Uganda coffee exports drop for third year

Uganda coffee exports drop for third year

NOTE: July 2015 to June 2016 exports totalled 3.56 million bags worth $352 million (Shs1.1 trillion) Crane Bank Ltd. and a collection of other financial firms are not the only Ugandan sectors having a strange existence this year. Coffee farmers in the highland areas on the slopes of Mount Elgon in the East and Mt. […]

Nakumatt selling 25% stake in its struggling business

Nakumatt selling 25% stake in its struggling business

Nakumatt operates nine outlets in Uganda, but most of the shelves at Oasis Mall, Metroplex Mall, Mbarara Branch, and Bukoto Branch have largely been empty. As social media continues to be littered with pictures of empty stalls at several Nakumatt outlets around, the Kenyan-founded supermarket chains, says it’s looking for an investor to buy a […]

Uganda’s bad economy leading to our collapse claims cash-strapped Nakumatt

Uganda’s bad economy leading to our collapse claims cash-strapped Nakumatt

This follows growing concern from customers through various social media platforms many of who were skeptical about the supermarket’s operations. ‘The largest supermarket chain in East Africa, Nakumatt has blamed a number of unforeseen business challenges for its empty stalls in several outlets following last year’s collapse of Uchumi another Kenya-based supermarket. Kenya-based supermarket Nakumatt […]

Understanding the challenges of current economic  environment: The  Need  to fix  economic fundamentals.

Understanding the challenges of current economic  environment: The  Need  to fix  economic fundamentals.

By Prof  Augustus Nuwagaba (PhD) International  Consultant  on  Economic Transformation  in  African Region The main talk in every corner of Uganda is the question whether the ordinary Ugandan will survive the current economic environment. I want to begin on a positive note that with God’s grace, people will make it through the hardships. Ugandans have survived more hardships before and even this, we shall survive though many may be wounded.  Let’s keep hope alive. What is […]

Kampala, Juba pile soldiers along common border

Kampala, Juba pile soldiers along common border

Joint deployment started on Sunday, October 23 The governments of Uganda and South Sudan have agreed to deploy a joint police force along their common border to stem the rampant killings of travellers. Since forces loyal to South Sudan President Salva Kiir and his deputy Riek Machar resumed fighting four months ago, at least five […]

Ugandan banks operating as ‘conduits for fraudsters’ says DP

Ugandan banks operating as ‘conduits for fraudsters’ says DP

This is not a mafia state. A week after Bank of Uganda took management control of Crane Bank Ltd. because it lacked sufficient capital and posed a systemic risk to the financial system, Uganda’s oldest political party Democratic Party has asked for a deep inquiry into the matter. According to DP publicity secretary Kakande Kenneth […]

Masons urged to form cooperatives

Masons urged to form cooperatives

20 masons chosen to visit the Hima Cement factory Masons, builders and foremen have been urged to form cooperative unions if they are to achieve/profit from their trade. This was part of Hon. Amelia Kyambadde, the Minister for Trade, Industry and Cooperatives, advice to builders who took part in Hima Cement Builder’s Academy training program […]

Police fires live bullets at street vendors as evictions continue

Police fires live bullets at street vendors as evictions continue

Police use live bullets to disperse violent vendors Police on Tuesday morning used fired live bullets as violence engulfed downtown Kampala during running battles between street vendors and KCCA enforcement officers with cops as they try to enforce government directive to get vendors off the streets. The evictions continue after Kampala Minister Beti Olive Kamya’s directive, […]

Central Bank denies Crane collapse is affecting Uganda’s financial sector

Central Bank denies Crane collapse is affecting Uganda’s financial sector

Crane’s impairment charges almost quadrupled to 50.4 billion Ugandan shillings The central bank says the collapse of Crane Bank Ltd., which is said to have been “significantly undercapitalized” after making  a loss of 12.5 billion Ugandan shillings last year caused by the economic slowdown and low commodity prices has no effect on Uganda’s economy. In a […]

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