The court was sitting to hear an appeal against a ruling by the high court to the effect that the DTB Kenya, a parent company of Diamond Trust Bank-Uganda, was not registered to do business in Uganda, nor appoint DTB Uganda as an agent to collect debts owed to the Kenyan bank by Kiggundu.
“The procedure for recapitalization is that once the audited accounts for any financial year have been finalized, then the level of capital is determined…whether the capital is impaired or not. Should the capital be impaired and then it is only at such a point when Bank of Uganda requests the Ministry of Finance to present to parliament a request for recapitalization,” said Atingi-Ego.
More than 100 cargo trucks connecting to and from Nimule ply Gulu-Attiak-Nimule Highway each day. However, the road has been in a sorry state for over four years. It is filled with potholes and shattered drainage system almost all the way from Gulu City to Amuru district.
Under the Agri-led Interventions, the government intends to spend 200 Billion Shillings to increase production and productivity, increase agro-processing, increase market access and competitiveness of products as well as strengthen coordination among the different departments.