China National Offshore Oil Corporation (CNOOC) Uganda Ltd held the Kingfisher Oilfield Drawing competition where 30 students from 17 schools in Hoima and Kikuube exhibited their artistic understanding of the project.The event was attended by Fan Xuecheng from the Chinese embassy in Uganda & Liu Xiangdong, the President of CNOOC Uganda Ltd.Xuecheng introduced the latest […]
President Yoweri Museveni has tasked leaders at all levels to preach the gospel of household income generation to the masses in order to uplift communities.The Presidenet who was hosting a group of exemplary farmers from the nine villages of Gomba and Sembabule Districts at his Kisozi farm on Tuesday, 2nd April, 2024 underscored the importance […]
It was circle of pars, tees, birdie, and bogey as 152 golfers stormed Uganda Golf Club (UGC) in Kitante to conquer the much-anticipated Stanbic Monthly Mug Challenge for March; Bob Drani shrugged off the competition to take victory with 63 nets.Speaking shortly after being announced the overall player, Drani Bob attributed his triumph to his […]
The State Minister of Finance for Investment and Privatization, Evelyn Anite, has tipped investors not to be duped into buying land in Namanve Industrial Park in Mukono district because it is free.The minister also indicated that he had opened criminal cases against people who give fake titles on Uganda Investment Authority (UIA) land to Ugandans […]
Parliament has backed the decision by the Bank of Uganda (BoU) requiring Stanbic Bank Uganda to hire a Ugandan national as the next Chief Executive Officer to replace Anne Juuko, who the commercial bank gave a new role as head of Global Markets for East Africa.In a press statement on March 28, 2024, Stanbic Bank […]
The government of Uganda has in the Excise Duty Amendment Bill 2024 that was tabled before Parliament by the Ministry of Finance proposed a number of taxes.Tax on disposal of non-business assetsThe government has proposed to impose a 5% withholding tax on gains earned from the sale of land in cities & municipalities, the sale […]
The Petroleum Authority of Uganda is leading a delegation of Uganda Foreign Missions heads for a three-day field visit to the oil and gas operational areas in the Albertine Region.Ruth Nankabirwa, the Minister of Energy and Mineral Development flagged off the delegation on Tuesday flagged off at the Ministry of Foreign Affairs office in Kampala. Nankabirwa […]
Banks of Uganda have announced that ABC Capital Bank (U) Limited, Guaranty Trust Bank (U) Limited, and Opportunity Bank Limited are transitioning from tier one commercial bank license to tier two credit institution license effective July 1, 2024.According to the central bank, the transition will be a period of three months, starting April 1, 2024, […]
President Yoweri Kaguta Museveni has launched Salaam Bank, Uganda’s first ever licensed Islamic Banking institution.Islamic banking is a form of banking based on Islamic principles. Basically, in Islamic banking it is not allowed to pay and receive interest but rather it is based on profit sharing.Islamic banks focus on generating returns on investments through investment […]
Uganda and Tanzania have registered yet another key milestone following the commissioning of the East African Crude Oil Pipeline (EACOP) Coating plant, nestled at Sojo, Nzege – Tabora Region in Tanzania.Dr Ruth Nankabirwa, the Minister of Energy and Mineral Development and her counterpart Dr Doto Biteko, the Deputy Prime Minister and Minister of Energy, United […]
