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…
The Uganda Electricity Distribution Company Limited (UEDCL) has pledged to process all pending power applications from former UMEME customers to boost power connections across the country. Jonan Kiiza, spokesperson and head of corporate and stakeholder affairs at UEDCL, told Bbeg Media at his office in Nakasero that UEDCL wants to tackle the backlog of 27,729…
The Court of Appeal has ruled that businesman Mohan Musisi Kiwanuka has been suffering from Alzheimer’s disease and dementia since 2017, and is therefore incapable of managing his affairs. It has also ordered that the businessman convenes a family meeting within 30 days to appoint a manager of his estate. The meeting, court ordered should…
Renowned Indian spiritual leader Jayramgiri Bapu, the 14th successor of the historic 900-year-old Bujirat Temple in India, has arrived in Uganda for a five-day visit aimed at fostering bilateral cooperation in trade and tourism. The visit, which coincides with the annual Uganda Martyrs Day celebrations on June 3, underscores the growing ties between Uganda and…
Parliament has approved a government proposal to borrow up to €270 million (Shs 1.1 trillion) from the African Export-Import Bank (Afreximbank) and €230 million (Shs 940 billion) from Ecobank Uganda and the Development Bank of Southern Africa (DBSA) to finance the 2024/2025 national budget. This amounts to €500 million (Shs 2 trillion). The debate on…
Government today officially launched the National Budget Month for 2025/26, emphasizing its commitment to inclusive and transparent governance in public resource management. The launch, presided over by Matia Kasaija, the minister of Fiance, also introduced the National Public Investment Management (NPIM) Policy, a transformative framework aimed at revolutionizing Uganda’s public investment planning, implementation, and monitoring….
With less than a week to the Martyrs Day celebrations, business activity at both the Anglican Site and Catholic Shrine in Namugongo is experiencing a significant downturn compared to previous years. Bbeg Media visited the Anglican section of the shrine and observed a limited number of businesses, including catering services, retail shops, restaurants, and vendors…
Dr Patricia Ojangole, the managing director of Uganda Development Bank, has been appointed chairperson of the Association of African Development Finance Institutions (AADFI), the umbrella organization for development finance institutions in Africa. Dr. Ojangole’s appointment was announced during the 51st Ordinary General Assembly of AADFI, held on May 26, 2025, at the Sofitel Hotel Ivoire…
Damali Ssali has been appointed country director of Global Alliance for Improved Nutrition (GAIN) Uganda. The organisation’s mission is to improve the consumption of healthier diets for all, especially the most vulnerable, by improving the availability, affordability, desirability, and sustainability of nutritious and safe foods, and reducing the consumption of unhealthy and unsafe foods. Ssali,…
A delegation of Chinese investors is touring Uganda to establish business ties with local coffee farmers, as demand for the cash crop surges in China’s growing market. After visiting various coffee farms as well as farmers’ cooperatives in the eastern and western parts of the East African country, the visiting Chinese delegation, alongside officials from…
Quality Chemical Industries Limited (Qcil) has secured a $ 36 million (Shs 133 billion) debt facility from Stanbic Bank Uganda to construct a second manufacturing facility. The new facility will increase production capacity for Qcil’s existing portfolio and enable the company to expand into new therapeutic areas, including the production of injectable medications. Qcil, founded…
Uganda’s missions abroad will have a steady supply of Uganda Waragi thanks to Uganda Breweries Limited (UBL). The firm signed a five year Memorandum of Understanding with the Ministry of Foreign Affairs to supply Uganda Waragi and other locally made products. UBL Managing Director, Andrew Kilonzo, welcomed the move noting that it signals the public…
The Uganda Bankers Association (UBA) has named Kenneth Agutamba, Stanbic Bank Uganda’s Country Manager for Reputation and Corporate Communication, as the new chairperson of the Peer Committee on Marketing and Communication. He succeeds DFCU’s Jude Kansiime. Agutamba’s appointment follows a sector-wide nomination and consultation process that resulted in his unanimous endorsement. He will serve alongside…
Stanbic Bank Uganda’s new mortgage solution breaks financing barrier to home ownership. For most working Ugandans, the dream of owning a decent home remains just that—a dream. With soaring construction costs, high interest rates, and a complex mortgage application process, many lower-middle-class earners find themselves locked out of the property ladder. Despite the fact that…
The BMK Group has said it intends to create more employment opportunities for Ugandan youth. The managing director of Hotel Africana Limited, Haruna Kalule Kibirige told Bbeg Media at his office in Kampala that through their various companies under the BMK group more jobs will be created to help young skilled people. “We are committed…
The minister of state for Gender incharge of PWDs Asamo Hellen Grace has lauded the Bank of Uganda for engaging people with disabilities in its development programmes. “We are very happy to see inclusivity of people with disabilities in the suppliers meeting,this will also help them to participate effectively in business,” she told Bbeg Media….
In a move to accelerate Uganda’s transition from subsistence agriculture to a modern, industrialized agro-economy, Stanbic Bank Uganda, in partnership with the Ministry of Agriculture, Animal Industry and Fisheries (MAAIF), hosted the inaugural Consumer Convention 2025 in Kampala. The high-level forum attracted stakeholders from government, agribusiness, financial services, and the development community to discuss scalable…
Airtel Uganda has handed over Shs 37.9 billion to the Uganda Communications Universal Service and Access Fund (UCUSAF), reinforcing its commitment to expanding digital connectivity across Uganda. This represents an 11.4% increase from last year’s contribution. The contribution represents 2% of Airtel Uganda’s gross annual revenue for the financial year ending 31st December 2024, in…
The Supreme Court has issued a temporary injunction stopping I&M Bank from recovering Shs 10. 3 billion from businessman Haruna Sentongo for defaulting on his debt. The injunction will last four months until Sentongo’s appeal against the bank concludes. Last month, the Court of Appeal dismissed an application by Sentongo to stop the bank from…
Three ladies returning after a streak of work in the Middle East recently raised suspicion at Entebbe Airport. Known as ‘Kadamas’ they walked majestically, clad in head veils. They had an unusually high number of suitcases. It is those large suitcases that became the problem. For starters, the ladies did not want the suitcases to…
Standard Chartered Bank Uganda, a cornerstone of the country’s financial landscape since 1912, faced an unprecedented setback in 2024, with net profits after tax plummeting by over 70% to Shs 19 billion from Shs80 billion in 2023. This dramatic decline, reported in its financial statement for the year ending December 31, 2024 has sent shockwaves…
Stanbic Bank Uganda, through its for Her initiative, has partnered with UN Women to launch a transformative programme in the West Nile sub-region, targeting both refugee and host communities. The initiative is designed to empower women through digital inclusion, financial literacy, and sustainable livelihood support. “Our work in West Nile is grounded in the belief…
In a bold step signalling a new era in Uganda’s energy and mineral sector, the Uganda Chamber of Energy and Minerals (UCEM) has officially repositioned itself as a national leader in clean energy advocacy and sustainable mineral development. The announcement was made last week at a gathering of leaders in the energy and minerals sector….
As the country mourns Rajiv Ruparelia following his tragic death, his father, business mogul Sudhir Ruparelia, faces a profound personal loss and a daunting business challenge: who will succeed him to lead the vast Ruparelia Group? The group is a cornerstone of Uganda’s economy, with a portfolio that includes iconic properties like the Speke Resort…
By Denis Waliggo In today’s rapidly evolving world, the creative industries hold immense potential for shaping livelihoods and driving economic growth. From fashion design to digital animation, interior design to graphic arts, creative fields not only satisfy personal passions but also provide significant career opportunities. However, the decision to pursue a creative program is not…
Mumba Kenneth Kalifungwa, the Chief Executive of Stanbic Bank Uganda, once again demonstrated his golfing skills over the weekend during the Stanbic April Mug Challenge, ending up ranking in top 10 of competing players. He was amongst the first to tee off at 8am at the Uganda Golf Club at Kitante. “I am thrilled to…
Stanbic Bank Uganda has donated essential medical equipment valued at Shs 25 million to Mpugwe Health Center III in Masaka. The donation includes three delivery beds, two oxygen concentrators, and 100 Mama Kits, all identified as critical by the facility’s administration to enhance maternal and emergency care. The handover ceremony was led by Stanbic Bank…
Anthony Natif took on Friecca Pharmacy, won the first round. Friecca then won the second round, and eventually, Natif was kicked out of his building, dubiously. **** Friecca Pharmacy in Wandegeya should be entered into our folklore. For more than two decades, it has been one of the most thriving pharmaceutical businesses in Kampala, thanks…
The business relationship between MTN Uganda and VAS Garage Limited kicked off inconspicuously. One late afternoon in 2012, VAS Garage, a mid-sized content creator and developer, was approached by MTN. For some time, MTN had been impressed by the firm’s creativity in content development and wanted the two to partner and make some money. In…
The PPDA tribunal has cancelled a Shs 5.7 bn insurance deal that the National Medical Stores (NMS) had awarded to Sanlam General Insurance after a competitor, UAP Old Mutual Insurance, proved it had been eliminated unfairly. UAP Old Mutual had appealed to the tribunal challenging NMS’s decision to award the contract for comprehensive insurance for…
Parliament has passed the Sugarcane (Amendment) Bill, 2023, which provides for a stakeholder council to self-regulate the sugarcane industry. The Sugarcane (Amendment) Bill, 2023 was passed during plenary sitting yesterday. The lawmakers approved a recommendation of the committee on Trade, Cooperatives and Industry, which first considered the Bill, to replace the Sugar Board as established…
Airtel Uganda has reinforced its commitment to providing superior network connectivity by commissioning five new network sites in Soroti city. The expansion is part of Airtel’s ongoing investment in enhancing network coverage and delivering an exceptional digital experience for its customers in the greater Teso region. The new site in Soroti is one of several…
The ministry of Energy and Mineral Development is developing a communication strategy on nuclear energy. This was revealed by Dennis Tusiime, the senior energy officer at the ministry, while talking to BBEG Media. He said due to the enormous benefits of nuclear energy, the ministry has developed a strategy that will help the country in…
The former minister of state for Finance, Fred Jachan Omach, has urged President Museveni to intervene in the affairs of an idle mango fruit factory in West Nile that was commissioned in January 2021. “We appeal to the president to help us revitalize our Mango factory in West Nile because we are the food basket…
Buganda has signed a deal with Psalms Food Industries, the makers of Sumz snacks, to supply plantain (gonja), which is one of the company’s main products. This was revealed by Alfred Bakyusa, the chief executive officer of the Buganda Cultural and Development Foundation (BUCADEF), while touring Gomba county last week. “According to our findings, Gomba,…
Airtel Uganda has pledged to deepen its relationship with Buganda in relation to the annual Kabaka birthday run. Ali Balunywa, the director of Sales and Distribution at Airtel Uganda, told Bbeg Media that they were deeply impressed by the numbers that turned up yesterday for Kabaka’s birthday run. “This time, we brought 120,000 kits, and…
Airtel Uganda has launched five new network sites in Kabale Municipality in a bid to improve its network. The new sites are located at Kyetobokeire, Kekuubo, Nyabushabi, Rwakabara, Ahakempu – Katuna Road, Irimbo – Katuna Road, Mwanjari, and Kigongi, will enhance call clarity, boost internet speeds, and improve overall coverage. Speaking at the commissioning event,…
In 2013, Haruna Sentongo, an enterprising young businessman, hatched a project that would endear him to his parents. It would also help him keep scores with his more successful and flamboyant brother, Hamis Kiggundu. Sentongo had just opened Haruna Shopping Mall in Ntinda, following his Haruna Towers in Wandegeya Kubiri, and was brimming with business…
By Sheilla Kemigisa Employee engagement is the lifeblood of any successful organisation. According to Forbes, employee engagement is the emotional commitment the employee has to the organization and its goals. It drives productivity, sparks innovation, and fosters a workplace culture where employees are motivated to perform at their best. However, maintaining high levels of engagement…
Uganda Electricity Distribution Company (UEDCL) officially took over electricity distribution from Umeme, whose concession expired today. The journey started way back in 2005 when government of Uganda signed an agreement with Umeme to improve on the power services. Umeme Managing Director, Selestino Babungi, said it had been a long but fruitful journey for the company….
Women are critical to achieving economic growth and alleviating poverty considering they dominate a vital sector of Uganda’s economy – agriculture. The latest census figures indicate that out of Uganda’s total population of 45.9 million, 24.3 million are female, representing 53%. Despite this demographic advantage, findings from the 2024 population census further reveal that only…
Network International (Network), a leading enabler of digital commerce in the Middle East and Africa, has extended its partnership with Dubai-based carrier flydubai to introduce mobile money payments for its customers in Kenya and Uganda. This move will facilitate seamless transactions for bookings and other airline-related services in the East African Region, enabling travellers to…
The Uganda Development Bank (UDB) has launched the Reshaping Industries for a Sustainable Economy (RISE) Program. This initiative is expected to transform the way the Bank deploys its resources within the economy. The bank said RISE seeks to address modern-day challenges, diversify the economy, and establish high-tech, high-value-added, high-income, and truly green businesses and projects….
Hundreds of Muslim faithful broke the Fast during a high-profile Iftar dinner hosted by Stanbic Bank on Tuesday evening at the Sheraton Kampala Hotel. The event, which gathered prominent leaders and the bank’s clients, celebrated the Holy month of Ramadan in an atmosphere of community spirit. The interlude is observed by Muslims worldwide as a…
Speaker Anita Among has called for a fight against illicit financial flows that see Africa lose an estimated $88 billion annually. Among made this call while presiding at the African Organisation of Public Accounts Committee (AFROPAC) Conference and Fifth Annual General Meeting at Golden Tulip Hotel, Kampala on Monday, 17 March 2025. “The impact of…
It would not be a stretch to say that the coffee sector is the backbone of Uganda’s economy. It contributes significantly to foreign exchange earnings and supports millions of livelihoods. Last year, the country earned Shs 6 trillion from coffee exports. With more strategic investments, experts believe the country can even earn much more from…
