According to data from the Ministry of Finance, the cost of debt servicing increased by 44.9 percent from Shs3.7 trillion to Shs8.3 trillion in the four years leading up to June 2023. This increase was caused by the public debt rising from Shs57.1 trillion to Shs96.1 trillion ($25.3b). Get informed
Emmanuel Lwasa, a flamboyant businessman and socialite from the city, has expressed that he is financially strained and has now asked President Museveni to intervene to his rescue. “Your Excellency, my property is on the verge of being taken over by the bank and as an ardent supporter of NRM and a former Kadogo(child soldier…
Several fuel stations operating in rural communities do not meet required standards, according to stakeholders and district leaders in the Tooro sub-region. They have urged the Ministry of Energy and Mineral Development and the Uganda National Bureau of Standards to regulate the proliferation of fuel stations. When the UNBS and the Ministry of Energy and…
Apple is the target of a lawsuit brought by the US, which claims the tech giant is monopolizing the smartphone market and stifling competition. The Justice Department claims in the lawsuit that Apple has abused its control over the iPhone app store to “lock in” developers and users. It charges the company with using unlawful measures to…
The Jinja City Council has slashed its budget for the 2024–2025 financial year, citing a number of issues, including insufficient local revenue from property taxes. Finance Secretary Twaha Waniala of the Jinja City Council announced that the budget for the current FY 2023/2024 has been cut from Shs 59.8 billion to Shs 54.9 billion for…
