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.…
In October 2022, CEO East Africa broke the story of how one of Africa’s wealthiest families, the Oppenheimers, had acquired a majority 75% stake in Uganda’s third largest soft drinks manufacturer, Harris International, through their investment vehicle Oppenheimer Partners. Harris International was founded in 2005 and is one of Uganda’s leading food and beverage companies. It is a proudly Ugandan company popularly known by its flagship brand, RIHAM. Since its inception in 2005, the company has evolved and expanded its portfolio to more than 50 healthy, refreshing and enjoyable products such as Carbonated Soft Drinks, Natural Mineral Water, Fruit Juices,…
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Uganda is set to host the 8th edition of the East Africa Venture Capital Association (EAVCA) Annual Private Capital Conference on the 13th of June 2024 at Speke Resort Convention Centre in Munyonyo. “As we embark on the journey of defining the next era of East Africa’s investment landscape, the East African private capital landscape stands out as a beacon of resilience and opportunity. In the face of unprecedented global challenges, East Africa has demonstrated its ability to adapt and thrive, emerging as an increasingly attractive investment destination for private capital,” says a statement on the conference’s website. The theme…
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The Capital Markets Authority (CMA) of Rwanda has welcomed seasoned Botswana financial markets guru, Thapelo Tsheole, as its new Chief Executive Officer (CEO) replacing Eric Bundugu who has been acting at the helm of CMA from 2018 since the exit of Robert Mathu in 2017. Mr Thapelo was appointed CEO a month ago, and he subsequently resigned his role as the head of the Botswana Stock Exchange, but had to wait a month to take up his new role. His departure from the Botswana Strock Exchange saw him lose his seat as the president of African Securities Exchanges Association (ASEA)…
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Uganda’s banking industry in 2023 continued growing across all fundamentals such as deposits, lending, income as well as assets. It however grew slower than it did in 2022. Total industry deposits grew by UGX2.4 trillion, from UGX31.6 trillion to UGX34 trillion⏤a growth of 7.6%. This was however a slower growth, compared to a 12% rise in 2022, when the industry grew from UGX27 trillion to UGX28.2 trillion. Total lending grew by 7.5% from UGX19.1 trillion in 2022 to UGX20.5 trillion in 2023, a growth of UGX1.4 trillion. Although nominally, industry lending in 2023 grew more than it did in the…
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Before retreating to Zambia, Cornwell Muleya was a soft spoken executive with grand ambitions for Uganda Airlines after his appointment as an Acting Chief Executive Officer in 2019. He wasn’t a newcomer in the aviation industry having demonstrated similar experience working with airlines elsewhere across the continent. He had survived Covid -19 which paralyzed air travel, but couldn’t survive the office politics and its attendant consequences at Uganda Airlines. He left Uganda at the tail end of 2022. The Chemical Engineer and certified accountant is now at the lead of Zambia’s Industrial Development Corporation (IDC), the country’s investment holding company tasked…
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Godfrey Sebaana, the incoming Chief Executive Officer of Diamond Trust Bank Uganda (DTBU) has committed to building on the foundation left by his predecessor, Varghese Thambi to create an even more enhanced, reliable and always-on customer experience. Speaking at a dinner hosted by the bank on May 21st 2024 to bid farewell to Thambi who has been the bank’s Chief Executive for the last 17 years, since July 2007, Mr. Sebaana said that he has already received board approvals for the planned enhancements, so customers should expect more customised products and services and a service experience that seeks to “break…
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dfcu Limited is celebrating 60 years of operation and impactful service towards fulfilling its purpose of ‘Transforming Lives and Businesses in Uganda’. dfcu was established in 1964 as a development finance institution and since then, has contributed to national socio-economic transformation, growing together with Uganda since her independence. Serving as an international commercial bank with a deep-rooted commitment to Uganda over the past six decades, the Bank has played a pivotal role in financing the establishment and growth of local businesses and supporting the country’s economic growth and development. With a bank network of 54 branches spread across Uganda and…
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Britam Uganda is set to transform the insurance and financial services landscape with the introduction of “My Britam,” a suite of self-service portals. The initiative was launched this week under the campaign titled ‘Take Control,’ which is designed to empower clients and partners to manage their insurance and investments independently and efficiently. Britam’s insurance portals empowers clients and its partners to take control of their travel plans by allowing them to purchase insurance, manage policies, file claims, and receive instant feedback—all through a centralized online platform. This is the first phase of a broader rollout that will soon include Motor…
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Mr. Mike Ogbalu III, Chief Executive Officer of the Pan African Payment and Settlement System has revealed that the payment system is making rapid progress and is fully operational in thirteen African Central Banks, and is connected to over 115 commercial banks, including ten payment switches across Africa. Another 115 commercial banks are in the pipeline for connection. “The time has come for action and acceleration. It is time to use the system to drive trade in Africa, for Africans, by Africans. We urge all banks to join us in our collective effort to promote intra-African trade and development through…
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Absa Group has marked a historic milestone with the official launch of a non-banking subsidiary in the People’s Republic of China, fortifying the vital economic bridge between Africa and China. The Absa office in China will operate under a wholly foreign-owned enterprise license which permits the financial institution to provide general advisory services to clients based in China for concluding transactions across the African continent, as a non-banking subsidiary of Absa Group Limited. The office will also distribute economic or general securities research reports permitted by Chinese regulation to corporate and institutional clients in China and across the African markets. …
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