The past five years have not gone particularly well for Uganda’s billionaire class. Once the undisputed symbols of local enterprise and ambition, several of the country’s most prominent businessmen have found themselves entangled in complex financial and legal battles — most of them involving commercial banks and cross-border lenders. Among them, Hamis Kiggundu, the property and retail magnate behind Ham Enterprises, waged one of Uganda’s most closely watched banking disputes. His companies owed USD 4,014,444 to Diamond Trust Bank Uganda and USD 6,974,600 to Diamond Trust Bank Kenya — a combined USD 10.99 million (approximately UGX 40 billion) in credit…
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Shares of NCBA Group Plc have hit an all-time high of KSh 75.25, rising 8.27 percent from KSh 69.50, after confirmation that Africa’s largest lender, Standard Bank Group Ltd., is in advanced talks to acquire the Kenyan bank — a deal that could dramatically reshape the structure and ownership of Kenya’s banking sector. According to Bloomberg, the Johannesburg-based banking giant, which holds a 75 percent stake in Nairobi-listed Stanbic Holdings Plc, has already received internal approvals to engage NCBA in buyout negotiations. If completed, the merger would create Kenya’s third-largest lender by assets, with a combined balance sheet of approximately…
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As early as 4:30am, Divine Kobusigye the Senior Five Mobiliser at St Julian Secondary School was already dressed in her sparkling well pressed white Shirt and Kaaki skirt. She was…
Uganda’s banking sector has never been stronger on paper. And the Bank of Uganda’s latest Financial Soundness Indicators show why. Banks, the indicators show, are heavily capitalized, flush with liquidity, profitable, and increasingly resilient. Regulatory capital sits above 25% of risk-weighted assets, double the global standards. Non-performing loans have fallen from 5.2% to 4.1% in a year, while liquidity coverage ratios have surged to an extraordinary 580%. Returns on equity remain a solid 16 to 17%. In short, Uganda’s banks are safe, liquid, and among the most profitable in the region. Yet behind this impressive stability lies a nagging paradox:…
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Imagine Amina, a young mother in Kampala, waiting every month for money sent by her brother working abroad. That money pays for her children’s school fees, medicine, and food. But…
Equity Bank has been named Best Regional Bank in East Africa at the 2025 African Banker Awards held in Abidjan, Côte d’Ivoire. This prestigious award highlights the Bank’s significant role in deepening financial inclusion, empowering communities, and promoting sustainable economic development across East Africa. Equity Bank’s recognition is a reflection of its impactful presence across the region, driven by a purpose-led approach, customer-centric innovation, and strong support for small and medium-sized enterprises (SMEs). The award affirms the growing influence of regional financial institutions in shaping the continent’s economic future. Equity Group Managing Director and CEO, Dr. James Mwangi said “We…
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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…
A consortium of commercial banks has initiated proceedings to auction off several prime properties belonging to the late billionaire businessman, Apollo Nyegamehe, popularly known as Aponye, in a sweeping debt recovery effort targeting loan arrears exceeding UGX 15 billion. According to sources close to the matter, dfcu Bank and the Uganda Development Bank (UDB) are among the financial institutions actively pursuing recovery of non-performing loans that were extended to Aponye’s business empire, primarily through his flagship company, Aponye (U) Limited. The debt portfolio, which has grown due to interest accumulation and prolonged non-repayment, is reportedly higher than initially estimated, with…
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In a landmark decision, Equity Group has received shareholder approval to establish a Representative Office in the United Arab Emirates (UAE), marking a significant step in its strategic expansion beyond…
The wave of integrity audits that saw over 1,200 employees sacked in Kenya is now sweeping across Equity Group’s subsidiaries in East Africa, with Uganda the latest to feel the…
