For years, Uganda’s digital lending sector has expanded at breathtaking speed, but without the underlying visibility required to support responsible growth. Borrowers have increasingly turned to mobile money as their...
There are years when an industry grows quietly, and then there are years when it changes character. For Uganda’s insurance industry, 2025 was unmistakably a change of character. Viewed from…
Paul Kavuma, the former Chief Executive Officer of Jubilee Allianz General Insurance Uganda, has announced his move to Liberty Uganda, where he takes up the role of Country Head of…
This festive season, Pearl Bank (formerly PostBank Uganda) reminded customers that banking can still feel human, warm, and personal, as it concluded its Christmas campaign dubbed “Pearl Santa.” The campaign…
Old Mutual Insurance Uganda, Uganda’s No.1 general insurer, has announced that its Managing Director and Chief Executive Officer, Stephen Chikovore, will step down from his role effective 31 January 2026.…
Kareem Ghaly has been appointed as the Head of the Middle East and North Africa (MENA) region at Alta Semper Capital LLP, with operations based in Cairo, Egypt. Bringing with him over 14 years of substantial experience in investment and advisory services, Kareem has a proven track record of successfully executing transactions exceeding US$ 7bn in both Egypt and the bigger MENA region. Before joining Alta Semper, Kareem worked at the British International Investment (BII), the United Kingdom’s development finance arm. During his tenure at BII, he established a huge on-ground presence in Egypt, driving activity across multiple sectors and…
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Ugandan singer and songwriter Alexander Bagonza, popularly known as A Pass, is set to hold his maiden concert on January 31, 2025, at the Kampala Serena. The event, dubbed “A Pass Live in Concert,” was announced at a press briefing, held on Thursday, January 16, at the Kampala Serena Hotel. The concert launch, hosted by media personality Douglas Lwanga, was graced by fellow artists, performers, sponsor representatives, and the media. Singers Elijah Kitaka, Beenie Gunter, Gloria Buggie, Bruno K, Ruyonga, and dancer Ritah Dancehall, graced the presser in show of solidarity. With I&M Bank Uganda as the official banking partner,…
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Cooper Motors Corporation (CMC) Holdings, the parent company of CMC (Uganda) Limited has announced its decision to gradually wind down operations in Uganda, Kenya and Tanzania, in full compliance with local regulations and distributorship agreements. Cooper Motors was acquired by the Al-Futtaim Group in 2014 and has other trading subsidiaries owned by CMC Holdings Ltd including: CMC Motors Group Limited (Kenya) Ltd. Hughes Motors (Tanzania) Ltd, Kenya Vehicle Manufacturers Ltd (33% Shareholding). The motor company was a leading player in the East African motor industry with exclusive distribution of New Holland tractors with an extensive range of farming implements from…
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By Kenneth Kawuki The evolution of the procurement function from a peripheral role to a more strategic one is helping unlock its full value in companies and organizations. It is key to note that the procurement function in companies accounts for about 60% of the approved organizational budgets. Previously, the procurement function primarily revolved around negotiating the lowest price for goods and services. This process often began with budgeting and planning, an order from a department to source specific items and ended with the delivery of the goods or service. In between, there were bid invitations, bid assessments, and eventual communication of…
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The insurance sector in Africa, particularly in Uganda, presents a remarkable opportunity for growth and innovation. With a penetration rate of only 0.85% in Uganda and under 3% across the continent, the market is vastly underdeveloped compared to global averages, where insurance penetration typically hovers around 7%. As of 2023, the African insurance market is valued at approximately $87.4 billion, projected to reach $153.9 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.3% during this period. This stark contrast highlights the sector’s immense potential for expansion and innovation. Several factors drive this optimism, including a growing population…
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The Uganda Electricity Transmission Company (UETCL) has been ranked as the most profitable public company with a profit of UGX 82.3 billion earned through energy sales in the Financial Year (FY) ending June, 2024. UETCL was closely followed by Uganda Electricity Generation Company (UEGCL) at 54.2 billion and Uganda Civil Aviation Authority at UGX 32 billion. The three top public corporations raked in a combined UGX 168 billion in annual profits outperforming other 17 sister corporations and state enterprises, according to details from the latest Auditor General’s report. However, UETCL’s profitability decreased by 13 percent from UGX 94 billion in…
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Airtel Uganda has a new boss, Soumendra Sahu. He joins Uganda’s second-largest telco at an interesting time— increasing competition from MTN, the market share leader, and other independent ISPs. There are also unmet shareholder growth expectations promised during the telco IPO. The new boss must invest more in the network to boost 5G adoption, expand smartphone penetration, address operational costs, and counter Starlink’s looming entry. Airtel must innovate to maintain its edge in data revenue and tackle a shrinking market share, especially in voice services. Additionally, stabilising leadership following key staff exits and managing regulatory and economic pressures will test…
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Rwandan President Paul Kagame has tapped Jean-Guy Afrika, a fellow Rwandan seasoned economist who spent over a decade at the African Development Bank, to lead the Rwanda Development Board (RDB) as the new Chief Executive Officer. RDB is a government institution, under the supervision of the Office of the President, mandated to accelerate Rwanda’s economic development by enabling private sector growth. Before his appointment as new CEO of RDB, Jean-Guy worked as the Director of the Regional Integration Coordination Office at the African Development Bank Group, with a special advisory role to the senior management on regional integration and resource…
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The Uganda Parliament Speaker, Anita Among has forwarded the Auditor General’s forensic audit report on the alleged loss of over UGX 60 billion from Bank of Uganda (BoU) to the Uganda Police Directorate of Criminal Investigations (CID) for further investigations. Speaker Anita Among sent the report to the CID after it was laid before Parliament by the Government Chief Whip, Hon. Denis Hamison Obua on Thursday, 09 January 2025. The Speaker noted that she held consultations with President Yoweri Museveni and a decision was taken to have the report investigated further. “Looking at the ingredients of the report, they are…
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Many analysts agree that the Ugandan economy in 2024 exhibited remarkable resilience, navigating a landscape fraught with global uncertainties and regional challenges. At the centre of this performance was Dr Michael Atingi-Ego, Deputy Governor of the Bank of Uganda (BoU). In his end-of-year reflections, Dr. Atingi-Ego highlighted the pivotal actions underpinning this economic stability, crediting a mix of strategic monetary policies and innovative reforms. Here are ten standout actions he led to stabilise the economy: 1. Stabilizing Inflation Uganda maintained one of Africa’s lowest and most stable inflation rates in 2024. The BoU raised the Central Bank Rate (CBR) from…
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