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…
Salaam Bank, formerly Top Finance Bank, has become the first financial institution in Uganda to be granted a license by the Bank of Uganda to offer Islamic Banking services. This followed the signing and handover of the operating license by the Deputy Governor, Bank of Uganda Michael Atingi-Ego to the Shareholders’ representative, Salaam Bank, Mr. Michael Mande, on Friday September 08th 2023. Speaking during the event, the Deputy Governor Dr. Michael Atingi-Ego reaffirmed the government and indeed Bank of Uganda’s salient mandate to provide an enabling economic environment that facilitates both local investments and attracts foreign investors. “As a strategically…
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Africa, the second-largest continent and home to 1 billion people has long captured the imagination of the world. Today, different thinkers, and political and business leaders are preoccupied with a single question – how to help Africa’s economy grow so it can trade with the world on better terms? The answer is simple: Africa needs to craft its own solutions to solve its problems. It starts with the promotion of a mindset of self-reliance. There’s no better way of expressing that self-sufficiency than creating innovative financing solutions to fund projects that could lead to sustainable economic growth in all the…
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Unmanned Aerial Vehicles (drones) are now popular gear, especially for people engaged in the film industry, videography, vlogging and tourism, amongst other businesses. On the other hand, away from such civilian uses, drones are also known to be used for subversive and illegal purposes such as reconnaissance and surveillance (spying) and in some cases targeted attacks, activities otherwise reserved for state security actors. Uncontrolled flying of drones may also pose safety risks to other users of Ugandan airspace such as aircraft as well as pose safety risks if flown in busy residential or urban areas. It is for these security…
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Housing Finance Bank (HFB) has received a Certificate of Acceptance to the Sustainability Standards and Certification Initiative (SSCI) during the 10th Global Sustainable Finance Conference recently held in Karlsruhe, Germany. According to HFB, “this recognition underscores HFB’s steadfast dedication to sustainability, responsible business practices and alignment with global Sustainable Development Goals and national development agenda”. The Certificate of Acceptance was received by Board Chairperson David G. Opiokello on behalf of the Bank in a delegation he led, which comprised the Managing Director, Micheal Mugabi, and other executive team members. The delegation was joined by esteemed dignitaries, including Uganda’s Ambassador to…
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Sanlam, Africa’s largest non-banking financial services provider, and Allianz, one of the world’s leading insurers and financial services providers are pleased to announce that they have received regulatory approvals for the joint venture that will create the leading Pan-African non-banking financial services company with a presence in 27 countries in Africa. The joint venture will operate as SanlamAllianz. “SanlamAllianz’s ambition is to be among the top three players, in both market share and profitability, in the markets where the company will operate,” the company said in a media statement. The joint venture, according to the statement, is expected to have…
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Birungyi, Barata and Associates (BBA), a Ugandan tax advisory and tax law firm has been named among Uganda’s top 12 tax law firms and consultancies in the 2024 edition of ITR World Tax⏤ a comprehensive guide to the world’s leading tax firms. The firm is also the only firm in Uganda rated by the ITR World Tax 2024 as an authority on transfer pricing. Transfer pricing, according to Investopedia.com, is “an accounting and taxation practice that allows for pricing transactions internally within businesses and between subsidiaries that operate under common control or ownership. The transfer pricing practice extends to cross-border…
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MSI Global Alliance (MSI), a prestigious leading international association of over 250 independent legal and accounting firms in more than 100 countries, has appointed Isaac Mugerwa, a Senior Partner at MSI’s Ugandan law member firm, Bluebell Legal Advocates as its new MSI Area Representative for Sub-Saharan Africa. As the Africa Area Representative, Isaac will play an important role in facilitating communication, knowledge sharing, and cooperation among MSI member firms operating in Sub-Saharan Africa and beyond”. In a 31st August 2023 public statement, Andrew Leck, the MSI Chief Executive Officer, praised Isaac for “playing an active role in the growth of…
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Safaricom Ethiopia has announced the appointment of Wim Vanhelleputte as its new Chief Executive Officer, effective from September 1st, 2023. Vanhelleputte, the former CEO of MTN Uganda, will succeed Anwar Soussa, who has led the company since its inception. Vanhelleputte brings a wealth of experience to his new role, having served as the Operating Executive for West and Central Africa (WECA) Markets of Liberia, Guinea-Conakry, Guinea-Bissau, and Congo-Brazzaville at MTN Group since August 2022. His responsibilities included overseeing performance and governance in these markets. Before that, he had been at the helm of MTN Uganda for six years being replaced…
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The Board of Directors of I&M Bank (Uganda) Limited has announced the appointment of Mr. Robin Bairstow as the Chief Executive Officer (CEO) effective August 2023. The appointment is subject to Bank of Uganda approval. “With an extensive record in the financial services sector, Bairstow’s appointment underscores I&M Bank’s commitment to delivering excellence and growth across its regional operations,” the company said in a public statement. “Bairstow brings a wealth of experience to his new role and knows the Group well, having served as the CEO of I&M Bank (Rwanda) Plc from September 2015 to June 2023. During his tenure,…
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Billionaire businessman as well as the largest Ugandan and individual equities investor on the Uganda Stock Exchange has endorsed the Airtel Uganda IPO, saying that it is a good buy. Speaking to CEO East Africa Magazine on the sidelines of the Airtel Uganda launch of its IPO prospectus, Dr. Sudhir Ruparelia said that the historic good performance of the telco, coupled with the growing role of communication technologies, makes the Airtel IPO, worthy of consideration. “What I’ve seen here, in the prospectus, for example, forecasted earnings per share of UGX22 per share this year⏤ for a price of UGX100 at…
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