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Bank of Uganda denies hiding cash in Germany

BOU denies hiding cash on foreign account in Germany Kampala, Uganda | JULIUS BUSINGE |  Bank of Uganda (BOU) has dismissed as untrue reports that it has hidden Sh10.7 billion in a bank in Germany, an issue that has been widely spread on social media in the past week. In …

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Museveni, Magufuli lay foundation stone for oil pipeline

Presidents Museveni, Magufuli lay foundation stone for crude oil pipeline construction Tanga, Tanzania | PPU | President Yoweri Museveni and his Tanzania counterpart Joseph Pombe Magufuli have commissioned the construction of the 1,445km-long East African crude oil pipe line from Hoima district in Uganda to the Tanzanian port of Tanga. The …

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Neymar deal makes financial sense – PSG chief

Paris, France | AFP |  Neymar’s world record 222 million euro ($264 million) transfer fee may look expensive, but it will end up earning a great deal of money for Paris Saint-Germain, club president Nasser Al-Khelaifi insisted Saturday. Neymar, 25, is among the world’s finest players and will help the …

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US Judge commends Uganda on BUBU

Kampala, Uganda | GODFREY SSALI | A New York State Judge Frank J. LaBuda has commended Uganda for coming up with a policy on promoting local content, saying this is the way to go if Uganda is to resuscitate her economy. LaBuda was meeting Trade Minister Amelia Kyambadde at her office …

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Neymar waits as PSG make quick million on record investment

Paris, France | AFP |  Brazil superstar Neymar will watch from the stands as Paris Saint-Germain open their season Saturday, but the French club have already clawed back around a million euros on their world record investment. Neymar signed from Barcelona for a mind-boggling 222 million euros ($264 million), will …

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High loan processing fees hurting SME’s

Kampala,Uganda | THE INDEPENDENT | Small and Medium Enterprises in Uganda are restraining from accessing credit facilities due to high processing fees. This was revealed during a recent workshop organized by Enterprise Uganda in Kampala. “When you ask for a loan, they choose their own surveyors whom they pay by deducting …

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MTN to reward Mobile Money customers

Kampala,Uganda | THE INDEPENDENT | MTN Uganda has unveiled Mobile Money Month aimed at creating a platform to gather feedback from customers, resolve customer issues, carryout product education and reward customers across various touch points. The MTN Mobile Money service has been in operation for the last eight years and now …

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