Premier Recruitment Sends Housemaids To South Arabia


Forty five females have this week left the country to start working in South Arabia city of Jeddah courtesy of labour recruiting agency, Premier Recruitment, a subsidiary of Ruparelia Group. “This is our first departure and is the first of many, many more to come. We are very proud of this moment and wish all 8 ladies the best of luck in this new chapter of their lives,” Premier Recruitment said in a statement. In November last year, Rajiv Ruparelia, managing director of Ruparelia Group, announced that Premier Recruitment had entered into the labor export industry…

Read More

Proposed Development Bill to regulate Industrial sector


By Kitts D.Mabonga The government is determined to ensure that the industrial sector regulatory framework is strengthened to help bring about effective competition among the players. The ministry of trade industry and cooperatives has undertaken the challenge of enacting the necessary policy legislation to effectively promote the industrial sector in the country. The state minister for Cooperatives GumeNgobi Frederick told xpresstimes recently that they have developed various legislations for strengthening the regulatory framework and promotion of the industrial sector and key among them is the industrial development bill. Gume observed…

Read More

Justice Musa Ssekaana dismisses mobile money tax case


By Nicholas Shawn Mugarura. High court in Kampala has dismissed a case in which two mobile money users sued URA for taxing their mobile money deposits. Following the government’s move that scrapped off taxes on depositing money on mobile money accounts. Two concerned Ugandans, Anthony Odur and John Robert Turyakira sued Telecom companies and the tax body demanding for a refund. Last week, Justice Musa Ssekaana ruled that it was wrong for applicants to file the matter because mobile money deposits were never taxed after government made a change of…

Read More

DFCU Reveals That Crane Bank Was Offered To Phone By Bagyenda


Former managing director and Chief Executive Officer of the dfcu Bank, Mr Juma Kisaame, takes oath  before the Parliament’s Committee  We were contacted by Bank of Uganda and advised that they were considering resolution of Crane Bank Limited, the former managing director DFCU Bank, Juma Kisaame, told legislators on the parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE). He then said that the invite for DFCU to come and buy Crane bank was done on phone. The phone call was made by Justine Bagyenda, the former Bank of…

Read More

Minister Kasaija Regrets BOU Action To Sell Crane Bank


By Kitts D.Mabonga As the country continues to reflect on the shocking actions the Central bank undertook while  shutting down commercial banks that were not performing to expectations,a senior line minister has also poured cold water on that very transaction. While appearing before  the house committee probing the bank of Uganda sale of seven  commercial banks today, the minister of finance planning  and economic development Martia Kasaija has regretted as to why that incident happened. Kasaija told the COCASE committee chaired by Abdu Katuntu that he was disappointed that the…

Read More

CBL Board Chairman Narrates how BoU Mercilessly closed their Bank


The board chairman of the now defunct Crane Bank Limited (CBL) Joseph Biribwona shocked parliament when he narrated the bitter experience they went through as Bank of Uganda iron Lady  Justine Bagyenda,the former executive director supervision tormented them. Biribwona who was accompanied by a powerful delegation from their former bank were on Wednesday appearing before the parliament committee investigating Bank of Uganda over the sale of seven banks in a manner that has left the country in total shock. He told the members that Bank of Uganda merely had intentions…

Read More

Sudhir Demands For Independent Audit, Accountability Of Crane Bank Sale

su 1

The former owners of defunct Crane Bank Limited (CBL) have demanded for an independent audit their bank and Bank of Uganda to account for Shs478 billion spent as liquidity support before controversially selling it at Shs200 billion to its rival Dfcu Bank on January 25, 2017. They said BoU has failed to present documented evidence on where the money came from, how it was used and on which account it was deposited. According to BoU, the said money was used as liquidity support to CBL as well as other costs…

Read More

DFCU Bank officials kicked out of COSASE for presenting fake Documents


The Parliamentary committee on Commissions, Statutory Authorities and State Enterprise (COSASE) has thrown out Dfcu Bank bosses for presenting unauthentic documents regarding the purchase of defunct Crane Bank. Dfcu officials led by chairman board of directors Jimmy Mugerwa were appearing before COSASE as witnesses in the closure and purchase of Crane Bank in the ongoing Bank of Uganda probe. During the meeting, Dfcu’s Mugerwa made a defense presentation in regards to the terms of purchase of Crane bank agreement, however the presentation was backed by fake documents which were neither…

Read More

Slaughter house chief decries High taxes, Appeals for govt grants


managing director of Nsooba slaughter house Capt.Denis Aubery Saazi By Kitts D.Mabonga Ugandans dealing in animals slaughter houses and Abattoirs  in the country are demanding that it was high time the government considered offering them grants or exclusive tax waivers to enable them remain in the sector business as opposed to offering such facilities to only foreigners.      The meat products inside the slaughter house The cries were recently made by the managing director of Nsooba slaughter house Capt.Denis Aubery Saazi during an exclusive interview with xpress times at…

Read More

Juma Kisaame Leaves DFCU Bank Poorer, With Spoilt Relations, Unhappy Investors


There was a time when Juma Kisaame as the Managing Director at DFCU Bank was a gem of Uganda’s banking sector but some unfortunate decisions between 2016 and 2018 have tainted his reputation and bows out unpopular. While everything was going well for Kisaame at DFCU, the unscrupulous decision to buy Crane Bank from Bank of Uganda, according to experts, was the beginning of problems for Kissame. Reports of him colluding with Justine Bagyenda to enforce the sale came live during a parliamentary inquiry. But non the less, Kisaame was…

Read More