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…
Centenary Group has congratulated its subsidiary, Centenary Bank, upon posting excellent performance results. Despite a challenging operating environment, the bank leveraged on technology, people and good relationships, to deliver good performance. The Bank remained profitable, and in line with its mission, seeing that profits are not a standalone, financed enterprises and individuals in the real economy, which fosters a productive and sustainable economy. Centenary Bank’s deposits grew by 1.4% from UGX 3.137 trillion in 2020 to UGX3.181 trillion in 2021 together with a growing loan book, helped to bolster the bank’s earnings, allowing it to set new record highs, on…
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Centenary Group’s technology services company – Cente-Tech has announced the appointment of Rowena Turinawe as Head – ICT Advisory, Strategy and Research. Rowena joins Cente-Tech from the National Information Technology Authority Uganda (NITA-U) where she has been serving in a senior management role as Business Transformation Manager. At NITA-U, she provided oversight and support for the establishment of the e-Government Enterprise Architecture, development of the NITA-U Strategic Plan and e-Government capacity building across Government of Uganda. She was responsible for realigning the way NITA-U operates including reengineering internal processes and how technology is used. Whilst there, she implemented the ICT…
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Japhet Aritho, previously the Senior Vice President at Airtel Money Group has been appointed as the Airtel Mobile Commerce Uganda Limited Chief Executive Officer, CEO East Africa Magazine can exclusively reveal. In his previous Senior VP role, he was overseeing the Airtel Money business operations in Africa. Airtel Mobile Commerce Uganda Limited is the second biggest mobile money service provider, in Uganda. The company was spun off Airtel Uganda in June 2021, following the enactment of the National Payment Systems (NPS) Act, 2020, on 4th September 2020. The company was in May 2021 one of two first licensees for the…
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Every year, the National Intellectual Property Office, Uganda Registration Services Bureau (URSB) joins the rest of the world to celebrate the World Intellectual Property day on April 26. The global theme this year by the World Intellectual Property Organisation (WIPO) is “IP AND YOUTH: Innovation for a Better Future”. The sub-theme for Uganda is “Using the IP system to achieve youth employment in Uganda”. URSBcommemorated the celebrationsat the Protea Hotel in Kampala. As part of the activities, URSB held a hybrid workshop where a panel of experts explored how the youth can utilize the Intellectual Property system to create employment,…
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Finance Trust Bank, has today released its 2021 financial performance results, reporting yet another year of strong growth. According to the results, the bank, despite a challenging 2021, registered double-digit growth in most of its business fundamentals. As a result, the bank set new record highs in its 9-year history since it was granted a commercial banking license in 2013. Net profit after tax grew by 57% from UGX5.8 billion in 2020 to UGX 9.16 billion in 2021— the highest ever. This was on the back of equally strong growth in total income— by 23%, from UGX75.2 billion to UGX92.6…
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Fitch, the international credit rating agency has affirmed Stanbic Bank Uganda Limited’s (SBU) Long-Term Issuer Default Rating (IDR) at ‘B+’ while it also maintains its ‘AAA’ rating in Uganda. According to Fitch, SBU’s National Ratings reflect its creditworthiness relative to other issuers in Uganda. SBU’s ‘AAA (uga)’ National Long-Term Rating is the highest possible on Uganda’s national scale and considers potential support available from Standard Bank Group. SBU’s Long-Term IDR is one notch below that of SBG, reflecting SBU’s strategically important role in the group’s regional operations. SBU is Uganda’s largest bank accounting for 22% of banking sector assets as…
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Ecobank Group has announced unaudited first quarter of 2022 profit before tax increase of 25% to $125 million. Ade Ayeyemi, Group CEO said “We delivered strong 1Q 2022 results with profit before tax increasing by 25% to $125 million, diluted earnings per share up 29% to 0.27 US cents and net revenue growth of 7% to $436 million. Returns on tangible shareholders’ equity of 18.9% was a record compared to 15.7% a year ago.” According to him, they have achieved these results in a difficult operating environment characterised by the strengthening of the US dollar against their operating currencies, high…
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Margaret Kigozi Namulindwa has been appointed as the Head of Corporate Affairs, Brand and Marketing, Standard Chartered Bank Uganda. Margaret joins Standard Chartered Bank from Coca-Cola South & East African Business Unit where she held several roles including, Head of Marketing for Uganda, Ethiopia & HORN Markets and most recently, Category Lead for the Flavor Brands in over 13 markets in Sub-Saharan Africa. Margaret possesses proficiency in developing Brand Strategies, connecting with consumers through relevant communication and execution of successful Marketing campaigns gained through 19 years of Marketing experience while working for both Coca-Cola and Unilever. Margaret holds a Bachelors degree in Development…
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Patricia Kadama Anguzu has been appointed Regional People Lead (East African Hub) at Wave mobile Money with effect from April 26, 2022. Wave mobile Money is a financial institution on a mission to make Africa the first cashless continent. It is intended to solve challenges of lack of access to affordable ways to save, transfer or borrow the money needed to build businesses or provide for families by using technology to build a radically inclusive and extremely affordable financial network. Patricia has since 2007 worked with Nile Breweries Limited – NBL in several capacities including; Country People Lead, Human Resource…
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Leading Pan-African Payments Company Cellulant and it’s all-in-one Payments gateway Tingg have won 4 awards in the just-concluded World Business Outlook Awards. The awards were in the categories of: Leading Digital Payment Platform Africa 2022 (Cellulant);Best FinTech Digital Payment Solutions Provider Africa 2022 (Cellulant);Most Reliable Digital Payment Platform Africa 2022 (Cellulant);Best one-stop Digital Payments Platform Africa 2022 (Tingg). The World Business Outlook is a Singapore-based print and online magazine providing coverage and analysis of the financial industry, international business and the global economy. It is driven to serve its readers, viewers, and attendees with comprehensive business updates.Cellulant is winning the…
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