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…
Standard Chartered Bank Uganda in partnership with Challenges Worldwide, a Kampala-based business development consultancy have today launched the scale-up of the Youth to Work (Y2W) phase IV programme worth UGX832 million. The launch, at Fairway Hotel, was presided over by the Commissioner for Micro, Small & Medium Enterprises (MSMEs) at the Ministry of Trade, Industry and Cooperatives – Dr. Joshua Mutambi. “Youth to Work” is the flagship employability project under Futuremakers by Standard Chartered Foundation. It is the Bank’s global initiative to tackle inequality and promote greater economic inclusion for young people in local communities through the pillars of Entrepreneurship,…
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Absa Bank Uganda has this morning released its 2022 financial results, reporting growth in deposits, lending, revenues as well as net profit and assets. The bank, a subsidiary of Absa Group, one of Africa’s largest financial services Groups announced that customer deposits in 2022, grew by UGX34.8 billion, from UGX2.42 trillion in 2021 to UGX2.46 trillion in 2022, a growth of 1.4%. Deposits’ growth was on the back of an “increase in the active customer base as a result of new-to-bank acquisitions and reactivation of inactive accounts”. “Additionally, there were increased customer engagements due to the capabilities built by the…
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Over 100,000 runners yesterday, April 13th thronged the Lubiri Palace, for the 10th Airtel-Kabaka Birthday Run that was flagged off by His Majesty, Kabaka of Buganda Ronald Muwenda Mutebi II. Started in 2003, the annual Kabaka Birthday Run has rallied Ugandans over the last 10 years to celebrate both the Kabaka’s life while participating in efforts to reduce the disease burden. Previous editions have focused on ending sickle cell, fistula, as well as encouraging people to join efforts towards ending the spread of HIV/ AIDS. Just like the past 2 years, this year, the run was held under the theme…
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Ugandan agri-fintech startup Emata was named the Best Newcomer at the Global Startup Awards finale in Copenhagen, Denmark held on March 30th 2023. The Ugandan ambassador to Nordic Countries and Baltics, Emata CEO, and co-founder Bram van den Bosch received the award. Emata was the only Ugandan startup nominated for the prestigious accolade and competed against startups from Portugal, Estonia, Israel, UAE, India, Indonesia, Denmark, and Turkey in the category of the best newcomer. There were more than 80,000 nominations for this year’s Global Startup Awards. This is Emata’s second win, following the agri-fintech’s “Best Newcomer” in Africa win in…
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According to the Economic Policy Research Centre (EPRC), Uganda’s leading think tank on economics and development policy-oriented research and analysis, 425,000 jobs were lost amongst Micro, Small and Medium Enterprises due to the Covid-19 pandemic. Of these, 241,000 jobs were lost between the period before Covid-19 and the end of the first Covid-19 lockdown, and 184,000 jobs were lost between the first lockdown and the second lockdown. Job losses were more prevalent among youth and female workers, and the magnitude of wage cuts was also higher for female and youth employees. A determined Martha, decided to venture out into private…
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I&M Bank Uganda has reaffirmed its commitment to supporting charitable causes and giving back to the community by becoming one of the main sponsors of the 2023 Kabaka Run slated to take place this Sunday, April 16 at Bulange, Mengo. The Kabaka Birthday Run is an annual event organized by the Buganda Kingdom to raise funds for charitable causes and precedes the birthday celebrations of His Majesty Ronald Muwenda Mutebi II, the King of Buganda. This year’s theme is “Men Against HIV/AIDS to Save The Girl Child,” which is in line with UNAIDS’ mission of ending AIDS by 2030. I&M…
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Fitch, the international credit rating agency, has retained the Stanbic Bank Uganda’s National Rating at ‘AAA (uga)/Stable’, the highest possible on a national scale in its latest report issued last week. The rating agency also upgraded Stanbic Bank Uganda’s Viability Rating (VR) to ‘b+’ from ‘b’ due to improved capital buffers relative to its risk profile. VR is the assessment of the bank’s standalone creditworthiness. The VR reflects the concentration of the bank’s operations in Uganda’s relatively weak operating environment as well as SBUL’s leading market position, large capital buffers supported by internal capital generation, diversified and healthy revenue streams…
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Uganda Development Bank (UDB), the country’s key strategic partner in delivering socio-economic transformation through sustainable financial interventions, on April 4th launched the UDB Climate Finance Facility (CFF)⏤ a strategic Fund that will make available affordable finance that aims to promote climate-smart agriculture, ensure climate resilient infrastructure and low carbon industries. Addressing guests at the launch, the Managing Director UDB Ms. Patricia Ojangole said “the increasing threat of climate change and environmental degradation has the potential to present high socio-economic risks to the economy”. “As the impacts continue to manifest through floods, drought, landslides, animal and crop epidemics among other signs…
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Crown Beverages Limited, the franchise bottler for PepsiCo, Inc., in Uganda has marked has today officially inaugurated its multimillion-dollar bottling plant at Kakungulu, Kajjansi Town Council, on the outskirts of Kampala, Uganda’s capital city. The bottling plant was officially commissioned but the Vice President of Uganda, Rtd Major. Jessica Alupo, who represented the President of Uganda, Gen. H.E Yoweri Kaguta Museveni. Also present, and leading a delegation from PepsiCo, was Eugene Willemsen, the CEO Africa, Middle East & South Asia (AMESA) region. Several cabinet ministers and other government officials including Hon. Mwebesa Francis, Minister of Trade Industry and Cooperatives and…
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Malaria remains a major public health concern in Uganda despite the several interventions the country has implemented to reduce the incidence of malaria, including the distribution of insecticide-treated bed nets, indoor residual spraying of insecticides, and the use of artemisinin-based combination therapy (ACT) as the first-line treatment for malaria. According to the 2021 World Health Report, Uganda contributed 5.4 per cent of malaria cases, and 3.5 per cent of deaths (caused by malaria) were registered in Africa, making it the 3rd highest statistic in the continent. An estimated 95% of the population is at risk of the disease. It is…
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