Category «Business»

City businessman Kashoma acquitted of fraud charges

City business man Justus Kashoma has been acquitted of attempting to defraud Stanbic Bank. Kashoma was charged together with five people including Bank officials who were acquitted last year for lack of sufficient evidence. He was arrested at Stanbic Bank’s Garden City Branch in Kampala for allegedly trying to withdraw $ 500,000 in cash. The total amount that had been wired into Kashoma’s accounts was $3.8m. Delivering judgment today, Buganda Road Court Chief Magistrate Eleanor Mary Khainza said the evidence adduced does not show that Kashoma could rob a bank alone after the acquittal of the five. The five acquitted earlier include Private David Muhumuza, a driver of Rujumbura MP Jim Muhwezi, Capt. Muzamiru Wakulira and three Stanbic Bank employees …

Pioneer Easy Bus hikes rates

Pioneer Easy Bus Company has hiked transport fares, following up on a threat issued last week. Passengers traveling to the areas of Mbuya and Bugolobi now have to part with Shs 1000 up from Shs 500 charged previously. Those traveling to destinations like Seeta and Bweyogerere are being charged Shs 1500 compared to the Shs 1,000 they have been paying. The hike in transport fares follows the expiry of an ultimatum the company gave KCCA to fulfill its contractual obligation. Attempts to get a comment from the Company Director John Masanda have so far remained futile as he does not answer his phone. However earlier, the Kampala Lord Mayor Erias Lukwago described the move by pioneer as illegal and unacceptable. …

Pension scam: CID raids law firm

Officials from the Criminal Investigation Department Investigating the pension scam have raided a law firm in relation to the saga. The firm called O.N Osinde and Company Advocates is located near Cairo International Bank Kampala road and is said to be defending the two suspects implicated in the pension scam The investigators have confiscated files containing information concerning the property of the suspects under investigations The suspects under investigations are David Oluka an accountant in the Public Service Ministry and Christopher Obei the principal accountant. The Police says that this is part of its efforts to establish the wealth belonging to the suspects to assist in their investigations. Officers from CID have also raided two companies suspected to be belonging …

Aguilera advises in Daily Monitor Thought Leaders Forum

With the growing innovations in technology that seem to be eroding jobs, the former Chief Executive Officer of Google Isabel Aguilera has advised employers to balance between embracing technology and retaining human resource. Speaking during the Daily Monitor Thought Leaders Forum Aguilera noted technology is leading to unemployment, affecting economic growth. She says this practice has been appreciated by Google, through training employees to be able to maintain their jobs and at the same time enhancing technology for efficiency; Aguilera was invited by Monitor Publications Limited to give business advice to the local business community during these tough economic times. Isabel Aguilera is one of the most influential speakers in the world according to Forbes magazine also doubling as the …

Gorilla population increases

Uganda is to partner with the other East African countries to form one regional Tourism market. Uganda was ranked the number one world Tourism destination early this year by Lonley planet. Addressing journalists, the minister for tourism wildlife and Antiquities Maria Mutagamba said that a master plan has already been developed to boost the tourism sector in the region. She however cautions Ugandans to embrace for the competition that comes with a joint market.