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Succession planning is a crucial aspect of family businesses, yet many founders struggle to prepare their heirs for the responsibility of taking over the reins. In Uganda, the statistics are stark: 90% of family-owned businesses fail to survive the transition to the next generation, and even fewer make it to the third generation. However, the Kirumira family is bucking this trend. In a rare glimpse into the dynamics of a successful family business, Gideon Kirumira, son of tycoon Geofrey Kirumira, shares his experiences and insights on the importance of hard work, mentorship, and values in ensuring the continuation of generational…
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In what promises to be a long multi-billion legal battle pitting billionaire Sudhir Ruparelia largely against Bank of Uganda, his former bank Crane Bank (in receivership) and Dfcu Bank, who…
The Central Bank had statutory powers to take over Crane Bank, its assets and liabilities, but did it stretch this a little too far when it decided to claim 42 properties that were occupied by Crane Bank but belonged to Meera Investments? Did Dfcu’s transaction advisors and lawyers mislead them to fall for the Central Bank position even when they perhaps knew that Central Bank did not have regulatory jurisdiction over Meera, which is not a financial institution? Or did the potential benefits of a juicy Crane Bank takeover, blind Dfcu to the potential risks? Well, the daggers are out,…
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By Patrick Kagenda Shortly after being acquired from its original founders, Victoria University, which now is the first downtown University in Uganda`s capital Kampala, has promised to revolutionize university education in the country through offering a top quality studying environment. The University which is fully accredited by the National Council for Higher Education (NCHE) will offer 14 academic programmes through its morning, evening and weekend classes. The ultra modern, sound proofed 8 floor Victoria University campus located at plot 1-13 Jinja road has capacity to seat 3000 students at one go on all its 8 floors where it has lecture halls including a library and research labs that…
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