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Tag: Ham Enterprises Ltd

Tycoon Ham,  President Museveni  Talk Business At Kisozi Farm

Tycoon Ham, President Museveni Talk Business At Kisozi Farm

FEATURED
By Keefa Nuwahereza City businessman Hamis Kiggundu popularly known as Ham, of Ham Enterprises, over the weekend met President Yoweri Kaguta Museveni at his farm in Kisozi, Gomba District, to talk business. Ham, who recently won a multibillion historical case against Diamond Trust Bank Uganda and Diamond Trust Bank Kenya, was pictured with President Museveni shortly after their meeting  taking selfies. Hamis Kiggundu takes selfies with President Yoweri Museveni as Justine Kasule Lumumba smiles Although the matters discussed between Ham and the President remain confidential, our Moles  revealed that the youthful tycoon was smiling all the time and wearing a positive face, an indication that all went well during their private discussion. Also present during Ham’s encount...
Uganda’s Central bank says that no License is Needed for Foreign Lending

Uganda’s Central bank says that no License is Needed for Foreign Lending

Business, FEATURED, NEWS
 Uganda’s central bank said on Wednesday foreign-based banks do not need its license to lend funds originating abroad, reassuring an industry jolted by a court ruling last week that declared some syndicated loans involving foreign banks illegal. The loans affected by the Commercial Court ruling represent at least $1.5 billion worth of debt, according to an industry body. The Bank of Uganda said it did not regulate lending that involved “using funds obtained from foreign banks that do not take deposits from the public in Uganda.” “Foreign banks lending deposits held in jurisdictions other than Uganda are regulated and supervised by their home authorities,” it said in a statement. “It is not mandatory for a foreign bank to establish a representative office in Uganda in order t...
High court halts Payment of sh120b to Ham Enterprises by DTB.

High court halts Payment of sh120b to Ham Enterprises by DTB.

Business, FEATURED, Latest News
The commercial division of the Hight court has halted the execution of the orders issued by the head of Commercial court justice Henry Peter Adonyo in a case involving businessman Hamis Kiggundu, Diamond Trust Bank (DTB)-Uganda and DTB-Kenya.    Principal judge, Dr Flavian Zeija issued the interim orders on Tuesday in the presence of the bank's lawyer Kiryowa Kiwanuka and Usama Sebuufu. Kiggundu’s lawyer who has since been served wasn’t present in the court. "An interim order for stay of execution of the decree in high court civil suit number 43 of 2020 and MA number 654 of 2020 doth issue pending the determination of the main application for stay of execution", reads the order in part. According to the order, the costs of the suit will be determined in the main app...
“Syndicated Loan is Illegal” declares Justice Henry Peter Adonyo

“Syndicated Loan is Illegal” declares Justice Henry Peter Adonyo

Business, FEATURED, NEWS
The Ugandan High Court on Wednesday ruled that a loan granted to a local company was illegal in a shock judgment that has banks fearing a spike in debt defaults. The case relates to a loan Diamond Trust Bank Kenya Ltd. provided to a Kampala-based firm with interests spanning real estate to agriculture, using its Ugandan subsidiary as the agent. Lenders in the East African nation were taken by surprise when Judge Henry Peter Adonyo said the transaction was illegal because the Kenyan bank didn’t have a domestic license to conduct such business in Uganda. The judgment enables the applicants, Ham Enterprises Ltd., Kiggs International Ltd. and Hamis Kiggundu, to recover more than $32 million from the bank, according to a copy of the judgment seen by Bloomberg. Diamond Trust Bank disag...
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