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Stanbic Bank Uganda Limited has been recognized by the National Environment Management Authority (NEMA) for its proactive efforts to promote environmental protection and preservation through adoption of innovative technologies and implementation of afforestation initiatives. This was during the National Sustainability Awards 2024 at the Sheraton Kampala Hotel, held under the theme ‘Promoting Innovative Technologies for Environmental Conservation’. The country’s biggest financial institution was hailed for its innovative approaches to reducing its environmental footprint and promoting eco-friendly practices. Speaking on behalf of the bank, Cathy Adengo, Head of Sustainability Adengo noted that, Stanbic has partnered with the Government through the Ministry…
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Stanbic bank Uganda, the oldest Commercial Bank in Uganda, has joined the world to commemorate global customer service week. Stanbic decided to stretch the celebration for the whole month of October, starting from Kampala to Mbale, Mbarara and Fort Portal respectively. “This is the first of the market days and unlike others who are doing customer service week, we are doing customer service month; this week we are here in Kampala, next week we are in Mbale, the week after that we are in Mbarara and in the fourth week we will be Fort Portal and in each of those…
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Statistics by the World Bank show that an average Ugandan spends approximately 120,000 UGX, out of pocket, on medical treatment. With an average age of 17 and less than 500,000 Ugandans with medical insurance today, there’s urgent need fill this gap and ensure as many Ugandans can access affordable medical care through health insurance. This has triggered historical companies in finance and insurance, Stanbic bank and Prudential respectively to come up with Stanbic MediProtect, a Medical Insurance Cover for Ugandans. Under this, with just UGX600, 000 or USD166 investment (silver package), Stanbic customers are now able to acquire for themselves…
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Ugandans looking to buy their first house can now do so with up to 100% financing from Stanbic Bank at 14.5% in a move aimed at helping working Ugandans to live rent-free and channel resources to invest in their own property. Part of its new campaign dubbed—Get it done—the bank has also slashed lending rates on personal consumer loans to 15.5%, the lowest in the market—and accessible within two minutes to prequalified customers—through the lender’s mobile banking platform. Customers with loans in other banks can also migrate to Stanbic Bank under special terms and settle their obligations at lower rates—they…
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Bancassurance contributed UGX103.5 billion to the UGX1.1 trillion Gross Written Premium (GWP) recorded by Uganda’s insurance sector in 2021 with Stanbic Bank accounting for 22 percent to consolidate its position as market leader. Bancassurance is the sale of life assurance and other general insurance products through commercial banking institutions; in 2020, bancassurance sales contributed only UGX32 billion to the UGX1.06 trillion GWP recorded by the country’s insurance sector. Stanbic Bank Uganda’s Bancassurance agency dominated other commercial bank players in a small but steadily growing business unit, with the lender aggregating UGX22.5 billion in GWP, equivalent to 22 percent of the…
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MOGAS is now free to do business for the next six months and conclude talks with a one Ola Energy Ltd which was willing to take over MOGAS and pay off a debt that the oil marketer owes Stanbic Bank Uganda. In a recent development, Maestrol Oil and Gas Solutions Limited famously known as MOGAS Uganda Limited, had been placed under receivership by Stanbic Bank Uganda. This follows MOGAS’ failure to pay back 12 loans it borrowed from Stanbic Bank totalling to UGX 43,181,259, 828 (which includes both the principle and the interest). According to Vincent Lubuulwa, Stanbic Bank’s senior…
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Stanbic Bank Uganda together with other well-wishers, over the weekend donated medical mama kits worth UGX35.5 million to Kawempe Referral Hospital as part of its year-ender Corporate Social Investment programme. The donation is part of an ongoing campaign in which the bank and several other organisations and well-wishers, have been supporting efforts to improve maternal health in Uganda under the theme ‘Every Mother Counts’. Speaking during the handover event at the hospital, Barbara Kasekende, the Stanbic Bank Corporate Social Investment Manager said, increasing the maternal survival rate is an important goal for the bank and every member of the community…
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Unidentified hackers broke into the systems of Pegasus Technologies, a company that integrates mobile money transactions between telcos, banks, and other local, regional, and international money transfer services, making off with a yet to be known sum, but said to be in billions of Shillings. The most affected firms are the leading telcos, Airtel and MTN Uganda, as well as Stanbic Bank, Uganda’s largest bank that also backs up most of the mobile money transactions. In a joint statement released today, 5th October 2020, Anne Juuko, Wim Vanhelleputte, and VG Somasekhar, the CEOs of Stanbic Bank Uganda, MTN Uganda, and…
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Uganda’s electricity distributor, Umeme Limited has secured a USD70m (UGX258 billion) funding to support its planned investments in the electricity distribution network. The International Finance Corporation (IFC) was the lead-arranger in the syndicate including Stanbic Bank Uganda Limited, Standard Chartered Bank and the Dutch Development Bank (FMO). According to an earlier notice by IFC on their website, IFC said they would contribute a senior loan for up to USD30 million while USD40 million would be mobilized from other lenders. In a media statement, Mr. Selestino Babungi, the Umeme Managing Director, said he was pleased with the conclusion of the fundraising…
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