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For decades, the story of Uganda’s agriculture has been one of bittersweet potential. We sing about being the Pearl of Africa, blessed with fertile soils and two rain seasons, yet every harvest, we watch heart-wrenching scenes of mangoes, oranges, and tomatoes rotting in the gardens of Teso, Acholi, Lango, and West Nile. At Nilezilla, when we set out to change this narrative with our fruit processing facility in Lodonga, Yumbe District, we learned quickly that “potential” does not pay the bills. Value addition does. But moving from a garden to a supermarket shelf is not a simple walk in the…
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My first encounter with dfcu was in the early 1970s, a period when the Uganda Development Corporation (UDC) and dfcu were pivotal players in the nation’s development finance sector. It was in 1972 when I joined dfcu as a Junior Executive, reporting directly to the General Manager. At the time it was known as the Development Finance Company Uganda. However, shortly after this, Uganda experienced a significant economic setback due to Idi Amin’s expulsion of the Asian community, a decision that, in my view, derailed the country’s economy for many years. Despite these challenging times, dfcu has shown remarkable resilience…
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Auditor General John Muwanga has, in his latest report, faulted private shareholders of the Atiak Sugar Factory for failing to provide their capital contribution to the company leaving the burden to the government. The government owns 40 per cent of the shareholding of M/S Horyal Investment Holding Company (HIHC), the implementing company for Atiak Sugar Factory. The rest of the 60 per cent shareholding is owned by private investors. The Auditor General noted that the government fully contributed its 40 percent share capital amounting to UGX 80 billion, and provided shareholder’s loans to the company. On 30th October 2017, the…
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Uganda Development Corporation (UDC) the Uganda government’s private sector investing arm, is to acquire an undisclosed number of shares in East Africa Medical Vitals (EAMVL), a medical glove-making company belonging to businessman, Ben Kavuya. The two entities in July this year signed an investment partnership agreement for UDC to make an equity investment into EAMVL, said to be the first medical consumables manufacturing plant of latex surgical and examination gloves in Uganda and one of a few in Africa. Dr. Patrick Birungi the UDC Executive Director signed on behalf of his company, while Ben Kavuya, the EAMVL Chairman, signed on…
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The construction of the epic Speke Resort Convention Centre in Munyonyo, on the shores of Lake Victoria is on schedule and should be completed by November 2023, Ruparelia Group the project’s co-developers have said. Conducting a media tour of the project today, July 18th 2023, Dr. Sudhir Ruparelia, the Ruparelia Group Chairman said that the project’s structural works which only started in November 2022, have reached 64% and will be soon complete to allow for fittings and finishings. “Ruparelia Group, through our two subsidiaries, Speke Hotels and Meera Investments, is sparing no effort to ensure that we deliver this key…
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Court has dismissed, with costs, an application in which the Uganda Development Corporation (UDC) and its Executive Director, Dr Patrick Birungi had sought to halt an order requiring them to fill vacancies at the level of managers of departments. The 2020 court order directed Dr Birungi to also promote and externally hire without the involvement of and the approvals from the executive committee of UDC and adherence to human resource manual which is illegal. High Court judge Musa Ssekaana ruled that an order passed by a competent court should be allowed to be executed unless a strong case is made…
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