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The increasing debt burden facing the country continues to bother Members of Parliament on the Budget Committee who have put the Ministry of Finance, Planning and Economic Development to task on how to manage it. According to the State Minister for Finance, Hon. Henry Musasizi, the total debt stock as of June 2023 stood at US$23.7 billion, compared to December 2022 when it stood at US$21 billion. Musasizi made this revelation while presenting the National Budget Framework Paper for financial year 2024/2025 – 2028/2029 before committee chaired by Hon. Patrick Opolot Isiagi. AUDIO Musasizi Musasizi said that despite the rise…
As we step into the new year, it’s imperative to reflect on the lessons learned from the past month, a period marked by joyous celebrations but also overshadowed by the grim reality of road accidents in Uganda. The festive season of December 2023, much like previous years, witnessed a surge in road traffic incidents, a recurring challenge that has become a sombre hallmark of this time of year. The statistics from the Traffic and Road Safety Directorate are sobering. In just the 48 hours of December 25th and 26th, 33 precious lives were lost, and 156 people sustained serious injuries.…
Catalytic government initiatives like Emyooga and the Parish Development Model have led to a surge in savings and credit cooperative organizations (SACCOs) – now at 33,000 and the need for apps to improve their operations. Like many members of these SACCO’s, Mariam from Iganga district says she joined a savings group to raise funds to educate her children, elevate her standard of living, and to secure money for medical emergencies or unexpected financial crises. Yet, amid these ambitious aspirations lies a myriad of challenges. SACCOs face a multifaceted array of hurdles, such as a dearth of financial resources for new…
Popular Media personality and news anchor Rukh-Shana Namuyimbwa over made a surprising announcement as she revealed her decision to part ways with Next Media after an impressive 8-year stint, where she notably anchored the NBS Live at 9 news bulletin throughout this period. Expressing gratitude, Rukh-Shana reflected on the invaluable experiences and relationships forged during her journey at the station. She acknowledged that these years not only shaped her professional trajectory but also served as a profound personal exploration. Collaborating with a diverse and talented group broadened her perspective, fostering an appreciation for the richness of unique viewpoints within the…
Mastercard’s second annual Community Pass Customer Summit in Kampala, Uganda gathered more than 90 public and private sector partners, featured 20+ thought leaders dedicated to crafting sustainable solutions for digital and financial inclusion across Africa and beyond. This year’s summit showcased over 10 cutting-edge technologies and financial institutions, each presenting their digital solutions designed to include underserved communities across the agriculture, health, micro-commerce, and education. The event also featured interactive panel discussions focusing on the impact of digital technology in promoting service delivery and economic growth in remote areas. The sessions explored themes such as credit access, last mile delivery…
One of the key challenges faced by credit-offering institutions is payments’ collection. Many customers fail to pay promptly because they don’t have the funds while others may have the funds but are simply unwilling to comply. This is further worsened by the hard economic times currently witnessed globally. However, innovators are using technology to address some of these issues. One of the tools being used in Tanzania to support payments’ collections is eMakato; a platform that allows service providers and financial institutions to automate their payment collection processes; interfacing with their customers to promote a unified procedure and digitally enhance…
Customers are always looking out for new gadgets and the latest devices so that to keep up with the fast-moving world. While the demand for new gadgets, devices and accessories is never-ending, the prices are always a turn-off. These products are not only expensive but most of the stores require customers to make full payments for any purchase. Nonetheless, technology is addressing some of these challenges. Thanks to financial technology, customers are now able to get access to their favourite products on credit, commit to periodic instalment payments and fully own the products when the entire payment is down. Among…
In a jaw-dropping legal tussle that can only be described as a blockbuster courtroom thriller, DFCU Bank Ltd and its former managers find themselves dragged into the legal coliseum of the United Kingdom. This follows a resounding defeat in their desperate bid to escape the clutches of justice in the Crane Bank Case. The hallowed halls of the Supreme Court of the United Kingdom in London became the stage for a high-stakes battle, where the embattled DFCU Bank Ltd and its cohorts faced a merciless dismissal with costs. The appellants, including the likes of Juma Kisaame, Jimmy Mugerwa, and William…
In 2024, T.B. Joshua’s Net Worth 2024 was around $10 Million. In this article, we will learn about T.B. Joshua’s Net Worth: Nigerian Minister Financial Legacy, Controversies, and Lifestyle in a Deep Dive Documentary. Joshua, a Nigerian pastor and televangelist, founded and led the Synagogue Church of All Nations, which is a Christian megachurch that operates the Emmanuel TV television station from Lagos, Nigeria. Joshua was a popular figure in Africa and Latin America with a significant social media presence. He had over six million Facebook fans and his YouTube channel, Emmanuel TV, was the most-watched Christian ministry on the…
President Yoweri Museveni has named three new members of the Electoral Commission ahead of what is anticipated to be hotly contested 2026 general election in Uganda. The new entrants are Dr. Ssimba Ssali Kayunga, a long serving lecturer in Political Science and Public Administration at Makerere University. Dr. Kayunga’s nomination underscores a potential shift towards academic expertise in the electoral process. Others are Anthony Okello, former Kyoga County Member of Parliament, and Pamela Etonu Okudi, the current acting Head of Administration at the Electoral Commission. New entrant Dr. Ssimba Ssali Kayunga The Head of State has retained Justice Simon Mugenyi…