BoU cut its central bank rate from 13% in October to 12% in December to stimulate economic activities As 2017 business starts commercial banks are optimistic that the sector will register a surge in profitability on the back of improving economy and a reduction in Non-Performing Loans. Speaking to The …

Speaker of Parliament Rebecca Kadaga has assured the people of Kibaale district that government is going to buy off  land fromabsentee landlords to give it back to the people of Bunyoro. “Am aware of the pain the people of Bunyoro are going through over land, so we are going to work fast and see that the land fund comes into place so that the people are saved from the issue of absentee land Lords,” she said at a thanksgiving ceremony for Kibaale district Woman MP Noeline Basemera. Kadaga revealed that many of the land owners do not stay in Bunyoro and have never even reached there yet they possess titles, making people of Bunyoro squatters on their land. “We have had discussions with the Minister of Finance to see how we can get the land fund and we buy off the land so that the people of Bunyoro can rest and also get security of tenure,” she said. Kadaga also advised the people to be entrepreneurs since government had approved the construction of the road going to Kibaale. “Government has approved your road, so please have something you can be able to sell instead of counting the number of cars that have passed,” she said. She added that people should also embrace government programs to enhance themselves from poverty. “There are various government programs that you can embrace, programs like operation wealth creation, youth empowerment that can help you make money so that you become well off,” she said. She further request the Minister of finance Matia Kasaija to create a tree fund to increase the trees grown in Uganda. “Every where I go I find sacks of charcoal by the road sides which means there many trees that are being cut. Therefore we need the tree fund to save our environment by growing more trees,” said Kadaga **** editor@independent.co.ug Share on: WhatsApp

The Ministry of Tourism has appointed national chess champion Phiona Mutesi and her coach Robert Katende as ambassadors of Uganda’s tourism across the world. Unveiling the two at the ministry head quarters at Rwenzori House Kampala, State Minister for Tourism, Wildlife and Antiquities Godfrey Kiwanda Ssuubi says the two helped …

Kasese Members of Parliament (MPs) have petition the International Criminal Court (ICC) to investigate the recent raid on the palace of  Rwenzururu King  Charles Wesley Mumbere that left up to 100 dead. The MPs confirmed to the press on Wednesday that they want an investigation on President Yoweri Museveni for reportedly ordering the …

Democratic Party (DP) President Nobert Mao has called for the protection of lawyers in the ongoing murder case against the Rwenzururu King Charles Wesley Mumbere and the victims of the recent clashes in Kasese. Mao made the call after one of the lawyers in the case Samuel Muyizzi, who is …

Wakiso District growers of khat, referred to locally as mairungi or Miraa, on Monday went to the Constitutional Court seeking orders de-categorizing the crop. They want it categorized as a vegetable, not a narcotic drugs. The farmers under their umbrella organization Wakiso Miraa Growers and Dealers Association Ltd want restraining orders …

The Ministers of Finance, Gender and Local Government on Thursday skipped a Parliamentary Local Government and Public Service committee session to discuss funding and modalities of the Local Council elections due January 17, 2017. Finance minister Matia Kasaija and gender minister Janat Mukwaya  sent commissioners to represent them while local …

Vincent Willem van Gogh, the Dutch post-impressionist painter, is easily among the most famous and influential figures in the history of western art. In just over a decade, he created about 2100 artworks, including around 860 oil paintings, most of them in the last two years of his life. He …

Non-performing loans more than doubles to 7.7 %, Crane Bank sinks As 2016 comes to an end, it is clear that it has been a year in which the banking industry choked on surging losses on the back of bad loans. One of the biggest banks; Crane Bank, suffered a …

A seven member committee tasked with investigating national broadcaster Uganda Broadcasting Corporation (UBC) on Tuesday released its report blaming the station and government for the body’s financial woes. The UBC Review Committee report indicates that the corporation is chronically underfunded, lacks editorial independence and its management is poorly structured. Releasing the report …