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MPs want UWEP groups to venture into export

Kampala, Uganda | FRANK MUGABI | Women Members of Parliament have called for the elevation of Uganda Women Entrepreneurship Programme (UWEP) groups to increase production with an eye on the export market. The MPs noted that many of the women groups they have visited are engaged in sectors whose products are …

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Mutebile defends closure of commercial banks

Kampala, Uganda | THE INDEPENDENT | The Governor of Uganda’s Central Bank Emmanuel Tumusiime Mutebile has insisted that he was right to close seven commercial banks between 1993 and 2017. Mutebile made the remarks on Thursday as he gave his closing remarks on the ongoing probe by parliament’s Committee on Commission’s …

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MPs demand audit into sh478bn injected into Crane Bank

Kampala, Uganda | THE INDEPENDENT | Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has directed the Auditor General to carry out an audit into the sh478 billion injected into Crane Bank Limited by the Central Bank. The money was injected into the defunct Bank by the Central Bank …

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Tullow selling shares to Total, CNOOC again

Kampala, Uganda | THE INDEPENDENT | Tullow Oil is in the final stages of farming down its stakes in the Lake Albert Graben to its joint venture partners Total and China National Offshore Oil Company (CNOOC). Tullow, Total and CNOOC hold equal stakes of 33.3 percent in the Lake Albert Basin …

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Gov’t revises Oil volumes to six billion barrels

Kampala, Uganda | THE INDEPENDENT | The amount of crude oil so far discovered is six billion barrels, down from 6.5 billion barrels, the Uganda government has announced. Of the six billion barrels, the amount recoverable has also been put at 1.4 billion barrels, down from the initial range of between …

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