The central bank of Uganda announced that it is in talks to start buying gold that is locally produced in order to increase its foreign reserves and address issues with global financial markets. The domestic gold purchase program intends to mitigate the diminishing foreign currency reserves and handle the related risks in the international financial markets, according…
According to a Russian agricultural watchdog, Russia sent more than 10,000 tons of pork goods, comprising roughly 6,800 tons of pork and 3,200 tons of pork byproducts, to China. “As of June 24, 2024, more than 10,000 tons of pork products were exported to China. In particular, about 6,800 tons of pork and about 3,200…
Store owners in all six regions of Tanzania have closed their doors and embarked on a walkout due to what they perceive to be unjust tax assessments from revenue authorities. In Kariakoo, a busy shopping complex in the port city of Dar es Salaam, the shop owners’ strike got underway on Monday. Later on, it…
2,850 consumers who had accounts with the now-closed Mercantile Credit Bank Ltd. are expected to receive payments from the Deposit Protection Fund (DPF) and the Bank of Uganda. However, the validity of the Bank of Uganda clients’ personal information and the closed ban will determine this. On Saturday, the Deposit Protection Fund began disbursing payments…
The International Fund for Agricultural Development (IFAD) and Upesi Money Transfer, a regional payments provider, have teamed with FlexiPay, Stanbic Bank’s digital payment platform, to make it easier for FlexiPay users to send and receive money internationally. According to Josephine Nakato Kasacca, Lead Customer Experience & Operations at FlexiPay, the new collaboration is a reflection…
Mercantile Credit Bank Ltd.’s license has been revoked by the Bank of Uganda, which also instructed that the business wind down. Mercantile is a Tier II financial institution. Credit institutions are defined as “non-bank” financial organizations that take call and time deposits, which must be repaid either with notice or after a predetermined amount of…
Effective July 1st, the Entebbe Municipal Council will close all weekly open-air markets, also referred to as “kabubbu.” Mayor Fabrice Rulinda made the broad decision public, highlighting the importance of assisting the major markets that pay the municipal council dues each month. Mayor Rulinda said that the council decided to close all weekly open-air markets…
WasteAid will take lead, piloting the project. According to Soteri Nabeeta, the Executive Director of Management Training and Advisory Centre (MTAC), the institute will lead the skilling and retooling of workers, and a hub to be set in Nakawa, its headquarters. The National Curriculum Development Centre (NCDC) shall integrate innovation into the curricula.
BY: Samuel kirimunda In a bid to recover from covid19 pandemic which hit the businesses mostly in Africa including Uganda many women suffer losses in their businesses across africa like in Uganda, south africa among others. in Stake holders engagement meeting which involved many organizations ie. KACITA , AWAAN etc have come up with different…
The National Population and Housing Census is just ten days away, and the Uganda Bureau of Statistics (UBOS) has begun distributing tablet computers, which will be used to capture data for the exercise. Over the weekend, UBOS dispatched the first consignment of 3410 devices to the districts of Gulu, Apac, Amolator, Alebtong, and Otuke. While flagging…
