When Soumendra Sahu took over as Managing Director and Chief Executive Officer of Airtel Uganda in December 2024, he stepped into one of the most competitive, politically sensitive, and fast-evolving…
The cardiology specialist on courage, focus, introverted leadership and finding her ikigai In this instalment of our Letters to My Younger Self series, Dr. Amanda Kamatamu Mbonye reflects on a…
At a glance, the careers of Uganda’s leading executives appear polished, intentional and perfectly sequenced. The kind of journeys young professionals imagine when they picture success. But behind the confidence…
In the second instalment of our Letters to My Younger Self series, Jackie Namara, a Chartered Marketer, reflects on a life and career that has spanned more than 25 years…
The Association of Chartered Certified Accountants (ACCA) Uganda and Deloitte Uganda last evening hosted the 9th Edition of the Chief Financial Officer (CFO) Awards at the Kampala Serena Hotel, celebrating...
Esteemed Customers, Over the years, DTB has prided itself as a contributor to the financial well-being of our customers by offering them unmatched services and innovative solutions, anchored on convenience, agility in response and ease of access. The year 2022 was pivotal for DTB. It was also an inflection year for us, with the conceptualisation of our business growth strategy ushering in an exciting new phase in our journey towards achieving socioeconomic relevance. Underpinning the strategy is our over-arching objective, which is to contribute to Uganda’s social and economic growth in a meaningful, impactful, and sustainable way. This is by…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Despite the fact that the global economy is undergoing a sharper-than-expected slowdown amidst lingering fears of a recession, Uganda Revenue Authority (URA) reported that net revenue collections for the nine months of the FY 2022/23 reached UGX 17.53 trillion against a target of UGX 25.15 trillion. With three months left to go, this represents 69.72 per cent of the annual target. This is a substantial growth of 13.37 per cent or UGX 2.1 trillion compared to the same period in the FY 2021/22. Including the shortfall, this last quarter, URA has to collect UGX7.62 trillion, accounting for the remaining 30.28…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Dear Shareholders. I have the honour of writing this first letter to Shareholders in my capacity as Chief Executive Officer of Ecobank Transnational Incorporated, a position I have occupied since 1 March 2023. Over the years, Ecobank Group has consistently delivered value for Africa, Africans and friends of Africa. I am excited about the opportunities to deliver even greater value and continue to play our part in providing world-class financial services and contributing to the economic integration of the continent. Despite the challenging global macroeconomic environment, including the volatility affecting the banking sector, I am conscious of the significant opportunities…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
For starters, tell us about Emata Uganda. What is it about? Emata is a Ugandan fintech and licensed micro-finance institution. The company leverages technology and partnerships with agricultural cooperatives to offer farmers affordable, digital financing. In place of collateral requirements, the company creates alternative credit scores based on data points like a farmer’s delivery history. Emata encourages farmers to grow their farms into a business and invest in a productive future. We are disrupting the USD240 billion farmer financing opportunity in Africa. Globally, smallholder farmers struggle with financial exclusion. However, nowhere is the funding gap as big as in Africa:…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Ecobank Uganda registered a strong performance turnaround during the year ending 2022, with audited Profit before Tax (PBT) increasing by 157% to UGX 4.5 billion in 2022, while Profit After Tax (PAT) increased by 104% to UGX 401million in 2022 from a loss of UGX11.0 billion in 2021. Despite a challenging operating environment marred with high inflation, weakening African currencies, and slower economic growth, the bank’s total revenues increased by 8% to UGX 57.7 billion. Our investments in technology, digital capabilities and improved risk management models, drove cost efficiency, value for money and reduced our cost-to-serve, resulting in a 13%…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
The benefits of Orient Bank’s acquisition and subsequent rebranding to I&M Bank Uganda and thereafter integration into the larger I&M Group Plc are unfolding with the bank’s release of its first full year under the I&M brand. In results released today, the bank reported an 8.9% jump in customer deposits from UGX573.7 billion to UGX624.6 billion in 2022, reversing a 2-year declining trend in which deposits reduced from an all-time high of UGX673.5 billion in 2019 to UGX573.7 billion in 2021. Riding on a boost in customer deposits, the bank drove a 19% jump in lending⏤ from UGX196.8 billion to…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
In 2021, we looked forward to and planned for 2022 with a high degree of optimism as the COVID-19-induced lockdown approached its end. The reopening of the economy in January 2022 would signal the release of critical sectors that are key to driving business growth throughout the economy. However, lurking in the shadows was the crisis in Ukraine and the spillover effect this would have on the global business environment. In Uganda, this would translate into high energy prices and rising commodity prices which led to a higher cost of living and put a considerable strain on both individuals and…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
If you have listened to, seen or heard most adverts by banks these days, you must have heard at the end, a sign-off that, “deposits are protected by the Deposit Protection Fund of Uganda”. In case you didn’t already know, the Deposit Protection Fund of Uganda (DPF) is a government agency that provides deposit insurance to customers of deposit-taking institutions licensed by the Bank of Uganda. It was established as a separate entity by the Financial Institutions (Amended) Act, 2016, to ensure that in the unlikely event of failure/closure of a contributing institution, all depositors with UGX10 million and below…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Not only has he worked for the world’s leaders in digital payments at senior levels, but he has also done so at a scale. Molla is presently the Managing Director & Head of Sub-Saharan Africa for Banking Payments Commerce (BPC)- a region, covering 22 countries in Subsaharan Africa. Banking, Payments and Commerce (BPC) is a Switzerland headquartered global financial technology company that builds payment solutions for Central banks, commercial (neo)banks, issuers, acquirers, PSPs, transport operators and governments in over 100 countries across 5 continents. At BPC, Molla is leading the setting up of a BPC team while at…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
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…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
