The Big Story

DETAILS: How digital thieves made away with UGX1.3 bn from Pride Microfinance

Muhereza KyamuteteraBusiness & MarketsNews & AnalysisThe Big StoryJune 1, 2023June 5, 2023

Pride Microfinance Limited a government of Uganda-owned deposit-taking Microfinance institution was early May 2023 hacked and UGX1.3 billion stolen, CEO East Africa Magazine can exclusively reveal.  Although the financial institution…

Explainer: How Are Startups Valued?

Jonathan N. LubwamaBusiness & MarketsEntrepreneurshipNews & AnalysisTechnology & InnovationThe Big StoryJune 1, 2023June 1, 2023

In startups and general businesses, valuation refers to the process of determining the financial worth or value of a company. It is an estimation of what the market considers the…

UK’s Creditinfo Group acquires Experian credit bureaus in Uganda and Namibia  

Muhereza KyamuteteraBusiness & MarketsCompany NewsThe Big StoryMay 30, 2023May 31, 2023

Creditinfo Group, one of the leading global service providers for credit information and risk management solutions, has announced that it has acquired the operations of Experian Uganda and Namibia.  As…

NSSF bags a record UGX 31.5 bn in dividends from MTN Uganda

CEO ReporterBusiness & MarketsThe Big StoryMay 29, 2023May 29, 2023

The National Social Security Fund (NSSF) has earned a total of UGX 31.5 billion as dividends for the year ended December 31, 2022, from its investment in MTN Uganda.  NSSF…

Ugandan Fintech Zofi Cash Raises USD 1 Million to Disrupt the Salary Advance Industry in Africa. 

Jonathan N. LubwamaC-Suite LeadershipEntrepreneurshipExecutive ProfilesTechnology & InnovationThe Big StoryMay 29, 2023May 30, 2023

Ugandan fintech, Zofi Cash, has raised USD 1 Million in a pre-seed round from Advancly. The funding round, which is purely debt, will see Zofi Cash extend its salary advance…

How Paul Kirungi Left a Six-Figure Job in the USA to Start a Startup in Uganda.

Jonathan N. LubwamaEntrepreneurshipExecutive ProfilesTechnology & InnovationThe Big StoryMay 26, 2023May 26, 2023

In September 2012, Paul Kirungi arrived at New York’s John F. Kennedy International Airport, with one goal in mind, to pursue the American dream. Paul had decided to leave behind…

Joram Ongura quits SBG Securities’ Chief Executive role after 3 years 

Muhereza KyamuteteraCompany NewsThe Big StoryMay 25, 2023May 25, 2023

After three years with Stanbic Uganda Holdings Limited (SUHL), Joram Ongura, will be leaving his role as Chief Executive for SBG Securities Uganda Limited (SBG Securities) effective the end of…

African Banker Awards 2023: Letshego Wins Affirmative Finance Action for Women in Africa Award

Muhereza KyamuteteraBusiness & MarketsCompany NewsThe Big StoryMay 25, 2023May 29, 2023

Letshego Nigeria has won the prestigious 2023  Affirmative Finance Action for Women in Africa (AFAWA) Award at the just-ended African Banker Awards. The awards were held in Sharm-El-Sheikh, Egypt on…

EAC Partner States remain committed to implementing the Common Market Protocol

The CEO Magazine TeamNews & AnalysisThe Big StoryMay 24, 2023May 24, 2023

East African Community (EAC) Partner States’ commitments to the free movement of capital, services and goods is the bedrock of trade integration in East Africa, EAC Secretary General, Hon. (Dr.)…

With new leadership, a richer product portfolio, a new home and plant, Hariss International looks to another era of growth

The CEO Magazine TeamCompany NewsNews & AnalysisThe Big StoryMay 23, 2023May 23, 2023

Hariss International Limited, the makers of Riham products, is currently undergoing a significant leadership transition on the back of investing in a new manufacturing plant to keep up with the…