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 growth and evolution of 24/7 banking such as internet and mobile banking is now a reality. There is however a big chunk of the economy that is still cash-based. According to the Bank of Uganda, the number of internet-based fund transfers grew by 51.6% from UGX46.7 million in 2021 to UGX70.8 million transactions in 2022. The value of money moved via Internet banking nearly tripled, growing from UGX4.5 trillion to 12.5 trillion, a whopping 176% growth. Mobile banking (excluding mobile money) users also jumped from 1.4 million to 1.7 million and the number of transactions also grew from 25.3…
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Construction of the one-of-a-kind 3,800-seater Speke Resort Convention Centre is on schedule and will be completed in time for the 19th Summit of the Non-Aligned Movement to be held in January 2024 in Kampala, Uganda. Dr. Sudhir Ruparelia, the Chairman of the Ruparelia Group, which is contributing the resort in partnership with the government of Uganda told CEO East Africa Magazine in an interview that the project is 85% complete. This was after President Yoweri Kaguta Museveni inspected works at the project on Friday, November 17th 2023. The Ruparelia Group, is in a joint venture with the Uganda Development…
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Tina Wamala, is a seasoned professional with a wealth of experience in public relations, has been at the forefront of PRAU’s strategic initiatives. Tina’s dedication to the profession was evident in her pivotal role in steering PRAU towards hosting the 2nd edition of the East Africa PR Week that run between the 6th and 10th November 2023 at the luxury Jinja Nile Resort.. Her ability to unite professionals and create a platform for knowledge exchange has been instrumental in the event’s success. Her leadership ensured that the EAPRW not only met but exceeded expectations, fostering a collaborative environment for PR…
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Olea Insurance Solutions, the pan-African insurance broker, has acquired a significant stake in Ballpack Insurance Group Uganda, expanding its footprint across the continent to its 25th market in Africa, the French company has said in a statement. The acquisition of a controlling stake in the Ugandan company, which Olea has been publicly discussing for at least a year as its strategy for entering Uganda, underscores the French private company’s goal of establishing a brokerage network throughout sub-Saharan Africa. The value of the transaction was not disclosed. “The acquisition of Ballpack Insurance Group Limited is a mark of confidence in our…
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It was all shouts and jubilations in Rhode Island USA as Pebuu Africa, one of Uganda’s leading fintech firms scooped a prestigious Go Global Award for impact investment at the influential International Trade Council Annual Go Global Awards held in Rhode Island, USA on 8th November 2023. Pebuu won in the category of Finance in Financial Technology for their Pebuu School Card solution which provides cashless payment for school-age-going children without access to mobile phones and who are traditionally left out of the cashless ecosystem. Powered with a secure chip & pin option, students can receive payments from their parents…
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Yesterday, November 7th 2023, Standard Chartered Bank marked the 2023 Purple Tuesday with a series of activities that included lighting the bank’s head office purple as well as hosted several persons with different abilities from a Futuremakers initiative involved in Agri-business where the bank offered them grants totalling to over UGX 170m to enhance their businesses. The event was presided over by Hon. Helen Grace Asamo, Minister of State for Disability in the Ministry of Gender, Labour and Social Development. In this opinion, Sanjay Rughani, the Chief Executive Officer, of Standard Chartered Bank Uganda reiterates the importance and value of…
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Airtel Africa registered strong growth, margin expansion and cash generation, despite foreign exchange headwinds in Nigeria, the company results for the financial half year which ended on September 30, show. According to the results, the company’s revenue in Nigeria grew by 23% in constant currency, driven by growth in voice, data, and mobile money usage. Airtel Africa’s customer base in Nigeria also grew by 7.8% to 59.8 million, while its mobile money customer base grew by 19% to 36.5 million. Olusegun Ogunsanya, Group Chief Executive Officer of Airtel Africa said he was pleased to report a strong operating performance for…
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Liquid Intelligent Technologies (Liquid), a pan-African technology group, has appointed Michael Mukasa as its Chief Executive Officer (CEO) effective October 2023. With a distinguished career spanning over 15 years in the telecommunications sector across Africa and the United States, Michael brings a wealth of experience and expertise to Liquid Uganda’s operations. “Michael’s extensive industry experience, financial acumen, and his ability to build and nurture valuable relationships make him a strong asset to the Liquid Uganda team. We are excited to welcome him on board and are confident that his leadership will bring innovation and growth toLiquid Uganda, benefiting both customers…
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On October 4 amid fanfare, billionaire Dr Sikander Lalani chairman of the Roofings Group, inked a deal that will see the firm expand its production to 150,000 tonnes-a-year thanks to a new cold rolling plant at the Namanve Industrial Park. The move, some say, is a bold expression of Lalani’s future intentions as he prepares to consolidate the firm’s position as one of the leading manufacturers of steel products in Uganda and the East and Central African region. Roofings Group was launched operations in 1994 and has since not looked back. It offers a one-stop service and diversified product shop…
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First, tell us about the Centenary Foundation. What is it about and what does it stand for? The Centenary Foundation is one of the subsidiaries of the Centenary Group. It is the social development and sustainability arm of the Centenary Group. The Foundation is also the special purpose vehicle through which the Group ensures that social economic impact in the communities is realised, to complement the value-based business results. Centenary Foundation’s vision is a ‘safe and sustainable world where all citizens live a healthy, fulfilled life of self-reliance in dignity’. To achieve this ambition, the Foundation empowers men, women,…
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