When UMEME’s concession ended in March last year, the market assumed finality. Power lines would keep running, but value, many believed, had gone with the concession. The share price, according to an analysis from Crested Capital, at UGX142, told that story clearly of a company at the end of its road. But then came an arbitration, which perse, is not an epilogue, but opened a second chapter. In June last year, Umeme escalated a $292m compensation claim against the government of Uganda in a London arbitration. Weeks of talks had failed to end the stalemate over compensation for unrecovered assets…
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Pearl Bank’s transition from PostBank marks the culmination of a five-year transformation journey—one that has modernised its operations, expanded its national footprint, and positioned the institution as a digital-first champion of financial inclusion in Uganda, as the CEO East Africa Magazine, Muhereza Kyamutetera, writes. The Bank of Uganda (BoU) has applauded Pearl Bank Uganda Limited for its seamless transition from PostBank, following a courtesy visit by Managing Director & CEO Julius Kakeeto to Governor Dr Michael Atingi-Ego. The courtesy meeting at BoU featured a symbolic handover of Pearl Bank’s operating license—originally issued earlier on 10th September 2025—marking yet another key…
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In Uganda’s evolving entrepreneurial landscape, where the promise of economic independence often fades at the gates of gender inequality, dfcu Bank is quietly building a different gateway. One designed not…
The Court of Appeal has upheld a High Court decision ordering Imperial Royale Hotel, one of Kampala’s flagship luxury hotels, to refund government $1.46 million (about UGX 5.05 billion) and pay UGX 800 million in general damages, for what judges described as a fundamental breach of contract tied to preparations for the 2007 Commonwealth Heads of Government Meeting (CHOGM). In a unanimous ruling delivered on November 4, 2025, justices Moses Kazibwe Kawumi, Irene Mulyagonja, and Oscar John Kihika dismissed the hotel’s appeal in its entirety, bringing to a close one of the most enduring and controversial legal battles from Uganda’s…
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When billionaire businessman John Ssebalamu acquired twenty parcels of land in Rubaga, Kampala, his vision was to build a state-of-the-art shopping mall that would transform the city’s retail landscape. The…
Hundreds of innovators/entrepreneurs graced the Uganda-EU Business Insights 2025 held on Thursday, February 13 at Mestil Hotel, Kampala. The event, organized by the European Union (EU) Delegation to Uganda in partnership with the Government of Uganda and Private Sector Foundation Uganda, also brought together industry leaders, and policymakers, to explore innovative solutions in Agricultural Technology and Sustainable Mining. The day-long event that had I&M Bank Uganda as a partner offered business-to-business, business-to-investor, and business-to-government matchmaking platform, connecting European investors with Uganda’s agriculture and mining innovators and entrepreneurs. The activities included panel discussions addressing key challenges and exploring innovative solutions in…
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Wendi mobile wallet developed by PostBank has revolutionized the payment process for the Parish Development Model (PDM) program through its innovative digital platform. By leveraging cutting-edge technology, Wendi has successfully digitized PDM payments, reducing processing time, increasing efficiency, and promoting financial inclusion. Prior to the introduction of Wendi, PDM payments were manual, time-consuming, and often plagued by delays. However, with Wendi’s digital platform, payments are now processed in real-time, reducing the time taken to disburse funds from weeks to mere minutes. “Wendi has transformed the way we make PDM payments,” said George Kiyingi, Head of Agent Banking and Fintech Distribution…
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The Government of Uganda has deactivated 4,149 employees from the January 2025 payroll following a second-round validation and headcount exercise conducted by the Ministry of Public Service. This decision was communicated in an official letter dated January 16, 2025, signed by Mrs. Catherine Bitarakwate Musingwiire, the Permanent Secretary of the Ministry of Public Service. According to the letter, the validation exercise carried out from March 11 to June 28, 2024, revealed significant payroll irregularities that led to the Cabinet’s directive for immediate action. Mrs. Musingwiire highlighted the following key findings from the exercise: Unaccounted Employees: 2,967 employees failed to report…
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Citi today announced a EUR 126 million loan to the Government of the Republic of Uganda to fund the design and build of the Lusalira to Sembabule road project in Uganda. Citi acted as the sole coordinating Mandated Lead Arranger and a lender. The financing was supported by African Trade and Investment Development Insurance (ATIDI) and the Development Bank of Southern Africa (DBSA). Banks in the syndicate include Absa Bank (Mauritius) Limited. The Lusalira to Sembabule road project is expected to link the national road network to the west of the country, playing a significant role in its socio-economic development, in…
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Government will in the Financial Year 2023/24 redirect resources towards wealth creation by facilitating more Ugandans to join the money economy and accelerate the economy’s rapid expansion, the Finance Ministry Permanent Secretary/ Secretary to Treasury Ramathan Ggoobi has said. He said this on June 16th 2023 during the 2023 Post Budget Dialogue organised by Absa Bank Uganda in partnership with Deloitte and NTV Uganda under the theme “Managing risks, vulnerabilities that await implementation of the FY 2023/24 National Budget”. According to Ggoobi, the Government is looking to accelerate the full monetization of the economy to achieve socioeconomic transformation. Key focus…
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