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…
Increased economic activity thus increased power demand, translating into increased customer connections combined to spur a 19.9% growth in Umeme Limited’s gross revenues for H1 2023, the energy distribution company has reported. In results published today, 21st August 2023, Umeme said during the first 6 months of 2023, it connected an additional 72,411 customers to its network, compared to 56,547 in 2022 representing a 28% growth. This increased the company’s customer base to 1.8 million. The company also said it witnessed an 8%, 9%, 9% and 11% growth in electricity sales to its domestic households, and commercial, medium industrial and…
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To build capacity among the youth and groom talent for future sustainability, Housing Finance Bank on August 11th 2022 announced its sponsorship package of UGX 60 million to Ndejje Angels, the basketball team of Ndejje University. The bank, in a statement, said that the “sponsorship resonates with the Bank’s commitment to providing empowering solutions to all Ugandans, particularly among the youth, who make up 70% of Uganda’s population and hold the promise of becoming the country’s future leaders”. The sponsorship follows the Bank’s recent collaboration with Ndejje University, which included the construction of a basketball court earlier this year on…
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In today’s world, environmental consciousness is growing, and industries are actively seeking greener alternatives to traditional materials. Among these alternatives, shingle stone-coated steel emerges as a shining example of an eco-friendly roofing solution. With a perfect blend of strength, durability, aesthetics, and environmental responsibility, this innovative roofing material offers numerous benefits, making it an ideal choice for a greener and more sustainable future. One of the key features of shingle stone-coated steel roofs is the significant percentage of recycled materials they contain. By using recycled metals as the base material, these roofs reduce the demand for new resources, contributing to…
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Ruparelia Group, through its construction company VCon Construction, has won a USD9.1 million deal to construct various infrastructures to house the Faculty of Engineering at the Mbale-based Islamic University in Uganda (IUIU). The project includes the construction and equipping of the main faculty block as well as hostels. The two entities signed the project contract last week at the IUIU Kampala Campus. This follows a no-objection letter by the IsDB, the funder. According to the agreement, the project is expected to be completed within 15 months. Speaking after the signing, Prof. Ismail Simbwa Gyagenda, the IUIU Rector, said the project was…
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Housing Finance Bank has joined PostBank and Pride Microfinance Limited to unveil a partnership with Airtel Money Uganda that will facilitate seamless disbursement of Parish Development Model (PDM) funds by the Government of Uganda through the Wendi mobile wallet platform.This partnership guarantees convenient access to funds for intended beneficiaries across Uganda through Airtel Money’s extensive agency network at minimal to no cost. With 53% of the population embracing mobile money services while only 10% have access to traditional banking, this collaboration resolves the need for heightened financial inclusion. It holds the potential to bridge critical gaps and amplify the Government…
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Pearl Dairy, the manufacturer of Lato milk, has introduced to their portfolio, Lato Nadolac⏤ a complementary feeding solution for infants. “Lato Nadolac aims to support parents in the essential journey of weaning their babies off exclusive breastfeeding by introducing solid foods. This crucial milestone should ideally begin when the baby reaches around 6 months of age,” the company said in a statement. “Lato Nadolac is a significant step forward in our quest to improve infant nutrition in Uganda,” said Bijoy Varghese , General Manager at Pearl Dairy. “We understand the importance of introducing solid foods at the right time, and…
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Airtel Uganda, this week, unveiled its 5G network with a 5G showcase event held at Kampala Serena Hotel on 7th August 2023. 5G is the 5th generation mobile network that enables a new kind of network that is designed to connect virtually everyone and everything together including machines, objects, and devices at very high speeds. It delivers higher multi-Gbps peak data speeds, more reliability, massive network capacity, increased availability, and a more uniform user experience to more users. 5G can support up to 1 million connected devices per square kilometre compared to 4G which can only support up to 100,000…
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Prudence Byarugaba has been appointed as the Country Chief Risk Officer and Country Head of Operational Risk at Standard Chartered Bank Uganda Limited effective 15th July 2023. According to a statement by the bank, Prudence brings to the position, “a wealth of experience in risk management cultivated and engrained over the 20 years she has been with the Bank”. She until her recent appointment the Country Head of Credit and Senior Credit Manager – Corporate, Commercial & Institutional Banking at the Bank. Prior to that, she served as Senior Credit Manager – Commodity Traders & Agribusiness, Africa; Senior Risk Governance Manager, Europe;…
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This week, MTN Uganda released its audited results for H1 2023, reporting double-digit growth across key business fundamentals such as active voice, data and fintech users, as well as revenue and net profits. Shareholders too will be seeing a 19% increment in interim dividend. The results are a good indicator that Sylvia Mulinge who assumed the helm in October 2022 has fully gripped the MTN ship and is on course to maintain the company’s growth path towards its bold Ambition 2025 agenda. Sylvia Mulinge joined MTN from Kenya’s Safaricom, where she was Chief Consumer Business Officer, taking over from Wim…
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In a continuous effort to alleviate poverty through building sustainable financial solutions, FINCA Uganda has attracted new talent to fill key positions in project management, innovations, risk management, credit control and regional branch management. FINCA is Uganda’s second-largest micro-finance deposit-taking institution (MDI). The new executives are Disan Katabalwa (PMP) as Project Manager; Rogers Sebatta and Muhammad Isiko as Regional Managers; Sophia Nabbona Kihumuro as the Head of Credit, Michael Tony Mbusa, as the new Head of Innovations and Product Development and Mpirirwe Mary, as the Head of Risk. The 6 new executives bring to FINCA over 7 decades of combined…
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