Absa Bank Uganda has entered into an agreement to acquire the Wealth and Retail Banking (WRB) business of Standard Chartered Bank Uganda. The acquisition marks a major shift in Uganda’s…
Centenary Bank, Uganda’s leading microfinance bank, joined thousands of Kampala residents to celebrate the Kampala City Festival 2025 on 12th October 2025, under the theme “Celebrating Enterprise and Innovation in…
Uganda’s agent banking industry has entered a new phase with latest data from Bank of Uganda painting a picture of a sector in full bloom. As of June 2025, the…
Uganda’s banking sector has cemented its recovery and resilience, posting a record UGX 1.9 trillion net profit for the year ended June 2025. This was a nearly an increase of…
Payments through cheques in Uganda’s financial eco-system continues to decline as Bank of Uganda (BoU) intensifies efforts to promote digital and electronic payments. Latest data from the central bank shows that both volume and value of cheque transactions have dropped, reflecting a steady shift toward electronic funds transfers and mobile-based banking solutions. BoU data indicates that cheque transaction values fell by 3.6%, from UGX 4.8 trillion in the year to June 2024 to UGX 4.62 trillion in the same period in 2025. Similarly, the volume of cheques declined by 3.9%, from 1.05 million to 1.01 million transactions over the same…
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Despite the steady rise of mobile money, fintechs, and online banking, cash continues to dominate Uganda’s payment landscape. Bank of Uganda (BoU), in its latest currency and payment systems report, reveals that while digital channels are growing steadily, the Ugandan economy remains deeply reliant on physical currency for most day-to-day transactions. However, behind the continued dominance of cash lies a quiet but important shift; digital payments are steadily gaining traction, reflecting changing consumer habits, improved technology, and growing financial inclusion. Cash circulation keeps rising During the 2024/25 financial year, total currency in circulation increased by 9%,, from UGX 8.21 trillion…
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As the rest of Uganda chokes on expensive credit, with commercial bank lending rates hovering between 18 and 20 percent, staff at the Bank of Uganda (BoU) are enjoying the rare comfort of nearly interest-free, long-term loans stretching up to two decades. Revelations from the central bank’s latest Integrated Annual Report 2024/25 have lifted the lid on a rare privilege: access to nearly interest-free loans for central bank staff and executives, stretching up to 20 years and offered at rates between 0% and 3%. The disclosure has triggered both curiosity and criticism. For some, it’s a thoughtful staff welfare strategy,…
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Absa Bank Uganda has reintroduced its custody services in a move that underscores the bank’s commitment to deepening Uganda’s capital markets. The development provides institutional investors with secure, efficient, and compliant solutions to safeguard their assets while enabling seamless investment operations. A Strategic Milestone for Uganda’s Markets Speaking at the launch, David Wandera, Managing Director of Absa Bank Uganda, described the development as a significant milestone for the bank and the country’s financial system. “Today marks an important milestone for Absa Bank Uganda as we reintroduce our custody services. With Uganda’s capital markets growing and institutional investors seeking secure, efficient,…
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Centenary Bank, in partnership with the African Guarantee Fund (AGF), have today hosted the inaugural Enterprise Finance Summit at the Mestil Hotel in Kampala, under the theme “Empowering Enterprise Growth…
The Tax Appeals Tribunal (TAT) has posted its most successful year since its inception in 1999, resolving a record number of tax disputes, slashing case backlog, and releasing unprecedented sums…
