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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By Jimmy Ocen Apart from manufacturing, there’s no faction in the services sector that contributes a larger share of gross domestic product than agriculture. Data from Bank of Uganda (BoU) indicates that the services sector contributes 41.5% of gross domestic product, with manufacturing contributing 27.4% which is just slightly above 23.7% for agriculture. According to an annual agriculture survey conducted by the Uganda Bureau of Statistics (UBoS), the agricultural sector is the largest employer in Uganda and remains essential to secure the livelihoods of Ugandans. Agriculture pays about 70% of the Ugandan population with the remaining 25% and 5% split…
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Judy Namanda Kikonyogo is the Chief HR and Administration Officer at PostBank Uganda Limited the only 100% government owned bank. Judy oversees a staff compliment of close to 1000 staff, with 47 branches countrywide. She is tasked with driving the people agenda at a strategic level. Judy has just completed a successful restructuring exercise at PostBank that has created more job opportunities for Ugandans. Prior to PostBank, Judy worked for Barclays Bank Uganda now Absa Bank Uganda Limited and successfully oversaw the merger of Barclays Bank and Nile Bank human capital. She has also worked in the United States for…
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