Creditor plan to auction buses to recover Shs 151 mn debt Kampala, Uganda | ISAAC KHISA | On the road leading to the Western gate of the Mandela National Stadium, located about 8 kilometres away from Kampala City Center on the Kampala-Jinja highway, one would easily observe that something wrong. Nearly …
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Uganda has favorable debt sustainability rating but current pressures could worsen its servicing position COMMENT | EZRA MUNYABONERA | During the past 10 years, Uganda has registered a consistent rise in the level of indebtedness. Public debt as a share of GDP has risen from 20 percent in 2006 to …
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Brazzaville, Congo | AFP | A team from the International Monetary Fund on Thursday wound up a mission to the Republic of Congo by expressing concern at debt and corruption before considering any bailout. “Congo’s economy continues to suffer from the effects of low oil prices, unsustainable debt, and significant governance …
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Washington, United States | AFP | Thousands of students who ran up unpayable debts at for-profit schools are anxiously waiting to see if US President Donald Trump’s administration does away with anti-fraud protections put in place by his predecessor Barack Obama. Some 95,000 cases of former students seeking forgiveness of …
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VIDEO: Uganda telecom woes continue as Sh 400bn fictitious debt claims Kampala, Uganda | NTV UGANDA | The debt riddled Uganda Telecom, now has to deal with a combined obligation of half a Trillion shillings shillings owed to the creditors as well pending dues from government agencies. UTL Administrator Bemanya Twebaze, …
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Washington, United States | AFP | The US Senate passed a $15.25 billion relief package Thursday for victims of Hurricane Harvey, in an effort to fully fund federal emergency operations as another potentially catastrophic storm bears down on Florida. The package passed 80 to 17 one day after President Donald Trump …
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Palma, Mozambique | AFP | The small, palm-fringed fishing town of Palma was meant to become a symbol of Mozambique’s glittering future, transformed by one of the world’s largest liquefied natural gas projects. But construction has fallen far behind schedule and the town’s fate is uncertain after gas prices fell …
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Kawempe South Member of Parliament (MP) Mubarak Munyagwa Sserunga alias “Mugaati gwa Bata” has been committed to civil prison for failure to pay sh100 million he owes one John Baptist Maali. Munyagwa was arrested on Monday and taken to cCourt by Kyalula Edward Aipha Court bailiffs. He was sent to Luzira Prison …
Read More »Nairobi, Kenya | AFP | Kenya, a pioneer in mobile money, on Thursday began selling the first ever government bonds via mobile phone, allowing anyone from teachers to shop owners to invest and fund infrastructure projects. The bond is named M-Akiba, which means “mobile savings” in Swahili, and was launched …
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Hearing of a case in which city businessman and former treasurer of NRM Entrepreneurs’ League, Arvind Patel sued the ruling party over a debt of sh5.4billion, has failed to take off today. Patel says he borrowed the money, and gave it to the NRM to cleanup the party register in …
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The Independent Uganda: You get the Truth we Pay the Price