The Big Story Archives – Page 111 of 424

Bank of Uganda winds up Mercantile Credit Bank after 30 years of banking

Paul MurungiNews & Analysis The Big StoryJune 18, 2024June 18, 2024

The Bank of Uganda has today June 18th placed Mercantile Credit Bank Limited under liquidation, revoked its license, and made an order for the winding up of its affairs of the bank’s affairs. Bank of Uganda Deputy Governor, Mr Micheal Atingi- Ego noted in a statement action is necessary because the it has been determined that the continuation of Mercantile…

31 years on the airwaves– How a dfcu loan financed the startup of Capital Radio in 1993

Paul MurungiBusiness & Markets The Big StoryJune 18, 2024June 18, 2024

Lucky Dube. Boys II Men. These aren’t names usually associated with banking. However, it speaks volumes to the kind of trailblazer that dfcu Bank is and how it’s helped to support other Ugandan trailblazers and transform Uganda society in the process. It’s a little over 30 years since dfcu agreed to finance the startup of Capital Radio in 1993, the…

Building an empire from bricks and mortar – the story of Simon Ssekankya, the man behind Hardware World – East Africa’s first Hardware supermarket

Paul MurungiExecutive Profiles The Big StoryJune 17, 2024June 17, 2024

There can’t be too many bankers who choose to leave the hallowed halls of banking for the dusty and gritty world of concrete factories and stone quarries but that’s exactly what Simon Ssekankya, founder of Hardware World, did in 2001. To be fair, he has come a long way since those early days and spends more time now in his…

UGANDANS EXCELLING ABROAD: Inside Samuel Ssentongo’s Meteoric Rise from Uganda to Australia’s Reserve Bank.

Jonathan N. LubwamaExecutive Profiles The Big StoryJune 17, 2024June 17, 2024

In February of this year, Samuel Sentongo joined the Reserve Bank of Australia as a Security Architect. The Reserve Bank of Australia is the country’s apex bank, equivalent to the…

10 Business Leadership Tips By Simpson Birungi, the Billionaire Maverick Founder of Movit Products⏤ East Africa’s Largest Homegrown Personal Care Company

Jonathan N. LubwamaBillionaires Business & Markets C-Suite Leadership The Big Story Thought LeadershipJune 15, 2024June 15, 2024

Simpson Birungi founded Movit Products Ltd in 1997, starting with a makeshift workshop in Namasuba, Wakiso District. Since then, the company has grown into a multi-billion enterprise, becoming one of…

NATIONAL BUDGET: Who will eat a bigger pie under Uganda’s four priority sectors in the new financial year

Paul MurungiNews & Analysis The Big StoryJune 14, 2024June 14, 2024

Finance Minister, Matia Kasaija yesterday unveiled the top four priority sectors in the 72 trillion Budget for the next Financial Year 2024/25 beginning July 1st. Presenting the National Budget at Kololo Ceremonial Grounds on June 13th, Kasaija gave a glowing perspective of Uganda’s economic outlook as, “positive and optimistic.” “The economy has remained resilient and has fully recovered from a…

WOMEN FIXING UGANDA: Amanda Kabagambe, Partner and Head of East Africa, TLG Capital

Muhereza KyamuteteraThe Big Story Women In LeadershipJune 13, 2024June 13, 2024

Amanda Kabagambe is a Partner and Head of East Africa for TLG Capital. She is also the Chairperson of the Uganda Chapter and a Member Board of Directors of the…

DStv’s MultiChoice Group technically insolvent after historical loss of USD 200 million in 29 years

Paul MurungiBusiness & Markets The Big StoryJune 13, 2024June 14, 2024

South Africa’s MultiChoice Group, the parent company of DStv, has registered its worst financial performance in its history revealing a loss of ZAR 4.1 billion (USD 222 million) for the financial year that ended March 2024, after a loss of ZAR 2.9 billion (USD 157 million) in the previous financial year in March, 2023. The Group suffered a 9% decline in…

UCC opposes Uganda Telecom private investor’s demands to monopolise govt business

CEO ReporterBusiness & Markets The Big StoryJune 11, 2024September 27, 2024

Uganda Communications Commission (UCC) has opposed the idea of government giving preferential treatment Uganda Telecom in securing government business over other telecoms, warning that it could present a number of challenges to the industry from a regulatory perspective. Telecoms currently mint cash from government largely through voice services, which supplements heavily to their bottom line and financial health. UCC’s warning arises…

Q&A WITH CHARLES MUDIWA⎮ After 60 years, dfcu Bank is as involved and committed to transforming lives and businesses into the future

CEO East Africa MagazineCEO Perspectives News & Analysis The Big StoryJune 10, 2024June 10, 2024

The banking industry has evolved since the bank’s inception in 1964. How has dfcu Bank adapted to these changes? The financial sector and banking industry have undergone major transformations that…

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Nicholas Mukasa Appointed Bank of Namibia Deputy Governor

Unresolved Commercial Disputes Climb to UGX 3.5 Trillion as Chief Justice Zeija and BoU Governor Atingi-Ego Push for ADR

Kenya’s High Court Clears Path for KSh 300 Billion Asahi–Diageo Deal Despite Ongoing Distribution Dispute

Nigeria’s Zenith Bank Acquires Kenya’s Paramount Bank as Profits Hit ₦1.04 Trillion