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…
Housing Finance Bank in 2023 became the fastest-growing bank by customer deposits, beating off all its rivals in the top 10 banks segment, including all 6 Domestic Systemically Important Banks (DSIBs), which control about 65% of the industry. According to results announced today, Housing Finance Bank reported that customer deposits grew by 44%, from UGX1.119 trillion to UGX1.611 trillion in 2023, a growth of UGX492.5 billion. According to industry results that we have seen, the other two banks that grew their deposits in 2023 nearly as much were Absa Bank Uganda (UGX400.3 billion) and DTB Uganda (UGX331.1 billion). Leveraging the…
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Fincom Technologies, a subsidiary of Service Cops Limited, a Ugandan technology company with a presence in the Great African Lakes region recently announced major upgrades to its SchoolPay solution, introducing SchoolPay ERP. SchoolPay ERP is a major upgrade to SchoolPay- the Revolutionary Educational Institutions Management Solution used by thousands of schools. The new SchoolPay ERP boasts several new features and a multi-user dashboard with several functionalities for school owners, administrators, parents and learners. It makes it easier than ever, for school owners and administrators especially to smoothly manage their educational enterprises in a few clicks. SchoolPay ERP can be used…
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Diamond Trust Bank Uganda has today released its annual performance results for 2023 reporting a steady double-digit growth across all major metrics such as deposits, customer lending and income, as well as net profit and total assets. The bank reported that in 2023, customer deposits grew by UGX331.1 billion or 17.7%, from UGX1876 billion, crossing the UGX2 trillion mark, to UGX2.207 trillion at the end of 2023. With a sizeable deposit growth, DTB in the year increased its lending by 10.7% or UGX84.8 billion, from UGX791 billion to UGX876 billion. Growth in lending largely contributed to a 24.2% growth in…
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Salaam Bank Uganda, a provider of Shariah-compliant financial services, has won the Best New Islamic Bank award at the prestigious Islamic Finance News (IFN) Global Awards, 2024. The coveted global award recognises the bank’s commitment to providing innovative and customer-centric shariah-compliant financial solutions, as well as its significant contributions to the growth and development of the Islamic finance industry in Uganda. Winners were announced and crowned at the Global awards ceremony at Address Sky View Hotel in Dubai on Thursday, April 25. Salaam Bank Uganda Board Chairman, Mr. Ibrahim M. Abdirahman and Chief Executive Officer, Mr. Michael Mande picked the…
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The Petroleum Authority of Uganda Executive Director, Mr Ernest Rubondo has commended SLB (formerly known as Schlumberger) for its efforts in advancing women in science and technology. This commendation came during a meeting with Mr Wallace Pescarini, the President of SLB Offshore Atlantic Basin, held at Petroleum House in Entebbe. Mr Pescarini, currently in the country to participate in the Science, Technology, Engineering, and Mathematics (STEM) Forum for Women in the East African Region, hosted at the Kampala Serena Hotel, paid Mr Rubondo a courtesy visit. The SLB Faculty for the Future programme, launched in 2004, grants fellowships to women…
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The recently launched Mobile Credit Score by gnuGridCRB and Airtel Mobile Commerce Uganda Limited (AMCUL) promises to further unlock access to credit for the vast majority of Ugandans in the informal sector, including agriculture which employs the largest proportion of Ugandans, Wilbrod Owor, the Executive Director of Uganda Bankers Association (UBA) has said. Speaking at the launch of the groundbreaking solution, Mr. Owor said that using alternative data to aid decision-making in lending would scale up access to credit for those who need it most. “I’m very excited. Today’s launch of the Mobile Credit Score, speaks to impact. It is…
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My Tree Initiative Organization and Absa Bank Uganda have announced a partnership that will accelerate the planting of over 300,000 trees in 300 schools, and local communities across Eastern Uganda. The ambitious initiative is under the theme “Sustainable Growing of 300,000 Trees in 300 Schools by 2025”, which is a Schools Greening Program aimed at combating climate change, promoting environmental education, and awareness, and creating greener campuses across school communities. The project particularly targets areas in Eastern Uganda that have suffered adverse impacts of extreme weather events resulting in landslides, destruction of property, and loss of lives. The program was…
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I&M Bank Uganda has released its 2023 annual performance results showing accelerated growth and profitability since the I&M Group Plc acquired the former Orient Bank in 2021. I&M Group Plc acquired Orient Bank Ltd on 30th April 2021 and fully rebranded it into I&M Bank (Uganda) Limited in November 2021. Since the acquisition, I&M Group Plc one of Eastern Africa’s leading banking and insurance groups, has invested over UGX108 billion in recapitalising the bank. The Group has llso invested USD9 million (UGX34 billion) into the digitisation of its systems and platforms headlined by an upgrade to a Finacle Core Banking…
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The government of Uganda has released more money towards its household poverty alleviation initiative, the Parish Development Model (PDM). This was confirmed by PostBank Uganda, the gov’t distribution partner of the cash to the final recipients through its mobile wallet platform, Wendi. The amount totalling up to UGX 267 Billion was disbursed among 5,322 government-identified and vetted SACCOs country-wide with each earmarked to receive UGX50M. “We received the latest batch of money from the government on Tuesday, 09th April, to distribute to over 5,000 SACCOs around the country covering over 100 districts. We completed the disbursement to all the SACCOs…
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The Mobile Credit Score, recently launched by gnuGrid CRB and Airtel Mobile Commerce Uganda Limited (AMCUL), will rapidly close the information asymmetry challenge in bottom-of-the-market lending, enhancing two-way lender-borrower trust and in due course shall reduce the cost of borrowing, Giles Aijukwe, the Chief Executive Officer of Letshego Uganda, one of the leading non-deposit-taking lenders has said. Mr. Aijukwe, who was a panellist at the launch of the Mobile Credit Score, hailed the Mobile Credit Score, the first of its kind as a transformational solution and said that it was mutually beneficial to lenders and borrowers alike. The first…
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