Daisy Nitwe Archives – CEO East Africa

Big Dreams Need a Big Bank — and the 9 Other Things I Took Away from the Stanbic Bank Economic Forum 2026

Muhereza KyamuteteraBanking & Financial Services The Big StoryFebruary 19, 2026February 19, 2026

2026 finds Uganda at a rare convergence of economic catalysts and structural pressures. First oil is nearing. Gold is redefining export performance. Technology — particularly AI — is compressing the…

We are committed to due process, Stanbic breaks silence on mortgaged property sale scandal

CEO ReporterCompany NewsSeptember 29, 2020September 29, 2020

Stanbic has finally broken its silence on a case under investigation where seven of its executives are accused of conniving and cheaply selling to themselves a mortgaged property. In a 28th September press statement by management, the bank acknowledges a criminal complaint against some of its employees. “A criminal complaint against some of our employees arising from a property foreclosure process following a consent judgement against one of our clients has been brought to our attention,” the statement reads. Last week, the bank came into the spot light after one of their clients, Macdowel Limited, asked police to investigate circumstances…

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CAUGHT IN THE ACT: It took 52 days for senior Stanbic Bank executives to register a company, secure a loan, and buy on the cheap, a loan-stressed client’s property!

CEO ReporterThe Big StorySeptember 26, 2020September 26, 2020

Myriad Investment Club Ltd, a company belonging to Stanbic Bank’s senior executives that are accused of colluding with other bank staff to buy off, very cheaply, a property of a distressed client was registered weeks after the property had been advertised for auction, an investigation by this news site has discovered. According to documents seen by this website, in what appears to be a swift and carefully orchestrated insider dealing scandal, it took Myriad Investment Club less than two months to register, secure a bank loan and buy off Plots 1,3,4,5 and 6 Works Close, Luzira on the 25th of…

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IRRESPONSIBLE LENDING AND INSIDER TRADING: Stanbic Bank senior executives accused of cheaply selling to themselves client’s property

Muhereza KyamuteteraThe Big StorySeptember 26, 2020September 26, 2020

A client of Stanbic Bank Limited, Macdowel Limited, has asked police to investigate circumstances under which seven senior executives of Stanbic Bank Uganda, sold to themselves a mortgaged property on the cheap. Beatrice Odongo, a director of Macdowel, in a 23rd September 2020 letter to the Special Investigations Division of the Criminal Investigations Directorate, has asked police to investigate circumstances under which their property was illegally sold, yet the loan has been repaid. Under s.39(2) and (3) of The Mortgage Act, the sale of mortgaged property by a bank to its employees is a crime punishable by imprisonment of not…

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