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In 2020 the borrower, Ham Enterprises applied to the high court of Uganda for orders among others that the lending by Diamond Trust Bank Kenya (“DTBK”), a Kenyan bank to the borrower Ham Enterprises (a Ugandan entity) was illegal on the basis that the Kenyan Bank engaged in financial institution business without due authorization and permission from the Bank of Uganda (“BoU”). The trial court ruled that the Financial Institutions Act (“FIA”) applies to foreign banks and it was illegal for money held on deposit, whether in Uganda or outside, to be lent without the approval of the BoU. The…
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President Museveni will tomorrow Wednesday, May 12, 2021, swear in for a new five-year term. This is after the Supreme Court confirmed his victory upon allowing the main contender, Robert Kyagulanyi alias Bobi Wine during the January 14 polls to withdraw his petition. Kyagulanyi withdrew his petition after Museveni’s lawyers and those who represented the Electoral Commission (EC) and the Attorney General filed responses in defense of Museveni’s victory. In the same vein, judges dismissed four of the applications filed by Kyagulanyi’s lawyers which also favoured Museveni. The CEO East Africa Magazine brings you who is who among those who…
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Byenkya, Kihika & Co. Advocates (BK), one of Uganda’s oldest and most respected corporate and commercial law firms has announced two partners at the firm. The partners are Dr Anthony C.K. Kakooza, a legal scholar and law don at Uganda Christian University and Makerere University, and Bazira Anthony, previously a Senior Associate at the law firm. The appointment of the duo now brings to six, the total number of partners at the firm. The other four partners are Oscar Kihika, the Managing Partner; Ebert Byenkya, a founding partner, Blaisie Paulsen, the former Managing Partner and Dinah Mukasa. Commenting about the…
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