Umeme Holdings Limited (UHL), the majority shareholder in Umeme Limited on 6th May 2014 announced that it is selling a substantial part of its 60.1 percent stake. A number of foreign firms have expressed interest in buying shares in Uganda’s electricity distributor, Umeme Ltd. This development has come following a majority vote by Uganda Members of Parliament to cancel the UMEME contract on the account of the alleged failure by UMEME to meet the terms of the contract with Government of Uganda However, Umeme Ltd, through its Head of Communications, Mr. Henry Rugamba denies that UHL decision to sell a…
The Uganda Development Bank case is more than conflict of interest
Uganda Development continues to be in the news for all the wrong reasons. The person at the Centre of all this is the CEO, Patricia Ojangole, who joined the bank as Head of Internal Audit department. Patricia is being prosecuted by the IGG on grounds of conflict of interest. Prosecution states that during the recruitment process of the new CEO, Patricia Ojangole, then head of internal audit, influenced the process in her favor to the top position of the bank. She is said to have worked closely with Vincent Kaheru of the recruitment firm, Profiles International. A fact which the…