In a financial world increasingly shaped by agile Fintechs and digital-first lenders, dfcu is something of an old soul. At 60 years old, it carries the legacy—and the burden—of being one of Uganda’s most established financial institutions. But legacy alone doesn’t guarantee relevance. For years, dfcu wrestled with stagnating earnings, a flatlining share price, reputational bruises from Crane Bank acquisition, and skeptical investors. Yet 2024 marked a stunning reversal. Group profits surged by 151% to UGX72 billion. Non-performing loans halved and the share price, long stuck in neutral, appreciated by 12%—a quiet but significant signal to markets. “This underscores our…
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On Saturday, September 14, Uganda Breweries Ltd (UBL) hosted several industry captains and business moguls as they relaunched the highly anticipated Johnnie Walker Blue Club. The landmark event, held at the picturesque Pineapple Bay Island, a premier venue known for its exclusivity and prestige, marked a significant moment in Uganda’s business landscape. The exclusive Club is a premier networking platform designed to foster meaningful connections and unlock new opportunities for its members. A reserve for individuals who epitomise excellence and distinction, the club offers meticulously curated events that seamlessly merge business discourse with refined luxury. The re-launch on Saturday was…
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Since reaching FID in February 2022, Uganda has kicked off a massive oil drilling campaign with four oil rigs⏤ three of them at the TotalEnergies-operated USD4-5 billionTilenga Project in Buliisa and Nwoya districts, and one rig at the CNOOC-run USD2-3 billionKingfisher Project in Kikuube in the Albertine Graben. As of June 2024, TotalEnergies had made considerable progress in drilling over 35 oil wells with a projection of drilling 98 wells by the end of 2024. Seven oil wells had so far been drilled at the KingFisher Project alongside other engineering, procurement, and construction (EPC) works. Construction works for the USD5…
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Mr. Jimmy Douglas Mugerwa and Dr. Aminah Zawedde have been reappointed to the dfcu Limited Board of Directors after being seconded by shareholders at the Annual General Meeting that was held last week at Hotel Africana in Kampala. Mr Mugerwa will serve as Chairman of the Board of Directors while Dr Zawedde will serve as a Non- Executive Director on the dfcu Limited Board, the holding company of dfcu Bank. The two were bound to retire from the Board but offered themselves for re- election. Mugerwa is the founder and Chief Exective Officer of Zoramu Consulting Group Ltd, a senior…
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dfcu Bank is set to pay a final dividend of UGX 6.8 billion to its 3,851 shareholders by August 31st after the Board of Directors made a final approval at the Annual General Meeting held at Hotel Africana on Thursday this week. Speaking on behalf of the Board of Directors, Mr Jimmy Mugerwa, the Chairman Board said the bank upheld a strong tradition of shareholder returns, proposing a dividend of UGX 9.10 per share for 2023 which represents a 2.1 percent increase from the UGX 8.91 per share distributed in 2022, underscoring our unwavering commitment to enhancing shareholder value. Mr….
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9th October 1962 – in a highly anticipated ceremony, the official flag for Uganda was hoisted, to signify the end of colonial rule and the start of a new era of Independence for the country. Uganda had been a British Protectorate from 1984 and on the same day, the Union Jack, the national flag of the United Kingdom was lowered. Two years after the historic National Independence Day, dfcu Limited opened its doors. Originally, it was set up as a development finance institution by the UK’s Colonial (later Commonwealth) Development Corporation (CDC) and the Government of Uganda. Six decades and…
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On Saturday, June 24, 2023, the new Rotary Club of Kigo Seven Lakes Golf celebrated its Charter Ceremony at an elegant event held at the prestigious lake-shore Lake Victoria Serena Golf Resort & Spa Resort, in Kigo, Wakiso District, on the outskirts of the Kampala City. With an impressive turnout, the event marked a significant milestone in the club’s history, as it officially chartered with 54 esteemed members. The night was nothing short of extraordinary, as it attracted high-profile guests, including business captains, political leaders, diplomats, and traditional leaders; thanks to the new club President, Jimmy Mugerwa, a celebrated…
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On Friday, 9 December 2022, celebrated businessman Amos Nzeyi hosted peers and industry captains to an exclusive Johnnie Walker Blue Club event held at his new residence in Kigo, on the outskirts of Kampala. The guest list ranged from the diplomatic corps to industry captains, top businessmen and women, and golfers. Nzeyi, an avid collector of fine whisky, had his guests taken on a journey through the world of Scotch by the Johnnie Walker Reserve Brand Ambassador Agaba Tumusiime, Johnnie Walker Brand Manager Christine Kyokunda, and Scotch Brand Ambassador Marcus Kwikiriza. Set in a sublime atmosphere, a range of Johnnie…
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Ugandan business leaders have expressed unequivocal support for the East African Crude Oil Pipeline (EACOP), a project they say will guarantee Uganda’s energy security as well as improve the livelihoods of Ugandans. In a joint statement to the Conference of the Parties (COP) 27, the business leaders said: “As Ugandan private business leaders, we register our support to the Lake Albert Oil & Gas Development project which will secure the supply of Petroleum Products to our domestic market, with the construction of a refinery and the commercialization of Liquefied Petroleum Gas (LPG). The remaining products will be evacuated to the…
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Uganda’s Japheth Katto and Jimmy Mugerwa have been re-elected to the Board of East African Breweries Limited – EABL, a Kenyan-based holding company that manufactures branded beer, spirits, and non-alcoholic beverages. Jimmy maintains his position as the Director of the company whereas Katto continues as a member of the committee. This, according to Kathryne Maundu, the Company Secretary was passed at the annual general meeting for the year 2022 held on Thursday, 15th September. “It was proposed by James Patrick Okado, seconded by Peter Kanja Mwaniki and resolved by majority vote, that Jimmy Mugerwa be and is hereby re-elected as…
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