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Uganda Development Bank registers stellar performance in 2024

The Uganda Development Bank (UDB) has reported significant year-on-year growth for 2024, showcasing robust performance across key metrics. According to its financial report for 2024, the bank’s loan portfolio grew to Shs 1.67 trillion, a testament to UDB’s continued commitment to fostering Uganda’s socio-economic development. The Bank’s total assets grew by 3%, from Shs 1.67…

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Why doesn’t court give this woman bail?

Molly Katanga, who is facing murder charges at the High Court, was last week denied bail for the third time, despite her deteriorating medical condition. Justice Rosette Comfort Kania ruled on Thursday that the seriousness of the murder charge against her outweighed any personal circumstances. The judge said she should stand trial while on remand,…

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In new changes parliamentary commissioners to be elected by MPs, not parties

Parliament has amended its rules of procedure to provide for election of the four backbench commissioners dropping the current system of selection by parties. The House Committee on Rules, Privileges and Discipline, which reviewed the current rules and provided suggested amendments, said this would ā€œgive MPs greater control over the election of commissioners, reducing the…

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EU special representative Borgstam in Uganda over Eastern DR Congo crisis

The European Union Special Representative for the Great Lakes Region, Johan Borgstam, is visiting Uganda as part of a broader mission to the region. The European Union views regional political processes as indispensable in addressing the escalating crisis in the eastern Democratic Republic of the Congo (DRC) and attaches great importance to Uganda’s central role….

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Museveni: “Besigye shouldn’t ask for forgiveness, he needs quick trial”

President Museveni has said incarcerated opposition lynchpin Dr Kizza Besigye does not require forgiveness but a quick trial to get out of his current ordeal. Commenting on Besigye’s predicament for the first time, the president acknowledged the public anxiety surrounding his detention but maintained that the key question should be: ā€œWhy was Dr. Besigye arrested?ā€…

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Tour operators lose billions due to Ebola outbreakĀ 

The recent declaration of an Ebola outbreak in Uganda has sent shockwaves through the tourism industry, with tour operators experiencing massive cancellations and financial losses. The Ministry of Health recently announced that a nurse at Mulago had succumbed to the virus while several people had been isolated. Uganda’s tourism sector, one of the country’s leading…

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Medical firm funded by UDB dispatches first consignment of HIV, Malaria testing kits

Microhaem Scientific (MHS), a Ugandan medical supplies company funded by the Uganda Development Bank (UDB), has dispatched its first consignment of locally manufactured diagnostic kits to the Government of Uganda through the National Medical Stores. MHS produces diagnostic kits that enhance the efficiency, convenience, and accuracy of malaria, HIV, and sickle cell disease diagnoses. Patricia…

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Next Media sacks Joe Kigozi

Joseph Kigozi has been given marching orders by Next Media, nearly 15 years after he joined the company as a sports analyst before climbing the ranks to become deputy CEO. In a communication to staff today, Next Media said Kigozi will now become an outside “consultant” , an ambiguous role. But sources close to Kigozi…

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Nabiteeko’s dream is to showcase her African traditional craft-making skills on the international stage

Agnes Nabiteeko is a renowned African traditional fashion designer and craft maker. The 35-year-old mother of two learned the African traditional crafting skill at a tender age from her grandmother. She says she started living with her grandmother when she was five years. Her parents were poor and could not afford to take care of…

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Stanbic Bank rolls out new campaign to ease credit access for women, youth

Stanbic Bank Uganda has unveiled a new campaign dubbed Kiri SupaDupa which aims at breaking barriers to access to finance for newly employed individuals, especially the youth. According to the African Development Bank (AfDB) young people face numerous institutional barriers when sourcing funding for their personal or commercial ventures with lack of collateral, limited credit…

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