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…
Last week, PostBank Uganda, the only tier-1 wholly-owned government commercial bank, released its 2023 performance results reporting that deposits grew by 15% from UGX689 billion in 2022 to UGX790 billion in 2023. This pushed lending to grow by 26% from UGX480 billion to UGX603 billion as well as income to grow by 30% from UGX159 billion to UGX206 billion. As a result, net profit grew from UGX15.2 billion to UGX27.5 billion, an 82% increase. Total assets grew by 14% from UGX943 billion to UGX1.071 trillion, a growth of UGX128 billion. But beyond this 2023 growth story is an even greater…
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dfcu Bank is set to ride on its past success in financing the agriculture sector to commit more funds meant to achieve long term productivity for farmers in Uganda. Speaking at the launch of the 10th edition of the Best Farmers’ Competition at Sight Farm in Namulonge, Wakiso District, Annette Kiconco, the dfcu Chief Retail Banking Officer said, the bank is in for the long haul with its agribusiness financing facilities and solutions for farmers in specific niches such as perennial or annual crops, poultry, or beef as well as distribution. dfcu joined other patners including Vision Group, The Embassy…
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The Chief Executive of the Stanbic Uganda Holdings Limited (SUHL), Francis Karuhanga has officially flagged off two innovative programs aimed at supporting businesses access finance, fostering economic growth within Uganda’s dynamic SME sector. Dubbed the Stanbic Accelerator Program (SAP) and the Supplier Development Program (SDP), unveiled today, the two are under the implementation of the Stanbic Business Incubator Limited (SBIL), a subsidiary of SUHL. “Each year, we inject about UGX 2 billion into the Incubator. The programs mark a significant milestone in SBIL’s commitment to empowering entrepreneurs and small business owners across the country,” Karuhanga said. He added that the…
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The East African Crude Oil Pipeline (EACOP) Ltd has committed UGX 1.2 billion in a Memorandum of Understanding signed with the Ministry of Water and Environment (MWE) to cooperate on various conservation initiatives in the 10 Districts traversed by the Pipeline. As part of this cooperation, EACOP is also joining the Running Out of Trees (ROOTS) campaign. EACOP will work with an implementing partner to plant trees on land belonging to schools, churches, the Bunyoro and Buganda Kingdoms and other institutional landowners with a focus on indigenous and fruit trees across the 10 EACOP host districts. This is in line…
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Humphrey Nabimanya the founder and Chief Executive Officer of Reach A Hand Uganda has been recognised as one of the 100 Most Influential Young Africans at the forefront of leading the continent’s transformation in the 2023 edition of the list. The 2023 edition is the 8th edition. Humphrey Nabimanya is the founder and Chief Executive Officer of Reach A Hand Uganda – a youth-centred non-profit organisation working to address the pressing issues affecting the lives of young people, such as sexual and reproductive health, HIV/AIDS and teenage pregnancy. Hailing from the vibrant village of Katereza in Rugando sub-county, Rwampara…
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Moses Ogwapus, the Commissioner of Financial Services, Ministry Of Finance, Planning And Economic Development has hailed gnuGrid and Airtel Mobile Commerce Uganda Limited’s Mobile Credit Score as an “innovative mobile credit scoring system” and a “paradigm shift” that would revolutionise financial services to the underserved segments of the population, especially the women and youth. Mr. Ogwapus whose department oversees policy and regulation of the entire financial services sector in Uganda⏤ banking, microfinance, digital financial services, capital markets, insurance and retirement benefits, was speaking at the launch of the service on January 24th, 2024, at the Kampala Serena Hotel. “The…
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The Standard Bank Group (SBG) Chief Executive Sim Tshabalala and Board Chairman Nonkululeko Nyembezi were reportedly in Uganda for two days, last week, during which they held meetings with different stakeholders including with officials of the Central Bank with whom they discussed the ongoing executive leadership changes at Stanbic Bank. The Standard Bank Group is the majority owner of Stanbic Uganda Holdings Limited (SUHL) the listed entity that operates Stanbic Properties, Stanbic Business Incubator, SBG Securities, FlyHub, and Stanbic Bank—the country’s largest commercial lender. According to inside sources, the Thursday, April 4, 2024 meeting was attended by among others, the…
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The Board of Directors of Airtel Uganda Limited has, according to Rules 36(2) and 54 of the Uganda Securities Exchange Listing Rules 2021, appointed Mrs. Suzan Mweheire Kitariko as an Independent Non-Executive Director and Mr. Keith Kalyegira as a Non-Executive Director. The appointment took effect on 26th March, 2024. In a statement, Airtel says, Mrs. Suzan Mweheire Kitariko “brings a wealth of experience and expertise in both Telecommunications and strategic leadership having previously served as Regional Manager East Africa, Google Uganda, Head of Strategy and Transversal Projects, Orange Telecom Uganda”. Suzan is currently the General Manager of SICPA Uganda. “Her…
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“I mean, for us (dfcu Bank), a top three position should really be where we should be going. We should be among the top three banks in the country. We should be able to move into the top three banks in the short run. That is our aspiration and we should be able to see ourselves being able to do that,” Charles Mudiwa, the Chief Executive Officer of Uganda’s dfcu Bank, told media at a working lunch organised by the bank on March 15th 2024 at Golden Tulip Hotel, Kampala. Mr. Mudiwa who assumed the leadership role of Uganda’s…
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The Private Sector Foundation Uganda (PSFU), in partnership with Mastercard Foundation and The African Management Institute (AMI) this week, hosted a meeting for stakeholders in Uganda’s Business Development Services (BDS) ecosystem aimed at enhancing the capacity and quality of BDS offered to Micro, Small & Medium Enterprises (MSMEs). The event brought together leaders and innovators from the BDS ecosystem, focusing on fortifying the capabilities of BDS providers to catalyse the growth of MSMEs in the country. Addressing stakeholders, Stephen Asiimwe, the CEO of PSFU, emphasised the vital role of MSMEs as the backbone of Uganda’s economy, while highlighting the pivotal…
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