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Uganda

Illegal immigrant turned entrepreneur builds top-rated tourism business

These are some of the reviews tourists have left on TripAdvisor about Walter’s Tours – a guided excursion through Uganda’s capital Kampala via a motorcycle taxi (or boda-boda). The company was started about seven years ago by Ugandan Walter Wandera and today employs close to 30 motorcycle drivers who weave through Kampala’s dense traffic jams to show visitors some of the city’s main attractions and historical sites. But few know of the odds that Wandera had to beat to get to this stage. Before he was an entrepreneur of this reputable business, he was first a school dropout, homeless, and even an illegal immigrant.

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Lagarde "Impressed" By Uganda's Economic Progress

The International Monetary Fund (IMF) managing director Ms Christine Lagarde is impressed by Uganda's economic progress since the 1990's when the fund recommended radicle economic reforms. Ms Lagarde, who concluded a three-day visit to Uganda on Saturday hailed Uganda on poverty reduction, public investment, inclusive growth, financial inclusion and transparency in the oil sector. She had come to Uganda, as she said prior to the visit, to understand the economic agenda going forward.

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DFCU Takes Over Crane Bank

In exercise of its powers as receiver, under Sec 95(1)(b) of FIA, Bank of Uganda has transferred the liabilities (including deposits) of Crane to DFCU Bank. Bank of Uganda Governor Emmanuel Mutebile said on Friday the central bank has also conveyed Crane Bank's assets to DFCU bank. Addressing journalists in Kampala, Mr Mutebile explained all customers and depositors of Crane Bank shall now have their accounts operated by DFCU Bank through its wide branch network.

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Uganda Could Become First African Nation To Adopt Bitcoin Regulations

Uganda could become the first African nation to adopt legal regulations in the use of bitcoin in monetary transactions after hosting an event focused on the policy guidelines, legal and social-cultural issues on the use of crypto-currencies on the continent. The Ugandan government has left the digital currency, which is owned by BitPesa of Kenya, largely un-regulated since its entry into the region’s second biggest economy in November, last year. “The legal and regulatory environment is moving towards embracing the technology so as to harness its benefits and to promote innovation. Another concern is how to mitigate any risks in order to protect the public interests, but without stifling innovation,” Maureen Mapp, a teaching fellow at the University of Birmingham Law School who spearheaded the event, told CoinDesk.

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