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Tag Archives: finance

Finance Ministry freezes Kabale municipal accounts

Kabale, Uganda | THE INDEPENDENT | Works at Kabale Municipal council have been on a standstill following the freezing of its bank accounts by the Finance ministry. An officer from the Municipal’s Finance department told URN on condition of anonymity that the move followed an error from the finance ministry related …

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Parliamentary Budget Committee Recommends Capitalization of UDB

  Kampala, Uganda | THE INDEPENDENT | The Parliamentary Budget Committee has recommended for the allocation of money to capitalise Uganda Development Bank-UDB. UDB is a public enterprise wholly owned by the Government. It is a Development Finance Institution that is focused on accelerating socio-economic development through sustainable financial interventions in …

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Uganda secures Sh1.2 trillion for water and sanitation projects

Kampala, Uganda | THE INDEPENDENT | Uganda has secured a 270 million Euros ( Sh1.2 trillion) loan from the French government to finance two water and sanitation projects in Greater Kampala and parts of south-western Uganda. The financing channeled through the French Development Agency (AFD), is to support access to …

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US vet cancels project to raise money for border wall

Washington, United States | AFP | An Iraq war veteran canceled his plan to crowdsource $1 billion to help President Donald Trump build a wall on the Mexico border Friday after raising only $20 million and drawing questions about his online activities. Triple-amputee veteran Brian Kolfage launched a GoFundMe account …

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Kadaga moves to waive certificate of financial implication for private bills

Kampala, Uganda | THE INDEPENDENT | The Speaker of Parliament Rebecca Kadaga plans to waive a requirement for a mandatory certificate of Financial Implication, to allow legislators present private members bills. Kadaga accuses the Ministry of Finance of using the requirement to deliberately frustrate private bills. Parliament Rules of Procedure provide …

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NOTU, Finance Ministry bicker over NSSF representation

Kampala, Uganda | THE INDEPENDENT | The National Organization of Trade Unions (NOTU) is embroiled in a conflict over its representation to the National Social Security Fund (NSSF) board. The 11th NSSF board was inaugurated by Finance Minister Matia Kasaija yesterday but without workers representatives from NOTU. The inaugurated board is …

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Financial literacy in adults gets a boost

Poor money management skills blamed for the biting poverty Kampala, Uganda | THE INDEPENDENT | Teaching financial literacy to adult populations has got a lift with the unveiling of an online platform that will make financial education more interesting. SIMU Plus has partnered with Uganda Telecom for a roll-out of …

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ICPAU names NSSF winner of top financial award

Kampala, Uganda | JULIUS BUSINGE | The National Social Security Fund (NSSF) was on Nov. 14 declared the overall winner of the 2018 financial reporting awards organised by the Institute of Certified Public Accountants of Uganda (ICPA-U) at Serena Hotel, beating several other participants. The organisers said the Fund won because …

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Uganda’s financial sector is defective- Suruma

Kampala, Uganda | THE INDEPENDENT | Former finance minister Prof Ezra Suruma has said that Uganda’s financial sector is defective and should be reformed to serve all Ugandans. Suruma said that three decades after liberalization, the banking sector has not reached the ordinary grassroots Ugandan even though the World Bank and …

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