This year’s NSSF Annual Career Expo is expected to benefit over 5,000 students in seven universities countrywide, with a focus on empowering them with skills to succeed in the emerging gig economy. The two-week expo will be held from 17th April 2023 to 28th April at Makerere University Business School, Makerere University, ISBAT University, Kyambogo University, Uganda Martyrs University Nkozi, Bishop Stuart University and Kampala International University. Reflecting on the expo theme, Succeeding in the gig economy- the future of jobs, Patrick Ayota, the NSSF Ag. Managing Director challenged the youth to try alternative work opportunities to make a living…
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!
For many of us, 2022 seemed like the year we had been hoping for. We were going to put the pandemic behind us and find some sort of return to normalcy. Unfortunately, if the past two to three years have taught us anything, it is that we must be highly adaptable to volatility and uncertainty. According to data from the Ministry of Finance, the Ugandan economy grew by 4.7% in 2022, while both the Purchase Managers Index (PMI) and Business Tendency Index remained above the 50-mark threshold signalling optimism and improvement in economic conditions. On the supply side, services and…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Absa Bank Uganda has this morning released its 2022 financial results, reporting growth in deposits, lending, revenues as well as net profit and assets. The bank, a subsidiary of Absa Group, one of Africa’s largest financial services Groups announced that customer deposits in 2022, grew by UGX34.8 billion, from UGX2.42 trillion in 2021 to UGX2.46 trillion in 2022, a growth of 1.4%. Deposits’ growth was on the back of an “increase in the active customer base as a result of new-to-bank acquisitions and reactivation of inactive accounts”. “Additionally, there were increased customer engagements due to the capabilities built by the…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Three Justices of Appeal, led by Deputy Chief Justice Hon. Justice Richard Buteera, Hon. Justice Catherine Bamugemereire, and Hon. Mr. Justice Stephen Musota, have ordered Absa Bank Uganda, to pay Progressive Group Of Schools Ltd and its proprietors Ab’mooti Investments Ltd And Kaahwa Erisa Amooti for fraudulently and illegally foreclosing on their school and properties in 2009. Absa Bank Uganda is jointly liable with Luyanzi Academic Foundation, the company that bought the school from the Bank. The three justices dismissed Hon. Justice David Wangutusi’s High Court Ruling, Civil Suit No. 204 of 2009 (Commercial Division) delivered on 21st August 2019…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Absa Bank Uganda yesterday announced a donation worth UGX60 million to the Uganda Red Cross Society to cater for the purchase of shelter kits to provide temporary shelter and basic household essentials for families displaced by flash floods in Eastern Uganda. The donation is intended to strengthen the disaster response by providing essential relief supplies to affected people and families. While speaking to the Media this morning, the Absa Bank Managing Director expressed sympathies about the ongoing emergency and committed the bank’s resources to meet the needs of the most affected. “We believe this support will supplement the measures put…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Absa Bank Uganda and Prudential Uganda have today launched the Absa Family Protection Plan, a life insurance policy, designed to help families plan for the financial needs faced during the loss of a loved one who is either a member or immediate member of a family. The policy caters to funeral expenses and other paybacks to help families navigate the unexpected hardships that arise during times of loss and grief. The cover is available to customers in three attractive packages of UGX 5,000, UGX, 10,000 and UGX 20,000 per month. Speaking to the media, Michael Segwaya, Absa Bank Uganda’s Executive…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Absa Bank Uganda has announced a profit after tax of UGX110 billion for the year ended December 2021, representing a 169% growth in profitability from the previous year. “Despite a tough operating environment, economic recovery was faster than anticipated evidenced by the remarkably resilient performance and expansion of the economy by an estimated 5.3%. Private sector business growth was underpinned by a rebound in activity in agriculture, construction, and public administration. We registered a significant drop in impairment of 77.8% as a result of increased improvement in the construct of our loan book indicating a faster than anticipated recovery from…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Absa Bank Uganda has hosted selected journalists to an in-depth analysis of the financial markets ahead of the unveiling of the 2021 Africa Financial Markets Index (AFMI) report on Tuesday 25th January 2022. The training, led by David Wandera, Absa Uganda’s Executive Director and Head of Markets, was aimed at providing a platform for the media to get a better understanding of Uganda’s financial markets. The index is conducted by Absa Group in partnership with the Official Monetary and Financial Institutions Forum (OMFIF) acts as a guide to be used by policymakers and market participants to promote open, accessible and…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
Absa Bank Uganda will offer a two-month repayment holiday on salary loans to customers as schools reopen in January. The offer is available on salary loans with competitive interest rates for sums between UGX1 million to UGX250 million. “The pandemic has created economic pressures sending many into financial distress. With the impending school reopening, we are aware that parents will face challenges meeting school fees obligations. With our salary loan offering, we will be able to provide support to our customers by providing a two-month repayment break valid for all salary loans with zero arrangement fees. Customers can also apply…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
