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Patrick Kagenda

Exchange rate qualms in October

The first week of October has not been smooth sailing for the Uganda shilling.  By close of the trading week that ended Oct. 07, the local currency had run down from Shs 3,385/3,395 on Sept.30 to Shs 3,405/3,415 to the US dollar, representing a loss of Shs 20. This is …

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NSSF interest rate down to 12.3%

Unfavourable economy forces NSSF to cut interest rate for first time in six years For every Shs 1 million you have saved with the National Social Security Fund (NSSF), Shs 123,000 has already been credited to your account as interest payment. Of course this is lower than the Shs 130,000 …

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Police holds 2nd Erinayo Oryem memorial lecture

As part of celebrations of  the police week that fall every first week of October when Uganda attained her Independence, the Uganda police on Saturday Oct.1 held the 2nd Erinayo Oryema memorial lecture at Makerere University main hall with a theme “Police is the public and Public is the Police” …

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Why NSSF will pay lower interest rate

NSSF to pay lower interest rate as economy bites Last year, the National Social Security Fund (NSSF) paid its members an interest rate of 13%, which means that for every Shs 1 million saved, a member got an additional Shs 130,000 credited on the account. This year it could less, …

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Rugasira for UCCI presidency

Andrew Rugasira`s name is synonymous with the Good African Coffee brand and for being the first indigenous Ugandan to add value to the country’s coffee and have it available on the European supermarket shelves. He has talked and smelled nothing but coffee in the last two decades. But on Sept. …

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Crane Bank courts ‘strategic investor’

There were ripples in the financial services sector recently when reports emerged that Crane Bank is in negotiations with a buyer. This is the second biggest indigenous bank and the country’s fourth largest bank by assets. ‘It’s owner and founder, Sudhir Ruparelia, is arguably the region’s richest man. Why would …

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OBITUARY: The last cartoon – Balagadde (1973-2016)

 Illustrator Moses ‘Mozeh’ Balagadde dies (1973-2016)   The last cartoon that Moses Balagadde drew for The Independent magazine showed the embattled former commander of Kampala Central Police Station, ASP Aaron Baguma who is accused of complicity in a murder, contemplating his fate in the High Court. Baguma’s case has attracted attention …

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