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…
The Kids of Africa Run will return for the 10th edition on September 8, 2024, at Kids Pioneer School in Entebbe. This year’s run was announced on Tuesday, August 27th, at the Sheraton Kampala Hotel. I&M Bank Uganda is yet again partnering with Kids of Africa, for the 10th edition of the run which will feature categories ranging from 5km, 10km, and 21km, where top performers shall be rewarded with prizes per category. I&M Bank, who sponsored the run in 2022, have boosted this year’s edition with Shs 5m, and have pledged further support by having a good number of…
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South African fintech start-up Omnisient has received a $7.5 million investment from Arise, a company that invests in African financial service providers and fintechs that advance financial inclusion. Founded in December 2019, Omnisient is a privacy-preserving data collaboration and insights platform that allows the owners and users of consumer data to collaborate to extract commercial insights without compromising consumer privacy. The technology provides a controlled, secure environment in which data can be analysed. Omnisient’s innovative approach to preserving privacy while enabling retailers, financial services and healthcare firms to collaborate on consumer intelligence has earned numerous accolades, including ‘winner for social…
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dfcu Bank has launched a new Visa Cashback campaign aimed at rewarding its customers. The campaign, which is part of the Bank’s strategic partnership with Visa, underscores dfcu Bank’s commitment to continuously delivering value-added solutions to its customers. In today’s rapidly evolving banking landscape, digital payments’ contribution to how consumers and businesses pay and get paid continues to record significant growth. As part of its transformation journey, dfcu is committed to become a digitally driven bank, and thus its evolving partnership with Visa. Maryann Wanjiku Michuki, Chief Business Solutions and Marketing Officer at dfcu Bank, while commenting on the launch…
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Finance Trust Bank was established in 1984 with a mission to empower women to achieve their dreams and has over the last 40 years helped tens of thousands of women…
Manufacturing sector players have asked the government to reduce the cost of digital tax stamps (DTS) in a bid to drive usage by all targeted users. According to manufacturers, the high costs of digital tax stamps continue to be a barrier for some manufacturers. Uganda Breweries Managing Director Andrew Kilonzo, during a media day engagement with business reporters and editors, said that the government’s earlier promise was that once all manufacturers embraced digital tax stamps, the cost of the stamps would reduce, but that has not been achieved. “The promise of the system was that all manufacturers would get into…
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dfcu Bank this week announced its financial results for the first half of fiscal year 2024, reporting an improved performance in Net profit after tax, which increased by 45% to UGX 42 billion in June 2024 from UGX 29 billion in June 2023. The bank said in a statement that this was driven by a significant reduction in credit losses from loans and advances owing to sustained recovery efforts, a reduction in the interest expense cost as a result of a deliberate effort to balance the bank’s deposit drivers, and growth in fees and commission arising from the increase in…
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dfcu Bank, a cornerstone of Uganda’s financial landscape with a 60-year legacy rooted in development finance, has launched its latest business lending campaign aimed at empowering small and medium enterprises (SMEs) across the country. The initiative is a clear demonstration of dfcu Bank’s unwavering commitment to transforming lives, businesses, and communities through tailored financial solutions that cater to the unique needs of various business sectors. Speaking about the campaign, Annette Kiconco – dfcu’s Chief Retail Banking Officer said,; the business lending campaign is a testament to the bank’s commitment to providing small and medium enterprises with the financial tools they…
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The UK’s leading ABBA tribute act, ABBA Re-Björn, will make their debut performance in Uganda on Friday, 6th and Saturday, 7th September 2024, at Somewhere Else Bar and Restaurant in Naguru, Kampala. Re-Björn is a full-time professional ABBA tribute act that has toured many countries around the world. This will be their first performance in Kampala, where they will recreate the iconic and much-loved songs of the legendary Swedish quartet. The event, with I&M Bank Uganda as a partner, promises fun and enjoyment for all attendees. With smooth harmonies, high-energy performances and replica costumes, Re-Björn promises to get everyone dancing…
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Finance Trust Bank has launched a UGX 23 billion kitty in GROW loans to over 3000 women during a financial literacy training program at UMA Multi-purpose hall in Kampala. Ms Annet Nakawunde, the Managing Director of Finance Trust Bank said the UGX 23 billion is an open fund targeting women across the country with the need of financing between UGX 4 million to UGX 200 million. The GROW loan product designed to support women in business, agriculture, and trade at 10.5 percent. The loans have been clustered into three segments including; Women in Business Loan designed for a category of…
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Stanbic Bank Uganda has maintained a strong growth momentum in the first half of 2024 posting a profit of UGX 236 billion on its income statement. This represents a 17.6 percent growth compared to the UGX 200 billion earned in the first half of 2023. Stanbic’s stellar half-year performance was largely backed by the Group’s revenue which remained well diversified with non-interest revenue in fees, commissions and trading revenue contributing 43.2% to the total pool of revenue. This was further supported by drop in credit impairments driven by improved asset book and recoveries after write off. The bank also recorded growth…
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