Stanbic Bank
Stanbic Bank
24.3 C
Kampala
Stanbic Bank
Stanbic Bank
Home Blog Page 131

Security forces identify Munyonyo suicide bomber as daughter of 2021 Kampala CPS attacker

Col. Chris Magezi, Acting Director of Defence Public Information.

Security forces have released a photograph of a female suicide bomber killed in an attempted attack targeting pilgrims in Munyonyo, revealing she is the daughter of a bomber involved in the November 2021 Kampala Central Police Station attack.

The woman was intercepted and killed while attempting to access Munyonyo Basilica, a key pilgrimage site for Uganda Martyrs Day. Intelligence officials said she was wearing a suicide vest, which exploded when she was shot by Uganda People’s Defence Forces (UPDF) counter-terrorism operatives.

The foiled attack, an intelligence-led operation, also resulted in the neutralization of a second male suspect. The suspects reportedly arrived at the scene on a motorcycle, which was destroyed in the blast. Human remains were recovered, and the area remains under heavy security as forensic investigations continue.

The November 2021 attacks in Kampala, claimed by the Allied Democratic Forces (ADF), a terrorist group affiliated with the Islamic State (ISIS), included a suicide bombing at the entrance of the Kampala Central Police Station and another near Parliament Avenue. Those attacks were among the deadliest terror incidents in Uganda in recent years.

Col. Chris Magezi, Acting Director of Defence Public Information, stated earlier Tuesday, “A UPDF counter-terrorism unit this morning intercepted and neutralized two armed terrorists in Munyonyo, an upscale city suburb. It was an intelligence-led operation, and the security services are on heightened alert to ensure the Martyrs Day celebrations proceed without disruption.”

The attempted attack comes as Uganda prepares for its annual Uganda Martyrs Day celebrations, commemorating the execution of 45 Christian converts between 1885 and 1887. The event attracts millions of pilgrims annually.

Stories Continues after ad

Speaker Among opponents fake her voice in a desperate move to grab attention from NRM voters

Anita Among, Speaker of the 12th Parliament.

Parliament has dismissed as fake a viral audio clip circulating on social media allegedly featuring Speaker of Parliament Anita Among making controversial remarks about President Yoweri Museveni and Uganda’s past conflicts.

In a statement released on X (formerly Twitter), the Parliament of Uganda declared that the recording was doctored and malicious, warning the public against falling for the false content.

“We have been made aware of an audio clip circulating on social media, attributed to the Rt Hon. Speaker Anitah Among. The clip is fake and unfounded. We urge the public to disregard this fake content aimed to spread hate and misinformation,” the statement read.

The audio, which has rapidly gained traction online, appears to address sensitive historical issues involving the Teso and Karamoja sub-regions. It includes a voice said to be Among’s speaking about violence, displacement and strained regional ties, remarks that Parliament says are completely fabricated.

Anita Among revealed, “That is not my voice,” and dismissed the audio as part of a smear campaign.

The clip surfaced just days  before the Speaker picked her nomination forms to contest again under the ruling National Resistance Movement (NRM), suggesting the timing may be politically motivated.

Dr. Lawrence Muganga, Vice Chancellor of Victoria University and a vocal advocate for ethical AI use, also weighed in, strongly condemning the clip.

“The audio is fabricated. Please disregard it in its entirety,” Dr. Muganga stated.

“Ladies and gentlemen, the circulating audio clearly demonstrates how Artificial Intelligence (AI) can be misused by individuals with bad intentions to deceive, manipulate, and spread falsehoods.”

Dr. Muganga added that he had used AI detection tools to verify the authenticity of the recording.

“All results confirm that the audio is fake. It appears that malicious actors have trained AI systems to imitate the voice of the Rt. Hon. Speaker @AnitahAmong and have used it to create false and hateful content. This is not just a misuse of technology; it is a deliberate act of character assassination.”

Calling on policymakers to act, he emphasized the need for regulations that balance innovation with safety.

“Artificial Intelligence should be a tool for good. It should help, support, and bring positive change, not be used to divide people or spread lies. To the Rt. Hon. Speaker of Parliament, please stay strong. Many of us stand with you and strongly condemn this attack.”

As Uganda draws closer to the 2026 elections, authorities have repeatedly warned the public about the increasing use of manipulated digital content to mislead voters and undermine public trust in national institutions.

Stories Continues after ad

Speaker Among, Tayebwa pick NRM nomination forms ahead of 2026 elections

Speaker Anita Among at the National Resistance Movement party headquarters after picking nomination forms.

Speaker of Parliament Anita Among and her deputy, Thomas Tayebwa have picked nomination forms from the National Resistance Movement (NRM) Electoral Commission, signaling their intention to seek re-election under the ruling party in the upcoming 2026 general elections.

Speaking after receiving her forms at the NRM headquarters in Kyadondo, Speaker Among praised the party for upholding democratic values and running a transparent nomination process.

Anita Among is contesting for the Bukedea Woman Member of Parliament under the NRM ticket.

“NRM has been and will always be a democratic party,” she said, adding that the consistency and openness of the process reflect the party’s long-standing commitment to fairness.

Asked whether she would consider running as an independent should she lose in the primaries, Among firmly dismissed the idea.

“I am a tested leader. I cannot fail to go through the party primaries,” she said confidently, reinforcing her belief in her popularity and performance within the party structures.

Deputy Speaker Thomas Tayebwa also picked his nomination forms to contest for Ruhinda North Constituency, a seat he currently holds. In a statement issued shortly after, Tayebwa emphasized servant leadership rooted in grassroots connection.

Stories Continues after ad

Parliament set to receive state of the nation address on Thursday, 5

President Museveni arriving at the previous State of the Nation address.

The Parliament of Uganda will reconvene on Thursday, June 5, 2025, at the Kololo Ceremonial Grounds to receive the State of the Nation Address from His Excellency the President of Uganda, Yoweri Kaguta Museveni, according to a formal notice issued by the Clerk to Parliament.

In an official communication dated June 2, 2025, Clerk to Parliament Adolf Mwesige Kasaija informed all Members of Parliament (MPs) that the sitting was scheduled following the prorogation of the House by the Speaker.

The prorogation took place during the 35th sitting of the 3rd Meeting of the 4th Session of the 11th Parliament, held on May 29, 2025.

“This is, therefore, to inform you that the House will sit on Thursday, 5th June 2025 at 2:00pm at Kololo Ceremonial Grounds, to receive the State of the Nation Address by His Excellency the President,” reads part of the notice signed by Kasaija.

As per the arrangement, transportation will be provided for MPs to ease movement to the ceremonial venue.

“Buses will be available at the Ground Floor Parking, South Wing to take Members of Parliament starting at 10:00 a.m.,” the communication adds.

With election preparations already underway,Museveni is set to reassure Ugandans of a peaceful and transparent process. He will emphasize the role of security agencies in maintaining order and call for calm and tolerance among political players. The Electoral Commission’s readiness and the government’s support for free and fair elections are expected to be central themes.

On the economic front, Museveni is expected to highlight government efforts to boost recovery and create jobs. Key among these is the Parish Development Model (PDM), which channels resources to the grassroots to lift households out of subsistence farming. He may present PDM as the cornerstone of his administration’s plan to reduce poverty and improve rural incomes. Updates on Emyooga, oil sector progress, and investment drives are also expected.

The President is also likely to speak on the fight against corruption, a growing concern among Ugandans. He will reiterate his administration’s position on zero tolerance for graft and warn officials against abuse of public resources. Whether new enforcement measures will be announced remains to be seen.

Security will be another key area, with Museveni expected to address threats from armed groups like the ADF and reaffirm the government’s role in maintaining peace, both domestically and in the region. Issues such as cattle rustling and crime prevention may also be discussed.

Service delivery, particularly in infrastructure, health, and education, will likely feature. The President is expected to highlight completed projects and outline plans to expand access in underserved areas.

Museveni is also set to urge the youths to engage in government programs and avoid being misled by political actors. With unemployment still high, he will also promise more skills, sports and digital economy opportunities.

The State of the Nation Address is a constitutional obligation and a significant occasion that provides the President with an opportunity to present the government’s achievements, challenges, and policy direction for the upcoming legislative year.

Stories Continues after ad

Bill Gates to direct majority of $200b pledge toward Africa’s future commits to partnering with governments that put people’s health and wellbeing first

Bill Gates, the billionaire founder and former CEO of Microsoft, stood in the heart of a vast wheat field in Dugda Woreda, East Shewa Zone, Oromia region. Beside him, Ethiopia’s Prime Minister, Abiy Ahmed.

ADDIS ABABA (June 2, 2025) – In an address today in Nelson Mandela Hall at the African Union, Gates Foundation Chair Bill Gates urged African leaders to seize the moment to accelerate progress in health and development through innovation and partnership, despite current headwinds. He announced that the majority of his $200 billion spend over the next 20 years will go to Africa with a focus on partnering with governments that prioritize the health and wellbeing of their people.

“I recently made a commitment that my wealth will be given away over the next 20 years. The majority of that funding will be spent on helping you address challenges here in Africa.”

Addressing over 12,000 government officials, diplomats, health workers, development partners, and youth leaders in person and online, he underscored the critical role of African leadership and ingenuity in driving the continent’s health and economic future.

“By unleashing human potential through health and education, every country in Africa should be on a path to prosperity – and that path is an exciting thing to be part of,” Gates said.

Following his address, Gates joined Dr. Paulin Basinga, the foundation’s Africa director, in a fireside chat to discuss Africa’s development agenda and the investments and partnerships needed to drive future progress.  

Calls for collaboration and shared responsibility were delivered by prominent African leaders, including Dr. Ngozi Okonjo-Iweala, director-general of the World Trade Organization, and Amina J. Mohammed, deputy secretary-general of the United Nations.

Renowned advocate for women and children, Mrs. Graça Machel, described the current situation as “a moment of crisis” and emphasized the importance of enduring partnerships in Africa’s development journey. “Mr Gates’ long-standing partnership with Africa reflects a deep understanding of these challenges and a respect for African leadership, ideas and innovation,” she said. “We are counting on Mr Gates’ steadfast commitment to continue walking this path of transformation alongside us.”

Dr. Ngozi Okonjo-Iweala emphasized that Africa’s health progress is a result of strong government leadership, resilient communities, and partnerships that deliver results.

Gates called for prioritizing primary healthcare, emphasizing that “investing in primary healthcare has the greatest impact on health and wellbeing.”

“With primary healthcare, what we’ve learned is that helping the mother be healthy and have great nutrition before she gets pregnant, while she is pregnant, delivers the strongest results. Ensuring the child receives good nutrition in their first four years as well makes all the difference.”

Gates’ speech highlighted how countries like Ethiopia, Rwanda, Zimbabwe, Mozambique, Nigeria, and Zambia are showing what’s possible when bold leadership harnesses innovation. From expanding frontline health services and using data to cut child mortality, to deploying advanced tools against malaria and HIV, and safeguarding primary healthcare despite fiscal strain—these country-led efforts are driving scalable, homegrown progress.

Reflecting on more than two decades of engagement on the continent, Gates said, “I’ve always been inspired by the hard work of Africans even in places with very limited resources.” He added, “The kind of field work to get solutions out, even in the most rural areas, has been incredible.”

Gates spoke about the transformative potential of artificial intelligence, noting its relevance for the continent’s future. He praised Africa’s young innovators, saying he was “seeing young people in Africa embracing this, and thinking about how it applies to the problems that they want to solve.” Drawing a parallel to the continent’s mobile banking revolution, he added, “Africa largely skipped traditional banking and now you have a chance, as you build your next generation healthcare systems, to think about how AI is built into that.” 

He pointed to Rwanda as an early example of this promise, noting, “Rwanda is using AI to improve service delivery. E.g. AI-enabled ultrasound, to identify high-risk pregnancies earlier, helping women receive timely, potentially life-saving care.”

In Ethiopia and Nigeria this week, Gates will see first-hand the state of health and development priorities in the wake of foreign aid cuts, and he will affirm his and the foundation’s commitment to supporting Africa’s progress in health and development over the next 20 years.

“Our foundation has an increasing commitment to Africa,” Gates said. Our first African office was here in Ethiopia about 13 years ago. Now we have offices in South Africa, Kenya, Nigeria and Senegal. That’s a great way for us to strengthen partnerships.”

While in Ethiopia, Gates met with Prime Minister Abiy Ahmed and heard how Ethiopia is sustaining the momentum on critical reforms, expanding essential services, and remaining resilient amid shifting global aid dynamics. Gates also took part in a roundtable with the Ethiopian Public Health Institute on the country’s iodine-folic acid double-fortified salt initiative.

From Addis Ababa, Gates will travel to Nigeria, where he will meet with President Bola Ahmed Tinubu and engage with federal and state leaders to discuss Nigeria’s primary health care reforms. He will also participate in a Goalkeepers Nigeria event focused on Africa’s innovation future and meet with local scientists and partners shaping Nigeria’s national AI strategy and scaling up health solutions.

Gates’s trip follows the foundation’s historic announcement on May 8 that it would spend $200 billion over the next 20 years to advance progress on saving and improving lives and Gates’ commitment to give away virtually all of his wealth to the foundation in that timeframe. Over the next two decades, the foundation will work together with its partners to make as much progress as possible towards three primary goals: end preventable deaths of moms and babies; ensure the next generation grows up without having to suffer from deadly infectious diseases; and lift millions of people out of poverty, putting them on a path to prosperity. At the end of 20 years, the foundation will sunset its operations.

Over the last two decades, the Gates Foundation has worked alongside African partners to save lives, develop vaccines, and strengthen systems. It has helped catalyze more than 100 innovations and contributed to saving more than 80 million lives through Gavi and the Global Fund to Fight AIDS, Tuberculosis, and Malaria.

Stories Continues after ad

Sudhir, other entrepreneurs commended for boosting Uganda’s tourism sector

Tycoon Sudhir at the Pearl of Africa Tourism Expo (POATE) 2025.

The Ministry of Tourism, Wildlife, and Antiquities of Uganda has commended the participation of prominent entrepreneurs Sudhir Ruparelia, Patrick Bitature, and Karim Hirji at the just concluded Pearl of Africa Tourism Expo (POATE) 2025, which has been a vibrant showcase of Uganda’s tourism potential.

The event, held at the Speke Resort Munyonyo, drew industry leaders, investors and hospitality giants like Serena Hotels, Sheraton Kampala, and Protea Hotels, signaling a robust future for the sector.

The expo has been a platform for dialogue, cultural displays, and investment pitches, with Uganda’s tourism sector taking centre stage as a lucrative destination. During a keynote session, Col. Edith Nakalema, speaking on behalf of the Ministry, praised the entrepreneurs for their commitment to advancing Uganda’s tourism landscape.

“The presence of visionaries like Sudhir Ruparelia, Patrick Bitature, and Karim Hirji at POATE2025 underscores the confidence that Uganda’s business community has in our tourism sector,” Nakalema stated.

She highlighted the country’s stability, investor-friendly policies, and global recognition, including its ranking as the third most rewarding economy by the Oxford Economic Forum.

Sudhir Ruparelia, a Forbes-listed entrepreneur since 2019, is a major investor in the hotels sector, including the prestigious Speke Resort Munyonyo, the venue hosting POATE2025. His portfolio of accommodation facilities has played a pivotal role in elevating Uganda’s hospitality standards, known for their luxury accommodations and top-tier services like conference hosting and catering, attracting both local and international visitors.

Patrick Bitature, owns Protea Hotels, including the notable Protea Hotel Kampala Marriott Skyz, which has become a cornerstone for business travelers and tourists alike. Meanwhile, Karim Hirji, leads the Imperial Group, operating six hotels across Entebbe and Kampala.

The event featured a series of engaging activities, including a cultural performance by a traditional dance troupe, which captivated attendees with vibrant displays of Ugandan heritage. A formal dinner setting also provided a space for networking, where industry leaders were seen exchanging ideas over elegantly set tables, as captured in images shared by the Ministry on X. Nakalema encouraged attendees to convert tourists into investors, noting that many expatriates have chosen to settle and start businesses in Uganda due to its conducive environment.

Amos Wekesa, the founder of Great Lakes Safaris, delivered an inspiring keynote, recounting his journey from humble beginnings to leading a tourism empire that operates lodges, cruise boats, and safari vans across Uganda and Tanzania. “You don’t need a Harvard degree to succeed in this industry,” Wekesa emphasized, urging aspiring entrepreneurs to focus on passion, resilience, and financial discipline. His story resonated with many, highlighting the opportunities within Uganda’s tourism sector for those willing to persevere.

The World Bank’s Mohammed Suleiman Akbar also spoke at the expo, underscoring Uganda’s global relevance in authentic tourism experiences. “With attractions like the source of the Nile, the largest lake in Africa, and the Big Five, Uganda is well-positioned to benefit from the resilient global tourism industry,” he said. He stressed the importance of effective marketing to attract more visitors and encourage repeat visits.

Financial support for the sector was another key focus, with the East Africa Venture Capital Association announcing readiness to fund viable tourism ventures, particularly those led by women and youth, with up to $100,000. PostBank Uganda and the Uganda Free Zones Authority also highlighted tailored financial services and investor incentives, reinforcing the government’s commitment to fostering growth.

As POATE2025 continues, the Ministry of Tourism remains optimistic about the sector’s trajectory. “Opportunities abound, and they are waiting to be exploited,” said Rebecca Nalumu of the Uganda Free Zones Authority. With the backing of entrepreneurs like Ruparelia, Bitature, and Hirji, Uganda’s tourism industry is poised to shine brighter on the global stage, turning every visitor into a potential business partner.

Stories Continues after ad

Finance Ministry launches national budget month for FY 2025/26

Finance Minister, Matia Kasaija presenting before Parliament.

                                                                                                                                              Finance Minister Matia Kasaija has launched the national budget month activities for FY 2025/26 at the Uganda Media Centre.

During the launch that took place in Kampala, Finance Minister Matia Kasaija said the government has continued to undertake deliberate reforms to strengthen good governance and inclusivity in the national budget processes.

Kasaija said a responsive budget process, is one that leaves no one behind, and is therefore fundamental in building a just and equitable society.

He applauded the collaboration with civil society organisations since 2018 to date to promote budget transparency and accountability.

Kasaija said the national budget month is a vital platform for bringing the budget closer to the people, adding that it provides space for dialogue on national priorities and citizen concerns.

“It’s an opportunity for all stakeholders to better understand what the approved budget entails and how it will impact their lives,” said the Minister.

Kasaija also launched the National Public Investment Management [NPIM] Policy which will transform how Uganda plans, implements, and monitors public investments.

The NPIM Policy will ensure that every shilling invested delivers real value through job creation, improved services, and sustained economic growth.

“As we embark on the implementation of the Fourth National Development Plan [NDP IV], our ambition is to grow Uganda’s economy from $50 billion to $500 billion in the next 15 years. Achieving this will require better planning, efficient use of public resources, and timely delivery of high-impact projects,” said the Minister.

The Deputy Secretary to the Treasury, Patrick Ocailap said the government remains committed to the fiscal consolidation agenda by sustaining the drive for increasing revenue generation, limiting borrowing to only critical investments and ensuring efficiency and effectiveness in use of the limited public resources.

He said during the budget month the Ministry together with Partners will provide full disclosure of the budget; communicate the opportunities in the budget and how every Ugandan can benefit from them; account to the people of Uganda on the previous financial year budget commitments and also obtain feedback from the citizens to inform future budgets and policies.

Earlier, Uganda Revenue Authority [URA] Commissioner, Abel Kagumire who represented the URA Commissioner General, John Musinguzi said the national ambition is to fully fund the budget using domestic resources, adding that this is how Uganda will reduce dependence, regain policy space, and take ownership of its development journey.

“This ambition is not for government alone. It requires the full participation of every eligible citizen. It calls for tax compliance, civic vigilance, and a renewed sense of shared responsibility,” said Kagumire.

He reaffirmed URA’s commitment to transparency, dialogue, and service, adding that they are ready to support every citizen, every taxpayer, and every stakeholder on this journey.

The Civil Society in a joint statement delivered by the Executive Director, Civil Society Budget Advocacy Group [CSBAG], Julius Mukunda commended the government for the approval of the Public Investment Management Policy and demonstrated commitment to climate finance.

They however called upon government to prioritise financing to refers to the “Agro-industrialization, Tourism development, Mineral-based industrialization (including oil and gas), and Science, technology and innovation [ATMS] and local governments in addition to limiting domestic borrowing and ensuring that the private sector is effective.

Budget Month Activities FY 2025/26

Launch of the Budget Month and National Public Investment Management [NPIM] Policy – May 29, 2025;

Blood Donation drive by Uganda Blood Transfusion Services – May 29, 2025 at the Ministry of Finance parking area;

Pre & Post budget speech Media Engagements on Topical Issues on the Budget/Economy –Wednesday June 4, 2025 to Saturday July12, 2025;

Pre-Budget Dialogue on the State of the Economy by SEATINI on Tuesday 10th June, 2025;

 Budget Reading- Thursday June 12 , 2025;

Hybrid Post-Budget Breakfast Conference on Tax Measures by URA Tuesday June 17, 2025;

 Business to Budget High-Level Dialogue under the theme “Assessing the effects of Budget on Growth, Trade and Private Investment” by CSBAG- Tuesday June 17, 2025;

Post Budget Dialogue to facilitate public discussion and feedback on the approved budget by ACODE and CSBAG – Wednesday 18th June, 2025;

 Post- Budget EAC Tax and Debt Dialogue and National Dialogue on Tax Measures for FY 2025/26 by SEATINI- Thursday 26th June, 2025;

Private Sector National Dialogue on Wealth Creation, Business and Economic Recovery by PSFU- Monday June 16, and Regional Dialogues from Wednesday June 18 to Friday June 27, 2025;

Regional Budget Engagements and Taxpayers Dialogue on Opportunities in the Budget and Tax Measures by URA from June 19 to June 27, 2025; and,

Dialogue with Journalists and Editors on the National Budget on Friday June 27, 2025.

Stories Continues after ad

BoU eyes Shs990b in treasury bond auction for June

Bank of Bank headquarters.

The Bank of Uganda (BoU) has opened bids for government Treasury Bonds worth Shs990 billion, aiming to tap into investor appetite while supporting the country’s economic stability and development agenda.

The auction, scheduled for Wednesday, June 11, 2025, will offer re-openings of 2-year, 5-year, and 15-year bonds, with settlement set for Thursday, June 12. The central bank is inviting both institutional and individual investors to participate through the Central Securities Depository.

Breakdown of the offering

2-Year Bond (Shs230 billion) – 13.500% coupon, maturing July 9, 2026, taxed at 20%.

5-Year Bond (Shs330 billion) – 14.250% coupon, maturing August 23, 2029, taxed at 10%.

15-Year Bond (Shs430 billion) – 15.800% coupon, maturing June 23, 2039, taxed at 10%.

The auction is part of regular government fundraising under the Public Finance Management Act, 2015.

Minimum bid amounts are set at Shs200.1 million for competitive bidders and Shs100,000 for non-competitive participants. Bids must be submitted by 10:00 AM on the auction day.

Analyst: 15-year bond offers immediate gains

Financial analyst Alex Kakande described the 15-year bond as a “strategic pick” for income-focused investors.

“The timing of this bond is especially favourable,” he noted. “Anyone who invests by June 11 will receive the next coupon on July 10, 2025—just a month later. That’s a 7% net return almost immediately, followed by another payout on January 8, 2026, totaling 14% within seven months.”

He added that such returns, especially in a stable macroeconomic environment, make the 15-year bond a compelling option for those managing liquidity and seeking predictable cash flows.

This auction adds to Uganda’s efforts to maintain macroeconomic stability while giving investors opportunities for medium and long-term portfolio growth.

Stories Continues after ad

 Cedric Babu was patriotic-Gen. Muhoozi

RIP: Cedric Babu.

The Chief of Defence Forces and also Chairman of the Patriotic League of Uganda pressure group Gen Muhoozi Kainerugaba has mourned the passing on of Cedric Babu as a great loss to the country and Moreso PLU.

“I join the family of Capt. Francis Babu to mourn the passing of my brother, my close friend and comrade in the struggle, Cedric Babu, who passed away yesterday in Nairobi. Cedric was an optimist always thinking about tomorrow, a better tomorrow. He is survived by a wife and three handsome boys who love sports like their father did” the CDF wrote.

He continued “It is for all these talents and many more that I appointed him Vice Chairman for Kampala on the Central Committee of PLU. He was a great addition to the team and we shall miss him immensely. May his soul rest in eternal peace”.

Mr Babu was known for his media works and as a former tennis star Cedric died yesterday.

Cedric, the son of veteran politician, Captain Francis Babu and businesswoman Olive Kigongo, passed away on Saturday, May 31, at Aga Khan Hospital in Nairobi, Kenya. He had been airlifted there after collapsing in Kigali, Rwanda.

At the time of his death, Cedric and his family were in the middle of a campaign to raise £300,000 (approximately Shs1.2billion) for a life-saving heart transplant.

The transplant was to be conducted abroad, and the family had appealed for urgent financial support.

The campaign’s momentum was immediate. Donations streamed in from all corners—Uganda, the diaspora, strangers, friends, and celebrities alike. One anonymous contributor donated £7,417, six others gave £1,000 or more, and Leopold Kyanda offered £622. Each donation carried a message of hope. But it was the Ruparelias’ tribute, combining generosity and emotional resonance, that touched many the most.

Tragically, time was not on Cedric’s side. Despite the overwhelming response, his condition worsened, and he passed away less than two days later in a Nairobi hospital. His death stunned a nation and left a void in the media community but also shone a light on Uganda’s unshakable spirit.

Even as some cynics questioned the possibility of raising such a large sum so quickly, their doubts were drowned out by the voices of 343 donors who gave what they could. The GoFundMe effort may have fallen short of the full target, but it became something more a symbol of solidarity, of people rising to support one of their own in his darkest hour.

Gen. Muhoozi eulogised his friend as someone who stood out amongst his peers as an individual who had a rich and wide spectrum of talents. “He had a passion for sports in which he excelled. He played tennis with a skill that made him amongst the best that our country has ever produced”. “Cedric was a businessman and was equally successful there at a young age. He was a nationalist and a patriot. Where many children of Uganda’s elite families eschew politics, Cedric had the courage to participate in the governance of his country”.

According to the tentative sendoff programme, from Sunday, Monday June 2 until Tuesday June 3, there will be prayers at the late’s residence on Plot 1 Fumu Close Kololo before mass on Wednesday and vigil on Thursday at his father’s residence. On Friday, there will be requiem mass at Rubaga Cathedral before the cortege leaves for Kamengo home for burial on Saturday.

Stories Continues after ad

Atingi-Ego discusses Uganda’s financial transformation at Musevenomics2025 conference 

BoU Governor Michael Atingi-Ego.

At the #Musevenomics2025 summit, Bank of Uganda Governor Michael Atingi-Ego delivered a powerful reflection on Uganda’s financial evolution, tracing the sector’s transformation from a past of repression to a future of inclusive growth and resilience.

He recalled a bleak history: “Uganda’s financial sector was once more of a barrier than a bridge to progress,” marked by “rampant inflation, a contracting productive base, and rigid interest rates.” This era of financial repression, he said, demanded fundamental reforms that laid the foundation for today’s economic stability.

Central to these reforms was the controversial privatization of Uganda Commercial Bank (UCB). Atingi-Ego described UCB as a “living embodiment of the problems of the past,” citing 75% non-performing loans and chronic mismanagement.

“Selling UCB to Stanbic Bank Uganda in 2002 was a crucial component of our comprehensive financial sector reform,” he stated, “transforming it from a long-standing liability into a dynamic bank” that now plays a key role in financing government programs.

The Governor emphasized that the Bank of Uganda’s mandate now goes beyond maintaining price stability. It includes financial inclusion, with significant gains from mobile money platforms, which have extended nearly Shs1 trillion in short-term loans and are increasingly linked to insurance and savings services.

He also outlined the integration of Environmental, Social, and Governance (ESG) principles within the banking sector. “We are urging commercial banks to participate in environmental protection for long-term sustainability in an agricultural economy,” he noted.

To build more resilient reserves, Atingi-Ego revealed a strategic shift: monetizing Uganda’s raw gold deposits, a move designed to support local artisanal miners while strengthening the country’s financial backbone. “We must move away from reliance on volatile portfolio flows,” he asserted.

The Governor closed with a focus on digital transformation, highlighting its role in driving inclusive growth while addressing cybersecurity. He envisions a “future of prosperity” powered by secure and accessible digital financial services.

In a complementary address, Dennis Galabuzi Ssozi, the National Coordinator for the Parish Development Model (PDM), brought grassroots development into sharp focus.

Galabuzi began by affirming the state’s crucial role in strategic sectors. “Electricity, water, and telecom must remain under strong state involvement,” he warned. “A collapse in these foreign-dominated utilities could cripple half the economy.”

Turning to the PDM, he described it as “a government strategy to accelerate wealth creation and improve the quality of life of Ugandans by delivering services closer to the citizens.” Using an aircraft analogy, he said: “We are bringing services down to the ground level, making the parish the epicenter for planning, budgeting and service delivery.”

The model’s design tackles Uganda’s youth bulge, with 51% of the population under 16 years. “This dependency ratio must be flipped,” Galabuzi emphasized. “With the right policies, this can become our demographic dividend.”

He concluded that Uganda must seize its greatest opportunities—its youthful population, strong agricultural potential, rising urbanization, and arable land—through a plan of execution that empowers grassroots households to drive economic transformation and independence.

Stories Continues after ad