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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…
When Sylvia Mulinge stepped into the CEO role at MTN Uganda in October 2022, the air crackled with expectation and a fair dose of apprehension. It wasn’t just another leadership change. It was a passing of the torch during one of the most volatile economic periods Uganda had faced in years, fresh out of the Covid pandemic. Inflation was biting, the shilling was shaky, and the telecom giant, fresh off its historic stock market listing, was now under the microscope of thousands of new shareholders. Mulinge, a seasoned executive with a proven record at Safaricom, was no stranger to pressure. …
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MTN Uganda has officially announced a landmark proposal to structurally separate its mobile money and fintech operations from the core telecommunications business, a move set to redefine the company’s financial services footprint in Uganda and align to the Group’s Ambition 2025 strategy. The proposed transaction, to be tabled for shareholder approval during an Extraordinary General Meeting (EGM) on Wednesday, July 2, 2025, involves the amalgamation of MTN Mobile Money (U) Limited (MTN MoMo) into a newly created entity, MTN New FinCo, which will become the surviving company. Once complete, MTN MoMo will be deregistered from the companies register, and MTN…
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Uganda’s economic model, widely known as “Musevenomics,” is facing a pivotal test, as stakeholders at the Musevenomics Conference 2025 called for bold reforms to address persistent gaps that threaten to…
Airtel Uganda has appointed Counsel Godfrey Bakibinga as the new Director of Legal and Regulatory Affairs replacing Counsel Dennis Kakonge who resigned from the position with effect from 30th November, 2024, according to a statement signed off by Board Chairman, Hannington Karuhanga. Kakonge in a LinkedIn update has been appointed as General Manager, Corporate Services and Company Secretary at MTN Uganda. Kakonge spent 14 years at Airtel as Legal and Regulatory Director. Mr Bakibinga assumed his duties as Company Secretary/Legal & Regulatory Director, effective 1st December 2024. Before the new appointment, Bakibinga was the Senior Manager – Legal and Regulatory…
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By Francis Lutalo The banking industry is facing unprecedented times with the need to adapt faster to emerging technology to serve the ever-changing client needs. Faced with competition from other third-party service providers and middlemen, banks are exploring how to replace the current traditional banking infrastructure with the transformative power of blockchain technology to speed up payments, remittances or even day-to-day over the counter transactions. Advanced economies such as the USA and China have already demonstrated considerable success with blockchain technology in digital currencies, payments and remittances with the global south slowly catching up. Rwanda and Ghana are prime examples…
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In this interview, we learn about dfcu Bank’s latest promotion that allows customers to pay their utility bills at no cost. Dubbed ‘Rates Paka Chini’, this initiative aims to ease customer expenses and support the local economy by encouraging seamless payment processes. Annette Kiconco, the Chief Retail Banking Officer at dfcu Bank, talks to the CEO Magazine about the promotion. What is the main objective of dfcu Bank’s new utilities and statutory collections campaign? The primary objective of our campaign is to make utility and statutory payments more convenient, affordable and accessible for all our customers. We want to ensure…
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Pan African fintech, Chipper Cash, has just hit a major milestone. They have issued over one million Chipper Cash virtual cards to people not only in Africa but also beyond. The startup claims to currently be the largest issuer of virtual cards in the whole of Africa in a market that has other fintechs like Eversend. In a blog post, the head of Consumer Products, Tefiro Serunjogi said, “The million milestone means a lot to us. Not only due to the positive impact the product is having on our customers’ lives but also because of the speed that it has…
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Flutterwave, the Pan-African payments startup, has launched a new product called Tuition by Flutterwave which will enable Africans to pay tuition for universities in the West in their local currencies. The new product was announced in a blog post on 11th July 2023. African students are increasingly attending universities in the West with the UK, USA, Canada and France being popular destinations. Despite this, paying tuition is still difficult with long wait times and expensive charges as the most convenient means is doing bank transfers. The new product is currently available for Nigerian students but will be launched in other…
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