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A close analysis of the 2022 financials of the 25 banks in Uganda, reveals several things, but one thing that you can’t miss is how Centenary Bank stands out of the crowd. And it is not because it is the number two bank⏤ it has been number two since 2018⏤ and neither is it because it is the only indigenously majority-owned bank in the top 5 and one of only two in the top ten, for it has been like that for about 10 years to date. But rather, what makes it an unmissable outlier, soaring up there like an…
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On the 16th of November 2022, the Financial Institutions (Revision of Minimum Capital Requirements) Instrument 2022 was signed into law by Uganda’s Minister of Finance, Planning and Economic Development (MFPED), Hon. Matia Kasaija. The instrument increased the minimum capital requirements for banks by 6 times or 500% from UGX25 billion (USD 6.7 million) to UGX150 billion (approx USD 40.2 million). The increment would however be tiered, starting with a minimum capital buffer of UGX120 billion (USD32.2 million) by the 31st of December 2022 and then UGX150 billion by the 30th of June 2024. Commercial banks are also required to have…
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Centenary Group, one of Uganda’s largest players in financial and digital inclusion, has officially launched its Malawi subsidiary⏤ Centenary Bank Limited, promising to bring its innovative solutions to underserved communities in the country. The move comes after years of successful growth in its home market, Uganda, what the Group says, is “extensive research into the needs of Malawi’s population”. Centenary Bank Limited in Malawi is the second banking subsidiary and fourth company owned by Centenary Group. Speaking on March 22nd 2023 at the Launch in Lilongwe, Centenary Group Executive Chairman, Prof. John Ddumba Ssentamu, “In Malawi, we will ensure that…
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Centenary Group was awarded as the winner in the Banking Services category of the 2022 Financial Reporting Awards (FIRE). The Group also came third in the Excellence in Integrated Reporting category during the awards ceremony. The Group was also recognized with an Outstanding Achievement Award in the Corporate Governance Reporting and Sustainability Reporting categories. The FIRE Awards are an annual ceremony through which excellence in financial reporting is recognized and rewarded. Organisations in the private, public and non-profit sectors participate by submission of their annual reports for the year under review. The best performers are rewarded based on their level…
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Centenary Rural Development Group and the Catholic Archdiocese of Lilongwe are to acquire 100% shareholding in MyBucks Banking Corporation of Malawi. In a joint statement released today by the two institutions, together with the MyBucks Corporation Board Chairman, Dr. Francis Z. Pelekamoyo it was announced today that the duo’s bid to acquire the bank, had been accepted by the bank’s board. “MyBucks Board of Directors would like to inform its valued customers and the public that the potential investor (a consortium of two institutions namely Centenary Rural Development Group Limited from Uganda and the Catholic Archdiocese of Lilongwe) has submitted…
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Former Makerere University Vice Chancellor Prof. John Ddumba Ssentamu has been appointed to the Electricity Regulatory Authority (ERA) board. His appointment was approved during a Cabinet sitting on Monday. The board, which is chaired by Dr Sarah Wasagali Kanaabi, also has Eng Erias Kiyemba, Eng Josepth Oteng Otogo and Amb Joan Rwabyomeire. The Electricity Regulatory Authority is a Statutory Body established in the year 2000, under the Electricity Act, 1999, (Chapter 145 of the Laws of Uganda) to regulate the Generation, Transmission, Distribution, Sale, Export and Import of Electrical Energy in Uganda. ERA is mandated by the Electricity Act, 1999,…
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At ten minutes past 1:00pm on the 12th of May 1890, Reverend Father Siméon Lourdel breathed his last, aged just 37 years. Fr. Lourdel and Amans Delmas, an auxiliary brother who arrived in Uganda on February 17th, 1789 marked the birth of Catholic Christianity in Uganda. So in 1979, as the Catholic Church in Uganda was preparing to celebrate 100 years of Catholicism in Uganda, Catholic leaders at the time wanted a lasting project that would mark the 100 years of evangelization. In an interview with His Eminence Cardinal Emmanuel Wamala, in 2012, he said that many ideas came around, for…
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Centenary Bank’s soft-spoken Managing Director, Fabian Kasi, this August, starts his 10th year at Centenary Bank- 10 years of impressive growth, whichever way you look at it. Kasi, was among…
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