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Equity Group Holdings Plc and DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, the German Development Finance Institution (DEG), announced the launch of the German Desk for the East African market. The German Desk is part of Equity Group’s efforts to reach out to a broader range of European SMEs and entities. It will provide comprehensive relationship management and financial services to European SMEs, and their local partners in the region. The German Desk will offer a wide range of services, including account opening, trade facilitation and finance, transaction banking, credit lines, introductions, and investment through financing. These services are designed…
Mityana Municipality MP, Francis Zaake, has vowed to take legal action against Akol Anthony, the MP for Kilak North, following a violent altercation in Parliament during a heated debate on the National Coffee (Amendment) Bill on Wednesday November 6th 2024. Zaake claims Akol physically assaulted him, delivering two heavy punches to the head that left him injured and in need of medical treatment. According to a legal notice issued by Zaake’s lawyers, Lukwago & Co. Advocates, the assault occurred in full view of other MPs and was captured on parliamentary footage. The attack caused Zaake to fall to the ground,…
Reading has from time memorial been attributed to better a child’s development. Numerous studies have highlighted that reading helps with building literacy skills, fosters social interaction between children and adults, creates an imaginative world, and is a stable source of information throughout a child’s life. Esther Birungi, a teacher and proprietor of the Children’s Book Club (CBC) – Kiwatule says: “Reading is important for children because it helps with building reasoning, language development, faster information processing, deeper understanding, develops empathy while building stronger relationships in life. I urge parents to purposefully encourage their children to read a book every week…
MTN Uganda has announced a 29.6% year-on-year increase in profit after tax, totaling Shs 459.4 billion for the nine months ending September 30, 2024. The growth was largely attributed to exceptional performance in MTN Uganda’s data and fintech segments, aligned with the company’s commitment to digital and financial inclusion in Uganda. Service revenue grew by 20.1% year-on-year, reaching Shs 2.31 trillion, with strong gains in data (up 30.1%) and fintech services (up 23.5%). MTN Uganda’s CEO, Sylvia Mulinge, attributed this robust growth to the company’s strategic focus on expanding high-demand services while improving operational efficiencies. “Our substantial growth in profit…
The National Social Security Fund (NSSF) has emerged the Gold Award winner at the 2024 Financial Reporting (FiRe) Awards, scooping four prestigious accolades, including the overall Gold Award for Excellence in Integrated Reporting. The other accolades received included the recognition for the best Sustainability Reporting Award 2024, Parastatal of the year award, and a Certificate of Recognition for outstanding achievement in Corporate Governance. The awards, organized by the Institute of Certified Public Accountants of Uganda (ICPAU), recognized NSSF’s exemplary performance across all reporting dimensions. The Fund’s integrated annual report was praised for its articulation of its strategy and performance over…
In a significant legislative decision, Uganda’s Parliament has approved the Uganda National Roads Authority (Repeal) Bill, 2024, effectively dissolving the Uganda National Roads Authority (UNRA). The bill’s passage marks a shift in the country’s approach to infrastructure management, with UNRA’s responsibilities set to be integrated into the Ministry of Works and Transport. The bill passed with amendments for a smoother transition, reflects broader government policy to streamline and consolidate public service agencies. A Transition Without Job Losses Hon. Gen. Edward Katumba Wamala, Uganda’s Minister of Works, reassured the public and UNRA employees that UNRA’s dissolution would not lead to job…
On Wednesday, the Ugandan Parliament passed the National Coffee (Amendment) Bill, 2024, marking a significant shift in how the coffee sector is managed. The new legislation dissolves the Uganda Coffee Development Authority (UCDA) and transfers its functions to the Ministry of Agriculture, Animal Industry, and Fisheries (MAAIF). Key Amendments and Structural Changes The National Coffee (Amendment) Bill, 2024, enacts the rationalization of the UCDA, a key institution in Uganda’s coffee sector, responsible for regulating and promoting the country’s coffee industry. With the bill’s passage, UCDA’s responsibilities will now be managed under MAAIF, aiming to streamline agricultural governance. This change is…
Tensions erupted in Parliament on Wednesday during a heated debate over the controversial National Coffee (Amendment) Bill, 2024. The Speaker of Parliament took drastic action, suspending 12 MPs after a physical altercation unfolded in the chambers. The scuffle began when Kilak North MP Anthony Akol and Mityana Municipality MP Francis Zaake clashed over a seat. Zaake had briefly vacated his seat to raise a point of order, expressing concern over unauthorized individuals allegedly carrying guns within the parliamentary chambers. He claimed that the presence of armed individuals endangered MPs. The Speaker clarified that the individual Zaake was referring to was…
Mityana Municipality MP Francis Zaake has been rushed to the hospital following a scuffle that erupted in Parliament’s chambers during a plenary session. The incident began after Zaake voiced security concerns, claiming that individuals who were not MPs had entered the chambers carrying firearms. After making his submission, Zaake allegedly approached Kilak North MP Anthony Akol’s seat and attempted to occupy it, which led to a confrontation. In video footage circulating on social media, Akol can be seen repeatedly punching Zaake, who ultimately falls to the ground. VIDEO: Parliament takes a break after a fist-fight broke out between some legislators…
Today, 798,763 candidates across Uganda are set to sit for their Primary Leaving Examinations (PLE), a critical national assessment that marks the culmination of primary education. According to Ms. Jenifer Kalule, the spokesperson for the Uganda National Examinations Board (Uneb), students were briefed on Monday to prepare for the exams by their head teachers and invigilators. Exam Schedule: Mathematics and Social Studies on Day One, Science and English on Day Two The PLE exams are scheduled over two days. Today, candidates will sit for the Mathematics paper in the morning, followed by Social Studies and Religious Education in the afternoon.…