In a financial sector often driven by balance sheets and bottom lines, Joseph Mugume has spent 25 years proving that sustainable growth begins with people. As Chief Executive Officer of...
As schools across Uganda reopen for the first term of the academic year, dfcu Bank has rolled out a nationwide back-to-school campaign aimed at easing the heavy financial burden that...
If ESG were a person, at Letshego Uganda, he/she would not be seated in a boardroom quoting frameworks. It would be on the road, on the phone, and occasionally on…
Eri Ssebowa is a seasoned finance and accounting professional with over nine years of progressive experience in strategic financial management, business partnering, financial reporting, and performance management across the banking,…
Following a reputational and financially bruising fraud scandal — in which the brewer estimates to have lost about UGX 9 billion — and the subsequent exit of its Heads of…
The Safaricom Plc Board has announced the appointment of investment banker John Ngumi as a director and Chairman of the Board with effect from 1st August 2022. The telco’s top management stated that John’s appointment is subject to regulatory approval. Safaricom’s incoming Board Director, John Ngumi is one of Kenya’s most celebrated bankers. Ngumi takes on the role of Chairman Board of Directors at the giant telecom company with effective from 1st August 2022, replacing Michael Joseph, who has chaired the telco’s board since 2020. Over the course of his 35-year banking career, John has established himself as East Africa’s…
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Standard Chartered PLC (the Group) has registered a record US$1.291 billion dollars income with US$581 million in operating profits in the Africa and Middle East (AME) region. This is contained in the bank’s financial results for the first half of the year ending 30 June 2022. Key performance highlights include: Broad-based growth across markets, segments, and products Income up 8 per cent Y-o-Y on constant currency to USD 1.291 billionOperating Profit USD 581 million up by 28 per cent Y-o-Y on constant currency basisStrong improvement in the region’s Return on Tangible Equity (RoTE) at 13 per centGeographical Highlights – Double digit…
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Uganda’s Small and Medium Enterprises (SMEs) in Uganda are set to benefit as dfcu Bank launches a brand-new product offering aimed at giving them an opportunity to enjoy banking while operating an account that speaks to their business needs at their convenience. Under the ‘Sukuma Business ne dfcu’ offering, the bank is calling upon SMEs in all regions – Central, Metro, East, West and Northern Uganda – to open Personal Current and Enterprise Current Accounts and reap immense benefits such as no Charges on UGX Deposits, dedicated Business Bankers, reduced fees on monthly and transfer charges, access to friendly and…
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Bank of Africa Tanzania Limited, a subsidiary of BMCE Bank of Africa Group, has appointed management consultant, Conrad Nkutu to its Board of Directors. Conrad was appointed in May 2022. Headquartered in Casablanca, Morocco and operating in 18 countries across 4 continents (Africa, Europe, North America, Middle East, Asia), BMCE Bank of Africa had USD34.5 billion in assets and a net profit of USD285 million as of December 2021. Conrad is a Ugandan management consultant and business leader and Director at Strategos Consult Ltd, a business growth, risk management and loss-to-profit turnaround consulting firm. He is also a director…
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Uganda Breweries Limited – UBL has been crowned the Employer of the Year 2022 by the prestigious Federation of Uganda Employers (FUE) during an awards ceremony held at the Kampala Serena Hotel on Thursday. This is the second time within one year that Uganda Breweries has been recognized as the best work place in the country following the honoring they received at the Prudential Best HR Awards ceremony earlier this year. Commenting on the achievement, Rosemary Nakuya, the Ag Human Resource Director said “as a business that has championed inclusion and diversity, individual employee development and team building over the…
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The United Bank for Africa (UBA), Africa’s global bank has extended its operations to the United Arab Emirates (UAE) with the official launch of its new branch at the Dubai International Financial Centre (DIFC). The bank which has been in operation for over seven decades is today in 20 African countries, the United Kingdom, the United States of America and France. United Bank for Africa Plc (DIFC Branch) will operate under the Category 4 license and will be regulated by the Dubai Financial Services Authority (DFSA), the financial regulatory agency of the special economic zone, the Dubai International Financial Centre….
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Centenary Group, owners Uganda’s oldest and largest indigenous financial entity, Centenary Bank, received incredible appeals from over 200 business leaders at the ongoing South Sudan – Uganda Business Forum to extend Centenary Group services to South Sudan. Fabian Kasi – Managing Director; Centenary Bank and Brenda Magoba – Company Secretary & General Counsel; Centenary Group made presentations that spurred feedback from the business leaders. One of the participants remarked, ‘I want to commend Centenary Bank for the fact that we don’t hear that you’ve taken customer property. Thank you Centenary Group, you’re really are in it for the people. We…
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ICEA LION Life Assurance Company (U) Ltd has unveiled the ICEA Annuity Plan for retirees and those nearing retirement. The ICEA Annuity plan guarantees the holder a regular stream of income for life after retirement. The ICEA Annuity plan allows the holder to make a lump sum deposit with the promise of guaranteed regular payments for the rest of one’s life. “Typically, retirement benefits are provided through lump-sum payouts by retirement benefit schemes like NSSF and others. It’s commonplace to find retirees unable to sustain themselves because they invested in ventures that cannot guarantee a regular income during retirement. This…
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Centenary Group, that owns Uganda’s oldest and largest indigenous financial entity, Centenary Bank, will participate in the South-Sudan Uganda Business forum, that starts 19th July 2022 in Juba, the capital city of South Sudan. Centenary Group owns Centenary Rural Development Bank; the bank with the largest customer base in Uganda serving over 2.5 million customers with an asset base of UGX5 Trillion, approximately USD. 1.3Billion. Centenary Bank has also has 12,000 SACCOS and over 46,000 Village Saving & Lending Associations (VSLA) based in rural areas. The bank has an extensive branch network of 80 branches covering all regions of Uganda…
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The Police at Kisoro police station is holding a man that was caught pretending to be an Airtel sales representative. Ivan Tumwijukye, a resident of Kabale, was intercepted after visiting several agents and stealing over 2.4M. The incident happened Friday afternoon (July 15) when Tumwijukye who was wearing an Airtel t-shirt visited several agents inquiring about their easy load phones claiming that he wanted to update the information on easy load and airtel money. A few of the agents he visited who were not familiar with his face made calls to the Distribution Manager for Kisoro cluster asking if he…
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