In a strategic move aimed at enhancing Uganda’s foreign exchange reserves, the Bank of Uganda has launched a significant initiative to purchase locally-produced gold. This decision marks a pivotal step towards stabilizing the country’s economy and strengthening its position in the global market. The announcement came directly from the Governor of the Bank of Uganda,…
Category: #Ugandan news
Airtel Uganda to Sell IPO Shares Amid High Demand.
In a move reflective of its robust market performance and investor confidence, Airtel Uganda has announced plans to sell off its remaining shares from its Initial Public Offering (IPO). The decision comes amidst overwhelming demand from both institutional and retail investors, highlighting a positive outlook for the telecom sector in Uganda. The IPO, which was…
Ugandan Officer Martyred in Somalia While Serving in Peacekeeping Mission
By ronald sserwadda Staff Writer In a tragic incident that underscores the risks faced by peacekeepers in conflict zones, a Ugandan military officer was killed by a roadside bomb in Somalia. The officer, whose name has been withheld pending family notification, was serving with the African Union Mission to Somalia (AMISOM) when the attack occurred….
Uganda Refutes Allegations of Supporting DR Congo’s M23 Rebels.
In a significant development, Uganda has vehemently denied allegations of providing support to the M23 rebels operating in the Democratic Republic of Congo (DRC). This denial comes in response to recent accusations made by officials from the DRC government. President Yoweri Museveni’s administration issued a clear statement addressing the accusations, emphasizing Uganda’s commitment to regional…
Bank of Uganda takes a decisive action on Mercantile Credit Bank.
Uganda’s central bank on Tuesday suspended the operations, Mercantile Credit Bank Limited (MCBL), one of the country’s biggest microfinance institutions, saying the bank was undercapitalised, posing a risk to customer deposits. The bank is one of five licensed microfinance credit institutions supervised by the central Bank of Uganda. The Bank of Uganda took action because…
Inside the ‘new’ Kampala train.
Five O’clock found me at the station ready for the 5.30pm train, which leaves Kampala city heading eastwards to Namanve, 16 kilometres away. The Kampala train station, established in the 1920s, hosts the offices, service centre, and waiting and boarding areas, and has worked as the main office for passenger and cargo train over…
Uganda to build a nuclear energy plant to reduce on Shortage of power supply
In April 2023, the Cabinet adopted the Energy Policy for Uganda, 2023 which envisages development of 52,481 MW generation capacity in the long term to meet the future demand. Uganda’s Ministry of Energy and Mineral Development said on Tuesday that it is working with the International Atomic Energy Agency (IAEA) in efforts to develop nuclear…
Revolutionizing Cancer Diagnostics in Africa: The Launch of Losh AI Lab Group.
In the heart of Africa, a transformative movement is underway in the healthcare sector. Losh AI Lab Group, a groundbreaking telehealth startup, is poised to revolutionize cancer diagnostics across the continent. Led by visionary CEO Makana Kennedy Ndyamuhaki, Losh AI Lab Group harnesses the power of artificial intelligence to bring accurate, affordable, and accessible cancer…
HICGI News Agency 