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…
Committed to making a positive and measurable impact on the communities in which it operates, the Muslim community at I&M Bank Uganda, with the support of I&M Bank Uganda reached out to Alwaasi Charity to support their mission of empowering and uplifting vulnerable communities in Bweyogerere, Kakajjo. Annette Nakiyaga, the Head of Marketing and Corporate Affairs at I&M Bank said the bank is committed to making the different communities they operate in a better place for everyone. “We are determined to make a difference in the different communities we operate in, And for this particular cause I&M Bank team has…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
I am pleased to present Centenary Bank’s 2022 financial results. Despite a challenging operating environment, we were able to maintain stellar performance. During 2022 our operating environment was affected by the Ebola outbreak and the Russia-Ukraine war. The war sparked off inflation in almost all economies including Uganda causing an increase in fuel prices and later food and other commodity prices, exchange rate (UGX) depreciation, weak domestic demand, and increased cost of doing business. This greatly affected our customers’ business growth. Our stand to address the fore mentioned was offering customers innovative solutions alongside focusing on the real economy, sustainability,…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Uganda’s Centenary Bank has released its 2022 results announcing “substantial growth in 2022 especially in profits, deposits, gross loans, and total assets”. The bank reported an 18% growth in net profit, from UGX211.5 billion in 2021 to UGX249.6 billion in 2022- an increase of UGX38.1 billion. The increase in profits was underpinned by an 11.4% rise in total income⏤ from UGX 864 billion in 2021 to UGX 962 billion in 2022, an increase of UGX98.3 billion. Most of the total income growth was driven by increased interest income (from increased lending) and fees and commissions (from increased transactions). Customer lending…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Centenary Group has appointed Godfrey Byekwaso, hitherto the General Manager of Finance at Centenary Bank Uganda, as its Deputy Managing Director for Centenary Bank Malawi, CEO East Africa Magazine can exclusively reveal. Centenary Group, which is the holding company for Centenary Bank, Centenary Technology Services Limited (Cente-Tech), and Centenary Foundation, recently acquired 100% of MyBucks Banking Corporation of Malawi and rebranded it to Centenary Bank Malawi. The new brand was launched on March 22nd 2023 and Zandile Shaba, retained as the bank’s Managing Director. Godfrey Byekwaso is a highly skilled finance professional and banker with key competencies in financial analysis…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Standard Chartered Bank has contributed to the World Trade Board’s new plan to drive greater access to trade finance for MSMEs, the Financial Inclusion in Trade Roadmap. Launched on the 27th of March 2023, for consultation, the plan identifies five key areas where coordinated action can make a significant impact. Crucially, the Roadmap aims to accelerate the pace of change by providing a holistic framework for public and private sector collaboration. MSMEs make up around 90% of businesses globally but accounted for only 23% of applications for trade finance in 2020. Despite their low representation, these smaller firms made up…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Uganda Revenue Authority (URA) is to consider mechanisms of relaxing import clearance procedures to facilitate trade and support importers. This follows a recent meeting between URA’s Commissioner General, John Musinguzi, and members of the Private Sector Foundation Uganda (PSFU) and other industry players in the clearing and forwarding industry, during which the traders expressed their concern about the need to relax import clearance through the mandatory WT8 document. The WT8 document is a transit entry that requires all documents concerning imports to be declared before the goods arrive in the country. Such documents include; proforma invoices, bills of lading, commercial…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Housing Finance Bank this week held an Iftar dinner at Hotel Africana in celebration of its Muslim staff and customers. At the dinner, Michael Mugabi, the bank’s Managing Director expressed gratitude towards the Muslim community for their continued trust and loyalty to the Bank. “We are honoured that you have chosen Housing Finance Bank as your preferred financial partner. We appreciate you and are committed to offering solutions that facilitate business growth for Muslims and the business community in the country. We are also exploring Islamic Banking among other tailored solutions,” he said. The dinner is a continuing tradition…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
This year’s NSSF Annual Career Expo is expected to benefit over 5,000 students in seven universities countrywide, with a focus on empowering them with skills to succeed in the emerging gig economy. The two-week expo will be held from 17th April 2023 to 28th April at Makerere University Business School, Makerere University, ISBAT University, Kyambogo University, Uganda Martyrs University Nkozi, Bishop Stuart University and Kampala International University. Reflecting on the expo theme, Succeeding in the gig economy- the future of jobs, Patrick Ayota, the NSSF Ag. Managing Director challenged the youth to try alternative work opportunities to make a living…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
To make your viewing experience as smooth and trouble-free as possible and to make it easy to find the newest content on GOtv channels, GOtv’s channel numbering system will change from Wednesday, 19 April. “Flagship channels, popular local channels, movies, and telenovelas now all have their own clearly marked blocks. With this new and improved way of numbering, we can keep up with changes and add new channels without causing too much trouble,” GOtv said in a media statement. The company said that the changes have been done “to ensure that you can keep up with all the twists and…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
The National Social Security Fund (NSSF) has today announced an extension of the mandatory registration for employers to June 30, 2023, following requests from small and medium enterprises. Non-compliant employers will thereafter be subjected to financial penalties as provided in section 14 of the NSSF Act, as amended, NSSF Ag. Managing Director Patrick Ayota has said. Since the launch of the “Now You Can” registration campaign on March 28, 2023, 1468 employers have so far registered and started remitting social security contributions for their employees. “It is 9 days to the end of the amnesty period that the Fund had…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
