Category «Business»

Terry Kahuma fights interdiction

Interdicted Uganda National Bureau of Standards Boss Terry Kahuma has gone to court, challenging his dismissal from office. Kahuma says the investigations on which his sucking was based were illegal and wants to be reinstated into his office. In the petition filed before court, Kahuma accuses Trade Minister Amelia Kyambadde, of having unlawfully instituted a probe into the affairs of UNBS, leading to his dismissal. Kahuma was interdicted after 10 years of service as the standards bureau’s executive director, over reported insubordination and working against the interests of UNBS. He says the findings of the probe are not in anyway linked to the reasons given for interdiction. Through his lawyers of Muwema Mugerwa Advocates, Kahuma also says he was condemned …

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 was imposed at the height of political instability in the country, which saw its former President Col Muammar Gaddafi overthrown and killed. The Central Bank Governor Prof. Emmanuel Mutebile says, the bank has been operating in a safe and sound manner under the guardianship of Bank of Uganda. While handing over the bank to its Chairman of the Board of directors Gerald Sendawula, Mutebile revealed …

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 in the agency. The standards bureau is alleged to have been involved in corruption, extortion and poor performance, marked by increased public complaints. The minister of trade and industry Amelia Kyambadde says, there is been increasing concern over the deteriorating reputation of the agency which needed to be investigated. Kyambadde reveals that, the commission of inquiry is expected to conduct its investigations in a period …

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’s head of law enforcement Patrick Katungyi says the vendors operating illegally were given adequate notice to vacate the area. He says the demolition exercise that has previously been conducted in the central division will now be spread to the outskirts, to ensure a more orderly city. The evictions have been conducted along Makerere road, in Wandegeya trading centre and along the road towards Bwaise. Today’s operation saw KCCA partnering with the …

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 artist was paid by then KCC for the sculpture for the work done. The bank also argues that the sculpture is in a public place and anyone can take pictures of the same. Katende however says her sculpture shouldn’t have been used by the Bank without consulting her. She says the sculpture which appears on the left hand side of the 20,000 Shs note released …