africa’s lowest and most stable inflation rates in 2024. The BoU raised the Central Bank Rate (CBR) from…
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Rwanda’s vision of becoming a prominent financial hub makes a substantial advancement with the New Law nº 044/2024 of 30/05/2024 governing banks (the “Banking Act” or the “New Banking Act”). The New Banking Act is enacted following the parliamentary review of the Law nº 47/2017 of 23/09/2017 governing the organisation of banking (the “Repealed Banking Act”). The New Banking Act contains substantial updates to the existing framework and reflects Rwanda’s commitment to fostering a dynamic and adaptable financial sector. 1. Key Drivers of the Reform & Aligning with Evolving Needs Rwanda’s financial sector is undergoing a significant transformation driven by…
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Extensive progress has been made on the East African Crude Oil Pipeline (EACOP) project, with the construction of a high-tech oil export terminal in Tanga – Tanzania, attaining crucial targets. The facility, a cornerstone of the 1,443-kilometer pipeline linking Uganda’s Lake Albert oilfields to Tanzania’s Indian Ocean coast to access international oil markets, is designed to position East Africa as a key player in global energy markets. Ambassador (Rtd.) Col. Fred Mwesigye, leading a delegation from the Ugandan High Commission in Tanzania and the Petroleum Authority of Uganda (PAU) on a tour of various EACOP facilities in Tanzania, praised the…
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