When Dr. Patricia Ojangole took the helm of Uganda Development Bank (UDB) in December 2012, the Bank was managing just UGX 173 billion in assets, with a modest lending portfolio…
Hardly two years after arriving in Uganda to take up her very first CEO role at Uganda’s largest telco, MTN Uganda, Sylvia Mulinge has emerged as Uganda’s most admired CEO, in the CEO East Africa Magazine’s inaugural 100 Leading & Most Admired CEOs In Uganda Survey. The 2-in-1 CEO East Africa Magazine’s Most Trusted and Respected Companies & The Most Admired CEOs in Uganda Survey 2024 is part of the magazine’s thought leadership agenda that seeks to create a body of knowledge on what exactly great companies and great leaders are made of, as well as recognise them. “This, we…
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Uganda Development Bank Ltd (UDB), the country’s national Development Finance Institution has released its 2023 results, reporting what the bank says is a “continued pivotal role in fostering economic resilience and sustainable growth across key sectors of the economy”. According to the results, released during the Annual General Meeting held at the Ministry of Finance, Planning, and Economic Development, the Bank continued to grow, with total assets closing at UGX1.67 trillion in 2023, a 10% uplift from UGX1.52 trillion the previous year. This was largely boosted by growth in new loans⏤ new loans disbursed in 2023 amounted to UGX610 billion,…
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Members of the Uganda Bankers’ Association (UBA) held their annual general meeting on the 17th May 2024 and elected Mr. Julius Kakeeto, as the Association’s new Chairman. He replaces Ms. Sarah Arapta whose two-year term of office (2021 & 2023) has elapsed. Mr. Kakeeto is the Chief Executive Officer of Post Bank Uganda and has been serving as the Vice Chairperson for two years (2021 & 2023) Other members elected on the Executive Committee of UBA are Michael Mugabi, the CEO of Housing Finance Bank as the Vice Chairman; Edgar Byamah, the CEO of KCB Bank, as the Treasurer and…
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The Uganda Bankers’ Association’s Chairperson, Citibank’s Sarah Arapta is female too- the first woman to. Some financial institutions such as Finance Trust Bank- have taken it further by having an all-female Board Chairperson, CEO and Executive Director while others like Stanbic Bank, Uganda’s largest Bank and have both CEO and Executive Director as female. You could argue this is still under-representation, which it actually is, given that there are more females than males in the population, but given where we have come from, this is good progress. Some of the largest banks such as Stanbic where 45% is female and…
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Uganda Development Bank (UDB), the country’s key strategic partner in delivering socio-economic transformation through sustainable financial interventions, on April 4th launched the UDB Climate Finance Facility (CFF)⏤ a strategic Fund that will make available affordable finance that aims to promote climate-smart agriculture, ensure climate resilient infrastructure and low carbon industries. Addressing guests at the launch, the Managing Director UDB Ms. Patricia Ojangole said “the increasing threat of climate change and environmental degradation has the potential to present high socio-economic risks to the economy”. “As the impacts continue to manifest through floods, drought, landslides, animal and crop epidemics among other signs…
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Over the years, financial inclusion has emerged as one of the key drivers of inclusive socio-economic development, especially in developing countries. The human development discourse is therefore incomplete without addressing issues of financial inclusion. This is because creating an adequate level of financial inclusion enables individuals and entities to fully participate in the national economy. Specifically, financial inclusion, or an inclusive financial market, especially in digitised form, reduces inequality by facilitating consumption, payments and money transfers, and business operations as well as realising the benefits from financial products such as savings and credit. Financial inclusion also promotes the growth of…
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BDF was started by the late Hon. Caesar Joseph Magara in 1964, on a small piece of land in Kitoba village, Hoima district. Caesar Magara was a Member of Parliament in the 1980s. When he passed on, the family inherited the business with John Fitzgerald Magara, as the Managing Director. The other children are also involved in the running of the business as directors. The family expanded the farm and continued selling unprocessed milk. Later on, BDF diversified into the manufacturing of Extra Neutral Alcohol (ethanol)- an important base for spirits and alcoholic beverages, within the food and beverage industry,…
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At a time when post-Covid-19 private sector credit growth remains constrained with mild growth in a select few sectors, Uganda Development Bank (UDB) has reported a 52% gross loan portfolio growth from UGX851 billion in December 2021 to UGX1,298 billion in December 2022. This was, on the back of a 40% growth in the value of new loan applications approved to receive funding that grew from UGX635 billion to UGX894 billion and an 81% growth in total disbursements from UGX428 billion to UGX776.6 billion in the same period. The industry sector (comprising of manufacturing and agro-industry) received the highest number…
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Twiga Foods’ Susan Kiama, Ernst & Young Global Consulting Services’ Celestine Munda and David Luke of LSE Firoz Lalji Institute for Africa are new members of the board at TradeMark East Africa. In a statement, TradeMark East Africa says: “We are excited to announce that Celestine Munda, Government and Infrastructure lead Ernst & Young Global Consulting Services; David Luke, Strategic Director LSE Firoz Lalji Institute for Africa, and Susan Kiama, Chief Officer People Operations at Twiga Foods have been appointed as board members to TradeMark East Africa. Their term began October 1.” The trio joins Erastus Mwencha (Chairman), Patrick Obath (Vice Chairman), Emiliana Busara (member), Maggie Kigozi…
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