If there are any Ugandan CEOs in the hot seat, then it is Uganda Airlines’ Jennifer Bamuturaki and Uganda Electricity Distribution Limited’s Paul Mwesigwa. They run two strategic state enterprises, and both are under intense pressure at exactly the moment when politics, performance, and public frustration are converging. Some of the problems they face are inherited. Others stem from decisions made on their watch. But in state enterprises, where accountability is often as political as it is managerial, leaders can be sacrificed, sometimes not because they caused the crisis, but because they are the most visible symbol of it. A…
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Parliament has approved a proposal authorising the Uganda National Oil Company (UNOC) to borrow up to USD 2 billion (UGX 7.12 trillion) from Vitol Bahrain E.C. (VBA), a global trader in crude oil and petroleum products supply and marketing. The financing marks a decisive shift toward non-traditional financing to unlock oil-linked and national infrastructure projects amid tightening global capital for fossil fuel investments. The proposal presented by the Ministry of Finance in its capacity as a shareholder in UNOC builds on an existing commercial relationship between UNOC and Vitol Bahrain. In August 2023, Government, through UNOC, entered into a Petroleum…
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Government has tabled a UGX1.696 trillion supplementary budget request before Parliament’s Budget Committee, with UGX422.264 billion earmarked as an initial payment for the purchase of 10 aircraft for Uganda Airlines. The request was presented by Works and Transport Minister Edward Katumba Wamala, who appeared before the committee on Monday, 1 December, as MPs considered Supplementary Expenditure Schedule Two ahead of its adoption by Parliament in the plenary sitting scheduled for Tuesday. Gen Katumba Wamala told the committee that the supplementary request is intended to cover urgent financing gaps within the transport sector that could not wait for the next budget…
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The Ministry of Finance has made key concessions to Parliament’s budget demands, marking a shift in tone after last year’s heated disagreements between lawmakers and the Executive over funding priorities….
The Uganda Electricity Distribution Company Limited (UEDCL) has officially taken over the distribution network from Umeme Limited, marking the end of a 20-year concession period that began in 2004. This…
Uganda Parliament Speaker, Anita Among has today received the Auditor General’s report on Umeme which recommends a USD 118 (UGX 433 billion) Buyout amount for the unrecovered investments. Speaker Among…
The Uganda Parliament Speaker, Anita Among has forwarded the Auditor General’s forensic audit report on the alleged loss of over UGX 60 billion from Bank of Uganda (BoU) to the Uganda Police Directorate of Criminal Investigations (CID) for further investigations. Speaker Anita Among sent the report to the CID after it was laid before Parliament by the Government Chief Whip, Hon. Denis Hamison Obua on Thursday, 09 January 2025. The Speaker noted that she held consultations with President Yoweri Museveni and a decision was taken to have the report investigated further. “Looking at the ingredients of the report, they are…
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dfcu Bank has been unveiled as one of the key financial institutions that will champion and implement the GROW project across Uganda. GROW stands for Generating Growth Opportunities and Productivity for Women Enterprises. The announcement was made at an event hosted by the Private Sector Foundation Uganda (PSFU) to officially launch the initiative. The Vice President of Uganda, H.E. Jessica Alupo officiated over the event which was attended by multiple ministers, members of parliament, development organisation partners and female business owners. The GROW Project, funded by the World Bank, and implemented by the Ministry of Gender, Labour and Social Development…
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