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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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East African investment firm DOB Equity has announced the appointment of Cikü Mugambi as its new investment director. Mugambi brings 15 years of investment and operational experience across Africa, with a strong track record of deploying capital into high-impact businesses. She started her career at KPMG’s audit and deal advisory teams before joining the International Finance Corporation, where she led equity investments in technology startups and venture capital funds across sub-Saharan Africa. Most recently, she served as CEO of Kobo360, a digital logistics platform. At DOB Equity, Mugambi will focus on identifying and backing local founders building scalable solutions to Africa’s most…
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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 Limited in partnership with KPMG and Daily Monitor has officially launched the 2024 Uganda Top 100 SME survey campaign under the theme: ‘Empowering SMEs for a Monetized Uganda: Catalysing Growth through Innovation, Sustainability, and Market Access.’ The campaign seeks to identify Uganda’s fastest-growing and medium-sized companies that demonstrate business excellence and showcase some of the country’s most successful and powerful entrepreneurship stories. The campaign targets SMEs with a turnover of UGX 360 million to UGX 25 billion engaging them in a 3-month survey which will culminate in a gala dinner in December. Equity Bank’s participation as the…
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The Institute of Certified Public Accountants of Uganda (ICPAU) will hold the 27th Annual Seminar of accountants from 31 August to 2 September 2022 at the Imperial Resort Beach Hotel, Entebbe, and online. The theme for the Seminar is Resilience in a Dynamic Environment. The theme was selected based on the prevalent persistent disruptions and the need for accountants to remain steadfast in their service to their organisations and communities. “Accountants hold pivotal roles in organisations. Therefore, it is important for them to equip themselves for various scenarios through continuous learning so that they can adequately support organisations and the…
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Seven of the global biggest audit firms, working in the United Kingdom, including the so-called Big Four – EY, KPMG, Deloitte and PwC yet again, failed to meet the audit…
Report of the Presidential Tripartite Committee PricewaterhouseCoopers LLP (PwC) and KPMG, two of the world’s largest “big 4” accounting firms were fined £4,550,000 and £6 million respectively for audit breaches…
The Financial Reporting Council (FRC), the UK regulator for transparency and integrity in business has said it is “disappointed
“It’s not the first time a company has dropped them (KPMG) and I suspect it won’t be the last time,
Two of the auditing firms shortlisted by the Auditor General to examine Bank of Uganda operations in relation to the now controversial sale of Crane Bank to dfcu Bank among other…
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