The embattled dfcu bank has come out to dismiss claims that it has commenced closure of 22 branches countrywide which it has termed as fake news. On Sunday, the bank issued a statement and requested the public to ignore what it refers to as non-factual stories doing the rounds on social media, that the closure starts on October 14. “The Bank wishes to clarify that the purported notice in respect to branch closures is false and did not originate from dfcu Bank,” the notice reads in part. The clarification notice further explains that during the bank’s annual general meeting in June,…
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Bank of Uganda has awarded licenses to 2 new Commercial banks. The banks, Afriland First bank Uganda Limited and Opportunity Bank Uganda limited have been given licenses to start operations effective September 12th and 13th respectively. This makes the total number of commercial banks in Uganda, 26. Afriland First bank is a new institution in Uganda’s banking sector. The bank was founded in Cameroon in 1987 and is the biggest financial services group in that country. Opportunity Bank started as a Tier 3 Banking institution called Faulu. Back in 2009, the company carried out a rebranding campaign after selling shares…
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Team Uganda comprising of 18 tour operators led by Uganda Tourism Board (UTB) is set to showcase Uganda’ tourism offerings at the 8th edition of the Magical Kenya Travel Expo (MKTE) to be held from the 2nd -4th October 2019, at Kenyatta International Convention Centre (KICC) in Na irobi, Kenya. The annual expo will attract over 170 exhibitors and 180 hosted buyers registered from 20 countries around the World; offering an attractive platform for Uganda to showcase. Uganda will this year showcase Adventure, Golf Tourism and Nightlife under the theme; “Uganda: The adventure capital of East Africa.” Commenting Uganda’s participation,…
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“The National Standardisation Strategy will improve the competitiveness of Uganda products and services thus promoting Buy Uganda Build Uganda policy and improving access to regional and international markets.” The Uganda National Bureau of Standards (UNBS), has launched the first National Standardisation Strategy (2019 -2022) as a roadmap for developing standards in key priority sectors of the Ugandan economy. The three-year strategy was developed in consultation with several stakeholders and industry experts in Manufacturing, Export Trade, Agribusiness and Consumer Organisations, among others and supported by the Commonwealth Standards Network (CSN). While launching the Strategy at Skyz Hotel in Kampala, the Minister…
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Tropical Bank Limited has unveiled Abdulaziz M.A Mansur as its substantive Managing Director. Dennis Mugagga Kakeeto, the bank’s Executive Director, has been doubling as Managing Director in acting capacity, since October 2018, following the summary sacking of Sameh M. Krekshi, the then Managing Director, who was fired by the board on orders of Bank of Uganda over apparently consistently overdrawing his salary account. Abdulaziz M.A Mansur, who has more than 28 years’ experience in the financial services industry, holds a Master of Business Administration (MBA) in Accounting and Finance from the Yeditepe University in Turkey. For five and a…
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On Wednesday last week, Ugandan President Yoweri Museveni and Paul Kagame of Rwanda signed a peace pact in Angola, signaling an end to the bitter diplomatic relations between Kampala and Kigali that had resulted into the closure of Gatuna border. But what is mind boggling being that up to date, the Gatuna boarder is still […]
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Former Crane Bank Chairman and Vice Chairman appearing before Katuntu’s COSASE early this year. The Crane Bank directors contested the UGX478.8 billion the central bank claims it injected into resuscitating Crane Bank. The Auditor General has todate failed to trace up to UGX270 billion of the UGX478.8 billion. Analysts believe Munyagwa is trying to assist BoU officials to submit the accountability of the UGX270 billion, several months after the probe closed. Two of the major functions of the Parliament of Uganda are: passing laws for the good governance of Uganda and scrutinising government policy and administration through, among others methods,…
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According to today’s Daily Monitor, the Statehouse Anti-Corruption Unit, headed by Lt. Col. Edith Nakalema is probing some members of management and the board of the Inspectorate of Government (IG) for alleged corruption as well as illegal and irregular recruitments. This stems from a whistleblower report from an insider at the IG that also accused the Inspector General of Government…
First things first, let us ask ourselves very simple questions. What is that one word that people use to describe you generally? What is your signature definition? This is because every one of us today is a brand. What do people most remember about you? When you speak to people on phone or in real life, how do you make…
The entrance of Raxio into the Ugandan market to offer Data Centre services for enterprises is timely. The Ugandan market is a take off stage where most enterprises; big and…
