Author: admini
Helping owners of social enterprises and micro small and medium enterprises (MSMEs) understand how to source financing is a vital factor for the sustainable growth of their businesses. Under the theme, ‘Building access to finance ecosystem for MSMEs and Social enterprises’, the Nairobi-based Strathmore Global Institute hosted its first ever Annual MSME and Social Enterprise Conference in Kampala on January 30. A diverse gathering of entrepreneurs, industry experts, and thought leaders from across East Africa, discussed the challenges and opportunities for MSMEs and social enterprises to access financing post Covid-19. Participants also had an opportunity to gain valuable insights, network…
President Yoweri Museveni, Commander-in-Chief of the Uganda People’s Defence Forces (UPDF), has authorised the promotion of 395 officers across various ranks. The promotions, announced by UPDF Spokesperson Brig. Gen. Felix Kulayigye, affect both senior and junior personnel. One Colonel has been elevated to Brigadier, while four Acting Colonels have been confirmed in their rank. 18 Lieutenant Colonels have ascended to the rank of Colonel, and five Acting Lieutenant Colonels have been confirmed. Furthermore, 61 Majors have been promoted to Lieutenant Colonel, two Acting Majors to Major, and a substantial 92 Captains to Major. Additionally, two Acting Captains have been confirmed…
The Deputy Speaker of Parliament, Thomas Tayebwa, has directed a house committee to intervene in a likely crisis, where the African Development Bank (ADB) may possibly suspend funding for the ongoing road reconstruction in the capital, Kampala. Tayebwa, who said to have read a letter to effect the suspension on 01 February 2024, said it was urgent for the Committee on Physical Infrastructure to expeditiously assess the matter before the deadline. “The best way is for the committee to summon the minister in charge of Kampala Capital City Authority (KCCA), and the KCCA leadership and be able to report to…
The national coordinator of the Operation Wealth Creation Gen. Salim Saleh has finally let the cat out of the box regarding his doubts on Gen. Muhoozi Kainerugaba’s military capabilities. This comment was made recently on event where different army officers including Muhoozi were decorated after a promotion in the Uganda People’s Defense Forces (UPDF) by the Commander in Chief Gen. Yoweri Kaguta Museveni. Muhoozi who is now a Four Star Genral was pipped by, Gen Salim Saleh and his wife Charlotte Muhoozi at the Bombo Military Barracks. Gen. Saleh said he is happy that his friend, Gen. Muhoozi is now…
Uganda Development Bank (UDB), the country’s national Development Finance Institution, has today signed a Loan Portfolio Guarantee agreement with the African Guarantee Fund (AGF), to scale up lending to SMEs, Women, Youth-affiliated businesses, and green projects in Uganda with credit worth UGX16 Billion (approx. USD5 million). The announcement was made during an agreement signing ceremony that was held at the Sheraton Kampala Hotel. Patricia Ojangole, the UDB Managing Director while re-affirming the partnership, said UDB and AGF are working as strategic partners to facilitate and accelerate the development of underserved business segments in key growth sectors including agriculture, manufacturing, and…
KCB Bank Uganda, has partnered with Mkazipreneur, a Ugandan based community platform dedicated to fostering and advancing women entrepreneurship in Africa, and one that supports working women in both the informal and formal sectors through financial literacy. KCBU, through its initiative dubbed KCB Flme, will work closely with Mkazipreneur to bridge the gender gap in accessing financial services and empower women. Through this partnership, Ugandan women will be able to access an all-encompassing package, including salary loans, unsecured business loans, overdrafts, mortgages, and personal and life insurance; services that have been predominantly utilized by men. This partnership will also be…
Savings and Credit groups are common across Africa. While they have contributed greatly to the development of local communities, their strong reliance on manual and cash-based processes makes them prone to fraud and mismanagement. But, innovators are now using technology to counter these challenges by developing platforms that digitize these savings and credit groups. One such platform in Tanzania is the Koba APP. Koba simplifies the management of group finances, enhances communication among group members, and provides a platform for financial empowerment. It’s a versatile tool designed to facilitate collaborative financial activities and promote responsible financial practices within communities. According…
Police in Kamuli district have intensified their manhunt for three assailants whom they say waylaid and killed a pastor at the weekend. Edward Buyagwe, 45, the Pastor of Lulyambuzi Pentecostal Church, Wankole, and also the LC2 Chairperson of Lulyambuzi Parish, Wankole Sub-county, Kamuli District, was reportedly waylaid on January 27 at around 9:30 pm as he returned from escorting a visitor Busoga North Police Region Spokesperson, Michael Kasadha, said they have mounted a manhunt for three key suspects namely to aid in the murder investigation. “Preliminary investigations indicate that the deceased was an LC2 chairperson and Pastor. He was waylaid…
Family members of some of the missing Ugandans who were allegedly abducted by security operatives ahead of the 2021 general election have petitioned the High Court in Kampala seeking their unconditional release. Represented by city lawyer, George Musisi, the distressed family members want court to declare their relatives’ continued detention without trial as a violation of their Constitutional right to liberty. According to the leader of Opposition Hon. Joel Ssenyonyi, the National Unity Platform is committed to use all avenues at their disposal to demand justice. “Together with the affected families, we filed a matter in court regarding the 18…
Centenary Bank, a leading commercial microfinance institution committed to delivering innovative and customer-centric banking solutions, today announced the launch of its latest innovation, CenteWhatsApp banking. This pioneering service is designed to provide customers with convenient and secure access to a wide range of banking services directly through the widely used messaging platform, WhatsApp. CenteWhatsApp banking leverages the ubiquity of WhatsApp to bring banking services closer to customers, ensuring they can transact anytime, anywhere, through the messaging platform on their mobile devices. This initiative represents a significant step towards redefining the banking experience and promoting financial inclusion in Uganda. While launching…