Records indicate that more than 1,000 customers from around the country had deposited money ranging from one million to 800 million Shillings, upon being promised a 40 per cent return on investment. At the time of its closure, the company had collected an estimated 10 billion Shillings from the public.
The girls aged between 14 to 18 years were intercepted at Jomo Kenyatta International Airport in Nairobi, where they were due to board their next flight to the emirates. The girls believed to be from Napak district in Karamoja sub-region were subsequently handed over to Ugandan authorities in Busia.
The bridge that links Arua town to Terego and Lower Ayivu County was contracted to KG Adubango Construction Company at a cost of 340 million shillings with funding from Uganda Road Fund. The construction works were commissioned in March 2019 but suddenly stopped in August leaving the local residents stranded.
Kakuru told the court that it was unfortunate that they had failed to deliver judgment for the third time, saying he feels frustrated with the delay. He explained that they had failed to deliver judgment this time round because of the one of the judge has been sick for almost a week.
The Auditor General John Muwanga noted that although the government appointed the Investment Advisory Committee (IAC), there is no approved Petroleum Revenue Investment Policy (PRIP) and Investment framework to guide operations of the petroleum revenue.
Gerrit Ribbink, the senior consultant entrepreneur told reporters on Wednesday that the fund targets sizeable projects that are able to create at least 250 jobs. Also, the company or organization applying must be able to fund 50 per cent of its total project and then the fund can take care of the reminder.
Sam Kigula, the chairperson of Lake Kyoga Integrated Management Organization, an umbrella organization for all districts sharing the lake, explains that during the review meeting, local leaders asked the Fisheries Protection Unit (FPU) to lift the ban to enable fishermen to resume fishing for survival.
Kenneth Jogo Biryabarema, the Rubanda District LC 5 Chairperson, says the high cost of land has impacted heavily on investors especially hoteliers, saying some of them have decided to stay away from the district.