Most family-run businesses in East Africa have not prioritized research in order to assist them in recovering from the economic challenges brought about by the Covid-19, a recent survey by PricewaterhouseCoopers (PwC) has revealed. The survey indicates that just 12% of the region’s sampled family-owned firms have prioritized investment in innovation or research. The study, which sampled 95 family-run firms, was done between October 2022 and January 2023 covers Uganda, Kenya, Tanzania, Rwanda and Ethiopia. Apart from inadequate innovation and research, the survey indicates that family-owned firms are not fully embracing the ongoing trend of corporate digitalization in the area,…
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Bank of Uganda has released the list of 18 shortlisted external audit firms that will audit supervised financial institutions in 2023. Section 62 (1) of the Financial Institutions Act (FIA) 2004 and Section 30 (2) of the Microfinance Deposit-taking Institutions Act 2003 and the External Auditor Appointment Guidelines for Forex Bureaus and Money Remitters (2016), Bank of Uganda is mandated to pre-qualify and publish a list of External Auditors for Commercial Banks, Credit Institutions and Microfinance Deposit-taking Institutions and Forex Bureaus. The selected firms were chosen after a process that started in September 2022. According to a Bank of Uganda,…
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Family business owners have a keen interest in sustaining the business as a family asset and as a legacy, according to PwC’s 2020 East Africa Family Business Survey. Estate planning is an important component for family business owners and their families to consider since it speaks directly to how certain assets will be preserved, managed or distributed. As part of an overall succession plan, estate planning clarifies how these assets will be passed on to the next generation or otherwise distributed. For their East Africa Family Business Survey Report 2021, PwC, spoke to Sim Katende, an Advocate of the High…
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Prudential Uganda and PricewaterhouseCoopers (PwC) on Thursday last week held a breakfast meeting with over 160 heads of Human Resource from various industries to discuss matters of employee well-being and the changing work environment. This was arguably the first meeting bringing together heads of HR from various functions to discuss the changes ushered in by the pandemic.Speaking to the HR managers, Julius Kakeeto, Managing Director and Chief Executive Officer, PostBank Uganda, articulated the critical role of HR to the business especially at this critical turn of the century. He called on the managers to be more aware of the strategic…
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Emmanuel Bajungu, a Ugandan finance professional based in London, United Kingdom (UK), has started a new role as Senior Manager at PwC UK. He started his career at PricewaterhouseCoopers (PwC) in the UK in December 2017, in Leeds. Starting out as a Senior Auditor from Dec 2017-Jun 2019 at PWC UK after one year and seven months of exceptional work, he was elevated to a higher corporate rank by PwC UK. By July 2019, Bajungu had started a new role as an Audit Manager at PwC UK and had to relocate to London, England though still within the United Kingdom…
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MTN Uganda Limited has announced the re-appointment of PricewaterhouseCoopers (PwC) Certified Public Accountants as the external auditor of the Company for the audit relating to the financial year ending 31 December 2022. The multinational professional services network of firms, which ranks the second-largest professional services network in the world has also been appointed by Stanbic Uganda Holdings Limited as their External Auditors of the Company for the year 2022. Enid Edroma, MTN Uganda, Company Secretary said that the re-appointment of PwC was reached at during the annual general meeting of the held on Friday 27 May 2022 at the Company’s…
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Former Uganda Revenue Authority (URA) Commissioner General Doris Akol has been appointed Technical Assistance Advisor at the International Monetary Fund. In a congratulatory message, former Kampala Capital City Authority executive Director Jennifer Musisi tweeted: “Congratulations to one of Africas most brilliant tax administrators and legal professionals on your ascension to Technical Assistance Advisor International Monetary Fund @DDorisAkol they’ve grabbed a gem!” Over the course of her career, Akol has held various positions in public office as well as in the private sector. She possesses over two decades of experience in taxation policy and administration, corporate governance, public procurement processes, and…
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Why has Prudential decided to do the Prudential Best HR Practices Survey 2021 and why now? Those who are employed spend about one-third of their life on average at their workplaces. In any community (of which a workplace is an example of) the best outcomes emerge when members have an environment in which they can bring the best version of themselves. Prudential Uganda wishes to bring to the forefront a conversation about culture and inclusivity in the workplace to create the environment where employees can thrive. The best way for any organization to start this conversation is by establishing a…
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Dorothy Kabagambe Ssemanda is the Chief Finance Officer of ATC Uganda, a subsidiary of American Tower Corporation and the largest telecommunication infrastructure provider in Uganda. In 2018, she was appointed the first Ugandan CFO in American Tower and has supported the organisation through several successful years of financial growth. Dorothy started her career as an audit associate with Ernst and Young and later joined PricewaterhouseCoopers where she excelled in Audit and accounting for several multinational organisations including Banks, FMCGs, INGOs, etc. She then moved to Zain Uganda as business planning analyst working on pricing, business analysis, budgeting and forecasting and…
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Elizabeth Nyarobbo Asiimwe is currently the Head of Internal Audit at Standard Chartered Bank Uganda, an independent function whose primary role is to help the Board and Executive Management to protect the assets, reputation and sustainability of the Bank. In this role she provides leadership to the country Internal Audit team to enable the function effectively provide assurance to stakeholders and support the bank in achieving its goals and objectives. She was previously Audit Manager before her appointment as Head of Internal Audit. Prior to joining Standard chartered, she worked as Chief Internal Auditor at United Bank for Africa; and…
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