Public Notice

Total Page:16

File Type:pdf, Size:1020Kb

Public Notice PUBLIC NOTICE PROVISIONAL LIST OF TAXPAYERS EXEMPTED FROM 6% WITHHOLDING TAX FOR JANUARY – JUNE 2016 Section 119 (5) (f) (ii) of the Income Tax Act, Cap. 340 Uganda Revenue Authority hereby notifies the public that the list of taxpayers below, having satisfactorily fulfilled the requirements for this facility; will be exempted from 6% withholding tax for the period 1st January 2016 to 30th June 2016 PROVISIONAL WITHHOLDING TAX LIST FOR THE PERIOD JANUARY - JUNE 2016 SN TIN TAXPAYER NAME 1 1000380928 3R AGRO INDUSTRIES LIMITED 2 1000049868 3-Z FOUNDATION (U) LTD 3 1000024265 ABC CAPITAL BANK LIMITED 4 1000033223 AFRICA POLYSACK INDUSTRIES LIMITED 5 1000482081 AFRICAN FIELD EPIDEMIOLOGY NETWORK LTD 6 1000134272 AFRICAN FINE COFFEES ASSOCIATION 7 1000034607 AFRICAN QUEEN LIMITED 8 1000025846 APPLIANCE WORLD LIMITED 9 1000317043 BALYA STINT HARDWARE LIMITED 10 1000025663 BANK OF AFRICA - UGANDA LTD 11 1000025701 BANK OF BARODA (U) LIMITED 12 1000028435 BANK OF UGANDA 13 1000027755 BARCLAYS BANK (U) LTD. BAYLOR COLLEGE OF MEDICINE CHILDRENS FOUNDATION 14 1000098610 UGANDA 15 1000026105 BIDCO UGANDA LIMITED 16 1000026050 BOLLORE AFRICA LOGISTICS UGANDA LIMITED 17 1000038228 BRITISH AIRWAYS 18 1000124037 BYANSI FISHERIES LTD 19 1000024548 CENTENARY RURAL DEVELOPMENT BANK LIMITED 20 1000024303 CENTURY BOTTLING CO. LTD. 21 1001017514 CHILDREN AT RISK ACTION NETWORK 22 1000691587 CHIMPANZEE SANCTUARY & WILDLIFE 23 1000028566 CITIBANK UGANDA LIMITED 24 1000026312 CITY OIL (U) LIMITED 25 1000024410 CIVICON LIMITED 26 1000023516 CIVIL AVIATION AUTHORITY 27 1000491360 CNOOC UGANDA LTD 28 1000060607 COFFEE WORLD LIMITED 29 1000458832 COMMUNITY EFFORT FOR CHILD EMPOWERMENT 30 1000036164 COMPASSION INTERNAT'L 31 1000024821 CRANE BANK LIMITED 32 1000023623 CROWN BEVERAGES LIMITED 33 1000023561 DELOITTE UGANDA LIMITED 34 1000024372 DESBRO UGANDA LIMITED 35 1000027917 DFCU BANK LIMITED 36 1000029336 DIAMOND TRUST BANK UGANDA LIMITED 37 1000159996 DISTRICT GRAND CHARITY 38 1000025197 EAST AFRICAN PACKAGING SOLUTIONS LIMITED 39 1000073352 ECOBANK UGANDA LIMITED 40 1000029695 EMIRATES 41 1000286776 ENTERPRISE UGANDA 42 1000020544 EQUITY BANK UGANDA LIMITED 43 1000025311 ERNST AND YOUNG 44 1000028825 ESCO UGANDA LIMITED 45 1000027793 ESKOM UGANDA LIMITED 46 1000024655 FINANCE TRUST BANK LIMITED 47 1000404336 FREDRICH EBERT FOUNDATION 48 1000028145 FRESH WATER FISH EXPORTERS LTD 49 1000029381 GAPCO UGANDA LTD. 50 1000026626 GENTEX ENTERPRISES LTD. 51 1000134517 GOAL RELIEF AND DEVELOPMENT ORGANISATION 52 1000024127 GOLD STAR INSURANCE CO. LIMITED 53 1000026640 GOLF COURSE GROUP LIMITED 54 1000024455 GULFSTREAM INVESTMENTS UGANDA LIMITED 55 1000028511 HIMA CEMENT LTD 56 1000025532 HOUSING FINANCE BANK LIMITED 57 1000026916 HWANG SUNG LTD 58 1000028856 IGLOO FOOD INDUSTRIES LTD 59 1000275419 INDEPENDENT DEVELOPMENT FUND LTD 60 1000029367 INDUSTRIAL SECURITY SERVICES LTD 61 1000030513 INFECTIOUS DISEASES 62 1000038998 INTERNATIONAL ENERGY TECHNIK (U) LIMITED 63 1000061408 INTERNATIONAL BIBLE STUDENTS ASSOCIATION 64 1000030900 JAMBO ROSES LTD 65 1000027848 JESA FARM DAIRY LIMITED 66 1000030565 JOINT CLINICAL RESEARCH CENTRE LIMITED 67 1000025860 KAJJANSI ROSES LTD 68 1000866974 KAMPALA CAPITAL CITY AUTHORITY 69 1000103360 KAMPALA INTERNATIONAL CHURCH 70 1000167732 KAYONZA GROWERS TEA FACTORY 71 1000025939 KENGROW INDUSTRIES LIMITED 72 1000028311 KENYA AIRWAYS LTD 73 1000200446 KIJURA TEA COMPANY LTD 74 1000077781 KINKIZI DEVELOPMENT CO. LTD 75 1000025080 KINYARA SUGAR LIMITED 76 1000112542 KIWOKO HOSPITAL 77 1000679495 KK FRESH PRODUCE EXPORTERS LTD 78 1000040427 LABOREX UGANDA LIMITED 79 1000248173 LOVE IN ACTION 80 1000379620 MABALE GROWERS TEA FACTORY LTD 81 1000024914 MANDELA AUTO SPARES LIMITED T/A CITY RETREAD 82 1000028276 MARINE & AGRO EXPORT PROCESSING LTD 83 1000989477 MEDICAL MISSIONARIES OF MARY (U) LTD 84 1000028121 MEDICAL RESEARCH COUNCIL 85 1000025739 MEERA INVESTMENTS LIMITED 86 1000086245 MISSION AVIATION FELLOWSHIP 87 1000026036 MONITOR PUBLICATIONS LIMITED 88 1000028573 MOTORCARE UGANDA LIMITED 89 1000028076 MOVIT PRODUCTS LIMITED 90 1000229394 MPANGA GROWERS TEA FACTORY 91 1000097816 MR. BABUBHAI PATEL 92 1000028535 MTN UGANDA LIMITED 93 1000021966 NAGURU TEENAGE INFORMATION AND HEALTH CENTRE 94 1000092362 NATION MEDIA GROUP LIMITED 95 1000023440 NATIONAL WATER & SEWERAGE CORPORATION 96 1000112373 NETHERLANDS DEVT ORGANIZATION 97 1000023395 NICE HOUSE OF PLASTICS LIMITED 98 1000023419 NILE BREWERIES LTD 99 1001854303 NORWEGIAN FRIENDS OF UGANDA 100 1000038587 NTAKE BAKERY & COMPANY LTD 101 1000101316 OFFICE OF THE AUDITOR GENERAL 102 1000032857 OFFICE OF THE PRESIDENT 103 1000029343 OIL PALM UGANDA LIMITED 104 1000026402 OKAPI TRADING LIMITED 105 1000023319 ORIENT BANK LTD 106 1000026985 PARLIAMENT OF UGANDA 107 1000029719 POST BANK UGANDA LIMITED 108 1001926183 PREMIER ROSES 109 1000028359 PRICE WATER HOUSE COOPERS LIMITED 110 1000027510 PRICEWATERHOUSECOOPERS 111 1000023264 PRIDE MICRO FINANCE LIMITED PROGRAM FOR ACCESSIBLE HEALTH COMMITTEE AND 112 1000217913 EDUCATION 113 1001143959 RADHA SOAMI SATSANG BEAS (UGANDA) 114 1000126305 RAISING VOICES 115 1000023326 ROKO CONSTRUCTION LIMITED 116 1000023364 ROYAL VAN ZANTEN UGANDA LTD 117 1000194823 RURAL ACTION COMMUNITY BASED ORGANIZATION 118 1000029274 SBI INTERNATIONAL HOLDINGS AG. 119 1000029436 SECURITY GROUP CASH IN TRANSIT LIMITED 120 1000026136 SECURITY GROUP UGANDA LIMITED 121 1000051211 SEND A COW UGANDA 122 1000025487 SEROMA LIMITED 123 1000026074 SEYANI BROTHERS & CO. (U) LIMITED 124 1000280017 SHREE STHANAKWASI JAIN SANGH 125 1002813564 SINOHYDRO CORPORATION LIMITED 126 1000699478 SOLIDARITY AND ASSISTANCE 127 1000033361 SOMOCHEM (UGANDA) LIMITED 128 1000327578 ST MARY’S HOSPITAL LACOR 129 1000867188 STABEX INTERNATIONAL LIMITED 130 1000024158 STANBIC BANK (U) LTD. 131 1000024189 STANDARD CHARTERED BANK UGANDA LIMITED 132 1000030520 STATE HOUSE 133 1000060842 STEEL AND TUBE INDUSTRIES LIMITED 134 1000024172 STIRLING CIVIL ENGINEERING LIMITED - UGANDA BRANCH 135 1000028542 TATA UGANDA LIMITED 136 1000024838 THE JUBILEE INSURANCE CO LTD 137 1000027144 THE NEW VISION PRINTING AND PUBLISHING CORPORATION 138 1001367677 THE RUPARELIA FOUNDATION 139 1000024790 TORORO CEMENT LTD 140 1000171284 TOTAL E & P UGANDA B. V. 141 1000024845 TOTAL UGANDA LIMITED. 142 1000028052 TOYOTA UGANDA LIMITED 143 1000024907 TRANSLINK (U) LTD 144 1000085810 TRIAS UGANDA 145 1000075637 TRONDER POWER LIMITED 146 1000024807 TROPICAL BANK LIMITED 147 1000026229 TULLOW UGANDA OPERATIONS PTY LIMITED 148 1000028428 UGANDA BATTERIES LIMITED 149 1000023775 UGANDA BREWERIES LTD 150 1000023851 UGANDA COMMUNICATIONS COMMISSION 151 1000023944 UGANDA DEVELOPMENT BANK LTD 152 1000025815 UGANDA ELECTRICITY DISTRIBUTION COMPANY LIMITED 153 1000023813 UGANDA ELECTRICITY GENERATION COMPANY LIMITED 154 1000025097 UGANDA ELECTRICITY TRANSMISSION COMPANY LIMITED 155 1000467303 UGANDA INSTITUTE OF BANKERS 156 1000132401 UGANDA NATIONAL ROADS AUTHORITY 157 1000028466 UGANDA POLICE 158 1000032871 UGANDA PRISONS SERVICE 159 1000029771 UGANDA REVENUE AUTHORITY 160 1000020613 UGAROSE FLOWERS LTD 161 1000020782 UHMG MARTYRS CRESCENT NTINDA 162 1000025760 UMEME LIMITED 163 1000023868 UNITED BANK FOR AFRICA (UGANDA) LIMITED 164 1000343502 VEKSONS (U) LIMITED 165 1000126688 VISION FOR AFRICA INTERNATIONAL LTD 166 1000026533 VIVO ENERGY UGANDA LTD 167 1001298738 VOLCANOES SAFARIS PARTNERSHIP TRUST 168 1000030251 WATOTO CHILD CARE MINISTRIES 169 1000028818 WORLD VISION INTERNATIONAL UGANDA 170 1000094878 XCLUSIVE KALANCHOE (U) LTD For further inquiries, please contact the nearest URA Service Centre or send an email to [email protected] or call us on 0800117000 (toll-free) or 0417444602/3 (not toll-free). HENRY SAKA COMMISSIONER DOMESTIC TAXES DEPARTMENT .
Recommended publications
  • Former DFCU Bank Bosses Charged Over Global Fund Scam
    4 NEW VISION, Thursday, April 3, 2014 NATIONAL NEWS Former DFCU Bank bosses charged over Global Fund scam By Edward Anyoli Lule, while employed by Lule through manipulation of 300 sub-recipients and DFCU – a company in which Former Global Global Fund foreign exchange, individuals be audited further Two former managers of DFCU the Government had shares – falsely claiming that it was and that former health minister, Bank have been charged with directed the bank to convert Fund boss Dr. commission fees for soliciting Maj. Gen. Jim Muhwezi and abuse of office, costing the $2m Global Fund money into Global Fund business. his deputies; Mike Mukula Government sh479m. the local currency at an inflated Muhebwa was last Kantuntu, Lule and Kituuma and Alex Kamugisha, be Robert Katuntu, the former foreign exchange rate of Magala (a city lawyer, who is prosecuted. managing director of DFCU sh1,839 per dollar, which was week charged with summoned to appear in court This resulted into the and Godffrey Lule, the bank’s higher than the rate of sh1,815, on April 11) are jointly facing establishment of the anti- former head of treasury, were raising a difference of sh48m. causing financial the charges with Dr. Tiberius corruption division of the yesterday charged before the On another charge, Lule Muhebwa, the former Global High Court in December Anti-Corruption Court chief is accused of fraudulently loss of sh108m Fund project co-ordinator. 2008, which has convicted magistrate. They denied the directing the bank staff to Muhebwa has been charged two suspects; Teddy Cheeye charges and were granted cash convert $1m Global Fund with causing financial loss of the presidential adviser on bail of sh3m each.
    [Show full text]
  • Elite Strategies and Contested Dominance in Kampala
    ESID Working Paper No. 146 Carrot, stick and statute: Elite strategies and contested dominance in Kampala Nansozi K. Muwanga1, Paul I. Mukwaya2 and Tom Goodfellow3 June 2020 1 Department of Political Science and Public Administration, Makerere University, Kampala, Uganda. Email correspondence: [email protected] 2 Department of Geography, Geo-informatics and Climatic Sciences, Makerere University, Kampala, Uganda. Email correspondence: [email protected]. 3 Department of Urban Studies and Planning, University of Sheffield, UK Email correspondence: [email protected] ISBN: 978-1-912593-56-9 email: [email protected] Effective States and Inclusive Development Research Centre (ESID) Global Development Institute, School of Environment, Education and Development, The University of Manchester, Oxford Road, Manchester M13 9PL, UK www.effective-states.org Carrot, stick and statute: Elite strategies and contested dominance in Kampala. Abstract Although Yoweri Museveni’s National Resistance Movement (NRM) has dominated Uganda’s political scene for over three decades, the capital Kampala refuses to submit to the NRM’s grip. As opposition activism in the city has become increasingly explosive, the ruling elite has developed a widening range of strategies to try and win urban support and constrain opposition. In this paper, we subject the NRM’s strategies over the decade 2010-2020 to close scrutiny. We explore elite strategies pursued both from the ‘top down’, through legal and administrative manoeuvres and a ramping up of violent coercion, and from the ‘bottom up’, through attempts to build support among urban youth and infiltrate organisations in the urban informal transport sector. Although this evolving suite of strategies and tactics has met with some success in specific places and times, opposition has constantly resurfaced.
    [Show full text]
  • Magazine Layout 2 LR
    SAT 12 OCT SPEKE RESORT LET’S GOAT IT On! RACE PROGRAMME #goatraceskla ENJOY RESPONSIBLY: EXCESSIVE CONSUMPTION OF ALCOHOL IS HARMFUL TO YOUR HEALTH. Don’t Choose What You Want to Do. Choose Who You want to be. Faculty of ; • Business and Management • Health Sciences • Humanities and Social Sciences • Science and Technology • Dept. of Petroleum and Energy Studies CORPORATE TRAINING AND SHORT COURSES AVAILABLE, UPSKILL YOURSELF TODAY! : TABLE OF CONTENTS Organisers Message .............................................................................................................................................1 Security information..............................................................................................................................................2 Goat Race 2018 Pictorial ................................................................................................................................. 3-4 Race 1 information ................................................................................................................................................5 Humor......................................................................................................................................................................7 Race 2 information ................................................................................................................................................9 Race 3 information ............................................................................................................................................
    [Show full text]
  • Managing Director's Statement
    Summary Financial Statements Housing Finance Bank 2020 Performance Highlights For The Year Ended 31 December 2020 Report Of The Independent Auditor On The Summary Financial Statements To The Shareholders Of Housing Finance Bank Limited I II Statement Of Financial Position As At 31 December 2020 Our Opinion The Audited Financial Statements And 2020 2019 Our Report Thereon Assets Ushs '000 Ushs '000 In our opinion, the accompanying sum- Cash and balances with the central bank 78,801,610 115,135,554 mary financial statements of Housing Fi- We expressed an unmodified audit opin- Deposits and balances due from other banks 48,823,936 56,228,534 nance Bank Limited (“ the Bank”) for the ion on the audited financial statements of Government securities at FVPL 146,919,395 1,364,818 1,108 BN 654.2 BN 551 BN 20.69 BN 250.1 BN year ended 31 December 2020 are con- the Bank for the year ended 31 December Government securities at amortised cost 212,748,084 117,349,831 Total Assets Customer Net Loans Profit After Shareholders’ sistent, in all material respects, with the 2020 in our report dated 21 April 2021. Loans and advances (net) 550,608,755 553,524,657 Deposits Tax Equity audited financial statements of the Bank That report also includes the communi- Other assets 22,568,678 23,346,460 for the year ended 31 December 2020, in cation of a key audit matter. A key audit Property and equipment 31,789,871 29,171,335 Total assets Customer Net loans and Profit After Tax Shareholders’ accordance with the Financial Institutions matter is that which in our professional Intangible assets 7,032,093 6,212,368 increased by 22% deposits advances to declined by 8% equity increased (External Auditors) Regulations, 2010 and judgement, is of most significance in our Capital work in progress 739,311 2,002,197 from Shs 912 increased by 17% customers from Shs 22.5 by 18% from Shs the Financial Institutions Act, 2004.
    [Show full text]
  • UIBFS-FINANCIAL-SERVICES-MAGAZINE-Issue-011-2021-Web.Pdf
    Financial Services Magazine Finance and Banking BANKING • COMMODITIES • INSURANCE • STOCK MARKETS • MICROFINANCE • TECHNOLOGY • REAL ESTATE AUGUST 2021 /ISSUE 011 , FREE COPY SERVICES MAGAZINE Banking on Innovative Financial Technology to Deliver a Cashless Economy FINANCE & BANKING MICRO FINANCE FINANCIAL NEWS How banks and fintechs are Digitizing financial transactions Artificial intelligence as a key leading Uganda into a cashless in Micro Finance Institutions, driver of the bank of the future. economy post COVID -19. SACCOs to promote efficiency. UGANDA KENYA RWANDA SOUTH SUDAN BURUNDI TANZANIA ISSUE 11 July - August 2021 I Financial Services Magazine Finance and Banking II ISSUE 11 July - August 2021 Financial Services Magazine Finance and Banking CONTENTS 01 How Banks & Fintechs are Leading Uganda into a Cashless Economy Post Covid 19 04 Towards a Cashless Economy in Uganda-A Regulatory Perspective 08 Digital Banking Innovations mean Uganda is On Track to Achieve a Cashless Economy 11 Financial Inclusion & Evolution of Digital Payments In Uganda 12 Artificial intelligence as a key driver of the bank of the future 16 Role of Data Driven Analytics in Business Decision Making 18 Emerging Financial Crimes and Digital Threats to Financial Sector Growth 22 Relevance of Bancassurance to The Customer Today 24 Uganda - Dealing with Cyber security Risk in The Banking and Financial Services Industry: The Need for a New Mindset 27 Housing Finance Bank: Overcoming Challenging Times Through Customer Focus and Dedication 29 Digitizing Financial
    [Show full text]
  • The Least Cost Generation Plan 2016
    THE LEAST COST GENERATION PLAN 2016 – 2025 EXECUTIVE SUMMARY In 2013, the Authority developed a 5 year Least Cost Generation Plan (LCGP) that covered the period 2013 to 2018. An update of the LCGP has been undertaken covering a 10 year period of 2016 to 2025. The update involved review of the load forecast in light of changed parameters, commissioning dates for committed projects, costs of generation plants, transmission and distribution system investment requirements. In the update of the plan, similar to the Power Sector Investment Plan, prepared by the Ministry of Energy and Mineral Development, the ”Econometric Demand” forecasting method was used at distribution level to forecast Commercial, Medium Industry and Large Industry customer category demand. A bottom up approach was used for Domestic customer category using the end-user method. A Base Case, Low Case and High Case scenario were developed for sensitivity analysis. The resultant demand forecast was 6.5%, 3.6% and 12% growth rate in energy demand for the Base Case, Low Case and High Case scenarios respectively. This growth rate is lower than the projection in the 2013 LCGP of 10%, 5% and 14% for Base Case, Low Case and High Case respectively. A number of energy supply options were considered including Hydro, Peat, Solar PV, Bagasse Cogeneration, Wind and Natural Gas. The planned supply considered already existing, committed and candidate generation plants/projects with their estimated commissioning dates aligned. We note that more than 80% of the generation will come from hydro. 1 In the demand supply balance, Figure E1 shows the demand and supply balance over the planning period.
    [Show full text]
  • Bernard Bahemuka
    Resume: Bernard Bahemuka Personal Information Application Title CHIEF CREDIT OFFICE First Name Bernard Middle Name N/A Last Name Bahemuka Email Address [email protected] Cell Nationality Uganda Gender Male Category Banking/ Finance Sub Category Private Banking Job Type Full-Time Highest Education University Total Experience 16 Year Date of Birth 27-03-1977 Work Phone +2560782366689 Home Phone N/A Date you can start 01-10-2020 Driving License Yes License No. 10143096/2/1 Searchable Yes I am Available Yes Address Address Address Hoima District City Hoima State N/A Country Uganda Institutes Institute Kampala International University City Kampala State N/A Country Uganda Address Kampala,Uganda Certificate Name Bachelors Degree in Business Administration Study Area Accounting & Management Institute Institute Of Teachers Education Kyambogo City Kampala State N/A Country Uganda Address Kampala, Uganda Certificate Name Diploma in Business Education Study Area Business Education Employers Employer Employer Encot Microfinance Limited Position Credit Manager Responsibilities Maintain and preserve Credit Operations policies , manage Credit Operations activities,Manage Credit Risk and grow the portfolio and clientele qualitatively Pay Upon Leaving 5,000,000 uganda Shillings Supervisor Chief Operating Officer From Date 01-10-2017 To Date N/A Leave Reason Carrier Growth City Kampala State N/A Country Uganda Phone N/A Address P.O.Box 389 Masindi Employer Employer Finance Trust Bank Position Branch Manager Responsibilities Over seeing general Branch
    [Show full text]
  • UGANDA MICROFINANCE INDUSTRY ASSESSMENT August 2008
    UGANDA MICROFINANCE INDUSTRY ASSESSMENT UGANDA MICROFINANCE INDUSTRY August 2008 August 2008 AMFIU House Plot 679, Wamala Rd, Najjanankumbi, Off Entebbe Rd AMFIU P. O. Box 26056 Kampala - Uganda Tel: +256 (0) 414 259176, Fax: +256 (0) 414 254420 ASSOCIATION OF MICROFINANCE JIREH GROUP Tel: +256 312 273126, INSTITUTIONS OF UGANDA Email: [email protected] : +256 712 965 315 E-mail: [email protected] Website: www.amfiu.org.ug jirehgroupinvestmentsltd UGANDA MICROFINANCE INDUSTRY ASSESSMENTUGANDA MICROFINANCE INDUSTRY ASSESSMENT UGANDA MICROFINANCE INDUSTRY ASSESSMENT AUGUST 2008 1 UGANDA MICROFINANCE INDUSTRY ASSESSMENT UGANDA MICROFINANCE INDUSTRY ASSESSMENT FOREWARD Microfinance in Uganda has taken big strides since 1996 when stakeholders formally came together and since then it has been recognized internationally for its contribution to the economic and social development of the economically active poor in Uganda. However, due to the nascent level of the industry, there is limited and scattered information on what is taking place in the microfinance industry in Uganda. This Microfinance Industry Assessment study tries to compile information on various issues on the microfinance industry and gives an over-view of the general financial sector in Uganda, development and trends in the microfinance industry and issues on regulation of the sector. It provides a wealth of information and knowledge on what microfinance in Uganda is all about, how it fits into the overall financial sector and the role of various stakeholders in the industry. As a national Network for Ugandan microfinance practitioners and stakeholders, the Association of Microfinance Institutions of Uganda (AMFIU), has been involved in all the different stages of development of the MF industry.
    [Show full text]
  • Crane Bank to Appeal to Supreme Court
    Plot 37/43 Kampala Road, P.O. Box 7120 Kampala Cable Address: UGABANK, Telex: 61069/61244 General Lines: (+256-414) 258441/6, 258061/6, 0312-392000 or 0417-302000. Fax: (+256-414) 233818 Website: www.bou.or.ug E-mail: [email protected] CRANE BANK TO APPEAL TO SUPREME COURT KAMPALA – 30 June 2020 – Bank of Uganda (BoU) wishes to inform the public of its decision to appeal the Court of Appeal’s dismissal of the case filed by Crane Bank Limited (in Receivership) vs. Sudhir Ruparelia and Meera Investments Limited to the Supreme Court. In exercise of its powers under sections 87(3), 88(1)(a)&(b) of the Financial Institutions Act, 2004, BoU placed Crane Bank Ltd (In Receivership) [“Crane Bank”] under Statutory Management on 20th October 2016. This decision was necessary upon discovering that Crane Bank had significant and increasing liquidity problems that could not be resolved without the Central Bank’s intervention given that Crane Bank had failed to obtain credit from anywhere else. An inventory by external auditors found that the assets of Crane Bank were significantly less than its liabilities. In order to protect the financial system and prevent loss to the depositors of Crane Bank, Bank of Uganda had to spend public funds to pay Crane Bank’s depositors. A subsequent forensic investigation as to why Crane Bank became insolvent found a number of wrongful and irregular activities linked to Sudhir Ruparelia and Meera Investments Ltd. These findings form the basis of the claims in the lawsuit by Crane Bank. The suit was necessary for recovery of the taxpayers’ money used to pay depositors’ funds as well as the other liabilities of Crane Bank.
    [Show full text]
  • Has the Privatization of Uganda Commercial Bank Increased Competition and Extended Outreach of Formal Banking in Uganda?” Abstract
    DEPARTMENT OF ECONOMICS Uppsala University Bachelor’s Thesis Authors: Oscar Karlsson & Erik Malmgren Supervisor: Ranjula Bali Swain Spring 2008 “Has the Privatization of Uganda Commercial Bank Increased Competition and Extended Outreach of Formal Banking in Uganda?” Abstract: Financial sector development can reduce poverty and promote economic growth by extending access to financial services in developing countries. Traditionally, banking in Sub-Saharan Africa has been conducted by state-owned banks. Although, evidence has shown that severe government involvement in the banking sector has proved to cause low profitability and inefficiency. During 2001, Uganda Commercial Bank, the dominant provider of banking experienced financial problems; as a result, the government had to privatize the bank. The aim of this thesis is therefore to investigate if the privatization prevented the banking sector from collapse and if it made the sector more competitive and outreaching. The main conclusion is that the privatization strongly prevented the banking sector from collapse. Since privatization, competition has increased sufficiently in urban areas of Uganda while rural areas have not experienced any significant increase in competition. Finally, we conclude that the outreach of banking has increased somewhat since the privatization, but it is still relatively poor. Key Words: Sub-Saharan Africa, Uganda, Financial Development, Financial Structure, Access to Finance, Banking, Bank Competition, Bank Privatization, Outreach of Banking 2 Abbreviations Mentioned
    [Show full text]
  • Stanbic Branches
    UGANDA REVENUE AUTHORITY BANK ACCOUNTS FOR TAX COLLECTIONS BANK/ BRANCH STATION ACCOUNT NUMBER STANBIC BRANCHES STANBIC KABALE Kabale DT 014 0069420401 STANBIC KIHIHI Kihihi Ishasha 014 0072016701 STANBIC KISORO Kisoro DT 014 0067695501 STANBIC KITGUM Kitgum E&C 014 0013897701 STANBIC MOYO Moyo DT 014 0094774501 STANBIC NEBBI Nebbi Main 014 0093252701 STANBIC CUSTOMS Ntungamo Mirama 014 0059793301 STANBIC PAKWACH Pakwach CUE 014 0096061101 STANBIC GULU Gulu 014 00 87598001 STANBIC APAC Apac 014 0089064501 STANBIC LIRA Lira 014 0090947601 STANBIC KIBOGA Kiboga 014 0032789101 STANBIC MUBENDE Mubende 014 0029903401 STANBIC MITYANA Mityana 014 0028053701 STANBIC KYOTERA Kyotera 014 0064697901 STANBIC MUKONO Mukono 014 0023966401 STANBIC ARUA Arua DT 014 0091518701 STANBIC JINJA Jinja LTO 014 0034474801 STANBIC TORORO Tororo DT 014 0039797301 STANBIC NAKAWA 014 0014526801 STANBIC KAMPALA City ‐Corporate 014 00 62799201 Corporate‐Corporate 014 00 62799201 Lugogo‐Corporate 01400 62799201 STANBIC SOROTI Soroti 014 0050353901 STANBIC KASESE Kasese DT, Kasese CUE 014 00788089 01 STANBIC LUWERO Luwero(Kampala North) 014 00253024 01 STANBIC MOROTO Moroto 014 00486049 01 STANBIC WANDEGEYA Kampala North DT 014 00051699 01 STANBIC BUSIA Busia DT 014 00409365 01 STANBIC F/PORTAL F/Portal 014 00770127 01 STANBIC IGANGA Iganga 014 00 363457 01 STANBIC MALABA Malaba 014 00 420444 01 STANBIC MASAKA Masaka 014 00 824562 01 STANBIC MBALE Mbale DT 014 00 444509 01 STANBIC MBARARA Mbarara 014 00 537253 01 1 BANK/ BRANCH STATION ACCOUNT NUMBER STANBIC BUSHENYI
    [Show full text]
  • Absa Bank 22
    Uganda Bankers’ Association Annual Report 2020 Promoting Partnerships Transforming Banking Uganda Bankers’ Association Annual Report 3 Content About Uganda 6 Bankers' Association UBA Structure and 9 Governance UBA Member 10 Bank CEOs 15 UBA Executive Committee 2020 16 UBA Secretariat Management Team UBA Committee 17 Representatives 2020 Content Message from the 20 UBA Chairman Message from the 40 Executive Director UBA Activities 42 2020 CSR & UBA Member 62 Bank Activities Financial Statements for the Year Ended 31 70 December 2020 5 About Uganda Bankers' Association Commercial 25 banks Development 02 Banks Tier 2 & 3 Financial 09 Institutions ganda Bankers’ Association (UBA) is a membership based organization for financial institutions licensed and supervised by Bank of Uganda. Established in 1981, UBA is currently made up of 25 commercial banks, 2 development Banks (Uganda Development Bank and East African Development Bank) and 9 Tier 2 & Tier 3 Financial Institutions (FINCA, Pride Microfinance Limited, Post Bank, Top Finance , Yako Microfinance, UGAFODE, UEFC, Brac Uganda Bank and Mercantile Credit Bank). 6 • Promote and represent the interests of the The UBA’s member banks, • Develop and maintain a code of ethics and best banking practices among its mandate membership. • Encourage & undertake high quality policy is to; development initiatives and research on the banking sector, including trends, key issues & drivers impacting on or influencing the industry and national development processes therein through partnerships in banking & finance, in collaboration with other agencies (local, regional, international including academia) and research networks to generate new and original policy insights. • Develop and deliver advocacy strategies to influence relevant stakeholders and achieve policy changes at industry and national level.
    [Show full text]