Shareholders of Stanbic Uganda Holdings Limited will walk away 13.2% richer than last year, following the board’s recommendation of UGX2.15 per share dividend for 2019, up from the UGX1.9 paid for 2018. This follows what Patrick Mweheire, the Chief Executive of Stanbic Uganda Holdings Limited, called “another great performance” that saw the bank “improve on all our key performance goals.” “We grew our deposits by 21% as more customers trusted us with their money and our loans and advances grew by 14% by – availing UGX 344 billion of new credit to key sectors of the economy such as manufacturing,…
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Today, 19th December 2019, Tony Okao Otoa will pass out yet another cohort of SME executives, after a 3 months rigorous business mentoring and coaching in all aspects of business at Stanbic Bank’s The Business Incubator programme. Otoa’s job is no ordinary job- he teaches or rather is a sort of headmaster for an ‘institution’ that teaches Ugandan businesses how to do business in a business-like manner.
Born out of a need to prop up SMEs that are Uganda’s engine of growth, by Stanbic Bank, Uganda’s biggest bank and initially tailored for SMEs focused on serving the nascent oil and gas industry, the programme has quickly gained demand across the entire SMEs and start-up spectrum. The Oxford Brookes University alumni, who has spent a better part of his career in supporting national/local content in the oil and gas sector, in this interview with CEO East Africa’s Muhereza Kyamutetera, passionately shares lessons learnt, successes made but more importantly, what more needs to be done- to build a thriving SME ecosystem in Uganda- beyond just words and the usual grandstanding.
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The total assets of Uganda’s financial services industry reached UGX.45.81 trillion, or 44.3 percent of Uganda’s GDP, as at end December 2018. The banking sector, dominated 69% of these assets, followed by Pension Funds at 22%, then Funds under Management (6%) and lastly the insurance sector at 3%, according to Bank of Uganda’s Financial Stability Report, June 2019. According to the report, as at end June 2019, the banking sector, continued to flourish with commercial banks accounting for 95.2 percent (UGX30.3 trillion) of the banking sector’s total assets of UGX.31.8 trillion. This was followed by the Microfinance Deposit-taking Institutions (MDIs)…
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Ugandan banker, Anne Juuko is said to be the most likely next Chief Executive Officer for Stanbic Bank, Uganda’s largest bank- according to information corroborated with several industry sources. Juuko, reportedly beat Sam Mwogeza the bank’s current CFO and Kevin Wingfield, the Executive Director and Head Personal and Business Banking, to one of the most coveted and well-paying jobs in corporate Uganda. If she indeed does ascend to the role, she will probably be the youngest Stanbic Uganda CEO, the first female and the second Ugandan to head the Stanbic, since South Africa’s Standard Bank acquired a controlling stake in…
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Patrick Mweheire, the Stanbic Bank Uganda, Chief Executive Officer will be leaving his job for a yet to be named regional role within the Standard Bank Group, when his contract expires at the end of this year, CEO East Africa Magazine has confirmed from various sources within the banking industry in Uganda and in Nairobi. We also understand that the race to replace him is in advanced stages with three contenders for the job being Sam Mwogeza; the bank’s current Chief Finance Officer, Kevin Wingfield; the current Head, Personal and Business Banking as well as Anne Juuko, a Ugandan working…
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The Stanbic Purchase Manager’s Index (PMI) for September shows that the private sector activity remained in the growth territory at the end of the third quarter of 2019. The survey, sponsored by Stanbic Bank and produced by IHS Markit, indicates that ability of firms to secure additional customers resulted in higher new orders and a subsequent expansion of business activity. Meanwhile, both input costs and output prices continued to increase. Benoni Okwenji, Stanbic Bank’s Fixed Income Manager The headline PMI was 55.7 in September, down from 57.5 in August, but still above the 50.0 no-change mark. Stanbic Bank Fixed Income…
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By Milly Kyolaba A critical period in the year for every parent is Back to School season. For any parent especially those with more than one child, the thought of paying schools fees to multiple schools can be a chore. All parents dread the idea of having to standing in endless queues at a bank branch and long to have easier and more convenient ways to pay school fees with out any hustle. Today things have changed, and parents can now pay schools fees using digital options from their phones or online which are much more convenient and affordable. Digitization…
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Stanbic Bank Uganda, yesterday, August 09th, 2019 awarded 548 entrepreneurs from 122 Small and Medium Enterprises (SMEs) certificates, for having completed business training and courses at the Business incubator. This…
Stanbic Bank, Uganda’s largest bank by assets, lending, deposits and profits, today released their H1 2019 results, signaling what should turn out to be yet another strong year. In results…
The insurance industry in Uganda underwrote UGX856 billion (USD227.8 million) in 2018- that is UGX73.60 billion (USD19.6 million) more than the Shs782.4 billion (208.2 million) underwritten in 2017. This is…
