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Stanbic Uganda Reports Shs 478 billion Net Profit for 2024, pays Shs 427 billion in taxes

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Our Reporter
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Stanbic Bank Uganda

Stanbic Uganda Holdings Limited (SUHL), the parent company of Stanbic Bank Uganda, SBG Securities, Stanbic Business Incubator, Stanbic Properties, and FlyHub, has announced strong financial results for 2024, with profit after tax (PAT) rising to Shs 478 billion.

The announcement was made at a press conference attended by top management, clients, and stakeholders, including Francis Karuhanga, SUHL’s Chief Executive, and Ronald Makata, the Chief Finance and Value Management Officer.

Despite the challenges posed by a volatile global economy, Stanbic Uganda showcased its resilience, with impressive revenue and asset growth. “We are pleased with the results achieved in 2024, especially considering the challenging global environment,” said Karuhanga. “Key drivers of the local economy were stable, supported by prudent fiscal and monetary policies. Despite an evolving competitive landscape, including the rise of fintechs, we stayed focused on our strategic goals, executing with discipline and adaptability.”

Financial Performance Highlights

Stanbic Uganda delivered exceptional results across key financial metrics. Total revenue reached Shs 1.3 trillion, reflecting an 11.8% Compound Annual Growth Rate (CAGR).

“Our ability to manage costs efficiently was central to our performance,” noted Ronald Makata, SUHL’s CFO. “We maintained operating expenses at Shs 612 billion, delivering a robust cost-to-income ratio of 47.2%, which enabled us to achieve a PAT of Shs 478 billion—an increase of 16.2% over the previous year.”

Deposits grew by 12.2%, reaching Shs 7.1 trillion, while loans and advances rose by 3.5%, maintaining a solid 19.5% market share, totalling Shs 4.4 trillion. The bank’s non-interest revenue also grew by 10.8%, driven by higher client transaction volumes, underlining Stanbic Uganda’s strong position in the market.

In recognition of this stellar performance, Stanbic Uganda has recommended a total dividend of Shs 300 billion for the 2024 financial year. This includes Shs 140 billion already paid as interim dividends in mid-2024, with the remaining Shs 160 billion to be paid subject to shareholder approval. This represents a solid 7.1% annual growth in dividends, underscoring the bank’s commitment to delivering value to its shareholders.

Driving Uganda’s growth

In 2024, Stanbic Uganda paid Shs 427.8 billion in taxes, surpassing the Shs 355 billion paid in 2023. This significant payment reinforces the entity’s role as the leading taxpayer in the financial services sector, while also assisting Uganda Revenue Authority (URA) in collecting over Shs 10 trillion, up from Shs 8 trillion in 2023. This contribution cements Stanbic Uganda’s purpose of driving Uganda’s growth through supporting the domestic revenue mobilisation efforts to support the country’s fiscal plans.

Shs 454 Billion in Agriculture including Shs 170 billion to farmer saccos. Since its launch during the COVID-19 pandemic, Stanbic Uganda’s Economic Enterprise Restart Fund (EERF) has provided crucial credit and capacity building support to smallholder farmers through their SACCOs at low interest rates of 10% for those in agriculture, and 12.5% for those in general economic activities. In 2024, over Shs 96 billion was invested in nearly 7,000 SACCOs, increasing the total investment to Shs Shs 170 billion since 2022. This funding has directly benefited over 2.6 million members, helping farmers access affordable loans and empowering Uganda’s agricultural sector.

Shs 173 billion in low-Interest loans for women entrepreneurs via Stanbic4Her: Stanbic4Her, our flagship programme for women-owned enterprises, reached a major milestone in 2024, lending Shs 94 billion to 6,700 women entrepreneurs—an increase of 54.5% from the previous year, and Shs s 173 billion since it was launched in March 2022. This initiative provides women with affordable credit at 15.5% interest, helping them scale their businesses. In addition, over 3,400 women received business management and financial literacy training, fostering sustainable growth and empowering women across Uganda.

Shs 973 Billion in credit to SMEs including Shs 76 billion through Stanbic Business Incubator: The Stanbic Business Incubator supported over 3,000 enterprises in 2024, enabling them to access Shs 76 billion in credit, up from Shs 51 billion in 2023. On average, each supported business created seven new jobs, contributing significantly to employment generation and livelihood improvement. The incubator continued to support formalisation as a way of enhancing access to finance. In 2024, 43% of supported businesses were assisted to get registered with URSB.

Looking ahead, Karuhanga said, Stanbic Uganda will sustain its focus on maintaining its growth trajectory while continuing to serve as a catalyst for sustainable economic development in Uganda.  “As we look to the future, our commitment to innovation, financial inclusion, and driving value for our stakeholders remains unwavering,” said Karuhanga. “We are confident that with our continued focus on sustainable growth, we will navigate the evolving market dynamics and continue contributing to Uganda’s economic prosperity.

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EU allocates additional Shs5b for Uganda’s fight against Ebola outbreak

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Our Reporter
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The European Union has allocated more (UGX 5,040,000,000) €1.2 million in emergency humanitarian funding to support Uganda’s ongoing response to the Sudan strain of the Ebola virus, following a surge in cases since the outbreak was officially declared on 30 January 2025.

This new allocation follows an earlier disbursement of €200,000 in February 2025 to the Uganda Red Cross Society to bolster local response efforts. 

The funding will be channeled through the World Health Organisation (WHO) to address critical areas including coordination, surveillance, infection prevention and control, case management, operational support and logistics.

As of 5 March 2025, Uganda has recorded 14 Ebola cases 12 confirmed and 2 probable along with 4 deaths, comprising 2 confirmed and 2 probable fatalities.

The latest risk assessments place seven districts, including the capital Kampala, at a very high risk, with 11 additional districts categorized as high risk.

In parallel, the EU has deployed public health experts from Member States to Uganda through its Civil Protection Mechanism, aiming to reinforce ongoing national and international containment and response measures

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AUSSOM honours 160 Uganda Police officers for brave contributions to Somalia’s peace

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Our Reporter
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The African Union Support and Stabilisation Mission in Somalia (AUSSOM) has honoured 160 Ugandan police officers for their outstanding contribution to Somalia’s peace and security.

The officers, from the 12th contingent of the Uganda Formed Police Unit (UFPU-12), received African Union medals of honour at a colourful ceremony presided over by the acting Head of AUSSOM, Sivuyile Bam.

AUSSOM Police Commissioner, Assistant Inspector General of Police (AIGP) Hillary Sao Kanu, and other senior officials attended the event at the AUSSOM Force Headquarters in Mogadishu.

“This medal parade is a testament to your resilience, dedication, and sacrifices in the fight against Al-Shabaab and the broader peace-building mission under the African Union mission,” said Mr. Bam in his address to the officers who have completed their tour of duty.

“Despite the tough conditions and high risks, you have shown unwavering determination and stood firm in the face of adversity. Your bravery and professionalism have not only helped to restore law and order but have also strengthened the trust and confidence of the Somali people,” added Mr. Bam, praising the Government of Uganda for commitment to regional peace and stability.

The UFPU-12 contingent, deployed to Somalia in April 2024 under the African Union Transition Mission in Somalia (ATMIS), has significantly contributed to the African Union mission’s success through operational support to the Somali Police Force.

“The journey of UFPU-12 in Somalia has been of resilience, discipline, and dedication to duty. Over the past years, you have faced significant operational challenges, yet you have demonstrated exceptional courage and determination in carrying out your tasks. Whether through high-risk patrols, the protection of key installations, community policing initiatives, or capacity-building of Somali Police Force (SPF), your contribution has been invaluable,” said AIGP Kanu, who commended the officers for their dedication, professionalism and sacrifice.

“The successful execution of joint operations with the Somali Police Force, your assistance in supporting the electoral processes, and your commitment to upholding human rights has significantly contributed to AUSSOM’s success.”

UFPU-12 Contingent Commander, Senior Superintendent of Police (SSP) Justus Asiimwe, praised the officers for closely collaborating with the Nigerian Formed Police Unit and Ugandan troops at their shared camp in Mogadishu.

“We will always cherish the experiences and relationships that we have developed and cultivated. No two groups understand each other better than us and Nigeria,” said SSP Asiimwe.

Other senior officials in attendance included AUSSOM Police Training Coordinator, Assistant Commissioner of Police (ACP) Samuel Asiedu Okanta, acting AUSSOM Police Operations and FPU Coordinator, ACP Richard Evans Onyait, AUSSOM Police Reforms and Restructuring Department (RR&D) Coordinator, ACP John Simon and Deputy Commander of the Ugandan troops in Somalia, Col. Christoper Tumwine Columbus.

AUSSOM Formed Police Units (FPUs) provide operational support to SPF, including VIP escort and protection, security at high-level events, mentorship and training, and securing key government installations.

Other countries contributing Formed Police Units to AUSSOM, alongside Uganda, include Ghana, Nigeria and Sierra Leone

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Uganda Breweries commits Ushs1b for Mt. Elgon water catchment protection

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Our Reporter
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Uganda Breweries Limited (UBL) has today launched the Elgon Pamoja Partnership, a landmark Collective Action on Water program aimed at protecting the Mt. Elgon catchment area and promoting long-term water security in Uganda.

The launch, held as a side event during the 2025 Water and Environment Week, brought together key stakeholders from government, private sector, development partners, NGOs, and community leaders.

During the event, UBL committed UGX 1 billion—spread over three years—to support water conservation and livelihood enhancement initiatives in the Sipi Sub-Catchment of the Mt. Elgon area, covering the districts of Kapchorwa, Bukwo, Kween, and Bulambuli.

As part of this pledge, UGX 450 million has already been disbursed. UBL’s Managing Director, Andrew Kilonzo, handed over a ceremonial cheque for this amount to Mr. James Kisekka, Country Director of Aid Environment, the program’s implementing partner. Aid Environment will spearhead on-the-ground efforts to restore ecosystems, enhance soil and water health, and strengthen climate resilience among smallholder farmers in the region.

The initiative aligns with UBL’s water stewardship strategy, which includes water efficiency, replenishment, advocacy, and collective action. The initiative will implement practical, high-impact solutions aimed at utilising nature-based solutions to conserve and protect the Mt. Elgon region. These include soil and water conservation to combat erosion and enhance soil fertility; increasing tree cover through afforestation and support to local tree nurseries; promoting the use of biogas digesters to reduce reliance on firewood and curb deforestation; and expanding rainwater harvesting to improve water access for both households and farms.

Additionally, the program will promote regenerative agriculture for long-term soil and water health, enhance farmer access to finance to support sustainable farming practices, and introduce small-scale irrigation systems to improve water use efficiency.

The latest report by the National Environment Management Authority (NEMA) indicates that Uganda has been losing, on average, 791 km2 of its wetlands each year, a trend that could lead to total depletion by 2040 if it continues. While procedures in law or policy for participation by users/communities and level of participation in Uganda (SDG 6 indicator 6.1a and b) are reported to be very high, particularly in rural areas, the same report provides an alarming assessment that the proportion of bodies of water with good ambient water quality in Uganda

 (2017–2020) is zero compared with other countries in the region, such as Burundi at 100 percent, Kenya and Tanzania at 85 percent, and Rwanda at 79 percent.

Speaking at the partnership launch, the Uganda Breweries Managing Director Mr. Andrew Kilonzo reiterated their commitment to water stewardship. “Water is our most important ingredient. We understand how important and precious this resource is, and because of that, we want to protect and sustain it for generations to come.”

“The Mt. Elgon region is not only an important catchment area but also a crucial source of barley and sorghum, which are our raw materials. The project interventions will also improve the yields and incomes for farmers” He added.

Dr. Alfred Okidi, Permanent Secretary Ministry of Water & Environment applauded Uganda Breweries and AidEnvironment for their great work in environmental stewardship. “I would like to comment on Uganda Breweries for committing UGX 1b monetary contribution. I hope these funds will go a long way in environmental conservation in the Mt. Elgon Water Catchment. I am glad to hear that Uganda

Breweries is leading by example and is playing a critical role in mobilising industry peers to amplify this initiative.” He said that recent occurrences such as floods and prolonged drought which have been a result of environmental degradation mainly because of human activities such as deforestation, and encroachment of wetlands need such interventions to curb the negative effects they cause to our environment.

This Program builds on Aid Environment’s Green Future Farming project, which was implemented from 2020 to 2024 with a UGX 3.6 Bn grant from the IKEA Foundation.

It leverages AidEnviroment’s Harvest Health project (2024 – 2027) implemented in partnership with the NGOs Food for the Hungry and Kapchorwa Civil Society Organisation, with a UGX 2.4 Bn grant from the Netherlands Enterprise Agency (RvO).

In his remarks, the Director of AidEnvironment, James W. Kisekka said that solutions to environmental problems require a multi-sectoral approach to solve, and this program is an indicator that the private sector, civil society, and Government are willing to work together to protect our environment.

Stakeholders at the event emphasized the need for other manufacturers to join the initiative, underscoring that water catchments are shared resources whose protection demands collective responsibility.

With support from the Ministry of Water and Environment, local communities, and development partners, the Elgon Pamoja Initiative is expected to yield measurable improvements in water security, livelihoods, and environmental health—while positioning Uganda as a leader in sustainability-focused public-private collaboration.

The Elgon Pamoja program contributes to SDG 1 (end poverty), SDG 6 (clean water and sanitation), SDG 7 (affordable and clean energy), SDG 8 (Decent work and economic growth), SDG 13 (Climate Action), SDG 15 (Life on land), and SDG 17 (Partnerships for the goals).

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UDB launches RISE program to facilitate sustainable development

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Our Reporter
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Uganda Development Bank (UDB) has launched the Reshaping Industries for a Sustainable Economy (RISE) Program, an initiative that is expected to transform the way the Bank deploys its resources within the economy.

The RISE Program delivers a groundbreaking solution to address modern-day challenges, diversify the economy, and establish high-tech, high-value-added, high-income, and truly green businesses and projects. It focuses on developing a sustainable local industrial base through the power of crowds. It is about creating and funding “Change the World” businesses and projects. 

The RISE platform enables financial institutions to create demand for sustainable finance by turning key societal, economic, and environmental challenges into transformational business opportunities.

During the launch held at Kampala Serena Hotel on Thursday, Patricia Ojangole, the Managing Director Uganda Development Bank, revealed that under the RISE Platform, UDB will be able to deploy its loans, advances, and investment portfolio through exploiting science and technology, revolutionizing business models, fueling innovation in the economy and igniting corporate and start-up entrepreneurship to fast-track socio-economic transformation that is environmentally and climate-friendly.

“At a time where countries are not only focusing on development but sustainable development which meets the needs of the present without compromising the ability of future generations, it is critical that the financial sector plays a catalytic role towards making this future possible,” Ojangole said.

“Creating a more sustainable future requires an all-hands-on-deck approach from all actors and financing is a key lever to influence sustainable outcomes. RISE presents a unique opportunity for us as UDB and all the other stakeholders, to incentivize the transition through agreeing to lend to, invest in and insure businesses that manage their nature risks and impacts,” she added.

RISE’s aspirations are consistent with the Fourth National Development Plans (NDP IV) theme of sustainable industrialization for inclusive growth, employment and sustainable wealth creation. Government has embarked on an ambitious strategy to grow Uganda’s economy tenfold, from USD50 billion to USD500 billion by the year 2040. This strategy focuses on agro-industrialization, science, technology, and innovation among others as catalysts for this growth.

At the same time, the UN Sustainable Development Goals (SDGs) to which Uganda is party, advocate for inclusive and sustainable industrialization, supporting developing countries to strengthen their scientific and technological capacity to move towards more sustainable patterns of consumption and production, and increasing substantially the share of renewable energy in the global energy mix.

At the launch of RISE, Arshad Rab, CEO and Chairman, International Council of Sustainability Standards for Value-Driven Financial Institutions noted that while there is consensus to development that is sustainable, nations need to make deliberate efforts to bring these aspirations to fruition.

“The private sector will play an important role in redefining business as usual, helping to support the transition from exploiting nature to restoring nature. RISE will bring together actors from multiple sectors to help drive investment and lending practices that serve the people and the planet,” Rab said in his remarks.

He said the RISE platform will create an ecosystem in which agritech companies, scientists, engineering community, tech startups, investors, financial institutions, energy tech providers, government agencies and policymakers will drive innovative solutions that are environmentally and climate friendly.

“RISE heralds a new dawn where we rise up to the unique challenges of the 21st century, by capitalizing on emerging technologies and solutions and deploying the power of innovative ideas to change lives for the better.”

In the case of the agricultural sector which employs approximately 72% of Uganda’s population and contributed about 24.1% to the GDP in 2024, RISE will seek to build a technology ecosystem for enabling a shift from unsustainable to sustainable agricultural and food industry.

Rab added; “This ecosystem will turn the agrifood industry which is characterized by low-tech, low-yield highly labour and resource intensive and increasingly harmful for human health and environment, to a modern industry that is high-yield, high-tech, resource efficient and protects human health and natural environment.” 

A Sustainability Standards and Certification (SSCI) certified financial institution, UDB has mainstreamed sustainability through various initiatives. This has enabled the bank to support the country’s development agenda while at the same time creating positive impact on society, economy, and the environment.

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Uganda Airlines launches direct flight to London Gatwick

By
Simon Kabayo
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Uganda Airlines has officially launched direct flights between Entebbe International Airport and London Gatwick, marking a significant milestone in the airline’s growth and Uganda’s aviation industry.

 The eagerly anticipated route was unveiled amid celebrations as the national carrier marks its 5th anniversary and the flights will commence on May 18, 2025.

This new route represents Uganda Airlines’ first foray into Europe and re-establishes a direct air link between Entebbe and the United Kingdom after nearly a decade. The introduction of this service underscores the airline’s commitment to enhancing connectivity and fostering stronger ties between Uganda and the UK.

The flights will be operated using the state-of-the-art Airbus A330-800neo, ensuring a world-class onboard experience for our guests.

The schedule has been carefully designed to enhance convenience for travelers, with seamless connections available via Uganda Airlines’ hub in Entebbe to its extensive African network. Key destinations include Harare, Lusaka, Nairobi, Lagos, Abuja, Juba, Mogadishu, Kinshasa, Mombasa, Bujumbura, Dar es Salaam, Zanzibar, Kilimanjaro, Johannesburg, and the upcoming Accra route.

The four (4) times weekly will be night flights except for the Sunday flight that has been scheduled in the Morning. The Airline will operate the route on Sunday, Tuesday, Wednesday and Friday.

 Ms. Jenifer Bamuturaki, Chief Executive Officer of Uganda Airlines was elated and excited to announce the dates for the long-awaited direct flights to London by Uganda Airlines.

 She said, “This route marks the end of our establishment phase and sets us on a course for long-term growth and expansion. The London route follows meticulous planning and preparations… Finally we are ready to get you to your destination in time.”

  “It gives me great pleasure that we celebrate our 5th year with this amazing milestone.” added Bamuturaki Jenifer.

 The direct flights to London are the third international destination for Uganda Airlines outside of Africa, following successful routes to Dubai and Mumbai. The London service is expected to play a pivotal role in enhancing Uganda’s global connectivity, slashing travel time between the two cities from 16 hours to just 9 hours.

 Gen. Katumba Wamala, Minister of Works and Transport said that this route will connect Entebbe International Airport to London Gatwick, and it will be Uganda Airlines’ 17th destination.

  “We are happy that Uganda Airlines is coming in to moderate the market as it has done on other routes. This signifies the steady progress of our transport network system,” Katumba said.

 The Minister confirmed that “very soon, The Crane will be flapping its wings into the United Kingdom,” a symbolic reference to Uganda Airlines’ emblem.

Uganda is celebrated for its breathtaking landscapes, rich wildlife, vibrant cultures, and unique tourism offerings. The UK has long been a key source market for visitors to Uganda, and this direct connection is poised to enhance the travel experience, making it easier for British tourists to explore the country’s natural wonders.

According to Mr. Adedayo Olwawuyi, Chief Commercial Officer of Uganda Airlines, the direct route will offer more than convenience.

 “The launch of a direct route to London will shorten the journey and enhance our trade, education, and tourism opportunities. It’s a game-changer.”

He added that the extensive research indicates that the passenger traffic between Uganda and the UK stands at around 90,000 annually, underscoring the potential and demand for this new route.

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Museveni calls for free education and poverty eradication in Bunyoro

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Our Reporter
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President Yoweri Kaguta Museveni has called on leaders across the country to enforce free education in government schools and focus on eradicating household poverty to ensure children from poor families can access and benefit from higher education.

The President made the remarks while presiding over the groundbreaking ceremony for Bunyoro University in Kikuube District.

The President emphasized that without free and accessible primary and secondary education, many children from poor families risk being left behind in Uganda’s push for higher education.

“Insist on free education for children in government schools and implement it. The rich can take their children to private schools, but those from poor families should have no excuse for dropping out,” President Museveni said.

He noted that despite the government’s investment in higher education, poverty at the household level remains a key barrier to access.

“If families are still poor, children will drop out of school. If they drop out, who will attend this university? A university is not a marketplace you must go through the education system to qualify,” he cautioned.

The President stressed that free Universal Primary Education (UPE) and Universal Secondary Education (USE) must be fully implemented to ensure local children can benefit from institutions like Bunyoro University.

Highlighting the role of economic empowerment, President Museveni also called for efforts to improve household incomes to support children’s education.

“Even where free education has been implemented, only a limited number of high-performing students receive government sponsorship. The rest rely on family support, which means we must focus on developing homesteads economically,” he said.

First Lady and Minister of Education and Sports, Maama Janet Museveni, praised stakeholders for their commitment to realizing the dream of a public university in the Bunyoro region. She acknowledged the donation of 100 acres of land by Canon Dr. Henry Wamani and his family, which will host the university’s main campus.

“The establishment of a public university in the Bunyoro region is a testament to President Museveni’s vision of having a public university in each zone of Uganda,” she said, adding that the government has so far invested Shs.6.4 billion in the university’s preliminary setup, including the development of 18 science-based academic programs approved by the National Council for Higher Education.

The project has received an additional Shs.15 billion this financial year for the construction of the university’s initial infrastructure. The First Lady urged the university’s task force, led by Professor Samuel Kyamanywa, to expedite the procurement process and begin construction promptly.

Professor Kyamanywa described Bunyoro University as a “game changer” for higher education in the region, promising to enhance educational access and regional development once operational.

President Museveni reaffirmed his government’s commitment to expanding access to education and reiterated that free education is a key pillar in fighting poverty and enabling all Ugandan children to thrive.

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Health Ministry reassures public on full ARVs supply and free HIV services

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Our Reporter
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The Ministry of Health has reassured the public that antiretroviral drugs (ARVs) remain fully available and free of charge at all public and private not-for-profit health facilities across Uganda.

The affirmation comes following efforts to ensure uninterrupted access to life-saving HIV treatment and prevention services.

Dr. Charles Olaro, the Acting Director General of Health Services, emphasized the government’s unwavering commitment to supporting people living with HIV.

“ARVs remain available and free in all public and Private Not-For-Profit (PNFP) health facilities. Through the National Medical Stores (NMS) and Joint Medical Stores (JMS), we distribute ARVs to over 2,000 health facilities every two months. Over the past two years, there have been no reported stockouts of ARVs,” said Dr. Olaro.

He further noted that Uganda’s drug procurement systems are strong and continue to function effectively despite external funding evaluations.

“Drug procurement remains unaffected despite the ongoing United States Government exercise on re-evaluating and aligning global health support,” Dr. Olaro stated.

Dr. Olaro also announced a strategic shift towards integrated, patient-centered care.

“A shift towards a patient-centered model is underway, integrating services for HIV/AIDS, TB, Hepatitis B, Hypertension, and Diabetes into routine patient care across all healthcare levels. This ensures improved service delivery and addresses related medical and mental health conditions.”

Dr. Olaro also lauded Uganda’s local pharmaceutical sector, emphasizing its role in enhancing drug availability both domestically and in the region.

He said, “Uganda’s local pharmaceutical sector is growing, with WHO-prequalified manufacturers like Quality Chemicals Uganda Limited in Luzira, Kampala. Since 2023, they have been producing ARVs and anti-malarial medicines for both local and regional markets.”

Reaffirming the government’s support for people living with HIV, Dr. Olaro assured the public of continued access to vital HIV treatment.

“We reassure all Ugandans that HIV prevention and treatment services remain accessible and free nationwide. The Government of Uganda remains fully committed to ensuring a steady supply of high-quality, effective antiretroviral treatment, and we encourage all people living with HIV to fully utilize these essential services.”

According to Dr. Olaro, Uganda’s progress in combating HIV/AIDS is evident, with over 1.4 million people currently receiving ARV treatment and an impressive 89% viral suppression rate.

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Speke Resort Munyonyo unveils exclusive Easter Sunday brunch for a memorable celebration

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Our Reporter
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Speke Resort and Commonwealth Resort Munyonyo, Uganda’s largest and most luxurious lakeside getaway is set to offer an unforgettable Easter Sunday brunch experience for families and individuals looking to make this holiday extra special.

Nestled by the serene shores of Lake Victoria, the five-star resort presents a lavish brunch buffet featuring a delectable selection of gourmet dishes, live cooking stations, and a tempting array of Easter-themed desserts. Whether you’re craving savory delights or indulgent sweets, this brunch promises a culinary experience like no other.

The brunch will be priced at Shs180, 000 for adults and Shs90, 000 for kids, providing guests with an extraordinary culinary experience in an atmosphere of live entertainment, breathtaking views, and a festive ambiance perfect for families, friends or anyone looking to celebrate Easter in style.

To make the holiday even more memorable, guests can book a Full Board Single Deluxe for just $139. This package includes bed, breakfast, and access to the Easter Sunday brunch, with taxes included, offering great value for an all-inclusive luxury experience.

Speke Resort Munyonyo offers luxurious accommodations such as Presidential Suites, Presidential Cottages, Executive Rooms, and Superior Rooms, each providing panoramic views of Lake Victoria and the resort’s lush tropical gardens making it the ideal retreat for relaxation and rejuvenation.

To book your Easter brunch experience or for further inquiries, contact Speke Resort Munyonyo at +256 752 711 714 or +256 414 227 111, or via email at reservations@spekeresort.com. Don’t miss out on this exceptional Easter celebration at Uganda’s most prestigious resort!

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Gov’t reaffirms readiness to takeover electricity distribution from UMEME by April, 1

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Our Reporter
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The Government of Uganda has reaffirmed its full readiness to take over the electricity distribution concession from Umeme Ltd, effective April 1, 2025. This transition will be facilitated through the Uganda Electricity Distribution Company Limited (UEDCL), the Ministry of Energy and Mineral Development (MEMD) announced on Wednesday.

In a press statement, Ruth Nankabirwa, Minister of Energy and Mineral Development emphasized the ministry’s commitment to ensuring a smooth and efficient transition in electricity distribution services across the country.

Ruth Nankabirwa reassured the Nation that the Ministry of Finance has already secured the US$50Million required for UEDCL operations. These funds will be available by the end of next week, ensuring UEDCL functions and operations are fully ready to take over from Umeme on April 1st 2025.

“The Ministry of Finance, Planning, and Economic Development is in advanced stages of securing US$50 million through internal borrowing to support UEDCL capital investments. By the end of next week, these funds will be available to ensure that UEDCL is financially equipped to improve the quality of service,” MEMD stated.

Nankabirwa also noted that the government is working closely with Parliament to finalize the approval of the Buy-out amount, a claim by UMEME for capital investments made but not recovered by the end of the concession period.

“This further confirms the Government’s unwavering commitment to honouring its contractual obligations while ensuring a smooth transition in the electricity distribution sector,” she said.

Addressing staffing concerns, the Ministry assured the public that UEDCL’s restructuring process is designed to enhance efficiency and avoid duplication of roles, while ensuring cost-effectiveness in electricity distribution. It added that the recruitment process has been transparent and merit-based.

“The best-qualified personnel are retained while prioritizing operational efficiency,” she emphasized.

The Ministry also acknowledges current power reliability challenges and has directed UMEME to fulfill all contractual obligations until the end of March 2025. UMEME is required to maintain stable service delivery while UEDCL prepares to assume full operations, with corrective measures expected to take effect from April 1, 2025.

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