Uganda Business News | Uganda Business News 35

Uganda stagnates in bottom quarter of anti-corruption rankings

An anti-corruption billboard in rural Zambia

Uganda ranks in the bottom quarter of a global barometer of public sector corruption released Tuesday

Here’s why the ICJ’s genocide ruling won’t change Israel’s behaviour in Gaza

Palestinian flags at a pro-Palestine rally in Johannesburg, 28 October 2023

The International Court of Justice’s ruling on Israel’s behaviour in Gaza will be a hollow victory because global power politics will dilute its impact

Top UN court orders Israel to ‘prevent genocide’ in Gaza, but stops short of calling for immediate ceasefire

The courtroom at the International Court of Justice in The Hague, Netherlands. In a landmark decision, the International Court of Justice in The Hague has ordered Israel to “take all measures within its power to prevent the commission of acts of genocide” in Gaza and to allow desperately needed humanitarian aid to enter the territory. But the court’s “provisional measures” in the case brought by South Africa at the end of December stop short of ordering a ceasefire.

International Court of Justice orders Israel to take all measures in its power to prevent acts of genocide in Gaza and allow humanitarian aid in

Cecilia Atim Ogwal: a fearless politician who spoke her mind and challenged convention

The late Cecilia Atim Ogwal speaking at an FDC event in Wakiso, November 2023. One of Uganda’s longest-serving female legislators, she passed away on 18 January 2024 at the age of 77. Ms Ogwal was a trailblazer, known for her strength, charisma, and leadership in the opposition. She was a staunch defender of multipartyism, democracy, and human rights. Known for her toughness, she fearlessly stood up to male leaders in the ruling party and her own party, earning her the nickname 'iron lady' in Uganda.

Cecilia Ogwal was a trailblazer, known for her strength and charisma as an opposition leader, and a staunch defender of multipartyism, democracy, and human rights

SMEs trained to tap into oil and gas opportunities

Participants at a capacity building training programme conducted by Stanbic Business Incubator Limited for small and medium enterprises interested in bidding for contracts on the proposed East African Crude Oil Pipeline (EACOP) project.

130 small and medium business owners trained by Stanbic Business Incubator to win contracts along the proposed East African crude oil pipeline

BoU releases more information on EFC Uganda depositor payout

An EFC Uganda Ltd branch. The microfinance deposit-taking institution was closed by the Bank of Uganda on 19 January 2024 for failing to meet minimum capital requirements and for what the regulator called “poor corporate governance.”

Bank of Uganda on Tuesday released more information on how depositors of the liquidated microfinance EFC Uganda Limited can access their funds

Strong economy to boost bank lending, deposits in 2024, says BMI

BMI predicts that loan growth in 2024 will be driven by personal and household loans, borrowing from the agriculture sector, and the construction sector.

Improved economic conditions and lower lending rates are expected to increase demand for bank credit, in contrast to last year when loan growth slowed

Uganda Securities Exchange weekly trade briefing

A sign at the entrance of the Uganda Securities Exchange in Kampala

The Uganda Securities Exchange experienced a decline in trading volume in the third week of the year, although the value of shares traded by local listed companies increased

Bank of Uganda shuts down EFC Uganda, takes control

Bank of Uganda shut down the microfinance institution on Friday, citing failure to meet minimum capital requirements and ‘poor corporate governance’

Ionic Rare Earths gets Makuutu mining licence

Ruth Nankabirwa, the minister of energy and mineral development, after signing the mining licence on 17 January 2024 in Kampala. With her are Patience Singo (left), the country manager of Rwenzori Rare Metals, the owner of the Makuutu project and a subsidiary of Ionic Rare Earths Ltd, and Warren Tregurtha (second left), the chief executive of Rwenzori Rare Metals, and Vincent Kedi, commissioner licencing and administration in the ministry of energy. Ionic Rare Earths Limited said Wednesday that it has been granted a 21-year mining licence by the Ugandan government for the central tenement of its Makuutu heavy rare earths project, paving the way for a final investment decision later this year and production in 2026. The tenement covers 43.78 square kilometres of the project's 298 square kilometres.

Ionic Rare Earths Limited said that it has been granted a 21-year mining licence for the central tenement of its Makuutu heavy rare earths project