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…
Bank of Africa-Uganda Ltd. has added BOA Pay to its Mobile Wallet menu. BOA Pay is a payment solution that allows the Bank’s customers to pay for goods and services at partner merchant locations. The digital payment service is enabled for the Mobile Wallet application and USSD on *246*7#. The payment solution aims at promoting cashless transactions, easing payments for customers, and enabling a seamless customer experience, at zero cost to the merchant and to the customer. The Covid-19 pandemic considerably accelerated digital transactional activity in the country. Responding to this trend, the Bank has enhanced its digital offering with…
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The 37-year-old Fund is the largest pension fund in the countries of the East African Community, with assets under management, worth over UGX 15.6 trillion as at the end of 2020/21. In the last 12 years, 11 of which have been under Richard Byarugaba, assets under management have grown 9 times (814%), from UGX1.7 trillion in 2009/10 to UGX15.6 trillion— a CAGR of 20%! Barring any occurrences, if the Fund’s CAGR can be maintained, and factoring in the UGX1 trillion that NSSF is expected to pay out in mid-term withdrawals, NSSF is expected to hit its UGX20 trillion assets target…
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MTN Uganda Limited has announced the re-appointment of PricewaterhouseCoopers (PwC) Certified Public Accountants as the external auditor of the Company for the audit relating to the financial year ending 31 December 2022. The multinational professional services network of firms, which ranks the second-largest professional services network in the world has also been appointed by Stanbic Uganda Holdings Limited as their External Auditors of the Company for the year 2022. Enid Edroma, MTN Uganda, Company Secretary said that the re-appointment of PwC was reached at during the annual general meeting of the held on Friday 27 May 2022 at the Company’s…
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On 6 February, 2022, Her Royal Majesty Queen Elizabeth became the first British Monarch to mark 70 years on the throne in service to the people of the United Kingdom, The Realms and the Commonwealth. Following this momentous anniversary, many around the world have organized parties in the Queen’s honour. And on Tuesday May 31st, Johnnie Walker and Tanqueray, the leading British whisky and gin exports in Uganda, were at the centre of the celebrations hosted by the British High Commission to honour the Queen. An auspicious guest list graced the event, including business captains, diplomats, ambassadors and government representatives,…
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On May 26, Standard Bank claimed the prestigious title of ‘African Bank of the Year’ at the esteemed 2022 African Banker Awards held in Accra, Ghana. The title is a testament to Standard Bank’s quality of service and dedication to the continent as the category was judged not only on business performance, but on an institution’s overall impact in assisting clients navigate the troughs of COVID-19, offering industry-leading technological solutions, supporting traditionally marginalized sectors, fostering opportunities for women empowerment, and bringing value to stakeholders. Sim Tshabalala, Chief Executive of the Standard Bank Group, said: “This honour is for all Standard…
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Company of the week recognition goes to Uganda’s leading Financial Technology and Business Processes Outsourcing (BPO) firm – Service Cops, that recently partnered with Awash Bank, extending the iconic School Suite System and other banking solutions in Ethiopia.The partnership, with Awash, the biggest private Bank in Ethiopia, was signed on April 25, 2022, at the bank’s headquarters, in Addis Abbaba by Mathias Kamugasho and Joseph Kiiza Ndiho, the Service Cops’ Managing Director and Executive Chairman respectively, as well as Tsehay Shiferaw, the Awash Bank Chief Executive Officer and Yohannes Merga, the bank’s Chief Information Officer.The partnership will see Service Cops…
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Bank of Uganda (BoU) has officially approved Afriland First bank Uganda Limited’s request for voluntary closure. The central bank and banking sector regulator in exercise of it’s powers under section 98 (1) of the Financial Institutions Act, 2004 (as amended), on Wednesday 25th May 2022, approved a request from Afriland First Bank Uganda Limited, to apply to the High Court for Voluntary Liquidation. A notice to the public written and signed off by Bank of Uganda’s Deputy Governor, Michael Atingi Ego states that: “Afriland First Bank Uganda Limited’s decision for Voluntary Liquidation was an outcome of a strategic business review…
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The Ministries of Finance, Planning and Economic Development MOFPED) and Energy and Minerals Development (MEMD), have appointed Mr. Kwame Ejalu Ejuku, a renowned insurance and pensions expert as the new Board Chairman of the Uganda Electricity Transmission Company Limited (UETCL) UETCL is a government parastatal that owns and runs Uganda’s high voltage transmission network (above 33kV). Ejalu is a Ugandan entrepreneur and businessman in the non-banking financial sector, with extensive knowledge, and experience, especially in the insurance and pensions sectors in Uganda and the East African region. He is the Chairman and Founder of Kent Group, a diversified investment firm….
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Service Cops, one of Uganda’s leading Financial Technology and Business Processes Outsourcing (BPO) firms has entered into a partnership with Awash Bank, to support the bank’s digital strategy.The partnership, with Awash, the biggest private Bank in Ethiopia, was signed on April 25, 2022, at the bank’s headquarters, in Addis Abbaba by Mathias Kamugasho and Joseph Kiiza Ndiho, the Service Cops’ Managing Director and Executive Chairman respectively, as well as Tsehay Shiferaw, the Awash Bank Chief Executive Officer and Yohannes Merga, the bank’s Chief Information Officer.The partnership will see Service Cops providing a variety of its digital/technology solutions ranging from Edutech…
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Kenyan banking giant KCB Group, has appointed Paul Russo as its new chief executive officer. Russo will succeed Joshua Oigara, who has served as the bank’s topmost leader since 2013. The outgoing CEO at KCB, Joshua Oigara is scheduled to exit his office this week. The incoming KCB bank boss, Russo is a seasoned human resources manager and HR expert, who currently leads a KCB subsidiary National Bank of Kenya (NBK). Russo served as group head of human resources at KCB before being appointed to run NBK in 2019 after it was acquired by KCB. He previously worked at Barclays and…
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