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…
Kampala Associated Advocates (KAA) has been tapped to represent Stanbic Bank Uganda and its parent, Stanbic Uganda Holdings Limited, in one of the largest transfer-pricing disputes to reach the Tax…
An Auditor General’s investigation has exposed the Ministry of ICT and National Guidance for mishandling over UGX 13.8 billion, which was meant to support Ugandan innovators in developing their ideas and innovations from prototypes into finished products. Details show that in 2017, the government, through the Ministry of ICT and National Guidance, embarked on a National ICT Initiatives Support Program (NIISP) to create an ICT ecosystem that could provide local innovators with the necessary financial, technical, and infrastructure resources to incubate, develop, and market their products in Uganda, the East African Region, and beyond. However, a Value for Money Audit…
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Stanbic Bank Uganda has unveiled a new campaign dubbed Kiri SupaDupa which aims at breaking barriers to access to finance for newly employed individuals especially the youth. According to the African Development Bank (AfDB) young people face numerous institutional barriers when sourcing funding for their personal or commercial ventures with lack of collateral, limited credit history, and restrictive loan requirements being the main hindering most youth from accessing finance. “Africa is predominantly youth, and at Stanbic Bank, we are resolute in ensuring that our lending products reflect that reality. As part of our sustainability agenda, we are intentional about breaking…
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The African Tax Administration Forum (ATAF) and the African Development Bank (AfDB) have marked ten years of collaboration dedicated to advancing Africa’s development through enhanced Domestic Resource mobilisation (DRM). ATAF with over 20 member states including Uganda, Burkina Faso, Burundi, Cameroon among others has registered progress over the years. This long-term partnership underlines a shared commitment to strengthening tax policy, tax administration, and public financial management across the continent, which are essential for African countries to fund their national development plans and achieve the Sustainable Development Goals (SDGs). Rather than introducing new taxes or increasing existing rates, the partnership emphasises…
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The Auditor General, Edward Akol, has noted with concern that the Tilenga and KingFisher Development Area oil projects in western Uganda are behind schedule in hitting completion targets, with some activities also facing a funding crisis. The Auditor noted that whereas the Uganda commercial oil production plans had set a target of drilling 451 oil wells, the Field Development Plan (FDP) designated only 177 (approximately 39%) as necessary for the initial phase of oil production targeted for November 2025, and which was later projected to 2027. However by the time of the compiling of the Auditor’s report in November 2024,…
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Airtel Africa, a leading provider of telecommunications and mobile money services across 14 African countries, has partnered with three internationally renowned African artistes, Fally Ipupa (Democratic Republic of Congo), Diamond Platnumz (Tanzania), and Simi (Nigeria) to engage customers on how to enhance their digital experience by making the most of their data bundles. Through this collaboration, Airtel Africa aims to enable customers to make informed decisions about their data usage habits. The artists have collaborated with Airtel Africa to create a special song to provide customers with practical tips and tools that will help them to maximise their data for…
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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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East Africa’s impact investment leader, DOB Equity has announced an investment in Spouts International, a company transforming access to clean water with its locally manufactured ceramic water filters, branded as Purifaaya. Purifaaya filters provide a safe, affordable and eco-friendly alternative to traditional water purification methods. Using advanced ceramic filtration technology, the filters eliminate the need for boiling water, reducing environmental harm caused by deforestation, indoor air pollution and carbon emissions. Since its inception, Spouts has distributed approximately 300,000 filters, benefiting close to two million people and eliminating over 1.5 million tons of carbon emissions. The filters are made from locally…
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The Honourable Minister of ICT and National Guidance, Dr. Chris Baryomunsi on Thursday officially welcomed Airtel Uganda’s New Managing Director, Mr. Soumendra Sahu and challenged him to add on the contribution made by Uganda’s maiden Mobile operator to the social economic transformation of Uganda. Hon. Baryomunsi congratulated Mr Sahu upon his appointment and posting to Uganda. The minister recollected the ICT policy development journey that the country has undertaken that supports participation of private players like Airtel and He thanked Airtel Uganda for participating in the liberal market reforms that started in 1994 and the contribution so far made. These…
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Nile Breweries Limited, a subsidiary of global brewing giants Anheuser-Busch InBev ( AB InBev), is investigating a number of its staff in the sales and marketing units over fraud. The fraud investigation has also dragged in several of its third-party partners and service providers, such as distributors and sponsees. It is alleged that staff in the sales and marketing departments have been creating either fictitious sponsorships and then drawing and sharing the money with staff and other third-party partners involved in the bogus schemes. Another allegation being investigated is that staff have been colluding with sponsees to overinflate bills, 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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