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By Julius Akais The landscape of agricultural financing in Uganda is undergoing a profound transformation, driven by a strategic approach that goes far beyond traditional lending models. At the heart…
Stanbic Uganda Holdings Limited (SUHL) has once again proven its financial strength, posting a record net profit of UGX 478 billion in 2024, up from UGX 411.5 billion in 2023,…
MTN is expected to complete the separation of its financial technology (Fintech) business from its listed company under MTN Uganda in the first half of this year. The separation, which MTN Group chief executive officer Ralph Mupita told Bloomberg is part of the requirements for a reorganization in preparation for a $200 million (UGX 732.2 billion) capital investment by Mastercard in the company’s Fintech business, is more advanced in Uganda and Ghana, but remains behind schedule in Nigeria due to a complex regulatory landscape that requires additional processes before the separation is finalised. In July last year, MTN Uganda, in…
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Navigating inflationary waters Bank of Uganda Deputy Governor, Micheal Atingi- Ego shares the story of Uganda’s monetary policy in 2024, which he says was one of cautious optimism and strategic actions, which helped keep core inflation (excluding volatile items like food crops and energy) stable. The BoU began the year with a Central Bank Rate (CBR) of 9.5%, gradually increasing it to 10.25% by April, before cautiously easing it to 9.75% by November. This signalled a balanced approach to maintaining monetary stability amidst external and domestic challenges. Concerns about exchange rate volatility, driven by the repositioning of yield-seeking offshore investors…
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By Steven Mwesige A flurry of incidents in the news of cybersecurity breaches in recent weeks are a cause for concern, but with a better understanding of cybersecurity need not be our new reality. In the old days, when transacting with your bank it was mostly face-to-face transactions. You would walk into the bank, line up to be served, meet a bank official who would help you transact whatever you wanted. That looks very crude these days where only two in ten transactions are carried out over the counter at PostBank, a statistic that is mirrored across the industry. The…
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Latest data from Bank of Uganda (BOU) shows Ugandan banks and other supervised financial institutions, remain profitable and adequately capitalised following a surge in net-after-tax profit to UGX 1.4 trillion registered for the Financial Year ending June 2024. The UGX 1.4 trillion is higher than the UGX 1.3 trillion registered in the year to June 2023, showing an increase by a billion shillings. The data is based on the BOU annual report published at the end of October. BOU noted that the net earnings in the review period were mainly driven by increased interest income and a reduction in provisions…
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In a significant step towards transforming Uganda’s business landscape, dfcu Bank has launched a new lending campaign aimed at empowering small and medium enterprises (SMEs) across the country. With over 60 years of heritage as a development finance institution, dfcu has been a driving force behind economic progress, providing businesses and communities with innovative financial solutions. The new campaign offers tailored financing options designed to bridge gaps in working capital, trade finance, asset financing, and business growth facilities. In this exclusive interview with the CEO Magazine, William Kayongo, Head of Enterprise Banking at dfcu Bank, discusses how the bank is…
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With more than two-thirds of Uganda’s population dependent on agriculture for a livelihood and a rapidly expanding population, investing in agriculture does not only boost food security but can also be a pathway to job creation. Equity Bank’s support towards improving the productivity of small-scale food producers through secure and equal access to land and inputs, knowledge, financial services and markets, holds immense promise for socio-economic transformation. Equity Bank has not only managed to support farmers but also other value chain players such as suppliers of inputs, processors, and aggregators. “For our agricultural lending, we started by focusing on smallholder…
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PostBank Uganda’s agriculture loan book has registered commendable growth of 70% over a four-year period, from UGX 107 billion in 2021 to a 70% growth rate by June 2024. This impressive performance can be attributed to several factors, including; favorable lending rates, government support, and other contributing elements. The Supervisor Agriculture and Partnerships at PostBank Uganda, Julius Akais attributed the impressive performance to several factors including, targeted financial products and value chains such as coffee, poultry, cattle keeping, grain trade (maize), and well-structured Agriculture loans that match the business or project cycle. He also noted other factors such as financial…
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