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March 6, 2026
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    Uganda Business News

    Big Dreams Need a Big Bank — and the 9 Other Things I Took Away from the Stanbic Bank Economic Forum 2026

    Muhereza KyamuteteraBanking & Financial ServicesThe Big StoryFebruary 19, 2026February 19, 2026

    2026 finds Uganda at a rare convergence of economic catalysts and structural pressures. First oil is nearing. Gold is redefining export performance. Technology — particularly AI — is compressing the…

    Billionaire’s Daughter Vasundhara Oswal Sues Senior Ugandan Police Officers, Seeks Return of $200,000 Bond Money

    Paul MurungiInvestigations & Special ReportsLegal & JusticeThe Big StoryFebruary 17, 2026February 17, 2026

    Indian-Swiss entrepreneur Vasundhara Oswal has filed a human rights petition at the High Court of Uganda against several high-ranking security and prosecution officials, accusing them of orchestrating her arbitrary arrest,…

    Museveni Appoints Girma Wake Acting CEO of Uganda Airlines, Directs Bamuturaki to Step Aside

    Paul MurungiThe Big StoryFebruary 16, 2026February 16, 2026

    President Yoweri Museveni has directed that former Ethiopian Airlines Chief Executive Officer Girma Wake be appointed to lead a management transition at Uganda Airlines, amid ongoing efforts to stabilise the…

    Prof. Augustus Nuwagaba, Deputy Governor of the Bank of Uganda, may have just let the cat out of the bag on Uganda’s glittering gold export boom — providing vital clues to the elephant in the room of the country’s overnight success story, long touted by government as proof of recent economic momentum: whose gold is it, really?

    ‘It May Not Be Ours’: Deputy Central Bank Governor Suggests Uganda’s Sudden USD6.4 bn Gold Boom is Fuelled by Re-Exports

    Muhereza KyamuteteraEconomy & PolicyThe Big StoryFebruary 13, 2026February 24, 2026

    The Deputy Governor, Bank of Uganda, Prof. Augustus Nuwagaba, has drawn attention to a key structural feature of Uganda’s recent gold export performance: while gold has become the country’s largest…

    Kenny Fihla’s bold tech-led retail reset sees him tap Sitoyo Lopokoiyit to power Absa’s next phase of reinvention.

    What Absa Group’s Hiring of M-PESA’s Sitoyo Lopokoiyit Reveals About Kenny Fihla’s Strategic Intentions

    Muhereza KyamuteteraBanking & Financial ServicesThe Big StoryFebruary 13, 2026February 13, 2026

    Hardly two weeks after Absa Group CEO Kenny Fihla concluded a high-level working visit to Nairobi, Kenya, the Group this week announced that it had hired Sitoyo Lopokoiyit as its…

    Ecobank Kenya Names Rebecca M. Mbithi New Managing Director as Anan-Ankomah Retains Regional Role

    Paul MurungiThe Big StoryFebruary 11, 2026February 11, 2026

    Ecobank Kenya has named Mrs. Rebecca M. Mbithi as its new Managing Director, succeeding Mrs. Josephine Anan-Ankomah, who has fully transitioned to a regional leadership role within Ecobank Group. Mbithi’s…

    Absa Group Appoints M-PESA Africa CEO Sitoyo Lopokoiyit as Head of Personal and Private Banking

    Paul MurungiBanking & Financial ServicesThe Big StoryFebruary 11, 2026February 11, 2026

    Absa Group has confirmed the appointment of M-PESA Africa chief executive Sitoyo Lopokoiyit as the new head of its Personal and Private Banking division, marking a significant leadership move as…

    Charles Mbire (left) and NSSF Managing Director Patrick Ayota (right) pictured with the MTN Uganda logo as MTN shares rally and NSSF’s stake surpasses UGX 1 trillion.

    NSSF stake in MTN Uganda hits UGX1 trillion

    Muhereza KyamuteteraBillionairesTechnology & InnovationFebruary 9, 2026February 9, 2026

    MTN Uganda shares have staged a strong rally on the Uganda Securities Exchange (USE), delivering massive gains to its largest local investors in just eight weeks as the stock surged…

    Tax Appeals Tribunal resolves 146 disputes, unlocks UGX203bn in first half of 2025/26

    Muhereza KyamuteteraPolitics & GovermentThe Big StoryFebruary 9, 2026February 9, 2026

    Uganda’s Tax Appeals Tribunal (TAT) has resolved 146 tax disputes and unlocked UGX203.4 billion back into the economy in the first half of the 2025/26 financial year, as the quasi-judicial…

    Government Paid UGX 47b to Staff of Rationalised Agencies Despite Being Absorbed Into Other Jobs

    Paul MurungiThe Big StoryFebruary 8, 2026February 8, 2026

    Government paid at least UGX 46.8 billion in terminal benefits to staff of rationalised agencies who were later re-appointed into public service.  The payments, the Auditor General noted in the…

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