The Bank of Uganda (BoU) has issued an operating license to Pearl Bank Uganda Limited, which formerly operated as PostBank Uganda, paving the way for the institution to commence business under its new name and identity. The license was handed to the Bank’s Managing Director, Mr. Julius Kakeeto, by the Bank of Uganda Governor, Dr. Michael Atingi-Ego, a symbolic phase in the Bank’s rebrand journey, signifying its official crossover from PostBank to its current designation, Pearl Bank Uganda Limited. The regulatory approval to rebrand to Pearl Bank follows the Bank’s five-year transformation strategy and its earlier elevation to a Tier…
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In the high-pressure corridors of corporate Uganda, where profit margins and shareholder returns dominate boardroom agendas, an unexpected theme is rising to the forefront of leadership: faith in God. Across…
In what is likely his first in-depth public interview since his appointment as Governor of the Bank of Uganda (BoU) on February 10, 2025, Dr. Michael Atingi-Ego—calm, collected, and quietly…
Many analysts agree that the Ugandan economy in 2024 exhibited remarkable resilience, navigating a landscape fraught with global uncertainties and regional challenges. At the centre of this performance was Dr Michael Atingi-Ego, Deputy Governor of the Bank of Uganda (BoU). In his end-of-year reflections, Dr. Atingi-Ego highlighted the pivotal actions underpinning this economic stability, crediting a mix of strategic monetary policies and innovative reforms. Here are ten standout actions he led to stabilise the economy: 1. Stabilizing Inflation Uganda maintained one of Africa’s lowest and most stable inflation rates in 2024. The BoU raised the Central Bank Rate (CBR) from…
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Hardly two years after arriving in Uganda to take up her very first CEO role at Uganda’s largest telco, MTN Uganda, Sylvia Mulinge has emerged as Uganda’s most admired CEO, in the CEO East Africa Magazine’s inaugural 100 Leading & Most Admired CEOs In Uganda Survey. The 2-in-1 CEO East Africa Magazine’s Most Trusted and Respected Companies & The Most Admired CEOs in Uganda Survey 2024 is part of the magazine’s thought leadership agenda that seeks to create a body of knowledge on what exactly great companies and great leaders are made of, as well as recognise them. “This, we…
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The Bank of Uganda has awarded Standard Chartered Bank, the Best Performing Primary Dealer Market Maker (PDDM)of the year for the year ending September 2023. The Primary Dealer Market Makers system was launched in 2005 to enhance the government securities market by improving liquidity, pricing efficiency, and secondary market trading activity. There are 08 banks playing this role. They are Absa, Centenary, Citi, dfcu, Equity, Housing Finance, Stanbic and Standard Chartered Bank. Citibank and Equity are the latest entrants to the PDMM system. To arrive at the best dealer, the Central Bank’s performance criteria focused on posting two-way pricing…
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The Standard Bank Group (SBG) Chief Executive Sim Tshabalala and Board Chairman Nonkululeko Nyembezi were reportedly in Uganda for two days, last week, during which they held meetings with different stakeholders including with officials of the Central Bank with whom they discussed the ongoing executive leadership changes at Stanbic Bank. The Standard Bank Group is the majority owner of Stanbic Uganda Holdings Limited (SUHL) the listed entity that operates Stanbic Properties, Stanbic Business Incubator, SBG Securities, FlyHub, and Stanbic Bank—the country’s largest commercial lender. According to inside sources, the Thursday, April 4, 2024 meeting was attended by among others, the…
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It’s no longer a question of what, but when. The government of Uganda says it will gradually phase out small denomination paper notes as one of the measures to reduce the cost of printing and circulating money. This is the second time the Bank of Uganda is committing to the recommendations of the International Monetary Fund (IMF) to reduce the cost of money. “Given high currency printing costs, we have conducted a market study to compare printing costs, and a cost-benefit analysis of replacing low denomination banknotes with coins,” the government told IMF in June last year in a letter…
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In just four months after its launch, PostBank Uganda’s digital wallet, Wendi has hit a record UGX200 billion in payments to over 200,000 Parish Development Model (PDM) beneficiaries countrywide. According to statistics released by the company, this record has been facilitated by Wendi’s robust network of PostBank payment platforms as well as those of its bank partners and mobile money companies. “Since its launch in November 2023, Wendi has onboarded more than 430,000 subscribers and over 2,000 agents countrywide. These agents are complemented by the numerous touchpoints of our partners; MTN Uganda and Airtel Uganda, who have over 250,000 agents…
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