• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
Advertisement
  • Home
  • News
    • National
    • Politics
    • World News
    • Africa News
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
    • Travel
  • Entertainment
    • Lifestyle
    • Showbiz
      • Salon Mag
  • People
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Africa News
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
    • Travel
  • Entertainment
    • Lifestyle
    • Showbiz
      • Salon Mag
  • People
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
No Result
View All Result
Watchdog Uganda
No Result
View All Result

BEN SSEBUGUZI: BoU vindictive battle against Ruparelia group unhealthy for Uganda economy

watchdog by watchdog
3 years ago
in Conversations with, Op-Ed
3 0
ShareTweetSendShare

One of the online news, CEO magazine carried a big headline: “BoU purported liquidation of Crane bank is illegal,” read the heading. This is not the first time Bank of Uganda (BoU) is seen battling the Ugandan investors. There are a number of other cases including, HCCS 493/2017 and civil appeal 252/19 both filed by BoU to influence the illegal liquidation of defunct Crane bank which is an asset of Ruparelia group. It seems like BoU officials are disguising under the Financial Institutions Act 2004 to abuse their offices and torment local investors. This vice cannot be left to flourish by the youths of Uganda yet we always look up to investors to get employment.

After President Museveni took over power in 1986, among other things instituted The Departed Asians Property Custodian Board (DAPCB) with the purpose of returning stolen Asian properties by late President Amin in 1972, this portrayed to the investors around the world that we respect and protect the rights of investors. This has earned as a good reputation as we have seen an influx of many investors in Uganda of which is a good achievement which needs to be guarded.

According to what is happening currently at BoU is more likely to run down the drain the achievements of this country.

Even despite other Accountability bodies including, The Auditor General and COSASE faulting their actions, they have gone ahead to prove to the whole world that they are above the law.An act which is likely to taint our good policy towards investors.

One of the significant challenges of our country is unemployment. According to AfDB report 2014, out of the unemployed people in Uganda, 83% are youths, which calls for urgent attention by government agencies like BoU to work towards reducing unemployment. To the contrary, the aforesaid is seen to be acting in bad faith.As young people; we get concerned when we see bad people with selfish interest use their powers to torment investors who are our lifeline hence taking away their precious time to think and establish other projects to employ more Ugandans.

In a nutshell, BoU is washing and drying it’s linen in sand. We, therefore, plead with the line minister of finance to continue to remove the bad apples in BoU in order to save the situation before the tax payers money is put to waste.

Ben Ssebuguzi is a budding economist and Secretary General of Uganda poor youth movement.


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com

Share1Tweet1SendShare

Related Posts

Wilfred Arinda Nsheeka
Conversations with

OP-ED: Beti Kamya’s Abdication: A Betrayal of Trust and a Call for Honorable Resignation

8th June 2023 at 12:20
Museveni speaks out on Komamboga explosion. Calls it terrorist act
Politics

You Are Prison Candidates! Museveni Sends Direct Alert Message to Greedy PDM Bosses

8th June 2023 at 01:16
Finance

PRESIDENTIAL ADDRESS: Museveni Announces Game plan to Reduce Debt Burden, Increase Tax Revenue 

8th June 2023 at 01:01
Next Post
Maureen Kyalya and Speaker Kadaga

Former Presidential candidate Kyalya accuses Speaker Kadaga of 'Killing' MP Watongola ,demands her resignation or else she will die too

Popular Stories

  • Hajjat Kuluthum, Acram and Bad Black

    ALDRINE NSUBUGA SNR: Why Kuluthum and her husband Acram will end up as pitiful losers in their battle against Bad Black

    29 shares
    Share 12 Tweet 7
  • Amb. FRANCIS NKUUSA: Museveni Says Goodbye, Muhoozi’s Veiled Endorsement! Kyankwanzi Retreate Through The Lenses of The Wise Man

    29 shares
    Share 12 Tweet 7
  • “We have already arrested Gulu and Kitgum officials who misappropriated PDM funds” – Brig Gen Isoke tells NRM Parliamentary Caucus

    22 shares
    Share 9 Tweet 6
  • OFWONO OPONDO: Kyankwanzi NRM MPs retreat: Avoiding the poisoned chalice

    20 shares
    Share 8 Tweet 5
  • Inside the NRM Parliamentary Caucus resolutions at Kyankwanzi

    20 shares
    Share 8 Tweet 5
Facebook Twitter

Contact Information

Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

Plot 23, Yusuf Lule Road
PO Box 7661 Kampala, Uganda
Office Line: +256 777 286 815
Email: editorial@watchdoguganda.com
To Advertise:Click here

Follow Us on Twitter

Tweets by watchdogug

Follow Us on Facebook

© 2023 Watchdog Uganda

No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Africa News
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
    • Travel
  • Entertainment
    • Lifestyle
    • Showbiz
      • Salon Mag
  • People
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate

© 2023 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In