Stanbic Bank’s Head of Personal Banking, Israel Arinaitwe, often returns to a lesson Adam Smith captured in The Wealth of Nations: economic progress depends on a society’s stock of capital. To him, it’s not just a theory—it’s a mindset Ugandans can adopt to improve their lives today and strengthen the future for generations to come. In an interview with the CEO East Africa Magazine, Israel frames that idea through Stanbic Bank’s latest brand campaign, Keep Growing. He describes it as more than a slogan, rather, a national call to action aligned to the bank’s purpose. “At Stanbic, we say, Uganda…
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The B20 Summit places productivity and resilience at the heart of Africa’s economic future. Which structural weaknesses in Africa concern you most, and how is Sanlam positioning itself to strengthen resilience against these vulnerabilities? If you start geographically, there’s a major challenge because of just the sheer size of the place, the fact that the population is actually mostly along the coastline of Africa, with this vast interior. A lot of challenges in terms of infrastructure, movement of goods and people and so on, but I think over time, we would like to see more investment in infrastructure in Africa….
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The United States of America has moved to reset relations with Uganda, with Secretary of State Marco Rubio speaking by phone with President Yoweri Museveni about “opportunities to deepen U.S.–Uganda cooperation on migration, reciprocal trade, and commercial ties.” In a readout attributable to U.S Principal Deputy Spokesperson Tommy Pigott, the U.S Secretary who spoke to President Museveni yesterday also thanked Uganda for serving as a pillar of regional stability through its peacekeeping roles in East Africa. The outreach comes as both sides test whether months of friction over rights and aid can give way to a more pragmatic and economics-first…
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The National Social Security Fund (NSSF) is projecting robust performance at the close of the Financial Year 2024/25, with income expected to reach UGX 3 trillion and assets under management forecasted to grow to UGX 25 trillion—marking a continued upward trajectory for Uganda’s largest retirement benefits scheme. This projection represents significant year-on-year growth, building on the UGX 2.53 trillion in income and UGX 22.13 trillion in assets that the Fund recorded at the close of the Financial Year ended June 30, 2024. In light of the strong financial performance, NSSF is expected to declare a competitive interest rate to members…
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Uganda’s economic model, widely known as “Musevenomics,” is facing a pivotal test, as stakeholders at the Musevenomics Conference 2025 called for bold reforms to address persistent gaps that threaten to…
East African Breweries Limited (EABL), one of the crown jewels in Kenya’s corporate sector, is now at the centre of market speculation following a broader strategic pivot by its parent company, Diageo PLC, which has been steadily retreating from several African markets. According to a report by Business Daily Africa, the British beverages giant on Tuesday unveiled a sweeping $500 million (KSh64.65 billion) cost-cutting and asset disposal programme as part of what it calls an “asset-light model,” a strategy designed to reduce exposure to volatility in emerging markets and boost returns. The Nairobi Securities Exchange-listed EABL, in which Diageo holds…
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The Tax Appeals Tribunal has ordered the Uganda Revenue Authority (URA) to refund over USD 2.5 million (UGX 9.1 billion) to East Africa Marine Transport Company Limited (EAMT). The ruling, delivered on April 30, 2025, centered on a disputed Value Added Tax (VAT) charged on the purchase of M.V. Mpungu, the first scheduled roll-on/roll-off freight vessel operating on Lake Victoria. The tribunal found that URA had wrongly levied VAT on the vessel, despite EAMT’s investment being eligible for VAT exemption under Uganda’s laws encouraging strategic sector development. EAMT, a logistics and marine transport company, had committed to invest at least…
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By Julius Akais Osauro In Uganda, agriculture is not just an economic sector, it is the heartbeat of the nation resting on the shoulders of its smallholder farmers. Yet, these…
Stanbic Uganda Holdings Limited (SUHL), the parent company of Stanbic Bank Uganda and four other subsidiaries, has announced a record net profit of UGX 478 billion for the financial year…
Airtel’s Managing Director, Mr Soumendra Sahu has confirmed a plan to double Airtel’s investment in data, which will be a key priority this year and beyond, as the telco maintains…
