Uganda’s banking sector has never been stronger on paper. And the Bank of Uganda’s latest Financial Soundness Indicators show why. Banks, the indicators show, are heavily capitalized, flush with liquidity, profitable, and increasingly resilient. Regulatory capital sits above 25% of risk-weighted assets, double the global standards. Non-performing loans have fallen from 5.2% to 4.1% in a year, while liquidity coverage ratios have surged to an extraordinary 580%. Returns on equity remain a solid 16 to 17%. In short, Uganda’s banks are safe, liquid, and among the most profitable in the region. Yet behind this impressive stability lies a nagging paradox:…
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Imagine a young software developer in Kampala. He’s just finished building a smart-contract application that could help farmers track produce payments without relying on brokers. He’s hopeful, energized, but frustrated. Because while his app runs on cryptocurrency protocols, Uganda doesn’t recognize any of that as legal tender. His innovation, though technically sound and globally viable, floats in a legal grey zone. That’s not just his dilemma—it’s Uganda’s. Back in October 2019, Finance Minister Matia Kasaija declared before the country that government does not recognize any cryptocurrency as legal tender. It was a firm stance, probably grounded in caution, but one…
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Uganda Electricity Distribution Company Limited (UEDCL), which has managed the country’s electricity distribution assets for 53 days since Umeme’s exit, has secured a USD 25 million (UGX 91 billion) loan…
Absa Bank Uganda has announced the appointment of David Wandera as its new Managing Director, effective 5 May, 2025, following regulatory approval from the Bank of Uganda. He succeeds Mumba Kalifungwa who joined Stanbic Bank, and therefore, becomes the first Ugandan to hold the position in the bank’s more than 90-year history in Uganda. David is an accomplished banker with over 20 years of diverse experience in business leadership, financial management, strategy and stakeholder engagement. Prior to this appointment, he served as Executive Director charged with the responsibility of delivering operational efficiencies within Absa Bank Uganda. He played a critical…
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MTN Uganda has secured UGX 370 billion (USD 100 Million) in debt financing in one of the largest local currency debt transactions in Uganda, which will be used by the telecom for general corporate purposes including the expansion and improvement of the network. The syndicated debt facility from five local banks was 1.6x oversubscribed, in what the telecom described as, “reflecting robust confidence from lenders in MTN’s long-term potential and focus on expanding its digital and financial services offerings.” The syndicated facility was led by Stanbic Bank Uganda Limited (part of the Standard Bank Group) as the Global Coordinator, Mandated…
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Corporate reputation is an aggregate of public perceptions about an organisation’s social, political, ethical and business behaviour and how people engage with that organisation based on these perceptions. Ultimately, this…
Absa Group has marked a historic milestone with the official launch of a non-banking subsidiary in the People’s Republic of China, fortifying the vital economic bridge between Africa and China. The Absa office in China will operate under a wholly foreign-owned enterprise license which permits the financial institution to provide general advisory services to clients based in China for concluding transactions across the African continent, as a non-banking subsidiary of Absa Group Limited. The office will also distribute economic or general securities research reports permitted by Chinese regulation to corporate and institutional clients in China and across the African markets. …
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Absa Bank Uganda in partnership with World Vision has commissioned a fully functional borehole and a changing room facility that will positively address menstrual hygiene challenges faced by 900 girls enrolled at Awach Primary School in Abim District. The commissioning was also preceded by special training of girls, teachers, and parents in the production of reusable sanitary pads. This is an intervention intended to promote the continued inclusion of girls in education across Karamoja sub-region, and a joint effort reflecting the commitment by both partners to support transformational and sustainable development for different communities in Uganda. Speaking at the commissioning…
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While announcing Mumba Kalifungwa’s appointment as Absa Bank Uganda’s Managing Director, on March 23rh 2020, Nadine Byarugaba, the Board Chairman said the bank had all faith in the new Managing Director’s ability to lead the bank to new horizons. “We have no doubt that Mumba’s experience across several African markets, deep knowledge of the bank, as well as his demonstrated strategic and operational vision will be invaluable as Absa firms its position on the continent,” she said. Even though this was the first time Mumba was taking on a CEO role, Saviour Chibiya, the then Regional MD for Absa Regional…
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It was the famous personal finance guru, Robert Kiyosaki, of the “Rich Dad Poor Dad,” book fame, that coined the “Other People’s Money (OPM)” mantra, advancing that, to turbocharge growth, one need not rely on their own money alone. He advanced, that with masterful utilisation of “OPM” one didn’t have to wait for their savings to grow, but rather they could leverage funds from external sources to quickly grow. “By understanding how to make money using other people’s money,” Kiyosaki says, “you can make the leap from employee to business owner or professional investor.” It is particularly even easier for…
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