A total of 500 Small and Medium Enterprises have been equipped with skills in agricultural value addition and financial literacy courtesy of PostBank Uganda and the Federation of Small and Medium Sized Enterprises – FMSE. In September this year, PostBank Uganda, a government financial institution that is committed to transforming lives and livelihoods committed Shs 80 million to FSME towards value addition and financial literacy trainings for SMEs. Under its Corporate Social Responsibility activity, the bank in partnership with the federation under the theme Yongela Ko Omutindo, seeks to positively affect small-sized businesses which will, in turn, improve the country’s…
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Financial experts have lectured Ugandans on how to grow and protect their finances during a financial wellness class organized by UAP Old Mutual and PostBank. The webinar which aimed at driving financial empowerment for Ugandans featured financial experts including Julius Kakeeto, the Managing Director/CEO, PostBank, Andrew Kabeera, the Executive Director, PostBank, Prof. Samuel Sejjaaka, acclaimed accounting and finance expert, Gloria Wakooba Tuhaise, Deputy Director, Procurement and Disposal Department at Bank of Uganda alongside Tonny Mudoola, the Ag. Managing Director, UAP Old Mutual Life Assurance and Jonan Kisakye, the Chief Executive Officer of Uganda Insurers Association (UIA). These shared issues were…
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UAP Old Mutual has partnered with PostBank to organize a financial wellness class to be hosted on Twitter Spaces, Facebook as well as Zoom and YouTube. The webinar themed “Learn, Grow, Protect Your Finances,” will be moderated by TV personality, Mildred Tuhaise and will take place on 2nd November at 7:00pm. The webinar will play host to renown financial services industry experts in a panel discussion that’ll have them share key insights on selected topics aimed at driving financial empowerment for Ugandans. The panel will feature Julius Kakeeto, the Managing Director/CEO, PostBank, Andrew Kabeera, the Executive Director, PostBank, Prof. Samuel…
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PostBank Uganda Limited, a financial institution that is committed to transforming lives and livelihoods, has on Tuesday announced its flagship CSR activity for the year 2022 that will be headlined under the Bank’s Financial Literacy and Skills Enhancement pillar. The CSR activity will be conducted in partnership with the Federation for Small and Medium Sized Enterprises (FSME) under the theme “Yongela Ko Omutindo.” It is aimed at equipping SMEs countrywide with value addition and financial literacy skills. “This year we decided to focus on our financial literacy and skills enhancement pillar, because of the many disruptions in the SME space….
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Government has resolved to increase PostBank’s authorised share capital by 400% from UGX100 Billion to UGX500 Billion. For customers, this means that access to low-priced financing would further be enabled while the Bank will benefit in terms of reduced cost of operations. The move was revealed to the press Evelyn Anite, the Minister of State for privatisation and Investment after a closed-door Annual General Meeting held on August 23, at the Ministry of Finance, Planning and Economic Development in Kampala. Hon. Anite lauded PostBank for attaining Tier One status and congratulated the new Board and Management for reviving the bank’s…
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PostBank, a financial institution that is committed to empowering lives and livelihoods, has, today, contributed UGX15 million to facilitate the Anglican Church’s preparations for this year’s Martyrs Day celebrations. The contribution comes days after PostBank sponsored and organized a fundraising dinner to support Greater Ankole Diocese collect funds essential for the smooth running of the Martyrs Day celebrations. Guests in attendance including the Rt. Hon. Deputy Speaker of Parliament, Thomas Tayebwa, Hon. Dr. Chris Baryomunsi and other government and religious dignitaries, fundraised over UGX. 200 million at the dinner. This year’s Martyrs Day becomes the first-time pilgrims will congregate at…
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Godfrey Muhindo has been appointed Chief Commercial Officer for MTN Mobile Money Uganda Ltd. Reporting to the Managing Director, he will be responsible for Corporate Sales, Mobile Money Distribution, Mono Pay Sales and Agent Servicing. Previously, Muhindo was Current Head of Merchant Portfolio at Airtel Mobile Commerce Uganda Ltd where he was in charge of driving the OTC- (Over the Counter) payments service strategy for Airtel Money.Godfrey is a financial services management specialist, deeply experienced in dealing with Corporate, Retail and Consumer Clients with a bias in Financial Technology and business development. He served at three commercial banks including; Barclays…
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PostBank is now a fully-fledged commercial bank, and the year has not been easy for the sector. What are the highlights for the year 2021? 2021 was a tough year owing to the COVID-19 pandemic. Many customers were still suffering from the effects of the 2020 lockdown and then they had to deal with another lockdown in 2021. At PostBank, we focused on supporting the adversely affected businesses to survive and recover through restructuring of facilities and providing working capital support. Despite the headwinds, the Bank registered growth across all the key parameters; a 22% increase in Profit After Tax…
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By Martin Mugisha In to the Monetary Policy Report February 2022, the Bank of Uganda said that Private Sector Credit (PSC) growth lost momentum in the quarter to December 2021, due to the uncertainty over a pickup in economic activity, especially as the number of COVID-19 infections were on the rise in November and December 2021 and the increase in Net Domestic Financing (NDF) requirements. Indeed, year-on-year growth in PSC fell to an average of 9.0 percent, down from 9.7 percent in the quarter to September 2021. This comes at the back of the late Bank of Uganda Governor Emmanuel…
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Bank Of Uganda has issued PostBank a license to operate as a tier-one commercial bank. Henceforth, PostBank shall no longer be categorized as a credit institution but as a deposit-taking financial institution that gives loans for consumption and investment to make a profit. The bank can now carry out all the functions and services of commercial banks as stipulated in the Financial Institutions Act (2004) Some of these services offered by tier-one commercial banks include acceptance of call, demand, savings, and time deposits withdrawable by cheque or otherwise; provision of overdrafts and short to medium term loans; provision of foreign…
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