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The bank which is the biggest lender with 21% of the market share, in 2020 restructured UGX800 billion of loans, giving room to clients to get back on their feet. Thanks to this stitch-in-time, coupled with the consistent matching of interest rates with the Central Bank Rate enabled customers to regain stamina and by 2021 the value of restructured loans was reduced to UGX197 billion. By the end of 2022, this was further brought down to just UGX 14.5 billion. Bad loans in the same pool were just UGX 26 billion. It is therefore no surprise that the bank saw…
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A new real estate sector report compiled by Stanbic Properties Uganda Limited (SPL), a subsidiary of Stanbic Uganda Holdings Limited, indicates that average occupancy from surveyed buildings was recorded at 89% for Grade A, 83% for Grade B and 74% for Grade C buildings. The report, compiled as at the end of December last year, says that the prevailing median rents were recorded at US$15, US$11 and US$8/m² /month for Grade A, B and C buildings respectively exclusive of service charge. Released on February 9, 2022 at a press conference held in Kampala, the report says, market evidence indicated more…
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National Housing, Stanbic Properties Limited, and Stanbic Bank Uganda have today entered a tripartite partnership to develop and facilitate Ugandans to access affordable modern housing. The function presided over today, by the Minister of Finance, Planning and Economic Development Matia Kasaija. Under the terms of the partnership, National Housing will provide land to develop affordable modern housing whereupon Stanbic Properties will handle the direct sales and marketing with Stanbic Bank playing the role of financing partner. Both Stanbic Bank and Stanbic Properties are subsidiaries of Stanbic Uganda Holdings Limited (SUHL), under the Standard Bank Group, Africa’s largest commercial bank. Under…
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