Absa Bank Uganda has announced the appointment of David Wandera as its new Managing Director, effective 5 May, 2025, following regulatory approval from the Bank of Uganda. He succeeds Mumba Kalifungwa who joined Stanbic Bank, and therefore, becomes the first Ugandan to hold the position in the bank’s more than 90-year history in Uganda. David is an accomplished banker with over 20 years of diverse experience in business leadership, financial management, strategy and stakeholder engagement. Prior to this appointment, he served as Executive Director charged with the responsibility of delivering operational efficiencies within Absa Bank Uganda. He played a critical…
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Absa Bank Uganda has announced robust financial performance for the year ended December 31, 2024, registering a 22% increase in net profit to UGX 178 billion, up from UGX 145.76…
Former Capital Markets Authority (CMA) Chief Executive Officer, Keith Kalyegira, has been appointed Chairperson of the Board of Directors at Absa Bank Uganda, effective 1 March 2025. Kalyegira brings more…
The Board of Directors of Airtel Uganda Limited has, according to Rules 36(2) and 54 of the Uganda Securities Exchange Listing Rules 2021, appointed Mrs. Suzan Mweheire Kitariko as an Independent Non-Executive Director and Mr. Keith Kalyegira as a Non-Executive Director. The appointment took effect on 26th March, 2024. In a statement, Airtel says, Mrs. Suzan Mweheire Kitariko “brings a wealth of experience and expertise in both Telecommunications and strategic leadership having previously served as Regional Manager East Africa, Google Uganda, Head of Strategy and Transversal Projects, Orange Telecom Uganda”. Suzan is currently the General Manager of SICPA Uganda. “Her…
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Josephine Okui Okwakol Ossiya CPA, FCCA, MBA, has been appointed as the next Chief Executive Officer of Uganda’s Capital Markets Authority (CMA). She replaces Keith Kalyegira who has been the CMA Chief Executive since December 2013 and his two-term office has elapsed. Established in 1996 under the Capital Markets Authority Act (Cap 84), the CMA promotes, develops and regulates Uganda’s capital markets industry. One of Uganda’s most respected and trusted finance professionals and business leaders, Josephine Ossiya brings to CMA a 27-year finance career and a wealth of management, finance and accounting as well as project management skills. As a…
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After serving two terms in office, Keith Kalyegira will this December step down. In this interview with CEO East Africa’s Muhereza Kyamutetera, he shares a variety of insights on his time at the capital markets authority, what needs to be done to accelerate the growth of capital markets and what is next after CMA. Let us start with a recap of the last 10 years at the helm of the Capital Markets Authority (CMAs); what would you say were your highs, lows, and key milestones/achievements? I think the main achievement that I’m proud of is the decision we made to…
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Standard Chartered Bank has launched the SC Shilingi Funds⏤ a low-ticket money market fund for Standard Chartered Bank clientele that is 100% digital and available on the SC Mobile app. SC Shilingi Funds allows clients to invest amounts of as low as UGX20,000, and earn competitive interest as well as be able to withdraw their funds anytime. Standard Chartered Bank is the first bank to offer such a proposition in the market. The launch event was held at Kampala Sheraton Hotel on 21st June 2023 and was presided over by the Minister of ICT Dr. Chris Baryomunsi; the Bank’s CEO,…
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The National Social Security Fund (NSSF) has won their fourth Gold Award in Financial Reporting, beating 108 organisations which submitted their annual reports for evaluation in the 2022 Financial Reporting (FiRe) Awards competition. In second position came Stanbic Uganda Holdings Limited, taking the Silver Award, while Centenary Rural Development Group Limited came third with the Bronze Award. While presenting the Award to the Fund, the Chairperson of the FiRe Awards Committee, CPA Stephen Ineget noted that the organisation provided a clear and detailed explanation of its value-creation process, highlighting the key inputs, business activities, outputs, and outcomes. NSSF also won…
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The Capital Markets Authority (CMA) has attained UGX1.15 trillion in Assets Under Management (AUM) by licensed Collective Investment Scheme (CIS) managers, representing savings mobilized from Ugandans. This is a major milestone in Uganda’s march towards financial inclusion and savings mobilization that has been attained three years ahead of schedule according to the CMA’s four-year Strategic Development Plan (2021/22 – 2024/25). CMA’s data indicates that licensed CIS Managers who include; UAP-Old Mutual Financial Services Limited, ICEA Lion Asset Management Limited, Britam Asset Managers Uganda Limited, Xeno Technologies Uganda Limited, and Sanlam Investments East Africa Limited had a total of UGX 1,147.9…
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Sanlam Investment East Africa has launched a new, and cost-effective investment option dubbed Sanlam Income Fund in an effort to boost the creation of wealth and investment in the capital markets for Ugandans. The Fund was officially launched by Keith Kalyegira – Chief Executive Officer, Capital Markets Authority (CMA), Mark Mulatya- Chief Operating Officer Sanlam Investments East Africa and Martin Nsubuga, Chief Executive Officer, Uganda Retirement Benefits Regulatory Authority (URBRA) at Kampala Serena Hotel, on September 7th, 2021. Speaking at the launch, Mulatya noted that Sanlam believes in improving people’s lives by empowering them to be financially stable through wealth…
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