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Absa Bank Uganda has entered into an agreement to acquire the Wealth and Retail Banking (WRB) business of Standard Chartered Bank Uganda. The acquisition marks a major shift in Uganda’s…
Bank of Uganda is set to regulate operations of mortgage refinancing institutions once the Mortgage Refinance Institutions Bill, 2025 is passed into law. The Bill mandates the Central Bank to…
By Gloria Kunihira Mujuni, Head -Retail Products, dfcu Bank. Access to finance is a fundamental pillar for economic growth, yet many individuals, small businesses, and educational institutions in Uganda struggle…
The bridge between agency banking and Islamic banking could revolutionize the way banking services are delivered and consumed in Uganda. When Islamic banking was introduced in Uganda, it generated a mix of skepticism and excitement. Rooted in Shari’ah principles that emphasize ethical and accessible financial solutions, the concept intrigued both Muslim and non-Muslim communities. However, despite the amendment of the Financial Institutions Act in 2016 to accommodate Islamic banking and the subsequent establishment of Shari’ah-compliant financial institutions, the sector’s growth has remained sluggish. This slow expansion persists despite the availability of competitive product offerings tailored to Uganda’s diverse financial landscape….
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The Uganda Bankers’ Association (UBA) has reaffirmed its commitment to supporting the Ugandan government’s ambitious economic expansion strategy, which aims to grow the country’s GDP from USD 50 billion to USD 500 billion by 2040. Speaking at the 2025 UBA CEO Retreat, UBA Chairperson Julius Kakeeto emphasised the critical role of the banking sector in facilitating this transformation. He stated, “Finance is a key enabler. Appropriate financing is the key word here! There is a common belief that the strength of a nation depends on the depth and strength of its financial system.” He further underscored the importance of financial…
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Imagine stepping into Africa’s booming financial sector with a community behind you, ready to help you connect, grow, and lead. Becoming a member of the Kigali International Financial Centre (KIFC) is like joining an exclusive club designed to supercharge your business’s journey through Africa’s exciting financial sector. Whether you are looking to approach regulatory hurdles, broaden your network, or amplify your brand’s visibility, KIFC membership has you covered. Why Join KIFC? KIFC is not just a place; it is a movement at the heart of Africa’s financial evolution. As a leading hub for international investment and financial services, KIFC offers…
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