Business Archives » Elite News

Sep152023 by Abel kawereNo Comments

Biyinzika’s Shs.40bn poultry business empire collapses over Bank Loan.

Samuel Mukasa, Uganda’s most prominent and wealthy poultry business mogul, is set to lose his multi-million dollar company properties over a bank loan. Mukasa has been running Biyinzika Enterprises Ltd for the last 31 years. The company, which runs hatcheries and sells chicks across East Africa, previously controlled about 65% of Uganda’s poultry market share before the COVID-19 pandemic. The outbreak of the pandemic saw the company lose most of its market, suppliers and employers. Details of the bank loan remain unclear. However, the lenders’ lawyers Tumusiime, Kabega & Co. Advocates have since advertised Biinzika’s properties, saying they will be auctioned by October 12, 2023. “Duly instructed by our client, the registered mortgage, a financial institution, we do hereby give notice o...

Sep132023 by Abel kawereNo Comments

Unlocking Uganda’s Financial Future: Embracing Mobile Money for Prosperity.

Business, FEATURED, NEWS

Cashless economies – where transactions are done using digital payments instead of cash – are gaining momentum across the world. This has been supported by enormous investments in digital payment infrastructure such as mobile money platforms, making it convenient for people and businesses to buy and sell products and services digitally. Indeed, Uganda has witnessed a faster growth in mobile money transfers surpassing account holders in commercial banks. Latest data from the industry regulator, Uganda Communications Commission, indicates that the total number of registered mobile money accounts stands at slightly above 37.3 million since MTN Uganda first rolled out the service more than a decade ago. In contrast, the number of bank accounts stands at a paltry 20.7 million as of June...

Sep112023 by Abel kawereNo Comments

Exciting day of sports in Bunyoro Kitara Kingdom: Bicycle races and football matches thrill fans.

Business, FEATURED, Latest News, NEWS

In a thrilling display of athleticism and community spirit, Bunyoro Kitara Kingdom (BKK) recently hosted both bicycle racing and Enganda football tournaments in Kiryandongo district. The event, organized in collaboration with MTN Uganda, brought together sports enthusiasts and clans from across the region. Bicycle Racing Heats Up the Track The day kicked off with a high-octane bicycle racing competition that had fans on the edge of their seats. The racers, both men and women, battled it out for glory and cash prizes. Mr. Brian Young emerged victorious in the men's category, taking home an impressive prize of shs500,000. Right on his heels was Mr. Rogers Alinaitwe, securing the second position with shs400,000. The third, fourth, and fifth place finishers received shs300,000, shs200,000, and...

Aug172023 by Abel kawereNo Comments

MTN MoMo Unveils the Third Edition of the MoMo API Group Hackathon: Shaping the Future of Digital Finance and Innovation.

Business, FEATURED, Latest News, NEWS

Kampala, Uganda. - MTN MoMo has announced the launch of the third edition of the MoMo API Group Hackathon, an innovative platform designed to bring together visionary web developers and entrepreneurs from across Africa. This exciting event aims to harness the power of technology and creativity to accelerate financial inclusion and drive the digitization of payments on the continent. With the theme "Innovative Financial and Transactional Applications," the MoMo API Group Hackathon invites developers and entrepreneurs to create groundbreaking mobile applications that leverage MTN Mobile Money APIs. These applications will utilize the new capabilities of V2.1 (Notification, KYC, Auth.) and V2.2 (Channel as a Service) to cover use cases beyond payments, thereby fostering a comprehensive and in...

Aug72023 by Abel kawereNo Comments

Mwenge South and Kyaka County Secure Spots in Tooro Kingdom MTN Masaza Cup Finals.

Business, FEATURED, GOSSIP, Latest News, NEWS, Politics

In a riveting display of skill and determination, Mwenge South County and Kyaka County have emerged triumphant in the semi-final stage of the Tooro Kingdom MTN Masaza Cup, earning their places in the highly anticipated championship showdown. Mwenge South Clinches Victory: Mwenge South County, hailing from Kyenjojo district, showcased their prowess on Sunday, securing their place in the finals with a resounding 2-0 victory over Mwenge North at Katoosa playground. The action-packed encounter saw Wafula Solomon strike gold in the 44th minute of the first half, setting the tone for their dominance. Eric Mirembe sealed the deal with a winning goal in the second half, solidifying Mwenge South's triumph. The aggregate score of 3-1 over the two-leg tie earned Mwenge South the well-deserved ticket ...

Aug72023 by Abel kawereNo Comments

50- Year -old man commits suicide at Jinja Hospital.

Business, Education, FEATURED, GOSSIP, Health, Latest News, NEWS, Rwanda

A 50-year-old man is suspected to have taken his own life within the premises of Jinja Regional Referral Hospital. The lifeless body of Micheal Mukulu, a resident of Rubaga-Mpumudde in Jinja North City Division, was discovered last Friday hanging on a rope in one of the hospital’s sanitary facilities. According to David Ssemakula, an administrator at the hospital, the deceased was battling a ‘chronic condition’ and had been receiving medical care in Ward Four of the hospital. He, however, questioned how the deceased managed to carry out the act within the hospital premises. “It appears he committed suicide by hanging himself with a rope for reasons that are currently unknown to all of us,” Ssemakula said. He explained that the hospital promptly informed the local police, who arrived at the...

Aug72023 by Abel kawereNo Comments

UNBS boss Ebiru fired.

Business, Education, FEATURED, GOSSIP, Latest News, NEWS

The Minister of Trade and Industry, Francis Mwebesa has dismissed with immediate effect, embattled Uganda National Bureau of Standards(UNBS) Executive Director, David Livingstone Ebiru. “The purpose of this letter, therefore, is to inform you that I hereby dism you from the position of Executive Director of UNBS with immediate effect; in accordance with Section 11(2), (5) (b) and (c) of the UNB Amendment Act 2013,” Minister Mwebesa said in a September, 4, 2023 letter to Ebiru. Ebiru recently appeared before Parliament’s Committee on Public Accounts – Commissions, Statutory Authorities and State Enterprises (COSASE) where he admitted paying a shs100 million bribe in a desperate attempt to prevent the termination of his contract. “I confess that I bribed the board to secure my position. The ...

Aug72023 by Abel kawereNo Comments

Over 64000 students to sit for UBTEB exams.

Business, Education, FEATURED, GOSSIP, Latest News, NEWS

A total of 64,387 candidates will starting today, Monday commence their Uganda Business and Technical Examinations Board (UBTEB) exams. Speaking to journalists over the weekend, Onesmus Oyesigye, the UBTEB Executive Secretary said of the 64,387 candidates, 19,298 are females and 45,089 males whose exams will run until August 24 at 517 examination centres. Technical programs (UCPC, Certificate and Diploma) have the highest number of candidates at 60,280 whereas business programs will have 3146 candidates, departmental programs, 778 and modularized certificates will have 183 candidates sit for the UBTEB exams. Business programs will do their exams up to August, 11 whereas the, Uganda Community Polytechnic Certificate and National Certificate-Technical (Modular assessment) exams will run up t...

Aug32023 by Abel kawereNo Comments

MTN Uganda demonstrates the power of its 5G network at UCC offices.

Business, FEATURED, Latest News, NEWS

MTN Uganda hosted an immersive 5G experience event at the Uganda Communications Commission headquarters at the UCC House on Spring Road, Bugolobi Kampala following the successful rollout of its nationwide 5G network last week. Tech enthusiasts, government officials, and media representatives gathered at the UCC offices, eager to witness the dawn of a new era in telecommunications. The main attraction was the 5G experience center which offered an immersive journey into the future. The center included live demonstrations where visitors experienced the astonishing speed and reduced latency of 5G technology. Visitors also had the opportunity to check out Virtual Reality (VR) experiences using the power of this next-generation technology. Attendees also interacted with a range of 5G-enabled dev...

Jul312023 by Abel kawereNo Comments

MTN Uganda goes live with 5G network services in Uganda, Ushering in a New Era of Connectivity.

Business, FEATURED, Latest News, NEWS

MTN Uganda’s journey towards delivering Uganda’s best network experience marked a significant milestone today with the lighting up of its next generation 5G network which is delivering higher peak data speeds, ultra-low latency, increased reliability and greater network capacity. MTN Uganda is set to revolutionize the digital landscape and redefine the way Ugandans experience connectivity with deployment of 5G sites across all the cities in Uganda with the roll out having started with sites in Kampala at Lugogo and Bugolobi areas, enabling MTN customers in the area the ability to access 5G. This significant advancement is poised to impact every aspect of daily life, from transforming industries to enriching entertainment, and catalyzing innovative breakthroughs that will shape the future. ...