Jennifer Musisi officially hands over KCCA office


Ms Jennifer Musisi, who has served as Kampala Capital City Authority (KCCA) executive director for seven years, Friday handed over office to Kampala Minister, Ms Beti Kamya. Ms Kamya said she will run the office until a new executive director is appointed by President Yoweri Museveni. Mr Museveni is yet to approve her resignation neither has he appointed a new executive director. Ms Musisi announced her exit on October 15 and submitted her resignation letter to the President, indicating she would vacate office on December 15. “When given an opportunity…

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Cosase: GTB directors seek Shs 315bn compensation


Former directors and shareholders of the defunct Global Trust bank are seeking Shs 315.7 billion in compensation for the alleged illegal closure of their bank. They are demanding full compensation equal to the direct cash equity investments of $35.3 million with interest at the rate of 10 per cent per annum compound from July 25, 2014. They also want payment of $50 million in loss of goodwill inflicted on the directors and shareholders on account of the wrongful closure of their bank. The officials led by Bayo Folayan the former…

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“You need to learn how to employ yourselves”, President tells Kyambogo graduands


President Museveni urged Kyambogo University graduands to use the skills they have attained to employ themselves and others so as to supplement government’s employment and development efforts. In a speech read on his behalf by the Vice President, Edward Kiwanuka Sekandi, Museveni said graduates should continuously re-invent themselves to remain relevant by focusing on the needs of people. “It is your ability and skills to contribute to sustainable social, economic transformation of communities. Be patriotic, disciplined and have a positive attitude,” Museveni is quoted as saying at Kyambogo’s 15th graduation…

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Bagyenda: “I need my passport for X-mas travel”


The former Bank of Uganda, Executive Director Bank Supervision, Justine Bagyenda has written to the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) seeking access to her passport to enable her travel abroad for Christmas holidays. The Committee is currently withholding Bagyenda’s travel documents after she stalled committee proceedings when she had traveled to the U.S. Bagyenda’s action to travel out of the country without notifying the committee ahead of time was perceived as contempt to the committee and the entire Parliament. On Friday, the Committee Chairperson, Abdul Katuntu…

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Panic as Louis Kasekende transfers his properties to his driver’s names to sabotage investigations


News coming in to daily inspector shows fresh evidence of Kasekende transfering his properties to driver’s names. The news we have via a leaked document shows that Bank of Uganda (BoU) deputy governor Dr. Louis Kasekende transferred 12 plots of land into the names of his driver Moses Musitwa in an effort to dodge the scrutiny of the Inspector General of Government (IGG). The transfer forms, dated January 31st 2018, show, Kasekende subdivided land located on Busiro Block 314 into 12 plots: 6090,6091,6092,6093,6094,6095,6096,6097,6098,6099,6100 and 6101 and proceeded to transfer them…

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COSASE sets up a committee to investigate Bagyenda and Kasekende’s wealth.


Parliamentary committee on Commissions, Statutory Authorities and State Enterprises (Cosase) has decided to launch an investigation into the wealth of former director supervision at BOU Justine Bagyenda and the deputy governor Loius Kasekende. This investigation comes in after suspecting that the duo might have acquired their wealth through the controversial sale of seven commercial banks which Cosase is probing. Aruu South County legislator Odonga Otto presented documents showing 72 land titles of prime plots in Kampala and Wakiso said to be owned by Kasekende and members of his family and…

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BOU statutory manager denies knowing how Crane bank loan files ended up at DFCU


Amazing things will never end at the embattled bank of Uganda. It was revealed in a one COSASE meeting that the statutory manager who was in charge of all the loan files at Bank of Uganda never knew when DFCU came to pick up all the Crane Bank Loan files. When he was asked about how these files were transferred to DFCU, the gentleman said that he got the news on whatsapp. He saw a picture of the lorry carrying all the files from BOU to DFCU and that when…

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Sam Kutesa’s bribery report to be out in January – AG


Findings into a claim that Foreign affairs Minister, Sam Kutesa, received a $500,000 (about Shs1.9 billion) bribe from a Chinese will be ready next month, but an interim report will be ready by December 20, the Attorney General, William Byaruhanga, told Parliament yesterday. “I am going to inquire into this matter and at the end of that inquiry, this Parliament shall be made aware of the findings of that investigation,” Mr Byaruhanga said. “I expect to bring back the report as soon as we resume in January,” he added. The…

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BOU Officials grilled over Shs478b used to recapitalize Crane Bank


Parliament’s committee on Commissions Statutory Authorities and State Enterprises has learnt that Bank of Uganda spent 478 billion to sell Crane Bank, way above the 157 billion shillings it needed to return to adequate recapitalization. The committee has been probing BoU over the closure and sale of seven commercial banks. The MPs on the committee using the Auditor General’s report revealed irregularities in the sale of the banks CBL, Global Trust Bank, Greenland Bank, International Credit Bank, Cooperative Bank, National Bank of Commerce and Teefe Trust Bank. During a probe…

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Government to introduce boat ambulances


The Ministry of Health has included boat ambulances among its priorities in the next financial year 2019/2020 budget as one of the interventions to strengthen emergency care service delivery in the country, a top official has revealed. Dr John Nambohe, the ministry’s commissioner of Emergency Medical Services, said there are huge gaps in emergency response on water bodies whenever disasters hit, which leads to many preventable deaths, citing the recent boat cruise accident that claimed more than 30 lives. “We shall start with a few [boat ambulances] in the over…

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BOU SAGA: Statutory Manager Denies Writing Key Reports For The Sale Of Crane Bank

Mr. Edward Katimbo Mugwanya

The Bank of Uganda (BoU) official who was appointed the statutory manager of Crane Bank Limited (CBL) has told Parliament’s Committee on Commissions Statutory Authorities and State Enterprises (COSASE) that he did not write a handover report or evaluation report before the CBL was sold to its rival dfcu Bank by BoU at Shs200 billion in January 2017. Mr. Edward Katimbo Mugwanya, made the revelation on Tuesday as MPs asked the BoU official to come with the handover report tomorrow, evaluation report, list of depositors and other documents related to…

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URA ends year with 14% tax-to-GDP ratio


Over the last 12 months, Uganda Revenue Authority (URA), the country’s tax prefect, made more gains than losses. The gains registered have been accrued mainly from the tax body’s core mandate. The Authority closed its first quarter in September with a net revenue collection of Shs3.7 trillion – an eqiuvalent of 103.5 per cent, thanks to the Shs127 billion surplus collected in the first quarter. The surplus came from the back of nearly half a trillion shilling shortage recorded in the previous financial year. Compared to the same period last…

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Over 7000 students graduate at Kyambogo University


At least 7,000 students will graduate at Kyambogo University today with management also allowing even those who have not paid full tuition fees to graduate. The phased three-day graduation starts today at the university campus in Nakawa Division, Kampala. The vice chancellor, Prof Elly Katunguka, yesterday told journalists that unlike the previous years where tuition defaulters were not allowed to graduate, the university has this time round decided to consider only academic requirements as opposed to finance considerations. Prof Katunguka, however, said much as the fees defaulting students will be…

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BOU Probe: Price Water Coopers (PwC) summoned over Crane Bank Closure


PARLIAMENT. Price Water Coopers (PwC Uganda), a private auditing consultancy has been summoned before the Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) to explain how they arrived at the Shs239bn undercapitalization figure of defunct Crane Bank. COSASE Chairperson Abdu Katuntu (Bugweri County) on Wednesday led the MPs to probe Bank of Uganda (BoU) officials over the closure of Crane Bank- the last bank to be closed by the Central Bank in 2016. The committee zeroed on Price Water Coopers after BoU officials for the second time failed…

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IPOD: “Dialogue is the beginning of democracy” – Museveni


President Yoweri Museveni has said that democracy begins with dialogue and that anyone who calls himself or herself a democrat, should support dialogue or miss out on the opportunity to be clearly understood and influence opponents to his or her side. President Museveni made the remarks during the Inter Party Organization for Dialogue (IPOD) Summit 2018 held under the theme “Strengthening Multi-Party Governance in Uganda”, at  Munyonyo Speke Resort Hotel in Kampala. “I have always welcomed the opportunity for dialogue. To me, dialogue is a command from God. When I…

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Kampala Parents’ school candidates given farewell party

kps (4)

Kampala Parents School primary seven candidates were on Tuesday treated to an elegant glamorous  party. The luxury party that was well attended by parents and pupils was characterized by all kinds of fun, drama, eats and drinks as the ‘former’ PLE candidates toasted farewell to each other including their teachers and other school administrators and staff. Rajiv Ruparelia who happens to be the Managing Director of the school applauded the school administrators and teachers for grooming  Uganda’s future leaders (pupils). Rajiv rallied the pupils to carry on with the same discipline,…

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Harriet Anena wins 2018 Wole Soyinka Prize for Literature


From a total of 110 submissions from 11 nations in Africa, two works of poetry stood out this year. One of them is by a Ugandan – Harriet Anena. After being announced joint-winner of the 2018 Wole Soyinka Prize for Literature in Africa on Sunday, Anena was delighted at her achievement and later tweeted saying she was “super happy”. Her work of literary brilliance, A Nation in Labour, originally published in 2015, saw her share the top prize with Nigerian poet, Prof. Tanure Ojaide, for his piece Songs of Myself.…

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Government to seize property of corrupt officials – Museveni

kaguta museveni

President Museveni has said in his new plan to fight corruption, government will confiscate property of public servants who steal public resources. Mr Museveni said the new approach will reduce corruption, which he said has affected service delivery in the country. “All property belonging to corrupt officials will be confiscated. But I will first get first-hand information before confiscation of the property and I will order organisations fighting corruption to avail me with more details of stolen money,” Mr Museveni said yesterday at Kololo Independence Grounds while officiating at the…

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