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Business & Finance

Disney buys 21st Century Fox $52.4bn

Disney buys 21st Century  Fox  $52.4bn

The Boards of Directors of Disney and 21st Century Fox have approved the transaction, which is subject to shareholder approval by 21st Century Fox, and Disney shareholders, clearance under the Hart-Scott-Rodino Antitrust Improvements Act, a number of other non-United States merger and other regulatory reviews, and other customary closing conditions. The deal includes Fox’s 39% […]

Museveni to meet parliamentary committee on trade and Industry over Sugar Bill

Museveni to meet parliamentary committee on trade and Industry over Sugar Bill

The parliamentary committee on trade and Industry is set to meet President Yoweri Museveni mid-this month to discuss matters regarding the Sugar Bill 2016. The committee chairperson, also Fort Portal Municipality MP, Alex Ruhunda, says that among other things to be discussed with the President on the 18th of December is to see how the […]

MPs push for mobile money regulation

MPs push for mobile money regulation

Three parliamentary committees are set to conduct a special session with bank of Uganda pushing for regulating the financial services telecommunication mobile money services. MPS concerns came from the bank of Uganda report that the telecommunication companies do not fully own the mobile money services. RELATED: Parliament takes over ownership of Chogm ground MPS noted that […]

Auditor General starts in depth audit on BOU over defunct banks

Auditor General starts in depth audit on BOU over defunct banks

The Auditor General has started carrying out an in-depth audit over the bankruptcy of defunct banks taken over bank of uganda. This came after the parliamentary committee on commissions, statutory Authorities and state enterprises told the Auditor general to interest its self in carrying out a special audit in the processes of defunct bank take […]

Zimbabwe’s economic situation very alarming – IMF

Zimbabwe’s economic situation very alarming – IMF

Zimbabwe must act quickly to dig its economy out of a hole and access international financial aid, the International Monetary Fund has warned. Government spending and foreign debt are too high and it needs structural reform, Zimbabwe mission chief Gene Leon said.The once-thriving economy is now seen as a regional basket case. “The economic situation […]

Facebook launches first community hub space in Africa

Facebook launches first community hub space in Africa

Facebook has announced its first tech space in Africa following in the footsteps of search giant Google who in July 2017 launched an ambitious initiative to train 10 million young people in online skills over five years. The new initiative is to cement Facebook commitment and investment in the country, and across the continent. The […]

BOU officials grilled over hiring external lawyers to battle court cases

BOU officials grilled over hiring external lawyers to battle court cases

The Bank of Uganda officials led by the deputy governor bank of Uganda Louis Kasekende were grilled before the parliamentary committee on commissions, statutory Authorities and state enterprises over hiring external lawyers to battle court cases which are against central bank. The committee chaired by the MP for Bugweri county Abdul Katuntu had summoned the […]

Sanlam buys off Lion Insurance Company

Sanlam buys off Lion Insurance Company

A South Africa-based financial services firm, Sanlam, which currently controls 2% of Uganda’s insurance business, has officially acquired Lion Assurance Company-Uganda. The chief Executive officer Sanlam -Uganda Gary Corbit says the deal is worth 6.5 million US dollars and is hoped will greatly increase insurance penetration which currently stands at less than 1% in Uganda. […]

Startimes connects more Ugandans digitally, announces christmas promo

Startimes connects more Ugandans digitally, announces christmas promo

With government moving slowly on having the country connected to the digital, Startimes Uganda, a digital pay TV, is moving ahead by connecting Ugandans who are in areas where government has not yet transited to the digital system. The vice president and head of marketing at Startimes, Audrine Nsubuga, revealed that using this plan they […]

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