The Government of Uganda has unveiled plans to phase out fuel-powered motorcycles in favor of electric motorcycles, as part of its efforts to improve air quality in the country. This revelation has been made by the Minister of Science and Technology, Dr. Monica Musenero today, during an announcement outlining the government’s environmental initiatives. Speaking on…
By Teddy Namayanja Uganda’s small and medium enterprises (SMEs) are about to get a major boost, thanks to a $15 million fund (approximately 68 billion shillings) from the East African Development Bank (EADB). This financial support will be channeled through three local banks: Centenary Bank, Housing Finance, and Opportunity Bank, benefiting around 1,500 SMEs. The…
By Amos Ssemuwemba In a significant move aimed at aiding Ugandans residing in the United Arab Emirates (UAE) without valid visas, the UAE government has introduced an amnesty program that offers a lifeline to those facing immigration issues. Launched on 1st September 2024, the initiative allows individuals to either leave the country without paying fines…
By Amos Ssemuwemba The National Social Security Fund (NSSF) has announced an interest rate of 11.5% for the financial year 2023/2024, marking a significant increase from last year’s rate of 10%. This announcement was made during the fund’s 12th Annual Members Meeting held today in Kampala, with Finance Minister Matia Kasaija highlighting the fund’s improved…
By Amos Ssemuwemba A Canada-based Ugandan businessman, Daniel Dennis Ssemugenyi, has accused DFCU Bank of unlawfully withholding his property titles despite fully settling a mortgage loan. He claims the bank forced him to repay the UGX 226 million loan for a condominium in Naalya within two and a half years, instead of the agreed 13…
By Amos Ssemuwemba President Yoweri Museveni is set to commission the Karuma Hydropower Plant today, marking a transformative moment in Uganda’s energy landscape. The 600-megawatt facility, the largest in the country’s history, is expected to not only boost power supply but also drive economic and social development through improved access to affordable electricity. The project’s…
The European Union (EU) has pledged €10 million (UGX 41.4 billion) to support Uganda’s tourism sector.
By Amos Ssemuwemba The Deputy Speaker of the Ugandan Parliament, Thomas Tayebwa, has expressed gratitude for the Chinese Government’s commitment to invest US$51 billion in Africa over the next three years. Tayebwa made these remarks during a meeting with members of the Financial and Economic Committee of the National People’s Congress of China, emphasizing the…
