Sudhir Drops Off Africa’s Billionaires List

Sudhir Drops Off Africa’s Billionaires List Africa has 25 billionaires this year up from 24 last year, according to FORBES magazine. Uganda’s Sudhir Ruparelia’s wealth evaporated when his treasured Crane Bank crushed and burned and got sold off to DFCU bank, and he vanishes from the list. Nigerian businessmen Femi Otedola and Abdulsamad Rabiu also […]

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Karuma Dam Might Never Be Perfect

Karuma Dam Might Never Be Perfect Because of the numerous structural defects which contractors have failed or refused to correct, karma Power dam might never operate at full capacity after its commissioned. This damning verdict was by officials of the Uganda Electricity Genration COmpany Limited who have been supervising the construction of the dam on […]

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Anti-Kavera Bill Flops @EALA

Anti-Kavera Bill Flops @EALA By Our Reporter Kigali Members of The East African Legislative Assembly yesterday failed  to pass the  Anti-Kavera bill. The EALA parliament sitting in Kigali failed to agree upon the bill to ban the Kavera  and other polythene material after representatives from member states of Tanzania and Kenya objecting to the bill. […]

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Africa’s Tallest Building To Be Set Up In Nairobi

Africa’s Tallest Building To Be Set Up In Nairobi Hass Group has announced that it has signed a KSh 20 billion agreement with the world’s largest Construction Company; China State Construction Engineering Corporation (CSEC), to construct the tallest building in Africa in Nairobi’s business district of Upper Hill. Speaking at the signing ceremony that was held at Kempinski Hotel […]

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Tycoon Muwonge Fears For Life, Hides From Traders

Tycoon Muwonge Fears For Life, Hides From Traders By Our Reporter Wealthy city businessman Bosco Muwonge is reportedly in hiding and fears for his life, after hundreds of traders at his Premium Center Building in Kampala rioting on Monday. The traders locked up their shops at his building, protesting hiked rent fees, which he  wants […]

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UEGCL Questions Quality Of Isimba Dam

UEGCL Questions Quality Of Isimba Dam Engineer Proscovia Njuki, the Chairperson Uganda Electricity Generation Company (UEGCL) has questioned the quality of work being carried out by the contractor at Isimba Hydro Power Project in Kayunga. Njuki said: ‘The contractor has made good physical progress but there is need to match quantity with quality.’ Isimba dam […]

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Back Off Nationalisation of UTL – Libyans tell M7

Back Off Nationalisation of UTL – Libyans tell M7 Eastern government has urged Uganda to back off from decision to nationalise Uganda Telecom Limited UTL, which is owned by Libya and Uganda. The government of Abdullah Al-Thinni said it was concerned by the takeover of the UTL the last two days, saying the procedures were […]

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EALA Mps Concerned About Uganda’s Slow Progress On SGR

EALA Mps Concerned About Uganda’s Slow Progress On SGR The legislators of the East African Legislative Assembly sitting in Kigali, Rwanda have expressed concern about the slow pace at which some partner states like Uganda are moving in constructing the standard gauge railway. The EALA MPs raised the concerns while debating a report of the committee […]

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Red Pepper Becomes Bigger, Better

Red Pepper Becomes Bigger, Better By Richard Kintu In a bid to meet our readers’ ever changing consumer demands, the Red Pepper is introducing new content. According to the Managing Editor Ben Byarabaha, the latest additions are based on scientific research and are intended to cater for the varied scope of the Red Pepper readership. […]

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Kazinda To Pay 77m To Bigirimana

Kazinda To Pay 77m To Bigirimana Disgraced former principal accountant for the Office Of The Prime Minister Geoffrey Kazinda has been ordered to pay sh77.3m as costs to Pius Bigirimana. The money was awarded to Bigirimana after Kazinda filed a law suit accusing Birigimana of defaming him in a published book. Birimana is the former Permanent […]

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Bad Economy: Banks Lower Interest Rates To Entice Borrowers

Bad Economy: Banks Lower Interest Rates To Entice Borrowers By Serestino Tusingwire Players within the local financial sector are adjusting their lending rates downwards in some instances by an average spread of nearly 3%, in a move largely aimed at persuading more borrowers. This will be effective 1st April, 2017. Currently the financial sector holds […]

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MTN Uganda Pumps Shs5Bn Into Community Development

MTN Uganda Pumps Shs5Bn Into Community Development The Telecommunication giants MTN Uganda and their social development arm MTN Uganda Foundation, have committed Shs5Bn (five billion) to Community Development investment in 2017. This give-back to the community will be part of their initiatives to celebrate 10 years of the MTN Foundation in Uganda. The projects to […]

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KCCA: We Didn’t Authorize Park Yard Demolition

KCCA: We Didn’t Authorize Park Yard Demolition KCCA has said they DID NOT give permission to Kampala tycoon Hamis Kiggundu to raze Park Yard Market. Last week the city was thrown into chaos when bull dozers and other machines were used to demolish the shanty market leaving hundreds of businessmen and vendors distraught and angry. And today, […]

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Blogger Highlights Ridiculous Govt Expenditure

Blogger Highlights Ridiculous Govt Expenditure In a series of tweets a Ugandan blogger has summarized the absurdity of Government expenditure of tax payer money. Fred Tumusiime, a water engineer and who refers to himself an independent consultant with the World Bank and who tweets regularly on the micro blogging site twitter capture the ridiculous nature of […]

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Gov’t Could Abandon Plan To Revive Uganda Airlines

Gov’t Could Abandon Plan To Revive Uganda Airlines Government is about to abandon its plan to revive Uganda Airlines because of a severe lack of money to activate the project. The minister of Finance, Mr Matia Kasaija, was quoted in the media saying that having Uganda Airlines flying again was no longer a ‘TOP PRIORITY’ given the […]

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MTN Posts First Annual Loss In 20 Years

MTN Posts First Annual Loss In 20 Years Africa’s biggest mobile phone operator MTN Group swung into a hefty $108 million annual loss on Thursday, its first in two decades, hit by a regulatory fine in Nigeria and unfavourable currency moves. MTN said its headline loss came in at 1.4 billion rand ($108 million), or 77 […]

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USD620m Stolen From Oil Fund

USD620m Stolen From Oil Fund Parliament had ordered a probe into what sources suspect could be a massive swindle of government monies earned from oil deals. The probe was ordered after what looked like a contradiction between presentations made by Bank Of Uganda officials led by Governor Tumusiime Mutebile and another presentation made by the Executive […]

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M7 Vows to Fire PSs Over Failing Economy

M7 Vows to Fire PSs Over Failing Economy As Textiles Giant Fine Spinners Becomes Latest firm to collapse By John V Sserwaniko Barely 6 months after posting them in different Ministries, the President is already frustrated with his new Permanent Secretaries (PSs) showing readiness to fire them in case they don’t put their act together. […]

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Analysis: Will Uganda’s mega-project spending spree generate growth or drive up debts?

Analysis: Will Uganda’s mega-project spending spree generate growth or drive up debts? In a hamlet, 7km south-west of Uganda’s capital Kampala, a group of cyclists rests under the shade of a flyover under construction. They watch as heavy-load vehicles full of building materials race past. “I can’t wait to ride on this road when it’s […]

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African Leadership Prize Fails To Find A Winner Again

African Leadership Prize Fails To Find A Winner Again Sudanese telecoms magnate Mo Ibrahim failed to award a $5 million African political leadership prize on Tuesday, the second year running the gong designed to foster regional democracy has gone begging due to a lack of suitable candidates. Since its launch in 2006, the Ibrahim Prize […]

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