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…
The building that houses Club Guvnor, located on 1st Street in the Industrial Area, could be sold any time soon, a source close to businessman Charlie Lubega, the owner, has told Bbeg Media. Our source informed us that Lubega told close associates that, since the club business in Uganda has declined, he does not see…
Motorcycle-taxis are one of the fastest and most convenient ways to get around Uganda’s congested capital, Kampala. But they are also the most dangerous. Though they account for one-third of public transport trips taking place within the city, police reports suggest motorcycles were involved in 80% of all road-crash deaths registered in Kampala in 2023….
Stanbic Bank Uganda has been named Best Bank and Best Investment Bank in Uganda at the 2025 Euromoney Awards for Excellence, solidifying its position as the country’s leading financial institution. These prestigious awards highlight the bank’s dominance in retail, commercial, and corporate banking, and its pivotal role in advancing Uganda’s economic transformation. The Euromoney Awards,…
MTN Group has taken a significant step toward its Ambition 2025 strategy, by agreeing to separate its moible money unit from its GSM operations. The decision was taken during during an extra-ordinary general meeting of its shareholders this week. The compnay said the move aims to enhance scale, efficiency, and customer service delivery across MTN’s…
The High Court (Commercial Division) has dismissed a lawsuit by Simbamanyo Estates against Equity Bank (U) Ltd, Equity Bank Ltd (Kenya) challenging the sale of its properties due to loan default. In 2020, Equity Bank (Uganda) sold Simbamanyo House to businessman Sudhir Ruparelia due to the failure by Simbamanyo Estates to clear a loan of…
Tension and excitement are building as eight outstanding schools from across Uganda gear up for the grand finale of the Stanbic National Schools Championship (NSC) 2025, known as the Battle of Champions, happening on August 29 at Mestil Hotel in Kampala. This year marks a decade of the competition, which has evolved into a vital…
A new study by the Africa Institute for Energy Governance (AFIEGO) has revealed significant concerns among Uganda’s tourism sector stakeholders about the impact of the country’s oil and gas industry on their livelihoods. The community-based research, conducted with 66 participants including tour operators, guides, travel agents, drivers, hotel workers, and food service providers, also unearthed…
Businessman Amos Nzeyi has prevailed against the Uganda Revenue Authority (URA) in a dispute over a Shs 1.82 billion tax assessment on income from the sale of land. In a ruling, the Tax Appeals Tribunal declared that the land sold by Nzeyi was not a business asset and is therefore exempt from income tax. The…
This year’s highly anticipated Legends of Sound Afrigo at 50 is expected to attract thousands of people to celebrate the music of Uganda’s most enduring and popular band. Speaking during a news conference, Aly Allibhai the CEO of Talent Africa Group, said unlike the previous two editions that happened at the Sheraton Kampala Hotel, the…
The Supreme Court has ordered Vivo Energy to pay Thalion International Limited Shs 8.5 billion in profits following a decades-long dispute over a property on Plot 49 Benedicto Kiwanuka Street. The case originated from a 1972 agreement between Hasanali Nathu Limited (HNL) and Shell and BP Uganda Ltd, predecessors to Thalion and Vivo Energy respectively….
Morrison Rwakakamba Having campaigned under the banner of making the United States the “Crypto capital” of the world, in his first week in office, President Donald Trump signed an Executive Order intended to support the growth of the United States crypto industry, signaling an intention to approach crypto and block chain regulation with the objective…
One of the bitterest episodes in tycoon Sudhir Ruparelia’s storied business life is the way he lost Crane Bank Limited to DFCU in January 2017. Bank of Uganda determined that Crane Bank was undercapitalized, opening the way for DFCU to take it over at a cost of Shs 200 billion. Crane Bank was the crown…
The deceased former secretary to the Treasury, Keith Muhakanizi, owns a 0.20% stake in DFCU Limited, making him the third largest individual shareholder in one of Uganda’s leading financial institutions. Only Sudhir Ruparelia (0.29%) and businessman Rakesh Gadani (0.26%) owned more individual shares in the institution than Muhakanizi, according to the bank’s annual report for…
DFCU Bank yesterday announced a profit after tax of Shs 72.1 billion for the financial year 2023/2024, turning a crucial corner as it recovers from the economic shocks of Covid-19. Speaking at the 60th Annual General Meeting held at Hotel Africana in Kampala, Jimmy Mugerwa, DFCU’s board cahirman reassured shareholders of the bank’s commitment to…
Uganda’s economy demonstrated strong performance in May 2025, with significant growth in GDP, exports, and private sector activity, according to the State of the economy report for May. The report, compiled by the ministry of Finance and Economic Development, highlights a 6.3% real GDP growth for the fiscal year 2024/25, alongside improvements in trade balances…
Crypto.com, one of the earliest players in the crypto space, has struck a deal with Emirates, one of the world’s most renowned airlines, in a bid to bring crypto payments to mainstream global travel, according to a press release issued on Wednesday. As part of a Memorandum of Understanding (MoU) signed on July 9, the…
The minister of Energy, Ruth Nankabirwa, has lauded the achievements made by the Uganda Electricity Distribution Company Limited (UEDCL), 100 days after taking over the distribution of electricity in the country. UEDCL took over from Umeme on April 1, 2025. A key achievement, Nankabirwa told journalists today, is the company’s ability to pay 100% of…
A comprehensive report from the Ministry of Finance, Planning and Economic Development has revealed significant challenges plaguing Uganda’s externally funded projects. Spanning sectors like agriculture, infrastructure, health, and education, the report highlights delays, funding shortfalls, and implementation constraints affecting critical development initiatives. The report details issues across numerous projects, including the Uganda Digital Acceleration Project,…
The Supreme Court has dismissed an application by Muhammad Kamoga, a property dealer, to stay his criminal prosecution for alleged forgery of land transfer forms, allowing the case to proceed in the Entebbe Chief Magistrate’s Court. The decision, delivered by Justice Monica K. Mugenyi, rejected claims that the prosecution would prejudice Kamoga’s pending civil suit…
Uganda’s private sector continued to experience improving business conditions in June 2025, marking the fifth consecutive month of expansion, according to the latest Stanbic Purchasing Managers’ Index (PMI). The PMI, compiled by S&P Global, dipped slightly to 55.6 from 56.4 in May but remained above the 50.0 threshold, signaling ongoing growth driven by increases in…
Uganda’s banking sector remains strong even when it is buffetted by several global challenges, the Bank of Uganda (BOU) Quarterly Financial Stability Review for March 2025 has revealed. The report notes that systemic risks have moderated, supported by strong domestic growth, low inflation, and BOU’s accommodative policies, although challenges like subdued private sector credit growth…
Uganda’s total electricity generation has reached 2,052 megawatts (MW) following the completion of the Chinese-built 600-MW Karuma Hydropower Plant, the minister of Energy Ruth Nankabirwa revealed yesterday. Nankabirwa told reporters that this marks a major milestone as the East African country works to secure affordable electricity to drive economic growth. The Karuma plant, financed by…
Huawei launched this year’s university job fair in Uganda, aiming to connect graduates with employment opportunities in the country’s information and communications technology (ICT) sector. The one-day event, dubbed the 2025 Campus Recruitment Program, was held at Kyambogo University, drawing hundreds of ICT students and recent graduates. It took place under the theme “The Sky…
Two years after the tragic death of Apollo Nyegamehe, popularly known as Aponye, a prominent businessman his once-thriving business empire is facing significant challenges, with key assets being sold to settle outstanding debts. The first building to go was Aponye City Mall on Burton Street in Kampala above the Old Taxi Park, which was snapped…
Nine Chinese hybrid goats, also known as Jianzhou big-eared goats, have arrived in Uganda to boost goat meat production and livestock industry. The goats — three males and six females — landed at Entebbe International Airport on the night June 30 after a journey of more than 10 hours from Chengdu, southwest China’s Sichuan Province….
Stanbic Bank has been recognized for its outstanding commitment to environmental sustainability after receiving the prestigious National Environment Management Authority (NEMA) Sustainability Award in the financial institutions category. Organized by NEMA, the awards acknowledge and reward organizations and individuals implementing innovative and impactful environmental initiatives. On behalf of the bank, Catherine Adengo, Head of Sustainability,…
Stanbic Bank has officially joined Kampala Restaurant Week 2025 as the official payment partner, bringing on board its innovative FlexiPay platform which offers, convenience, and exclusive rewards for one of the city’s most anticipated culinary events. The partnership underscores the bank’s ongoing commitment to supporting local industries while offering seamless digital payment solutions that elevate…
As much as the increasingly interconnectedness of the global economy presents valuable opportunities, it also exposes individual countries to significant risks, with emerging economies bearing the most brunt. The commodity price boom, the global financial crisis, the COVID-19 pandemic, and the Russia-Ukraine war provide cases of some of the global economic shocks that Africa has…
At Bayaya we market premium-quality coffee, ensuring that farmers uphold standards and earn sustainable incomes to support lasting livelihoods. Growing up in the rich highlands of Sironko in Eastern Uganda, Meridah Nandudu watched as coffee fueled the livelihoods of her community. Yet, behind the rich aroma of freshly harvested beans lay a stark of reality—many…
Uganda has overtaken Ethiopia to become Africa’s leading coffee exporter, according to a report released yesterday. In a statement issued by the Ministry of Agriculture, Animal Industry and Fisheries said the country exported 793,445 60-kg bags of coffee in May, earning $ 243 million. “Uganda’s coffee industry has reached a historic milestone. In May 2025,…
The Buganda Kingdom’s Powesa Sacco achieved a remarkable revenue growth, soaring from Shs 1.1 billion in 2023 to Shs 2.6 billion in 2024. The Sacco’s chairman of the board, Rashid Musisi Ssemanda, announced that this growth led to a significant rise in net profit, from Shs 23 million in 2023 to Shs 303 million in…
Stanbic Bank Uganda has announced the launch of a three-month nationwide campaign to boost its innovative digital payments platform, FlexiPay. The campaign dubbed the “Flexipay Cashback Explosion” kicked off at the offices of Boda Boda Banja, one of the bank’s key merchant partners in Kampala, with the goal of revolutionizing everyday transactions and accelerating digital…
Uganda Development Bank(UDB) announced a robust performance for 2024 registering a profit of Shs 57.8 billion. This marks a 16% increase from Shs 49.8 billion in 2023. During the release of the bank’s performance report yesterday, Dr. Patricia Ojangole, UDB’s managing director, emphasized the bank’s focus on resource efficiency and innovative funding to enhance its…
Uganda’s vanilla exports more than doubled in 2024, generating $16.6 million (approx Shs 60 billion) in revenue, authorities announced Tuesday. Uganda exported 604 metric tonnes of vanilla in 2024, up from 266 metric tonnes the previous year, said Fred Bwino Kyakulaga, minister of state for Agriculture at a press briefing in Kampala. “Vanilla has become…
The Ministry of Finance has unveiled a Shs72.136 trillion national budget for the 2025/2026 financial year, setting its sights on transforming every corner of the country into a hub of commercial activity. Presented by Finance Minister Matia Kasaija at the Kololo Ceremonial Grounds yesterday, the budget signals a strong shift towards full monetisation of Uganda’s…
Equity Bank Uganda, part of Equity Group, has launched a comprehensive staff audit to address unethical employee behaviour, Bbeg Media has learned. Sources told us that the bank that has 50 branches and hundreds of employees in Uganda, intends to tackle issues such as extortion, rudeness, negligence, and collusion with customers to defraud the institution….
Prudential Uganda has awarded Shs 135 million to the top five graduates of Makerere University’s Actuarial Science program as part of its ongoing efforts to grow actuarial talent in Uganda. The support is part of the Prudential Actuarial Support Scheme (PASS), launched in 2022 in partnership with Makerere University. The initiative recognizes academic excellence while…
Uganda is one of the countries most exposed to recent cuts in international aid, particularly with the dissolution of the US Agency for International Development (USAID). In 2023, about 5% of gross national income – a measure of a country’s total income, including income from foreign sources – was received in aid. The cuts have…
The Court of Appeal ruling last week that businessman Mohan Kiwanuka was mentally incapable of managing his business affairs could dramatically reshape the control of an empire spanning media, real estate, manufacturing, and logistics. Kiwanuka, 81, owns over 46 prime properties, 26 of which are in the upscale Kololo alone. The ruling followed a petition…
