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The cultural jewel that is Ndere Centre, home of Uganda’s internationally acclaimed Ndere Troupe, is teetering on the brink of foreclosure, despite a Presidential directives aimed at rescuing it from…
A trillion shillings has been disbursed to Parish Development Model (PDM) beneficiaries through Wendi, a digital wallet developed by PostBank Uganda, marking a significant milestone in Uganda’s push for financial…
Uganda Electricity Distribution Company Limited (UEDCL), which has managed the country’s electricity distribution assets for 53 days since Umeme’s exit, has secured a USD 25 million (UGX 91 billion) loan…
Money lenders and some private sector players have warned of dire consequences to the economy over the new interest cap of 2.8 percent per month for money lenders instituted by the Uganda Microfinance Regulatory Authority (UMRA) and approved by the Ministry of Finance. Jonan Kandwanaho, the Chair of the Association of Money Lenders in Uganda (AMLU) said his team is considering court action, while other options are still being discussed since there were no prior consultations made to stakeholders. UMRA, Ministry of Finance and money lenders have been in a cat and mouse relationship over the last few years over…
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Leaders from various Savings and Credit Cooperative Organizations (SACCOs) have commended Stanbic Bank for its commitment to empowering and skilling members of the SACCO community. The event held at Tuzza Hotel in Bushenyi brought together over 100 leaders from across the West Ankole Region, who gathered for a financial literacy training organized by Stanbic Bank under its Financial Fitness Academy arm. The SACCOs present were from districts of Rukungiri, Mitooma, Rubirizi, Sheema, Bushenyi and Buhweju. Turyamureeba Paul Kahigi, the Chairperson Board of Kyamuhunga People’s SACCO expressed his gratitude for the initiative, noting that the training has significantly impacted their ability…
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PostBank Uganda (PBU) in partnership with MTN Mobile Money (U) Limited (MTN MoMo) have launched Xtracash, a digital micro lending solution that is positioned to extend short term facilities to MTN mobile money subscribers. This initiative is poised to provide approximately 13 million mobile wallet holders in the country with convenient access to financial assistance. XtraCash will be accessible through MTN mobile money, a leading mobile money operator, in partnership with PostBank Uganda as the financial partner providing much needed support to customers by extending micro-loans for everyday financial needs. While launching the new service, PostBank Uganda, Managing Director, Julius…
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The Corporate and Investment Banking (CIB) section of Stanbic Bank Uganda—a member of the Standard Bank Group, has launched a new campaign dubbed, “We believe in here” aimed at underscoring the lender’s commitment to its purpose of ‘driving Uganda’s growth.’ As one of the world’s most entrepreneurial countries, Stanbic Bank believes that supporting the local business community is the best way to drive Uganda’s growth and that what entrepreneurs need is a commercial bank that believes in their dreams. Paul Bitature Muganwa, the CIB Executive Head at Stanbic Bank Uganda said: “Our new campaign—we believe in here” is a rallying…
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Lucky Dube. Boys II Men. These aren’t names usually associated with banking. However, it speaks volumes to the kind of trailblazer that dfcu Bank is and how it’s helped to support other Ugandan trailblazers and transform Uganda society in the process. It’s a little over 30 years since dfcu agreed to finance the startup of Capital Radio in 1993, the second FM radio station to start operating in the country following the liberalization of the radio industry by the government. At the time, most banks did not think FM stations would be a hit in this market, and so Capital…
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