Tag Archives: Losses

The hospitality industry is counting losses due restrictions imposed following the outbreak of the Bundibugyo Ebola strain in the DRC.The players in the sector blame the losses on  misinformation and the ill-advised travel advisories.For Uganda, for example, most of the tourists come from the US, Canada and Europe, countries and regional which have announced a wide range of restrictions to …

Kampala — What began as a bold presidential dream to transform Uganda’s beloved matooke into a global industrial product is now under intense scrutiny after a damning audit exposed management gaps, delays, financial losses and billions lying idle at the country’s flagship banana industrialisation project. A fresh report from the Office of the Auditor General of Uganda has raised serious …

Uganda Development Corporation was created to be the State’s industrial engine, the strategic investor that would put public money into commercially viable ventures and drive Uganda’s transformation. Instead, the latest Auditor General’s report paints a troubling picture of a corporation pouring trillions into companies that are barely staying afloat. As a state enterprise, UDC is mandated “to promote and facilitate …