Premier Recruitment Sends More 14 Girls for Lucrative Jobs in the Middle East

premier recruitment

Premier Recruitment sent 14 more girls to Jeddah in Saudi Arabia after securing lucrative jobs for them. The external labour agency has so far helped 38 unemployed Ugandan females in the last 2 months who are bettering their lives with this opportunity. “We have visited the offices of the agencies we work with in Saudi Arabia and have strong relationships with them to ensure our candidates are placed in good households. Good luck to this latest group who are embarking on their new journey! They will save money and learn…

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AUDITOR GENERAL REJECTS DEPUTY GOVERNORS REQUEST FOR FRESH UGX. 478 CRANE BANK INQUEST

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The Auditor General Mr. John Muwanga has rejected fresh requests from Bank of Uganda to carry a fresh inquest on the UGX. 478 billion the central bank alleges to have injected in Crane Bank Ltd after the takeover turned controversial. Mr Muwanga, in an April 4 letter to deputy governor Dr. Louis Kasekende flatly rejected a request by the latter, arguing that his report was already submitted to the Speaker of Parliament. Dr. Kasekende had in a March 11 letter asked the AG to undertake verification of documents that had…

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“YOUR FINDINGS ABOUT BOU WERE WRONG”, KASEKENDE ATTACKS AUDITOR GENERAL & COSASE

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Deputy governor Louis Kasekende together with directors at the bank of Uganda organized a press conference in the absence of the the Governor and they started  challenging the outcomes of the COSASE Committee  claiming that the outcomes of the report were”totally wrong”. The question to ask is “WHY DOES HE ALWAYS COME OUT TO SPEAK TO THE PUBLIC IN THE ABSENCE OF THE GOVERNOR?” we want to find his motive. We would also want to know where he (Kasekende) was when all this mess was happening at the central bank…

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Its not over for DFCU as Kibukamusoke also quits his job.

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The problems affecting DFCU Bank are not to end very soon as many top officials within the banking institution are quitting day after day. The financial institution is currently undergoing tough times ever since fraudulently swallowing other banks that included Global Trust Bank, Crane Bank among others. All these banks were swallowed by  DFCU in a scandalous dirty transaction that involved many  Bank of Uganda Executives and other prominent people within the banking institution. News that Daily Inspector has is that Denis Kibuuka Musoke who has been with the institution…

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UIA clears Israeli investors to start marijuana farm in Uganda

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Uganda Investment Authority (UIA) cleared Together Pharma, an Israeli firm to start growing marijuana in Uganda, according to a license signed by the Acting Authority Executive Director Lawrence Byensi on March 18, 2019. UIA cleared the firm in form of an investment license. “This investment License has been issued under Section 16 of the Investment Code, 1991. The provision of the Investment Code 1991 and Guidelines and Procedures brought into effect under it shall apply,” reads the license. Sources reveal that the license allows the company to operate in Uganda…

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ROBERS RAID DFCU BANK MBARARA BRANCH.

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Police in Mbarara is investigating the circumstances under which two armed men stormed Dfcu bank in Mbarara and robbed a depositor shs 10m at gunpoint. The victim Sharif Kakooza says today afternoon he went to deposit shs 10m on his account in Dfcu bank Mbarara branch. Kakooza adds that while he was at the counter, two armed men with pistols approached him and put him on gunpoint and instructed him not to say anything but to just walk out of the bank. The two also ordered other people who were…

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BoU blames Shs484b deficit on 2008 global financial crisis

central bank

Bank of Uganda (BoU) has defended the Shs484.9b request for recapitalisation, saying it suffered the deficit as a result of the global financial crunch of 2007/2008. The global financial watershed began in 2007 with a crisis in the subprime mortgage market in the United States, and later developed into a full-blown international banking crisis. Governments around the world were forced to step up efforts to ease the strain on their economies. BoU officials have not explained the government intervention that might have eroded its assets and created the deficits in…

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Gov’t studying four more towns for city status elevation

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Government is studying four more towns for possible elevation to city status, a move that would increase the number of new cities to 13, the Minister of Local Government, Col Tom Butime, has said. The proposed municipalities are Masaka, Moroto, Soroti and Nakasongola. While appearing before the parliamentary committee on Public Service and Local Government on Friday, Col Butime said when the studies are concluded, a Cabinet paper will be prepared and presented for possible approval. Government has already proposed Gulu, Arua, Lira, Mbale, Jinja, Entebbe, Hoima, Mbarara and Fort…

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Bank of Uganda seeks Shs484b for recapitalization despite corruption scandals

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Government is putting pressure on the Members of Parliament (MPs) to approve Shs484.2 billion for the capitalisation of the Bank of Uganda (BoU) which has failed to account for Shs478 billion it claims it spent on Crane Bank Limited while under statutory management between October 20, 2016 and January 25, 2017. According to the Auditor General John Muwanga, out of Shs478 billion, Shs320 remains unaccounted for by BoU. This issue came up as MPs probed BoU on the irregular closure seven banks between the years 1993 and October 2016. The…

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COURT ORDERS DFCU BANK TO PAY SHS 1BILLION INHERITED LOAN

dfcu

A court in Kampala has ordered listed lender DFCU Bank to pay consulting firm Real Marketing Sh994,268,100 ($266,000) for breach of contract. The matter arose from a loan and its collateral from the defunct Global Trust Bank, whose assets and liabilities it inherited after the latter’s closure by the Central Bank about five years ago. DFCU also bought Crane Bank in 2017. The High Court’s Commercial Division gave the bank 30 days until April 19 from March 19, to oblige. The award arose from an initial $139,201 (Shs520,312,457) price of…

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MTN Uganda Chairman Charles Mbire in panic over money laundering

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MTN Uganda Chairman Mbire is in panic over money laundering. The evidence shows that Foreign Funds were wired via Mobile Money to Uganda a thing that triggered investigations for security purposes There were reports that the Chairman of MTN Uganda, Charles Mbire was to be quizzed by a joint team of security officials over the telecom top officials’ alleged plot to overthrow the government. Rumors had it that Mr. Mbire, was to be questioned on the alleged involvement of MTN’s top officials in the creation of special mobile money accounts…

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Shameless Dfcu officials thrown Out of COSASE over Fake Documents

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The Parliamentary committee on Commissions, Statutory Authorities and State Enterprise (COSASE) has thrown out Dfcu Bank bosses for presenting unauthentic documents regarding the purchase of defunct Crane Bank. Dfcu officials led by chairman board of directors Jimmy Mugerwa were appearing before COSASE as witnesses in the closure and purchase of Crane Bank in the ongoing Bank of Uganda probe. During the meeting, Dfcu’s Mugerwa made a defense presentation in regards to the terms of purchase of Crane bank agreement, however the presentation was backed by fake documents which were neither…

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URA procures Chinese firm for electronic invoicing

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Kampala. Uganda Revenue Authority (URA) has procured the services of Aisino Corporation to provide the Electronic Fiscal Receipting and Invoicing Solution. The solution, according to URA, seeks to mitigate tax administration shortfalls while promoting efficiency. URA, a statement said, it has been encountering a number of challenges, especially in tax administration including poor record keeping, fictitious VAT input tax invoices and incomplete disclosure of business transactions. The solution, which will be rolled out in the 2019/20 financial year, will help to mitigate such challenges. Deloitte defines Electronic Fiscal Receipting and…

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Gen Saleh tells district leaders to account for Shs28b OWC money,

Salim-Saleh

Kasese District leaders are yet to account for Shs28 billion dispersed to them under the government’s Operation Wealth Creation programme (OWC), five years later. Part of the money was used to buy 487 heifers, with 233 of them said to have died, costing the taxpayer Shs535m since each cost Shs2.3m. The chief coordinator of OWC, Gen Salim Saleh, has now tasked the leaders to account for Shs28 billion disbursed to them between 2014 and 2018 for poverty alleviation. “I want you to show me how you utilised the Shs28 billion…

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Juma Kisaame exits DFCU, leaves dfcu investors with a deficit of Shs 212 billion

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On February 1st 2019, as the dfcu Bank officials prepared to give Juma Kisaame, a stage-managed dignified farewell; dfcu shares that opened at UGX695, closed UGX5 lower, at UGX690. Stage-managed because the man who grew dfcu from a UGX222 billion asset bank in 2007 when he joined to UGX1.745 trillion in 2016 (a year before the controversial Crane Bank acquisition) – a growth of 686%, was literally shown the exit. The farewell dinner, was held at Kampala Serena Hotel and was graced by the Speaker of Parliament, Rt. Hon. Rebecca…

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COSASE Resumes Work: Shareholders of defunct banks and Amama Mbabazi Summoned

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Parliament: The parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (Cosase), which is investigating Bank of Uganda (BoU) over the controversial closure of seven commercial banks, has summoned former shareholders of all the closed banks to testify about the circumstances that led to the closure of their banks. The Committee that is still chaired by Bugweri County MP Abdu Katuntu and deputized by Anita Among will resume work next week, beginning with former shareholders of National Bank of Commerce (NBC) and Teefe Bank together with Nile River Acquisition Company…

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Bryan White Foundation Official Ground Breaking In Busunju On The Criminal Rehabilitation Center Project

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Bryan White and the Bryan White Foundation have officially started the construction of a Criminal Rehabilitation Center in Busunju. This Center will be a central point where all the youth from different part of the country are brought together, transformed and skilled into responsible citizens and then equipped with finances to set up self sustaining business ventures. It’s seated on Bryan White’s 500 acres of land and thus offers a vast space for a large center and can accommodate thousands of people at a time, making it very viable for…

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“I only took my belongings from the central bank”, Bagyenda

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Former Bank of Uganda Executive Director in charge of supervision Justine Bgyenda has finally admitted that she carried some bags and documents from Bank of Uganda (BoU) premises. Bagyenda made the admission during a hearing of the Committee on Commissions, Statutory Authority and State Enterprises (COSASE) in the parliamentary probe into closure of 7 commercial banks. She was however quick to add that the items she carried from the central bank were her personal belongings including her plates, photos, her consultancy documents among others contrary to claims that she carried…

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