Citi Bank Archives – CEO East Africa

Uganda Gov’t plans to borrow over UGX 5.8 trillion in a single sitting amid rising debt concerns

Paul MurungiBanking & Financial Services East Africa News & Analysis Politics & Goverment The Big StoryMarch 25, 2025March 25, 2025

A leaked memo from the Office of the Prime Minister reveals that the government of Uganda plans to review and possibly approve borrowing proposals amounting to over USD 1.6 billion (UGX 5.8 trillion) during a cabinet-level meeting scheduled for Wednesday, March 26, 2025. The meeting, convened by the Prime Minister, is expected to consider 12 separate loan requests from various ministries and government agencies, targeting key sectors such as roads, energy, water, health, agriculture, and financial services. Loan proposals listed in the memo: €186.97 million and an additional €19.46 million from the African Development Bank for the Busega–Mpigi Expressway. €198.6…

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MTN Uganda secures UGX 370 billion debt from five local banks

Paul MurungiThe Big StoryDecember 31, 2024January 1, 2025

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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BIG SIZE: Who are the big banks financing Airtel Uganda?

Muhereza KyamuteteraNews & Analysis The Big StoryMarch 16, 2024March 16, 2024

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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