In a financial sector often driven by balance sheets and bottom lines, Joseph Mugume has spent 25 years proving that sustainable growth begins with people. As Chief Executive Officer of...
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…
In 2018, the Uganda National Bureau of Standards (UNBS), conducted an operation in Kampala. It raided two prominent malls; Energy Centre and Light Centre Arcade. The majority of the shops in these two malls sell electronics. At the end of its operation, UNBS concluded that 80% of all electronics sold were counterfeit. This is not surprising. One common feature of e-commerce in Uganda is the phenomenon aptly summarized as, “what you ordered vs what you received”. To change this, Stephen Obeli Someday founded Kweli.shop, an e-commerce startup that has made it a goal to sell only genuine electronics. “We have…
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BDF was started by the late Hon. Caesar Joseph Magara in 1964, on a small piece of land in Kitoba village, Hoima district. Caesar Magara was a Member of Parliament in the 1980s. When he passed on, the family inherited the business with John Fitzgerald Magara, as the Managing Director. The other children are also involved in the running of the business as directors. The family expanded the farm and continued selling unprocessed milk. Later on, BDF diversified into the manufacturing of Extra Neutral Alcohol (ethanol)- an important base for spirits and alcoholic beverages, within the food and beverage industry,…
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Nexus Green Limited, the company contracted by the government of Uganda to construct 687 solar-powered water irrigation sites across the country, has said the project is on course for completion by 2024. The company says that by the end of 2023, it will have constructed at least 400 solar-powered water irrigation sites in the Northern and Eastern with the remaining 287 sites to be completed in 2024. The project was first approved by the Parliament of Uganda in September 2021 and a financing agreement between the Government of Uganda (GoU) and the Export Credits Guarantee Department of the UK (UKEF)…
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As the back-to-school season continues, especially for senior one and senior five students, Ecobank Uganda has launched Edusave Loan- an affordable, flexible, and convenient personal loan for parents with school-going children. The product focuses on helping parents finance their children’s educational needs such as school fees, uniforms and books among others. “Existing Ecobank Customers qualify for or can top up their current loans to a tune of UGX 280 million while non-Ecobank customers can simply transfer their loans to Ecobank and get 1% of the loan amount deducted and credited to their Edusave policy. The unsecured loans under this arrangement…
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I&M Bank Uganda, formerly Orient Bank, is set to officially launch at its Kingdom Kampala branch, a one-of-a-kind service that enhances its digital offering and caters to changing customer needs. Tailored for both high-net-worth individuals and corporate clients, the new branch hosts the I&M Select Banking suite, a Corporate Banking Centre and a 24-hour ATM. The branch shall also have a 24/7 digital self-service hub known as the I&M Digital Pod, which will give the clients a chance to experience what a fully independent digital bank can offer. Annette Nakiyaga, the bank’s Head of Marketing and Corporate Affairs said the latest…
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Today, February 11th, the world marks the International Day of Women and Girls in Science, against the backdrop of growing climate change concerns and health crises. This, together with the growing role of and demand for technology and digitalisation makes the demand for more hands-on the job more evident than ever before. “Individuals with advanced skills in science, technology, engineering and mathematics (STEM) are crucial to pushing us to new frontiers as well as tackle urgent challenges. However, the potential of one group has been consistently under-harnessed in this regard: women,” observes World Bank’s Ekua Nuama Bentil, Ruth Charo,…
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What is the Wezimbe Unit Trust? Wezimbe Unit Trust is an investment product that enables you to pool your money together with other investors to create a large fund. This Fund is managed by a professional Unit Trust Manager who invests in a wide range of securities e.g. Shares, Treasury bonds, Treasury bills etc) to get a favourable return on your investment. Does it offer a fixed rate of return on your investment? No, the rate of return on your investment depends on the trends in the investment environment and financial markets. The likelihood of no return on investment is…
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Startups are companies that are built to grow fast. This was well articulated by Y Combinator’s Paul Graham in his 2004 article startups = growth. In this article, Paul Graham argued that what sets startups apart from small businesses/companies is their ability to scale and to scale fast. For startups to be able to achieve this kind of scale, they turn to external investors. You see, if a startup grew internally, it will have to rely on its profits. This is called bootstrapping. The problem with bootstrapping is that the growth is limited to how much money a startup can…
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Uganda Electricity Transmission Company Limited (UETCL) has announced today that Joshua Karamagi, CFA, has been appointed as its new CEO. UETCL is a Government of Uganda 100% owned company that purchases electricity in bulk from generating companies and sells it to distribution companies throughout Uganda. He replaces George Rwabajungu who resigned in August 2022. Taremwa Micheal Kananura has been holding the CEO position in an acting capacity for the last five months. Karamagi will assume office on the 1st of March 2023. An accomplished finance professional and business leader, he brings to UETCL over 25 years of CFO experience, 8…
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Nile Breweries Ltd recently appointed a new Country Director for Uganda & South Sudan, Adu Rando. He replaces David Valencia, who has now moved to become the Commercial Strategy Director, Africa Zone for ABInBev. A Brazil native, Rando has been part of the ABI-InBev, Nile Breweries’ parent company for the last 20 years, having served in Brazil, China and most recently, Tanzania. Prior to moving to Uganda, he served as Route To Market Director Greater Africa, AB InBev, based in Dar es Salaam Tanzania from 2021. Rando started his career in the On-trade channel as Sales Supervisor in 2003, then…
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