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Capital Markets Authority Warns Ugandans On Ponzi Schemes Like Alliance In Motion Global

Capital Markets Authority Warns Ugandans On Ponzi Schemes Like Alliance In Motion Global

Ugandans have been warned by the Capital Markets Authority (CMA) to be wary of a surge in economic crimes. The authority said the main part of the focus is the illegal fund managers, fictitious pyramid schemes, and Ponzi schemes. The CMA’s attention focused on the Alliance In Motion Global (AIM Global), one of the numerous firms under investigation by the ...

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Centenary Bank Registers Growth In 2020 Amid Covid Crisis

Centenary Bank Registers Growth in 2020 Amid Covid Crisis

Centenary Bank registers a 26% growth in its previous financial year amid covid crisis. It attached this to the increased customer deposits and investments.According to it’s financial statements for the year ending December 31st, 2020, the total assets grew to Shs 4.49 trillion from Shs 3.57 trillion in 2019. The bank saw it self crossing the Shs 4 trillion mark ...

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Kenya’s I&M Holdings Acquires uganda’s Orient Bank

Kenya’s I&M Holdings Acquires uganda's Orient Bank

The Ugandan market has seen a new entrant today as Kenyan Banking group, I&M Holdings has acquired Orient Bank Ltd. The bank is the 12th biggest in Uganda and the acquisition sees I&M take 90% of the bank from a UK-based investment group. The previous owners of Orient Bank were 8 Miles LLP and Morka Holdings Limited, a financial company ...

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Why Documentation Is Required In Business Transactions

Why Documentation Is Required In Business Transactions

Most startups do not know the importance of books in recording business transactions. When I started my company I was in the same position, I learned how to keep records as the business was growing. There are common books that are required to record daily business transactions regardless of the type of your business, these are as follows; 1). Cost ...

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Metropole Hotel Owner Demands Tax Waiver

Metropole Hotel Owner Demands Tax Waiver

Metropole Hotel CEO Mr Nara Krish has requested government for one year tax waiver. He says would enable the hospitality sector revive businesses. He argues that the grace period will enable struggling Metropole Hotel and others to improve revenue generation and capacity to pay taxes. “Our humble appeal to government is to exempt us from paying taxes for at least ...

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