On a bright October week that also marked four decades of Ecobank’s presence in Africa, Ecobank Uganda chose to celebrate not with ceremony for its own sake, but with an investment in children often left at the margins of education systems. At the heart of the bank’s 13th Ecobank Day activities was a simple proposition: that inclusive, quality learning isn’t a charitable add-on, it is a development necessity, and technology can help make it real. A CSR tradition that has grown into a movement Since launching Ecobank Day in 2013, the Ecobank Group has turned a single day of corporate…
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The High Court’s Commercial Division has granted businessman Thomson Ricky Rapa unconditional leave to defend himself in a high-stakes loan dispute with Ecobank. The ruling spotlights the handling of insurance-linked loan facilities by commercial banks. Presiding Judge Patience T.E. Rubagumya ruled that Rapa had presented bona fide triable issues deserving of a full hearing after he claimed that his UGX 180 million salary loan from Ecobank was insured against loss of income, a position the bank flatly denied. Background to the dispute Court documents show that Rapa applied for a salary-backed loan of UGX 180 million from Ecobank on March…
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As Uganda’s economy gains momentum in its post-pandemic rebound, a quiet contradiction is taking shape in the financial sector. On the surface, there’s cause for celebration. Mobile money volumes are…
Seasoned Banker and former Equity Bank Executive Director for Public and Social Investments, Elizabeth Mwerinde Kasedde has been appointed to lead commercial banking operations at EcoBank. Ms. Mwerinde took to her LinkedIn account today to share the news of her executive appointment. Ecobank is a pan-African banking conglomerate which opened its doors to Uganda in 2009, with banking operations in 33 African countries. Ms Mwerinde is an experienced senior banker with a rich career spanning over 26 years, primarily within the banking sector, encompassing corporate, commercial and international finance. Mwerinde kicked off her career in 1998 as Manager of Trade…
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Ecobank has launched its new Consumer Banking solutions promotion dubbed, “KUBA DABO DABO,” which translates to “Double Your Benefits”. The promotion allows customers applying for a Personal Loan to also get a Salary Advance that can be availed instantly once they dial *235#. The promotion also has an option for customers to take up a Home Loan and Personal loan combo at very competitive rates. For clients wishing to invest their money in local bonds, they can do so and borrow against their investment for smaller short-term needs. The campaign is designed to empower individuals and transform their lives through…
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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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Ecobank Group, the leading pan-African banking Group, and The Pan African Payment and Settlement System (PAPSS) have signed a Memorandum of Understanding (MoU) to facilitate the settlement of cross-border transactions of the Group, including the transactions of all their subsidiaries, through PAPSS. The MoU was signed on Monday, 19 June 2023 during the opening ceremony of the 30th Afreximbank Annual Meeting (AAM) held in Accra, Ghana. The opening was honoured by the presence of H.E. Nana Akufo Addo, President of the Republic of Ghana and other African Heads of State, Professor Benedict Oramah, President of Afreximbank, H.E. Wamkele Mene, Secretary…
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Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group⏤a major Pan-African bank with banking operations in 33 countries across the continent. The Group also has a licensed operation in Paris and representative offices in Addis Ababa, Beijing, Dubai, Johannesburg and London. According to a public notice by ETI, signed by Madibinet Cisse, the Group General Counsel and Company Secretary, the meeting will be held at Ecobank Pan African Centre’s Conference Centre, on 2365 Boulevard du Mono, starting at 10.30 am GMT. Following the AGM, there will also be an Extraordinary General Meeting whose main agenda is fundraising. The…
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Ecobank Uganda has today announced that it has partnered with financial technology firm, MTN Mobile Money Uganda Limited (MTN MoMo) to enable mobile money traders, merchants, and consumers to access electronic cash commonly known as float at any of Ecobank’s branches and Digital solutions (Omni Lite and Omni Plus) countrywide. “We are delighted to partner with the largest and most subscribed financial technology company in Uganda, to ease access to mobile money float in our effort to enable our business and individual customers to #GoForMore. This partnership is in line with Ecobank’s strategic pillar of partnership to scale. At Ecobank,…
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Ecobank Uganda registered a strong performance turnaround during the year ending 2022, with audited Profit before Tax (PBT) increasing by 157% to UGX 4.5 billion in 2022, while Profit After Tax (PAT) increased by 104% to UGX 401million in 2022 from a loss of UGX11.0 billion in 2021. Despite a challenging operating environment marred with high inflation, weakening African currencies, and slower economic growth, the bank’s total revenues increased by 8% to UGX 57.7 billion. Our investments in technology, digital capabilities and improved risk management models, drove cost efficiency, value for money and reduced our cost-to-serve, resulting in a 13%…
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