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…
Centenary Bank has re-echoed its commitment towards the Masaza Cup tournament. This was confirmed by Micheal Jjingo, General Manager of Commercial services at Centenary Bank, as he handed over a cheque worth UGX 12million to Bulemezi who emerged winners at this year’s closing match at Muteesa II Stadium, Wankulukuku. Jjingo also handed over cheques worth UGX 9 million, 7million and 5million to Gomba, Mawokota and Buddu which finished in the second, third and fourth places respectively. The Buganda Kingdom launched the Masaza Cup Football Tournament in 2014 to develop potential among the children from the several Counties or Masaza that comprise…
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Manzi Rwegasira has been appointed Chief Executive Officer of Stanbic Bank Tanzania. In a statement the bank said Rwegasira “brings in a wealth of expertise from various facets of banking.” He succeeds Kevin Wingfield, with effect from 1st October 2023. Prior to his appointment Rwegasira was the bank’s Head of Corporate & Investment March 2019 to Oct 2023. He was also the Head of Investment Banking at Stanbic Bank Tanzania from July 2017 to Mar 2019. Before joining Stanbic Bank, Rwegasira was the Head of Strategy & Investor Relations at NMB Bank PLC from September 2014 to Jul 2017 ·…
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Uganda’s National Social Security Fund (NSSF) is to acquire 10.55% of the total shares outstanding of Airtel shares in the ongoing Initial Public Offering (IPO) for a consideration of UGX199 billion (USD53 million), the two entities have announced. ‘The investment reflects the confidence that the NSSF has in the telecommunications sector, the prospects of the Company and the quality of its management team. The Fund’s investment in Airtel gives an opportunity for millions of NSSF members to own part of a successful company in a fast-growing sector known for innovative services,” NSSF’s Managing Director, Patrick Ayota and AIrtel’s Manoj Murali…
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Centenary Bank has been recognized and awarded as the best bank at the 30th Global Finance awards. In a grand celebration held alongside the IMF World Meetings in Marrakech, Morocco, Centenary Bank emerged as the shining star of the global banking industry, securing the coveted title of “Best Bank” at the 30th Global Finance Awards. This remarkable achievement marks a momentous milestone for Centenary Bank, affirming its commitment to excellence and innovation in the financial sector. The Global Finance Awards are renowned worldwide for recognizing and celebrating the outstanding achievements and contributions of financial institutions across the globe. Centenary Bank’s…
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Following a spirited four and a half years as the Country General Manager of Interswitch in Uganda, Peter Kawumi has been elevated to the Regional Managing Director, East Africa. In that role, Peter will “assume responsibility for strategic, sustainable growth and consolidation of all our businesses and initiatives within East Africa,” according to an Interswitch Group statement on its LinkedIn page. Interswitch Group is Africa’s leading home-grown digital payments and e-commerce company. “Peter brings a wide range of experience in digital channel utilisation, customer acquisition, scaling plans in consumer services, developing and commercialising products and solutions. We believe the…
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With three days left to the closure of the Airtel IPO, the telco has today announced that it is sweetening it is further sweetening its incentivisation structure, a move, the company says is to encourage more local participation. “In order to encourage participation in the IPO and promote allocation to Ugandan investors, the Board of Directors has proposed a substantial enhancement of the incentive structure,” the company said in today’s public statement. Under the revised structure, retail investors applying for between 2,500 and 18.5 million shares, who were under the old bonus scheme supposed to get 5 Incentive Shares…
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Uganda Breweries Limited (UBL)will expand its Farm for Success, previously Local Raw Material, program from the current 35,000 farmers to 50,000 farmers. The move has been necessitated by the firm’s desire to source 100% of agriculture materials used in producing its various brands from Uganda by 2030. The development was announced during the annual farmers symposium that Uganda Breweries created to create mutual understanding, collaboration and foster economic growth and development in the agriculture value chain. Andrew Kilonzo, the Managing Director of UBL stressed that as part of the company’s efforts to increase diversity and inclusion in their processes, they…
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Castrol and RUBiS Energy Uganda have partnered to launch Castrol oil lubricant products in Uganda. The lubricants, which will be sold at over 54 RUBiS Energy Uganda stations countrywide, are suited for the various market segments including car, motorcycle and commercial vehicle engines as well as industrial, marine, technology and innovation applications. Speaking during the launch of the partnership, Ed Savage, Castrol East Africa General Manager said globally, the Castrol brand is renowned for quality, innovation, and high performance. The Castrol General Manager East Africa, Ed Savage gives his speech at the RUBiS – Castrol partnership launch. “The brand has…
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We are now comfortably past H1 2023. Quickly take through an understanding of how the year has been. Have you been able to maintain 2022’s tempo? The year started sluggishly. It wasn’t easy. But by the time we finished the first six months, we were progressing quite well. Looking at the bottomline, we had achieved UGX165 billion, which is about UGX20 billion above budget and we’re hoping that we’ll be able to maintain that momentum. We expect to be, slightly above our budget for the year. By the end of June 2023, we had mobilised UGX4.6 trillion in deposits, again,…
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In a bid to equip the financial sector with practical knowledge on ethical framework and conduct in daily operations, Absa Bank Uganda has conducted a one-day training for sector compliance experts. The event, officiated by theBank of Uganda (BoU) Executive Director for SupervisionDr. Tumubweine Twinemanzi, took place at Protea Hotel in Kampala under the theme ‘Building blocks of an ethics programme’. In his address, Dr. Twinemanzi said that it is important that banks and other financial institutions give special attention to conduct risk if they are to address the upsurge in financial fraud in the post-COVID era. Twinemanzi added that…
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