Shafi Nambobi Archives – CEO East Africa

PostBank’s Julius Kakeeto elected Uganda Bankers’ Association Chairman

Muhereza KyamuteteraCompany News News & Analysis The Big StoryMay 20, 2024May 20, 2024

Members of the Uganda Bankers’ Association (UBA) held their annual general meeting on the 17th May 2024 and elected Mr. Julius Kakeeto, as the Association’s new Chairman. He replaces Ms. Sarah Arapta whose two-year term of office (2021 & 2023) has elapsed. Mr. Kakeeto is the Chief Executive Officer of Post Bank Uganda and has been serving as the Vice Chairperson for two years (2021 & 2023) Other members elected on the Executive Committee of UBA are Michael Mugabi, the CEO of Housing Finance Bank as the Vice Chairman; Edgar Byamah, the CEO of KCB Bank, as the Treasurer and…

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Digital thieves hit UGAFODE Microfinance; make off with UGX400 million

Muhereza KyamuteteraBanking & Financial Services News & Analysis The Big StorySeptember 19, 2022June 7, 2023

UGAFODE Microfinance Limited, one of five licensed micro deposit-taking financial institutions (MDI) in Uganda, has been hit by digital fraudsters, making off with an amount said to be about UGX400 million before, the bank moved in and shut down the suspicious accounts used to carry out the fraud. An insider at the bank who spoke to CEO East Africa Magazine, on condition of anonymity said the fraudsters, strongly believe to be either insiders or working with insiders, used ‘doctored’ Know-Your-Customer (KYC) documents to open seemingly legitimate bank accounts, which were then credited from the inside and money was then withdrawn…

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