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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The Dar es Salaam Stock Exchange (DSE) has posted another quarter of solid financial performance, signaling strong operational resilience and investor confidence amid a tightening regional economic environment. For the…
Customer complaints in the insurance sector have more than doubled in just three years, from under 150 to over 350. But to Chief Executive Officer Ibrahim Kaddunabbi Lubega, this isn’t…
Less than a year after Standard Chartered Bank announced plans to exit its Wealth and Retail Business (WRB) segment as part of a global restructuring strategy, the long-anticipated transaction has now materialized. Absa, just like many had projected, has stepped in as the acquirer, with the deal formally announced on 24 October, expected to transfer all Standard Chartered’s WRB clients, assets, and employees to Absa. It is one of the most significant realignments in Uganda’s banking sector in recent years, following Standard Chartered’s November 2024 declaration of intent to divest from retail operations to focus on its Corporate and Investment…
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At least UGX 88.1 billion remains unclaimed in closed mobile money and other e-money accounts, a Bank of Uganda report shows. The money, which is currently held Bank of Uganda (BoU), has been accumulating for over four years since the central bank took over the regulation of mobile money and e-money service providers. Details contained in the Bank of Uganda 2024/25 Integrated Annual Report indicate that during the 12 months to June 30, 2025, mobile money and e-money providers transferred UGX 10.8 billion in closed-account balances to the central bank for safekeeping. However, the report notes that by the reporting…
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The stock market continues to deliver standout opportunities for investors. Five locally listed companies posted exceptional returns that outpaced both government bonds and the National Social Security Fund (NSSF). The latest edition of the Black Diamonds Update by Crested Capital highlights counters that achieved total shareholder returns above 25% between January and September 2025. Bank of Baroda and QCIL lead the pack At the top of the list is Bank of Baroda (BOBU), which recorded a staggering 97.75% total shareholder return. This was driven by a sharp rise in its share price from UGX 22.25 at the start of the…
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The Alliance for National Transformation (ANT) has an ambitious plan to reset Uganda’s economic trajectory. In its manifesto, the party, led by Gen Gregory Mugisha Muntu, promises to steer the country away from what it calls a “consumption-driven, debt-laden model” towards a production-led economy. ANT argues that Uganda is endowed with natural resources and a youthful population that could drive transformation. Yet poor governance, corruption, and misplaced priorities have left millions trapped in poverty. Agriculture as the driver At the heart of ANT’s economic vision lies agriculture, which employs the majority of Ugandans. The party insists that no country has…
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When the Forum for Democratic Change (FDC) unveiled its 2026–2031 manifesto, attention quickly turned to its economic agenda. The party, one of Uganda’s largest opposition forces, is promising what it calls a “production-led” economic model, a shift from what it labels government’s “consumption-driven and debt-fueled” approach. In pages devoted to the economy, illustrated with charts and diagrammes, FDC sets out a plan for fiscal discipline, industrialisation, job creation, and equitable growth. Its core argument is that Uganda must reduce borrowing and imports, while boosting production, processing, and exports to achieve sustainable prosperity. The debt question Central to the manifesto is…
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A fixed deposit is the plainest promise a bank can make. Lock away your money for a set period, and in return, you get a guaranteed return. It is designed for savers who prefer certainty over speculation. But why do banks pay more for fixed deposits than for ordinary savings accounts? The answer lies in how banking itself works. Logic behind fixed deposits At its core, banking is a balancing act between borrowing and lending. Deposits are liabilities; loans are assets. Banks attract funds through current, savings, and fixed accounts. Current accounts offer liquidity but no interest. Savings accounts pay…
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For decades, Uganda’s trade story has been defined by its deepening integration into regional markets, rising dependence on Asia, and enduring ties with Europe. But when you look past the big numbers and focus on balance of trade, who buys more from Uganda than Uganda buys from them, the picture of Uganda’s “real” trading partners changes dramatically. Uganda’s external trade has expanded significantly in the past five years. Exports more than doubled from $5.3 billion in the 2020/21 financial year to $10.6 billion in the 2024/25 financial year. Imports also rose, from $8.3 billion to $13.2 billion over the same…
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