Category «Business»

BOU returns Libyan assets

The Governor of Bank of Uganda Prof. Emmanuel Tumusiime Mutebile has today returned Tropical Bank Uganda Ltd to its majority shareholders of the Libyan foreign bank. The Central Bank took over the management of the bank following a UN Security Council resolution, which imposed a freeze on all assets of the Libyan government. The freeze …

UNBS probe instituted

The minister of trade and industry Amelia Kyambadde has today announced a commission of inquiry into Uganda National Bureau of Standards over allegations of corruption and abuse of office. This comes weeks after the minister suspended the Executive Director of UNBS Dr Terry Kahuma over what the ministry described as various management problems and weaknesses …

Wandegeya kiosks demolished

Kampala Capital City Authority has today demolished illegal structures in Wandegeya. The road side kiosks operating illegally in the area have all been demolished. The owners of containers have been given one day to relocate them following pleas to the KCCA officials not to drag them away. The authority‚Äôs head of law enforcement Patrick Katungyi …

Bank of Uganda sued

Bank of Uganda has denied responsibility in the case in which it was sued, over a sculpture used on the 20,000 shs note. The Bank was sued by a Makerere University lecturer Sylvia Nabiteeko Katende for 1 billion Shs, over alleged violation of her intellectual properties. Through her lawyer Masembe Kanyerezi, the bank says the …

Counterfeits Law to be fast tracked

  Government is asking partner states in the East African Community to enact legislation on counterfeit products if the vice is to be checked. Uganda is in the final stages of amending the Anti-counterfeits law while Kenya is the only country within the community with strong legislation on sub-standard products. The new law is expected …