debt
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Africa
African economies remain upbeat despite multiple shocks, says AfDB official
KAMPALA-African economies remain resilient despite experiencing multiple shocks, with 53 out of 54 African countries seen maintaining positive growth and a stable outlook for the 2023/24 period, the African Development Bank has…
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News
Human trafficking worries Rwenzori religious leaders
KABAROLE –Religious leaders in Rwenzori Sub-region have expressed concern over the increasing cases of human trafficking in the region and the country at large. The clerics are asking the government to establish…
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News
Road construction: Contractors’ debt rises to over Shs 580bln
KAMPALA-Road works across the country are being constrained by a Shs 585 billion debt to contractors, according to the Minister of Works and Transport, Gen. Edward Katumba Wamala. Gen. Katumba was responding…
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East Africa
Kenya to have court for cooperatives
NAIROBI-Disputes in Kenya’s co-operative sector will now be handled by the Co-operative Court which will stand on its own aside from the existing Co-operative Tribunal, if the draft bill will be enacted…
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Development
Tayebwa makes case for diaspora bonds
CALIFORNIA-Ugandans living in the diaspora could soon begin trading in government treasury bonds. This is after Deputy Speaker, Thomas Tayebwa pledged to lead efforts to establish diaspora bonds. Tayebwa made the pledge…
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International
Co-op sells petrol forecourt estate to Asda for £600mln
LONDON-The Co-operative Group [“Co-op”] has agreed to sell its petrol forecourt business to Asda for an enterprise value of £600 million, its officials say. The transaction includes 129 petrol forecourt sites, spread…
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International
Africa and the Caribbean to firm cooperation via regional development banks
KAMPALA– Economic ties between Africa and the Caribbean took a strong upward turn this week as the regions’ premier financial institutions—the African Development Bank [AfDB] and the Caribbean Development Bank—came together to…
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News
Bitature accepts USD10mln loan, says negotiations with Vantage ongoing well
KAMPALA– Kampala businessman, Patrick Bitature has finally accepted that he indeed borrowed US$ 10 million from Vantage Mezzanine Fund in December 2014 and is willing to pay, as negotiations, including arbitration, as agreed…
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Cooperatives & Communities
BKCU grappling with debts ahead of next AGM
MBARARA– Preparations are in high gear as the debt-ridden Banyankole Kweterana Cooperative Union [BKCU] Limited prepares to hold its 49th Annual General Meeting [ AGM ] this Friday, over three weeks from the…
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Tobacco farmers demand for Shs.7 billion from Continental Tobacco Company
TEREGO – More than 100 tobacco farmers from Wandi, Terego district protested against Continental Tobacco Company, demanding a total of Shs.7.9 billion from the company. The money accrued since 2018 from the…
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