On Saturday, November 30th, 2024, Uganda woke up to the news that the ebullient Anthony Kituuka had resigned as Managing Director of Equity Bank in Uganda. The news that Anthony had resigned to “pursue other opportunities outside the organisation” was announced to all bank staff in an impromptu but mandatory online meeting at 11 am on Saturday, October 30th 2024, by Mark Ocitti, the bank’s Board Chairman. Almost simultaneously, a media statement was released, announcing the resignation and thanking Anthony for “his years of service” and “his dedication and trust in the brand”. Despite announcing to staff that Anthony would…
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Two years after he took over the management of Equity Bank in Uganda, Anthony Kituuka has resigned, the CEO East Africa Magazine can exclusively reveal. According to an internal memo that CEO East Africa Magazine has seen, Anthony will leave the Bank on 1st March 2025. “I wish to inform you that Anthony Kituuka has tendered his resignation from his role as Managing Director, Equity Bank Uganda Limited, in order to pursue other opportunities outside the organization. The Board of Directors of Equity Bank Uganda Limited accepted Anthony’s resignation on 28th November 2024 and have subsequently informed the Bank of…
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Equity Bank, in partnership with the Confederation of Indian Industries (CII), today officially kicked off the India-Uganda Trade Mission in Kampala. This two-day high-level event, from 22nd to 23rd October 2024, brings together a delegation of entrepreneurs from India and leading Ugandan business leaders to strengthen bilateral trade between the two nations. The trade mission focuses on key sectors including health, information technology, agriculture, energy, roads and transport, tourism, real estate and defence – industries critical to Uganda’s development and India’s expertise. The mission aims to foster new partnerships, increase investment, and enhance trade cooperation between India and Uganda. L-R:…
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Equity Bank Uganda is commemorating the Customer Service Week 2024 with a series of engaging events for clients, customers, and staff across the country. Starting October 7th to 11th, the bank has embraced the theme “Above & Beyond,” celebrating its commitment to exceptional customer service with special promotions, unique deals, and surprise activities aimed at thanking customers for their loyalty. As part of the celebrations, Equity Bank’s Senior Executive Management, including the Heads of Departments, swapped their corporate roles for frontline duties at various branches. Executives were seen welcoming clients, opening accounts, registering mobile banking users, and engaging in one-on-one…
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Equity Bank Uganda has embarked on a strategic mission to strengthen its relationship with Ugandans living and working in the United Arab Emirates (UAE) by offering specialized financial and banking services. This is in response to several calls from Ugandans living in the region for customized financial solutions. The bank’s team is currently in Abu Dhabi and Dubai to directly engage with its diaspora clients under the initiative “Equity Goes to UAE.” This visit is part of the bank’s participation in International Customer Service Month 2024, themed “Above & Beyond,” which emphasizes its commitment to going the extra mile for…
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To overcome the current transformative or disruptive business environment, SMEs have been encouraged to take up more technology-based banking and financing solutions from Equity Bank Uganda. These remarks were made by Mr. James Olany the Strategy & Business Manager at Equity Bank Uganda at a Top 100 SME networking forum held at the Sheraton Kampala where Technology was the main theme for the event. “As a result of emerging technologies such as blockchain technology, cryptocurrencies, artificial intelligence and machine learning, these advancements have not only shaped the operational strategies but also set new standards of how customers are to be…
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Equity Bank Uganda has extended its support worth UGX 10 million towards the Watoto Golf Tournament set to happen this Saturday, August 10th 2024, at the Uganda Golf Club. Organised by Watoto Church Uganda, the tournament is part of the 40th Anniversary celebrations and seeks to raise resources to upskill learners and equip Hope Vocational and Technical Institute. The proceeds will go towards equipping the different departments with the necessary vocational training tools and resources needed to facilitate learning of up to 1,400 students. Equity Bank Managing Director, Anthony Kituuka highlighted Equity Bank’s partnership and sponsorship, as this demonstrates the…
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Despite having received UGX578.4 billion (USD million) in capitalisation from the government of Uganda, part of which was to be used to settle his indebtedness with Equity Bank, controversial pharma-entrepreneur, Matthias Magoola is yet to repay Equity Bank and Equity Bank Kenya. In a surprising plot twist, he has instead turned around to sue the two banks for a raft of accusations, top of which is a claim that the two banks, irregularly and unlawfully debited and or inflated the loans by UGX 47,652,951,120/= from the accounts of his two firms⏤ Dei Industries International Ltd And Dei Biopharma Ltd (formerly…
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Following the national budget reading for the financial year 2024/2025, Equity Bank Uganda has launched an initiative to support regional small and medium enterprises (SMEs). Dubbed Tupange Business Ne Equity, the initiative aims to address SME challenges and provide support in crucial areas such as credit, innovation, and market access. The Bank’s efforts to translate the complex national budget into actionable opportunities for SMEs is a significant part of this initiative. The Bank began its stakeholder engagement on June 19th in Kampala and subsequent sessions have been held in Jinja, Soroti, Lira with future sessions planned for Mbarara and Luwero….
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The Ugandan national budget for 2024/2025 was approved by Parliament, with a total expenditure of UGX72.136 trillion. The biggest portion of this⏤ UGX31.98 trillion will be financed by domestic revenues and domestic borrowing (UGX8.97 trillion), project support (UGX9.58 trillion) and budget support (UGX1.39 trillion) amongst other sources. Expenditure on wages and salaries is projected to amount to UGX7.926 trillion while non-wage recurrent expenditure shall be UGX17.454 trillion. Development expenditure from own resources is projected at UGX6.152 trillion, while external project financing shall be UGX9.584 trillion. UGX3.15 trillion has been allocated to external debt repayment amongst others. GDP is projected to…
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