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 Uganda Alcohol Industry Association (UAIA) has met the Minister of State for Investment, Hon Evelyn Anite and the Minister of State for Trade Hon David Bahati to address major concerns on the proposed Alcohol Drinks Control Bill 2023, which seeks to regulate the manufacture, importation, sale, consumption and advertisement of alcoholic drinks in Uganda. During the consultation meeting at the Ministry of Finance and Economic Planning boardroom, members of the association pointed out untenable clauses that need to be reviewed due to the negative impact they pose on the economy and the industry once enacted into law. Key among…
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Airtel Africa today has launched, Nxtra by Airtel (“Nxtra”), a new data centre business founded on what the telco says is a “commitment to meet the continent’s growing needs for trusted, and sustainable data centre capacity and to serve the fast-growing African digital economy”. In a media statement, Airtel Africa said, “Nxtra aims to build one of the largest network of data centres in Africa with high-capacity data centres in major cities located strategically across Airtel Africa’s footprint, complementing its existing edge sites”. “Nxtra’s ambition will allow it to serve the growing need of African enterprises and its data centre…
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Ronald Makata has been named new Chief Finance and Value Management Officer for Stanbic Bank Uganda replacing Abraham Ongenge who has since moved to Stanbic Bank Kenya as the Executive Head for Personal and Private Banking. Makata joined Stanbic Bank in 2013 as Manager, Financial Reporting before progressing to serve in several senior roles including as Financial Controller; Head of Banking under Client Solutions and most recently, as Head, Treasury and Capital Management. He is credited for leading and managing several key assignments that have transformed the bank including embedding strong financial controls across Africa, business transformation projects, client simplification…
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I&M Bank Uganda has announced its strategic partnership with Mastercard, a global leader in digital payments and technology. The collaboration aims to revolutionize the banking experience for customers by driving digital transformation and enhancing payment security through cutting-edge digital payment solutions. The bank launched a range of new I&M Bank Mastercard cards to the market, including the I&M Bank Standard Debit Mastercard, I&M Bank World Debit Mastercard, and I&M Bank World Elite Debit Card, which will offer enhanced features and functionality that will greatly transform the customers’ experience and how they manage their finances and make payments. Recognizing the increasing importance…
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Cash management falls under the Corporate and Investment Banking division of the bank. The bank’s vast array of cash management solutions includes payments (funds transfer, regulatory payments, utility bill payments and mobile disbursements) and collections (domestic direct debits, corporate mobile cashless collections and bank direct collections). They also include other channels such as internet banking, host-to-host integration, APIs integration, mobile banking and online trade finance management. It also includes pre-paid cards as well as credit cards. Absa Bank Uganda’s parent company, Absa Group, was awarded the Euromoney 2020 Excellence in Leadership in Africa Award as a result of its integrated…
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A 2023 World Economic Forum Future of Jobs report shows this form of artificial intelligence is automating millions of jobs with the hope of eventually changing the future of work. Automating tasks is viewed to be beneficial, freeing up human workers from routine tasks, and allowing them to focus on more creative and innovative endeavours such as research, design, and problem-solving. CEO East Africa Magazine profiles three Ugandan businesses harnessing the power of artificial intelligence to automate tasks, improve productivity, and drive sales. Kweli: Driving sales and automating tasks Stephen Obeli took an interest in artificial intelligence seven…
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It is now clear that the newly appointed I&M Bank CEO Robin Bairstow is a man on a mission, not only to grow I&M Bank Uganda into one of the leading financial entities, but also to transform the banking sector through strategic partnerships and well thought out digital innovations. Formerly the CEO of I&M Bank Rwanda, Bairstow left a mark by playing an integral role in helping the bank achieve remarkable growth and success. This was accomplished by trebling the bank’s total assets to RWF 491.3 billion. His time in office also coincided with the bank’s growth in pre-tax profits…
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To further ease and expand access to credit and promote financial inclusion, the Bank of Uganda, Uganda’s central bank, has licensed Armada Credit Bureau Limited as Uganda’s fourth credit bureau. “This licensure reflects the regulatory authority’s recognition of Armada CRB’s commitment to maintaining the highest standards in the credit reporting industry, having fulfilled all of BoU’s stringent conditions for securing a CRB operating license,” the company said in a media statement. “As a licensed credit bureau, Armada CRB is poised to contribute significantly to Uganda’s financial sector and facilitate informed decision-making for creditors across diverse industries,” the company added. …
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Florence Nakimbugwe Nsubuga, the long-serving Umeme Limited Chief Operating Officer, is leaving the the power distributor for a Country CEO role at Berkeley Energy Uganda Limited, CEO East Africa Magazine, can exclusively reveal. She assumes the role in February 2024. Berkeley Energy is a renewable energy and power engineering, construction, and investment company that focuses on developing markets. In Africa, it runs the Africa Renewable Energy Fund (AREF) which invests in small hydro, geothermal, solar, and biomass projects across Sub-Saharan Africa, excluding South Africa. Through Maji Power Limited, a wholly-owned Ugandan subsidiary, Berkeley Energy is invested in the 16 MW…
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After three years at the helm of Stanbic Uganda Holdings Limited (SUHL), Andrew Mashanda is set to leave the Chief Executive role, CEO East Africa Magazine can exclusively reveal. He will be taking up a yet-to-be-specified role within the Standard Bank Group, effective January 2024, according to our sources. Listed on the Uganda Securities Exchange, SUHL is Uganda’s largest financial and financial technology conglomerate. It is the mother company of Stanbic Bank—Uganda’s largest commercial bank, as well as four other subsidiaries⏤ Stanbic Properties, Stanbic Business Incubator, SBG Securities, and FlyHub. Mashanda’s three-year term at the helm of SUHL will come…
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