A damning audit into the operations of the Microfinance Support Centre Limited (MSCL) reveals a sobering trail of missed targets, poor loan recovery, underutilised funds, and a ballooning portfolio of…
MTN Uganda has officially announced a landmark proposal to structurally separate its mobile money and fintech operations from the core telecommunications business, a move set to redefine the company’s financial services footprint in Uganda and align to the Group’s Ambition 2025 strategy. The proposed transaction, to be tabled for shareholder approval during an Extraordinary General Meeting (EGM) on Wednesday, July 2, 2025, involves the amalgamation of MTN Mobile Money (U) Limited (MTN MoMo) into a newly created entity, MTN New FinCo, which will become the surviving company. Once complete, MTN MoMo will be deregistered from the companies register, and MTN…
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Uganda’s economic model, widely known as “Musevenomics,” is facing a pivotal test, as stakeholders at the Musevenomics Conference 2025 called for bold reforms to address persistent gaps that threaten to…
PostBank Uganda emerged as the overall best-performing Tier 1 Bank recognised by the Bank of Uganda at the Award Ceremony for Participating Financial Institutions in the Agricultural Credit Facility (ACF)…
Stanbic Uganda Holdings Limited (SUHL) has once again proven its financial strength, posting a record net profit of UGX 478 billion in 2024, up from UGX 411.5 billion in 2023,…
Uganda Registration Services Bureau (URSB) registered a significant increase in borrower securities or collaterals under the Security Interest in Movable Property registry in the year ended June 2024, an indication of increased search for credit. Data contained in the URSB Annual Report for the 12 months to June 2024, indicates that during the period, borrowers registered double the number of securities against which more than 11,350 loans were advanced in the 2023/24 financial year. Data further indicates that registered securities – as collateral for loans – increased by 57.5, rising by 4,551 from 6,179 in the 12 months to June…
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Ugandans on average transacted UGX 159 trillion on MTN Mobile Money, which translated to UGX 435 billion per day for the 12 months to December 2024. Details contained in the…
By Damallie Nalukwago What is little understood generally is the importance of operations in brand building. The perception seems to be that brand building is about logos and fancy advertising. That is only part of the story. The components of a brand are building awareness, creating favorable associations and ensuring positive customer experience. When these are done well and consistently, brand loyalty is built, leading to more sales, through repeat engagement and customer referrals. The company’s marketing and communications function ensure the first two – building awareness and creating favorable associations, but it is Operations function’s day-to-day interactions with customers…
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The Uganda Tourism Association (UTA) President, Mrs. Yogi Biriggwa, has urged the government and development partners to direct more efforts and resources to accelerate post-pandemic tourism sector recovery. In a World Tourism Day 2024 speech delivered on her behalf by Mr Isa Kato, the Vice President, Yogi said that while there had been a near-full recovery of pre-pandemic figures, more investments were needed to meet the funding targets envisaged in the National Development Plan (NDP) III. According to the latest figures, international tourist receipts grew by 48.5% in 2023, from UGX.2.7 trillion in 2022 to UGX. 3.8 trillion (USD 1.01…
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PostBank Uganda (PBU) in partnership with MTN Mobile Money (U) Limited (MTN MoMo) have launched Xtracash, a digital micro lending solution that is positioned to extend short term facilities to MTN mobile money subscribers. This initiative is poised to provide approximately 13 million mobile wallet holders in the country with convenient access to financial assistance. XtraCash will be accessible through MTN mobile money, a leading mobile money operator, in partnership with PostBank Uganda as the financial partner providing much needed support to customers by extending micro-loans for everyday financial needs. While launching the new service, PostBank Uganda, Managing Director, Julius…
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