The High Court has temporarily halted the enforcement of over Shs 1.2 billion in costs awarded to court bailiffs in a protracted property dispute between DFCU Bank Limited and Meera Investments Limited. The ruling by Justice Olive Kazaarwe Mukwaya grants interim relief to DFCU Bank pending the resolution of broader appeals. The case originates from…
The Uganda Revenue Authority’s (URA) announced a blanket amnesty for taxpayers with arrears a move that some say signals a strategic shift toward fostering voluntary compliance and easing financial burdens on businesses still recovering from the COVID-19 pandemic. The URA’s move comes as Uganda grapples with uneven revenue collection. According to official figures, domestic tax…
Airtel Uganda posted impressive results for the first half of 2025, showing how the company is riding the wave of digital demand while navigating challenges like falling voice call revenues. From the results, the telecom firm’s financial position as of June 30, 2025, reveals a healthier balance sheet with more cash on hand and less…
The private sector continued its upward trajectory in August, marking seven consecutive months of expansion, according to the latest Stanbic Bank Purchasing Managers’ Index (PMI). The headline PMI registered at 53.3, slightly down from 53.6 in July, but still signalling robust growth as it remained above the 50.0 threshold that indicates improving business conditions. The…
A seismic shift is underway in Uganda’s telecommunications sector, with data usage surpassing traditional voice calls as the preferred mode of communication, according to Airtel Uganda’s latest financial results. For the half-year period ending June 30, 2025, Airtel reported a 30.4% surge in data revenue, reaching Ushs 525.7 billion and accounting for nearly half of…
Stanbic Bank Uganda hosted its third annual financial literacy session for its clients’ children, a dynamic initiative aimed at equipping young Ugandans with essential financial skills to manage wealth responsibly. The event, held over the weekend in Kampala, brought together nearly 100 participants aged 10 to 20 for an engaging programme covering budgeting, saving, investing,…
After nearly three decades as the king of pay TV in Uganda, MultiChoice Uganda is stepping aside. The South African company, best known for its popular DStv and GOtv services, has been the go-to for Ugandans wanting premium entertainment since it started operations here in 1995. But now, French media powerhouse Groupe Canal+ is set…
Stanbic Bank Uganda has launched an enhanced SupaDupa Campaign, extending the repayment period for unsecured commercial loans from 84 to 120 months, a move aimed at easing financial burdens and promoting inclusivity for Ugandans. The announcement was made during a press conference in Kampala. Israel Arinaitwe, Head of Personal Banking at Stanbic, emphasized that the…
City traders plan to take businessman Tom Kitandwe to court over alleged violations of their rights. Traders in buildings owned by Kitandwe including Galiraaya, Grand Corner, and Gazaland accuse him of forcibly increasing rent by up to 10%, as well as raising electricity and security fees, which they deem unnecessary. In response, the traders have…
In March, the Tax Appeals Tribunal rejected a request by Kuku Foods Uganda Limited, the company behind the KFC fast-food chain in Uganda, to halt the Uganda Revenue Authority (URA) from collecting Shs 4.2 billion worth of taxes until their tax dispute is resolved. The tribunal dismissed the application, ordering Kuku Foods to pay costs,…
Stanbic Bank Uganda has called for aggressive investment in entrepreneurship and innovation to address the country’s youth unemployment crisis. The bank made the call during the Investor Roundtable Summit hosted by the Makerere University Alumna Association. The event, themed “Exploring Opportunities for Entrepreneurship, Innovation and Value Creation for Accelerated Socio-Economic Integration and Development of Sub-Saharan…
The PPDA Appeals Tribunal has dismissed a case challenging Uganda Revenue Authority’s (URA) decision to rent office space in tycoon Sudhir Ruparelia’s new building, Pearl Tower One, at Shs 18. 7 billion over a period of three years. The decision had been challenged by Twed Property Development Limited (TWED), which had also put in a…
Dr. Patricia Ojangole, the managing director of Uganda Development Bank (UDB), has urged the government to support the scaling up of national development banks like UDB if they are to make a real impact in the lives of the people. Ojangole was speaking on the second day of the Uganda Development Finance Summit organised by…
Preparations for the 2025 Uganda Manufacturers Association (UMA) Expo have been officially launched today with a call for local manufacturers to be innovative. The function was presided over by the minister for Science, Technology, and Innovation, Dr. Monica Musenero. The annual exhibition, which will take place from October 2 to October 12 is expected to…
President Museveni has said economic development in Africa has been hampered by leaders who lack vision and who have no integrity. Museveni made the remarks at Speke Resort Munyonyo while officially opening the Uganda Development Finance Summit organised by Uganda Development Bank (UDB). “Africa is 250 years behind Europe because most of the leaders neither…
A first year student at Kampala International University (KIU) has been given an unexpected financial boost after winning a cash prize in Stanbic Bank’s ongoing Kya Double with SupaDupa campaign. Daniella Muwanga Nantege, 20, who is pursuing course in Medicine and Surgery at the Ishaka campus, was announced as the latest winner after depositing money…
The Court of Appeal has dismissed an application by two companies, Simba Properties Investment Co. Ltd and Simba Telecom Ltd, to temporarily stop the sale of six properties they had mortgaged over a loan. The properties include Protea Skyz Hotel on Naguru hill. In a ruling last week, the court said it lacks the power…
President Museveni met with investors from Rebel Group, a Nairobi-based international consultancy and investment firm, at State House, Entebbe, yesterday, assuring them of Uganda’s commitment to collaborate on transformative infrastructure projects. Led by former US Ambassador to Kenya, Kyle McCarter, the delegation expressed keen interest in Uganda’s economic potential. Museveni welcomed their engagement and highlighted…
Standard Bank Group, the parent company of Stanbic Uganda, has today announced major leadership changes involving two Ugandan senior executives, Patrick Mweheire and Francis Karuhanga. In a statement, the bank said the changes highlight the bank’s trust in Ugandan talent to lead its operations across Africa. “These appointments mark a proud moment for Uganda’s representation…
By Bob Twinomugisha Africa’s structural transformation is progressing slowly, raising questions about why economic growth hasn’t shifted resources from low- to high-productivity sectors. Agriculture, employing over half of Africa’s workforce and contributing one-fifth of GDP, grows at a sluggish 0.37% annual total factor productivity, below the global 0.74%. Africa remains at the bottom of global…
The commercial division of the High Court has dismissed a lawsuit filed by Westwinds Trading Company Matco Ltd against Exim Bank (Uganda) Ltd. The judge ruled that the case was filed incorrectly under Ugandan law, and ordered Westwinds to pay the bank’s legal costs. The dispute started when Westwinds accused Exim Bank of wrongly transferring…
Between January and June 2025, Stanbic Uganda Holdings Limited (SUHL) made a profit of Shs 278 billion, up 18% from in the same period last year. It also paid Shs 273 billion in taxes, a 37% increase from Shs 198 billion in 2024. Francis Karuhanga, the CEO of Stanbic Uganda, said their success is not…
President Museveni has commissioned the Wagagai Gold Mining Project in Busia District, hailing it as a pivotal step toward ending the export of raw minerals and advancing Uganda’s commitment to value addition. During the event, President Museveni commended Wagagai Mining (U) Co., Ltd. for establishing a cutting-edge refinery capable of producing gold at 99.99% purity….
Dr. Alan Shonubi, one of Uganda’s well-known lawyers, has been ordered by the High Court to facilitate the refund of Shs 100 million to Sal Oil Limited after a land deal went sour. The ruling, delivered on August 15, 2025, stems from a 2019 agreement where Sal Oil tried to buy a plot in Mbale…
Prime Minister Robinah Nabbanja and Col. Edith Nakalema, head of the State House Investors Protection Unit (SHIPU), met with American and Indian investors in Kampala to explore trade and investment opportunities. The delegation represented sectors including agriculture, technology, housing, and finance. Nabbanja welcomed the investors, highlighting Uganda’s favorable investment climate, including a 10-year tax holiday,…
Stanbic Bank, in partnership with Afrigo Band, donated Shs 20 million in medical equipment and supplies to the Uganda Cancer Institute (UCI) to support cancer care. The donation included adult mattresses, colostomy bags, patient monitors, wheelchairs, chemo chairs, examination couches, hospital blankets, and food items. The contribution was made ahead of Afrigo Band’s 50th anniversary…
The minister of Finance, Matia Kasaija, has announced that the government will implement a tenfold growth strategy over the next 15 years, aiming to increase Uganda’s GDP from approximately $ 50 billion to $ 550 billion by 2040. This statement was delivered on his behalf by the state minister for Planning, Amos Lugoloobi, during the…
The Appeals Tribunal of the PPDA has dismissed a case brought by Goldstar Insurance against the Uganda National Oil Company (UNOC). The tribunal said in its ruling on August 12 that the insurance firm’s application was filed too late, making it invalid under the law. The case started from a dispute over a procurement process…
On Kampala Road, next to Crane Chambers, stands the gleaming Church House, a 16-story building that serves as the headquarters for the Church of Uganda. This iconic structure, completed in recent years, nearly slipped from the church’s grasp due to a massive loan from Equity Bank Uganda. Back in 2010, under the leadership of then…
Airtel Money has partnered with the Uganda Revenue Authority (URA) to simplify tax and fee payments for Ugandans. This new partnership allows people to pay taxes, renew passports, get business licenses, and settle other URA fees right from their mobile phones. “No more long queues or piles of paperwork,” said Japhet Aritho, Airtel Money’s managing…
I will start with a disclaimer: This is not your experience. It’s mine. Flying with Uganda Airlines on the Entebbe–Gatwick route was, quite simply, a pleasant surprise. The kind you want to tell everyone about. In an era when air travel often feels like an endurance test, this was a reminder that flying can still…
Uganda’s private sector continued its robust expansion in July 2025, driven by strong demand and new client wins, though rising input costs prompted firms to increase prices, according to the latest Stanbic Bank Purchasing Managers’ Index (PMI). The headline PMI registered at 53.6 in July, down slightly from 55.6 in June. Despite the dip, the…
President Museveni yesterday met and welcomed Egyptian investors to explore opportunities in Uganda, saying the country is ready to work with those bringing practical solutions and investments that can spur more development. Museveni is in Cairo, Egypt on a three-day working state visit at the invitation of his host and counterpart, Abdel Fattah El-Sisi. After…
The High Court (Commerical Division) has given businessman Kennedy Losuk, 60 days to deposit Shs 10 billion in Equity Bank or have his properties, including Emin Pasha Hotel in Nakasero, sold off. The 60 days end on October 10, 2025. A couple of years ago, the owner of the hotel, Kennedy Losuk, borrowed billions from…
The Court of Appeal has temporarily stopped proceedings in a High Court arbitration case involving Simba Properties Investment Co. Ltd and Vantage Mezzanine Fund II Partnership. Simba Properies Investment Co. Ltd is owned by businessman, Patrick Bitature. The decision, made by Justice Oscar Kihika, pauses High Court Arbitration Case until an application for leave to…
Airtel Money Uganda has teamed up with SchoolPay and Sanlam Investments to introduce SchoolPay Savings, a new way for parents to save for their children’s school fees. This service aims to make paying school fees easier and less stressful for families across Uganda. SchoolPay Savings lets parents save small amounts starting from just Shs 5,000…
The High Court has ordered car dealer Yassah Matovu to refund tycoon, Mutaasa Kafeero, Shs 300 million after he supplied him with a Range Rover that did not match the description in the contract. The ruling was delivered at the end of last month. Through his lawyers Muwema and Company Advocates, Kafeero sued Matovu last…
In 2010, I developed a desire to set up a hotel. Tourists were my target because we neighbor Murchison Falls National Park. I realised my dream when I set up a small hotel. In 2016, those bad liars from the oil sector made a big crusade in Buliisa. They told us, ‘People of Buliisa, build…
The East African Community (EAC) has officially launched the EACBond, a groundbreaking regional customs guarantee instrument designed to streamline the movement of goods across member states. Unveiled Monday in Kampala, the EACBond replaces multiple national customs bonds with one unified system, allowing traders to secure their cargo journey under a single guarantee. The EAC said…
President Museveni has announced that the government will purchase the Mayuge Sugar Factory for Busoga sugarcane farmers. Museveni made the announcement while meeting sugarcane growers, millers, and sugar manufacturers from across Uganda at Kityerera State Lodge, Mayuge, on August 6. During the meeting, the farmers gave the government a green light to go into purchase…
The East African Crude Oil Pipeline (EACOP) has signed a Memorandum of Understanding (MoU) with Rotary to advance environmental sustainability through the EACOP Green Schools Initiative. The agreement, formalized in Kampala, establishes a collaborative framework to promote environmental stewardship in schools along the 1,443km pipeline route, spanning districts such as Hoima, Kikubbe, Kakumiro, Mubende, Kyankwanzi,…
Arnold Anderson Katongole Once considered a subject too abstract or too elite for young people, philanthropy has experienced a transformation in Uganda. Until only a few years ago, any effort to involve youth in such discussions would likely have been met with blank stares, not because of indifference, but due to a lack of direction…
Atkins Godfrey Katusabe, the MP for Bukonzo West in Kasese district, has won a legal battle against telecom giant, MTN, after it deactivated his simcard due to what it called discrepancies in his indentification documents. Katusabe is the husband to Sarah Opendi, the vocal woman MP for Tororo. Justice David S.L. Makumbi of the High…
The East African Community (EAC) faces a daunting $42 billion annual infrastructure deficit, stalling progress in transportation, energy, and communication systems critical for regional integration and economic growth. To address this, Standard Bank Group affiliates—Stanbic Bank Kenya, Stanbic Bank Uganda, and Stanbic Bank Tanzania—recently convened the 2025 East Africa Institutional Investors Forum in Arusha, Tanzania,…
The Arab Bank for Economic Development in Africa (BADEA) and Uganda have signed two Facility Agreements totaling $150 million to drive private sector development. The agreements were formalized by BADEA president Abdullah Almusabeeh and Matia Kasaija, the minister for Finance, Planning and Economic Development, during the 41st board of governors meeting of the Trade and…
Government has recognized Stanbic Bank for its transformative impact on the remittance sector, as highlighted during the 8th Annual Uganda Bankers Association Conference in Kampala. The bank’s digital innovations, particularly the Flexipay platform, have enhanced the efficiency, accessibility, and affordability of remittance services, supporting Uganda’s diaspora and their families. In his address, Dr. Atingi-Ego, the…
Stanbic Uganda Holdings Limited (SHUL) spent Shs 565 billion in 2024 to keep its employees happy and maintain the smooth running of its operations, the company’s annual financial statements for the year that ended December 31, 2024, show. According to the records, SHUL, which includes Stanbic Bank Uganda and other subsidiaries, spent Shs 281 billion…
Presidents Museveni of Uganda and William Ruto of Kenya have signed seven new bilateral agreements, increasing the total number of trade and cooperation accords between the two East African neighbors to 25. The agreements, signed during Museveni’s visit to Nairobi, cover diverse sectors including tourism, property rights, fisheries, aquaculture, agriculture, transport, and investment promotion. At…
The Directors and management of Stanbic Holdings Uganda Limited (SHUL), the umbrella company of Stanbic Bank Uganda, have protested after Uganda Revenue Authority (URA) slapped the company a tax bill of Shs 133.7 billion. This includes a tax of Shs 33.8 billion to be paid by Stanbic Bank Uganda. This partiuclar tax bill is related…
Airtel’s East Africa operations have reported significant growth in the first quarter of 2025, propelled by a sharp rise in data consumption, an expanding customer base, and substantial investments in network infrastructure. Mobile services revenue reached $498 million, a notable increase from $423 million in Q1 2024, driven by a 47.4% surge in data usage…
