Sportrise CEO Douglas Smith Wins Startup Community Prize 2022

Douglas Smith with finished Sportrise footballs

CEO Sportrise and Ibanda district born Douglas Smith hits the jackpot again after winning a Five Million (5) million Uganda shillings cash prize. This happened yesterday the 8th of January 2022 at Sheraton hotel where 20 shortlisted to pitch their own products. This competition was organized by the Ugandan Diaspora Community from (UK, Canada, US and more) to support startups…

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Government Encourages Farmers To Register Under The New Coffee Law

As part of the government’s revised target for the coffee roadmap of 20 million bags by 2025, the registration of farmers, nursery and seed garden operators, and cooperatives was embedded in the new coffee law. This requirement however remains controversial, but government has cautioned farmers that those who reject it, will be the ultimate losers. The law seeks to address…

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Uganda Airlines adds Nsenene to its Menu

Uganda Airlines adds Nsenene to it's Menu.

Following yesterday’s video that went viral of Uganda Airline passengers buying a Ugandan local delicacy from a fellow passenger on the flight, the National carrier has decided to add nsenene to its Menu. This was on a Ugandan airline Airbus which was heading to Dubai “We pick lessons from the incident. some of our customers enjoy nsenene. We understand they…

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Ham Vs DTB Case: Troubled DTB Admits To Committing Illegalities, Ham Slaps, Files & Awaits Judgment

Ham Vs DTB Case: Troubled DTB Admits To Committing Illegalities, Ham Slaps, Files & Awaits Judgment

Businessman Hamis Kiggundu, is awaiting judgment following Diamond Trust Bank’s admissions in court that it committed illegalities in the ongoing, DTB HAM case. Ham Enterprises (U) Limited (The company) and Diamond Trust Bank (The Bank) had a 10 Year long term Banking relationship where Ham Enterprises (U) Limited as the client made transactions on its accounts with the bank equally…

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Foreign Capital and Taxation as a Matter of National Interest

Foreign Capital and Taxation as a Matter of National Interest

There is a general presumption and saying that capital has no home but within realistic parameters, the home of capital is its place of origin because it always goes back with its profits or returns on investments. Capital holds much more value in countries like Uganda where fixed deposits have monthly interest returns of up to 15% and 25 –…

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URSB To Amend Law For Easy Identification Of Business Owners

Secrecy in company registration in Uganda could become something of the past if Uganda Registration Services Bureau (URSB) follows up it’s promise of setting up a beneficiary ownership registry in the next 6 months. The Uganda Registration Services Bureau (URSB) has sought amendment to the company law to end so that a true owner behind any registered company will be…

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Gov’t partners with private sector for marble project in Kaabong district

Uganda Development Corporation in partnership with the private sector will in the next six months start adding value to the existing huge limestone and marble deposits discovered in Loyoro – Kaabong district in Karamoja sub-region. The plan is to set up an integrated lime, cement and marble plants in Moroto district. This comes after the geological confirmation that Kaabong district…

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Mogas seized by Stanbic Bank over failure to service bank loan

Mogas seized by Stanbic Bank over failure to service bank loan

Stanbic bank has taken over petroleum products company Mogas due to failure to service her three-year-old loan. Basing on recent reports, Stanbic bank has put Maestrol Oil and Gas Solution (MOGAS) under receivership in a bid to recover it’s money that the company has failed to pay during the three year term limit that was set Despite media attempts to…

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Stanbic Bank signs partnership with Ministry of Health

Stanbic Bank signs partnership with Ministry of Health

Stanbic Bank has today signed a partnership with the Ministry of Health to offer a range of low-interest loans to health workers across the country. “We have signed a partnership with the Ministry of Health to offer a range of low-interest loans to health workers across the country. The loans range from unsecured salary loans to secured loans, mortgages, vehicle…

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