The Axe Man Of URA: Rujoki Re-shuffles the Entire Customs Division Countrywide

By DailyNewsUG Business Correspondent Mr. John Musinguzi Rujoki, the new Commissioner General of Uganda Revenue Authority and the 6th URA boss, who took oath of office on April 2, has been a very busy man. Round 1: When Mr Rujoki took over URA in March, he came with strict instructions to clean the tax body. Sources say Mr Rujoki spent nearly two months digging up information and “dirt” about “dirty” URA commissioners and their dealings. Untouchable Commissioner Dicksons Collins Kateshumbwa and Henry Saka, Silajji Kanyesigye Baguma, plus Samuel Kahima tendered…

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Kenya Cases Hit 6,190 as 120 More Contract Coronavirus

By DailyNewsUG Health Correspondent A hundred and twenty more people have tested positive for the coronavirus in Kenya, raising the country’s total number of confirmed cases since March 13 to 6,190. The Ministry of Health announced this on Monday, saying it had tested 2,221 samples. Chief Administrative Secretary (CAS) Rashid Aman said all but five of the new patients are Kenyans and that Nairobi, the capital city, was in the lead with 67 of the cases. Mombasa County followed with 17 while Machakos recorded nine. Dr Aman also announced the recovery of…

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BANKING & COVID19 : Half of Ugandan Banks Fail Pandemic Liquidity Test

By BERNARD BUSUULWA More than half of Uganda’s commercial banks would have collapsed if the Central Bank had enforced a three-month customer loans repayments holiday at the onset of the Covid-19 pandemic, the sector regulator has revealed. A stress test conducted on Uganda’s 25 banks showed most would not have survived the cash crunch since loan interest income accounts for 60 percent of their revenue. Results of the stress test informed the decision to spread customer loan restructuring over a 12-month period instead of offering an outright repayment holiday, Bank…

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