More than 700 victims of DunamisCoins Resources Ltd, a crypto currency scan in Arua have petitioned for the intervention of President, Yoweri Museveni to allow them access their money, which has been frozen in two banks. Dunamiscoins ltd, which deals in bid coins, opened business in Arua town on September 1st 2019. However, it was by the Finance Intelligence Authority…
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The International Monetary Fund-IMF has slashed Uganda’s growth projection from 6.3% to 6% this year, citing the country’s challenges to get oil out of the ground and government’s inability to do all budgeted activities. After assessing the economy, the IMF said Uganda had challenges to raise money to carry out activities in the budget. This has made the country borrow…
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President Yoweri Kaguta Museveni has called upon the people of Rwenzori Region and Uganda in general to “wake up” and put themselves out of poverty by engaging in diverse economic activities. Museveni says it’s unfortunate that in a region full of potential ranging from the good climate to fertile soils the people there continue to wade in poverty and unemployment.…
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President Yoweri Kaguta Museveni says he is not worried after Kenya seized Uganda’s milk products on their market saying the rest of the world is there to buy the milk. Few days ago Kenya blocked Uganda’s milk and dairy products, particularly Lato Milk on claims that Ugandan companies are exporting counterfeit and substandard products. Addressing farmers and other business people…
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The Ministry of Agriculture, Animal Industries and Fisheries through the National Agricultural Advisory Services has distributed tractors to three farmer groups in Lira District. The three groups are Nyeko- rac community Farmers’ Cooperative Society, Itek- okile Rice Growers and Multipurpose Cooperative Society Ltd and Bar Orphan Widows and Widowers- (BOWW) Cooperative Society. Of the 11 farmer groups which applied to…
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Construction of a processing and storage facility has started in Soroti Municipality. The Shillings 18 billion project comes just months to the completion of Soroti Central Market under the Market and Agricultural Trade Improvement Program Project-2 MATIP-2. The new project is co-funded by the African Development, 82% and Government of Uganda, 18%. The facility will be constructed by Coronation Developers,…
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A Chinese company Power China International Group Limited has submitted an application to construct the 840 Mega Watts Ayago hydropower plant on River Nile. According to the Uganda Gazette this week, the company seeks a license for generation and sale of electricity from Ayago dam on River Nile in Kiryandongo and Nwoya districts. The dam will cost more than USD…
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Parliament has approved proposals for additional funding for building and repairing district roads and also development of 13 airfields to boost tourism. The proposal will increase the works sector budget from shillings 5.9 trillion to 6 trillion next financial year. The committee argued that there is need to add shillings 40 billion in works sector budget to support meaningful development…
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Stanbic Bank Uganda has partnered with Uganda Breweries Limited (UBL) in a new awareness campaign against deforestation by encouraging the public to plant trees to foster sustainable development and save the environment. The employees of the two institutions will take part in a marathon relay from Kampala to Gulu involving other companies, to highlight the dangers of deforestation. The Two-day…
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At least 46 soldiers have been dropped from the UPDF Fisheries Protection Unit-FPU over the last three years, Maj. Joseph Ssebukera, the Commandant of the unit on Eastern side of Lake Victoria has revealed. He told journalists at Masese Landing site in Jinja district on Tuesday morning that the soldiers were interdicted because of brutality and extortion. According to Ssebukera,…
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