Business

Uganda Prisons Service Confirms Luzira Relocation for Five-Star Hotel Project

Summary: The Uganda Prisons Service confirms ongoing plans to relocate Luzira Maximum Prison for the construction of a five-star hotel. Discussions are at the ministerial level, involving the president, Ministry of Internal Affairs, and Attorney General. President Museveni supports the initiative, and negotiations for land in Buikwe District are underway. …

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Ugandan banks to blacklist fraud convicts

Summary: Uganda Bankers’ Association introduces measures to combat fraud, including blacklisting convicted fraudsters from financial institutions. Guidelines aim to enhance collaboration, accelerate investigations, and reinforce fraud prevention measures. The Uganda Bankers’ Association has introduced measures to combat fraud in the country’s financial sector. One key recommendation is the blacklisting of …

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Uganda orders airlines to reject uncustomed gold

Summary: Gold exporters and refiners termed the rates untenable, with both URA and the Uganda Free Zones Authority agreeing, warning they could lose business to neighbouring countries that do not impose such a levy. Uganda Revenue Authority (URA) has written to airlines operating in Uganda to reject gold shipments from …

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TotalEnergies applies for gas production license at Tilenga

Summary: TotalEnergies seeks a license to produce LPG at Tilenga in Uganda, aiming to reduce environmental impact and promote clean cooking solutions. TotalEnergies EP Uganda has expressed its intention to produce Liquefied Petroleum Gas (LPG) at the Tilenga Development Area in the Albertine Graben, Uganda. The company, a part of …

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Kenya, Toyota ink vehicle manufacturing deal

Summary: President William Ruto said the move will bolster Kenya’s industrial sector, strengthen Kenya-Japan ties and expand opportunities for Kenyans. The goal, he said, is to ensure locally manufactured vehicles are affordable and thus discourage the purchase of used cars. Kenya and Toyota Tsusho Corporation of Japan have signed a …

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Uganda remains East Africa’s top-growing financial market

Summary: According to the 2023 report Uganda scored 62.8, above Kenya at 59, Tanzania at 55, Rwanda 44 and DRC at 35. The latest Absa Africa Financial Markets Index released on Tuesday in Kampala has again ranked Uganda’s financial sector as the highest growing within the East African region. The …

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