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This April, Rwandans in Rwanda and the world over commemorate 30 years (Kwibuka30) after the ghastly genocide in which more than 1,000,000 Tutsi, were killed. But like the Rwandan President Paul Kagame, remarked at the Kwibuka30, this year’s commemoration is a mix of both “grief and gratitude in equal measure”. “We remember our dead and are also grateful for what Rwanda has become,” Kagame told friends of Rwanda at the ceremony held at the Kigali Genocide Memorial, in Kigali, Rwanda, on Sunday, April 7, 2024. The genocide began on April 7th 1994. The East African nation, under the leadership…
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XENO, a goal-based investment service that helps people to plan, save, and invest for their financial goals, appointed Ms. Gladys Kavuma as the Chief Operating Officer. Kavuma has over 13 years’ experience in the financial services industry and has led teams across Africa in Strategy, Business Development, Digital Transformation, Project Management and Treasury Management functions. She was most recently the Head of Strategic Alliances at NCBA Group, a leading regional financial services institution famous for pioneering mobile savings and loans solutions (M-Shwari, M-Pawa & MoKash) in collaboration with some of Africa’s largest mobile network operators. She believes that digital and…
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Anthony Ndegwa, the current Managing Director of CBA Bank Uganda, has been designated the new Managing Director of NCBA Bank Uganda Ltd- a new entity resulting out of a merger between CBA Bank Uganda and NC Bank Uganda. CEO East Africa can also exclusively reveal that Sam Ntulume NC Bank Uganda’s current Managing Director as well as Mark Muyobo, the NC Bank Uganda’s current Executive Director, have been designated Executive Directors of the now bigger bank with assets in excess of UGX548 billion as at March 2020. The merged entity will command about 2% of the market share and will…
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Bank of Uganda has cleared the merger of two out-of-Nairobi banks- NC Bank Uganda and Commercial Bank of Africa. The two as per 2019 results were the 19th and 21st largest banks by assets respectively and the merger will pave way for Uganda’s 15th largest bank- out of 25 licensed banks. The merged entity will also control well over UGX281 billion in lending and UGX370 billion in customer deposits- roughly 2% market share. CBA entered Uganda in 2014, while NC Bank received a commercial banking license from the Bank of Uganda in April 2012 and opened for business in May 2012. In a joint statement issued by…
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The Central Bank of Kenya and the National Treasury have granted approval for the merger of NIC Group PLC and Commercial Bank of Africa Limited (CBA), paving way for the creation of Kenya’s 3rd largest bank by assets. The new merged Group will be called NCBA Group PLC and the Kenya operating bank will be known as NCBA Bank Kenya PLC. The approval was published in the Kenya Gazette of Friday, 27th September 2019 and the union took effect on Monday, 30th September 2019. “This name is the coming together of NIC and CBA and is just the beginning of…
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