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One Million Sim-Cards Fail Verification Test, to be Switched Off

Just a week to the deadline for the simcard verification, the Uganda Communications Commission (UCC) has released an update of simcards that have so far been successfully verified. According to the update, details of 17 million simcards were sent for verification, 15 million have undergone verification while the details submitted for

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Stanbic Bank to Pay Shs 60Bn in Dividends to Shareholders

Stanbic Bank shareholders have approved a Ush 60 billion shilling payout as dividends, represents a 50% increment from the UShs 40 billion paid in 2015. The dividend which was passed unanimously by all shareholders is equivalent to UShs 1.17 dividend per share up from UShs 0.78 the previous year. This was

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Sugar, Sweets Should Become a Luxury – Health Minister

Uganda’s health ministry has rejected a proposal by the finance ministry to cut taxes on sugar confectioneries and non-alcoholic drinks. Minister of state for Planning, David Bahati, had hoped that cutting the 20 per cent excise duty on chewing gum, sweets and confectionaries would reduce the increasing sugar prices. But Health minister

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British American Tobacco Uganda to Pay Ushs 7.8 Billion to Shareholders

Shareholders of British American Tobacco Uganda (BAT Uganda) are set to earn a total of Ushs 7.8 billion as dividends for the year ended 31st December 2016. Following the 2016 financial performance, the Board of Directors recommended a final dividend of Ushs 159 per share which was approved by the

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UMEME BULB SCANDAL: Shs 10bn Lost as Free Energy-Saving Bulbs End Up in Shops

A corruption scandal is unfolding after it emerged that free energy-saving bulbs were now being sold in Kampala shops and others vended on the streets. The 10bn project was a recommendation aimed at reducing power wastage. Consequently, Umeme was supposed to buy over 700,000 energy-saving bulbs. That would put the cost

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Bbumba: I Signed Shs 568bn Tullow Tax Waiver without Reading Agreement

Former Energy Minister Syda Bbumba signed a Production Sharing Agreement (PSA) that gave oil company Tullow a tax waiver amounting to $157m (about Shs 568bn), Parliament’s Committee on Commissions, State Enterprise and Statutory Authority (Cosase) has learnt, with shock. Currently probing the Shs 6bn handshake and the oil sector woes, Cosase

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Bamugemereire Commission Begins Land Probe

A commission of inquiry appointed by Ugandan president Yoweri Museveni to probe investigate the emotive land question has started its work. The commission’s first day proceedings were held at the National Records and Archives Centre, Lourdel Road, in Kampala. The commission is led by Justice Catherine Bamugemereire who has previously led probes

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PHOTOS: Anne Kansiime Set to Open Beautiful Tourist Lodge in Kabale

Although she is one of Africa's most sought after stand-up comedians, Anne Kansiime is already planning for retirement. The popular Ugandan has set up a beatiful tourist lodge, which she has named 'Kansiime Back Packers'. The lodge which has over 15 rooms is located in Kabale at Lake Bunyonyi, about 20km from

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Siemens Signs Agreements With Uganda, Sudan

Siemens will work more closely with the African countries Uganda and Sudan in the areas of power supply, industry, transportation and healthcare. The African states signed the corresponding Memoranda of Understanding (MoU) at the World Economic Forum 2017 in the South African city of Durban. The documents were signed in the presence

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COST OF UGANDA’S DEBT: Each Ugandan Owes Shs 1.3m

Uganda’s debt stock has steadily increased in the past four financial years, and so has the burden on the tax payers, a review of data from the finance ministry, the central bank and the 2015-16 auditor general’s report has revealed. As of June 2016, Bank of Uganda (BOU) state of the

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