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.

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MUTEBILE EMMANUEL, MANAGER BOU

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

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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.

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MANEK YOGESH, DIRECTOR EXIM BANK

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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

JANET MUSEVENI’S SUCCESSOR DIES

By UTN Reporter

Ruhaama County Willam Beijukye Zinkuratire, has passed away.

FATHER DRAGS JOURNALIST TO COURT

Kampala - A student of Kyambogo University Winfred Natongo together with a local TV Station General Manager Semei Wesaali are charged before Buganda road court with Criminal libel, in relation to a publication concerning Rev. Father Jacinto Kibuuka.

Its alleged that the two held a press conference and caused a publication

MAKERERE UNIVERSITY GOES TO GUILD POLL AGAIN

The electoral commission of Makerere University has announced that all has been set for guild elections scheduled for tomorrow. The chairperson electoral commission Isabirye Kenneth told journalists today in a press briefing from MUK Guest house that they have prepared enough to go through the election till swearing in of the

Kayihura Warns Media On Aine

Threatens Legal Action

The Inspector General of Police Gen Kale Kayihura has warned Media Houses that have repeatedly alleged that the Police picked up former head of Security at the Go Forward camp Christopher Aine. Aine was picked by security operatives in Civilian cloths, to unidentified destination. Aine was moving from a Mobile Money outlet in Kyanja, Nakawa Division, near Kampala.

EDUCATE SKILLS UGANDA THROUGH SCHOOLS

By UTN Reporter Kampala - The Civil Society has joined schools to fight the denting unemployment problem that bites hard especially among the youths in the urban centers.

HANDSHAKE INTERIM ORDER 'BURNS' SABIITI

Kampala - The controversial ‘stupid’ Interim court orders that was issued by the deputy Chief Justice Stephen Kavuma is no more following controversies which mounted pressure to the petitioner who eventually withdrew the petition.

PRAY FOR THE SUPREME COURT JUDGES-BP KAGGWA

Masaka - Masaka Catholic Diocesan Bishop John Baptist Kaggwa called on Ugandans to pray for the Chief Justice Bart Katureebe and the other eight Justices on the Supreme Court Bench as the country awaits their ruling on the Amama Mbabazi petition against President Yoweri Museveni, electoral commission and the Attorney General. While celebrating mass for Palm Sunday

IGG MULYAGONJA BLASTS MPs OVER GRAFT

The Inspector General of Government has lambasted MPs for fueling the rampant corruption in the country by shielding officials implicated in grand theft of public funds.

Irene Mulyagonja made the scathing remarks shortly after

UGANDA RAILWAY IN $8M LOSS

The Auditor General’s report into the 8 million dollar incurred by Uganda Railway Corporation following the sinking of Kabalega Ship has alarmed MPs on the Commission on Statutory Assets and State Enterprise committee of Parliament probing fraudulent sale off of none core and core assets of government under URC and financial impropriety therein.