Shs1 Trillion NSSF Lubowa Housing Project building kicks

Shs1 Trillion NSSF Lubowa Housing Project building kicks

The National Social Security Fund has officially commissioned the construction of the 2,740 unit, housing project in Lubowa, Wakiso district in its continued effort to expand its investment portfolio to give its members more competitive returns on their savings. The real estate project, which will cost an estimated USD 400 million over a 10-year period, […]

Co-op Bank will save Uganda the ’embarrassment of borrowing from China’

Co-op Bank will save Uganda the ’embarrassment of borrowing from China’

Civil Society organizations have joined the push for the revival of the defunct Uganda Cooperative Bank. The Bank, which provided low-interest loans to farmers through cooperative societies, was wound up in 1998 amid reports of fraud and poor credit policies which triggered its insolvency and inability to raise minimum capital requirements. Its closure implied that […]

Uganda oil not safe with Museveni hobnobbing with Nguema Mbasogo – Lukwago

Uganda oil not safe with Museveni hobnobbing with Nguema Mbasogo – Lukwago

Embattled Kampala Lord Mayor Erias Lukwago says Ugandans are not putting enough pressure on President Museveni’s plan for the country’s oil wealth because “he is not understandable,” the politician said. Museveni and his entourage today return from Equatorial Guinea after a four days oil and security trip on the invitation of the West African nation […]

Direct Pay Online acquires Virtual Card Services (VCS) South Africa

Direct Pay Online acquires Virtual Card Services (VCS) South Africa

With an expanding Uganda presence, Direct Pay Online Group (DPO) has announced the acquisition of Virtual Card Services (VCS) South Africa. This marks the completion of DPO’s purchase of VCS Group, post the earlier acquisition of VCS Namibia and VCS Botswana. Furthermore this acquisition further bolsters DPO’s leading position in Southern Africa post its previous […]

After buying Warid, VG Somasekhar returns to finish Airtel job

After buying Warid, VG Somasekhar returns to finish Airtel job

Astute business leader Mr. VG Somasekhar is returning to Kampala as Airtel Uganda Managing Director, the country’s second biggest telecom service provider has announced. Mr. Somasekhar is widely remembered for leading Airtel from December 2010 to February 2014, during which period he oversaw the Airtel-Warid merger – the first telecom merger in Uganda and the […]

mVisa gives Ugandan traders free mobile money alternative

mVisa gives Ugandan traders free mobile money alternative

Since introduction of mobile money in Uganda by Bank of Uganda (BoU) in 2009, there has been financial inclusion with millions of people acquiring mobile money accounts. Today, transactions this year hit Shs44 trillion and like in the neighbouring Kenya, mobile money is playing a key role in Uganda’s economy in terms of financial inclusion and […]

Roofings’ Oliver Lalani Leads New Generation of Brainpower at Chamber of Mines and Petroleum

Roofings’ Oliver Lalani Leads New Generation of Brainpower  at Chamber of Mines and Petroleum

The Uganda Chamber of Mines and Petroleum (UCMP) has reelected Hon Dr Elly Karuhanga for a new 2-year term as Chairman, following a June 30, 2017 annual general meeting (AGM). But the appointment of Uganda’s emerging force in business – Oliver Lalani from Roofings Group on the state body’s nine-man council Advisory Committee has stood out. […]

URA takes over East & Central Africa customs leadership

URA takes over East & Central Africa customs leadership

Uganda Revenue Authority has climbed the ladder in the World Customs Organisation (WCO) hierarchy. Commissioner General URA Doris Akol’s Customs team leader, Mr. Dicksons Kateshumbwa on Monday received instruments of power from his South African counterpart, SA Revenue Services Chief Officer Customs & Excise, Jed Michaletos as the World Customs Organization East and South African […]

NSSF winning money battle, Pensions Bill to be kicked out of Parliament

NSSF winning money battle, Pensions Bill to be kicked out of Parliament

The Retirement Benefits Sector Liberalization Bill, 2011 that has been trying to dissolve the National Social Security Fund (NSSF) monopoly and government’s public pension scheme will be withdrawn from Parliament following pressure from President Museveni and enraged stakeholders on Monday. The bill that has been talk of every national Labour Day celebrations has been tabled […]

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