UTN News

EXIM TAKES OVER IMPERIAL BANK

Exim Bank of Tanzania has taken over majority shareholding and operations of Imperial Bank Uganda. The Tanzanian Bank has attained 58.6% of shareholding in Imperial Bank, formerly owned by Mukwano Group, after months of financial uncertainty and liquidation. Exim Bank of Tanzania is trying to establish its foot prints in

Uganda, so dominating Imperial Bank was seen as an opportunity worth the gamble.

Imperial Bank was taken over by the Central Bank a couple of Months ago, after reports of an eminent financial collapse.

Speaking at the launch, the Governor Bank of Uganda Prof Emmanuel Tumusiime Mutebile declared the uplift of Bank of Uganda controls over Imperial Bank that is coded Exim bank.

BYTE

MUTEBILE EMMANUEL, MANAGER BOU

The Chief Executive Officer for Exim bank Arora Dinesh was optimistic of a huge financial business success in Uganda.

BYTE

DINESH ARORA, CEO EXIM BANK TZ

With a total asset of 1.250 trillion Tanzania shillings, Exim bank looks forward to leveraging various sectors of the economy, including the Agricultural, Industrial and Processing Sector.

BYTE

MANEK YOGESH, DIRECTOR EXIM BANK

.

Exim bank holds 58.60% in the newly formed Exim bank Uganda limited, while 36.5% of the shares is held by Mukwano Group and 4.9% by Export Finance Limited.

News

MAJ MUHAMED KIGUNDU SHOT DEAD

Sheikh Maj Muhamed Kigundu Husband to Maama Fina has been shot dead at Masanafu, along the Northern By-pass in Lubaga Division. Maj Kigundu 52,a Muslim cleric was shot along with his Body Guard Sergeant Mukasa, bringing the number of Muslim clerics murdered in cold blood to six in a space of four years.

The duo were driving in an army pick-up truck Reg.

CDF MUHOOZI PRAISES GEN KATUMBA WAMALA

Gen David Muhoozi, the new Chief of the Defense Forces of the UPDF has praised his predecessor, Gen. Edward Katumba Wamala for his unrelenting contribution to the success of the Army.

KAVUMA STOPS PROBE INTO OIL CASH BONANZA

Kampala - Deputy Chief Justice Steven Kavuma has stopped investigations into the Controversial Oil cash Bonanza that rocked the Country last week.

The saga was unearthed by a whistle blower to the amazement of the state, prompting a wide public outcry to the President to intervene into the matter.

Justice Steven Kavuma issued an interim order immediately stopping

MINISTER CRITIQUE FATHERS FOR NEGATING RESPONSIBILITIES

BY NYAKATO DOREEN, NAMAKULA VICTO, KYOMUKAMA LYDIA, ASOMO DOREEN, KASOLE IBRAHIM.

As Ugandans prepare for the national father’s day celebration, the minister for ethics and integrity Fr.simon lokodo has critiqued fathers for negating their responsibilities which has contributed to single parenthood

HEARING OF THE ELECTION PETITION UNDER WAY AT SUPREME COURT

Kampala - Security has been beefed up at the Supreme Court in Kampala as the hearing of the Election Petition case filed by Independent Candidate John Patrick Amama Mbabazi kick off. Through his lawyers led by John Mary Mugisha and Severino Twinobusingye, Mbabazi filed the petition last week accusing NRM’s Yoweri Museveni, the Electoral Commission as well as

MOTHER SETS SON ABLAZE

Entebbe - Police in Entebbe is holding a woman for setting ablaze her son who burnt to death. Namugaanyi Ruth, burnt her son Katebere Emanuel 7yrs a pupil at Agali Awamu Primary School, Luwafu, Nkumba. Namugaanyi, a teacher at the same school reportedly set ablaze the house in which her son was this morning.

KAWOOYA RELEASED ON POLICE BOND

p>By Ntale Younus

The man who was brutally arrested on a Kampala street has been released on Police Bond.

Yusuf Kawooya, a Democratic Party activist

OMORO COMMUNITY THREATEN TO SUE DEPUTY SPEAKER OVER LAND SCAM

Tension and unrest has engulfed residents of Awali Wanglobo parish, Odek sub county Gulu district following an allegedly pending land eviction of over four hundred households from thirteen hectares of land.

According to a letter allegedly addressed to the president by deputy speaker of Parliament

BESIGYE BLASTS IPOD OVER MUSEVENI MEETING

Jailed Forum for Democratic Change strongman Col. [Rtd] Dr. Kizza Besigye has lambasted opposition politicians who met President Museveni under the auspices of the Inter Party Organization for Dialogue or IPOD.

Besigye’s rebuttal comes after it emerged that the politicians