Category: BUSINESS

MBARARA CITY GUN FIRE: Balya Stints’ Battle Vs Orient Bank in Balya Building TAKE OVER

DailyNewsUG

By DailyNewsUG Correspondent, Gunfire rocked Mbarara City on Sunday afternoon as employees of Barya Stint Hardware rose up in protest against the attachment of Barya Building along Akiiki Nyabongo Road by Orient bank. Led by the sons of Apollo Muhumuza Barya, the Proprietor Barya Building, the employees blocked the road with trucks and attempted to gain access to Barya Building that was sealed off by Saracen Guards on Saturday. This prompted the Saracen Guards to open fire to disperse the protesters. The windscreens of some vehicles were shuttered during the…

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Museveni Outs List of ARCADES that RISK CLOSURE in his NEXT NATIONAL ADDRESS

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By DailyNewsUG Correspondent, The overcrowding in downtown Kampala amid coronavirus outbreak pandemic is worrying ministry of Health officials.   Fifty nine (59) commercial buildings have been identified for not observing standard operating procedures for the management and control of COVID-19. The Minister in charge of Kampala and Metropolitan Affairs Betty Amongi told journalists earlier today that the city task force had inspected several commercial buildings especially arcades which were opened in July and found that several of them were not observing standard operating procedures. Many of the arcades were opened last…

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Dar-es-Salaam Promotes its PORT for Uganda’s Cheaper Cargo Rates than Mombasa

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By DailyNewsUG Correspondent The Dar es Salaam port could attract lucrative business away from the Mombasa as the Central Corridor proves to be cheaper compared with the Northern Corridor transport route. On average it costs $1.80 per kilometre per container to transport goods from the port of Dar es Salaam to Bujumbura compared with $3.10 per kilometre per container from the port of Mombasa. The recently released the Central Corridor Transport Observatory 2019 report, which measures the performance of the Central Corridor, also shows that the average costs per km…

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Parliament passes National Coffee Bill

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By DailyNewsUG Correspondent, Hon. Nandala Mafabi (FDC, Budadiri West) makes a contribution during the consideration of the National Coffee Bill, 2018 on Wednesday 5 August 2020Posted on: 06 Aug 2020 Parliament has passed the National Coffee Bill, 2018 that provides for registration of coffee farmers by the Uganda Coffee Development Authority (UCDA). The registration of farmers will entail capturing details of the size of land, number of coffee trees, particulars of a farmer, coffee buyers, sellers and nursery bed operators. The National Coffee Bill, 2018 was passed by Parliament sitting on…

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THE KILLER OF RAFIKI, Uganda’s Rare SILVERBACK Mountain Gorilla, Jailed 11 Years

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By DailyNewsUG Tourism Correspondent The killer of one of Uganda’s best known mountain gorillas, Rafiki, has been jailed for 11 years. Felix Byamukama pleaded guilty to illegally entering a protected area and killing a gorilla.On June 1, 2020, Rafiki, the rare silverback mountain gorrilla belonging to Nkuringo group was reported missing. However, after intense search and rescue efforts, his body was recovered in Hakato area inside Bwindi Impenetrable National Park. Court heard that Byamukama, a resident of Murole village, Nteko Parish, Nyabwishenya Sub County, Kisoro District was arrested on June…

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President M7 PETITIONED to Stop BoU from Squandering Tax Payers’ Money on Futile Legal Case Vs Ex-Crane Bank Owners

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By DailyNewsUG Legal Correspondent A group of youth under Uganda Poor Youth Movement have petitioned President Yoweri Museveni to deal with incompetent Bank of Uganda officials who have led to the loss of taxpayers money in a court case against former Crane Bank shareholders. The youth want the President to save taxpayers from costs brought by Central Bank staff in the case of Crane bank under receivership against Meera Investments and businessman Sudhir Ruparelia. “We are writing to inform you that, on 23rd June 2020, in the middle of the…

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PEP Shuts Down Business in Uganda

DailyNewsUG

By DailyNewsUG Business Correspondent, |DailyNewsUG| South Africa’s largest single brand discount retailer in Africa, PEP is closing down business in Uganda. By close of this year (2020), PEP stores would have closed shops in Uganda, rendering more than 80 employees jobless. One of the reasons resulting into closure of PEP operations in Uganda is the pressure occasioned by coronavirus (COVID-19) disruptions. In Summary PEP Uganda started operations in 2016 and it served as a strategic platform to enter the East African market with plans to expand and scale operations. These…

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MPs Demand Re-Opening of Boda-Boda Operations

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By DailyNewsUG News Correspondent, Hon. Joy Kabatsi, the transport state minister, has been tasked by Parliament to fast-track the opening up of boda boda operations across the country. Parliament has opposed the prolonged reluctance by the government to fully open up the motorcycle taxi business (boda boda) country wide. As part of the measures to mitigate the spread of Covid-19, government decided to limit the operations of boda boda riders to delivery of merchandise and yet they realise more earnings from transporting passengers. Legislators during the Thursday, 17 July 2020…

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Parliament Urges Gov’t to Construct Another Sugar Factory in Busoga

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By DailyNewsUG Correspondent, Legislators have called on government to expedite the construction of a sugar factory in the Busoga region to avoid a repeat of the current ban by on export of sugarcane by the Kenyan government. The call is part of the prayers in a motion on the prohibition of importation of raw sugar cane from Uganda by the government of Kenya. Luuka North County MP, Hon. John Bagoole who moved said that due to the defied bi-lateral trade agreements, farmers have suffered losses because they cannot export their…

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PAYMENT PARADIGMS: “In Africa, Our Biggest Competitor Is CASH”-Mastercard

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By DailyNewsUG Business Correspondent When cash is king, payments companies have an uphill battle… but also a huge market to address, explains Mastercard’s Raghav Prasad. A veteran of the financial industry, with stints at Citibank and The Royal Bank of Scotland (RBS), Raghav Prasad joined Mastercard in 2014. Since January 2018, he has been Division President, in charge of sub-Saharan Africa. He lays out Mastercard’s strategy on the continent, and the opportunities for financial inclusion and innovation. On 21 May, Mastercard announced its goal, in response to the Covid-19 pandemic,…

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