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In a rapidly evolving financial landscape, Stanbic Bank is strengthening its role as a trusted companion for individuals and families seeking to build and preserve generational wealth. According to Bernice Kamahunde Mvano, the Stanbic head of wealth and investment, the bank is committed to supporting Ugandans at every stage of their financial journey. “Every client is on a journey. We are all growing in age, in our families, businesses, and personal lives. Therefore, it’s important for people to know that growth is constant, and our role as a leading financial institution is to walk with our clients and their families,…
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Shares of NCBA Group Plc have hit an all-time high of KSh 75.25, rising 8.27 percent from KSh 69.50, after confirmation that Africa’s largest lender, Standard Bank Group Ltd., is in advanced talks to acquire the Kenyan bank — a deal that could dramatically reshape the structure and ownership of Kenya’s banking sector. According to Bloomberg, the Johannesburg-based banking giant, which holds a 75 percent stake in Nairobi-listed Stanbic Holdings Plc, has already received internal approvals to engage NCBA in buyout negotiations. If completed, the merger would create Kenya’s third-largest lender by assets, with a combined balance sheet of approximately…
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EACOP Ltd., the company in charge of the construction and future operation of the East African Crude Oil Pipeline project from Kabaale in Uganda to Tanga in Tanzania has closed…
A leaked memo from the Office of the Prime Minister reveals that the government of Uganda plans to review and possibly approve borrowing proposals amounting to over USD 1.6 billion (UGX 5.8 trillion) during a cabinet-level meeting scheduled for Wednesday, March 26, 2025. The meeting, convened by the Prime Minister, is expected to consider 12 separate loan requests from various ministries and government agencies, targeting key sectors such as roads, energy, water, health, agriculture, and financial services. Loan proposals listed in the memo: €186.97 million and an additional €19.46 million from the African Development Bank for the Busega–Mpigi Expressway. €198.6…
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Stanbic Bank Uganda, the country’s largest lender by assets, revenue, and deposits, has today, March 3, 2025, officially welcomed Mumba Kenneth Kalifungwa as its new Chief Executive. His appointment, first…
Stanbic Uganda’s mother company—Standard Bank Group, which is also Africa’s largest bank by assets, has been recognised as one of Time Magazine’s World’s Best Companies and Newsweek’s World’s Most Trustworthy Companies. TIME and Newsweek are esteemed media organisations that have maintained a reputation for exceptional journalism for nearly a century. “These accolades from two iconic global news magazines demonstrate that our determined focus on delivering excellent services for our clients in, across and beyond Africa is being recognised worldwide,” says Sim Tshabalala, Group Chief Executive for Standard Bank Group. Time Magazine’s World’s Best Companies, now in its second iteration, is…
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Africa, the second-largest continent and home to 1 billion people has long captured the imagination of the world. Today, different thinkers, and political and business leaders are preoccupied with a single question – how to help Africa’s economy grow so it can trade with the world on better terms? The answer is simple: Africa needs to craft its own solutions to solve its problems. It starts with the promotion of a mindset of self-reliance. There’s no better way of expressing that self-sufficiency than creating innovative financing solutions to fund projects that could lead to sustainable economic growth in all the…
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As chairman of the Uganda Chamber of Mines and Petroleum, what does the chamber focus on? At the Chamber, there are a few things we have tried to focus on. In the initial stage, we were more of a lobbying and advocacy group but since we had the final investment decision on oil and gas, we have realigned and focused on four arrears, namely: Local content and employment creation— there is a significant amount of investment coming into oil and gas in the coming 3-5 years about USD 20 billion. Our focus has been, how much of that can we…
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