FAM Media Co

11/07/2025

FAMReports News Desk | July 9, 2025

The Uganda Revenue Authority (URA) has recorded a significant milestone in national tax performance, exceeding its revenue collection target for the financial year 2024/25 with a surplus of UGX 262.43 billion. The announcement was made by the Commissioner General, John Musinguzi Rujoki, during the release of the year-end revenue performance report.

The Uganda Revenue Authority (URA) has recorded a significant milestone in national tax performance, exceeding its revenue collection target for the financial year 2024/25 with a surplus of UGX 262.43 billion.

23/06/2025

09/06/2025

FAMReports News Desk

The World Bank has lifted its two year suspension on new loans to Uganda signaling a tacit admission that the earlier freeze triggered by the country’s Anti Homos*xuality Act was both reactionary and impractical.

The decision to cut off Uganda’s access to development funds in 2023 was widely viewed by many African observers as a politically motivated overreach.

At the time the World Bank cited the passage of Uganda’s Anti LGBTQ legislation which imposes stiff penalties for same s*x relations as the sole reason for halting financing However critics argue that the Bank’s move was less about logical policy alignment and more about yielding to ideological pressure from donor lobbies in the Global North.

Now with billions in vital infrastructure and social investment projects hanging in the balance the World Bank appears to have reassessed its stance The institution says it has worked with the Ugandan government and other stakeholders to implement mitigation measures ensuring no discrimination occurs within its supported programs.

“The World Bank cannot deliver on its mission to end poverty and boost shared prosperity on a liveable planet unless all people can participate in and benefit from the projects we finance,” a spokesperson said Thursday via AFP. The statement came alongside news that new funding in sectors like education social protection and refugee support had been approved.

09/06/2025

In a bold and unprecedented move that could reshape the landscape of motorsport on the African continent, Rwanda has officially launched a 1.2 billion dollar megaproject aimed at bringing Formula 1 racing back to Africa. If successful, Rwanda will become the first sub Saharan African nation to host a modern Grand Prix, marking Formula 1’s return to the continent for the first time in over 30 years.

The announcement was made during the FIA General Assembly held in Kigali where Rwanda’s President Paul Kagame introduced the project as a strategic step toward economic growth, national branding, and international relevance.

Rwanda’s 1.2 Billion Dollar F1 Bid Signals Africa’s Motorsport Renaissance. Rwanda to Make History with Africa’s First F1 Grand Prix Since 1993

09/06/2025

FAMReports Opportunity Desk

Applications are officially open for the Africa Deep Tech Challenge 2025, an ambitious initiative designed to spotlight and support the continent’s most creative builders—those who can deliver high-impact tech solutions in environments with limited resources. The challenge, which runs until the application deadline of July 31, 2025, is powered by Future Africa in partnership with Ilorin Tech Hub, CcHub, and IHS.

The Africa Deep Tech Challenge 2025, an ambitious initiative designed to spotlight and support the continent’s most creative builder

09/06/2025

FAMReports News Desk

The Bank of Uganda (BoU) has renewed its call for commercial banks to align with the revised capital and regulatory requirements as part of a broader agenda to fortify the country’s financial system. This comes as NCBA Bank Uganda officially unveiled its new head office at Twed Towers in Kampala.

The Bank of Uganda (BoU) has renewed its call for commercial banks to align with the revised capital and regulatory requirements as part of a broader agenda to fortify the country's financial system.

09/06/2025

By Edrisa Ssentongo | FAMReports News Desk

KAMPALA — Capital One Group has successfully hosted the 2025 ESG Summit, a landmark event that convened Uganda’s top leaders in sustainability, governance, and business innovation. Held under the theme “Driving Sustainable Growth Through ESG Integration,” the summit served as a platform for dynamic engagement, masterclasses, and the sharing of hands-on best practices in Environmental, Social, and Governance (ESG) principles.

Capital One Group has successfully hosted the 2025 ESG Summit, a landmark event that convened Uganda’s top leaders in sustainability

09/06/2025

FAMReports Opportunity Desk

The 2025 edition of the Llama Impact Accelerator Program has officially opened its application window, inviting visionary African startups to apply for a transformative opportunity to build and scale artificial intelligence (AI)-driven solutions. Spearheaded by Meta and targeting regional innovation ecosystems, this accelerator seeks to empower entrepreneurs developing local solutions using the Llama suite of large language models (LLMs).

Llama Impact Accelerator 2025: Up to $25,000 in Equity-Free Funding for African Startups Using AI

09/06/2025

FAMReports News Desk – Mogadishu, Somalia

The security situation in Somalia took a grave turn on Tuesday as the Al-Shabaab militant group claimed responsibility for shooting down a Burundian African Union (AU) helicopter during what was reported as an evacuation mission from the embattled town of Hawadley. The aircraft incident, confirmed by the African Union Transition Mission in Somalia (ATMIS), comes amid the insurgents’ continued territorial gains and signals a troubling escalation near the nation’s capital, Mogadishu.

The security situation in Somalia took a grave turn on Tuesday as the Al-Shabaab militant group claimed responsibility for shooting.

09/06/2025

FAMReports Sports Desk

After more than three decades off the Formula 1 calendar, Africa is poised to make a dramatic return to the pinnacle of global motorsport. Morocco has unveiled an audacious $1.2 billion project in the coastal city of Tangier, aimed at reclaiming the continent’s place in the F1 spotlight. The development, which includes a state-of-the-art racetrack and an entire tourism ecosystem, is expected to be completed by 2027—reviving Africa’s long-dormant relationship with one of the world’s most prestigious sporting events.

Morocco Spearheads Africa’s Grand Return to Formula 1 with $1.2 Billion Tangier Megaproject

09/06/2025

The Uganda National Oil Company (UNOC) has confirmed that the country is experiencing temporary disruptions in the supply of petroleum products, resulting in noticeable increases in fuel prices, particularly petrol, at the pump.

According to an official statement issued by UNOC, the supply chain interruption has largely been driven by logistical delays in the delivery of petroleum products through the Kenyan route during the month of May 2025. These logistical bottlenecks have put pressure on the domestic fuel supply, triggering a sharp spike in prices.

As of early June, the average price of petrol in Kampala has climbed to approximately UGX 5,000 per litre, up from UGX 4,700 recorded in December 2024. This marks a significant increase that has stirred concern among motorists and transport operators across the country.

UNOC, which is mandated to manage the Government of Uganda’s commercial interests in the petroleum sector, moved swiftly to implement contingency measures aimed at ensuring the continuity of supply. Among these interventions was the importation of 35 million litres of petroleum products via the Tanzanian route.

The Uganda National Oil Company (UNOC) has confirmed that the country is experiencing temporary disruptions in the supply.

09/06/2025

KAMPALA, Uganda — June 5, 2025 | FAMReports News Desk

In a detailed and forward-looking State of the Nation Address (SONA) at Kololo Ceremonial Grounds, President Yoweri Kaguta Museveni unveiled a transformative vision aimed at propelling Uganda to middle-income status by 2030. Central to this vision is the official launch of the Fourth National Development Plan (NDP IV), which sets out Uganda’s development priorities over the next five years.

The plan lays emphasis on sustainable industrialization, job creation, value addition, and improved human capital development. With ambitious economic projections and infrastructure commitments, Museveni reaffirmed his government’s commitment to building a resilient, inclusive, and self-sustaining Ugandan economy.

In a detailed and forward-looking State of the Nation Address (SONA) at Kololo Ceremonial Grounds, President Yoweri Kaguta Museveni.