Kenya’s luxury hospitality sector is experiencing significant growth, spurred by an increasing arrival of international visitors, a stable economy, and a rising middle class The sector is experiencing significant growth, driven by…
Mona Muguma Ssebuliba: Financing Uganda’s Green and Inclusive Future
Pioneering Sustainable Finance for Smallholder Farmers and Agribusinesses This week, Publicist East Africa proudly features Mona Muguma Ssebuliba, Chief Executive Officer of aBi Finance Limited, as our Captain of Industry a leader who is proving that financial innovation, when anchored in sustainability and inclusion, can power lasting socio-economic transformation. At a time when agriculture remains…
Collaboration is Only Hope for Uganda’s Digital Future-Airtel MD Sahu at Huawei Congress
Airtel Uganda Managing Director Soumendra Sahu has emphasised the importance of partnerships in shaping Uganda’s digital future. Sahu, who was speaking at the Huawei ICT Congress held at the Four Points by Sheraton Hotel in Kampala, highlighted the power of collaboration in driving innovation, infrastructure development, and customer-centred solutions. He noted that Uganda’s digital future…
Ticking Time Bomb: Isimba Dam is a Disaster In Waiting- UEGCL Boss Mutikanga Tells IGG
The Uganda Electricity Generation Company Ltd (UEGCL) has sounded the alarm on the potential risks associated with the Isimba Hydro Power Dam, warning that it could collapse at any moment, posing a significant threat to the lives of people living downstream. According to Eng. Harrison Mutikanga, the Chief Executive Officer (CEO) of UEGCL, the dam,…
UNOC Roots for Inclusive Healthcare in Albertine Graben with Menstrual Hygiene Program In Schools
The Uganda National Oil Company (UNOC) , led by Proscovia Nabbanja as Chief Executive Officer (CEO), has launched a Menstrual Hygiene Management Program in schools in the Albertine Graben, donating reusable sanitary pads, sewing machines, and other essential materials to support menstrual health and practical skills development. This initiative is part of UNOC’s commitment to…
MTN’s Executive Reshuffle of Monzer and Mapula: A Strategic Move to Drive Business Growth or a Glitch?
MTN Group, a leading South African telecom conglomerate, recently made a significant executive reshuffle, swapping the Chief Executives of their franchises in South Sudan and Rwanda. Monzer Ali, who was appointed as CEO of MTN South Sudan in March 2024, has been replaced by Mapula Bodibe, who was the CEO of MTN Rwanda since 2022.…
Airtel Uganda Partners with MOGO Uganda and Transsion to bridge smartphone access gap
Airtel Uganda, in partnership with MOGO Uganda and Transsion Holdings, has launched an innovative smartphone financing initiative aimed at making quality smartphones more accessible and affordable to Ugandans across the country. In a bold move to address the persistent “device divide”, the economic barrier that prevents millions from participating in Uganda’s digital economy. This partnership…
Upgrading Kasese Airstrip to International Airport: A Boost to Trade and Tourism in Rwenzori Region
The Ministry of Works and Transport has taken a significant step towards boosting trade and tourism in the Rwenzori region by signing a Memorandum of Understanding (MoU) with China State Engineering Construction Company (CSEC) to upgrade Kasese Airstrip into an international airport. The agreement was signed Tuesday on between the Minister for Works Gen. Wamala…
Integrating Oil, Gas, and Renewable Energy for a Sustainable Future: Key to Uganda’s Economy
Uganda is poised to harness its energy resources to drive economic growth and development. The upcoming Energy Convention, scheduled to take place from April 29th to 30th, 2025, at the Kampala Serena Hotel, will bring together stakeholders to discuss the integration of oil, gas, and renewable energy for a sustainable future. Organised by the Uganda…
Manufacturing is the Key Driver for Uganda’s Economic Transformation -Min. Anite
Uganda’s State Minister of Finance for Investment and Privatisation, Hon. Evelyn Anite, has emphasised that manufacturing is the quickest vehicle for the country’s economic transformation. During a tour of industries in Jinja City on Wednesday, Minister Anite highlighted the importance of manufacturing in driving wealth creation and national progress, saying that manufacturing isn’t rocket science…
Monzer Ali at the Helm: Implications for MTN Rwanda’s Market Leadership
MTN Group’s appointment of Monzer Ali as the Chief Executive Officer of MTN Rwanda is a strategic move that is expected to boost the company’s market leadership in the Rwandan telecom industry. With his wealth of experience and expertise, Monzer Ali, who is replacing Ms. Mapula Bodipe, is a seasoned telecommunications professional with experience in…
Is Richard Yego, Uganda’s Strive Masiyiwa, Pioneering the Digital Financial Revolution in Africa?
In the ever-evolving world of fintech, few names shine brighter than Strive Masiyiwa, the Zimbabwean telecom mogul who has reshaped Africa’s digital financial landscape. But now, Uganda has its leader making waves in the industry: Richard Yego, the visionary Managing Director of MTN Mobile Money Uganda (MTN MoMo). Like Masiyiwa, Yego is not just a…
Kenya’s luxury hospitality sector soars despite challenges
Kenya’s luxury hospitality sector is experiencing significant growth, spurred by an increasing arrival of international visitors, a stable economy, and a rising middle class The sector is experiencing significant growth, driven by international visitors and a stable economy. Experts at the upcoming EAPI Summit in Nairobi will address challenges, while exploring opportunities for investment in…
MTN Uganda Leads Drive for Efficient Water Management with Smart Meters
Ugandans are set to gain greater control over their water bills and usage, thanks to the upcoming rollout of smart water meters by MTN Uganda. These advanced devices will provide households and businesses with real-time data on water consumption, helping them monitor usage, prevent wastage, and ultimately reduce their water bills. “With smart water meters,…
UDB SME Kazi Loan: A Key Economic Driver through Business Growth
Uganda Development Bank (UDB), which is headed by Patricia Ojangole as Managing Director, has introduced the UDB SME Kazi Loan, a tailored financial solution designed to empower small and medium enterprises (SMEs) in Uganda. This loan offers funding of up to Shs720M with a flexible repayment tenure of up to 6 years, providing SMEs with…
Stanbic Bank’s Commitment to Healthcare: A Gesture of Market Leadership
The equipment was delivered today to Mpugwe Health Centre III by a team from Stanbic Bank led by the Chief Executive Officer, Mumba Kenneth Kalifungwa, who hailed the medical personnel at the health facility for the great work they are doing, and reiterated the Bank’s commitment to ensuring the health of Ugandans, many of whom…
B.o.U Appoints Dr. Twinemanzi As Chairman Financial Sector Anti-Fraud Consortium
The Bank of Uganda (BoU) has taken a significant step in the fight against financial fraud with the appointment of Dr. Tumubweinee Twinemanzi as Chairman of the Financial Sector Anti-Fraud Consortium. Dr. Twinemanzi is the Executive Director, National Payment Systems at Bank of Uganda, making him the right man for a job as sensitive as…
CAA Calls for Stronger Partnerships to Drive Uganda’s Export Success
The Uganda Civil Aviation Authority (CAA) this week organised a one-day workshop at Protea Hotel, Entebbe, bringing together key stakeholders from various industries to discuss avenues to strengthen partnerships and enhance Uganda’s export potential. The event was attended by representatives from airline companies, ground handling agencies, Ministry of Agriculture Animal Industry and Fisheries (MAAIF), Uganda…
Uganda’s Agricultural Exports Surge: A Golden Opportunity for Banks to Boost Trade Finance
Uganda’s merchandise export earnings witnessed a remarkable upswing in February 2025, climbing by 32.3% compared to the same period the previous year. Data from the Ministry of Finance, Planning and Economic Development‘s March 2025 Performance of the Economy Report reveals that exports reached $843.05 million (approximately sh3.1 trillion), a substantial increase from $637.16 million (approximately…
Stanbic Bank Experts Share Secrets to Entrepreneurial Success in Uganda
Being an entrepreneur in Uganda or anywhere else in the world is both rewarding and challenging. While there’s no secret to success, certain characteristics can increase your chances of building a long-lasting and lucrative business. According to experts at Stanbic Bank, successful entrepreneurs possess strengths across different areas. Successful Startups in Uganda Uganda has a…
Managing Strategic Risks in Oil and Gas: A Crucial Step for Uganda’s Economic Transformation
Uganda’s discovery and development of oil resources in the Albertine Graben present a rare opportunity for economic transformation. The oil and gas sector has the potential to drive growth, invest in infrastructure, healthcare, education, and other vital sectors. However, this promise could be undermined by unaddressed strategic risks, hence the need for strategic risk management…
Gov’t Injects Shs370Bn into UEDCL to Upgrade National Power Grid
In a bid to revamp the country’s power grid, the government of Uganda is set to invest US$ 100m about Shs370Bn in the Uganda Electricity Distribution Company Limited (UEDCL), which took over from Umeme at the beginning of this month. This was revealed by Eng. Ziria Tibalwa Waako, the Chief Executive Officer (CEO) of the…
Oil and Gas Industry Is Creating Lasting Value for Communities and Uganda-Min. Mugasa
The oil and gas sector is playing a vital role in creating lasting value for communities in Uganda, driving economic growth and transforming lives. According to State Minister for Public Service, Hon. Grace Mary Mugasa, the sector’s impact is evident in the positive changes it has brought to the lives of Project Affected Persons (PAPs)…
Resumption of Kilembe Mines: A Boost to Uganda’s Industrial Sector
The State Minister for Minerals, Phiona Nyamutooro, over the weekend presided over the handover ceremony of assets of Kilembe Mines Limited to Uganda National Mining Company ( UNMC), Sarai Group and Nile Fireboard Limited, the three entities that are set to revive copper production at the mines. This follows the signing of a Mineral Production…
Strategic Move: What Dr. Namatovu’s Appointment as Executive Director Means for Quality Chemical Industries
Quality Chemical Industries Limited (QCIL) has appointed Dr. Frances Philomena Namatovu as its new Executive Director. This strategic appointment is expected to further enhance the company’s business operations, leveraging Dr. Namatovu’s extensive experience and expertise in the pharmaceutical industry. QCIL is a leading pharmaceutical manufacturer in Uganda, revolutionising the industry with its commitment to quality,…
Dr. Donald Rukare: Elevating Africa’s Voice in Global Sport Leadership
A Champion of Integrity, Inclusion, and International Sport Governance This week, Publicist East Africa proudly features Dr. Donald Rukare, the Interim President of Commonwealth Sport, as our Captain of Industry, a testament to his decades-long journey of blending elite athleticism, legal excellence, and visionary leadership to transform the global sporting landscape. From his early days…
Tanzania’s Trade Ultimatum: A Bold Stance That Could Shake Southern Africa’s Agricultural Landscape
In a move that has sent ripples through the Southern African trade corridors, Tanzania has given South Africa and Malawi an ultimatum over trade restrictions on its agricultural exports. Tanzania’s Agriculture Minister, Hussein Bashe, has demanded that both countries lift the embargoes on Tanzanian agricultural products within one week or face serious retaliatory measures. South…
Benchmarking Mission: Uganda and Tanzania Strengthen Oil and Gas Ties
The Petroleum Authority of Uganda (PAU) today hosted a technical delegation from the Tanzania Petroleum Development Corporation on a benchmarking mission at the Authority’s headquarters in Kampala. This visit is a significant step in strengthening the oil and gas sectors of both countries. According to our sources at the PAU, the team is in Uganda…
Uganda-UK Trade Growth: A Win-Win for Uganda Airlines and Economic Growth- H.E Chesney
The growing trade volume between Uganda and the United Kingdom is a significant development for Uganda Airlines and the country’s economic growth. With direct flights between the two nations via Uganda Airlines, cargo transport will become more efficient, enabling fresh Ugandan products like fish, coffee, fruits, and vegetables to reach the UK market faster. This…
The Catalyst for Women’s Empowerment: Catherine Poran’s Journey as a Captain of Industry
In the vibrant city of Kampala, where ambition and opportunity intersect, Catherine Poran has emerged as a transformative leader at the helm of the Stanbic Business Incubator Limited (SBIL). A visionary strategist and dedicated mentor, Catherine has earned her place among Africa’s most respected business leaders, with a particular focus on driving progress in women’s…
Why Stanbic Bank, BUCADEF Partnership is Key for Promoting Coffee Farming Among Youth in Buganda
Stanbic Bank Uganda this week signed a Memorandum of Understanding (MoU) with Buganda Kingdom through the Buganda Cultural and Development Foundation (BUCADEF) to promote coffee farming among youth in the kingdom. This strategic partnership, which was signed at Mengo, Bulange between the First Deputy Katikkiro, Prof. Twaaha Kigongo Kawaase and Paul Muganwa, the Stanbic Bank…
Afreximbank Hosts Inaugural FOCUS Africa Trade and Investment Forum to strengthen economic integration in Africa
FOCUS Africa will address key investment challenges and unlock high-impact opportunities across multiple sectors, including agribusiness, technology, infrastructure, logistics, energy, manufacturing, mining, tourism, and the blue economy The African Export-Import Bank (Afreximbank), in collaboration with the Ministry of Planning, Economic Development and International Cooperation (MoPEDIC) of Egypt and the Group of African Ambassadors in Cairo,…
Boosting Market Share: What Twesigye’s Appointment as Head of Premium Spirits Means for UBL
Uganda Breweries Limited (UBL) has appointed Catherine Twesigye as the new Head of Premium Spirits, a strategic move to increase the company’s market share in the beverages industry. With over a decade of experience in marketing and sales, Twesigye brings a wealth of knowledge and expertise to her new role. Twesigye’s Background and Expertise Twesigye’s…
Unlocking Potential: Mountains of the Moon University Empowers Farmers, Students through Apiculture
Apiculture, or beekeeping, has emerged as a highly profitable sector in Uganda, driven by the growing demand for honey and its byproducts. Mountains of the Moon University, in collaboration with Coöperatie Leren voor Morgen and other partners like Caritas Foundation-Kasese and Bunyangabu Beekeepers Cooperative, today organised a workshop to equip students, farmers, and staff with…
Sigenergy’s ESG Report: Driving Sustainability and Responsible Growth
Sigenergy, a leading energy innovator, has released its 2024 Environmental, Social, and Governance (ESG) Report, highlighting its efforts to combat climate change, advance clean energy technologies, and contribute to a sustainable, low-carbon future. “Sustainability is a core principle guiding Sigenergy’s growth. We are committed to reducing our environmental impact, developing cutting-edge solutions for a cleaner…
Kenya’s residential market booms: opportunities and challenges ahead
Kenya’s residential market is experiencing remarkable growth across the income spectrum, driven by increasing demand from local buyers, expatriates, and international investors Kenya’s residential market is thriving, driven by rising demand from buyers, expatriates, and international investors. The luxury and affordable housing markets are having a moment with potential buyers. These dynamics will take center…
Unlock Economic Growth Opportunities with Uganda Airlines- Finance Ministry P.S. Ramathan Goobi
Ramathan Goobi, the Permanent Secretary of the Ministry of Finance, Economic Planning and Development, has revealed that Uganda Airlines offers numerous opportunities for the local and business community to drive economic growth. During the Uganda-UK Business Forum held at the Sheraton Kampala Hotel today, Goobi emphasized the importance of leveraging Uganda Airlines’ expansion to support…
Driving Economic Growth: Stanbic Bank, Buganda Kingdom Join Forces to Boost Coffee Farming
In a bid to drive economic growth and fight poverty in Uganda, Stanbic Bank has partnered with Buganda Kingdom to empower coffee farmers in the Buganda region. This strategic partnership, which also aims at empowering SACCOS, was unveiled on Tuesday, April 17, 2025, at a function held at Bulange Mengo, Kampala, presided over by Owek.…
Absa Bank Uganda Reports 22% Profit Growth in 2024, Driven by Strategic Lending and Digital Expansion
Key Financial Highlights Absa Bank Uganda has announced impressive financial results for the year ended December 31, 2024, with profit after tax surging by 22% to Sh178 billion, up from the previous year. The bank’s total revenue grew by 15% to Sh546 billion, driven by strong performance in both interest and non-interest income streams. The results underscore…
Ministry of Health and KAOUN International launch GITEX FUTURE HEALTH AFRICA in Morocco, the foremost healthcare tech event to accelerate digitisation of the region’s healthcare industry
GITEX FUTURE HEALTH AFRICA/Morocco will drive unprecedented impact across Africa, leveraging breakthroughs in technology and AI to enhance quality and access to healthcare During the third annual edition of GITEX AFRICA Morocco, the continent’s largest tech and startup show, His Excellency Mr. Amine Tehraoui, Morocco’s Minister of Health and Social Protection announced the launch of…
Nigeria’s Cross River State second to commence construction of its Special Agro-Industrial Processing Zone
The African Development Bank Group has committed $934 million to SAPZs in 11 African countries Nigeria’s Cross River State became the second to mark construction of a Special Agro-Industrial Processing Zone after the country’s Vice President Kashim Shettima and African Development Bank President Dr. Akinwumi Adesina broke ground at the project site on Thursday 10…
MTN’s SASE Transforms Post Bank’s Digital Operations
The deployment of MTN Uganda’s SASE Business solution has significantly enhanced Post Bank’s operational efficiency, network reliability and security, as well as customer experience. By leveraging this advanced technology, Post Bank has optimized its connectivity across 2 of its branches, ensuring secure, seamless banking operations and cost-effectiveness, as the solution scales to other branches as…
GITEX AFRICA Morocco’s third edition opens to the continent’s largest gathering of globally influential tech leaders, government officials and innovators
GITEX AFRICA Morocco to forge new partnerships and explore new technologies with a broadening impact on Africa’s digital landscape GITEX AFRICA Morocco, the continent’s largest tech and startup show today opened its doors to the biggest players across the local, regional and international digital landscapes, turning the city of Marrakech into an epicentre of advanced…
Afreximbank delivered exceptional 2024 financial performance, cementing its position as a systemic pan-African trade finance institution
These impressive results highlight Afreximbank’s resilience, systemic relevance and its commitment to delivering on its mandate and the objectives set under its Sixth Strategic Plan African Export-Import Bank (“Afreximbank” or the “Group”) has released the consolidated financial statements of the Bank and its subsidiaries, for the year ended 31 December 2024. Financial Highlights Afreximbank reported…
NIC Holdings Announces Retirement of Managing Director and Appointment of Acting CEO
NIC Holdings Limited (NIC) has officially announced the retirement of its Managing Director, Mr. Bayo Folayan, effective 30th April 2025, marking the end of a distinguished 13-year tenure. The company also revealed the appointment of Mr. Elias Edu as the Acting Managing Director and Chief Executive Officer (CEO) to ensure a seamless leadership transition. Mr. Folayan’s…
Remittances Campaign MoMo Rewards Customers with Trips to Mecca and Shopping Vouchers in Ramadan Remittances Campaign
In the spirit of giving and community, MTN MoMo successfully concluded its special Ramadan Remittances Campaign, an initiative designed to reward loyal customers who sent or received money from abroad during the holy month of Ramadan. The campaign underscored the values of connection, generosity, and spiritual reflection during this sacred time. As part of the…
Umeme Rejects Shs432 Bn, Demands More Money from Gov’t As Future of Shareholders Remains Uncertain
A heated dispute has emerged between Umeme Limited and the Ugandan government over the buyout amount following the expiry of Umeme’s 20-year concession in power distribution. The government, through a loan from Stanbic Bank, offered Umeme USD118 million, approximately Shs432 billion as the buyout price. However, Umeme’s Board of Directors, which includes Selestino Babungi, Gerald Majera…
Forex Bureaus and Remittance Operators Handle Trillions, But Who’s Watching the Gate?
By Our Staff Writer As Uganda’s economy continues to digitize and diversify, the financial sector has seen an impressive transformation, particularly within the forex bureau and money remittance subsector. According to the Bank of Uganda, this subsector processed over Shs17.82 trillion in foreign currency sales and handled money remittance inflows and outflows worth USD 921.76…
Empowering Uganda’s Youth: How the Creator Economy Can Drive Growth and Employment
Uganda’s creator economy is rising as a powerful engine for youth empowerment, job creation, and digital innovation. In a country where over 75% of the population is under the age of 30, digital content creation is not just a trend, it’s a national opportunity. From YouTube and TikTok to Instagram and podcasting, creators are reshaping…
Uganda’s Oil Refinery Project: A Game-Changer for the Country’s Energy Sector
The Ugandan government recently took a significant step towards commercializing its oil and gas sector by signing an implementation agreement with Alpha MBM Investments, a Dubai-based company, to construct a USD$4 billion (about Shs1.4 trillion) oil refinery. The production sharing agreement indicates that Uganda owns 40% of the refinery through the Uganda National Oil Company (UNOC),…
Stanbic Bank Hosts Inaugural Financial Literacy Training For Education Institution Heads
Stanbic Bank, the anchor subsidiary of Stanbic Uganda Holdings Limited (SUHL), hosted an inaugural financial literacy session recently for senior administrators of primary, secondary, and vocational schools in the Kampala Metropolitan Area. The event took place at Hotel Africana, in partnership with Opportunity International, and brought together school directors, head teachers, and bursars for a…
Uganda’s Mining Sector: The Impact of President Museveni’s Ban on Raw Mineral Exports
President Yoweri Kaguta Museveni’s new directive banning the exportation of raw minerals from Uganda aims to promote value addition and boost the country’s economy. “If you cannot process minerals from Uganda, leave them alone, and do not export them. Our children will use them in the future, let them stay in the ground,” President Museveni…
Uganda’s innovations and value chains take centre stage at ARFSD11 knowledge fair
The Eleventh Session of the Africa Regional Forum on Sustainable Development (ARFSD-11) was marked by a vibrant Knowledge Fair and Exhibition jointly organized by the United Nations Agencies, Funds and Programmes and coordinated by the Knowledge Management team of ECA and the Government of Uganda. The Knowledge Fair was officially opened by the new chair…
Banking on Health: Ecobank and Jubilee Insurance Are Changing How Ugandans Access Healthcare
In Uganda, health insurance is still something many associate with the privileged few, a luxury service wrapped in paperwork, unfamiliar jargon, and hefty upfront payments. But a quiet shift is taking place. And leading that change is a new partnership between Ecobank Uganda and Jubilee Health Insurance. On the surface, it might seem like an…
Leverage Private Capital To Unlock Uganda’s Economic Potential- CMA Executive Ossiya
Uganda is taking bold steps to harness private capital as a driving force for economic transformation. According to Josephine Ossiya Okui, Chief Executive Officer of the Capital Markets Authority (CMA), the country has introduced significant reforms to facilitate private capital, aligning with the National Development Plan (NDP) III and the Capital Markets Masterplan Uganda. Ms.…
Africa’s Workforce at a Crossroads: Navigating Climate Change and the Green Transition
A side event at the Eleventh Session of the Africa Regional Forum on Sustainable Development (ARFSD) brought together policymakers, economists, and development experts to address the critical challenges and opportunities facing Africa’s workforce in the context of climate change. Organized by the UN Economic Commission for Africa (ECA) – Macroeconomic Policy, Finance and Governance Division,…
11th Africa Regional Forum on Sustainable Development: NOGAMU Commits to Transforming Agricultural Systems
The National Organic Agricultural Movement of Uganda (NOGAMU) has reaffirmed its commitment to transforming Uganda’s food and agricultural systems by supporting organic producers, empowering women-led enterprises, and driving access to global markets through sustainable and ethical value chains. This commitment was highlighted during the 11th Africa Regional Forum on Sustainable Development (ARFSD-11) held at Speke…
Agence française de développement commits additional €3 million to Africa Digital Financial Inclusion Facility to boost digital financial inclusion
The African Development Bank and AFD co-founded ADFI in 2019 with the Gates Foundation and the Ministry of Finance of the Government of Luxembourg The Agence française de développement (AFD) has committed an additional €3 million to the African Development Bank – managed Africa Digital Financial Inclusion Facility (ADFI) to accelerate financial inclusion in Africa. …
UEDCL: Boosting Industrialization in Uganda with Reliable Power Supply and Reduced Tariffs
The Uganda Electricity Distribution Company Limited (UEDCL) has outlined its ambitious plans to promote industrialization and entrepreneurship in Uganda, following its takeover from Umeme Limited. Despite the challenges faced by the company, including power outages and complications with buying and loading light units, UEDCL is committed to delivering a reliable and high-quality power supply to…
Stop Donating Jobs: Why Museveni’s Mineral Export Ban Is Africa’s Wake-Up Call
Op-Ed by Joseph Kanyamunyu Founder & Publisher, Publicist East Africa | Managing Director, Publics Africa Communications | Uganda Partner, Brand Africa When President Yoweri Kaguta Museveni declared at the ARFSD-11 in Kampala that “no unprocessed mineral leaves Uganda now,” I felt a deep and necessary jolt, not just as a Ugandan, but as an African…
EACOP’s Commitment to Preserving Cultural Heritage: A Vital Step for Pipeline Project’s Success
The East African Crude Oil Pipeline (EACOP) project has taken a significant step towards recognizing and safeguarding the land rights of vulnerable ethnic groups self-identifying as indigenous peoples. In collaboration with the Akie community and Kiteto District authorities, EACOP has facilitated the handover of a Certificate of Customary Rights of Occupancy (CCRO) for the Akie…
When the Watchdog Bites: Why Uganda’s Capital Markets CEOs Can Now Be Fired for Being “Unfit”
In a landmark regulatory development, Uganda’s Capital Markets Authority (CMA) has been granted new and far-reaching powers that could significantly reshape executive leadership in the country’s capital markets sector. The amendments, recently passed into law, allow the CMA to remove chief executive officers (CEOs) and other top executives of regulated entities deemed “unfit” to serve.…
Absa Corporate and Investment Banking powers East Africa’s real estate future as lead Sponsor of East Africa Property Investment (EAPI) Summit 2025
The EAPI Summit is East Africa’s premier real estate event, bringing together over 450 global investors, developers, and professionals from the real estate industry Under the theme “Positioning for Opportunity”, Nairobi’s premier real estate event brings global investors and developers together to shape East Africa’s economic landscape. As a proudly Pan-African business with key interests in positively…
Uganda’s Economy Shows Robust Growth as Government Releases Q4 Expenditure for FY 2024/25
The Ministry of Finance, Planning, and Economic Development has announced the release of funds for the fourth quarter (Q4) of the 2024/25 financial year, alongside a positive outlook on Uganda’s economic performance. The press statement, delivered by Permanent Secretary Ramathan Ggoobi, highlights strong GDP growth, stable inflation, and a resilient external sector, underpinned by strategic…
Uganda Crowned Best Investment Destination in East Africa for Third Year Running
Uganda has been voted the Best Investment Destination in East Africa for the third consecutive time at the Annual Investment Meeting (AIM) Congress. This achievement is a testament to the country’s growing attractiveness to investors and the favorable business environment created by the government, according to the State Minister of Finance for Investment and Privatisation,…
Uganda secures UGX 340 billion French funding for Kampala water, infrastructure development
Uganda has secured €85 million (approximately UGX 340 billion) in development aid from France to significantly improve both water infrastructure and broader urban development in the Greater Kampala Metropolitan Area (GKMA), Finance Minister Matia Kasaija announced Wednesday. The loans, signed by Mr. Kasaija and AFD Regional Director Jean-François Arnal at the Ministry of Finance, Planning…
Raise Awareness About Liquidation, Stop Stigma on Insolvency: Deputy Speaker Tayebwa Urges Entrepreneurs
The Deputy Speaker of Parliament, Rt. Hon. Thomas Tayebwa has called upon investors and entrepreneurs in Uganda to stop treating insolvency with stigma, saying that this can only be achieved if they create awareness about liquidation. The Deputy Speaker made these remarks on Thursday, April 10, 2025, while launching the Insolvency Journal at the 8th…
Users to Win UGX 500,000 for Receiving Money from Abroad in Flexipay Easter Campaign.
As the Easter season approaches, Flexipay by Stanbic Bank has announced a new promotional campaign offering users the chance to win UGX 500,000 when they receive money from relatives abroad. From April 7 to June 30, 2025, customers using Flexipay’s international money transfer services will be automatically entered into a weekly draw, with four winners…
We Must Rethink Africa’s Development Beyond Foreign Aid- Claver Gatete
The United Nations Economic Commission for Africa (ECA) Executive Secretary, Mr. Claver Gatete, has emphasized that aid is no longer a viable solution for Africa’s development. Instead, he says the continent needs to adopt bold, transformative actions to drive growth and progress. Speaking at the 11th Session of the Africa Regional Forum on Sustainable Development…
Africa Finance Corporation Tops US$1 Billion Revenue for First Time as Landmark Projects Unlock Growth Across the Continent
AFC’s earnings growth was driven by improved asset yields, prudent cost-of-funds management and sustained traction in advisory mandates Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has announced its strongest financial performance to date, with total revenue for the year ended 31 December 2024 surpassing US$ 1 billion for the first time in…
Africa’s Refining Capacity Is Key to Energy Security and Economic Growth-Sebikari
African countries must invest in new and revamp old refineries to secure their energy future, according to Gloria Sebikari, Head of Corporate Affairs at the Uganda Petroleum Authority (PAU). This call to action emphasizes the need for harmonization between the upstream and downstream sectors of the oil and gas industry. “We must harmonise the upstream…
Afriexim Bank to Revolutionize Trade in Africa with Launch of First African Trade Centre
In a groundbreaking move to transform the business landscape across Africa, the Afriexim Bank (Africa Export-Import Bank) is poised to unveil the first-ever African Trade Centre (AATC) in Abuja, Nigeria. This state-of-the-art business hub is designed to boost trade, support small and medium-sized enterprises (SMEs), and attract investment, ultimately bridging Africa’s trade information gap and…
UEDCL’s Reduced Power Tariffs: A Game-Changer for Uganda’s Manufacturing Sector
The Uganda Electricity Distribution Company Limited’s (UEDCL) recent 14% reduction in power tariffs has been welcomed throughout the country’s manufacturing sector. Manufacturers welcome the move by the entity under Paul Mwesigwa’s stewardship, which is seen as a significant step towards boosting local production, enhancing competitiveness, and driving economic growth. New Era for ManufacturingThe reduction in…
African Development Bank Group President Appoints the United Kingdom Parliamentarian Andrew Mitchell as Senior Advisor on a Pro Bono Basis
Returning to a previously held role where he provided pro bono advice to the Bank, Rt. Hon. Mitchell is passionate about Africa’s development and has extensive knowledge and experience in managing the complexities of global resource mobilization The African Development Bank Group President, Dr. Akinwumi Adesina, has appointed the Right Honourable Andrew Mitchell as his…
Africa Unites for Sustainable Development: Key Takeaways from the 11th ARFSD in Kampala
The 11th Session of the Africa Regional Forum on Sustainable Development (ARFSD-11) concluded at the Speke Resort Convention Centre in Munyonyo, Kampala, bringing together a powerful coalition of African leaders, policymakers, and development partners. The forum served as a crucial platform to accelerate progress on the 2030 Agenda for Sustainable Development and the African Union’s…
6th Africa Climate Talks: How ADB, Partners Seek to Shape Continent’s Climate Agenda
The African Union Commission, United Nations Economic Commission for Africa, and the African Development Bank are hosting the 6th Africa Climate Talks in Kampala, Uganda, on April 7-8, 2025. This critical event brings together government representatives, experts, and stakeholders to coordinate strategies and build consensus on Africa’s climate agenda ahead of the COP30 in Belem,…
Nigeria’s Agro-Revolution: Construction of Special Agro-Industrial Processing Zones (SAPZ) begins
African Development Bank Group and Nigeria Kick Off $538 million agro-industrial project across eight states Nigeria’s food and agriculture sector is set to enter a new era of industrialization, as the Nigerian government, the African Development Bank, and the State government of Kaduna kickstart the construction of Phase 1 of the Special Agro-industrial Processing Zones…
Aga Sekalala’s Appointment As UMA Chairman: A New Era for Uganda’s Manufacturers
The Uganda Manufacturers Association (UMA) has a new champion at the helm, with renowned businessman Aga Sekalala Jr. taking over as Chairman of the Board. Sekalala’s appointment is set to transform the association and Uganda’s manufacturing landscape. A seasoned entrepreneur and local investor, Sekalala replaces the outgoing Chairman Deo Kayemba, whose outstanding service and dedication…
Housing Finance Bank, Pesapal Partner to Boost Financial Inclusion In Uganda
In a significant move to promote financial inclusion and drive Uganda towards a cashless economy, Housing Finance Bank (HFB) has partnered with Pesapal Uganda. This groundbreaking partnership aims to improve payment solutions, enhance operational efficiency, and create a stronger financial ecosystem in Uganda. According to HFB, this partnership is in line with the Bank’s commitment…
African Development Bank and Bank of Africa Tanzania sign $7.5 million facility to boost trade finance
The facility will support small and medium-sized enterprises (SMEs) and local corporates engaged in the import sector The African Development Bank and the Bank of Africa Tanzania (BOAT) have signed a $7.5 million trade finance transaction guarantee facility to boost trade finance activities of the Bank of Africa in Tanzania. Under this facility, the African…
Unlock Domestic Resources for Sustainable Development in Africa- Dr. Ojangole
Dr. Patricia Ojangole, Managing Director of Uganda Development Bank, has called on African leaders to tap into domestic resources to drive economic growth and reduce reliance on foreign loans. She says this approach can help unlock affordable financing, catalyze public and private investments, and promote sustainable development. Speaking during a panel discussion at the Speke…
Uganda and UK Launch Growth Dialogue: Could This Be the Reset Button for Bilateral Prosperity?
Between 2019 and 2022,UK was Uganda’s second largest source of investment after the Netherlands with an average annual foreign direct inflow of USD 685 million and a cumulative stock of USD 3.0 billion by 2023. In a bold move that signals a deepening of economic ties, the British Chamber of Commerce Uganda (BCCU) last week…
Uganda’s Raw Export Ban: A Boost to the Agricultural Sector
President Yoweri Museveni’s new ban on the exportation of raw materials aims to encourage value addition in Uganda, potentially transforming the agricultural sector. President Museveni issued the Monday April 7, 2025, via the official State House X(Twitter) handle @StateHouseUg with the title; ‘No to Economic Haemorrhage!’ This move is expected to have a significant impact…
Ecobank Uganda Partners with Interswitch to Drive Financial Inclusion and Digital Innovation
In a significant move to enhance digital banking and expand financial access, Ecobank Uganda has entered a strategic partnership with Interswitch Uganda, a leading digital payments and commerce company. This collaboration aims to revolutionize banking convenience, security, and accessibility for individuals and businesses across Uganda. The partnership will grant Ecobank customers access to over 650 ATMs nationwide, significantly improving…
Africa’s Climate Clock is Ticking: Will CGIAR Science Week Spark the Breakthrough We Need?
As the world edges closer to climate tipping points, Nairobi this week becomes the heartbeat of agricultural innovation and planetary survival. At the inaugural CGIAR Science Week, global science minds are converging with Africa’s leading development voices and East Africa is right in the spotlight. Among them is Ms. Alice Ruhweza, President of AGRA, a…
Njoroge’s Appointment: A Strategic Move to Boost UBL’s Revenues and Market Leadership
Uganda Breweries Limited (UBL) has made a strategic appointment with the hiring of Josephine Njoroge as the new Director of Finance and Strategy. This move is aimed at boosting the company’s revenue and positioning UBL as a market leader in the region. “Honored to join Uganda Breweries Limited as a Director. UBL has long been…
Safaricom’s Emerald: A Game-Changer in Customer Experience
In an era where personalized services and exclusivity are becoming the norm, Safaricom PLC has once again raised the bar with the launch of Emerald, a platform designed specifically for their most loyal and high-value customers. But this isn’t just another customer loyalty program; it’s a bold step towards redefining what it means to be…
Flavia Tumusiime Returns to NMG as Head of Broadcast: A New Era for Uganda’s Media Landscape
Flavia Tumusiime, one of Uganda’s most celebrated media personalities, has made a dynamic return to the Nation Media Group (NMG) Uganda. In a move that has sparked excitement and intrigue across the broadcasting industry, Flavia has been appointed Head of Broadcast, taking on the strategic leadership of some of Uganda’s most influential platforms: NTV Uganda,…
Uganda’s Exit from the FATF Grey List Is a Victory — But the Real Work Begins Now
By Joseph KanyamunyuDirector, Public Affairs & Government Relations, Publics Africa Communications In February 2024, Uganda crossed a critical threshold. The Financial Action Task Force (FATF), the global authority on combatting illicit finance, removed our country from its grey list a designation that signaled “strategic deficiencies” in anti-money laundering and counter-terrorism financing systems. This delisting is…
Rt. Hon. Thomas Tayebwa: Championing Economic Diplomacy and Legislative Agility for Uganda’s Global Standing
A Parliamentary Leader with the Mindset of a Reformer This week, Publicist East Africa is proud to spotlight Rt. Hon. Thomas Tayebwa, the Deputy Speaker of the Parliament of Uganda, as our Captain of Industry, a bold and articulate leader who is proving that the corridors of Parliament can be as consequential for business as…
African Development Bank and Mozambique launch drone-based initiative to strengthen country’s disaster preparedness
The Drone-Based Disaster Management Project will establish a drone training centre in Mozambique to train 30 professionals, including 10 instructors The African Development Bank, the government of Mozambique, and Korea’s government agency Busan Technopark have launched an innovative drone-driven initiative to strengthen disaster preparedness in Mozambique, a country frequently hit by floods, mudslides, cyclones, and…
Dr. Patricia Ojangole: The Visionary Architect of Uganda’s Economic Transformation
Where Academia Meets Action in Development Finance This week, Publicist East Africa proudly spotlights Dr. Patricia Ojangole, Managing Director of the Uganda Development Bank (UDB), as our Captain of Industry a leader whose work sits at the powerful intersection of rigorous academic inquiry and transformative economic action. Her recent achievement, a PhD from the University…
Keith Kalyegira Takes the Helm at Absa Uganda: What His Appointment Means for the Future of Banking
In a bold move that signals both continuity and a strategic shift, Absa Bank Uganda has appointed Keith Kalyegira as its new Board Chairman a decision that industry insiders say could catalyze significant change in Uganda’s banking and financial services sector. But who is Keith Kalyegira, and why does his name carry weight in East…
Private sector performance continues to improve in March
Key findings Strong demand conditions drove growth in input buying, as firms stocked up amid anticipation of more upturns in activity later in the year, slightly lifting the monthly Stanbic Purchasing Managers’ Index (PMI). The headline Stanbic PMI rose to 52.9 during March, up from 52.6 in February. The latest data indicated back-to-back improvements in…
How Wavamunno Is Building a Legacy of Quality, Innovation and Trust with Wavah Water
In business, few individuals have impacted the Ugandan economy like city businessman Elvis Sekyanzi Wavamunno, son of tycoon Gordon Wavamunno, the proprietor of Spear Motors and several other business ventures. With a career spanning several decades, Wavamunno has established himself as a shrewd entrepreneur with a keen eye for opportunity and is now steadily building…
MTN Uganda delegation recognizes ATC Uganda CEO for advancing women empowerment Initiatives
MTN Uganda’s leadership team, headed by Ibrahim Ssenyonga, General Manager of the Enterprise Business Unit, visited ATC Uganda on April 1, 2025, to commend CEO Dorothy Kabagambe Ssemanda for her instrumental role in promoting women empowerment within the company and the broader telecom sector. The courtesy visit, which took place in commemoration of the just…
Four Points by Sheraton Makes its Debut in Senegal with the Opening of Four Points by Sheraton Dakar Diamniadio
Located in the new Sports City complex and just 20 minutes from Blaise Diagne International Airport Four Points by Sheraton, part of Marriott Bonvoy’s global portfolio of over 30 brands, today announced the opening Four Points by Sheraton Dakar Diamniadio, marking the brand’s debut in Senegal. Whether travellers are visiting Dakar’s ‘smart city’ district of Diamniado…
African Development Bank Supported Projects in Senegal, Rwanda Clinch Top Honors at 2025 Bonds, Loans & ESG Capital Markets Africa Awards
The awards celebrate Africa’s most innovative and transformative financial deals, highlighting exemplary execution, effective mobilization of new liquidity pools, and innovative deal structuring Two African Development Bank Group supported projects have garnered top honours at the 2025 Bonds, Loans & ESG Capital Markets Africa Awards conference. A $545 million sustainable term loan facility in Senegal was…
How Uganda Airlines Is Revolutionizing Travel with Mobile App Payments
The Uganda Airlines Mobile App payment system is a real game-changer in the travel industry, revolutionizing the way passengers book and pay for flights. Jenifer Bamuturaki, the Uganda Airlines Chief Executive Officer, urged travelers to use the Uganda Airlines App, noting that it not only simplifies travel but also ensures that travelers make safe payments.…
Absa Bank Uganda Appoints Moses Rutahigwa as New Retail and Business Banking Director
Absa Bank Uganda has appointed Moses Rutahigwa as Retail and Business Banking Director, effective 02 May 2025. With 17 years of extensive experience in the banking sector, Rutahigwa joins Absa from Standard Chartered Bank Botswana, where he served as Head of Wealth and Retail Banking. His appointment reaffirms Absa’s commitment to strengthening its leadership team…
Petroleum Authority of Uganda Commits to Wildlife Conservation, Boosting Tourism
The Petroleum Authority of Uganda (PAU), which is headed Ernest Rubondo, the Executive Director, has reaffirmed its dedication to sustainable oil and gas development, prioritizing the conservation of Uganda’s rich wildlife heritage in the Albertine region. This strategic approach aims to strike a delicate balance between economic growth and environmental stewardship, ultimately promoting Uganda’s thriving…
Umeme Handover to UEDCL: A Major Milestone in Uganda’s Energy Sector
The recent handover of Umeme’s distribution assets to the Uganda Electricity Distribution Company Limited (UEDCL) marks a significant milestone in Uganda’s energy sector. This development is expected to profoundly impact the country’s economic growth, as it paves the way for improved electricity distribution, increased access to power, and enhanced economic competitiveness. According to the Minister…
What Dr. Gerald Banaga-Baingi’s Appointment As Executive Director Means for Uganda National Mining Company
The Uganda National Mining Company (UNMC) has taken a significant step towards transforming the country’s mining sector with the appointment of Dr. Gerald Banaga-Baingi as its Executive Director. This move is expected to bring about a new era of growth, efficiency, and transparency to the company. With a PhD in Ecomonics from Makerere University, a…
AI Innovation Reigns Supreme: Mountains of the Moon University Wins Big at 15th NCHE Exhibition
The exhibition’s theme, “Strategies, Challenges, and Best Practices for Artificial Intelligence Integration in Higher Education in Uganda,” highlighted the importance of leveraging AI in learning. Prof. Mary Okwakol, Executive Director of NCHE, emphasized the potential of AI in addressing pressing challenges, urging higher education institutions to embrace it for achieving academic excellence. “Artificial Intelligence is…
MTN Uganda honors Dr. Babra Ofwono for accelerating women empowerment
MTN Uganda has honored Dr. Babra Ofwono, the Founder and Chief Executive Officer of Victorious Education Services (VES), for her outstanding contributions to women’s empowerment, particularly in education and leadership. The recognition took place as part of the telecom company’s Women’s Month celebrations, which seek to spotlight female leaders driving societal change. Speaking during the…
Uganda’s Oil and Gas Revolution: How the New Refinery Will Drive Economic Growth
The government of Uganda and its joint venture Alpha MBM Investments signed an implementation agreement worth US$4 billion (about 14.6 trillion) to construct an oil refinery in Hoima District. This will transform Uganda’s oil and gas sector and spur economic growth. The agreement, which was signed before President Yoweri Kaguta Museveni on Saturday, between the…
Bank of Baroda Uganda Limited Reports Strong Financial Performance for 2024
Bank of Baroda (Uganda) Limited has released its Annual Report and Audited Financial Statements for the year ended December 31, 2024, showcasing robust financial health and strategic growth. The report highlights the bank’s resilience in a dynamic economic environment, marked by prudent risk management, enhanced corporate governance, and a commitment to innovation. “I am pleased…
Billions In Investment Opportunities presented by Premier Invest at Congo Energy and Investment Forum 2025
Premier Invest has presented a range of investment opportunities, totaling a minimum $1.37 billion, in Africa’s energy and oil and gas sectors at the inaugural Congo Energy & Investment Forum Financial services provider Premier Invest has announced a series of investment opportunities in the African energy and oil and gas sectors, covering a range of…
Is EACOP a Game-Changer or Gamble? How Stanbic and Other Banks Are Powering Uganda’s Oil Dream
As Uganda inches closer to joining the ranks of oil-producing nations, one project remains at the heart of its ambitions: the East African Crude Oil Pipeline (EACOP). Stretching 1,443 kilometers from the oil fields of mid-western Uganda to the Tanzanian port of Tanga, EACOP is one of Africa’s most ambitious energy infrastructure projects. And now,…
Uganda Prisons Boss Byabashaija Hails Stanbic For Extending Unmatched Financial Solutions to Officers
The Commissioner General of Prisons, Can. Dr. Johnson Byabashaija, recently hosted a delegation from Stanbic Bank, a member of the Standard Bank Group led by Kevin Wingfield, Head of Personal and Private Banking (PPB) for East and West African regions. Talks centered on strengthening partnerships, enhancing financial solutions, and rolling out key initiatives to support…
Afreximbank and Zep-Re launch the Trans-Africa Bond Alliance
The alliance will harmonize trade practices and introduce a standardised framework that ensures secure, predictable, and efficient trade movement African Export-Import Bank (Afreximbank) and Zep-Re (PTA Reinsurance Company) today launched the Trans-Africa Bond Alliance (TABA), a transformative initiative, designed to bridge the insurance capacity gap and empower African contractors to secure more construction and procurement…
Stanbic Bank Uganda Elevates Paul Muganwa to Executive Director: A Strategic Move to Reinforce Market Leadership
Muganwa’s inclusion on the Board signals the bank’s intent to further integrate strategic deal-making and long-term investment thinking into its top-level decision-making an edge that could redefine how Stanbic delivers value to large corporates, institutions, and high-value clients. The appointment brings the number of Executive Directors at the Bank to three, including Mr. Samuel Fredrick…
Controversy As Auditor General Slashes Umeme Buyout Figure From Shs700.218Bn To Shs432.677Bn
In a fresh twist of events, the Auditor General, Edward Akol, has revised the figure for the Umeme buyout from the earlier estimated Shs700.218 billion to Sh432.677 billion, a move that’s bound to spark controversy. The Speaker of Parliament Rt. Hon. Anita Among has revealed that Parliament has been informed by Akol that the US$190,988,556 (Shs700.218…
Uganda’s Coffee Industry Rakes In US$ 167M, Boosts Economic Growth
Uganda’s coffee industry is experiencing a significant surge, with exports reaching unprecedented heights. According to a recent report from the Ministry of Agriculture, Animal Industry and Fisheries, coffee exports in February 2025 totaled 555,756 60-kilo bags, worth a staggering US$167.68 million, about Shs616.1 billion. The report reiterates the remarks of East African economist Christopher Legilisho,…
African Development Bank Group to expand investment in Lesotho to $331 million
“We will continue to support Lesotho very strongly through our new focus on infrastructure for industrial competitiveness” Akinwumi Adesina The African Development Bank Group plans to invest $331 million in key strategic sectors in Lesotho as part of its proposed Country Strategy Paper for 2025-2030 to boost economic growth and industrial competitiveness. During an official…
Revolutionizing Agriculture: PeDD App Leveraging AI to Boost Crop Yields in Uganda
A team of innovative Ugandan researchers, led by Fiona Magoba and Louis Muhindo, has developed a groundbreaking mobile application, PeDD, which empowers farmers to diagnose crop diseases instantly and receive expert recommendations for treatment and prevention. This cutting-edge technology has the potential to transform Uganda’s agricultural sector, promoting sustainable practices and reducing crop losses. Speaking…
Ethiopian Airlines Group and African Development Bank sign Letter of Intent for financing of world-class Abusera International Airport
The new Abusera International Airport will complement Ethiopia’s recently expanded Bole International Airport, which is expected to reach its annual 25 million passenger capacity limit soon The African Development Bank and Ethiopian Airlines Group have signed a Letter of Intent for the development of the East African nation’s planned Abusera International Airport Project. The $7.8…
Afreximbank breaks ground on historic state-of-the-art Afreximbank African Trade Centre (AATC) in Barbados, first outside Africa
This groundbreaking event marks the official commencement of construction for this historic project and is a significant step in Barbados and CARICOM’s journey towards economic advancement and regional integration African Export-Import Bank (Afreximbank), Africa’s leading Multilateral Financial Institution, made history today when it broke ground on its first-ever state-of-the-art Afreximbank African Trade Centre (AATC) in…
Network International and Flydubai Unveil Mobile Money Payments for Travelers in Kenya, Uganda
In a move to revolutionize mobile money payments, Network International, a leading enabler of digital commerce, has partnered with Dubai-based carrier Flydubai to introduce mobile money payments for customers in Kenya and Uganda. This partnership enables travelers to pay for bookings and airline-related services using popular mobile money services such as M-Pesa, Airtel Money, and…
Min. Nankabirwa Guarantees Power Stability as Umeme Exits, Amidst Shs853Bn Buyout Controversy
The Minister for Energy and Mineral Resources Ruth Nankabirwa downplayed fears that the power supply in the country is set to be interrupted with the exit of Umeme, following the expiry of the company’s concession on March 31, 2025. After Umeme’s exit, the Uganda Electricity Distribution Company Limited (U.E.D.C.L) is set to take over as…
Côte d’Ivoire: African Development Bank Group and Council of the Entente Join Forces to Boost Regional Growth in West Africa
Nnenna Nwabufo, the Bank’s Vice-President for Regional Development, Integration, and Business Delivery, met with a delegation from the Council led by Deputy Executive Secretary Ali Idi at the Bank’s headquarters in Abidjan A new chapter of regional collaboration is taking shape in West Africa as the African Development Bank and the Council of the Entente…
Uganda Development Bank Unveils Women Prosper Loans to Boost Financial Inclusion and Economic Growth
In a bid to promote financial inclusion and support the government’s objective of economic growth, the Uganda Development Bank (UBD) has launched the Women Prosper Loans. This innovative financial product is specifically designed to empower female entrepreneurs, providing them with the necessary financial support to start, grow, or expand their businesses. Promoting Financial Inclusion The…
Cameroon: AfDB approves €330 million loan to upgrade Ngaoundéré-Garoua road to improve connectivity and strengthen regional integration
The aim of the programme is to modernise a strategic section of Cameroon’s road network, which is essential for transporting people and goods between the north and south of the country The African Development Bank Group has given the green light to a loan of €330.48 million to Cameroon to redevelop and widen a key…
Sustainable Development: Denmark Joins Battle Against Deforestation In Uganda
In a bid to combat deforestation and promote sustainable development, the government of Denmark has pledged to partner with Uganda on a massive reforestation campaign in an initiative that aims to plant at least 29 hectares of trees in the country. Uganda’s forest cover has significantly declined since 1990, from 24% to around 9% by…
Stanbic Uganda Sets the Pace: Record Profits, Strong Growth, and a Bold Commitment to Uganda’s Sustainable Future
In a year defined by resilience and growth, Stanbic Uganda Holdings Limited has once again proven its leadership in Uganda’s banking sector. The company’s stellar 2024 financial results underscore its unwavering commitment to not only driving profitability but also contributing to Uganda’s long-term socio-economic development. Stanbic Uganda’s remarkable growth story continues, with revenue surging to…
Helpware CEO backs Uganda’s new BPO Policy as a game-changer
Helpware, a global leader in Business Process Outsourcing (BPO), has welcomed Uganda’s newly launched BPO policy, hailing it as a transformative step in positioning the country as a major outsourcing hub in Africa. Speaking at a media briefing in Kampala, Helpware CEO Robert Nash said the policy provides a structured framework that strengthens Uganda’s position…
What Gov’t Ban On Doctors Owning Private Clinics Means to Uganda’s Health Sector
The Ugandan government‘s decision to ban doctors and medical personnel employed by the state from owning and running private facilities is a move aimed at improving service provision in the health sector. This directive, set to take effect on July 1, 2025, as part of the National Development Plan (NDP IV), seeks to address issues…
Somalia joins Afreximbank as it seeks to boost Intra-African trade and economic growth
Somalia’s membership of Afreximbank is a significant milestone that places the country on a path of sustainable economic transformation, upgrading of the country’s trade and industrial infrastructure Somalia has formally acceded to the Establishment Agreement of African Export-Import Bank (Afreximbank), becoming the 53rd African member state of the African multilateral financial institution and bringing the…
Stanbic Bank, UBL Sound the Alarm: Private Sector Must Act on Sustainable Water Usage to Combat Climate Change
The private sector has a critical role in promoting sustainable water usage and mitigating the effects of climate change. This was emphasized by officials from Stanbic Bank Uganda and Uganda Breweries Limited (UBL) during a panel discussion organized by the Ministry of Water and Environment in commemoration of National Water and Environment Week 2025. The…
MTN Uganda Honors DFCU’s Kate Kiiza for Championing Women’s Empowerment
As part of its Women’s Month celebrations, MTN Uganda’s Business Segment Manager, Justina Icabala paid a special visit to DFCU Bank’s Executive Director & Chief Corporate and Institutional Banking Officer, Kate Kabaingi Kiiza to recognize her outstanding efforts in advocating for women’s empowerment. This heartfelt gesture underscored the importance of collaboration in fostering gender equality…
Promoting Sustainability: Crown Beverages Expands Product Base with Nivana Premium Bottled Water
In a strategic move to expand its product offerings and cater to premium customers, Crown Beverages Limited has launched Nivana Packaged Drinking Water in sleek glass bottles. This innovation not only responds to customer demand but also supports environmental sustainability, giving Crown Beverages a competitive advantage in the Ugandan beverage market. According to Commercial Manager…
Roofings: A Catalyst for Economic Growth and a Potential Customer for Oil and Gas Sector-Nyamutoro
Roofings, a leading manufacturer of steel products in Uganda, is playing a vital role in contributing to the country’s economic growth. With its state-of-the-art manufacturing facilities and commitment to quality, Roofings, which is under the proprietorship of Sikander Lalani, is not only providing employment opportunities but also supporting the construction and infrastructure development sectors. It…
MTN Uganda invests Shs 327 million in a new classroom block to boost education in Soroti District
MTN Uganda, through its Corporate Social Responsibility arm, MTN Foundation, has today officially inaugurated a new school block at Ocokican Community Secondary School in Ocokican Sub-County, Soroti District, in Eastern Uganda. This significant development includes two classrooms, a laboratory, 60 desks, 10 lab tables, 60 stools, a water harvesting system, two sanitary facilities, and a…
Strategic Partnerships: The Key to Unlocking Uganda’s Oil and Gas Potential-Sekatawa
As Uganda’s oil and gas sector continues to evolve, strategic partnerships have emerged as a vital component for driving growth, productivity, and profitability. According to Ali Sekatawa, Director Legal, at the Petroleum Authority of Uganda (PAU), partnerships at all levels are crucial for the sector’s success. Sekatawa, who was speaking at the (Insurance Consortium on…
Umeme Buyout Revised to Shs699Bn as UEDCL Seeks Shs190Bn Loan to Take Over
The Ugandan government has revised the final buyout price for national power distributor Umeme to USD190.9 million, approximately Shs699 billion, from the earlier estimated USD191 million, about Shs700 billion. This development comes as Umeme’s concession ends on March 31, 2025. Government Secures Loan for Buyout To facilitate the buyout, the government has secured a loan…
African Development Bank Mulls $500 Million Facility to Mobilize Financing for Smallholder Farmers
The Bank has approved 77 projects valued at $3.9 billion to support the implementation of Country Food and Agriculture Delivery Compacts across 32 countries, with an additional $1.72 billion in planned approvals this year African Development Bank Group, President Dr. Akinwumi Adesina has announced plans to launch a $500 million facility designed to unlock $10…
Ecobank named Africa’s Best Bank for Trade Finance in Global Finance Awards
Also wins Best Bank for Trade Finance in Burkina Faso, Côte d’Ivoire and Rwanda Ecobank Group, the leading private pan-African financial services group with unrivalled African expertise, is proud to be named as the Best Trade Finance Provider Bank in Africa, at the Global Finance Trade Finance & Supply Chain Finance Awards 2025. Additionally, its…
MTN Uganda Applauds UN Women for Championing Women Empowerment
As the world celebrates Women’s Month, MTN Uganda’s Senior Manager for Supply Chain Logistics, Sharon Nyaika, paid a courtesy visit to Dr. Paulina Chiwangu, the UN Women Representative in Uganda. The visit was a gesture of appreciation for UN Women’s relentless efforts in advancing gender equality and empowering women across various sectors in Uganda. Central…
Sustainable Development: The Key to Uganda’s Economic Transformation-UDB Boss Ojangole
Uganda’s economic transformation can only be achieved through sustainable development, according to Patricia Ojangole, Managing Director of the Uganda Development Bank Limited (UDBL). This statement emphasizes the crucial role sustainable development plays in driving economic growth while mitigating climate change. Ojangole, who was speaking at the launch of RISE (Reshaping Industries for a Sustainable Economy),…
Uganda Airlines’ London Flight: A Game-Changer for Tourism and Trade
Uganda’s national carrier, Uganda Airlines, has launched direct flights from Entebbe to Gatwick Airport in London, marking a significant milestone in the country’s aviation history. This new route is expected to boost tourism and trade between Uganda and the United Kingdom, driving economic growth and development. The revelation was made today by the Uganda Airlines…
Building Local Expertise: EACOP Empowers Ugandan Engineers with Specialized Training
The East African Crude Oil Pipeline (EACOP) Limited has taken a significant step towards building local expertise in Uganda’s oil and gas sector. In collaboration with Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Limited (PCK) and Avanti Energy Services Limited (Avanti ESL), EACOP conducted a specialized training session for Ugandan engineers, focusing on…
AFC, Ecobank & Soto Gallery Bet Big on African Art at +234Art Fair – Can Nigeria Lead the Continent’s Creative Boom?
Over 260 Young Artists Poised to Showcase Talent as Africa’s Creative Economy Gains Momentum Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, is doubling down on its commitment to Africa’s creative economy by partnering with Ecobank Nigeria, Soto Gallery, and Craneburg Construction for the second edition of the +234Art Fair. This high-profile event,…
MTN Uganda Celebrates Women’s Month with UHOA CEO, Jean Byamugisha
In celebration of Women’s Month, MTN Uganda’s General Manager for the Enterprise Business Unit, Ibrahim Senyonga, paid a courtesy visit to Jean Byamugisha, Chief Executive Officer of the Uganda Hotel Owners Association (UHOA), in appreciation of her remarkable leadership in the hospitality sector. During the visit at the UHOA offices in Kampala, Senyonga remarked, “In…
Gov’t Launches Climate Mobility Blueprint to Mitigate Adverse Effects of Climate Change
The government of Uganda has, through the Climate Change Department (CCD), launched the Climate Mobility Blueprint for Uganda, a groundbreaking initiative developed by the Global Climate Center for Climate Mobility (GCCM), in collaboration with the Ministry of Water and Environment. According to Dr Alfred Okidi Okot, who heads the CCD, the Climate Mobility Blueprint is…
PAU Boss Rubondo Lauds Insurers Over Transparency on Oil and Gas Sector Revenue
The Executive Director of the Petroleum Authority of Uganda (PAU), Ernest Rubondo, has hailed insurers in Uganda for their transparency in declaring revenue from the oil and gas sector. Speaking at the Insurance Consortium for Oil and Gas Uganda (ICOGU Energy Symposium), at Sheraton Kampala Hotel, on Thursday, Rubondo emphasized PAU’s commitment to supporting the…
Africa’s Green Growth Agenda: Unlocking Opportunities for a Climate-Resilient Future
By leveraging platforms like AGES, Africa can strengthen partnerships, unlock funding, and implement policies that drive a sustainable and resilient future The African Development Bank Group participated in the third edition of the Africa’s Green Economy Summit (AGES) in Cape Town, South Africa, from 18 – 21 February, 2025. The annual Summit, hosted by the…
AI, Ethics, and Strategic Consulting: The Future of Public Relations in Uganda and Beyond
The public relations (PR) industry is going through some pretty wild transformations, and it’s not just about creating buzz anymore. According to the ICCO World PR Report 2024-2025, a wave of changes is sweeping across the global PR landscape—changes that are shaping how brands communicate, influence, and thrive in today’s fast-paced, tech-driven world. In this…
Global and African Financial Experts Urge Action to Enhance Smallholder Farmer Financing
The conference represents a pivotal step in mobilizing the billions needed annually to support Africa’s smallholder farmers, who make up some 80% of the continent’s farming population but control less than 5% of agricultural land Leading global and African financial experts have issued a resounding call to align financial structures with the needs of smallholder…
Uganda’s Power Transition: Can the Government Fix Umeme’s Legacy of Blackouts?
As Uganda readies itself for the monumental shift in its power distribution sector, the clock is ticking toward April 1, 2025, when Umeme’s long-standing monopoly will come to an end. The transition of power distribution to the Uganda Electricity Distribution Company Limited (UEDCL) is meant to address longstanding concerns of unreliable power, but questions abound:…
Bank of Uganda Moves to Protect Borrowers’ Properties from Being Attached By Lenders
To streamline Uganda’s mortgage financing sector, the Central Bank has tabled before Parliament a Bill that seeks to protect borrowers’ properties from being attached. The Mortgage Refinancing Institutions Bill 2025, which was tabled before the Parliament last week, states that collateral pledged by a primary mortgage lender to a mortgage refinance institution shall not be…
MTN Uganda Honors Stanbic’s Catherine Poran for Championing Business Growth and Women’s Empowerment
As the world continues to commemorate Women’s Month this March, MTN Uganda’s General Manager of the Enterprise Business Unit, Ibrahim Senyonga, paid a courtesy visit to the Chief Executive of Stanbic Business Incubator, Catherine Poran. The visit was a gesture of appreciation for her outstanding leadership and contribution to the business sector in Uganda, particularly…
Africa Finance Corporation Broadens its Regional Footprint with Comoros Membership
AFC’s diverse membership spans all regions of Africa, reinforcing its role as a leading infrastructure solutions provider for Africa Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has welcomed the Union of Comoros as its 44th member country, reflecting continued support from more than three-quarters of Africa’s nations. This membership provides a platform for…
NWSC Managing Director Inspects Kagera Water Project, Urges Quality, Collaboration
The Kagera Water Project is nearing completion, with National Water and Sewerage Corporation (NWSC) Managing Director Dr. Eng. Silver Mugisha emphasizing the need for patriotism and collaboration to ensure timely completion by June. During a preliminary inspection in Kikagate, Isingiro District, Dr. Mugisha highlighted challenges faced by the project, including difficulties in obtaining permission to…
Schools Participating In the Stanbic Bank National Schools Championship Unveiled
The list of schools that qualified to participate in the 10th Anniversary of the Stanbic Bank National Schools Championship has finally been released. The participating schools were announced on Monday during the official unveiling of the Stanbic Bank National Schools Championship 2025, during a function that was held in Kampala. Themed ‘The Battle of the Champions’,…
President Ruto Hails ADB President Adesina For Driving Africa’s Economic Transformation
The African Development Bank (ADB), under the leadership of its outgoing President Akinwumi Adesina, is playing a pivotal role in driving economic growth in various African countries, including Uganda. In recognition of his efforts to transform African economies, Kenyan President William Samoei Ruto today conferred the country’s highest honour, Chief of the Order of the…
Atiak Sugar Factory: Is It Becoming Another White Elephant As Gov’t Injects In More Shs115Bn?
The Ugandan government’s recent allocation of an additional Shs 115 billion to Atiak Sugar Factory has raised eyebrows among citizens, with many questioning whether the investment reflects value for money. This new investment brings the total government investment in the factory to Shs 668.7 billion, sparking concerns about the factory’s productivity and the government’s interests.…
Algeria steps up preparations for the Intra-African Trade Fair 2025 (IATF2025) as six-month countdown starts
IATF is a platform for boosting trade and investment in Africa and aims to tap into opportunities from AfCFTA’s single market of over 1.4 billion people and a GDP of over US$3.5 trillion Preparations are on course for the Intra-African Trade Fair 2025 (IATF2025), Africa’s premier trade and investment event that will be held in…
Africa Finance Corporation (AFC) Sweeps IJGlobal and Global Capital Awards with Hat Trick of Major Wins
Earning Guarantor of the Year, the Market Innovation Award, and African Deal of the Year reaffirms AFC’s expertise in attracting global capital to African markets Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has been honoured with three prestigious accolades, further underscoring its impact in shaping Africa’s financial landscape. At the IJGlobal Awards…
Uganda’s Oil and Gas Sector: A Catalyst for High-Level Engineering Capacity and Economic Growth-Rubondo
The discovery of oil and gas reserves in Uganda has sparked a wave of excitement and investment in the country’s energy sector. As the sector continues to grow, it is rapidly developing high-level engineering capacity in Uganda, with far-reaching implications for the country’s economic growth and development. According to Ernest Rubondo, the Chief Executive Director…
Nile Breweries and Red Bull Partnership: A Win-Win for Uganda’s Alcoholic Beverages Industry
In a strategic move to expand its market share, Nile Breweries Uganda Limited has endorsed a distribution agreement with Red Bull and Charms, becoming the official distributor of Red Bull products in Uganda. This partnership is a win-win for both parties, with Nile Breweries gaining access to a globally recognized energy drink brand, and Red…
Sustainable Finance Gets a Boost: Bank of Uganda Moves To Regulate Green Financing In Uganda
The Bank of Uganda, headed by Governor Dr. Michael Atingi-Ego, is taking a significant step towards promoting environmental sustainability by drafting a policy framework that will regulate the impact of banking institutions on the environment. This move is expected to make access to loans for projects harmful to the environment, such as charcoal burning, more…
Ministry of Digital Transition and Administration Reform, the Digital Development Agency and GITEX Africa Morocco 2025 organiser announce the landmark third edition in Marrakech
Africa’s Largest Tech & Startup Show Expands, Introducing Industry-Defining Innovations, Global Exhibitors, and Cutting-Edge Digital Initiatives Under the High Patronage of His Majesty King Mohammed VI, May God Assist Him, the Ministry of Digital Transition and Administration Reform, in partnership with the Digital Development Agency (ADD) and KAOUN International, has officially announced the much-anticipated third edition of GITEX Africa Morocco,…
Mono’s Appointment as Acting Director General: A Boost to East African Development Bank
The East African Development Bank (EADB) has embarked on a search for a new Director General, following the departure of Ms. Vivienne Yeda. As the search continues, Mr. Bernard Paul Mono has been appointed Acting Director General, effective March 14, 2025. With over 20 years of experience in development finance, Mono is well-equipped to steer…
Gov’t Injects More Shs60Bn Into Tugume’s Inspire Africa Coffee Value Addition Plant
The government of Uganda has allocated Shs60 billion towards the completion and operationalization of the Coffee Value Addition Plant in Ntungamo District. The Coffee Value Addition Plant, being overseen by Nelson Tugume, the proprietor of Inspire Africa Coffee Group, is projected to be a ‘Tertiary Hub for last mile Coffee Value Addition.” It is being…
Bank of Uganda’s New Regulatory Framework: A Turning Point for Mortgage Finance in Uganda
The Bank of Uganda (BOU) is set to introduce sweeping changes to Uganda’s mortgage finance sector with the upcoming Mortgage Refinance Institutions Bill, 2025. Once passed into law, this bill will empower the BOU to regulate mortgage refinancing institutions, including those offering Islamic mortgage refinancing services, in an effort to improve affordable housing access and…
Unlocking Uganda’s Mineral Potential: Why Sustainable Development Matters-Min. Nankabirwa
Uganda’s Minister for Energy and Mineral Development, Ruth Nankabirwa, has emphasized the need for a sustainable mineral development policy to optimize the country’s natural resources. This call to action comes as Uganda launches the Sustainable Development of the Mining Sector project, a joint initiative with the European Union Delegation to Uganda and the German Federal…
Uganda Airlines, UN Regional Service Centre Partnership to Boost Tourism and Economic Growth
Uganda Airlines Limited has strengthened its partnership with the UN Regional Service Centre Entebbe (RSCE) through the signing of a Master Travel Discount Agreement. This collaboration, which was signed by Mr. Paulin Djomo, the Director of Administration at RSCE and a team from Uganda Airlines, is set to promote tourism and boost economic growth in…
Gov’t Secures Additional Shs298 Billion to Sink In Pinetti’s Lubowa International Specialized Hospital
The Parliament of Uganda on Wednesday approved an additional payment of Shs298 billion to Enrica Pinetti for the construction of Lubowa International Specialized Hospital, bringing the total amount of funds sunk into the project so far to Shs774.469 billion. The government was able to secure the additional Shs298 billion through a supplementary budget that was…
Uganda Allocates Shs. 166.5 Billion for East African Crude Oil Pipeline in Supplementary Budget
The government of Uganda has set aside Shs. 166.5 billion in a supplementary budget to support the construction of the East African Crude Oil Pipeline (EACOP). This significant allocation aims to accelerate the pipeline’s completion, enabling Uganda to meet its revised production deadline of 2026-2027. EACOP: A Critical Infrastructure Project The EACOP is a 1,443km…
Uganda Takes Giant Leap Towards Clean Transportation with its First EV Charging Station
In a significant move towards promoting clean energy, Uganda’s Minister of Energy and Mineral Development, Hon. Ruth Nankabirwa, launched the country’s first electronic vehicle (EV) charging station. Nankabirwa said during the launch that this milestone marks a crucial step in Uganda’s journey towards reducing its reliance on fossil fuels and embracing sustainable transportation. “This initiative…
France Injects Shs340 Billion into Uganda’s Water Sector to Enhance Kampala’s Infrastructure
The government of Uganda has secured a significant €85 million (approximately Shs 340 billion) development loan from France, aimed at enhancing water infrastructure and urban development in the Greater Kampala Metropolitan Area (GKMA). This funding, announced by Finance Minister Matia Kasaija on Wednesday, will be instrumental in addressing the pressing water supply challenges faced by…
I’m An Agripreneur: How Aturinda Has Become a Beacon of Hope In Agribusiness With Nouri-Mix Porridge
In the heart of Uganda, a remarkable entrepreneur, Aturinda Catherine, is revolutionizing the agribusiness sector. As a passionate agricultural researcher and clinical nutritionist, Aturinda is dedicated to feeding Ugandans nutritious food while earning a substantial income. From Humble Beginnings to Success Aturinda’s journey began at the Mwana Mugimu Nutrition Unit, where she learnt a lot…
MTN Celebrates Ugandans’ Resilience and Progress in Second Phase of “Together We’re Unstoppable” Campaign
MTN Uganda, the country’s leading telecom and technology company, is proud to launch the second phase of its dynamic brand campaign “Together We’re Unstoppable”. Building on the success of its first phase, this campaign continues to celebrate the hard work, innovation, and resilience of Ugandans. It also reaffirms MTN’s commitment to supporting their aspirations through…
PAU’s Sekatawa: Journalists Crucial to Uganda’s Oil and Gas Sector Growth
The Petroleum Authority of Uganda (PAU) has emphasized the crucial role journalists play in promoting Uganda’s oil and gas sector, urging them to report on the industry with a sense of national duty. Why Journalists Matter Journalists are key stakeholders in the oil and gas sector because their reporting can significantly impact the country’s ability…
Global Firms Target Malawi’s $30Bn Mineral Boom
Malawi’s $30 billion mining potential is attracting global investors, with major deals and projects set to take center stage at African Mining Week 2025 Malawi could generate up to $30 billion from mineral exports between 2026 and 2040, with annual revenues expected to hit $3 billion by 2034, according to the World Bank. The financial…
Mengo Hospital and Rotary Club Join Forces to Combat Kidney Disease
Mengo Hospital has partnered with Rotary Kampala South to enhance its Dialysis Unit, aiming to increase accessibility and affordability of life-saving dialysis services. This collaboration was announced during a fundraising breakfast at the hospital, where the Rotary District Governor, Anne Nkutu, commended the hospital’s medical team for their dedication to providing quality and affordable care.…
Centenary Set To Go Public
Uganda’s banking sector is on the brink of a transformative moment as Centenary Bank, one of the country’s leading financial institutions, prepares to list up to 10% of its shares on the Uganda Securities Exchange (USE). This move marks a significant milestone not only for the bank but also for Uganda’s capital markets, which have…
Stanbic Economic Insights Symposium: Oil and Gas Sector to Spur Uganda’s Economic Boom-Legilisho
Uganda’s economic growth is poised to receive a significant boost from the oil and gas sector, according to Christopher Legilisho, a Senior Economist at Stanbic Bank. Speaking at the Stanbic Bank Economic Insights Symposium, Legilisho projected that the oil and gas sector will become a key driver of economic growth, enabling the government to offset…
Climate-Smart Agriculture: The Future of Sustainable Farming in a Changing Climate
The world is facing unprecedented challenges in feeding its growing population amidst rising temperatures, unpredictable weather patterns, and declining soil fertility. However, according to Jean Claude Niyomugabo, a researcher with Agribusiness Community, a Non-Governmental Organisation (NGO), an innovative approach is transforming the way we grow food: Climate-Smart Agriculture (CSA). Niyomugabo contends that this revolutionary method…
Uganda’s Economy: A Vitz Navigating Kampala’s Potholes – Adam Mugume’s Hard-Hitting Reality Check at Stanbic Economic Insights Symposium 2025
Kampala, Uganda – The Stanbic Economic Insights Symposium 2025 wasn’t just another gathering of policymakers and economists. It was a reality check. And when Adam Mugume, Executive Director at Bank of Uganda, took the stage, he delivered an analogy that perfectly encapsulated Uganda’s economic journey—likening it to a Vitz navigating Kampala’s notorious potholes. Uganda’s Economy:…
Scottish Africa Business Association and APO Group Partner to Promote African Trade and Investment Between Scotland and Africa
The collaboration with SABA aligns with the company’s vision of championing Africa’s narratives, amplifying Africa’s voices, and bridging Africa and the world The Scottish Africa Business Association (SABA), a membership organisation seeking to facilitate commercial success by connecting Scotland and Africa, and APO Group, the award-winning pan-African communications consultancy and press release distribution service, are…
Billions Wasted as National Medical Stores Stockpiles Expired COVID-19 Vaccines While Hospitals Face Drug Shortages
As hospitals across Uganda struggle with severe shortages of essential medicines, a report by the Auditor General has revealed a shocking case of mismanagement at the National Medical Stores (NMS), where expired drugs worth billions of shillings continue to pile up. COVID-19 Vaccine Expiry: Billions Down the Drain According to the Auditor General’s report, NMS,…
Uganda’s Economic Growth Driven by Gold and Coffee Exports- Legilisho Says At Stanbic Bank Economic Insights Forum
The Stanbic Bank Economic Insights Symposium, held at the Serena Hotel in Kampala today, has shed light on Uganda’s economic performance, highlighting the significant role of gold and coffee exports in driving economic growth. According to Christopher Legilisho, a lead economist with Stanbic Bank Group, goods exports increased by 24.5% year-over-year, reaching a cumulative total…
Min. Nyamutooro Launches Coffee Marathon As Farmers Decry Poor Yields Due to Severe Drought
The state Minister for Minerals, Hon. Phiona Nyamutoro, joined Inspire Africa Coffee during the weekend to launch the first ever Coffee Marathon in Uganda. The Coffee Marathon, which is set to happen on May 24, 2025, at the Inspire Africa Coffee Park in Kabuhungu Hills, Rwashamire town Council, is themed ‘Uplifting coffee women from poverty’ and aims…
Kaspersky uncovers sophisticated deception campaign using DeepSeek AI as bait
Kaspersky’s Threat Research and AI Technology Research have jointly identified a sophisticated deception campaign exploiting the rapid growth and public interest surrounding DeepSeek AI Security researchers at Kaspersky have revealed how cybercriminals used geofencing, compromised business accounts and coordinated bot networks to distribute malware disguised as DeepSeek AI software, generating over 1.2 million views on…
Africa Finance Corporation Marks First London Stock Exchange Listing with Market Close
AFC’s delegation, alongside key partners, participated in the ceremonial Market Close, culminating in the presentation of a commemorative glass tablet and the signing of the LSE’s Welcome Book Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, had the honour of closing the market at the London Stock Exchange (LSE) in recognition of its…
Ernest Rubondo: Tilenga Project Achieves Significant Milestone with Over 110 Wells Drilled
Uganda’s Oil and Gas sector is gaining momentum, with the Tilenga Project in the Albertine Rift being a prime example. The latest updates indicate that currently over 110 wells have been drilled, marking significant progress in the project. This milestone was revealed by Ernest Rubondo, Executive Director of the Petroleum Authority of Uganda, during a…
MTN Uganda empowers vulnerable young women in Iganga with UGX 18M equipment donation
MTN Uganda, through its Corporate Social Responsibility arm, the MTN Foundation, is proud to support the Hands of Hope Uganda, a non-governmental organization dedicated to empowering vulnerable young women—survivors of gender-based violence, teenage pregnancy, and early marriage—with livelihood skills such as tailoring, hairdressing, baking, and computer training in Iganga Municipality. This support forms part of…
Stanbic Bank Tips Business Owners On Best Customer-Centric Practices Ahead of Economic Insights Symposium
With just one day left to the Stanbic Bank Economic Insights Symposium slated for March 11, 2025, experts at the Bank have unveiled game-changing customer care practices for all business owners in Uganda. This year’s symposium, themed ‘Globalisation Reshaped: Riding the Waves of Economic Shift’, will focus on the changing trends in investment and will feature…
Uganda joins Afreximbank’s Fund for Export-Development in Africa (FEDA) as 21st Member State
Over the past four years, Afreximbank has approved over $813 million in financing for Uganda’s public and private sectors, with a pipeline in exceeding US$ 1 billion in pending approvals The quest to broaden the scope of interventions by the Fund for Export-Development in Africa (FEDA), African Export-Import Bank’s (Afreximbank) development impact investment arm, into…
Ecobank Côte d’Ivoire Launches West Africa’s First Gender Bond to Accelerate Financial Inclusion for Women Entrepreneurs
This five-year bond provides an attractive annual interest rate of 6.5% with a two-year capital repayment grace period Ecobank Côte d’Ivoire, a subsidiary of Ecobank Transnational Incorporated, the leading Pan African Bank, takes a major step forward in its commitment to financial inclusion with the launch of the first Gender Bond in West Africa. This…
The Pineapple Revolution: How Catherine Aturinda is Changing Lives through Value Addition
In Uganda’s agricultural sector, a quiet revolution is underway, driven by the passion and dedication of Catherine Aturinda, a clinical researcher, nutritionist and agricultural enthusiast. As a nutritionist and founder of Nouri-Mix Porridge, Aturinda has always been driven to make a positive impact on people’s lives, and her work in value addition is doing just…
MTN Uganda donates ICT equipment worth UGX 20 million to 40 Days Over 40 Smiles Foundation
In a bold step towards bridging the digital divide, MTN Uganda has provided ICT equipment worth UGX 20 million to the 40 Days Over 40 Smiles Foundation. This donation will boost digital literacy and learning opportunities for underprivileged children, equipping them with the necessary tools to thrive in today’s digital world. The contribution includes computers,…
Kaspersky and Smart Africa forge strategic partnership to bolster cybersecurity in Africa
The partnership focuses on building essential cybersecurity skills via training programs, including those offered by the Kaspersky Academy In a move to enhance digital security on the African continent, Kaspersky has signed a three-year Memorandum of Understanding (MoU) with Smart Africa. This landmark agreement is set to drive collaborative efforts aimed at expanding cybersecurity capabilities…
Lynda Biribonwa Stresses Importance of Sustainable Operations in Uganda’s Oil and Gas Sector at EAPCE
Uganda’s oil and gas sector is at a critical juncture, with significant investments pouring in and production expected to commence soon. However, as emphasized by Ms. Lynda Biribonwa, Chairperson of the Board of Directors, Petroleum Authority of Uganda (PAU), at the 11th East African Petroleum Conference and Exhibition (EAPCE 2025), sustainability must be at the…
MTN Uganda’s 30% Profit Surge and MoMo Spin-Off Pave the Way for a Digital Future
MTN Uganda is not just a technology company; we are building the infrastructure for Uganda’s digital future while ensuring our business contributes meaningfully to communities and the environment MTN Uganda has reported a remarkable 30.1% surge in profit after tax, reaching Shs641.5 billion for FY2024. This performance is a testament to the company’s strategic investments…
KCB Group and Bank of Kigali launch Pan-African Payment and Settlement System (PAPSS), enabling seamless and affordable cross-border payments across Africa
With this launch, businesses and individuals can benefit from faster, more cost-effective, and secure payments without relying on correspondent banks or third-party currencies The Pan-African Payment and Settlement System (PAPSS), launched by African Export-Import Bank (Afreximbank) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, has recorded…
National Renewable Energy Platform: Championing Green Energy with Innovation
The National Renewable Energy Platform (NREP) has launched a nationwide clean cooking initiative to accelerate the transition to green energy and minimize Uganda’s reliance on charcoal and firewood for cooking. Through intense research and innovation, NREP is holding workshops in various districts to showcase clean cooking equipment and teach locals how to use them. The…
Inside Government’s UGX 700Bn Umeme Buyout: Who Wins and Who Loses?
With March 31, 2025 fast approaching, the UGX 700 billion buyout of Umeme Limited is shaping up to be one of Uganda’s biggest corporate transitions in recent history. As the government finalizes plans to take over electricity distribution, stakeholders are closely watching how this deal will unfold. The shift raises key questions: Who stands to…
Uganda Airlines’ London Ambitions: Can the Airline Overcome its Financial Turbulence?
Uganda Airlines, the national carrier, has announced plans to launch flights to Gatwick Airport in London, UK. However, the airline’s financial health raises concerns about its readiness for this ambitious venture. According to a report by the Auditor General, Edward Akol, Uganda Airlines, which is managed by the Uganda National Airlines Company Limited (UNACL), is…
International Monetary Fund (IMF) Staff Completes Visit to Mozambique
For 2025, growth is projected to recover to 3.0 percent as social conditions normalize and economic activity picks up, especially in services An International Monetary Fund (IMF) team, led by Mr. Pablo Lopez Murphy, conducted discussions from February 19 to March 4, 2025, with the Mozambican authorities on policies underpinning the Fifth and Sixth Reviews…
Unlocking Investment in Future Energy: The Role of Petroleum Resources in the Energy Mix for Sustainable Development in East Africa
As the world grapples with the challenges of climate change, energy security, and sustainable development, the role of petroleum resources in the energy mix has become increasingly important. That is the overriding theme at the 11th East African Petroleum Conference and Exhibition (EAPCE’2025) happening in Tanzania, where the Minister for Energy and Mineral Development, Hon.…
TDB Group Secures GCF Accreditation to Unlock Private Capital for Climate Action in East and Southern Africa
The Trade and Development Bank Group (TDB Group) has achieved a significant milestone by securing accreditation from the Green Climate Fund (GCF), positioning itself as a key financial catalyst for climate action in East and Southern Africa. This accreditation paves the way for TDB Group to mobilize private capital and accelerate investments in climate-resilient infrastructure,…
Tribute Portfolio Marks Its Debut in Tanzania’s Northern Safari Circuit with the Opening of Turaco Ngorongoro Valley, a Tribute Portfolio Hotel
The communal spirit of the Maasai is reflected in the hotel’s design, with shared spaces like outdoor dining areas and a central bonfire encouraging interaction and connection Tribute Portfolio – part of Marriott Bonvoy’s growing collection of characterful, independent hotels – welcomes its first safari lodge with the launch of Turaco Ngorongoro Valley, a Tribute…
Min. Nankabirwa Emphasizes Need for Strategic Partnerships in Uganda’s Oil and Gas Sector at EAPCE 2025
Partnerships are vital in the development of Uganda’s oil and gas sector. This was highlighted by the Minister for Energy and Mineral Development, Ruth Nankabirwa, at the 11th East African Petroleum Conference and Exhibition 2025, held at Nyerere International Convention Centre in Dar-es-Salaam, Tanzania. The conference, running on the theme ‘Unlocking Investment in Future Energy:…
Kilembe Mines Reborn: Unlocking Uganda’s Potential for Economic Transformation
The government of Uganda has, through the Ministry of Energy and Mineral Development, resolved to revive the production of copper at Kilembe mines in Kasese District. This signing of the Mineral Production Sharing Agreement with Sarrai Group Limited from India marks a significant milestone in this endeavor. According to Hon. Evelyn Anite, the agreement,…
Stanbic Bank: Uganda’s Top Financial Institution Secures Key Role in Umeme Buyout
As Uganda moves towards full control of its electricity distribution, the government has strategically turned to Stanbic Bank Uganda, the country’s leading financial institution, for a crucial loan of Shs700 billion to finance the buyout of Umeme Limited. This partnership not only reaffirms Stanbic Bank’s position as Uganda’s top financial institution but also highlights its…
Congo and the African Development Bank celebrate the strengthening of their strategic partnership for inclusive and sustainable development
The Bank Group’s mission to Congo explored new funding opportunities for key sectors, including energy, digital infrastructure, and roads Talks held by the African Development Bank Group in the Republic of Congo from 24 – 28 February 2025 marked a significant step forward in strengthening the strategic partnership between the Bank and the Central African…
Umeme’s Uncertain Future: Will the Power Giant Delist After Government Buyout?
For nearly two decades, Umeme Limited has been the face of electricity distribution in Uganda, playing a pivotal role in power access, infrastructure investment, and stock market dominance. However, as the company’s 20-year concession comes to an end on March 31, 2025, the future of one of the Uganda Securities Exchange’s (USE) most traded stocks…
The Ecobank Group expands its gender-financing offer to facilitate access to financing for Africa’s women entrepreneurs
With this expansion, individual entrepreneurs – including those in the formal and informal sectors – can now fully benefit from its enhanced financial and non-financial solutions To bridge the gender financing gap for Africa’s women entrepreneurs, Ecobank, the leading pan-African financial services group, announces significant enhancements to its multi-award-winning gender-financing solution – ‘Ellevate by Ecobank’.…
Stanbic PMI: Improved business conditions resume for Uganda’s private sector
Key findings Operating conditions for Ugandan private sector firms improved in February, following a brief decline at the start of the year sending the headline Stanbic Purchasing Managers’ Index (PMI) up to 52.6 compared to the January reading of 49.5. Christopher Legilisho, Economist at Stanbic Bank said, “The Uganda PMI for February shows a private…
Airtel vs MTN: The Great Digital Payment Duel – Innovation or Just More Plastic?
Uganda’s financial ecosystem is at a turning point. MTN MoMo and Airtel Money, two of the country’s largest mobile money providers—are locked in a high-stakes battle for digital payment dominance. Both companies have recently launched new payment solutions, promising to revolutionize how Ugandans transact locally and globally. But with both telecoms pushing cards linked to…
African Development Bank Commits Shs454Bn to Drive Uganda’s Economic Transformation
The African Development Bank (AfDB) has been instrumental in fueling socio-economic development in Uganda through its strategic partnerships with local financial institutions, such as the Uganda Development Bank (UDB). The UDB has been at the forefront of driving socio-economic transformation in Uganda, and its latest Impact Summary Report for 2024 highlights the significant impact of…
Housing Finance Bank, UECCC Introduce Renewable Energy Loans to Promote Sustainable Development
In a bid to promote sustainable development and reduce reliance on fossil fuels, Housing Finance Bank and the Uganda Energy Credit Capitalisation Company (UECCC) have launched a renewable energy loan program for Small and Medium Enterprises (SMEs) in Uganda. The launch, which was held at the bank’s head office in Kampala on Monday, attracted players…
Finance in Common Summit urges global development finance institutions to harness collective power to address global poverty
African Development Bank leaders champion climate finance and just transition The fifth edition of the Finance in Common Summit (FiCS) concluded on Friday in Cape Town, South Africa, with strong calls for global development finance institutions to work together to address poverty and development challenges. South African Finance Minister Enoch Godongwana led the call. The…
Mumba Takes Charge at Stanbic Bank Uganda
Mumba Kenneth Kalifungwa has officially assumed the role of Chief Executive at Stanbic Bank Uganda, the nation’s largest lender by assets, revenue, and deposits. His appointment was first announced in December of last year. “I am delighted to join Stanbic Bank Uganda. With the support of my colleagues and stakeholders, this new role presents an…
Kalifungwa’s Exceptional Legacy: How He Grew Absa Bank and What Stanbic Bank Uganda Can Expect
After a successful tenure as Chief Executive Officer of Absa Bank, Mumba Kenneth Kalifungwa has bid farewell to the institution, paving the way for his new role as CEO of Stanbic Bank Uganda. Kalifungwa’s leadership at Absa Bank was marked by transformational growth, improved employee and customer experience, and a passion for people that inspired…
UNBS and Trade Mark Africa Join Forces to Boost Uganda’s Agro-Industrial Sector
In a significant move to enhance Uganda’s agricultural sector, the Uganda National Bureau of Standards (UNBS) has signed a USD 1.5 million (over Shs5.5 billion) partnership agreement with Trade Mark Africa. This collaboration aims to promote standardization and export of agro-industrial products, which will ultimately boost the country’s economy. The signing of partnership was officiated…
CEC Joins CEIF 2025 as Gas Turbine Overhaul Nears Completion
The Congo Energy & Investment Forum taking place in Brazzaville next month will feature Gianmaria Pozzoli, Director General of state-owned Centrale Électrique du Congo, as a speaker With maintenance nearing completion on one of the three turbines at the 484 MW gas-fired Centrale Électrique du Congo (CEC) power plant, the Republic of Congo’s state-owned electricity company is…
Avoiding Common Pitfalls: Expert Advice from Stanbic Bank for Budding Entrepreneurs and SMEs
As the backbone of Uganda’s economy, small businesses play a vital role in driving growth and development. However, navigating the complexities of running a small business can be daunting, and many entrepreneurs struggle to avoid common mistakes that can be fatal to their ventures. Planning for Success According to financial management experts at Stanbic Bank,…
Wärtsilä Energy Joins Invest in African Energy (IAE) 2025 as Africa Pursues New Power Capacity
Christopher Ek, Director of Decarbonization Services at Wärtsilä Energy, will speak at the Invest in African Energy Forum in Paris, as the company plays a key role in Africa’s energy transition and strengthening power supplies Christoffer Ek, Director for Decarbonization Services at Wärtsilä Energy, will join the Invest in African Energy (IAE) Forum 2025 in…
Melkamu Abebe: A Success Story at Coca-Cola Beverages Uganda, Set to Drive Growth in Ethiopia
After five years of exceptional leadership, Melkamu Abebe is bidding farewell to Coca-Cola Beverages Africa, Uganda, leaving behind a legacy of remarkable growth and success. During his tenure as Managing Director, the company experienced unprecedented expansion, with sales revenue growing by 25% and market share increasing by 15%. The company also achieved a remarkable 95%…
Stanbic Bank Lights up Okere City School Girls with 220 Solar powered Bags.
Okere City in Otuke District, North Eastern Uganda, is home to several hundred young girls and boys who face a major challenge that hinders their educational aspirations. Ageno Rwot Flavia, a 13-year-old primary six pupil at Okere Community School, has ambitions to become a pilot, but studying is difficult when you are reliant on smoky…
Revolutionizing Business Operations: Diamond Trust Bank Endorses MTN MOMO Virtual Card
In a groundbreaking move, Diamond Trust Bank (DTB) has announced a strategic partnership with MTN Uganda, endorsing the newly launched MTN MOMO Virtual Card as a game-changer in business operations in Uganda. This innovative partnership is set to transform the way businesses and individuals conduct financial transactions in the country. Enhancing Financial Inclusion and Payment…
Unlocking SME Potential: How Digital Payments Are Transforming Business in Africa
Small and Medium Enterprises (SMEs) form the backbone of Africa’s economy, driving employment, innovation, and economic transformation. However, their growth is often hindered by financial constraints, limited access to markets, and operational inefficiencies. The latest Mastercard SME Confidence Index 2025 provides valuable insights into how digital transformation, specifically the adoption of digital payments, is reshaping…
Uganda Airlines and Absa Bank Join Forces to Empower the Girl Child and Boost Business Ties
In a groundbreaking partnership, Uganda Airlines and Absa Bank have teamed up to support the education and empowerment of the girl child in Uganda. The collaboration is centered around the 3rd Absa KH3-7 Hills Run, scheduled to take place on March 16th, 2025. Shared Vision for Girls’ Education The Absa KH3-7 Hills Run, which debuted…
Unveiling the East African Crude Oil Pipeline’s Commercial Structure
The Petroleum Authority of Uganda (PAU) has revealed the detailed commercial structure of the East African Crude Oil Pipeline (EACOP), a joint project between Uganda and Tanzania. This breakdown aims to provide transparency and clarity for Ugandans, investors, and stakeholders in the oil and gas sector. Ownership Structure According to the PAU, the EACOP is…
Dr. Clare Mukankusi: The Ugandan Scientist Transforming Bean Farming in the Face of Climate Change
Ugandan farmers have long struggled with the adverse effects of climate change, which have severely impacted agricultural productivity. However, Dr. Clare Mukankusi, a renowned researcher in improved seeds, is breaking new ground by breeding climate-resilient bean varieties. Her innovative work is transforming the lives of smallholder farmers, particularly women, who rely heavily on bean farming…
AfDB signs $45 million grant agreement with Chad for asphalting of the Kyabé-Mayo road section
The agreement paves the way for support from the Islamic Development Bank to finance the second section of the 205-kilometer Mayo-Singako-Am Timan at an estimated cost of $275.5 million The African Development Bank and the government of Chad have signed a grant agreement worth $44.9 million to finance the asphalting of the 49.5-kilometre Kyabé-Mayo section…
Afreximbank and Kenyan government ink milestone agreements to promote industralisation
Afreximbank will finance the development and operationalisation of industrial parks (IPs) and special economic zones (SEZs) to bolster the country’s industrialisation and export manufacturing In a groundbreaking move that will redefine Kenya’s industrial landscape, Afreximbank and the Kenyan government have inked a historic agreement to turbocharge the country’s industrialization. This multi-billion-dollar deal promises to transform…
Combating Drought in Uganda: Sustainable Agriculture Practices for a Resilient Future
As Ugandan farmers battle prolonged drought and delayed wet seasons, experts emphasize that sustainable agriculture is the only lasting solution to climate change. Uganda, like many African countries, is increasingly experiencing drought due to climate change, leading to devastating effects on agriculture, including crop failures, reduced yields, animal deaths, and food insecurity. However, there are…
African Leaders Unite to Mobilize African Investment and Financing for Implementing Agenda 2063
Discussions centered on innovative strategies for mobilizing African capital, strengthening financial institutions, and leveraging the role of African Multilateral Financial Institutions (AMFIs) in financing critical development sectors On the sidelines of the 38th Ordinary Session of the Assembly of the African Union Summit in Addis Ababa, Ethiopia, African Heads of State, Government and Business Leaders convened…
Petroleum Authority of Uganda Outlines Country’s Oil & Gas Revenue Streams
Uganda is poised to undergo a significant economic boost with the impending oil production, courtesy of revenues from the Oil and Gas sector, according to the Petroleum Authority of Uganda (PAU), which is headed by Mr. Ernest Rubondo. The government’s revenue streams will include royalties, profit oil, state participation, and taxes, all of which are…
Stanbic Economic Insights Forum: Unlocking Investment Opportunities in a Reshaped Global Economy
The Stanbic Bank Economic Insights Forum, a premier event for business leaders, investors, and policymakers, is set to take place on Tuesday, March 11, 2025, in Kampala. This year’s forum will be themed “Globalisation Reshaped-Riding the Waves of Economic Shifts,” and will bring together experts from various sectors to discuss the changing investment trends and…
EIB backs AFC $750 Million Climate Resilient Infrastructure Fund
This landmark initiative will accelerate climate adaptation and sustainable infrastructure across Africa The European Investment Bank (EIB) has committed to join Africa Finance Corporation (AFC) in financing a $750 million Infrastructure Climate Resilient Fund (ICRF). This landmark initiative will accelerate climate adaptation and sustainable infrastructure across Africa. As part of this commitment, the EIB today…
Amatheon Agri Reinforces Financial Position to Fuel Growth and Drive Sustainable Agricultural Development in Uganda
Amatheon Agri Uganda Ltd. (AAU), a subsidiary of the Euronext-listed Amatheon Agri Holding N.V., has successfully restructured its EUR 20,000,000 convertible bonds and converted EUR 18.66 million in shareholder loans into equity, signaling a robust move to enhance its financial strength and support its long-term agricultural vision in Uganda and beyond. A Vision for Sustainable…
MTN MoMo’s New Debit Card: A Game-Changer or Just Another Card in Your Wallet?
A Major Move in Uganda’s Fintech Space MTN Group Fintech has announced a strategic partnership with Network International as its official payment processor and issuing partner. This collaboration marks a significant step in expanding digital financial inclusion across Africa, particularly in key markets such as Uganda, Rwanda, Côte d’Ivoire, and Nigeria. With MTN Rwanda already…
Diageo Announces Leadership Changes: What This Means for the Company’s Performance
Diageo, a global leader in the beverage industry, has announced significant changes to its leadership team. Hina Nagarajan, the current Managing Director and CEO of USL, will take on the role of President of Diageo’s Africa business, while Dayalan Nayager, the current President of Diageo Africa, will become President of Diageo Europe. These changes are…
Record Dividend Shake-Up: Airtel Uganda Redefines the Telecom Landscape
Airtel Uganda’s recent announcement of a record-breaking interim dividend of Shs100 billion for the quarter ending December 31, 2024, has set new benchmarks for shareholder returns while sending ripples across Uganda’s competitive telecom market. Airtel Uganda, which went public in late 2023, declared a dividend of Shs2.5 per share for the quarter and a total…
Entrepreneurship Tips: Expert Reveals Why a Solid Financial Foundation is Key to Unlocking Business Success
In today’s fast-paced business landscape, having a solid financial foundation is crucial for achieving long-term success. According to Lilian Katiso, Managing Director of Zaddock Associates, a well-planned financial strategy serves as the backbone of any business, enabling entrepreneurs to make informed decisions, navigate challenges, and capitalize on opportunities. Here are some tips that Katiso has…
Eco Atlantic CEO to Address Invest in African Energy Forum Amid Orange Basin Expansion
Gil Holzman, President & CEO, Eco Atlantic Oil & Gas, will speak at the Invest in African Energy Forum 2025 in Paris, following the company’s recent expansion in the Orange Basin and strategic approach to low-carbon exploration in Africa Gil Holzman, President & CEO of Eco Atlantic Oil & Gas, will be a featured speaker…
Uganda Breweries Limited Leads Charge in Environmental Sustainability, Reduces Carbon Emission by 92%
In a bold move to mitigate the devastating effects of climate change, Uganda Breweries Limited (UBL) has demonstrated its unwavering commitment to environmental sustainability. Through innovative energy solutions and reforestation initiatives, UBL has significantly reduced its carbon footprint, setting a shining example for other companies to follow. Reforestation Efforts: A Step Towards a Greener Future…
Dr. Soraya M. Hakuziyaremye: The Transformational Leader to Steer National Bank of Rwanda to New Heights
In a historic move, President Paul Kagame has appointed Dr. Soraya M. Hakuziyaremye as the first female governor of the National Bank of Rwanda (BNR), effective February 25, 2025. This appointment is a testament to Dr. Hakuziyaremye’s exceptional leadership skills, wealth of experience, and commitment to transforming the financial landscape of Rwanda. “Humbled and immensely…
Tanzania’s Tourism Sector to Get a Boost from EACOP’s Wildlife Conservation Efforts
In a significant milestone for conservation efforts in Tanzania, EACOP Limited has signed a Memorandum of Understanding (MoU) with the Tanzania Wildlife Authority (TAWA) to protect the country’s wildlife in project-affected areas. This agreement is expected to have a positive impact on Tanzania’s tourism sector, which is a significant contributor to the country’s economy. The…
African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises (SMMEs) and Boost Trade
The social bond investment promotes inclusive economic development, particularly for SMMEs with a turnover below R300 million and loan sizes under R40 million The African Development Bank Group and Standard Bank Group (SBG) on Monday signed a landmark financial agreement to enhance funding for small, medium, and micro enterprises (SMMEs) and expand trade across Africa.…
Oyster Nut Oil: The ‘Seeds of Gold’ That Can Fight Poverty and Boost Economic Growth in Uganda
In a country where poverty and unemployment remain significant challenges, innovative entrepreneurs like Angella Babirye are leading the charge in unlocking the economic potential of Uganda’s natural resources. Babirye, the proprietor of Lamalo Essentials, an agroecological business enterprise that empowers over 200 farmers and produces sustainable products like organic oils, skincare, and fertilizers, has discovered…
Marriott International Expands Luxury Safari Portfolio in Kenya with a Dual Signing of The Ritz-Carlton and JW Marriott Safari Camps
The planned projects will mark the debut of The Ritz-Carlton in the luxury safari market and the opening of the second JW Marriott safari camp in Kenya Marriott International, Inc. today unveiled plans to open two luxury tented safari camps in Kenya, following the signings of The Ritz-Carlton, Masai Mara Safari Camp and JW Marriott…
Crude Oil Pipeline Poses No Imminent Danger To Ugandans: -Petroleum Authority of Uganda
The Petroleum Authority of Uganda (PAU), under the leadership of Mr. Ernest Rubondo, has moved to calm concerns about the potential dangers of the East African Crude Oil Pipeline (EACOP) to Uganda’s and Tanzania’s ecological systems. According to PAU, while major infrastructure projects like EACOP do pose significant risks to people, communities, and the environment,…
Meet Aidah Nkwanzi: The Iron Lady Taking Britam Life Assurance to New Heights
In a move set to shake up the insurance industry in Uganda, Aidah Nkwanzi has taken the reins as the new Chief Executive Officer of Britam Life Assurance. A seasoned insurance expert with over 18 years of experience, Nkwanzi is poised to drive business growth and deliver exceptional results for the leading insurance company. Proven…
Who will win 10th Season of Stanbic National Schools Championship?
Applications are open for schools to compete in the 10th season of the Stanbic National Schools championship (NSC) and the stakes are high on who will win the youth entrepreneurship gong as it marks a decade since its inception. Last year, participating students from St. Joseph’s High School, Namagunga walked away with a brand-new solar…
Uganda’s Oil and Gas Sector to Receive Boost from EACOP Limited and Tanzania Govt’s Memorandum of Understanding
A recent Memorandum of Understanding (MoU) signed between EACOP Limited and the Government of Tanzania is set to bolster the oil and gas sector in Uganda. The agreement, facilitated through the Ministry of Home Affairs, outlines project security commitments in Tanzania, ensuring a robust security approach that adheres to international human rights standards and Tanzanian…
Samaila Zubairu of Africa Finance Corporation Succeeds Prof. Benedict Oramah of Afreximbank to Lead the Alliance of African Multilateral Financial Institutions
As Chair, Zubairu will drive collaborative growth by strengthening partnerships among member institutions, African governments, and global agencies to build a robust financial architecture The Alliance of African Multilateral Financial Institutions (AAMFI), also known as the Africa Club, has announced the appointment of Samaila Zubairu as its new Chairperson. Mr. Zubairu, President and CEO of the Africa…
Charles Peter Mayiga: The Modern Custodian of Buganda’s Economic and Cultural Heritage
A Leader Bridging Tradition and Economic Transformation For over a decade, Charles Peter Mayiga, the Katikkiro (Prime Minister) of Buganda, has redefined what it means to be a custodian of both culture and commerce. Appointed by Kabaka Ronald Muwenda Mutebi II in May 2013, Mayiga has played a pivotal role in preserving Buganda’s rich traditions…
African Development Bank Approves USD 153M for Uganda-South Sudan Power Project
In a move aimed at boosting economic development in South Sudan, the African Development Fund (ADF) has approved a grant of USD 153.66 million (over Shs562 billion) for the Uganda-South Sudan power interconnection project. The project, which is part of the East African Power Pool network, aims to integrate South Sudan into the regional power…
British American Tobacco Uganda Announces Key Board Changes
British American Tobacco Uganda Limited (BATU) has announced significant changes to its Board of Directors, effective 1 March 2025. The changes include the appointment of a new Managing Director, the addition of a Non-Executive Director, and the resignation of an outgoing Non-Executive Director. These developments reflect the company’s commitment to strengthening its leadership team and…
Intercropping: A Climate-Resilient Solution for Ugandan Farmers
Uganda is one of the countries that are most vulnerable to climate change in Africa. Rising temperatures, changing rainfall patterns, and increased frequency of extreme weather events are all taking a toll on the country’s agricultural sector. The worst-affected areas include the eastern and northeastern regions, where droughts and floods have become more frequent, devastating…
PAU Commits to Improving Livelihoods of Project-Affected Ugandans Through Agriculture
The Petroleum Authority of Uganda (PAU) has reaffirmed its commitment to improving the livelihoods of project-affected Ugandans through agriculture. During a quarterly engagement meeting with Non-Governmental Organizations (NGOs) and private sector players in Kampala, the PAU shared valuable insights on the country’s oil and gas sector and highlighted the progress made to date. Representing the…
Afreximbank Announces $1 Billion Oil Service Financing Facility for Guyana at Energy Conference
Afreximbank Advocates for Increased Local Participation in Guyana’s Oil Value Chain In a landmark announcement at the Guyana Energy Conference and Supply Chain Expo, Prof. Benedict Oramah, President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), revealed plans to establish a $1 billion oil service financing facility in Guyana. The…
Boosting Sales Ahead of Easter Holidays: Expert Tips from Stanbic Bank
With the Easter holiday season just around the corner, businesses in Uganda are gearing up to capitalize on the increased consumer spending. Financial experts at Stanbic Bank have shared valuable insights on how entrepreneurs can maximize sales, profits, and customer relationships during this period. As a bank that is committed to supporting the growth and…
Tanzanian Sunflowers Bloom into New Opportunities: A Local Transformation
The new Sunflower Processing Unit in the eastern district of Uvinza will give a business boost to 21,000 people A new sunflower processing unit in Tanzania’s eastern Uvinza district is transforming the agricultural landscape, boosting local businesses, and providing a more accessible and affordable way for farmers to process their sunflower harvests. This innovative development…
UEGCL Aligns with NDP Goals, Champions Sustainable Industrialisation for Inclusive Growth & Wealth Creation
The Uganda Electricity Generation Company Limited (UEGCL) has reaffirmed its commitment to supporting the country’s development agenda, as outlined in the National Development Plan (NDP) III (2020/21-2024/25) and the upcoming NDP IV (2025-2030). In a stakeholders’ workshop held at Skyz Hotel in Kampala, UEGCL’s Chief Executive Officer, Eng. Harrison Mutikanga, unveiled the company’s strategic plan…
Am An Agripreneur: Why Castor Oil is the Future of Uganda’s Economy
Uganda’s economy is poised for a significant boost, thanks to the vast potential of castor oil production. With its high market demand, profitability, and versatility, castor oil is an attractive crop for Ugandan farmers to embrace. In this article, we will explore the benefits of castor oil production and how the government can support this…
African Development Bank Partners with Interpol to Combat Financial Crime and Strengthen Anti-Corruption Efforts in Africa
According to Interpol’s 2024 Global Financial Fraud Assessment, business email compromise, romance baiting, phishing, and other online frauds pose growing threats to Africa’s digitalized economy The African Development Bank Group has taken a significant step forward in its fight against corruption and financial crime by signing a Letter of Intent with the International Criminal Police…
Impact Of Tax Exemptions on Uganda’s Economy: The Case of Tycoon Donati Kananura
The recent rejection by the Ugandan parliament of a request to exempt businessman Donati Kananura from paying taxes worth Shs2,696,768,814 on grounds that he is battling diabetes and prostate enlargement has sparked a debate on the pros and cons of tax exemptions. In this article, we will delve into the advantages and disadvantages of tax…
Saudi Arabia Expands Energy Ties with Africa: A Look at Key Investments, Partnerships
Following Saudi Arabia’s latest energy efficiency cooperation agreement with Egypt, the African Energy Week: Invest in African Energies 2025 conference will provide a vital platform to accelerate partnerships and secure new deals between Saudi Arabia and African countries Earlier this week, Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi and Saudi Arabia’s Minister of…
Why the BPO Campaign Is a Game-changer In Uganda’s Business Environment
The launch of the Uganda Business Process Outsourcing (BPO) campaign is poised to revolutionize the business environment in Uganda. While launching the campaign at Mestil Hotel in Kampala on Thursday, Chris Baryomunsi, the Minister for ICT, who was flanked by Dr. Aminah Zawedde, the Permanent Secretary Ministry of ICT, revealed that the campaign aims to…
Local companies get tax waivers following Parliamentary approval
The exemptions, granted under Section 40(1) of the Tax Procedures Code Act, 2014 were based on financial hardships and the strategic importance of the entities to economic development Parliament has approved tax waivers of over Shs9.5 billion for selected local investors for the financial year 2024/2025. This followed the adoption of the report of the Committee…
Why Piston Medical Is a Beacon of Hope for Uganda’s Healthcare System
The commissioning of Piston Medical, a state-of-the-art pharmaceutical factory located in Namanve Industrial Park, marks a significant milestone for Uganda’s healthcare and industrial sectors. With the capacity to produce 16 life-saving medical commodities, Piston Medical is poised to revolutionize the country’s healthcare landscape. Uganda’s healthcare system faces numerous challenges, including a shortage of healthcare workers,…
Brazil-Africa Energy Ties Strengthen as G20 Drives Regional Development
As a key G20 member, Brazil is deepening its energy cooperation with African nations through strategic investments, partnerships and knowledge exchange, with this year’s African Energy Week: Invest in African Energies conference paving the way for greater collaboration As a prominent member of the G20, Brazil has been actively fostering energy cooperation with African nations,…
Call To Action: Gov’t Proposes Cost-sharing For Foot And Mouth Disease Herbicides
Uganda’s livestock industry has been plagued by the recurring outbreaks of Foot and Mouth Disease (FMD), resulting in significant economic losses for farmers and the government. To combat this, the government has proposed a cost-sharing initiative for FMD vaccination in the Lango and Teso sub-regions, where farmers will contribute USD2 (around Shs7400) per dose of…
Creating Value: Ugandan Companies Win Contracts Worth Shs748Bn Oil & Gas Sector
The discovery of oil and gas in Uganda has opened up new opportunities for economic growth and development, with local companies winning contracts worth over Shs748 billion in the last quarter. As the country prepares to start commercial oil production, the Petroleum Authority of Uganda (PAU) is encouraging local companies to participate in the oil…
The Rise of Electronic Fraud in Uganda’s Banking Sector: A Growing Concern
The advent of electronic banking has revolutionized the way people conduct financial transactions. However, according to business analysts at the Publicisteastafrica.com this convenience has also introduced new risks, particularly in the form of electronic fraud. In Uganda, several banks are grappling with the issue of rampant electronic fraud, which has resulted in significant financial losses…
Airtel Uganda Reports Strong Financial Performance for the Year Ended 31st December 2024
Airtel Uganda Limited has announced its financial results for the year ended 31st December 2024, showcasing a resilient performance driven by sustained growth in its customer base, data services, and strategic investments in network expansion. The company reported an 11.4% increase in revenue, reaching Ushs 1,986.5 billion, with a notable 25.3% growth in data revenue,…
Shs2.2Tn Isimba Dam Saga: Energy Ministry In Spotlight As Parliament Orders Arrest Of Chinese Contractors
The Isimba Dam, a Shs2.2 trillion (USD 570 million) project commissioned by President Yoweri Kaguta Museveni in 2019, is on the verge of collapse due to severe damage. This dire situation has prompted Members of Parliament to call for the arrest of four Chinese contractors, including Xie Hui and Shawn Zhang, employees of China International…
Centenary Bank to Host the 17th Annual General Meeting of the Global Alliance for Banking on Values: A Landmark Event for Ethical Finance
In a significant milestone for ethical finance, Centenary Bank, Uganda’s leading microfinance institution, has announced that it will host the 17th Annual General Meeting (AGM) of the Global Alliance for Banking on Values (GABV). The event, scheduled to take place from March 10th to 14th, 2025, at the prestigious Speke Resort Munyonyo in Kampala, will…
Uganda Breweries Limited Leverages Technology To Combat Climate Change
As the world grapples with the devastating effects of climate change, Uganda Breweries Limited (UBL) is taking proactive steps to mitigate its impact on local communities. Through its Water for Life Programme, UBL, through harnessing advanced technology, is championing water replenishment and conservation efforts, demonstrating its commitment to environmental sustainability. Why Water Replenishment Matters Access…
UNOC Boss Nabbanja Courts Investors At Sub-Saharan Africa International Petroleum Conference In Nigeria
Uganda’s oil and gas sector is ripe for investment, with several projects underway that promise significant returns. The Uganda National Oil Company (UNOC) has been actively courting investors, showcasing the country’s favorable business environment and highlighting the laws, regulations, and policies that facilitate investment, with the latest campaign being at the Sub Saharan Africa International…
African ministers hold strategic dialogue on visa-free movement to propel regional integration agenda for Africa’s Transformation
The presentation reported that 39 African countries have improved their scores since 2016, indicating that visa openness across Africa is at its highest level since the inception of the index On the sidelines of the 38th African Union Summit, African leaders discussed obstacles to the continent’s economic integration, underscoring visa-free movement to reduce illegal migration…
Value Addition For Poultry Farmers: Dr. Musoke Reveals Why Selling Raw Eggs Is a Bad Deal
As a poultry farmer, selling raw eggs may seem like the easiest and most straightforward way to earn a profit. However, experts reveal that adding value to eggs can double, or even triple, earnings. According to Dr. Hillary Emma Musoke, the Senior Presidential Advisor on Agribusiness, selling raw eggs is a bad deal for farmers.…
Nike and SKIMS Launch New Brand, NikeSKIMS, Designed to Sculpt; Engineered to Perform
Nike and SKIMS Launch New Brand, NikeSKIMS, Designed to Sculpt; Engineered to Perform Nike, Inc. (NYSE: NKE) and SKIMS are teaming up to disrupt the global fitness and activewear industry with the launch of NikeSKIMS, a new brand that will deliver industry leading innovation. The long-term partnership will introduce an extensive product line that invites more athletes…
UTB Announces Crackdown On Substandard Hotels, Lodges In Bid To Ensure Safety For Tourists
The Uganda Tourism Board‘s (UTB) decision to crack down on substandard hotels, lodges, and other accommodation facilities is a bold move to boost Uganda’s tourism sector. Tourism is a significant contributor to Uganda’s economy. According to the Uganda Bureau of Statistics (UBOS), tourism earned Uganda UGX 5.8 trillion (approximately USD 1.6 billion) in 2020, accounting…
Celebrating Leadership: Meet Ms. Nwanne Vwede-Obahor, UNDP Resident Representative for Uganda
Today, Publicist East Africa proudly profiles Ms. Nwanne Vwede-Obahor, a true inspiration to women across the globe. As the UNDP Resident Representative for Uganda, Ms. Vwede-Obahor leads and directs UNDP’s efforts to support Uganda’s national development goals. Her impressive career spans over 20 years, with experience in development, governance, peacebuilding, human rights, and more. …
Gov’t Turns To Stanbic Bank For Shs700Bn Loan To Buyout Umeme
Uganda’s government is seeking a massive loan to finance the buyout of Umeme Limited, the country’s main electricity distributor, as its 20-year concession comes to an end on March 31, 2025. The government is negotiating with Stanbic Bank to secure a loan of at least Shs700 billion, with the biggest percentage of the money for…
China-Africa Energy Investment and Cooperation to be Showcased at Investor Forum in Shanghai
Taking place March 13, 2025, the Invest in African Energies investor forum will explore new opportunities for Chinese companies in Africa The upcoming Invest in African Energies investor forum in Shanghai on March 13, 2025, is set to highlight the growing energy partnership between China and Africa. Hosted by the African Energy Chamber (AEC), the…
Embracing Climatic Change: Housing Finance Bank Injects Shs5Bn In Renewable Energy Projects
Housing Finance Bank (HFB) has strengthened its commitment to promoting the creation and consumption of renewable energy in Uganda, as the country grapples with the devastating effects of climate change. To achieve this goal, the Bank has partnered with the Uganda Energy Credit Capitalisation Company (UECCC) to accelerate the adoption of renewable energy solutions in…
What President Museveni’s New Advisor On Agribusiness Dr. Musoke Brings To The Table
Dr. Hillary Emmanuel Musoke, the newly appointed Senior Presidential Advisor on Agribusiness, is poised to revolutionize Uganda’s agricultural sector. With his wealth of experience, Dr. Musoke is expected to tackle several key issues, including: Embracing Mechanised Farming and AgriTech: Dr. Musoke’s expertise in mechanized farming and technology will modernize Uganda’s agricultural sector, increasing efficiency, productivity,…
Combined Forces: URA Teams Up With KRA In Fight Against Cross-border Smuggling
The Uganda Revenue Authority (URA) has joined forces with Kenya’s tax body, Kenya Revenue Authority (KRA), to combat cross-border smuggling. This strategic partnership aims to curb illicit trade and tax evasion, promoting economic growth and development in both countries. URA’s Commissioner Tax Investigations, Kugonza Kateeba Denis, and KRA’s Commissioner Investigations and Enforcement, David Yego, signed…
A Decade of Transformation: Adesina’s Farewell Address Highlights AfDB’s Impact on Africa
Dr. Akinwumi A. Adesina, President of the African Development Bank Group (AfDB), delivered a powerful farewell address to African Heads of State and Government at the 38th African Union Summit, marking the culmination of a decade of impactful leadership. The summit, held in Addis Ababa from February 15-16, 2025, served as a platform to celebrate…
PAU Championing Job Creation Through Skilling Youths To Boost Economic Development
The Petroleum Authority of Uganda (PAU) is playing a vital role in championing job creation and boosting economic development in the country. Under the leadership of Executive Director Ernest Rubondo, PAU has made significant strides in building a skilled local workforce for the oil and gas industry. Job Creation Initiatives PAU currently employs 15,169 employees,…
Imperatus Energy CEO Outlines Downstream Strategy for Congo’s Expanding Energy Sector
In an interview with Energy Capital & Power, Imperatus Energy CEO Oumar Semega outlined strategies for supply chains and infrastructure development in the Republic of Congo As the Republic of Congo sets its sights on a significant increase in crude oil production, reaching a target of 500,000 barrels per day, the development of a robust…
Uganda Set to Host Landmark 22nd AfWASA International Congress & Exhibition in 2025
Uganda is poised to take center stage in global water and sanitation discussions as it prepares to host the 22nd African Water and Sanitation Association (AfWASA) International Congress & Exhibition from February 16–20, 2025. This prestigious event, themed “Water and Sanitation for All: A Secure Future for Africa,” will bring together over 1,000 delegates from…
African leaders appoint a new African Leaders Malaria Alliance (ALMA) Chair President Advocate Duma Gideon Boko of Botswana; taking over from HE President Umaro Sissoco Embaló of Guinea Bissau; and commit to Change the Story on malaria and demand a big push to achieve malaria elimination including a successful Global Fund replenishment
The Global Fund is the largest source of funding for malaria, providing 62% of all international financing for malaria programmes Against the backdrop of the 2024 Africa Malaria Progress Report, which reveals stagnating progress and mounting threats to malaria elimination across the continent, Heads of State and Government at the African Union Summit committed to…
Unlocking Economic Growth: Uganda’s Future Bright As Oil & Gas Sector Takes Shape With EACOP Construction
Uganda’s oil and gas sector is on the cusp of a transformative era, with steady progress toward achieving the country’s national content agenda by 2040. The Petroleum Authority of Uganda, headed by Ernest Rubondo as Executive Director, reports that significant milestones have been reached in contracting, enterprise development, and supplier development, with the construction of…
South Africa’s New National Petroleum Company Signals Shift in African Energy Governance
The upcoming launch of the South African National Petroleum Company reflects a broader trend across Africa, where nations are restructuring their state-owned energy enterprises to attract investment, improve efficiency and enhance energy security The upcoming launch of the South African National Petroleum Company (SANPC) on April 1, 2025 marks a significant step in South Africa’s…
BoU Shs60Bn Heist: Navigating the Complex Landscape of Risk and Cybersecurity in Uganda’s Financial Sector
Uganda’s financial sector is grappling with a myriad of challenges, including rampant fraud, cybersecurity threats, health crises, and geopolitical instability. The latest case of fraud in the banking sector is the theft of over Shs60Bn from Bank of Uganda, which has since led to the arrest of several senior officials from the Ministry of Finance,…
Leading the Charge: How Corporate Responsibility is shaping the Future of Cancer Care in Uganda
Cancer has swiftly become one of the leading causes of death in Uganda, with over 35,000 new cases reported annually. In a country where healthcare systems are stretched thin and treatment options are often out of reach for the average citizen, the fight against cancer can feel like an uphill battle. But amidst these challenges,…
Unlocking Business Growth: Why You Shouldn’t Miss the Stanbic Economic Insights Symposium
As the business landscape continues to evolve, staying ahead of the curve is crucial for success. The Stanbic Economic Insights Symposium, scheduled for March 11, 2025, at Kampala Serena Hotel, offers a unique opportunity for business operators to gain valuable insights, network with peers, and stay informed about the latest trends shaping the economy. Platform…
Dr. Michael Atingi-Ego: Steering Uganda’s Monetary Policy into a New Era
Following his recent confirmation as the Governor of the Bank of Uganda, Dr. Michael Atingi-Ego steps into one of the most influential economic roles in the country at a time when Uganda’s monetary policy is under heightened scrutiny. His appointment signals continuity, stability, and a renewed focus on economic resilience, financial sector reforms, and inflation…
Airtel Uganda’s Leadership Shakeup: Post-IPO Departures and a Strategic Competitor Crossover
Airtel Uganda, fresh off its landmark IPO in 2023, is undergoing a significant leadership overhaul that has sparked both intrigue and concern across the telecom sector. In a bold move, the company has seen the exit of key figures, including Managing Director Manoj Murali, Chief Commercial Officer Amit Kapur, Company Secretary Dennis Kakonge, and Chief…
Africa Finance Corporation and the Export-Import Bank of China (CEXIM) Strengthen Partnership to Drive Trade and Infrastructure Growth Across Africa
To date, AFC has secured a total of US$700 million in financing from CEXIM, including a US$300 million facility in 2018 and another US$400 million loan in 2023 Africa Finance Corporation (AFC), Africa’s leading infrastructure solutions provider, has signed a Memorandum of Understanding (MoU) with the Export-Import Bank of China (CEXIM) to deepen collaboration in…
Over 67 million screenings – AstraZeneca’s ‘Healthy Heart Africa’ celebrates 10 years of transforming Noncommunicable Disease (NCD) care
HHA aims to improve access to timely diagnosis and treatment, reducing the burden of this disease across communities AstraZeneca’s flagship health equity programme – Healthy Heart Africa (HHA), marks its 10th anniversary, celebrating successfully taking over 67 million blood pressure screenings and a decade of action against non-communicable diseases across Africa. Hypertension is a leading…
Chevron Expands Namibia Presence with Petroleum Exploration License 82 (PEL 82) Farm-in, Signaling Growing International Oil Company (IOC) Interest in African Energy
With Chevron’s latest farm-in offshore Namibia highlighting Africa’s investment appeal, African Energy Week: Invest in African Energies 2025 will explore strategies for structuring attractive PSCs and securing high-impact farm-in agreements in Africa’s oil and gas sector Africa’s oil and gas sector continues to draw interest from international oil companies (IOCs) through well-structured Production Sharing Contracts…
ExxonMobil Showcases $20M Local Content Investment During African Energy Chamber’s (AEC) Mozambique Roundtable
International Oil Companies highlighted Mozambique as an attractive investment destination during the African Energy Chamber’s Invest in African Energies: Mozambique Roundtable in Maputo on Thursday Global energy major, ExxonMobil has invested over $20 million in Mozambique as part of its local content development strategy since 2017 and plans to direct more investments in the local…
Medical Breakthrough in Uganda: Mesenchymal Stem Cell Therapy Now Available At JCRC
Uganda has reached a remarkable milestone in healthcare with the introduction of Mesenchymal Stem Cell Therapy (MSCT). Prof. Elly Karuhanga, a renowned lawyer and founding partner at Kampala Associated Advocates, became the first Ugandan to undergo this groundbreaking treatment at the Joint Clinical Research Centre (JCRC). The procedure was performed in the presence of top…
Congo’s Upcoming Gas Code and Investment Opportunities Take Center Stage Ahead of CEIF 2025
As the Republic of Congo prepares to host the Congo Energy & Investment Forum (CEIF) 2025 from March 24-26, 2025, in Brazzaville, the spotlight is on the country’s upcoming Gas Code and its potential to transform the nation’s energy sector. In an exclusive interview with Energy Capital & Power (ECP), Yves Ollivier, Managing Director, and Daoudou Mohammad, Director of Tax & Legal at CLG…
Africa Boasts Highest ROI –UBA Group Chief Elumelu Tells World Government Summit In Dubai
The Chairman, United Bank of Africa Group, Tony O. Elumelu, has revealed that of all continents, Africa has the highest Return On Investment (ROI). Elumelu, who was speaking at the World Government Summit in Dubai, noted that Africa is the smartest investment destination today, calling upon all investors to focus on the continent. “With 60%…
Uganda’s Oil Sector Takeoff: UNOC Woos Investors for Kasuruban Block
The Uganda National Oil Company (UNOC) is actively courting investors to partner in the exploration and development of the Kasuruban oil and gas block. Philips Obita, UNOC’s General Manager-Upstream, made the call at the Sub Saharan Africa International Petroleum Exhibition & Conference in Lagos, Nigeria. Located in Uganda’s oil-rich Albertine Graben, the Kasuruban block spans…
Africa’s Role in Global Liquefied Natural Gas (LNG) Markets: Potential and Risks (By NJ Ayuk)
The State of African Energy 2025 Outlook provides an overview of the dynamics of Africa’s involvement in the global LNG sector The global energy marketplace is shifting toward the acceptance of natural gas as a pivotal component in the transition to cleaner energy solutions, and rightly so. Africa, with its vast untapped gas reserves, has…
Roke Telkom and THAUT Launch Emotional Intelligence Platform to Transform Organizational Engagement in Uganda
In a groundbreaking move aimed at revolutionizing workplace dynamics, Roke Telkom, Uganda’s homegrown telecommunications provider, has partnered with THAUT, a cloud-based emotional intelligence (EI) platform, to launch an innovative solution designed to enhance organizational engagement and foster meaningful connections. The partnership, announced on February 13, 2025, in Kampala, marks a significant step forward in leveraging technology to drive…
Protected: UNBS Talks Product Certification As ACN Moves To Unveil Bleep App To Fight Counterfeits
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Namibia International Energy Conference 2025: Driving Namibia’s Rise as a Regional Energy Hub
Namibia is on the cusp of a transformative era in its energy sector, with recent oil and gas discoveries positioning the country as a key player in Africa’s energy landscape. To harness this potential and ensure local industries and communities’ benefit, the African Energy Chamber (AEC) is proud to support the 7th Namibia International Energy Conference (NIEC), set…
Congo Energy & Investment Forum 2025: A Platform for Congo’s Energy Ambitions
The Republic of Congo is gearing up to showcase its energy potential and investment opportunities at the inaugural Congo Energy & Investment Forum (CEIF) 2025, scheduled to take place in Brazzaville from March 24-26, 2025. Under the leadership of Bruno Jean-Richard Itoua, Minister of Hydrocarbons, the event aims to position the country as a major player in regional…
Invest In Agritech To Unlock Uganda’s Growth Potential- Min. Kasaija At Uganda-EU Business Insight
Uganda’s agricultural sector is poised for a significant turnaround, thanks to the government’s focus on leveraging Agriculture Technology (Agritech). This was revealed by Matia Kasaija, the Minister of Finance, Planning and Economic Development, who was speaking at the Uganda-EU Business Insights 2025 conference held at Mestil Hotel on Thursday. Kasaija noted that Uganda’s commitment to…
UCC Cracks Down on Pirated Content: TV Business In Uganda Faces Uncertain Future
In a move aimed at protecting intellectual property rights, the Uganda Communications Commission (UCC) has banned the broadcast of pirated movies, soaps, and dramas on local TV stations. This decision is expected to have far-reaching consequences for the television industry in Uganda. This is because many TV stations in Uganda had made it a practice…
EU Reevaluates Aid to Africa Amid Shifting Global Priorities
A recent Bloomberg report dated February 10th has revealed that the European Union is set to review its multibillion euro foreign aid program, aiming to align the allocation of funds more closely with its evolving strategic and geopolitical interests. This reassessment comes at a time when many African nations, including Uganda, rely heavily on EU…
Dr. Zawedde Tasks Airtel Uganda MD Sahu On Leveraging ICT Networks To Create Jobs
The Permanent Secretary of the Ministry for Information Communication and Technology and National Guidance, Dr. Aminah Zawedde, has urged the new Airtel Uganda Managing Director Soumendra Sahu, to leverage ICT networks to create more jobs in the country. Dr. Zawedde made the remarks this week as she welcomed Soumendra Sahu, the MD of Airtel Uganda,…
Safaricom’s Commitment to Inclusivity Earns Telecom Giant Top Recognition
In a significant milestone, Safaricom, Kenya’s leading telecommunications provider, has been awarded the title of Most Inclusive Brand by Kantar, a renowned research firm. This prestigious recognition underscores Safaricom’s dedication to embedding diversity, equity, and inclusion (DE&I) throughout its operations. As a market leader with a significant share of the Kenyan telecom market – approximately…
Reeta Roy Announces Transition from Mastercard Foundation After Transformative Leadership
Reeta Roy, the President and CEO of the Mastercard Foundation, has announced her decision to transition from her role after nearly 18 years of transformative leadership. Roy, who joined the Foundation in 2008, will continue to lead the organization through 2025 until a successor is appointed. Under her guidance, the Mastercard Foundation has grown into…
Future Uncertain For Cocoa Farmers As Uganda Cocoa and Commodities Faces Insolvency
The agricultural sector in Uganda has been dealt a huge blow with the ongoing winding down process of the Uganda Cocoa and Commodities Limited, which is set to be wound up together with Grow More Seeds and Chemicals Limited, over insolvency. The two enterprises are to be wound up following a petition by Wadia Sukaria…
Technology Revolutionizes Business: Uganda Breweries’ Success Story
The rapid advancement of technology is transforming the business landscape, making production, sales, and revenue tracking more efficient than ever. Emmy Hashakimana, Commercial Director at Uganda Breweries Limited (UBL), highlighted the impact of technology on trade in East Africa, using UBL’s business model as a case study, at the recently concluded Kampala-Kigali Expo. According to…
President Museveni, Austrian Delegation Discuss USD500M Investment In Uganda’s Carbon Market
A landmark investment opportunity is on the horizon for Uganda, as President Yoweri Kaguta Museveni recently met with a delegation of investors from Austria’s EcoNetix, a clean energy company. The discussion centered around a potential USD500 million (about Shs 1,839,755,000,000) investment in Uganda’s carbon market, aimed at positioning the country as a leader in the…
Gov’t, Centenary Bank Empower Over 2,073 Women Entrepreneurs Through GROW Project
The Government of Uganda, in partnership with Centenary Bank and the Private Sector Foundation Uganda (PSFU), has launched a groundbreaking initiative to empower women entrepreneurs through the GROW project. This project has already enabled over 2,073 women to access funds and start small-scale enterprises, marking a significant milestone in the fight against poverty. According to…
African Development Bank’s Climate Action Window channels $31m to boost climate resilience in four countries
The Board of Directors of the African Development Bank Group has approved over $31 million in funding under its African Climate Action Window (CAW) to strengthen climate resilience in Sierra Leone, South Sudan, Djibouti, and Madagascar. The Climate Action Window of the Bank Group’s African Development Fund seeks to mobilize $4 billion by 2025 to…
CFAO Motors Ordered to Pay Shs2.08Bn To URA In Tax Dispute: Implications for Businesses
In a landmark ruling, the Tax Appeals Tribunal has ordered CFAO Motors, formerly Toyota Uganda, to pay Shs2.08 billion to the Uganda Revenue Authority (URA) in a Value Added Tax (VAT) dispute. The tribunal’s decision clarifies the application of Value-Added Tax (VAT) on mark-ups for supplies to VAT-exempt customers. It is important however to acknowledge…
Eco-Innovation is to Transforming Businesses for a Sustainable Future, by Michael Jjingo
Let’s reflect about the quote. “When the well is dry. We shall know the worth of water” by Benjamin Franklin. He highlights the value of water and the importance of appreciating it while it is still abundant. We need to innovate ways of saving our environment lest we shall suffer. It suggests that only when…
TDB GROUP AND ANZANA ELECTRIC GROUP ANNOUNCE FINANCIAL CLOSE OF FIRST-OF-ITS-KIND USD 35 MILLION LONG-TERM PROJECT FINANCE FACILITY FOR THE SONGA ENERGY 10.65 MW RUN-OF-RIVER HYDROPOWER PROJECTS IN BURUNDI
TDB Group and Anzana Electric Group (“Anzana”) announce the financial close and first utilization of a portfolio project debt package for two run-of-river hydropower projects in Burundi developed by Songa Energy. This USD 35 million 10.65MW long-term debt financing facility represents a first-of-its-kind transaction for Burundi, a market where only about 10% of the population…
Protected: Anti-Counterfeit Coalition Network Africa Launches Digital Fight Against Fake Products in Uganda
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New Leadership at Bank of Uganda: Dr. Michael Atingi-Ego and Prof. Augustus Nuwagaba Take the Helm
L:R - Dr. Michael Atingi-Ego, Newly Appointed Governor, Bank of Uganda, and Prof. Augustus Nuwagaba, Newly Appointed Deputy Governor, Bank of Uganda. INTERNET PHOTOSIn a significant development for Uganda’s financial sector, President Yoweri Museveni has appointed Dr. Michael Atingi-Ego as the new Governor of the Bank of Uganda (BoU), with Prof. Augustus Nuwagaba stepping into…Centenary Bank Injects Over Shs200Bn In Ugandan Startups, Boosting Economic Growth
Dr. Fabian Kasi, the Managing Director of Centenary Bank, has revealed that the bank has invested over Shs200 billion in Ugandan startups since in the past few years. This significant investment has benefited over 5,000 enterprises, providing them with crucial funding to drive business growth, create jobs, and contribute to national development, according to Dr.…
Uganda’s Coffee Export Boom: Fueling Growth in the Trade Finance Banking Sector
Uganda’s coffee industry has once again proven its power as a major economic engine. In December 2024, the Ministry of Agriculture, Animal Industry, and Fisheries (MAAIF) reported an impressive surge in coffee export revenues, reaching USD 115.02 million—up from USD 108.91 million in November. With 413,221 60-kg bags of coffee exported, this growth solidifies Uganda’s…
MoMo Digital Credit: Unlocking Business Growth and Financial Inclusion in Uganda
In a move set to revolutionize the financial landscape of Uganda, MTN Mobile Money (MoMo) has introduced Digital Credit, an innovative financial service designed to provide individuals and businesses with convenient, secure, and affordable credit facilities. This groundbreaking service is poised to boost business growth, improve financial inclusion, and enhance the overall quality of life…
Capital Markets Authority Tightens Noose On Chief Executives To Protect Shareholders
In a bid to safeguard the interests of shareholders, the Capital Markets Authority (CMA) of Uganda has introduced stringent regulations regarding the appointment or replacement of Chief Executive Officers (CEOs) in companies operating within the country. This move is aimed at maintaining confidence in the safety of Uganda’s capital markets. According to a public statement…
Uganda’s Tourism Leader, Lilly Ajarova, Appointed Senior Presidential Advisor
The Uganda Tourism Board (UTB) announced today that its outgoing Chief Executive Officer, Lilly Ajarova, has been appointed as a Senior Presidential Advisor on Tourism. Ms. Ajarova, a respected figure in the Ugandan tourism industry, has served as UTB’s CEO since 2018. During her tenure, she spearheaded several initiatives that significantly enhanced Uganda’s global tourism…
Nicholas Opiyo Steps Down as Executive Director of Chapter Four Uganda
Nicholas Opiyo, the founding Executive Director of Chapter Four Uganda, a prominent human rights organization, has stepped down from his leadership role after more than a decade. This marks the conclusion of a significant era for the organization, known for its relentless advocacy for human rights, legal reforms, and civil liberties in Uganda. Founded in…
Tourism and Agriculture to Propel Uganda’s GDP to USD 500 Billion by 2040
The Government of Uganda has set an ambitious target of expanding the country’s Gross Domestic Product (GDP) from USD 50 billion in FY 2022/23 to USD 500 billion by 2040. This tenfold increase is expected to be driven by key sectors such as agriculture, tourism, minerals, oil and gas, and science and technology. The announcement…
Mastering the Ugandan Spirit: How Sylvia Mulinge Led MTN Uganda to CEO of the Year Award
Ugandans are known for their resilience, warmth, and entrepreneurial spirit—qualities that define the Pearl of Africa and its people. It is this deep understanding of Uganda’s dynamic and youthful population that has propelled Sylvia Mulinge, CEO of MTN Uganda, to new heights, earning her the “CEO of the Year” award at the prestigious MTN GLG25…
OPINION: BOU Holds Central Bank Rate Steady Amidst Rising Inflationary Pressures
The Bank of Uganda’s Monetary Policy Committee (MPC) decision to maintain the Central Bank Rate (CBR) at 9.75% reflects a delicate balancing act between supporting economic growth and mitigating inflationary risks. While the Ugandan economy continues to exhibit strong growth, driven by industrial activity and government interventions, the rise in inflation, particularly in services, presents…
No Cause for Alarm: Ministry of Agriculture Clarifies Pesticide Use
The Ministry of Agriculture, Animal Industry, and Fisheries (MAAIF) has dismissed concerns raised by certain individuals and Civil Society Organizations (CSOs) regarding the use of specific pesticides in Uganda. In a statement issued on Friday, Permanent Secretary Maj. Gen. David Kasura Kyomukama emphasized that while the ministry prioritizes public health, environmental protection, and sustainable agriculture,…
BK Plc Appoints New Chairman, Eugene Ubalijoro
Bank of Kigali Plc announced the appointment of Eugene Ubalijoro as its new Chairman of the Board of Directors, effective February 5, 2025. Mr. Ubalijoro succeeds Rod Michael Reynolds, who is retiring from the position. The appointment was made by resolution of the Board of Directors of BK Group Plc, the Shareholder of Bank of…
What Musinguzi’s Appointment as Executive Director Means for UWA
Dr. James Musinguzi has been appointed as the new Executive Director of the Uganda Wildlife Authority (UWA), replacing Sam Mwandha, whose two-year contract has ended. His appointment marks a pivotal moment for UWA, promising new strategies and initiatives to elevate Uganda’s conservation and tourism sectors. A seasoned tourism expert, Musinguzi brings a wealth of experience…
Bank of Uganda Holds Central Bank Rate at 9.75% Amidst Rising Inflation
The Bank of Uganda’s Monetary Policy Committee (MPC) today announced its decision to maintain the Central Bank Rate (CBR) at 9.75%. This decision comes amidst rising inflation, primarily driven by an increase in services inflation, particularly in passenger transport. While headline inflation rose to 3.6% in January 2025 from 3.3% in December 2024, the MPC…
Agnes Mbabazi: Transforming Lives in Uganda Through Agriculture
Sustainable agriculture is improving the livelihoods of millions of Ugandans engaged in crop and animal husbandry. Agnes Mbabazi, CEO of Agrifarm Uganda Limited, has taken this mission personally, striving to revolutionize agriculture in Uganda. With determination and resilience, Mbabazi fully committed to agriculture in 2007. Over the years, she has transformed many lives. Through Agrifarm…
AfDB Presidency Race: Five Contenders Vie for Top Spot – But Where is East Africa’s Candidate?
The race for the presidency of the African Development Bank (AfDB) is heating up, with five candidates vying for the top position. As the election approaches in May 2025, the contest is shaping up to be a diplomatic and strategic battle involving lobbying, regional alliances, and power negotiations. The stakes are high, as the AfDB…
Kenya & Afreximbank: Advancing Africa’s Financial Integration
Prof. Benedict Oramah and a high-level Afreximbank delegation met with H.E. William Ruto of Kenya during his state visit to Cairo, Egypt, to strengthen financial cooperation and advance Africa’s economic integration. The discussions highlighted the critical role of African financial institutions in driving sustainable investments, especially in times of economic uncertainty. President Ruto reaffirmed the…
Arrest of Min. of Finance Officials Over Theft of Shs60Bn BoU Money: Impact on Brand Reputation
On Tuesday, officers from the Criminal Investigations Directorate (CID) made a bold move in the fight against abuse of government funds by arresting nine senior officials from the Ministry of Finance. The arrests followed an ongoing investigation into the alleged theft of Shs60 billion from the Bank of Uganda (BoU), which was discovered in November…
Centenary Bank Eases Access to Finance for Farmers in Kiboga District
In a significant step to improve financial access for farmers and the local business community, Centenary Bank has officially opened a new branch in Kiboga District. The branch, located on 2nd Street, opposite St. Felistas Catholic Parish, was inaugurated on Tuesday, February 4, 2025. The opening ceremony was graced by the Bishop-Ordinary of the Kiyinda…
Tullow Oil Appoints Interim CEO Following Rahul Dhir’s Departure
Tullow Oil plc announced today that Richard Miller has been appointed as Interim Chief Executive Officer and Chief Financial Officer, effective February 14, 2025. This follows the departure of Rahul Dhir as CEO, who will step down from the Board on the same date. Dhir will remain available to the company until his notice period…
UN Chief Guterres Mourns the Passing of the Aga Khan
Antonio Guterres, Secretary-General of the United Nations, has expressed his heartfelt condolences following the passing of His Highness Prince Karim Al-Hussaini Aga Khan IV. The Aga Khan, the 49th hereditary Imam of the Shia Ismaili Muslims and founder of the Aga Khan Development Network, died peacefully in Lisbon, Portugal, at the age of 88. The…
Uganda’s telecom industry set for major transformation in 2025, Says MTN Uganda CEO
Uganda’s telecom industry is set to undergo a significant transformation in 2025, driven by emerging technologies and evolving customer demands. Speaking during a media roundtable at MTN Uganda headquarters in Kampala, MTN Uganda Chief Executive Officer, Sylvia Mulinge, said key trends such as artificial intelligence (AI), low-Earth orbit (LEO) satellites, and innovations in mobile financial…
Airtel Africa Reports Strong Mobile Money Growth in East Africa
Airtel Africa, a leading provider of telecommunications and mobile money services across Africa, has announced strong financial results for the nine months ending December 2024. Mobile services revenue grew by 11.4% to $1,367 million compared to the same period in 2023, driven by robust growth in voice, data, and mobile money services. In East Africa,…
Equity Bank Uganda Celebrates Graduation of First Cohort of Equity Leaders Program Scholars
Equity Bank Uganda recently celebrated the graduation of its first cohort of Equity Leaders Program (ELP) scholars, who have successfully completed their 3-year University Bachelor’s degree programs. The ELP, an initiative under the Equity Group Foundation, aims to nurture academically gifted young leaders in Uganda. Of the 122 scholars commissioned in 2022, 29 have now…
Entebbe International Airport Incident: A Crucial Lesson in Crisis Management and Brand Communication
A tragic incident at Entebbe International Airport in the early hours of Thursday has not only shocked the aviation community but has also raised critical questions about the safety and communication protocols at Uganda’s primary international gateway. Two female passengers collapsed and tragically passed away while waiting for their flight, igniting public concern and calling…
VAALCO Energy Commences FPSO Refurbishment Project in Côte d’Ivoire
VAALCO Energy, Inc. today announced a significant milestone in its Côte d’Ivoire Floating Production Storage and Offloading (FPSO) Dry Dock Refurbishment Project. As scheduled, hydrocarbon production from the FPSO Baobab Ivoirien MV10, operated by Canadian Natural Resources International (CNRI), ceased on January 31, 2025. The final lifting of crude oil is expected to occur around…
UDB Appoints Kihuguru As New Board Chairman
Geoffrey Kihuguru, a distinguished businessman and insurance expert, has been appointed as the new Chairman of the Board of Directors at Uganda Development Bank (UDB). Kihuguru, who serves as the Chief Executive Officer of Pentad Insurance Brokers, brings a wealth of expertise in finance and insurance to his new role. His appointment, which took effect…
World Bank, AfDB Pledge $50 Billion to Electrify 300 million Africans
The World Bank and the African Development Bank (AfDB) have launched “Mission 300,” a joint initiative aimed at providing electricity access to nearly 300 million Africans over the next five years through a $50 billion investment. The ambitious pledge was announced at the Africa Energy Summit held in Dar es Salaam, Tanzania, last week. The…
MTN Hires Nigerian Finance Wizard Onyebuchi To Head MoMo Banking Operations
Telecom giant MTN Uganda has appointed Nigerian finance expert Victor Onyebuchi as the Head of Banking Operations for MoMo, its mobile money platform. MTN MoMo (Mobile Money) is a widely used digital financial service in Uganda and Africa that allows users to transfer money, pay bills, and conduct various financial transactions using their mobile phones.…
Stanbic Bank Spurs Access To Credit By Lowering USD Lending Rate
In a bid to enable Ugandan business operators to have easier and more affordable access to credit, Stanbic Bank Uganda has reduced its USD Prime Lending Rate (PLR) from 13.5% to 13.0% per annum. According to a statement from the bank, the new rate will take effect on March 1, 2025, and will apply to…
Netherlands Boosts Coffee Farming in Rwenzori Region Through CommonGround Project
The Netherlands government, through the CommonGround project, is empowering farmers in Bunyangabu and Ntoroko districts in western Uganda to engage in large-scale coffee farming. By providing both financial and technical support, the Netherlands is transforming local communities and enhancing their agricultural productivity. Impact on Local Farmers Over the years, farmers in Karugutu Sub-county (Ntoroko District)…
Uganda Maintains Top-Four Ranking in Absa Africa Financial Markets Index
Uganda has retained its position as one of Africa’s top financial markets, securing fourth place in the 2024 Absa Africa Financial Markets Index. The report, released in Kampala on January 28th, highlights the country’s strong macroeconomic stability and improvements in market transparency while acknowledging challenges in market depth and pension fund development. The index, which…
Collin Babirukamu Joins Bank of Uganda as Chief Information Officer
The Bank of Uganda has appointed Collin Babirukamu as its new Chief Information Officer (CIO). Babirukamu brings a wealth of experience in digital transformation, cybersecurity, and financial technology to this critical role. His expertise in areas such as artificial intelligence, blockchain, and cloud computing aligns perfectly with the Bank of Uganda’s strategic vision to modernize…
Uganda Baati Partners with Crestanks to Promote Rainwater Harvesting Solutions
Uganda Baati Limited, a leading provider of innovative building solutions, has entered into a strategic partnership with Crestanks Limited, a manufacturer of safe water tanks and storage solutions. The collaboration aims to raise awareness and provide comprehensive rainwater harvesting solutions to communities across Uganda. The partnership was formalized during a meeting between Uganda Baati and…
East African Breweries Reports 20% Profit Growth in H1 2024
East African Breweries Limited (EABL) announced a 20% surge in profit after tax to KSh 8.1 billion in the first half of 2024, compared to KSh 6.8 billion in the same period last year. This growth was primarily driven by reduced interest costs and favorable foreign exchange gains. EABL reported a 2% increase in…
Capital Markets Appeals Tribunal Bars CMA Inquiry into Imperial Bank Directors
The Capital Markets Appeals Tribunal has barred the Capital Markets Authority (CMA) from proceeding with an inquiry into the conduct of eight directors of Imperial Bank during the application of a Ksh 2 billion corporate bond in 2015. The CMA had initiated an investigation into the directors’ roles in the bond application process, leading to…
Uganda AIDS Commission Assures HIV Patients Of Access To ARVs After Trump’s Executive Order
In light of the recent Executive Order by U.S. President Donald Trump, which affected the distribution of life-saving HIV/AIDS medications globally, the Uganda AIDS Commission (UAC) has reassured Ugandans living with HIV that access to antiretroviral (ARV) therapy will remain uninterrupted. This comes after concerns were raised about the potential impact of Trump’s Order on…
SLB Opens Africa Performance Center in Luanda, Angola
SLB, a leading global technology company in energy, announced on Wednesday the opening of its Africa Performance Center in Luanda, Angola. This state-of-the-art facility, spanning 3,200 sqft, will serve as a collaborative hub for industry stakeholders, fostering innovation and development in the oil and gas, new energy, and digital sectors across Africa. The center will…
NCBA Uganda Drives Sustainability with First EV Charging Station
NCBA Uganda yesterday made a significant stride in its sustainability journey by unveiling its first electric vehicle (EV) charging station at its Head Office in Twed Towers, Nakasero. This move aligns with the bank’s “Change the Story” agenda, emphasizing a commitment to environmental responsibility and social impact. The launch coincided with the introduction of a…
Min. Of Health Announces Sudan Ebola Virus Outbreak In Uganda
The Ministry of health has issued a public warning to all Ugandans and foreigners in the country about an outbreak of the deadly Sudan Ebola Virus Disease in Uganda, which has killed one person so far. The public warning about the viral outbreak is contained in statement issued by Dr. Diana Atwine, the Permanent Secretary…
Unveiling Aga Khan Specialized Hospital Nakawa
Uganda’s healthcare sector is poised for a major transformation with the unveiling of the Aga Khan University Hospital’s Nakawa Specialty Centre. Located strategically along Old Port Bell Road, this state-of-the-art facility is setting a new benchmark for medical excellence, not just in Uganda but across Africa. As the flagship of the upcoming Aga Khan University…
MTN MoMo Launches Wesotinge Season 2, Championing Financial Empowerment With MoMo Advance
MTN Mobile Money (U) Limited (MTN MoMo) has launched Wesotinge Season 2, aiming to further empower Ugandans through accessible, fast, and convenient financial services. Following the success of Season 1, which saw a significant increase in loan uptake, Season 2 focuses on MoMo Advance, an innovative overdraft service designed to address everyday financial challenges with…
Equity Bank Uganda Appoints Gift Shoko as New Managing Director
Equity Bank Uganda has announced the appointment of Mr. Gift Shoko as its new Managing Director, subject to regulatory approval. Mr. Shoko succeeds Mr. Anthony Kituuka who has stepped down from the role. Mr. Shoko brings over 26 years of experience in the banking industry to the position. Prior to his appointment, he served as…
Pay with MoMo: Leading the Way to a Cashless Economy in Uganda
As Uganda continues to embrace digital solutions, MTN’s “Pay with MoMo” has positioned itself as a key player in the country’s economic transformation. From reducing costs to supporting financial inclusion and boosting economic growth, MoMo’s cashless payment solutions are paving the way for a financially empowered Uganda. Through its innovative approach, MTN MoMo is not…
MTN Group Fintech’s Partnership with Mastercard gains further momentum, MTN MoMo, MTN Uganda and Mastercard Launch ‘Market by MoMo’ E-commerce Platform to Boost Digital Trade
As part of its commitment to leading digital solutions for Uganda’s progress, MTN Group Fincommerce, a subsidiary of MTN Fintech Group in partnership with MTN MoMo Uganda and collaborating with Mastercard, has officially launched its new e-commerce platform, Market by MoMo, to offer Ugandan traders and buyers a seamless online selling and shopping experience. Market…
MTN Uganda Achieves Impressive Growth Milestones, Strengthening Digital Inclusion for Ugandans.
MTN Uganda has once again solidified its leadership in the telecom industry with exceptional performance over the first nine months of 2024 under the guidance of CEO Sylvia Mulinge. The company’s achievements reflect a robust commitment to enhancing digital connectivity and inclusion across Uganda. Record-breaking growth across Key Metrics MTN Uganda’s latest performance report highlights…
Empowering Women in Banking: Breaking Barriers for a Brighter Financial Future
Sarah Arapta, CEO of Citi Bank Speaking at the recent Women’s Economic Empowerment Forum (#WEEForum2024) in Kampala Women constitute over half of Uganda’s population and represent a powerful, yet underutilized economic force. With more than 18.2 million young women under 35, the potential for transformative change is immense. Yet, significant barriers persist, limiting women’s access…
The Rise of the Creator Economy in Uganda: Can Their Voices Be Empowered in a Digital Age?
In today’s digital landscape, capturing moments through video or social media posts has become nearly instinctive. This shift towards online expression, whether personal or commercial, underscores the influence of the creator economy, redefining how we communicate, consume, and share experiences. Social media has become an essential medium, with content creators emerging as powerful voices, driving…
Captains of Industry: Dr. Fabian Kasi – Pioneering Financial Inclusion and Corporate Excellence in Uganda’s Banking Sector
Dr. Fabian Kasi, Managing Director of Centenary Bank Uganda, stands out as a transformative leader with a visionary approach and unwavering commitment to financial inclusion. In Uganda’s banking landscape, Dr. Fabian Kasi, Managing Director of Centenary Bank Uganda, stands out as a transformative leader with a visionary approach and unwavering commitment to financial inclusion. With…
Speaker Among Warns: ‘Counterfeits Are Killing Ugandans!’ — Calls for National Action
By Isaac Tugume Uganda is grappling with a deadly enemy—counterfeit products—and Speaker of Parliament Rt. Hon. Anita Among is calling for immediate action. Counterfeit goods are flooding the market, posing grave threats to both the economy and the lives of unsuspecting consumers. From fake medicine to faulty car parts, the damage caused by counterfeits is…
Light At The End Of The Tunnel: Karuma Power Plant Goes Live After 11 Years
After more than a decade of anticipation, Uganda’s Karuma Hydropower Plant has finally been commissioned. Launched in December 2013, the project has navigated numerous hurdles—from technical defects and delays to disagreements between the government and contractors. Yet on Thursday, Karuma marked a significant turning point in Uganda’s journey towards energy security, promising to light up…
The Backbone of Business Success: Elevating Supply Chains Through Service Excellence
Service excellence is a vital pillar for the success of any organization, especially in industries where customer satisfaction and operational efficiency are paramount. In today’s competitive business environment, where companies strive to deliver more value and superior experiences, the role of exceptional suppliers cannot be overstated. For MTN Uganda, a company that operates in a…
World Bank Unveils USD217M Grant to Empower Ugandan Women Entrepreneurs
In a landmark move set to revolutionize women’s entrepreneurship in Uganda, the World Bank, through the Private Sector Foundation Uganda (PSFU), has announced an unprecedented grant of USD217 million (over Shs807 billion). This transformative initiative aims to provide women entrepreneurs across the nation with unparalleled access to capital at significantly low interest rates. Unveiled on…
East Africa’s Expanding Horizons In Space Technology
East Africa is making significant strides in space technology, positioning itself as a burgeoning hub for space-related activities on the African continent. The region’s growing interest in space is not just a matter of national pride but is seen as a crucial step towards enhancing communication, improving defence capabilities, and boosting scientific research. With various…
British American Tobacco Uganda Posts Strong Profit Growth Amidst Illicit Trade Challenges
British American Tobacco Uganda Limited has registered a 21.6% increase in net profit from Shs3.7bn to Shs4.5bn for the first six months of 2024, further showing the company’s continued growth trajectory. The company executives said on Aug.2 that the macro-economic landscape was relatively stable as demonstrated by low inflation levels and foreign currency exchange rates…
MTN Uganda’s net profit up 29.7% to Shs 295.7 billion
MTN Uganda has announced a significant 29.7% increase in net profit to Shs 295.7 billion for the half-year ended June 2024, driven by robust growth in voice, data, and fintech services. The telecom company’s voice revenues rose by 15.1% to Shs 626.7 billion, while data and fintech services saw impressive increases of 28.6% and 23.5%,…
PEUGEOT’S GRAND RETURN:REVITALIZING UGANDA’S AUTOMOTIVE LANDSCAPE
After a hiatus of over 30 years, the iconic French automobile brand Peugeot has made a triumphant return to Uganda, bringing a blend of elegance, innovation, and economic promise. The re-launch event, held at The Motor center Multibrand Workshop, marked a significant milestone for the automotive industry in Uganda. As we delve into the details…
MTN Uganda Kicks Off the MTN ICT Expo 2024 Accelerating Business Transformation with Digital Technology.
MTN Uganda successfully held the inaugural MTN ICT Expo 2024, a landmark event set to revolutionize Uganda’s digital landscape. The Expo, held on the 1st and 2nd of August at the prestigious Mestil Hotel, brought together industry leaders, innovators, and key stakeholders to explore the transformative power of digital technology under the theme ‘Accelerating Business…
PostBank Empowers Arua Farmers for Regional Market Dominance
PostBank is on a mission to transform the livelihoods of Ugandan farmers. In a strategic move to boost agricultural exports, the bank has equipped 150 cassava farmers and SMEs in Arua District with essential skills to penetrate the lucrative East African market. Through a four-day intensive training program conducted in partnership with the Federation of…
CFAO Mobility Uganda Introduces Luxurious Land Cruiser Prado
CFAO Mobility Uganda has unveiled the highly anticipated Land Cruiser Prado 250 Series, a pinnacle of luxury and performance. This exclusive model, priced at Sh300 million, represents a significant addition to the Toyota Land Cruiser legacy. Designed to embody the iconic Land Cruiser spirit, the new Prado features a striking design, incorporating retro-inspired circular headlights…
Embrace Tech or Get Left Behind: Housing Finance Chief Urges Innovation in Financial Services
Financial service providers in Uganda have been urged to embrace technological advancements to stay competitive and improve customer experience. This call to action comes from Michael Mugabi, the Managing Director of Housing Finance Bank and the Board Chairman of the Uganda Institute of Banking & Financial Services (UIBFS). Mugabi made these remarks during the 21st…
Uganda Airlines Takes Flight: New Routes to Lusaka, Abuja, and Harare Announced
Uganda Airlines is expanding its wings. The national carrier recently announced the addition of three new routes to its network: Lusaka, Zambia; Abuja, Nigeria; and Harare, Zimbabwe. These exciting destinations will be served by Uganda Airlines’ flagship A330-800 aircraft, starting September 25th, 2024. This expansion marks a significant step forward for Uganda Airlines’ strategic growth…
PostBank Introduces Self-Onboarding ZeroFlex Digital Account to Ease Account Opening
In line with its purpose of fostering prosperity for Ugandans, PostBank Uganda has launched a Self-Onboarding ZeroFlex digital account to enable customers to self-register and have access to financial services anywhere and at any time without necessarily moving to the bank premises. The ZeroFlex account is a digital account that allows existing or new account…
Responsible Oil Exploration: TotalEnergies and PAU’s Strategies for Environmental Protection
A recent article raised significant concerns about the environmental and social impacts of Total Energies’ $10-billion Tilenga project in western Uganda. The project, which involves drilling more than 400 oil wells, many in the Murchison Falls Nature Park, has been criticized by conservationist groups. However, it is important to also highlight the efforts of the…
Bamburi Cement Experiences Share Price Surge Following Buyout Offer Announcement
Bamburi Cement Limited (NSE: BAMB) witnessed a significant increase in its share price on Thursday, July 11th, 2024. The company’s stock closed at KShs. 57.75 per share, reflecting a remarkable 28.3% surge from the previous day’s closing price. This upward movement can be attributed to the recent announcement of a potential buyout. Tanzania’s Amisons Group…
Coca-Cola Beverages Africa Streamlines Production and Bolsters Ugandan Economy with Cutting-Edge Bottling Line
Coca-Cola Beverages is reaping from setting up Africa’s fastest plastic bottle production line in its East Africa operations. It has a capacity of 67,000 bottles per hour and equipped with state-of-the-art technology such as robotic arms and automated fillers and is now driving efficiency and growth in the Ugandan beverages industry. In 2022, Coca-Cola Beverages…
NSSF Reaps Benefits from Telecom Investment: Shs 80.6 billion Earned Over Three Years
The National Social Security Fund (NSSF) of Uganda has reported significant returns on its investment in MTN Uganda, the country’s largest telecom operator. According to a recent press release, NSSF has earned a total of Shs 80.6 billion (approximately USD 21.7 million) in dividends from MTN Uganda over the past three years. “MTN Uganda is…
PostBank appoints Ibrahim Kato new Chief Retail Officer
PostBank Uganda Limited has appointed Ibrahim Kato as its new Chief Retail Officer. With over 15 years of experience in the banking sector, Kato brings a wealth of knowledge and expertise to the role, having worked with both international and local banks. His professional journey is marked by significant accomplishments in strategic planning, retail banking,…
Josphat Mwangi appointed General Manager of Coca-Cola Beverages Zambia
Coca-Cola Beverages Africa has appointed Josphat Mwangi to the position of General Manager for its subsidiary, Coca-Cola Beverages Zambia. Confirming the company’s commitment to developing leadership internally, Mwangi joins the Zambian team from Kenya, where he has been the Commercial Director since June 2020. He has been with the company for just over 21 years,…
Coca-Cola Beverages Uganda takes distribution to the next level
A network of Official Coca-Cola Distributors (OCCDs) is helping to ensure that Coca-Cola products reach Ugandans efficiently in every corner of the country. As a Fast Moving Consumer Goods manufacturer, Coca-Cola Beverages Uganda (CCBU) has innovated to create a system that helps it to consistently deliver quality products to consumers across the five geographical territories…
Stanbic Unit Trust Poised to Capitalize on Uganda’s Booming Collective Investment Scheme Market
Stanbic Uganda Holdings Limited has announced the launch of its Stanbic Unit Trust, strategically entering the nation’s burgeoning Collective Investment Scheme (CIS) market. This move leverages SUHL’s established client base and aligns with the Ugandan Capital Markets Authority’s reported UGX 2.8 trillion in total CIS assets under management as of March 2024 Under SBG Securities,…
Absa Group Concludes Further Agreements with MIGA; Advances Pan African Climate Finance
Absa Group Ltd, one of the largest diversified financial service providers in Africa, has concluded further agreements with the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, freeing up additional financial capacity for investments in Pan-African climate finance projects. In 2019, MIGA issued capital guarantees of US$497 million to Absa in…
Jubilee Life Unveils New Smart Save Plan, Encouraging Ugandans to Prioritize Long-Term Savings
Jubilee Life, a leading insurance provider in Uganda, today announced the launch of its innovative Jubilee Smart Save Plan. This new plan aims to empower Ugandans to prioritize long-term financial security by offering a flexible and secure savings solution. Raising awareness and educating the public about available savings options is crucial for fostering a savings…
King Oyo Visits MTN Uganda Head Office, Hails MTN’s Partnership with the Kingdom
In a significant gesture of strengthening ties and fostering collaborative efforts, the King of Tooro, His Majesty Oyo Nyimba Kabamba Iguru Rukidi IV, made his maiden courtesy visit to the MTN Uganda headquarters in Kampala today. This visit, highly anticipated by both Tooro Kingdom and MTN Uganda, underscores a partnership aimed at driving developmental initiatives…
Kampala Hosts Seventh Annual Bankers’ Conference with Focus on ESG and Sustainability
The seventh annual bankers’ conference, hosted by the Uganda Bankers Association (UBA) on June 19th at the Kampala Serena Hotel, buzzed with discussions on Environmental Social and Governance (ESG) issues, reflecting a growing global trend among businesses. Under the theme “Navigating the Future of Banking: ESG, Sustainability, and Digital Transformation,” the event highlighted the strategic…
Uganda Clays Navigates Operational Challenges, Reports Revenue Decline
Ugandan building materials producer Uganda Clays Limited (UCL) encountered a revenue decline in its recently concluded five-year strategic plan. UCL’s 2023 revenue dipped to Shs 30.1 billion ($8.4 million) from Shs 36.6 billion ($10.2 million) in 2022. The company attributed the decrease to a confluence of internal and external operational challenges. While specifics remain undisclosed,…
Appointment of the NSSF Deputy Managing Director
The Minister of Gender, Labour and Social Development has appointed Mr. Gerald Paul Kasaato as the substantive Deputy Managing Director of the National Social Security Fund (NSSF), Uganda. His appointment follows a recommendation from the NSSF Board of Directors after a rigorous recruitment process. Gerald has been the Ag. Deputy Managing Director since August 2023,…
Glovo Empowers Couriers in Uganda with Comprehensive 3-Day Initiative
Leading multi-category app, Glovo has successfully concluded its highly anticipated 3-Day Courier Program, a series of events focused on the growth, development, and recognition of its couriers. The initiative, themed ‘Courier Day’ which took place from June 18th to June 20th, included comprehensive training sessions, charitable activities, and a celebratory awards ceremony, underscoring Glovo’s commitment…
MTN Uganda to Invest Ugx4.5 billion in the second phase of MTN ACE Program to Champion Youth Empowerment
Following the outstanding success of the initial phase of its youth empowerment flagship initiative, MTN Uganda’s corporate social responsibility arm, MTN Foundation, has launched the second phase of the MTN ACE program to continue equipping youths with digital skills. This initiative underpins the company’s ambition of leading digital solutions for Uganda’s progress based on the…
MTN completes listing of 20% public float
MTN Uganda’s sale of shares left over from its 2021 Initial Public Offering was oversubscribed by almost 100%, the telecom executives said on June 13. The company received applications for 3 billion shares against 1.6 billion shares on offer, The shares sold represent 7.03% of the company’s total equity. The firm’s 2021 IPO, in which…
RwandAir Cargo expands to Dubai and Djibouti
RwandAir Cargo is launching new services to Dubai and Djibouti, both operated by its dedicated freighter B738SF. The expansion is part of the airline’s mission to connect Africa and the world, it said on June 10. The new routes will increase RwandAir’s cargo network to seven destinations and support their continued expansion of freighter offerings…
Bank of Uganda Shuts Down Mercantile Credit Bank Limited
The Bank of Uganda (BoU) took decisive action on June 18, 2024, revoking the license of Mercantile Credit Bank Limited. This move places the bank under liquidation, effectively shutting down its operations. BOU’s decision, which also places Mercantile Credit Bank, located on Old Portbell Rd, under liquidation, revoked its license, and ordered the winding up…
MTN Uganda staff, partners Enhances digital tools and infrastructure to Ariwa Secondary School in “30 Days of Y’ello Care” Campaign
MTN Uganda, along with its partners, last Friday, marked a significant extension of support to Ariwa Secondary School in Yumbe District, West Nile region, as part of the “30 Days of Y’ello Care” campaign. This initiative, an extension of the longstanding “21 Days of Y’ello Care,” celebrates MTN Group’s 30th anniversary and underscores the company’s…
FlexiPay, IFAD and Upesi partner to boost digital money transfer
FlexiPay, Stanbic Bank’s digital payment platform, has partnered with International Fund for Agricultural Development (IFAD) and Upesi Money Transfer, a regional payments company, to enable FlexiPay users to send, receive money from abroad with ease. Josephine Nakato Kasacca, Lead Customer Experience & Operations for FlexiPay said the new partnership reflects the Bank’s commitment to support…
MTN Uganda announces results of its secondary market offer of shares and resumption of trading
On the 13th June 2024, MTN Uganda announced the successful completion of its secondary market share offer, which garnered an exceptional 230% subscription rate. This robust response signifies strong investor confidence in MTN Uganda’s future prospects and the Ugandan telecommunications sector as a whole. The 230% subscription rate surpasses all expectations and reflects MTN Uganda’s…
DHL’S SALOODO! INTRODUCES THE UAE’S FIRST ELECTRIC TRUCK
DHL Global Forwarding’s digital road freight platform Saloodo! has announced that it will be the first logistics company to introduce the UAE’s first electric Mercedes-Benz truck. The fully electric 40-ton eActros 300 Tractor is particularly suitable for heavy-duty distribution transport and compatible with all common semitrailers. Exclusively used by Saloodo!, the truck will contribute to…
Ecobank Group launches 2024 Fintech Challenge with US$50,000 Prize
Ecobank, the pan-African financial services Group, officially opens call for applications to the 7th edition of its Fintech Challenge. This annual competition invites early-stage and mature fintech startups to partner with Ecobank, offering a grand prize of US$50,000 and a chance to scale their solutions across Ecobank’s extensive network spanning 35 African countries. Despite the…
Coca-Cola Celebrates World Environment Day: Highlighting Ongoing Sustainability Efforts
As the world recognizes World Environment Day on June 5th, The Coca-Cola Beverages Africa (CCBA) reaffirms its commitment to building a more sustainable future. Coca-Cola acknowledges the importance of environmental responsibility and has implemented various initiatives to minimize its environmental footprint. In a statement from CCBA’s Official Website, the Chief Public Affairs, Communication and Sustainability…
MTN Uganda Pioneering Environmental Stewardship for a Sustainable Future
Three years ago, MTN Uganda embarked on an ambitious project to restore 220 hectares of forest cover. This initiative, part of the larger “Uganda is Home” campaign, celebrated the symbiotic relationship between MTN Uganda and the people of Uganda, reinforcing the company’s commitment to the socio-economic well-being of the country. MTN Uganda’s forest restoration initiative…
CMA Rwanda welcomes Mr. Thapelo Tsheole as the new CEO
The Capital Market Authority (CMA) is pleased to announce the appointment of Mr. Thapelo Tsheole as the new Chief Executive Officer. With a distinguished career spanning over 24 years in the financial markets, Mr. Tsheole brings a wealth of experience and expertise to his new role. Before joining CMA, Mr. Tsheole served as the CEO…
NCBA Bank, MTN MoMo have joined forces to launch the “Mo Money with Mokash” campaign
In a bid to encourage timely loan repayments and responsible financial behavior, NCBA Bank Uganda and MTN MoMo have partnered to launch the “Mo Cash with Mokash” campaign. The eight-week campaign, which started on May 15th, aims to incentivize customers to repay their loans promptly and develop a good credit history. Through the campaign, customers…
KCB Boss Paul Russo Named Africa Business Leader of the Year
KCB Group CEO Paul Russo has been named the African Business Leader of the Year by Africa Leadership Magazine. Russo’s selection followed rigorous and competitive competition on the African continent, with leadership qualities, transformative vision, and outstanding contributions being key selection criteria. Since he was named CEO, Russo has committed to innovation and sustainability, as…
OFFER FOR SECONDARY MARKET PURCHASE OF ORDINARY SHARES IN MTN UGANDA LIMITED
Monday 27th May 2024. Kampala, Uganda: SBG Securities Uganda Limited (a wholly owned subsidiary of Stanbic Uganda Holdings Limited), in its capacity as the lead sponsoring broker, on behalf of MTN Uganda Limited (MTN Uganda or the Company), hereby announces the sale by MTN International (Mauritius) Limited (the Selling Shareholder) of up to 1,574,807,373 ordinary…
IFC Survey: $2.7 Billion Extra Investment Required to Empower African SMB Digital Transformation
The International Finance Corporation (IFC) has projected that Africa will need to double its annual expenditure to $6 billion in order to expand its digital infrastructure and bridge the connectivity gap between people and businesses on the continent. This projected investment is targeted at deploying more fiber optic cables from the sea to the cities…
MTN Uganda to sell shares left over from undersubscribed 2021 IPO
Telecom firm MTN Uganda plans to sell shares left over from its deeply undersubscribed 2021 Initial Public Offering to local investors to expand local ownership and comply with regulatory requirements, it said on Saturday. The Uganda unit of South Africa’s MTN Group has received regulatory approval for the extra share sale, MTN Uganda said in…
64% of Africans believe in Africa, but only 14% are loyal to African brands
Highlights: Johannesburg, South Africa – May 24, 2024 – Despite 64% of Africans expressing confidence in the continent, they remain loyal to non-African brands, which have retained their lowly 14% of the most admired brands in Africa, Brand Africa revealed in its 14th annual Brand Africa 100: Africa’s Best Brands research and rankings. African nations…
Uganda Banks On Ambitious BPO, IT Services to Create 100,000 Jobs For Elite Youth
The Ugandan government is banking on its comprehensive Business Process Outsourcing (BPO) and Information Technology Outsourcing (ITO) strategy to create 100,000 direct jobs by 2030. This ambitious plan aims to tackle the country’s youth unemployment crisis, with approximately 10 million young people aged between 18 and 30 outside of formal education, employment, or training. “Business…
TotalEnergies reaffirms commitment to creating opportunities for Ugandan youths
French oil company, TotalEnergies EP Uganda has reaffirmed its commitment to creating more opportunities for young people in Uganda to continue making meaningful contributions in their communities. The commitment was made during the company’s commemoration of its over 10 years of youth inclusion and education initiatives in Uganda. Since the start of its operations in 2012,…
Stanbic Bank Unveils A 360-Degree Innovative Lending Campaign
Early this year, Stanbic Uganda Holdings, the parent company of Stanbic Bank Uganda, announced a profit of over Sh400 billion after tax. This was attributed to the bank’s innovative lending initiatives. In a bid to hold on to the success, Stanbic Bank Uganda launched a 360-degree lending initiative on Thursday, offering customer solutions and incentives…
dfcu Limited Marks 60-Year Legacy of Transforming Lives and Businesses in Uganda
dfcu Limited is celebrating 60 years of operation and impactful service towards fulfilling its purpose of ‘Transforming Lives and Businesses in Uganda’. dfcu was established in 1964 as a development finance institution and since then, has contributed to national socio-economic transformation, growing together with Uganda since her independence. Serving as an international commercial bank with a deep-rooted commitment…
DTB bids farewell to former managing director Varghese Thambi
The Diamond Trust Bank has bid farewell to its former Managing Director, Varghese Thambi, marking the end of his 17-year tenure with the bank. Thambi, who joined DTB in 2007, was hailed by the Deputy Governor of the Bank of Uganda, Michael Atingi-Ego, for his instrumental role in transforming the bank from just three branches…
UDB, Partners Join Hands to Collect Blood Amid Shortage Of 200, 000 Litres every year
Uganda Development Bank (UDB) and its partners have today organized a blood donation drive to bolster the much-needed blood bank at Mengo Hospital. Mengo Hospital and Minet are the technical partners in this initiative which is part of a broader effort to increase the availability of safe blood across the nation. The initiative is part…
Baileys Launches Innovative Paper-Based Bottle Trial at Time Out Festival, Barcelona
Baileys, the renowned Original Irish Cream Liqueur, is breaking new ground with an exciting trial of its revolutionary paper-based bottle. In partnership with PA Consulting, Baileys is introducing a Dry Molded Fiber bottle that is 90% paper, featuring a thin plastic liner and a foil seal. This pioneering packaging solution will be showcased at the…
Africa Fintech Accelerator Program: Nigeria Dominates List of 20 Startups in the Continent
Only one Kenyan fintech startup has made it through into the second cohort of Visa’s Africa Fintech Accelerator program. Out of the possible 20 only CheckUps Medical Hub, an Embedded health Kenyan startup, made it to the shortlist. Tanzania got two representatives and Ethiopia also got one. The list is majorly dominated by West and Central African…
IFC AND ABSA TRADE FACILITY TO VOLCAFE TO SUPPORT THOUSANDS OF COFFEE FARMERS IN EAST AFRICA
IFC, a member of the World Bank Group, and Absa Group Limited, a South African-based bank, will provide an up to US$60 million commodity trade finance facility to Volcafe, a leading global green coffee merchant, to strengthen the company’s operations in East Africa, supporting tens of thousands of coffee farmers in the region. The financing…
Tanzania’s NMB Bank Lists Sustainability Bond on London Stock Exchange
NMB Bank PLC, Tanzania’s leading financial institution, has listed its maiden three-year US$ 73 million Sustainability Bond on the International Securities Market (ISM) and Sustainable Bond Market (SBM) Platform at the London Stock Exchange (LSE). Ms. Ruth Zaipuna, Chief Executive of NMB, said: “This extraordinary success highlights the strong confidence Tanzanian and global investors have in…
Dr. Juliet Ongwae Appointed to Fintech Association of Kenya Board
The Fintech Association of Kenya (FINTAK) has appointed Dr. Juliet Ongwae as a Board Director, effective May 20, 2024. Dr. Juliet currently serves as the Senior SupTech Specialist at the Cambridge SupTech Lab, University of Cambridge. She has over 20 years of experience in the digital financial services (DFS) sector. Her extensive background includes significant…
At 75, UBA leads African business transformation with innovative customer initiatives
The United Bank of Africa (UBA) has pledged to set the benchmark for African businesses by forging a united Africa, as it continues on its march towards connecting its customers to the global community, with a primary focus on facilitating seamless capital flow, trade, and investments across Africa and the global economy. Speaking at a…
SPIRO Secures $50M From Afreximbank to Boost Sustainable Transportation in Africa
Spiro, the largest electric vehicle company in Africa, is charging ahead in its mission to revolutionise sustainable transportation across the continent and it recently signed a heads of terms agreement for a $50 million debt facility with the African Export-Import Bank (Afreximbank) at the Africa CEO Forum in Kigali, Rwanda. A statement made available to…
Afreximbank and MobiHealth Sign Project Preparation Facility to Drive Digital Healthcare Solutions Across Africa
The African Export-Import Bank (Afreximbank) and MobiHealthCare Limited (MobiHealth) have signed a project preparation facility agreement that is expected to bolster the expansion of Mobihealth’s telemedicine services in Nigeria, and also assess the feasibility of establishing similar services in Egypt, Ghana, Kenya and Cote d’ Ivoire. Under the terms of the agreement, Afreximbank will part-finance…
UTB decides to register, license all tourism enterprises
The Uganda Tourism Board (UTB) has announced a comprehensive initiative to register and license all tourism enterprises in the country, aiming to identify and eliminate illegal operators. This move targets all unlicensed tourism enterprises, including hotels, restaurants, guest houses, tour operators, and travel agents, to ensure they comply with legal and industry standards. Lilly Ajarova, the…
Captains of Industry Series: Ms. Grace Muliisa – Transforming Banking in Uganda
A Trailblazer in Banking: Ms. Grace Muliisa In the dynamic world of finance, Ms. Grace Muliisa stands out as a transformative leader who has reshaped the banking landscape in Uganda. With a career spanning over two decades, Grace has risen through the ranks, from a fresh university graduate to the first female head of consumer…
New UNBS head questioned, Lawyers demand explanations
Controversy has arisen over the appointment of Eng James Kwesiga Nkamwesiga as Executive Director, of Uganda National Bureau of Standards (UNBS) announced last week. UNBS announced Nkamwesiga successful candidate from the selection exercise that started in January with the advertisement of the position until then occupied, in acting capacity, by Daniel Nangalama. The interviews featured…
Liberty Life Assurance Uganda introduces Kuza Plan that offers customers unparalleled flexibility
Liberty Life Assurance Uganda has introduced the Kuza Plan, a revolutionary financial product merging savings with life and disability insurance. Positioned as a beacon of security and adaptability, officials said at the luanch today that it caters to the needs of corporates and business people aged between 30 and 60, aligning seamlessly with their aspirations…
Eng. Nkamwesiga Kasigwa appointed UNBS Executive Director
The Minister of Trade, Industry, and Cooperatives, Francis Mwebesa, has appointed Eng James Nkamwesiga Kasigwa as the fifth Executive Director of the Uganda National Bureau of Standards (UNBS). In a statement, UNBS reaffirmed its commitment to fulfilling its mandate of developing, promoting, and enforcing standards to protect public health, safety, and the environment against dangerous…
Equity Group reports strong quarter one results, profit after tax up 25%
Equity Group Holdings has announced a remarkable recovery, posting a 25% growth in profit after tax for the quarter ended March 31, 2024. The Group’s profit after tax stood at Kshs 16 billion, a record high, driven by strong leadership decision-making and an agile balance sheet. The Group’s deposit growth slowed down to 11% compared…
Nicholas Lutakome appointed CEO of CIC Insurance Uganda
Nicholas Lutakome, the former CEO of Sanlam Uganda, has been named the New Chief Executive of CIC Insurance Uganda Limited. Mr. Lutakome was selected to succeed Mr Richard Ssevume who stepped down in November last year to join Mayfair Insurance. Kenyan giant CIC Insurance has not had stable leadership for its Ugandan subsidiary for over 6…
AutoXpress expands footprint in Uganda with State-of-the-Art facility
AutoXpress Ltd has announced the grand opening of its third branch in Uganda, further expanding its presence in the country. With over 66 years of experience in the automotive industry, AutoXpress boasts an extensive network of 80+ branches across East Africa, offering a comprehensive range of products and services. The new branch, located along Bombo…
BOU names StanChart the Best Performing Primary Dealer Bank in Govt Securities Market
Standard Chartered Bank Uganda has been named the best-performing Primary Dealer Bank in the Government Securities Market for the year 2022-2023, earning the honour for the second time since the inception of the awards 19 years ago. Primary dealing involves purchase and sell of government bonds and treasury bills through Bank of Uganda to generate…
Coca-Cola to end IPO dry spell with US$8 billion Africa bottler listing
Coca-Cola Co. is advancing plans for a significant initial public offering of its African bottling arm as soon as 2025, with a valuation that could exceed US$8 billion. This major financial move is set to end a period of sluggish activity on African securities exchanges and would be a significant morale boost for the continent’s…
Absa Bank spearheads water, sanitation upgrade in Karamoja
Absa Bank Uganda, in partnership with World Vision Uganda, has commissioned facilities to improve water and sanitation for the girl-child in Abim district, Karamoja. This intervention aims to promote the continued inclusion of girls in education across the Karamoja sub-region. The handover of a fully functional borehole and changing room facility will positively impact 900…
Uganda Tourism Board, Emirates sign partnership agreement to boost tourism
The Uganda Tourism Board (UTB) and Emirates Airlines have signed a partnership agreement aimed at promoting Uganda’s diverse tourism offerings to a global audience. The collaboration, announced by UTB CEO Lilly Ajarova, will showcase Uganda’s iconic tourist attractions, cultural landmarks, and natural wonders through promotional videos on Emirates’ inflight entertainment systems on the Entebbe-Dubai route.…
M-Pesa Boosts Safaricom’s Full-Year 2024 Earnings Despite Ethiopia Losses
Safaricom Plc has released its financial results for the full fiscal year of 2024, reporting robust earnings propelled largely by its M-Pesa mobile money platform. In its Kenyan operations, Safaricom witnessed a remarkable 11.7% growth in service revenue, totaling Ksh 329.8 Billion. EBIT surged by 20.4% to Ksh 139.9 Billion, while EBITDA increased by 16.6%…
Absa Uganda, DHL partner to empower 800 SMEs in export markets
Absa Bank Uganda and DHL Uganda have announced a partnership to support 800 Small and Medium Enterprises (SMEs) in accessing export markets through the 2024 ‘Growing Beyond Borders’ Entrepreneurial Training Programme. The programme aims to empower SMEs by enhancing their understanding of the economic potential of international trade and its benefits. Joseph Odole, Country Manager,…
EfD Takes Research findings to Parliament: Advocates for Regulatory and Policy Framework to Support Transition to Clean Energy for Households
A team of researchers from Makerere University Centre for Environment for Development Initiative (EfD-Mak Center) on Friday 3rd May 2024 went to Parliament to share study findings on Uganda’s heavy reliance on fuel wood and charcoal to guide the country and, in particular Members of Parliament in their policy formulation. Research fellows Prof. Edward Bbaale, Dr. Peter Babyenda,…
Uganda, Tanzania gear up for 2nd business forum to boost bilateral partnership
The 2nd Uganda-Tanzania Business Forum is set to take place on May 23-24, 2024, at the Johari Rotana Hotel in Dar es Salaam, Tanzania. The event aims to strengthen the longstanding ties between the two nations and foster economic cooperation. The forum, themed “Enhancing our win-win bilateral partnership,” will bring together government officials, private sector…
MTN Uganda posts strong growth across all segments in first quarter of 2024
MTN Uganda has its financial performance report for the first quarter ended 31 March 2024, indicating growth across all segments of the business. According to the report, despite MTN Uganda operating in a difficult business environment characterised by a struggling shilling, profit after tax increased 24.4% to Shs 150 billion while total revenue grew 19.5%…
Uganda Airlines Expands Fleet with State-of-the-Art Airbus A320
Uganda Airlines has taken a significant leap forward in its expansion plans with the arrival of a brand-new Airbus A320 aircraft at Entebbe International Airport. The 160-seat aircraft, configured with a 12-seat Business Class and a spacious 138-seat Economy Class, is set to revolutionize the airline’s operations on key routes. According to Uganda Airlines CEO,…
Captains of Industry Series: Mumba Kenneth Khalifungwa; Championing a Customer centric Banking Revolution in Uganda with #YourStoryMatters
Mumba Kenneth Khalifungwa is a distinguished leader serving as the Managing Director of Absa Uganda, bringing with him a wealth of experience and a visionary leadership style. His tenure has been marked by significant achievements and contributions to Absa Group’s transformative initiatives, notably the #YourStoryMatters brand promise. Under Khalifungwa’s leadership, Absa Uganda has witnessed remarkable…
AU, Google Africa Celebrate Africa’s Creative Economy
A thriving creative economy fuels innovation, jobs, and economic growth across Africa. Recognizing this potential, the African Union and Google Africa have joined forces to launch the #DiscoverMyAfrica Shorts Challenge, a month-long campaign of the continent’s rich diversity, heritage, and vibrant spirit. In celebration of Africa Month, YouTube creators across Africa have been invited to share…
Ford Foundation, EACJ Explore Collaborative Pathways to Bolster Justice and Civic Space across the Region
East Africa Regional Director for the Ford Foundation Jessica Horn paid a courtesy call on the Judge President of the East African Court of Justice (EACJ), Justice Nestor Kayobera, at the EACJ offices in Arusha, Tanzania. In their meeting, the two leaders explored avenues of collaboration and discussed the Foundation’s initiatives in bolstering justice, expanding…
Jubilee Insurance executive sees the future of insurance in technology
Technology is the major catalyst for spurring insurance uptake and penetration in the foreseeable future according to Jubilee Life Insurance’s Diana Ndege Ssempasa. Ssempasa who was speaking at the 13th Annual Insurance Agents Awards held recently at Speke Resort Munyonyo said emerged as the second runners-up agent of the year 2023. “As the foot-soldiers, we need…
MTN Uganda firms market grip with 500,000 new customers
MTN Uganda has strengthened its grip on the mobile networks market, growing its new customer base by more than 500,000 in the past four months to hit 20 million. The telecom company’s subscribers stood at 19.5million as at the end of December 31, 2023, according to its annual financial results. “This achievement underscores our commitment…
aBi launches UGX 66.8 billion facility to support 200,000 small holder farmers build climate resilience
The Agricultural Business Initiative (aBi) has launched two innovative programs worth Ushs66.8 billion to revolutionize Uganda’s agricultural sector and tackle the climate crisis. The Green Agrifood System Programme (GRASP) and Accelerating Adoption of Green and Inclusive Finance (AAGIF) aim to empower small-holder farmers, promote sustainable agriculture, and bridge the funding gap for agribusinesses. This ambitious…
Kenya’s Economic Growth Rate to Slow to 5% in 2024-IMF Forecast
Kenya’s Gross Domestic Product (GDP) growth is projected to slow down to 5% in 2024 from 5.3% in 2023 before jumping to 5.3% in 2025. Apart from Kenya, Côte d’Ivoire and Benin, other frontier markets are expected to start issuing Eurobonds in 2025 or later. This will help ease the funding squeeze in those countries…
Africa’s $824bn Debt Burden is Hindering its Potential-AfDB President
Africa’s massive debt load and the nature of many of its resource-backed loans are compromising its economic potential, the African Development Bank’s (AfDB) President Akinwumi Adesina said recently. “I think it’s time for us to have debt transparency accountability and make sure that this whole thing of these opaque natural resource-backed loans actually ends, because…
Asante Financial Services and Interswitch Introduce Agent Float Financing for Quickteller Agents
In a strategic move to improve financing for Quickteller agents, Asante Financial Services Limited and Interswitch have partnered to unveil a pioneering credit service called Agent Float Financing. The new service, which was designed to cater to the distinct credit needs of Quickteller agents, will provide affordable loans to active Quickteller agents who have been…
I&M Bank Uganda Partners with Nnaabagereka Fund for Inaugural Queen’s Ball
I&M Bank Uganda has partnered with the Nnaabagereka Fund for the inaugural Queen’s Ball, a prestigious dinner event aimed at supporting women, youth, and children in Uganda. The Queen’s Ball, scheduled to take place on May 9, 2024 at the Kampala Serena Hotel’s Victoria Ballroom, aims to raise public awareness and funds dedicated to shining…
Johnson & Johnson talc settlement shows limits of bankruptcy tactics
Johnson & Johnson had received scorn for executing the so-called Texas Two-Step bankruptcy strategy. The healthcare titan was facing thousands of claims about allegedly carcinogenic talcum powder. Taking advantage of a quirk in Lone Star State law, it created a subsidiary called LTL to segregate those claims. It then had LTL file for bankruptcy so…
Pharmaceutical company boosted as supplementary budget is approved
Parliament has approved a supplementary expenditure budget worth Shs1.106 trillion for settling the offtake arrangement between government and DEI Pharmaceuticals, wage and pension and gratuity shortfalls. During plenary on Tuesday, 30 April 2023, the Deputy Chairperson of the Budget Committee, Achia Remigio presented the committee’s report approving the supplementary. Achia said the government has initiated…
Carrefour backs Kyambogo Ultra Challenge with UGX 7 million sponsorship
Carrefour, operated by Majid Al Futtaim in Uganda, has announced a UGX 7 million sponsorship of the Kyambogo Ultra Challenge Run, scheduled for May 4th, starting at the Kyambogo University Cricket Oval. The Kyambogo Ultra Challenge Run, held annually since 2010, is the first ultra-challenge marathon organized in Uganda. It serves as a fitness test…
UK sanctions corrupt politicians in Uganda who stole from vulnerable communities
LR: The Speaker of the Parliament, Anita Annet Among, Mary Goretti Kitutu, the Minister for Karamoja Affairs between 2021 and 2024, Agnes Nandutu, the State Minister for Karamoja Affairs between 2021 and 2024. The UK has imposed sanctions on Ugandan politicians charged with corruption. Deputy Foreign Secretary, Andrew Mitchell, has announced sanctions on…
Absa Life Assurance Posts 90% Jump in Profits to KSh 862m
Absa Life Assurance Kenya (Absa Life), an Absa Group subsidiary, has reported an increase in gross profit to KSh 862 million in 2023. “Absa Life continues to maintain a healthy quality of portfolio in the products we provide to the market and the policies that we underwrite, which is a clear testimony to the value…
SLB hailed for supporting Ugandan women in science and technology
Wallace Pescarini, the President of SLB Offshore Atlantic Basin // PHOTO COURTSEY Ernest Rubondo, the Executive Director of the Petroleum Authority of Uganda, has commended SLB (formerly known as Schlumberger) for its efforts in advancing women in Science and Technology. SLB is one of the firms that was contracted by TotalEnergies for drilling, completions, and production…
Bancassurance’s Transformative Impact on Uganda’s Insurance Market
In the ever-evolving landscape of financial services, one term has been making significant waves – Bancassurance. This harmonious combination of banking and insurance not only simplifies a complex concept but also creates a dynamic synergy that benefits both the banking and insurance sectors. Bancassurance, at its core, is about banks and insurance companies joining forces…
TotalEnergies Empowers Employees in Uganda Through Unprecedented Share Ownership
In a groundbreaking move, TotalEnergies, a global leader in energy production and innovation, is revolutionizing employee engagement and empowerment, extending its transformative initiatives to its workforce in Uganda. This strategic shift not only aligns with TotalEnergies’ ethos of sustainability and inclusivity but also signifies a paradigm shift in employee ownership and participation within the company.…
CBK Weekly T-Bills Auction Undersubscribed for the First Time in Months
The Central Bank of Kenya (CBK) Weekly Treasury Bills Auction underperformed for the first time in 8 months. Bids received by the fiscal agent at this week’s auction amounted to KSh 23.6 billion, a performance rate of 98.2%, with the monetary authority accepting KSh 23.2 billion and rejecting KSh 400 million. The most attractive instrument remained the…
TotalEnergies Ranks 1st in Employee Shareholder Ownership in Europe at over €11 billion of its Capital
Paris, April 26, 2024 – Employee shareholder ownership is the best way to associate the employees with the Company’s transition strategy, and therefore it is at the heart of TotalEnergies’ value sharing policy. Therefore, on April 25, 2024, TotalEnergies’ Board of Directors has validated several such initiatives, including: TotalEnergies ranks #1 in employee shareholder ownership in…
Salaam Bank Uganda named best new Islamic Bank at IFN Global Awards
Salaam Bank Uganda, a provide of Shariah-compliant financial services, has won the Best New Islamic Bank award at the prestigious Islamic Finance News (IFN) Global Awards, 2024. The coveted global award recognises the bank’s commitment to providing innovative and customer-centric shariah-compliant financial solutions, as well as its significant contributions to the growth and development of…
Centenary Bank gives 13th Rotary Cancer Run a sh300million boost
Rotary International President Representative Brenda Cressey and speaker Anita Among at the 2024 Cancer Run launch at Nsambya Hospital. Looking on right is Fabian Kasi the Managing Director of Centenary Bank (right Centenary Bank, together with its subsidiary, Centenary Foundation have announced their platinum sponsorship of sh300million, for the 2024 edition of the Rotary Cancer…
Uganda Baati launches 60th-anniversary campaign
Uganda Baati has launched its 60th anniversary campaign at a media event held in Kampala today. Founded in 1964, Uganda Baati has been at the forefront of the steel manufacturing industry, introducing numerous advancements and achieving many firsts in Uganda and the region. It was the first company in the East African region to set…
Global electric car sales grow strongly, 2024 sales set to reach 17 million
The world’s electric car fleet continues to grow strongly, with 2024 sales set to reach 17 million. Despite near-term challenges in some markets, based on today’s policy settings, almost 1 in 3 cars on the roads in China by 2030 is set to be electric, and almost 1 in 5 in both the EU and…
AfDB Sanctions Chinese Firm for Graft in Uganda
The African Development Bank Group (AfDB) has reached a negotiated settlement with China Henan International Cooperation Group over failure to disclose it used a commission agent for a road project in Uganda. China Henan found itself on the wrong side of the AfDB’s Office of Integrity and Anti-Corruption after it submitted a bid for civil…
Blockbuster: Mtn revenue, customer growth recover a year under Sylvia Mulinge’s realm
Sylvia Mulinge, CEO MTN Uganda MTN Uganda reports a 16.1 percent growth in revenues to 2.63 trillion shillings for the year 2023. Most of the revenues, (1.12 trillion) still came from voice services which grew by 11.6 percent, while the fastest growing segment was revenue from the use of data. It maintained its position as…
Bamburi cement officially sells 100% of its shares in Uganda’s Hima Cement
Photo Courtesy: Bamburi Cement PLC Bamburi Cement PLC has sold 1.3 million ordinary shares of its Ugandan unit to Sarrai Group Limited and Rwimi Holdings amidst shrinking demand in the cement market. The cement company revealed plans to relieve its indirect ownership of Hima Cement Limited last year in November, stating that it wished to…
Standard Bank Group appoints Anne Juuko to new role as Global Markets Head for East Africa
Anne Juuko The Standard Bank Group has appointed Stanbic Bank Uganda Chief Executive Anne Juuko to a new leadership role as Global Markets Regional Head-East Africa. The appointment is effective 1 April 2024. A successor will be announced in due course. Kayode Solola, the Standard Bank Group Executive Head for Global Markets—Africa Regions said, “I congratulate Anne on…
Housing Finance Bank, EIB Inject €25m in Female-led Ugandan Businesses
Michael Mugabi, Managing Director/CEO of Housing Finance Bank highlighted what he described as the bank’s strategic focus on enabling micro, small, and medium enterprises (MSMEs), especially those owned by women. Uganda’s Housing Finance Bank (HFB) has joined forces with EIB Global, the investment arm of the European Investment Bank (EIB), to inject €25 million into…
NSSF Assets Under Management hit a record Ushs 20 trillion
NSSF Managing Director Patrick Ayota. The National Social Security Fund (NSSF), Uganda’s national savings scheme, has hit Ugshs 20 trillion in Assets Under Management (AUM), one and a half years ahead of schedule, according to the Fund’s 10-year Strategic Plan. In 2015, the Fund launched the 2015-2025 Strategic Plan, with a key strategic objective to…
UEDCL registers a 10.5% surge in revenue
The Minister of Energy and Mineral Development, Ruth Nankabirwa who chaired the AGM said the government is committed to supporting UEDCL as it prepares to take over Umeme territory to ensure the sustainability of power supply – a key factor for running the economy. State-owned Uganda Electricity Distribution Company Limited has recorded a 10.5% surge…
Unveiling Africa’s Investment Horizon: Key Insights from the 7th Pensions Funds and Alternative Investments Conference
As the global investment landscape continues to evolve, Africa stands at the forefront of emerging opportunities, poised for sustainable economic growth and development. Recently, the 7th Pensions Funds and Alternative Investments Conference provided a platform to delve into the continent’s investment potential, drawing attention to pivotal themes shaping the future of finance in Africa. From…
World Wildlife Day: Tracing Uganda’s Efforts in Connecting People to the Planet
Chimpanzees: Photo: Internet As the world gears up to celebrate World Wildlife Day today, Uganda stands at the forefront of efforts to connect people with the planet, particularly in the realm of wildlife conservation, and several success stories have been registered in that regard. As of January 2022, Uganda’s wildlife enjoyed significant conservation success including…
Pepsi’s Redesign Journey: Balancing Heritage with Innovation in Uganda’s Beverage Market
Introduction: In a bold move that signals a new era for the iconic beverage brand, Pepsi recently unveiled its first major global redesign in 14 years. Rooted in its rich heritage yet embracing the future with vigor, Pepsi’s updated look has sparked conversations worldwide. But what does this mean for the Ugandan market, where Pepsi…
Grace Semakula Appointed New Chief Executive for SBG Securities Uganda
COURTESY PHOTO: Grace Semakula, Newly appointed Chief Executive for SBG Securities Uganda Limited (SBGS) Stanbic Uganda Holdings Limited (SUHL) has appointed Grace Semakula as the new Chief Executive for SBG Securities Uganda Limited (SBGS) and by virtue of that position, an Executive Director on the company Board, effective March 1, 2024. Semakula who was previously…
NCBA launches Premier Banking Offering for high value stakeholders
Courtesy Photo: Chief Executive Officer, Mark Muyobo NCBA Bank unveiled its revamped Premier Banking offering, targeting premier banking customers, prospects, and high-value stakeholders. The key features of the enhanced offering include extended banking hours at select branches, allowing customers to enjoy greater convenience. Additionally, customers now have access to online and mobile banking platforms for…
Admassu Tadesse: A Visionary Leader Shaping Africa’s Financial Landscape.
From Pinterest: Admassu Tadesse, TDB Group President and Managing Director Admassu Tadesse Admassu Tadesse stands at the forefront of Africa’s financial industry, wielding his expertise and leadership to drive growth and development across the continent. As the Group President and Managing Director of the Trade and Development Bank Group (TDB Group), Tadesse’s remarkable journey is…Captains Of Industry: Manoj Murali led digital empowerment at NAM
Manoj Murali, Managing Director, Airtel Uganda Airtel Uganda’s Managing Director, Manoj Murali, Leads Digital Empowerment Efforts at NAM Conference. In a dynamic world reshaped by technology, Airtel Uganda’s Managing Director, Manoj Murali, emerged as a visionary leader advocating for the pivotal role of developing countries in driving digital transformation. At the recently concluded NAM conference…
DTB and TerraPay partner to significantly cut costs of remittances
Courtesy Photo: Varghese Thambi, Managing Director, Diamond Trust Bank and TerraPay’s Muyingo A new partnership between Diamond Trust Bank and payment services company, TerraPay, could cut by more than half the cost of sending money from other countries to Uganda. Currently, it costs an average of 6.2 percent to send money between countries, and about 7.3…
Anne Juuko set to exit Stanbic Bank Uganda
Courtesy Photo: Anne Juuko Anne Juuko is set to leave her position as Stanbic Bank Uganda’s Chief Executive Officer, after exactly four illustrious years, for another role in the Standard Bank Group. According to the information available, she will be heading to Nairobi, Kenya where she will take up the new role of Regional Head,…
How to tag ESG to your brand
Meeting in progress. Photo: Internet Environmental, Social, and Governance (ESG), as complex as it sounds is merely a set of standards that investors use to screen investments. The investments are screened through accelerated sales, and ESG is currently the framework for companies to drive their long-term revenues through investing in Environmental, Social, and Governance projects…
ESG: Here are the 2024 trends to look out for
ESG is a framework used to assess an organization’s business practices and performance on various sustainability and ethical issues. Photo: Internet Environmental, social, and governance (ESG) is now no longer a new concept but a reality resulting from the popularity it has gained over the past few years. This popularity is anchored on its potential…
LEVERAGING THE ABSA FINANCIAL MARKETS INDEX: A BLUEPRINT FOR LOCAL BRANDS TO THRIVE
In the dynamic landscape of global finance, staying informed about the pulse of financial markets is imperative for businesses, especially local brands striving to make a mark across the continent, and as Publicist East Africa, in partnership with Brand Africa 100, we have the responsibility to inform industry players about available opportunities for investment across…
Navigating Financial Waters: Implications of EFC Uganda Limited’s Liquidation on Uganda’s Economic Landscape
DR. Julia Clare Olima Oyet, the esteemed CEO of DPF, has expressed satisfaction with the unprecedented speed at which the settlement of EFC claimants is being handled. Remarkably, claimants are set to receive their compensations within an impressive 10 days of the bank’s closure, setting a new benchmark in financial sector responsiveness. In a significant…
Uganda’s Financial Sector Embarks on a Sustainable Journey: A Boon for National Brand.
If Uganda emerges as a pioneer in sustainable finance within the region, it positions the country as a leader in responsible financial practices. This leadership role can enhance diplomatic relationships, partnerships, and collaborations with other nations committed to sustainability.
NAM Updates: President Museveni Holds Strategic Meeting With Egyptian Investors
In a bid to strengthen the bilateral relations between Uganda and Egypt, President Yoweri Kaguta Museveni on Tuesday held a meeting with key Egyptian investors at State House, Entebbe, during which they discussed trade opportunities between the two countries for the New Year. The Egyptian delegation, which is Uganda for the Non-Aligned Movement (NAM) summit,…
Celebrating Excellence: Brand Africa Unveils Uganda’s Best Brands
On June 3, 2022, Brand Africa, in collaboration with Publics Africa Communications, hosted a captivating live event at the prestigious Protea Hotel Kololo in Kampala, Uganda.
CEO Shuffle: Safaricom Ethiopia Poaches Vanhellepute As Mulinge Settles In At MTN Uganda
The telecom industry in East Africa is abuzz with news of an unprecedented CEO swap between Safaricom, Kenya’s leading telecommunications provider, and MTN Uganda, a subsidiary of the multinational MTN Group.
Brand Africa100 Awards 2023: African Brands Slip To 14% Of Top Most Admired Brands As Non-African Brands Pick Up
The popular annual Brand Africa 100 Awards are back, bigger and better this year and are scheduled to be held on July 6th, 2023 in Kampala.
Equity Bank unveil high-tech contact centre
As one of the strategies to further improve customer experience and deliver services to its customers conveniently, Equity bank has launched a high-tech contact centre. The new Contact Centre will allow the Bank to deliver improved support conveniently to the nearly 1.6 million customers 24/7. Customers will be able to interact with highly trained customer…
MTN Uganda’s New CEO, Sylvia Mulinge Assumes Office
MTN Uganda’s new Chief Executive Officer, Ms. Sylvia Mulinge has assumed office following the exit of former CEO, Wim Vanhelleputte, who was promoted to a regional executive role responsible for MTN Group’s West African markets. Ms. Mulinge whose tenure in office commenced on 1st October 2022 becomes the first-ever female CEO at MTN Uganda, bringing…
NSSF, Ideawake partner to expand access to Hi-innovator programme to more Entrepreneurs in Uganda
The National Social Security Fund (NSSF) has announced a partnership with Ideawake, a global innovation software company, to expand access to the NSSF Hi-Innovator programme to more entrepreneurs across the country. In 2021, the Fund launched the NSSF Hi-Innovator programme, an innovation initiative in partnership with Mastercard Foundation that aims to create an environment where…
Uganda Breweries hosts farmers in symposium to promote Buy Uganda Build Uganda agenda through the Local Raw Material (LRM) program
Uganda Breweries Limited hosted farmers to a forum to discuss the potential to scale up farming to supplement government efforts to see manufactures embrace full sourcing of raw materials they use in their production processes locally. The forum which ran under the theme Agriculture as an Enabler to the Buy Uganda Build Uganda Agenda brought…
Why internet is so expensive in Uganda compared to other countries in East Africa
Uganda’s telecom companies have invested heavily in infrastructure services to boost internet access but the low users have limited their ability to lower internet costs for their customers including the Small and Medium Enterprises. Enid Edroma, the general manager, Corporate Affairs at MTN Uganda says only about 35% of their customers are using smartphones. “We…
HFB unveil Online Gov’t Security Portal that allows customers to buy treasury bills and bonds
Today, Housing Finance Bank officially launched its Government Securities Portal with a campaign dubbed” Invest On The Go” at Mestil Hotel and Residences, Kampala. The online portal, which is housed on the Bank’s website allows customers to buy Treasury Bills and Bonds from anywhere, at any time. The Housing Finance Bank Securities Portal is the…
Absa Bank Uganda has a New Chief Risk Officer
Guy Kimbowa Lutaaya has been appointed Chief Risk Officer (CRO) at Absa Bank Uganda Limited effective 1 October 2022. He is a seasoned finance professional and banker, with over 20 years of experience in finance and over 13 years of experience in banking. In his new role, he will be responsible for leadership and oversight…
Safeboda, Jumia and 24 radio stations banned by UCC for operating illegally
The Uganda Communications Commission (UCC) has issued a public notice ordering the immediate closure of 24 radio stations and 46 courier companies for operating illegally. Notable among the couriers banned include Jumia Uganda and SafeBoda operating in Kampala. UCC in a notice published in New Vision last week indicated that, “according to Sections 26, 27…
KCB Pumps Over Kshs 120B to Support Oil Marketing Companies
KCB Bank Kenya has injected over KShs. 120 billion to support Oil Marketing Companies (OMCs) importing fuel as it seeks to consolidate its support to the energy sector. The Bank has been facilitating oil importation into the country by financing the oil firms under its portfolio that have won business under the Open Tender System…
MTN Uganda joins the league of Africa’s Top 250 Companies
MTN Uganda’s bold decision to list its shares on the Uganda Securities Exchange last year has propelled it to the league of Africa’s most valuable companies. The latest premier annual survey by South Africa’s African Business Magazine on Africa’s Top 250 Companies, ranked MTN Uganda in the 105th position, with a market capitalisation of US$1.124billion…
Google suffer a setback, European Court fines it USD 4Billions
Google (GOOGL) suffered one of its biggest setbacks on Wednesday when a top European court fined it 4.125 billion euros ($4.13 billion) for using its Android mobile operating system to thwart rivals, offering a precedent for other regulators to ratchet up pressure. The unit of US tech giant Alphabet had challenged an earlier ruling, but…
UNOC’s Nabbanja nominated CEO of the Year
Ms. Proscovia Nabbanja, Chief Executive Officer, Uganda National Oil Company has been nominated in the African Energy Awards 2022 as Chief Executive Officer of the year. Taking place during African Energy Week (AEW) – Africa’s premier event for the oil and gas sector scheduled for October 18 – 21 in Cape Town – this year’s…
MTN’s Business Intelligence manager advises youth to startup businesses focused on niche markets to excel
Local startups need to focus on niche markets that they can tap into to excel for better survival and longevity of their businesses, according to Mackinon Kabarole, Senior Manager, Business Intelligence at MTN Uganda. Mackinon, who spoke to the youth undergoing MTN Youth Skilling Program in a virtual interview under the theme ‘Data as a…
MTN Mobile Money customers to earn UGX 5.7 billion interest pay-out for their mobile money balances for the quarter ended 30th June 2022
The benefits of separation of Mobile Money from the telecommunication business are beginning to be noticed as MTN Mobile Money customers are scheduled to receive UGX 5.7 billion interest pay-out for the quarter ended June 30, 2022. MTN Mobile Money Uganda Limited was separated from its parent company, MTN Uganda, in May last year pursuant…
Uber, Bolt resume business in Tanzania
Uber and Bolt have announced plans to resume operations in Tanzania, after weeks of controversy. The companies were forced to suspend services in Tanzania following the government’s regulatory changes that were enforced effectively from March, 2022. In March this year, the Land Transport Regulatory Authority (Latra), which sets and approves fares for ride-hailing operators in…
MTN Uganda congratulates His Majesty the Omukama of Tooro upon his 27th coronation anniversary
MTN Uganda and the Kingdom of Tooro have enjoyed a cordial relationship over the years. This is envisaged through the various initiatives jointly undertaken by the kingdom and MTN. This partnership is underpinned by a cooperation agreement signed between MTN Uganda and the Kingdom of Tooro, back in 2019. The Omukama Rukirabashaija Oyo Nyimba Kabamba…
Awori to resign as Absa Bank Kenya Chief Executive
Absa Bank Kenya CEO Jeremy Awori is set to resign in October after a ten-year stint that saw the lender rebrand from Barclays bank to Absa. According to the lender’s board, Awori is stepping down to pursue a different career opportunity. The Board has initiated the process of identifying a suitable successor and will announce…
PostBank injects UGX 80M towards Value Addition for Small-Medium Enterprises
Stakeholders in the banking sector say financial literacy and skills development should be prioritized in efforts to support Small and Medium Enterprises (SMEs) recover from covid-19 frustration, Speaking during the Signing of MOU btn Post Bank and Federation of small and medium sized enterprise, Julius Kaketo, the managing director of Postbank notes that it is…
Prudential unveil the Safety Steps road safety campaign
Prudential Uganda and Prudence Foundation launched the SAFE STEPS road safety campaign, a public service program aimed at raising awareness about road safety, by providing clear and simple life-saving messages on road safety. The initiative was created and developed by Prudence Foundation, the community investment arm of Prudential, in partnership with the Federation Internationale de…
Priscilla Akora Appointed New Head of Marketing and Communications at PostBank Uganda Limited
Priscilla Akora is the new Head of Marketing and Communications at PostBank Uganda Limited. In her new role, she will be responsible for driving integrated marketing communications, as well as a reputational strategy for PostBank. Prior to her appointment as the Head of Marketing and Communications, Priscilla worked as Marketing Manager, PostBank Uganda where she…
African Development Bank sponsor of African Green Revolution Forum (AGRF)
African Development Bank Vice President Dr. Beth Dunford speaks at a pre-AGRF Summit event centered on the Bank's new African Emergency Food Production FacilityThe African Development Bank returns as a top-tier partner of the African Green Revolution Forum (AGRF) – Africa’s largest agriculture conference – taking place in Kigali, Rwanda, from 6-9 September 2022.On Monday,…Uganda Clays Register a Drop in Profits in the First Quarter
Uganda Clays net profit has dropped by more than half to Shs2.7bn for the first six months ending June.30 but management insists there are no worries at least for now. “We project the economy to improve in the second half of the year resulting in a steady growth in revenue,” the company said in published…
DTB record 30% Growth in Profits after tax in the First Quarter of 2022
DTB recorded a 30% growth to Shs20.3bilion driven by an increase in interest income, fees and commission, and foreign exchange business as Dfcu bank saw profit after tax double to Shs18.7billion. On the other hand, the country’s largest commercial bank, Stanbic Bank saw its net profit increase by 4.6% from Shs154.85billion to Shs162billion during the…
URA unveil lifestyle audit policy to offset corruption and illegal acquisition of property
On 30th August 2019, the URA Board of Directors approved the Lifestyle Audit Policy to combat corruption and illegal acquisition of property. Lifestyle Audit is the process of analyzing a person’s living standards to establish if it is consistent with his or her known source(s) of income. Lifestyle audits – also known as lifestyle checks…
Stanbic Bank records USD 40M transaction growth in East Africa borderless platform
The phenomenal growth of Stanbic Bank’s East Africa Borderless Banking platform has revealed a pent-up demand for secure, real-time transactions across international borders. Spanning a single network that includes Uganda, Tanzania, Kenya and South Sudan, the Borderless Banking solution has grown exponentially starting January 2021 to March 2022, at a rate of USD40million of transactional…
Absa sign partnership with Uganda Institute of Information and Communication Technology
Absa Bank Uganda has partnered with the Uganda Institute of Information and Communication Technology (UICT) to provide ICT skills training to youth in vocational institutions around the country. The training is accredited by Amazon Web Services (AWS) following a partnership between AWS, a leading cloud services provider and Absa Group in 2021. Collectively a total…
Cipla announces dividend payment 4 years after being listed
Cipla Quality Chemical Industries Limited, has announced that it will pay dividends in 4 years since it was listed on the Uganda Stock exchange. In the results for the financial year ending March 31, 2022, Cipla posted a profit after tax of Sh 24B, up from a loss of Sh11B in the previous year. The…
FINCA, NFA unveil Shs 100million partnership deal to restore 60 hectares of forest land
FINCA Uganda and the National Forestry Authority (NFA) have partnered to restore 60 hectares of forest land in the country in the next five years. This corporate social responsibility program to commemorate FINCA’s 30th anniversary in Uganda will involve restoration planting in 10 central forest reserves across the country. The restoration initiative is worth sh100million.…
BAT Uganda register growth in profits for the half year period ended June 30
British American Tobacco Uganda has recorded a 14% increase in net profit to Shs3.9bn for the half year period ended June 30. Results released on Aug. 5 shows that the company’s gross revenue grew by 12% to Shs 50.7bn as a result of an increase in sales volume and product mix compared to the same…
ADB appoints Dr. Alex Mubiru as Director General, Cabinet Office
The African Development Bank has appointed Dr. Alex Mubiru as Director General in the Cabinet Office of the Bank Group’s President, with effect from 16 August 2022. Dr. Mubiru, a Ugandan national, brings close to 25 years of experience to the position, with a proven track record in the various positions he has held at…
KCB Group ventures into DRC
Regional lender, KCB Group, has followed the footsteps of Equity Bank to venture into the Democratic Republic of Congo. KCB Group, which already has operations in Rwanda, Burundi, Tanzania, Uganda and South Sudan, says it has reached an agreement to acquire 85% shares in TMB with the existing shareholders holding the remaining balance for a…
CORPORATE WCW: Asmahaney Saad, Managing Partner, KTA Advocates
Asmahaney is an advocate, a legal consultant and an Alternative Dispute Resolution practitioner. Asmahaney is also a Committee member on the first ever appointed Investment Advisory Committee (IAC) that advises the Minister of Finance, Planning and Economic Development on the Petroleum Revenue Investment Reserve fund( under the Public Finance Management Act), a Non- Executive Director…
Despite Economic Hardships, MTN profits grew by almost half to UGX 193.6Bn
Telecommunication companies have reported that their operations over the last six months have been affected by what they call a difficult macroeconomic environment, characterized by the skyrocketing cost of living and foreign exchange rate. According to the Uganda Bureau of Statistics, the inflation rate rose for the eighth consecutive month at the end of July,…
MTN Uganda adds aYo insurance products to its Senkyu loyalty program in a move lauded by IRA and IBAU
Tuesday 9th August 2022 – Kampala, Uganda: MTN Uganda customers can now use their MTN Senkyu loyalty points to get insurance from aYo, in the form of life or hospital cover. aYo provides fast, convenient, easy-to-use hospital and life cover directly to a user’s mobile phone, and over the last 5 years has enrolled 16…
Xente tech officially a PSO
Xente Tech Ltd, a financial technology platform that simplifies payments and finance for businesses, has obtained the Payment Systems Operator (PSO) license from Bank of Uganda. The National Payment System Act-2020, implemented under the National Payment Systems Regulations, seeks to drive digitization of Ugandan entities as well as streamlining payment systems operators in Uganda. “We…
Djibouti based-bank takeover Top Finance Bank
Uganda’s Top Finance Bank (TFB) has officially been acquired by a Djibouti based bank. The takeover of TFB by Salaam African Bank was confirmed Monday morning by the Bank of Uganda which approved the transaction. “This is to inform the general public that M/s Salaam African Bank (hereafter SAB) with its Headquarters in Djibouti has…
Why Communication is highly important in the Oil and Gas Industry
Corporate communication and Public Affairs is a very important business tool that is vital for the success of any business, company, organization, or association. At a time like this of rapid, economic & technological transformation, the communication profession has never been more valuable to an organization’s purpose, mission, and strategy. The relationship between business and…
PROFILE: Lawyer Edgar Tabaro appointed as Special Envoy of the President of Sudan
Top Ugandan lawyer, Edgar Tabaro, has been appointed as a Special Envoy of the President of Sudan’s oldest political party. Tabaro will serve as the Mahdi’s special envoy in the East African region. Tabaro observed: “The appointment gives immense opportunity to deepen and widen the debates commenced at University College of Dar es Salaam in…
Cente-Tech, Sunbird AI partner to deploy Artificial Intelligence in Uganda
Sunbird AI, a non-profit organization that develops artificial intelligence systems for social impact in Africa has signed a Memorandum of Understanding (MoU) with Centenary Technology Services geared towards developing the Artificial Intelligence based innovation ecosystem to facilitate the usage of technology and development of the software applications in Uganda. The strategic partnership is aligned towards…
Entebbe Airport could be the Regional Hub for passengers traveling through East Africa
Uganda has scrapped taxes on airlines using the Entebbe International Airport, a move that will make it cheaper for transiting passengers to travel through the facility. The move, which may not augur well for Jomo Kenyatta International Airport (JKIA), which has for years claimed the status of being the regional hub for transit passengers, may…
MTN Uganda crowned Most Admired African Brand in Uganda
MTN once again got crowned as Uganda’s most admired African brand in Uganda by Brand Africa 100 | Africa’s Best Brands rankings, based on a survey carried out across 29 countries that represent as much as 85% of the continent’s GDP and population by GeoPoll, the world’s leading mobile surveying platform, with strategic analysis, insights and…
The World Bank, UBOS disagree on the National Accounts Aggregate used to determine Uganda’s Economic Status
The Uganda Bureau of Statistics-UBOS and the World Bank have disagreed on the methodology used in determining the country’s economic status. They will however release a joint statement in the next 24 hours on Uganda’s status. In his State of the Nation Address on June 7, President Yoweri Museveni said that Uganda would achieve the…
If “Uganda is Home”, a ugandan should have been appointed
Ugandans took to social media to criticize the appointment of Sylvia Mulinge, a Kenyan Corporate Executive, with some arguing that after listing on the stock exchange and unveiling the slogan “Uganda is Home,” a Ugandan should have been appointed. Ms Mulinge got the same reception when she was appointed to head Vodacom Tanzania. It was…
PROFILE: Grace B. Muliisa, Managing Director, Ecobank Uganda Limited
Grace B. Muliisa, is a Ugandan Banker and Corporate executive, who was appointed the Managing Director of Ecobank Uganda Limited in August last year. She was the Head Personal and Business Banking at Stanbic Bank Uganda prior to her appointment. Grace is an earnest professional with over 20 years experience in the Banking Sector, across…
World Bank rules out claims of Uganda being a Middle-Income Economy
The World Bank has put the per capita income of Uganda at 850 dollars for the financial year end 2022, with the economy growing at an estimated 3.7 percent. According to the Bank, this average income by a Ugandan is far below the lower-middle-income threshold of 1,045 dollars that was stated by President Yoweri Museveni…
Sylvia Mulinga becomes MTN Uganda CEO and MTN Rwanda CEO Mitwa Ng’ambi becomes CEO of MTN Cameroon
Sylvia Mulinge becomes MTN Uganda CEO, joining from Safaricom, where she served as Chief Consumer Business Officer for the Group. A seasoned executive, she brings with her a passion for transforming customers’ lives using technology. Mulinge replaces Wim Vanhelleputte, who will take on the new MTN Group role of Operations Executive: Markets. In this position,…
Roman Catholic Church joins in opposing the EACOP project, Minister urges companies to open activity areas to public
The government, oil and gas companies continue to counter opposition to the development of the sector in Uganda, which has recently targeted religious institutions. The crusaders accuse the government of allowing activities that they say will affect the livelihoods of mainly poor Ugandans as well as harm the environment. The Minister for Energy and Mineral…
NSSF, the second largest shareholder of MTN Uganda receives Ugx 9.3B dividend pay for the year 2021
Following approval of declaration of dividends by its shareholders at the Annual General Meeting held on the 27th day of May 2022, MTN Uganda has paid out a total dividend of Ugx105.4 billion to its 21,452 shareholders for the year ended 31st December 2021. Each shareholder, registered on the books of the company by 01 June…
RICHARD BYARUGABA: Our procurement report for the FY 2021/22 indicates that local firms receive 90% of business from the Fund albeit of low value while only 10% goes to international firms
The National Social Security Fund (NSSF) has put in place initiatives to support local firms’ capacity, growth and competitiveness for better business opportunities. The initiatives that are already in practice include, the NSSF Suppliers Forum, access to finance through advance payments for high value works, reserve of services, supplies or works to local firms in…
PwC named lead firm in search for new CEO Uganda Airlines
Mr Waiswa Bageya, the Works Ministry permanent secretary, said the search for the new Uganda Airlines CEO would be redone after bid documents were sent to four firms, before settling on PricewaterhouseCoopers (PwC). “We did not advertise but instead developed a bid document and terms of reference that were sent to KPMG, Ernst & Young,…
Court blocks sale of Kampala City Tycoon and Businessman, Patrick Bitature’s Properties
Uganda’s Court of Appeal has blocked South African moneylender, Vantage Mezzanine Fund, from selling businessman Patrick Bitature’s prime properties in Kampala. In his ruling on June 27, Justice Christopher Gashirabake said “there is all evidence that there is a real threat of sale/disposal of the property before determination of the main arguments of jurisdiction of…
Businessman Samuel Majwega Musoke has passed on
According to his family, Mr Majwega had gone to the USA to attend his daughter’s graduation ceremony in Minnesota. “With deep sorrow Ms Halima Majwega of Framingham,Ma and her family announce the sudden death of the father of her children *MAJWEGA SAMUEL MUSOKE* (MK Publisher)of Buziga,Uganda who passed away today the 25th in Louisiana Hospital.Late…
UEPB, President Museveni recognize UBL as leading firm in Export Promotion and Import Substitution
Uganda Breweries Recognized at the President’s Export Award Ceremony Uganda Breweries has been recognized by President Museveni and the Uganda Export Promotion Board as a leading company in export promotion and import substitution. This was at Imperial Royale Hotel, where President Museveni (who is Rwanda for the Common wealth Heads of Government Meeting – CHOGM) was represented…
UDB to lend Shs 300bn in support of Socio-economic Development
Uganda Development Bank is set to lend slightly over Shs300bn in the coming six months to support businesses to overcome the current economic shocks, characterized by high commodity prices. The lender’s Chief Executive Officer, Patricia Ojangole, revealed on June.24 immediately after the Annual General Meeting that the development bank has planned to lend Shs 612bn,…
MTN Foundation Equips Kasese Youth Polytechnic VTI with A Digital Resource Center
The students of Kasese Youth Polytechnic Vocational Training Institute (VTI) in Western Uganda are set to reap from the generous donation of a fully furnished Digital Resource center courtesy of the MTN Foundation in partnership with Enabel a Belgian NGO. This project is hinged on MTN’s strategic priority to build digital skills for digital jobs…
BOU approves dividend payment for Commercial Bank Stakeholders
Shareholders in banking service companies will in a month’s time start receiving dividends for their investments, for the first time since 2019 following BOU approval. Stanbic Bank Uganda and Bank of Baroda will be the first to pay dividends to their shareholders, starting July 24th and August 4th, 2022 respectively, according to the notices to…
Stanbic bank, Prudential launch joint Medical Insurance Cover for Ugandans
With just UGX600, 000 or USD166 investment, Stanbic customers are now able to acquire for themselves and loved ones, annual medical insurance cover of up to UGX 20 million—this, courtesy of Stanbic MediProtect, a joint offer by the bank and Prudential Uganda. Unveiled at a press conference in Kampala, today, MediProtect is open to Stanbic…
UBOS launch a five year plan to support PDM
The Uganda Bureau of statistics (UBOS) has launched structure committees mandated to collect field data regarding the statistics of the country. UBOS earlier on formulated a 5 year Plan for National Statistical Development (PNSD) aimed at delivering all the required forms of data and statistics of the country to bolster proper development plans. The State…
Bank of Baroda to pay stakeholders Shs 25b in dividends upon regulatory approval
Bank of Baroda (Uganda) Limited has informed its shareholders that it will pay the final dividend for the year ended December 31st 2020 following receipt of the necessary regulatory approval. Bank of Uganda, in April 2020 put in place enhanced guidelines for all Supervised Financial Institutions (SFIs), in relation to discretionary payments, including dividends, for…
HFB launches “Zimba Mpola Mpola” Housing Loan Scheme
Housing Finance Bank has launched the Incremental Housing Loan to unlock opportunities for Ugandans to attain affordable home ownership and financial independence. Uganda’s housing deficit stands at 2.4 million housing units and Housing Finance Bank, a fully government owned commercial bank is championing the Sustainable Development Goal (SDG) 11.1 agenda; to ensure that by 2030,…
Former Uganda Airlines boss arrested for abuse of Court Orders
Cornwell Muleya, the former Chief Executive Officer of Uganda Airlines has been arrested on orders of The Inspectorate of Government-IG.. A statement by the Deputy Inspector General of Government, Dr. Patricia Achan Okiria, shows that Muleya was picked up for failing to heed to their summons. “Muleya has been arrested and charged with the offense…
Absa Bank, Bakaima Real Estate Agents partner to offer land purchase loans
Absa Bank Uganda has introduced land purchase loans in a bid to help more people realize their dream of land and home ownership. These loans will enable customers to access affordable financing for the purchase of land in Greater Kampala and select cities in Uganda. The mortgage facility – offers up to UGX 500 million…
IRA UGANDA: All imports into the country to be insured by a locally licensed insurance company
It is not uncommon in our land for things to stop at promise and policy level without real on-ground implementation. This trend has given rise to a doubt-over-faith mentality. It is therefore going to take a considerable streak of successful implementations to turn the distrust into confidence. On that note, going by the numerous developments,…
Banks sign deal to boost interbank trade in Uganda
Fifteen Ugandan banks have signed onto the TradeClear platform to ease and boost interbank trade within the country. TradeClear is an interbank trading platform managed by financial services company Frontclear and is regulated by Bank of Uganda and overseen by the Uganda Bankers Association’s Treasurers Forum. The Ugandan interbank market has been limited to the…
UK gov’t presents FSD Uganda to Gates Foundation
The UK Government has stepped down from funding Financial Sector Deepening Uganda (FSDU) and handed over that role to the Bill and Melinda Gates Foundation, it said on June 15 in a media statement. Since 2015, the UK Government has invested Shs 85 Billion (£17m) to establish and support Financial Sector Deepening Uganda (FSD Uganda),…
MTN Uganda Equips over 700 people with Digital Skills under 21 Days of Y’ello Care Campaign
MTN Uganda has today donated computers and a WiFi router and a multi-purpose printer to the Nakawa Market vendors Association as it concludes its staff volunteerism campaign dubbed 21 Days of Y’ello Care. This follows a series of community outreach projects simultaneously executed in various parts of the country since last week. Today, also marked…
URA to start collecting VAT from Netflix, Uber
Uganda Revenue Authority has established mechanisms to start collecting VAT from non-resident service provider companies operating in the Ugandan economy. Collection of VAT from these companies is starting effective 1st July 2022, and will focus on all electronic service providers. These include Facebook, Netflix, Amazon, Uber, and the like. John Musinguzi, the URA commissioner general…
AJAROVA: It is by law; The Tourism Act, that every tourism enterprise is supposed to be registered, inspected and licensed by UTB in order for them to operate legally
The Uganda Tourism Board (UTB) has announced that come January 1, 2023, all tourism players in the country will require to be registered, and licensed by the Board. The UTB Chief Executive Officer, Lilly Ajarova made the pronouncement while speaking at the training of Public Health Inspectors on the regulatory mandate of the Board, and…
Brand Africa Awards: Mukwano, NBS, Centenary Bank, Movit, Nile Special, Riham Drinks, and Abryanz Collection lead respective categories for best Ugandan brands.
Mukwano Products lands grand Prix as the #1 most admired Ugandan brand. NBS, Centenary Bank, Movit, Nile Special, Riham Drinks, and Abryanz Collection lead respective categories for best Ugandan brands. QG Group’s David Galukande, Rugeyo Farms’ Robert Kabushenga, and Uganda Registration Bureau’s Adv Mercy Kainobwisho honored On 03 June 2022, Brand Africa in partnership with…
FORBES AFRICA 30 UNDER 30 CLASS OF 2022: DANIEL MUKISA
THE FORBES AFRICA 30 UNDER 30 CLASS OF 2022 CARE ABOUT BEING VISIONARIES OF CHANGE AND CATALYSTS FOR INNOVATION. BEING ON THE MOST-ANTICIPATED LIST ON THE CONTINENT, FOR THESE YOUNG TRAILBLAZERS, IS NOT JUST ABOUT COMMERCE AND CLOUT BUT ABOUT ENSURING THEY REPRESENT WELL THEIR COUNTRIES AND THE DIVERSE, HETEROGENEOUS AFRICA THEY WANT TO SERVE.…
USE rules out rumors of data leakages
Uganda Securities Exchange has spoken out on the allegations of a data breach from its servers; specifically allegations of the leakage of personal data from the USE Easy Portal. In a statement dated June15, 2022, USE says based on a comprehensive review of the security status of the Exchange’s servers and IT infrastructure, “the Exchange would…
South African entity had rights to auction Bitature’s properties says Court
The High Court in Kampala has dismissed with costs an application by Kampala businessman Patrick Bitature for a temporary injunction to restrain his creditors of M/s Vantage Mezzanine Fund II Partnership from selling, alienating, disposing of, taking possession, or any action against his properties. This arose from his failure to pay the US$32million he owes the…
Make the organization you work in a positive environment says Uncle Sam
The Public Relations practitioners in Uganda have been urged to create safe working spaces within the companies they work for so as to create strong mental health amongst staff. The call was made by Samuel Apedel, the Senior Manager Public Relations at National Water and Sewerage Corporation (NWSC) while addressing Communications practitioners at Hotel Africana…
Some pump attendants give fuel less than what has been paid for
Government agencies and petroleum marketing companies are divided on whether or not to resume the countrywide crackdown on fuel stations that violate standards. These activities were suspended when COVID-19 broke out more than two years ago and movement became more restricted. The crackdown involved checking the quality of products at pump fuel stations, and the…
Letshego appoints “Aupa” as Group CEO
Letshego has appointed Aobakwe “Aupa” Monyatsi as Group Chief Executive. Prior to this appointment, Aupa held the same role in an interim capacity from 4 May 2022, having led the inclusive finance entity’s digitalization of systems and operations for the last two years in his first Letshego role as Group Chief Operating Officer (Group COO).…
TAT ORDERS DHL TO PAY OVER UGX 1.4 BILLION TO URA
DHL Supply Chain International Ltd, a Ugandan subsidiary of the the Deutsche Post (DHL group in Germany) has been ordered to pay UGX 1,484,422,000 of Value Added Tax (VAT) to URA in a ruling by the Tax Appeals Tribunal (TAT). The ruling follows DHL’s appeal to TAT challenging URA’s position to collect VAT on imported…
UAP Old Mutual bosses the insurance industry
UAP Old Mutual has registered impressive growth and a record market leadership, according to the recently released Financial Statements for the year ended 31st December 2021. Regardless of the low insurance penetration (below 1% mark for years), UAP Old Mutual is leading other companies in terms of revenue, according to a New Vision article. The…
Ugandan Economist graduates from Harvard University
Ugandan Economist and Business Executive, John Kakungulu Walugembe, graduated from Harvard University’s John F. Kennedy School of Government in May.In a color full ceremony, held at the University’s campus in Cambridge Massachusetts, that was graced by the United States of America’s Attorney General, Merrick Garland; John received the Mid-Career Master in Public Administration majoring in…RON KAWAMARA: Today if you go to Glovo, Safe Boda, Uber, we are proud that leaders there came through Jumia ecosystem
Jumia Uganda has celebrated a decade of progress and serving Ugandans with the online platform launched in Uganda in 2012 when e-commerce in the country was virgin and today sells about six million products and delivers to every district in Uganda. Speaking at a partners and vendors appreciation event held at its new head office…
ZTE wins big at the 5G MENA 2022 Awards
ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the mobile internet, today announced it has won the “Best Mobile Transport Solutions to Connect 5G Services” award with its “5G Transport Network Enables Telco’s Digital Transformation” solution at 5G MENA 2022. 5G MENA is one of the…
MTN and Stanbic Bank re-appoints PwC in an audit deal
MTN Uganda Limited has announced the re-appointment of PricewaterhouseCoopers, Certified Public Accountants as the external auditor of the Company for the audit relating to the financial year ending 31 December 2022. The multinational professional services network of firms, which ranks the second-largest professional services network in the world has also been appointed by Stanbic Uganda…
Former Microsoft Kenya Country Director Heads To Meta
Kendi Ntwiga has been appointed as the Global Head of Misrepresentation for Meta, the company that owns Facebook, Instagram, and WhatsApp. This follows her departure from Microsoft Kenya, where she served as the Country Leader. Her tenure started in May, and she will be based in Ireland. According to a statement revealing this development, Kendi…
MTN Uganda shareholders to receive dividends
MTN Uganda, Chief Executive Officer, Wim Vanhelleputte.MTN Uganda shareholders are due to get their first dividends since the company listed on the Uganda Securities Exchange, with the register for those eligible closing June1.The shareholders will have their dividends paid on June 24, with each share earning the holder 4.706 shillings, according to Enid Edroma, the…Kansai Paint ltd partner with AkzoNobel in sell of Africa Business Products
Kansai Paint Co., Ltd. has entered into an agreement to sell its Africa business to Akzo Nobel N.V. (“AkzoNobel”), a global paints and coatings company, said on June 2 in a statement. Kunishi Mori, Kansai Paint’s president said, “We are convinced that AkzoNobel is the best owner as AkzoNobel considers the decorative paints business as…
StanChart Uganda appoints Sanjay Rughani CEO, Kasekende replaces him as CEO StanChart Tanzania, and Sonny Zulu is appointed new Zambia CEO
Sanjay Rughani, a banker with over 25 years of banking experience across the African continent, has been appointed the Chief Executive Officer of Standard Chartered Bank, Uganda He replaces Albert Saltson, who has retired from Standard Chartered Bank after more than 15 years. His final day at the bank was on 23rd March 2022. He…
NBL: We are maintaining our market price despite economic hardships
Leading beer makers Nile Breweries Limited (NBL) have Thursday pledged to maintain the current market prices for all their products, in the face of the surging inflation in the country. The company executives told reporters at their offices in Luzira that they don’t see any short term price hike, as they seek “to enable consumers…
Stanbic Bank Uganda donates Ugx 150m towards Makerere At 100 celebration
Stanbic Bank has made a contribution of UGX150m to Makerere University as the institution marks 100 years of service to humanity. The UGX 150m cash donation is expected to boost activities lined up by the university ahead of the official “Makerere At 100” October celebrations. The activities include public lectures, conferences, and MAK run among…
Eng. Edrisa Kwizera: We do not have an adverse impact as far as the fuel prices are concerned
One of the joint venture partners in Uganda’s oil sector and the developer of Tilenga project, Total Energies, has revealed that the on-going escalating fuel prices have not yet affected their works in Tilenga Development Area. Following the declaration of the Final Investment Decision by both Total and the China National Offshore Oil Company (CNOOC),…
TECH PUNDITS: Smile telecom should pack and leave
At the end of January 2022, Smile Telecom’s 4G LTE network was switched off and until now, the firm continues to encounter challenges on their network that have impacted the service availability. In short, there have been no internet services provided by Smile telecom for 4 months and running now. Smile Telecom clients are frustrated…
Anne-Joy Michira appointed Marketing and Innovations Director for Africa at EABL
East Africa Breweries Limited (EABL) has appointed Anne-Joy Michira as its Marketing and Innovations Director for Africa effective 1st May 2022, taking over from her predecessor Graham Villiers-Tuthill. Prior to this appointment, Michira was the head of the Marketing Department at Beer, East Africa’s largest alcohol manufacturer where she was instrumental in the conceptualization and…
UDB and EUinUG Tourism facility Second Call for Application
Uganda Development Bank Ltd (UDBL), in partnership with the European Union, has announced a special call for eligible businesses in the tourism sector to apply for and receive up to Shs1 billion in grants and soft loans with flexible terms aligned to the current needs of the sector. The Facility is intended to give operators…
First lady to inaugurate, lay foundation stones on Makerere’s new buildings
The First Lady and Minister of Education and Sports, Hon. Janet Kataaha Museveni is slated to inaugurate new buildings at Makerere University and lay foundation stones on the ongoing construction of two other projects. The minister of education will be laying the foundation stone for the school of Law building and for the reconstruction and…
Kin Kariisa ends his reign as Chairman Ecobank Uganda after a decade
Kin Kariisa has ended his 10 years on the board of Ecobank Uganda, a subsidiary of Ecobank Transnational Incorporated (ETI), one of Africa’s largest financial brands, leaving behind a well-entrenched bank, with great growth prospects. Kariisa who joined the bank’s board, in 2012, rising to become Chairman in 2019, was on Thursday, 12th May, together…
Kirunda Magoola wins big at CCBA
Kirunda Magoola has been appointed Public Affairs and Communications Director, Coca Cola Beverages Africa (Uganda) replacing Simon Kaheru who was appointed Group Head of Public Policy and Partnership as of 01 April 2022. Coca-Cola Beverages Africa (CCBA) is the largest African Coca-Cola bottler, accounting for 40% of all Coca-Cola volumes on the continent. In Uganda,…
Coca Cola announce New Sprite brand to ensure Environmental Sustainability
The Coca-Cola system in Uganda yesterday unveiled a new iconic look of its leading sparkling lemon-lime flavored soft drink Sprite in a clear polyethylene terephthalate (PET) plastic bottle packaging. This shift from its iconic green bottle means more Sprite bottles can be collected, recycled and reused to make new items – a move that is…
Absa and Prudential launch Absa Family Protection Plan
Absa Bank Uganda and Prudential Uganda have today launched the Absa Family Protection Plan, a life insurance policy, designed to help families plan for the financial needs faced during the loss of a loved one who is either a member or immediate member of a family. The policy caters to funeral expenses and other paybacks…
South African insurer Sanlam and Germany’s Allianz sign $2.1bn joint venture
South African insurer Sanlam and Germany’s Allianz have agreed to combine their current and future operations across Africa in a joint venture. The total group equity value is expected to be more than $2.1bn and the new entity should rank top three in most of the markets where it operates, according to a statement by…
IFC announces partnership with Equity Bank Kenya
The International Finance Corporation (IFC), the private sector lending arm of the World Bank, has acquired a 6.71 percent stake in Kenya’s regional lender Equity Bank, officials said Tuesday. Mohamed Gouled, the vice president of risk and finance at the IFC, said in Nairobi, the Kenyan capital, that the investment makes the financial institution the…
UAP Old Mutual registers 25% increase in income
UAP Old Mutual insurance company has seen its net profit nearly double from Shs 9.7billion in 2020 to Shs 17.2billion last year driven by increase in gross written premiums, better claims and expense management. The insurer, which owns 45% of UAP Old Mutual Properties Uganda Limited and 32.3% UAP Old Mutual Financial Services Limited, saw…
WorldRemit issues reactive statement about Uganda
Effective June 6, Ugandans will not be able to send money or top-up airtime for individuals in other jurisdictions. However, WorldRemit maintains that Ugandans will still be able to receive money from abroad via their phones. WorldRemit, a cross-border digital payments service provider will shut down part of its money transfer business arm in Uganda.…
Absa Bank donates Ugshs 65m towards Makerere at 100 celebrations
Absa Bank Uganda has contributed 65 million shillings to Makerere University to mark 100 years of excellence in building a transformed society. On Tuesday, Absa Uganda Managing Director, Mumba Kalifungwa handed a 65 million shillings cheque to Makerere University Vice Chancellor, Prof Barnabas Nawangwe for centenary commemorations. Speaking at a press briefing at the University,…
Brand Africa 100: Africa’s Best Brands 2022
Over the years, on average, only 20% of the brands Africans admire are made in Africa. Nike (#1 brand overall), MTN and Dangote (#1 African brands recalled spontaneously and prompted respectively), BBC (#1 media brand) and GT Bank (#1 financial services brand) have dominated the overall rankings. Coca Cola, Mukwano, NBS, Centenary Bank and MTN…
Scangroup counts KSh4.7b investment loss
Marketing services firm WPP Scangroup has made preparations to write off up to Sh4.7 billion investments in its subsidiaries. The manouvre has seen the share premium account –representing the value of shares acquired by shareholders above their nominal price— drop to Sh4.4 billion in the review period from Sh9.1 billion in 2020. Share premium cannot…
Godfrey Muhindo appointed CCO MTN Mobile Money Uganda
Godfrey Muhindo has been appointed Chief Commercial Officer for MTN Mobile Money Uganda Ltd reporting to the Managing Director. As Chief Commercial officer, Godfrey Will be responsible for running the commercial operations of MTN Mobile money looking after Corporate Accounts, Momo pay expansion, and Mobile money distribution across Uganda. Godfrey is a financial and business…
Aber Kwikiriza replaces Colin Asiimwe as Head of Marketing MultiChoice
Lois Aber Kwikiriza has been appointed the new Head of Marketing at MultiChoice Uganda. Kwikiriza takes on the mantle from Colin Asiimwe who has been at the helm of marketing at MultiChoice Uganda for the last two years. While welcoming the newly appointed Head of Marketing, Hassan Saleh the Managing Director MultiChoice Uganda encouraged Kwikiriza…
Tetteh appointed new CEO Prudential Uganda
Tetteh Ayitevie, who has been the Chief Strategy Officer at Prudential Life Insurance Ghana (PLIG), will take over from Acumile Majija. Majija, who has been Prudential Uganda’s CEO designate has joined Prudential’s West and Southern Africa Region as chief executive: Strategic Initiatives and Market Expansion. Majija has been with Prudential since January 2011. He is…
NBL, Standard Chartered Bank & Stanbic Banks fined for Contempt of TAT
The Tax Appeals Tribunal (TAT) slapped a fine of UGX 20 Million on Nile Breweries Limited (NBL) and UGX 30 Million on Standard Chartered and Stanbic Bank for contempt in a ruling read on Saturday. This follows NBL’s earlier application to TAT objecting to URA’s additional assessment of Local Excise Duty of UGX 8,093,539,724 and…
MTN Uganda’s Device Financing scheme is Transforming Lives through Digital Inclusion
Harriet Nakkungu, a businesswoman based in Namataba town in Mukono district had for over 12 years, desired a smartphone to boost her business but she could hardly afford one due to the high cost of genuine smartphones. Last year, her odds changed following a partnership between MTN and fintech platform M-KOPA. She was able to…
Uganda ‘Grey’ listed over money laundering
Uganda’s financial industry risks being blacklisted by international systems for failure to put in place measures that can effectively prevent financial crimes like money laundering. This is a requirement by the Financial Action Task Force (FATF), a global inter-governmental organisation on the initiative of the G7countries to develop policies to combat money laundering and terrorism…
URA projects revenue loss due to budget cut
Uganda Revenue Authority (URA) officials have told Members of Parliament that 4.3 trillion Shillings projected revenue is to be foregone due to different unfunded interventions in the coming financial year 2022/2023. Led by John Musinguzi, the Commissioner General, officials from URA on Monday appeared before Parliament’s Finance Committee to present their policy statement for next…
Uganda’s Communication Industry Set For Exciting Future
Uganda is set to be part of the first-ever report that will cater exclusively to the PR and communications industry within the African continent. This follows a statement released on Wednesday April 6 in which BHM Research & Intelligence announced that starting this year, its annual report on the public relations and communications sector in…
How the global shock has affected domestic tourism
The rising costs of fuel and other essential items is expected to affect the growth of the domestic tour and travel industry, one of the reasons the sector has to find mitigating measures. The industry is mainly driven by transport, food and accommodation, with the first two already being affected by the rising costs of…
UMEME net profits more than triple in 2021
Uganda’s electricity distribution firm, has seen 2021 net profit more than triple to Shs139bn owed to increase in customer base and electricity sales. This is the similar profit earned in 2019 during the pre-COVID period. Umeme recorded a 9% growth in customer base to 1.6million, leading to a double-digit growth in electricity sales from 3,201…
NSSF midterm access could delay for some of beneficiaries
Although the slow verification and random selection of applicants for the NSSF midterm access aims to avoid malpractices for those using the manual applications, it has been identified as the probable cause of delays in the disbursement of the payments. Unlike the online applications, the physical applicants have to go through a manual initiation stage…
Stanbic Uganda 2021 Financial Report
Stanbic Uganda Holdings Limited (SUHL) has announced it grew its net profits by 11% in 2021 to earn Ushs. 269billion from Ush.242bn in 2020, driven mainly by strong growth in non-interest income earned by mostly Stanbic Bank Uganda Limited, its anchor subsidiary. Other subsidiaries of SUHL include SBG Securities Uganda Limited, Stanbic Business Incubator, tanbic…
EU donates shs 31.8B to support customary land reforms
The European Union has provided 8 million euros (31.8 billion shillings) towards efforts aimed at eliminating injustices related to the land tenure systems in the country. The grant to be administered by the World Bank aims at strengthening land tenure security, land administration and land management systems in northern and eastern Uganda. The two regions…
DFCU Bank 2021 financial results, total operating income grows by 21%
Dfcu Bank Limited on Thursday announced its audited financial results for the year ended 31 December 2021 with core business metrics remaining as total operating income grew by 21% to Ugx 369 Billion. According to the dfcu Bank Chief Executive Mathias Katamba, who attributed the positive growth amidst slowed business activity during the Covid pandemic…
CMA urges chipper cash to comply with its regulations
Petition filed by Samuel Obedgiu has raised concern over Chipper Cash operations in the market, tasking officials at the Capital Markets Authority (CMA) to explain how the firm is encouraging Ugandans to invest in global stocks without issuing a prospectus as required by the CMA Act. In November last year, Chipper Cash, one of Africa’s…
UTB launches brand “Explore Uganda” at the Dubai Expo
Uganda Tourism Board (UTB) on Wednesday launched its new destination brand Explore Uganda, The Pearl of Africa, as part of a tourism and media launch event held at the Sheraton Jumeriah Beach Resort in Dubai, United Arab Emirates. The launch is a follow up of the initiatives of President Yoweri Kaguta Museveni at the start…
Absa Group appoints Arrie Rautenbach as CEO
Absa Group has announced the appointment of Arrie Rautenbach as Chief Executive Officer (CEO), effective immediately. “On behalf of the Board, I am delighted to announce the appointment of Arrie as our Group CEO. I am confident that his leadership will provide the continuity and stability necessary to consolidate our purpose and strategy,” said Wendy…
Stanbic Bank donates Shs70million to the LéO Africa Institute
On March 30, Stanbic Bank donated Shs 70 Million to the LéO Africa Institute towards supporting its Young Emerging Leaders Project, which fosters leadership skills by emphasizing empathy, clarity, knowledge and volunteerism, in their various professional backgrounds. “We live in a constantly changing world. This demands that we are constantly learning and rethinking our approach…
How the parternship between Emata and the Netherlands Embassy shall tackle financial problems of farmers in Uganda
The Netherlands Embassy in Kampala partnered with the award-winning Ugandan fintech Emata to accelerate the availability of affordable digital loans to smallholder farmers in Uganda. The partnership includes a grant of up to $590,000 (UGX 2.1 billion) to fund loans to thousands of smallholder dairy farmers. The news was announced during the opening of this…
Rwandan scientist wants to use AI to ease accessibility of radiology
A Rwandan scientist, Audace Nkeshimana, who graduated from Massachusetts Institute of Technology (MIT), an elite US-based university, is looking to make radiology services remotely accessible to Rwandans by using Artificial Intelligence (AI). Nkeshimana says he looks to “democratize” the medical imaging diagnostics in Rwanda by making it possible for radiologists to digitally analyze patients’ images…
UIA rewards CNOOC for the Lake Albert development project
The Uganda Investment Authority (UIA) awarded CNOOC Uganda Limited the FID (Final Investment Decision) Appreciation Award for the Lake Albert development project. President Yoweri Museveni, at this landmark ceremony, said that the revenues accrued from the oil will be critical in strengthening the country’s and the region’s economic development. The Lake Albert development project encompasses the Kingfisher project…
Ucanda resigns from UETCL citing negative media reports
The Uganda Electricity Transmission Company Ltd (UETCL) chairman Board of Directors, Mr Peter Ucanda, has resigned from his job citing what he called negative media reports that have soiled his hard-earned reputation and that of the company. In a March 21 letter to the Finance, Energy, and Privatisation and Investment ministries, Mr Ucanda indicated that…
What the partnership between UTB, PSFU, UTA and Rotary leaders mean to Domestic tourism
The Uganda Tourism Board (UTB) in partnership with Private Sector Foundation Uganda (PSFU), Uganda Tourism Association (UTA), Mastercard Foundation and Adventure Vacation Safaris are hosting a domestic tourism promotion tour at Murchison Falls in a bid to promote domestic tourism, and revive the tourism industry which was badly hit by the COVID-19 pandemic. Dubbed ‘’Fellowship…
Africa requires about $490 billion to unlock productivity for new energy generating capacity
As pressure is mounting for countries to reduce carbon dioxide emissions, the government of Uganda has partnered with an investor to build a carbon-neutral refinery to meet the energy needs of the East African region. Most of the natural gas resources in Africa remain untapped while the continent was also exploring ways of reducing emissions…
LuxSE, RSE sign MOU to develop sustainable finance in Rwanda
The Luxembourg Stock Exchange (LuxSE) and Rwanda Stock Exchange (RSE) have signed a long term Memorandum of Understanding (MoU) between the two institutions to improve cooperation. The event was held during a special Ring the Bell ceremony held in Luxembourg, in the presence of Rwanda’s Ambassador to Belgium and Luxembourg, His Excellency Ambassador Sebashongore. The…
Equity Group Kenya register double Net Profits
Kenya’s Equity Group saw its net profit nearly double for the 12 months to December 31, 2021 on the back of a reduction in loan loss provisions and growth in interest income from lending to the government. Profit After Tax increased by 99% to Kshs 40.1 billion ($343.59 million) from Kshs 20.1 billion ($173.5 million) …
Digital lenders who breach new regulations risk penalties
Digital credit providers (DCPs) in Kenya will have to disclose their sources of funds and provide evidence of the same following the coming into force of a law meant to regulate the sector. The new regulations published Monday by the country’s financial regulator, the Central Bank of Kenya (CBK), also requires digital lenders to get a license…
CiplaQCIL joins stakeholders in Phartech Exhibition
Cipla Quality Chemicals Limited (CiplaQCIL) has joined other stakeholders in drug manufacturing, storage, regulation and sales to participate in the East Africa Phartech Pharmaceutical and Healthcare Exhibition. Speaking on the sidelines of the launch of Uganda’s premier international exhibition, which focuses on pharmaceuticals, medical and healthcare technology, Mr Ajay Pal the CiplaQCIL chief executive officer,…
CNOOC and Kyambogo University partner to offer Internship and employment to graduates
Kyambogo University has partnered with China National Offshore Oil Corporation (CNOOC) for collaboration in the areas of internship, employment of graduates, Joint research, and technology transfer, among others. Prof. Eli Katunguka – Rwakishaya, the Vice Chancellor appreciated the opportunity since Kyambogo University has a niche in Engineering, it would generate knowledge in the oil and…
The World Bank invests Shs 540 billion in Agriculture Cluster Development Project
The government is determined to continue with the electronic system of agricultural input purchases. The e-Voucher system launched in 2019 was developed by United Bank for Africa and used as a purchase and payment system to boost the Agriculture Cluster Development Program (ACDP). The system enables the farmers to order inputs like seeds, fertilizers and…
NSSF pays Shs 20billions above Weekly mid-term payment target
The National Social Security Fund has paid out Ushs78.8 billion to 4,417 eligible members to date, UGX 20.8 billion above its weekly target of UGX 50 billion. Speaking to media at a press briefing held today at Workers House, the NSSF Managing Director Richard Byarugaba said that the payments reaffirmed the Fund’s commitment to avail…
Carrefour commits to sell cage-free eggs across its Carrefour franchises
Developed in partnership with The Humane League, the first-of-its-kind commitment goes beyond what legislation prescribes and contributes to further improvements in farming conditions in the region. Under the new Farmed Animal Health and Welfare Policy, Majid Al Futtaim will promote alternative and more sustainable housing systems, such as cage-free, outdoor access systems, free-range systems and…
French conglomerate Bolloré set for an exit
One of the biggest recent surprises in the African logistics sector over the past few months has been Bolloré’s decision to pull out of the industry. The French conglomerate has been a major player over many decades, with operations ranging from ports and shipping to rail and warehousing, and the firm had expanded its operations over…
Uganda Airlines completes feasibility study on routes it intends to fly to
Uganda Airlines has completed feasibility studies on a number of routes the National Carrier plans to fly to. Some of the routes in question include Mumbai in India, London in United Kingdom, Goma and Lubumbashi (both in the Democratic Republic of Congo). Owing to the fact that the COVID-19 pandemic has changed so many things, Uganda Airlines-even when it…
Jumia launches 9th tech-sale edition
E-commerce firm, Jumia has officially launched the 9th edition of its annual tech-sale. Executives said yesterday (March 21) in Kampala that the sale activity will run from March 21 to April 3rd themed “Upgrade your tech today”. This year’s Jumia tech-sale will offer shoppers across Uganda up to 50% on more than 100,000 deals ranging…
Uganda Launches Plan To Manage Oil Spills
The Rt. Hon. Robinah Nabbanja, the Prime Minister of Uganda has urged entities charged with overseeing the oil and gas operations in the country to widely publicise the National Oil Spill Contingency Plan (NOSCP) that she officially launched today. The NOSCP is a framework to guide national oil spill preparedness and response in the event…
Get Now, Pay Later: Sage Buyers Partners with Lipa Later to Advance Apple Products to Customers
Ugandan Apple Products’ dealers Sagebuyers have announced a partnership with Lipa Later, Kenyan tech-led consumer credit platform to enable their clients receive iPhones and other Apple products available at the Sage Buyers store on credit. The new arrangement that targets corporates and other salary earners mostly will have people getting their dream Apple products after…
Kenya-based agritech Apollo raises $40 million in Softbank-led round
Kenya-based agritech Apollo Agriculture, which helps farmers access high-quality farm inputs, financing and markets, plans to double the number of farmers it is serving by the end 2022 and to introduce other products that deliver more value per acre of land. This is after raising $40 million in Series B funding in the equity round led…
IMF clears Uganda for UGX455Bn credit after “good performance”
The International Monetary Fund-IMF, has given Uganda a clean bill of health regarding the handling of the COVID-19 pandemic, the funds and the economy as a whole. For this, the Fund’s board has allowed for the immediate release of 127 million US Dollars (about 455 billion Shillings) for the country as part of the Extended…
Stanbic Bank’s #OneStepCloser to cheer up Ugandans after Lockdown
The social media hashtag #OneStepCloser that has been gaining popularity in recent weeks can now be firmly linked to Stanbic Bank Uganda, as the lender’s new brand campaign aimed at rallying Ugandans to pursue their dreams and rebuild their businesses after the pandemic. In a statement to the press, Daniel Ogong, Stanbic Bank Uganda’s Head…
Here’s The Role Of UDB In Accelerating Post Lockdown Recovery Of MSMES
Over the last two years, the COVID-19 pandemic impacted businesses on national and global scale. Governments in many developing countries introduced severe containment measures, involving restrictions on economic activity and mobility, to curb the spread of COVID-19. In Uganda, public transport and non-essential businesses were closed during the two lockdowns (March-June 2020, and June-August 2021). Other…
Stanbic Bank retains 22% bancassurance market share
Bancassurance contributed UGX103.5billion to the UGX1.1trillion Gross Written Premium (GWP) recorded by Uganda’s insurance sector in 2021 with Stanbic Bank accounting for 22% 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 UGX32bn to the…
Albert Saltson leaves Standard Chartered Bank Uganda
Saltson, a Ghanian national was appointed CEO and Managing Director of Standard Chartered Bank Uganda in March 2017. He took over from Herman Kasekende, the first Ugandan to head Standard Chartered Bank, having been appointed to CEO Standard Chartered Bank Zambia. Saltson’s tenure has been mostly about digitization of the bank to meet dynamic customer…
DIGITAL SAFETY IS A RIGHT, SAYS UCC BOSS
Digital safety is a fundamental right for consumers, and all stakeholders should join hands to enforce it, the Uganda Communications Commission Ag. Executive Director Irene Kaggwa Sewankambo has said. “The Commission recognises that digital safety is a fundamental right for all consumers; it is not a privilege, and guaranteeing it is a concerted effort of…
Uganda’s financial market according to ABSA Africa Financial Markets Index (AFMI) for 2021
Michael Atingi-Ego, the Deputy Governor of Bank of Uganda, said, “Uganda’s inspirational ranking amidst a raging Covid-19 pandemic should galvanize us to sustain the good policies and interventions as well as to undertake the strategies that will unleash the power of our financial market to drive economic growth and socio-economic transformation.” Uganda has improved its…
DPF to compensate closed financial institutions by the Central Bank
The Deposit Protection Fund (DPF) has revealed that it has about 20.1 billion which is supposed to be paid to shareholders and depositors of closed financial institutions upon the conclusion of liquidation processes by the Bank of Uganda (BOU) In 2016, the Financial Institutions Act 2004 was amended to provide for the establishment of an…
Maria Kiwanuka named board chair of Airtel Mobile Commerce Uganda Limited
Kampala – 3rd May 2022: Airtel Mobile Commerce Uganda Limited (AMCUL), the leading mobile financial solutions provider in the country, has today appointed Hon. Maria Kiwanuka as Board Chair. The appointment that was announced by Airtel Money Africa’s Group CEO, Mr. Vimal Ambat, is part of changes that have also seen AMCUL’s CEO, Mr. Aritho…
IRA launches inaugural Insurance Week to take insurance information closer to the people
March 3, 2022. The Insurance Regulatory Authority of Uganda (IRA) has launched the inaugural Insurance Week, an event that seeks to take insurance information closer to the people so as to enable people make informed buying decisions and increase the uptake of insurance services. Speaking at a media briefing at Golf Course Hotel on Thursday,…
CNOOC takes Final Investment decision on Uganda’s oil project
CNOOC Uganda has confirmed a final investment decision (FID) for the Kingfisher field, marking another step forward for the Lake Albert development. Energy Minister, Ruth Nankabirwa, said on November 3rd the chairman of CNOOC had reported the FID to her in writing. “I can confirm to you that CNOOC Uganda Ltd has taken its FID…
MTN and licensed stockbrokers arrive in Arua for the MTN IPO sensitization tour.
Representatives from MTN Uganda and SBG Securities plus Crested Capital (stockbrokers of the MTN IPO), have arrived in Arua for a town hall meeting to drive awareness and provide vital information about the MTN offer of shares and the stock market to communities in the area. This is in an effort to arm the public…
The quest for industrialization: UIA receives land in Nakasongla and Butambala
Uganda Investment Authority (UIA) yesterday 2nd November 2021 received 1 square mile of land for industrial park development from the Ministry of Defence in Nakasongola. The land was received by the UIA team led by their Chairman, Morrison Rwakakamba. UIA, as the chief investment promotion agency of the Government of Uganda, was directed by the…
Buddu County Chief Urges People of Masaka to Embrace Economic Development as MTN sensitizes the Public on its IPO
The Buddu County (Pokino) has urged the people of Masaka to embrace economic development as MTN spreads awareness about how Ugandans can participate in the ongoing MTN Initial Public Offering (IPO). Levis Sempiira who was representing the Pokino of Buddu lauded MTN for its support and relationship with the Buganda Kingdom, encouraging the people of…
Standard Bank Group Selects Flutterwave to Drive Digital Transformation Efforts Across Africa
Standard Bank customers in eight African countries to enjoy enhanced digital payments experience in partnership with Flutterwave On 28th October 2021, in Johannesburg, South Africa, Standard Bank, the parent company of Stanbic Africa Holdings Limited for which Stanbic bank Uganda is a subsidiary and Africa’s largest bank by assets, has partnered with Flutterwave, Africa’s leading payments technology…
MPs block Shs 3bn COVID-19 stimulus package to Serena hotel
The parliamentary trade committee has stopped the payment of a stimulus package of Shs 3 billion to Kampala Serena hotel by Uganda Development Corporation (UDC). Serena hotel is owned by a consortium that includes Tourism Promotion Services (TPS), a division of the Aga Khan Fund for Economic Development, National Social Security Fund (NSSF), and Proparco, a…
CNOOC – Bunyoro kingdom partner to prepare youth for oil opportunities
China National Offshore Oil Corporation (CNOOC) Uganda has stepped out with projects aimed at preparing Bunyoro kingdom subjects to tap into opportunities created by the oil and gas sector. While the discovery of oil in the Albertine region has raised fears of a likely resource curse, government and oil companies are putting in place strategies…
UIA, American Chamber of Commerce partner to increase American investment in Uganda
The Uganda Investment Authority (UIA) and the American Chamber of Commerce Uganda (AmCham) have today signed a Memorandum of Understanding (MoU) to promote and facilitate American investment in Uganda. The agreement aims at creating a favorable climate for economic activity and promoting Uganda as the premier investment destination in Africa for American investors. UIA Director…
Ecobank Uganda dedicates Ecobank Day 2021 to bridging the information gap on Mental Health
Ecobank Uganda, a member of the leading pan-African banking group, the Ecobank Group, is celebrating the ninth annual Ecobank Day, its flagship corporate and social responsibility annual event that ‘gives back’ to the local communities across Africa. Ecobank Day is an annual event that was first held in 2013, focusing each year on a specific…
Uganda Tourism Board Seeks Additional Shs3.3bn For Dubai Expo
The Uganda Tourism Board (UTB) has urged Government to provide additional funding to a tune of Shs3.3bn to promote Uganda’s tourism at the ongoing Dubai Expo despite questions raised on the partial expenditure of Shs360M the Board received in the first batch of funds. While appearing before Parliament’s Trade, Tourism and Industries Committee, Lilly Ajarova, Chief…
UTB Officials grilled for Dubai Expo Budget expenditures – Half was spent on travel & Per Diem
The committee on trade, tourism, and industry has tasked the Uganda Tourism Board (UTB) to account for the 360 million shillings spent during the Dubai 2020 Expo. UTB led by its Executive Director Lilly Ajarova today appeared before the committee which is probing into concerns arising from Uganda’s participation in the Dubai Expo in the…
Airtel Uganda Partners with Ankole Coffee Producers Cooperative Union to provide a convenient payment platform
Airtel Uganda has partnered with Ankole Coffee Producers Cooperative Union(ACPCU) to provide the convenient Airtel Money payments platform services to enhance payments of ACPCU’s member farmers in a simple and secure way across the Ankole region. This partnership will simplify and improve farmer’s payments for all participating cooperatives, and all members of the Coffee value…
URSB launches e-filing Application System for Intellectual Property Rights Holders.
The Uganda Registration Services Bureau (URSB) as part of their All- digital, All-online strategy has today, 26th October 2021, launched an Intellectual Property (IP) Online Filing (Front Office) System that is designed to enable the public file for IP protection remotely over the internet. The tool is used for receiving Intellectual property applications for trademarks.…
Stanbic, KACITA sign deal to ease importation of goods.
Stanbic Bank and traders under the umbrella body, Kampala City Traders Association (KACITA), recently signed what they described as a ground-breaking trade and tax partnership pact that will ease the clearing of their imports. Stanbic Bank and KACITA say their partnership will significantly ease traders’ ability to source goods from Asian markets as well as…
Uganda to export milk to Zambia
Uganda has secured a new market for its milk in Zambia following a long unresolved impasse with Kenya which was the largest market for Uganda’s exports. Since December 2019 when Kenya authorities ceased at least 3000 bags of powdered milk and packets of Lato milk on claims that Uganda had smuggled the products into the…
MTN Pulse partners with ARAPAPA by Santa ANZO to mentor youth in fashion.
In a highly anticipated event, MTN Uganda’s youth platform, MTN Pulse yesterday on the 24th October 2021 unveiled a partnership with seasoned fashion mogul, Santa Anzo through her establishment ARAPAPA by Santa ANZO to mentor and equip the youth with fashion and entrepreneurial skills. Santa Anzo is the Founder & President of Uganda International Fashion…
East African and non-EAC citizens tipped on how to apply for shares in MTN Uganda
It is as fresh as an oven-baked cake that MTN Uganda has offered over 4.5 billion shares to the public for acquisition. The offer signifies that the public can now become shareholders of MTN meaning they will own part of the company. The move, the telecom’s Chief Executive Officer, Wim Vanhelleputte said is part of MTN’s…
Ayoba users to send MTN MoMo for Free in ‘Life inside Ayoba’ campaign
MTN Uganda in partnership with SIMFY, the developers of Ayoba, has launched a campaign dubbed ‘Life inside Ayoba’ that will see Ayoba users sending MTN MoMo for free to fellow Ayoba users. Introduced to the Ugandan market last year, Ayoba, the African super app, is the first-ever instant messaging app that allows its users the…
URA misses first-quarter target by Shs 499bn
Uganda Revenue Authority (URA) has missed its target for the first quarter of the financial year 2021/22 by Shs 499.49 billion. Out of the Shs 4.959 trillion target set by government, the tax body managed to collect Shs 4.459 trillion. However, this is a revenue collection growth of Shs 389.7 billion from the 2020/21 collections of…
5th edition of Chief Financial Officer awards launched
ACCA Uganda and Deloitte have officially unveiled the 5th (2021) edition of the Chief Financial Officer Awards to be held on December 09th, 2021 under the theme, “Finance leaders as drivers of sustainability.” The launch of the awards strategically coincides with the Global Ethics Day-themed “Ethics Empowered.” Speaking at the launch ceremony held in Kampala…
How Ugandans in the diaspora can take part in the MTN IPO
When MTN announced that it would be selling shares to the public last week, it emphasized that Ugandans would take priority. The telecom even revealed some incentives that Ugandans would enjoy in form of bonus shares in addition to taking priority in the allotment. Following that announcement, queries from social media have displayed appetite from…
Stanbic Bank seizes MOGAS Oil over failure to pay bank loan
Stanbic Bank Uganda has taken control of petroleum products distributor MOGAS after the latter reportedly failed to pay back a three-year loan. The bank immediately put the company, whose full name is: Maestro Oil and Gas Solutions under receivership to recover its money. None of the two accepted to disclose how much money is involved.…
MTN Uganda CEO answers Pertinent Questions around the MTN IPO
On Monday 11th October 2021, MTN Uganda opened its Initial Public Offer that will run until 22nd November 2021 at 4 pm. The MTN Uganda Chief Executive Officer (CEO), Wim Vanhelleputte, sheds more light on the MTN IPO, responding to some of the pertinent questions from the prospective retail investors. First and foremost, how would…
Salary Secrets Of Top NSSF Bosses Leak: How Senior Managers Swim In Billions Of Taxpayers’ Money
Whereas several Ugandans are struggling to access their savings with the National Social Security Fund (NSSF), the managers of the Fund are literally swimming in billions of cash. Credible sources within this government entity have revealed to this website that top bosses at NSSF are living a very luxurious lifestyle because of the hundreds of…
A storm for newly appointed Civil Aviation Authority Director-General
“Mr. Kanyagoga was irregularly recruited as he didn’t meet the criteria in the advert and lacks the requisite integrity to run such a highly specialized agency with regulatory powers,” said a Whistleblower. A whistleblower only identified as Jabbe Pascal Osinde Osudo, today wrote a letter to the Chairman, Parliament Committee on Commissions, Statutory Authorities and…
Forbes Africa 30 under 30(Class of 2022) Call for nominations – Which Ugandans will make the list?
For 10 years now, Forbes has published an annual definitive compilation/list of young people changing the world by building brands, creating jobs, and transforming lives in their respective fields. Today, 08th October 2021, a call for nominations for the class of 2022 has been announced. In Forbes Africa’s 8th edition, Forbes Africa has announced that…
UTB Officials On Spot For Embarrassing Uganda At Dubai Expo
Officials of the Uganda Tourism Board (UTB) have come under fire from several Ugandans who are faulting them for not only embarrassing President Yoweri Kaguta Museveni but also the entire country during the Dubai Trade Expo, where they failed to display many of the locally manufactured products and innovations. Trouble for the UTB officials started…
MTN’s localization agenda commended by President Museveni
The strategy by telecom giant MTN Telecommunications Company of getting Ugandans involved as partners in its activities has been described as very important by President Yoweri Museveni who said it allows Ugandans and Africans to be partners in all the activities of the company. “Localisation is very important. It removes nationalism in business, where all…
USE and MTN Mobile Money partner to Digitize SCD Account Opening in a move to further Financial Inclusion of Ugandans
Uganda Securities Exchange’s (USE) Securities Central Depository (SCD) and MTN Mobile Money have today unveiled a digital SCD account opening platform to further efforts towards financially including all Ugandans. A Securities Central Depository commonly referred to as an SCD account is an electronic account on which securities are held and any transactions regarding trades or…
Stanbic Uganda registers sh154.9 billion profits in half year performance.
Stanbic Uganda Holdings Limited (SUHL), a member of the Standard Bank Group, has demonstrated business resilience, weathering through the effects of the Covid-19 pandemic to post a robust performance in the first half of 2021 with strong growth across all key metrics. The strong performance has largely been driven by Stanbic Bank Uganda Limited, the…
Equity named best Regional Banker.
Equity has been named the Best Regional Bank in East Africa by the 2021 African Banker Awards. The award was conferred to the Bank for its strong and consistent financial performance, its role in leading the disruption of Fintech innovations in banking and for its consistency in championing the socio-economic development of communities through its…
MTN Wakanet MAX delivers affordable, reliable 4G internet to homes
MTN Uganda, in line with its vision of delivering a bold new digital world to its customers is set to transform Uganda’s homes into smart homes with MTN WakaNet MAX, a home Internet solution that offers affordable and reliable 4G data connectivity to multiple family members, with a single WakaNet MAX router. With a single…
Protection of intellectual property key in transforming Uganda, says URSB Boss
Transformation of Uganda into a modern, prosperous society as laid out by the National Development Plan III will largely depend on how fast Uganda can harness, protect and utilize intellectual property, the Uganda Registration Services Bureau (URSB) Registrar General Mercy Kainobwisho has said. According to her, intellectual property should be utilized in a manner that encourages…
At Glance: 2021 Half Year Kampala Real Estate Market Performance Review.
The economy in general and the real estate sector specifically, remained subdued over the past one and a half years due to the lockdown restrictions that affected different sectors of the economy. In the previous property market report (H2-2020), the outlook for 2021 pointed to GDP remaining below expected levels, as per the Bank of…
Oil and Gas: ‘Signing of EACOP agreement boosted demand for office, residential space
The signing of the Shareholder’s agreement of EACOP and the Tariff and Transportation Agreement by Uganda and Tanzania, resulted in a marked increase in inquiries across asset classes in Kampala. The aforementioned agreements opened the way for the development of the Lake Albert development project in Q2 2021, hence increased inquiries on assets according to…
Land issues: Minister Nabakooba launches National Call Centre
In a bid to expedite addressing land issues such as illegal land evictions, incidents of corruption and bribery, Lands Minister Judith Nabakooba yesterday launched a National Call Centre based in Wandegeya. She said that in her term at office, she has prioritised the issue of land evictions, which have made life so difficult for many…
War against corruption: Vice President Alupo calls for exemplary leadership
Vice President Jessica Alupo has said corruption is partly seen in leaders’ behaviors and called for exemplary leadership to fight the vice. “You are holding these public offices in trust of the citizens. We need to be exemplary as Leaders in fighting corruption, starting with ourselves. Corruption is partly an attitude issue and is seen…
France aids Uganda against COVID 19, donates sh10.8b items
The Government of France has donated to Uganda sh10.8 billion covid fight items such as one million FFP2 face masks, fifty four thousand six hundred antigen testing kits and nine Osiris3 respirators. They were handed over to Uganda this afternoon at a ceremony held at the National Medical Stores (NMS) offices in Entebbe in the presence of…
Health Ministry condemns malicious attacks on its officials.
Ministry of health has condemned malicious attacks on Ministry of Health officials by groups of persons who have been politically organised with an intent to defame . This follows yesterday’s protests by a group of people who called for resignation of the Health Ministry Permanent Secretary Dr. Diana Atwine. The Ministry’s Spokesperson Emmanuel Ainebyona in a press…
BIG READ: A LOOK AT JUNE 2021 PERFORMANCE OF THE ECONOMY REPORT
Real Sector Annual Headline inflation slightly increased to 2.0% in June 2021 from 1.9% the previous month, largely driven by increases in prices for food and non-alcoholic beverages during the month. Economic activity weakened in June 2021 largely on account of the implementation of restriction measures to curb the resurgent spread of Covid-19 during the month. Similarly, sentiments about doing business, as measured by the Business Tendency Index (BTI), turned pessimistic in June 2021. The pessimism followed implementation of a second phase of the lockdown measures to mitigate the spread of Covid-19.…
Maya Project Uganda Chapter operating illegally- NGO Bureau clarifies.
The National Bureau for Non-Governmental Organisations (NGO Bureau) under the Ministry of Internal Affairs has said Maya Project Uganda Chapter, an organization under spotlight for alleged trafficking, is nota registered NGO. NGO Bureau is mandated to register, regulate, monitor, inspect, coordinate and oversee all NGO operations in the country. “Equally, all stakeholders and the general public…
A boost to pathogenic economy as UIA gives Prof. Ogwang investment license.
The Uganda Investment Authority (UIA) is on move to prioritize channeling its investment support to local scientists and innovators that are active in the pathogenic economy. Uganda stands to benefit from investments in this nascent sector. The COVID-19 pandemic has underscored the need for home-grown solutions to such pandemics. On July 21st, the State Minister for…
Gov’t takes over Busoga University as Museveni demands for accountability of sh15b loan
Government has agreed to take over Busoga University as a public institution with its sh15b loan, which President Museveni on Sunday morning said will be paid after its accountability. The development follows a series of meetings between Government officials and university heads. “After a series of meetings, the government has agreed to take over Busoga…
Communications sector weathers COVID 19 storm, subscriptions cross 28 million mark.
The Communications sector in Uganda has weathered the storm caused by COVID 19 and registered growth, with total subscriptions crossing the 28 million mark, according to the Uganda Communications Commission (UCC) quarterly market report. The report indicates that there was a net account addition of 590,000 mobile and fixed subscriptions in the period January to…
Prudential Uganda completes the transfer of IAA Health Insurance business.
Prudential Assurance Uganda Limited (Prudential Uganda) has successfully transferred the policy holders, staff and agents of International Air Ambulance Healthcare (IAA Healthcare) to its business. This follows a comprehensive transfer process that was presided by the insurance industry’s supervisory body, the Insurance Regulatory Authority (IRA). According to Arjun Mallik, Regional CEO of Prudential Eastern and…
African Guarantee Fund Appoints Jules Ngankam as Group Chief Executive Officer
African Guarantee Fund has announced the appointment of Jules Ngankam as the new Group Chief Executive Officer.
Agripreneur: Gov’t sets up National Strategy for Youth Employment in Agriculture to Mitigate COVID-19 Crisis
The government of Uganda through the Ministry of Agriculture, Animal Industry and Fisheries (MAAIF) are optimistic that the National Strategy for Youth Employment in Agriculture (NSYEA) is one of the quickest measures to mitigate the adverse effects of the Coronavirus (COVID-19) pandemic on the economy, especially in regards to unemployment. According to Minister for Agriculture Vincent…
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The EAPI Summit is East Africa’s premier real estate event, bringing together over 450 global investors, developers, and professionals from the real estate industry Under the theme “Positioning for Opportunity”, Nairobi’s premier real estate…
The Ministry of Finance, Planning, and Economic Development has announced the release of funds for the fourth quarter (Q4) of the 2024/25 financial year, alongside a positive outlook on Uganda’s economic performance.…
Uganda has been voted the Best Investment Destination in East Africa for the third consecutive time at the Annual Investment Meeting (AIM) Congress. This achievement is a testament to the country’s growing…
Uganda has secured €85 million (approximately UGX 340 billion) in development aid from France to significantly improve both water infrastructure and broader urban development in the Greater Kampala Metropolitan Area (GKMA), Finance…
The Deputy Speaker of Parliament, Rt. Hon. Thomas Tayebwa has called upon investors and entrepreneurs in Uganda to stop treating insolvency with stigma, saying that this can only be achieved if they…
As the Easter season approaches, Flexipay by Stanbic Bank has announced a new promotional campaign offering users the chance to win UGX 500,000 when they receive money from relatives abroad. From April…
The United Nations Economic Commission for Africa (ECA) Executive Secretary, Mr. Claver Gatete, has emphasized that aid is no longer a viable solution for Africa’s development. Instead, he says the continent needs…
AFC’s earnings growth was driven by improved asset yields, prudent cost-of-funds management and sustained traction in advisory mandates Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has announced its strongest…
African countries must invest in new and revamp old refineries to secure their energy future, according to Gloria Sebikari, Head of Corporate Affairs at the Uganda Petroleum Authority (PAU). This call to…
In a groundbreaking move to transform the business landscape across Africa, the Afriexim Bank (Africa Export-Import Bank) is poised to unveil the first-ever African Trade Centre (AATC) in Abuja, Nigeria. This state-of-the-art…
The Uganda Electricity Distribution Company Limited’s (UEDCL) recent 14% reduction in power tariffs has been welcomed throughout the country’s manufacturing sector. Manufacturers welcome the move by the entity under Paul Mwesigwa’s stewardship,…
Returning to a previously held role where he provided pro bono advice to the Bank, Rt. Hon. Mitchell is passionate about Africa’s development and has extensive knowledge and experience in managing the…
The 11th Session of the Africa Regional Forum on Sustainable Development (ARFSD-11) concluded at the Speke Resort Convention Centre in Munyonyo, Kampala, bringing together a powerful coalition of African leaders, policymakers, and…
The African Union Commission, United Nations Economic Commission for Africa, and the African Development Bank are hosting the 6th Africa Climate Talks in Kampala, Uganda, on April 7-8, 2025. This critical event…
African Development Bank Group and Nigeria Kick Off $538 million agro-industrial project across eight states Nigeria’s food and agriculture sector is set to enter a new era of industrialization, as the Nigerian…
The Uganda Manufacturers Association (UMA) has a new champion at the helm, with renowned businessman Aga Sekalala Jr. taking over as Chairman of the Board. Sekalala’s appointment is set to transform the…
In a significant move to promote financial inclusion and drive Uganda towards a cashless economy, Housing Finance Bank (HFB) has partnered with Pesapal Uganda. This groundbreaking partnership aims to improve payment solutions,…
The facility will support small and medium-sized enterprises (SMEs) and local corporates engaged in the import sector The African Development Bank and the Bank of Africa Tanzania (BOAT) have signed a $7.5…
Dr. Patricia Ojangole, Managing Director of Uganda Development Bank, has called on African leaders to tap into domestic resources to drive economic growth and reduce reliance on foreign loans. She says this…
Between 2019 and 2022,UK was Uganda’s second largest source of investment after the Netherlands with an average annual foreign direct inflow of USD 685 million and a cumulative stock of USD 3.0…
President Yoweri Museveni’s new ban on the exportation of raw materials aims to encourage value addition in Uganda, potentially transforming the agricultural sector. President Museveni issued the Monday April 7, 2025, via…
In a significant move to enhance digital banking and expand financial access, Ecobank Uganda has entered a strategic partnership with Interswitch Uganda, a leading digital payments and commerce company. This collaboration aims to revolutionize banking…
As the world edges closer to climate tipping points, Nairobi this week becomes the heartbeat of agricultural innovation and planetary survival. At the inaugural CGIAR Science Week, global science minds are converging…
Uganda Breweries Limited (UBL) has made a strategic appointment with the hiring of Josephine Njoroge as the new Director of Finance and Strategy. This move is aimed at boosting the company’s revenue…
In an era where personalized services and exclusivity are becoming the norm, Safaricom PLC has once again raised the bar with the launch of Emerald, a platform designed specifically for their most…
Flavia Tumusiime, one of Uganda’s most celebrated media personalities, has made a dynamic return to the Nation Media Group (NMG) Uganda. In a move that has sparked excitement and intrigue across the…
By Joseph KanyamunyuDirector, Public Affairs & Government Relations, Publics Africa Communications In February 2024, Uganda crossed a critical threshold. The Financial Action Task Force (FATF), the global authority on combatting illicit finance,…
A Parliamentary Leader with the Mindset of a Reformer This week, Publicist East Africa is proud to spotlight Rt. Hon. Thomas Tayebwa, the Deputy Speaker of the Parliament of Uganda, as our…
The Drone-Based Disaster Management Project will establish a drone training centre in Mozambique to train 30 professionals, including 10 instructors The African Development Bank, the government of Mozambique, and Korea’s government agency…
Where Academia Meets Action in Development Finance This week, Publicist East Africa proudly spotlights Dr. Patricia Ojangole, Managing Director of the Uganda Development Bank (UDB), as our Captain of Industry a leader…
In a bold move that signals both continuity and a strategic shift, Absa Bank Uganda has appointed Keith Kalyegira as its new Board Chairman a decision that industry insiders say could catalyze…
Key findings Strong demand conditions drove growth in input buying, as firms stocked up amid anticipation of more upturns in activity later in the year, slightly lifting the monthly Stanbic Purchasing Managers’…
In business, few individuals have impacted the Ugandan economy like city businessman Elvis Sekyanzi Wavamunno, son of tycoon Gordon Wavamunno, the proprietor of Spear Motors and several other business ventures. With a…
MTN Uganda’s leadership team, headed by Ibrahim Ssenyonga, General Manager of the Enterprise Business Unit, visited ATC Uganda on April 1, 2025, to commend CEO Dorothy Kabagambe Ssemanda for her instrumental role…
Located in the new Sports City complex and just 20 minutes from Blaise Diagne International Airport Four Points by Sheraton, part of Marriott Bonvoy’s global portfolio of over 30 brands, today announced the…
The awards celebrate Africa’s most innovative and transformative financial deals, highlighting exemplary execution, effective mobilization of new liquidity pools, and innovative deal structuring Two African Development Bank Group supported projects have garnered…
The Uganda Airlines Mobile App payment system is a real game-changer in the travel industry, revolutionizing the way passengers book and pay for flights. Jenifer Bamuturaki, the Uganda Airlines Chief Executive Officer,…
Absa Bank Uganda has appointed Moses Rutahigwa as Retail and Business Banking Director, effective 02 May 2025. With 17 years of extensive experience in the banking sector, Rutahigwa joins Absa from Standard…
The Petroleum Authority of Uganda (PAU), which is headed Ernest Rubondo, the Executive Director, has reaffirmed its dedication to sustainable oil and gas development, prioritizing the conservation of Uganda’s rich wildlife heritage…
The recent handover of Umeme’s distribution assets to the Uganda Electricity Distribution Company Limited (UEDCL) marks a significant milestone in Uganda’s energy sector. This development is expected to profoundly impact the country’s…
The Uganda National Mining Company (UNMC) has taken a significant step towards transforming the country’s mining sector with the appointment of Dr. Gerald Banaga-Baingi as its Executive Director. This move is expected…
The exhibition’s theme, “Strategies, Challenges, and Best Practices for Artificial Intelligence Integration in Higher Education in Uganda,” highlighted the importance of leveraging AI in learning. Prof. Mary Okwakol, Executive Director of NCHE,…
MTN Uganda has honored Dr. Babra Ofwono, the Founder and Chief Executive Officer of Victorious Education Services (VES), for her outstanding contributions to women’s empowerment, particularly in education and leadership. The recognition…
The government of Uganda and its joint venture Alpha MBM Investments signed an implementation agreement worth US$4 billion (about 14.6 trillion) to construct an oil refinery in Hoima District. This will transform…
Bank of Baroda (Uganda) Limited has released its Annual Report and Audited Financial Statements for the year ended December 31, 2024, showcasing robust financial health and strategic growth. The report highlights the…
Premier Invest has presented a range of investment opportunities, totaling a minimum $1.37 billion, in Africa’s energy and oil and gas sectors at the inaugural Congo Energy & Investment Forum Financial services…
As Uganda inches closer to joining the ranks of oil-producing nations, one project remains at the heart of its ambitions: the East African Crude Oil Pipeline (EACOP). Stretching 1,443 kilometers from the…
The Commissioner General of Prisons, Can. Dr. Johnson Byabashaija, recently hosted a delegation from Stanbic Bank, a member of the Standard Bank Group led by Kevin Wingfield, Head of Personal and Private…
The alliance will harmonize trade practices and introduce a standardised framework that ensures secure, predictable, and efficient trade movement African Export-Import Bank (Afreximbank) and Zep-Re (PTA Reinsurance Company) today launched the Trans-Africa…
Muganwa’s inclusion on the Board signals the bank’s intent to further integrate strategic deal-making and long-term investment thinking into its top-level decision-making an edge that could redefine how Stanbic delivers value to…
In a fresh twist of events, the Auditor General, Edward Akol, has revised the figure for the Umeme buyout from the earlier estimated Shs700.218 billion to Sh432.677 billion, a move that’s bound to…
Uganda’s coffee industry is experiencing a significant surge, with exports reaching unprecedented heights. According to a recent report from the Ministry of Agriculture, Animal Industry and Fisheries, coffee exports in February 2025…
“We will continue to support Lesotho very strongly through our new focus on infrastructure for industrial competitiveness” Akinwumi Adesina The African Development Bank Group plans to invest $331 million in key strategic…
A team of innovative Ugandan researchers, led by Fiona Magoba and Louis Muhindo, has developed a groundbreaking mobile application, PeDD, which empowers farmers to diagnose crop diseases instantly and receive expert recommendations…
The new Abusera International Airport will complement Ethiopia’s recently expanded Bole International Airport, which is expected to reach its annual 25 million passenger capacity limit soon The African Development Bank and Ethiopian…
This groundbreaking event marks the official commencement of construction for this historic project and is a significant step in Barbados and CARICOM’s journey towards economic advancement and regional integration African Export-Import Bank…
In a move to revolutionize mobile money payments, Network International, a leading enabler of digital commerce, has partnered with Dubai-based carrier Flydubai to introduce mobile money payments for customers in Kenya and…
The Minister for Energy and Mineral Resources Ruth Nankabirwa downplayed fears that the power supply in the country is set to be interrupted with the exit of Umeme, following the expiry of…
Nnenna Nwabufo, the Bank’s Vice-President for Regional Development, Integration, and Business Delivery, met with a delegation from the Council led by Deputy Executive Secretary Ali Idi at the Bank’s headquarters in Abidjan…
Uganda Development Bank Unveils Women Prosper Loans to Boost Financial Inclusion and Economic Growth
In a bid to promote financial inclusion and support the government’s objective of economic growth, the Uganda Development Bank (UBD) has launched the Women Prosper Loans. This innovative financial product is specifically…
The aim of the programme is to modernise a strategic section of Cameroon’s road network, which is essential for transporting people and goods between the north and south of the country The…
In a bid to combat deforestation and promote sustainable development, the government of Denmark has pledged to partner with Uganda on a massive reforestation campaign in an initiative that aims to plant…
In a year defined by resilience and growth, Stanbic Uganda Holdings Limited has once again proven its leadership in Uganda’s banking sector. The company’s stellar 2024 financial results underscore its unwavering commitment…
Helpware, a global leader in Business Process Outsourcing (BPO), has welcomed Uganda’s newly launched BPO policy, hailing it as a transformative step in positioning the country as a major outsourcing hub in…
The Ugandan government‘s decision to ban doctors and medical personnel employed by the state from owning and running private facilities is a move aimed at improving service provision in the health sector.…
Somalia’s membership of Afreximbank is a significant milestone that places the country on a path of sustainable economic transformation, upgrading of the country’s trade and industrial infrastructure Somalia has formally acceded to…
The private sector has a critical role in promoting sustainable water usage and mitigating the effects of climate change. This was emphasized by officials from Stanbic Bank Uganda and Uganda Breweries Limited…
As part of its Women’s Month celebrations, MTN Uganda’s Business Segment Manager, Justina Icabala paid a special visit to DFCU Bank’s Executive Director & Chief Corporate and Institutional Banking Officer, Kate Kabaingi…
In a strategic move to expand its product offerings and cater to premium customers, Crown Beverages Limited has launched Nivana Packaged Drinking Water in sleek glass bottles. This innovation not only responds…
Roofings, a leading manufacturer of steel products in Uganda, is playing a vital role in contributing to the country’s economic growth. With its state-of-the-art manufacturing facilities and commitment to quality, Roofings, which…
MTN Uganda, through its Corporate Social Responsibility arm, MTN Foundation, has today officially inaugurated a new school block at Ocokican Community Secondary School in Ocokican Sub-County, Soroti District, in Eastern Uganda. This…
As Uganda’s oil and gas sector continues to evolve, strategic partnerships have emerged as a vital component for driving growth, productivity, and profitability. According to Ali Sekatawa, Director Legal, at the Petroleum…
The Ugandan government has revised the final buyout price for national power distributor Umeme to USD190.9 million, approximately Shs699 billion, from the earlier estimated USD191 million, about Shs700 billion. This development comes…
The Bank has approved 77 projects valued at $3.9 billion to support the implementation of Country Food and Agriculture Delivery Compacts across 32 countries, with an additional $1.72 billion in planned approvals…
Also wins Best Bank for Trade Finance in Burkina Faso, Côte d’Ivoire and Rwanda Ecobank Group, the leading private pan-African financial services group with unrivalled African expertise, is proud to be named…
As the world celebrates Women’s Month, MTN Uganda’s Senior Manager for Supply Chain Logistics, Sharon Nyaika, paid a courtesy visit to Dr. Paulina Chiwangu, the UN Women Representative in Uganda. The visit…
Uganda’s economic transformation can only be achieved through sustainable development, according to Patricia Ojangole, Managing Director of the Uganda Development Bank Limited (UDBL). This statement emphasizes the crucial role sustainable development plays…
Uganda’s national carrier, Uganda Airlines, has launched direct flights from Entebbe to Gatwick Airport in London, marking a significant milestone in the country’s aviation history. This new route is expected to boost…
The East African Crude Oil Pipeline (EACOP) Limited has taken a significant step towards building local expertise in Uganda’s oil and gas sector. In collaboration with Chu Kong Petroleum and Natural Gas…
Over 260 Young Artists Poised to Showcase Talent as Africa’s Creative Economy Gains Momentum Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, is doubling down on its commitment to Africa’s…
In celebration of Women’s Month, MTN Uganda’s General Manager for the Enterprise Business Unit, Ibrahim Senyonga, paid a courtesy visit to Jean Byamugisha, Chief Executive Officer of the Uganda Hotel Owners Association…
The government of Uganda has, through the Climate Change Department (CCD), launched the Climate Mobility Blueprint for Uganda, a groundbreaking initiative developed by the Global Climate Center for Climate Mobility (GCCM), in…
The Executive Director of the Petroleum Authority of Uganda (PAU), Ernest Rubondo, has hailed insurers in Uganda for their transparency in declaring revenue from the oil and gas sector. Speaking at the…
By leveraging platforms like AGES, Africa can strengthen partnerships, unlock funding, and implement policies that drive a sustainable and resilient future The African Development Bank Group participated in the third edition of…
The public relations (PR) industry is going through some pretty wild transformations, and it’s not just about creating buzz anymore. According to the ICCO World PR Report 2024-2025, a wave of changes…
The conference represents a pivotal step in mobilizing the billions needed annually to support Africa’s smallholder farmers, who make up some 80% of the continent’s farming population but control less than 5%…
As Uganda readies itself for the monumental shift in its power distribution sector, the clock is ticking toward April 1, 2025, when Umeme’s long-standing monopoly will come to an end. The transition…
To streamline Uganda’s mortgage financing sector, the Central Bank has tabled before Parliament a Bill that seeks to protect borrowers’ properties from being attached. The Mortgage Refinancing Institutions Bill 2025, which was…
As the world continues to commemorate Women’s Month this March, MTN Uganda’s General Manager of the Enterprise Business Unit, Ibrahim Senyonga, paid a courtesy visit to the Chief Executive of Stanbic Business…
AFC’s diverse membership spans all regions of Africa, reinforcing its role as a leading infrastructure solutions provider for Africa Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has welcomed the…
The Kagera Water Project is nearing completion, with National Water and Sewerage Corporation (NWSC) Managing Director Dr. Eng. Silver Mugisha emphasizing the need for patriotism and collaboration to ensure timely completion by…
The list of schools that qualified to participate in the 10th Anniversary of the Stanbic Bank National Schools Championship has finally been released. The participating schools were announced on Monday during the official…
The African Development Bank (ADB), under the leadership of its outgoing President Akinwumi Adesina, is playing a pivotal role in driving economic growth in various African countries, including Uganda. In recognition of…
The Ugandan government’s recent allocation of an additional Shs 115 billion to Atiak Sugar Factory has raised eyebrows among citizens, with many questioning whether the investment reflects value for money. This new…
IATF is a platform for boosting trade and investment in Africa and aims to tap into opportunities from AfCFTA’s single market of over 1.4 billion people and a GDP of over US$3.5…
Earning Guarantor of the Year, the Market Innovation Award, and African Deal of the Year reaffirms AFC’s expertise in attracting global capital to African markets Africa Finance Corporation (AFC), the continent’s leading…
The discovery of oil and gas reserves in Uganda has sparked a wave of excitement and investment in the country’s energy sector. As the sector continues to grow, it is rapidly developing…
In a strategic move to expand its market share, Nile Breweries Uganda Limited has endorsed a distribution agreement with Red Bull and Charms, becoming the official distributor of Red Bull products in…
The Bank of Uganda, headed by Governor Dr. Michael Atingi-Ego, is taking a significant step towards promoting environmental sustainability by drafting a policy framework that will regulate the impact of banking institutions…
Africa’s Largest Tech & Startup Show Expands, Introducing Industry-Defining Innovations, Global Exhibitors, and Cutting-Edge Digital Initiatives Under the High Patronage of His Majesty King Mohammed VI, May God Assist Him, the Ministry of…
The East African Development Bank (EADB) has embarked on a search for a new Director General, following the departure of Ms. Vivienne Yeda. As the search continues, Mr. Bernard Paul Mono has…
The government of Uganda has allocated Shs60 billion towards the completion and operationalization of the Coffee Value Addition Plant in Ntungamo District. The Coffee Value Addition Plant, being overseen by Nelson Tugume,…
The Bank of Uganda (BOU) is set to introduce sweeping changes to Uganda’s mortgage finance sector with the upcoming Mortgage Refinance Institutions Bill, 2025. Once passed into law, this bill will empower…
Uganda’s Minister for Energy and Mineral Development, Ruth Nankabirwa, has emphasized the need for a sustainable mineral development policy to optimize the country’s natural resources. This call to action comes as Uganda…
Uganda Airlines Limited has strengthened its partnership with the UN Regional Service Centre Entebbe (RSCE) through the signing of a Master Travel Discount Agreement. This collaboration, which was signed by Mr. Paulin…
The Parliament of Uganda on Wednesday approved an additional payment of Shs298 billion to Enrica Pinetti for the construction of Lubowa International Specialized Hospital, bringing the total amount of funds sunk into…
The government of Uganda has set aside Shs. 166.5 billion in a supplementary budget to support the construction of the East African Crude Oil Pipeline (EACOP). This significant allocation aims to accelerate…
In a significant move towards promoting clean energy, Uganda’s Minister of Energy and Mineral Development, Hon. Ruth Nankabirwa, launched the country’s first electronic vehicle (EV) charging station. Nankabirwa said during the launch…
The government of Uganda has secured a significant €85 million (approximately Shs 340 billion) development loan from France, aimed at enhancing water infrastructure and urban development in the Greater Kampala Metropolitan Area…
I’m An Agripreneur: How Aturinda Has Become a Beacon of Hope In Agribusiness With Nouri-Mix Porridge
In the heart of Uganda, a remarkable entrepreneur, Aturinda Catherine, is revolutionizing the agribusiness sector. As a passionate agricultural researcher and clinical nutritionist, Aturinda is dedicated to feeding Ugandans nutritious food while…
MTN Uganda, the country’s leading telecom and technology company, is proud to launch the second phase of its dynamic brand campaign “Together We’re Unstoppable”. Building on the success of its first phase,…
The Petroleum Authority of Uganda (PAU) has emphasized the crucial role journalists play in promoting Uganda’s oil and gas sector, urging them to report on the industry with a sense of national…
Malawi’s $30 billion mining potential is attracting global investors, with major deals and projects set to take center stage at African Mining Week 2025 Malawi could generate up to $30 billion from…
Mengo Hospital has partnered with Rotary Kampala South to enhance its Dialysis Unit, aiming to increase accessibility and affordability of life-saving dialysis services. This collaboration was announced during a fundraising breakfast at…
Uganda’s banking sector is on the brink of a transformative moment as Centenary Bank, one of the country’s leading financial institutions, prepares to list up to 10% of its shares on the…
Uganda’s economic growth is poised to receive a significant boost from the oil and gas sector, according to Christopher Legilisho, a Senior Economist at Stanbic Bank. Speaking at the Stanbic Bank Economic…
The world is facing unprecedented challenges in feeding its growing population amidst rising temperatures, unpredictable weather patterns, and declining soil fertility. However, according to Jean Claude Niyomugabo, a researcher with Agribusiness Community,…
Kampala, Uganda – The Stanbic Economic Insights Symposium 2025 wasn’t just another gathering of policymakers and economists. It was a reality check. And when Adam Mugume, Executive Director at Bank of Uganda,…
The collaboration with SABA aligns with the company’s vision of championing Africa’s narratives, amplifying Africa’s voices, and bridging Africa and the world The Scottish Africa Business Association (SABA), a membership organisation seeking…
As hospitals across Uganda struggle with severe shortages of essential medicines, a report by the Auditor General has revealed a shocking case of mismanagement at the National Medical Stores (NMS), where expired…
The Stanbic Bank Economic Insights Symposium, held at the Serena Hotel in Kampala today, has shed light on Uganda’s economic performance, highlighting the significant role of gold and coffee exports in driving…
The state Minister for Minerals, Hon. Phiona Nyamutoro, joined Inspire Africa Coffee during the weekend to launch the first ever Coffee Marathon in Uganda. The Coffee Marathon, which is set to happen on May…
Kaspersky’s Threat Research and AI Technology Research have jointly identified a sophisticated deception campaign exploiting the rapid growth and public interest surrounding DeepSeek AI Security researchers at Kaspersky have revealed how cybercriminals…
AFC’s delegation, alongside key partners, participated in the ceremonial Market Close, culminating in the presentation of a commemorative glass tablet and the signing of the LSE’s Welcome Book Africa Finance Corporation (AFC),…
Uganda’s Oil and Gas sector is gaining momentum, with the Tilenga Project in the Albertine Rift being a prime example. The latest updates indicate that currently over 110 wells have been drilled,…
MTN Uganda, through its Corporate Social Responsibility arm, the MTN Foundation, is proud to support the Hands of Hope Uganda, a non-governmental organization dedicated to empowering vulnerable young women—survivors of gender-based violence,…
With just one day left to the Stanbic Bank Economic Insights Symposium slated for March 11, 2025, experts at the Bank have unveiled game-changing customer care practices for all business owners in Uganda.…
Over the past four years, Afreximbank has approved over $813 million in financing for Uganda’s public and private sectors, with a pipeline in exceeding US$ 1 billion in pending approvals The quest…
This five-year bond provides an attractive annual interest rate of 6.5% with a two-year capital repayment grace period Ecobank Côte d’Ivoire, a subsidiary of Ecobank Transnational Incorporated, the leading Pan African Bank,…
In Uganda’s agricultural sector, a quiet revolution is underway, driven by the passion and dedication of Catherine Aturinda, a clinical researcher, nutritionist and agricultural enthusiast. As a nutritionist and founder of Nouri-Mix…
In a bold step towards bridging the digital divide, MTN Uganda has provided ICT equipment worth UGX 20 million to the 40 Days Over 40 Smiles Foundation. This donation will boost digital…
The partnership focuses on building essential cybersecurity skills via training programs, including those offered by the Kaspersky Academy In a move to enhance digital security on the African continent, Kaspersky has signed…
Uganda’s oil and gas sector is at a critical juncture, with significant investments pouring in and production expected to commence soon. However, as emphasized by Ms. Lynda Biribonwa, Chairperson of the Board…
MTN Uganda is not just a technology company; we are building the infrastructure for Uganda’s digital future while ensuring our business contributes meaningfully to communities and the environment MTN Uganda has reported…
With this launch, businesses and individuals can benefit from faster, more cost-effective, and secure payments without relying on correspondent banks or third-party currencies The Pan-African Payment and Settlement System (PAPSS), launched by…
The National Renewable Energy Platform (NREP) has launched a nationwide clean cooking initiative to accelerate the transition to green energy and minimize Uganda’s reliance on charcoal and firewood for cooking. Through intense…
With March 31, 2025 fast approaching, the UGX 700 billion buyout of Umeme Limited is shaping up to be one of Uganda’s biggest corporate transitions in recent history. As the government finalizes…
Uganda Airlines, the national carrier, has announced plans to launch flights to Gatwick Airport in London, UK. However, the airline’s financial health raises concerns about its readiness for this ambitious venture. According…
For 2025, growth is projected to recover to 3.0 percent as social conditions normalize and economic activity picks up, especially in services An International Monetary Fund (IMF) team, led by Mr. Pablo…
As the world grapples with the challenges of climate change, energy security, and sustainable development, the role of petroleum resources in the energy mix has become increasingly important. That is the overriding…
The Trade and Development Bank Group (TDB Group) has achieved a significant milestone by securing accreditation from the Green Climate Fund (GCF), positioning itself as a key financial catalyst for climate action…
The communal spirit of the Maasai is reflected in the hotel’s design, with shared spaces like outdoor dining areas and a central bonfire encouraging interaction and connection Tribute Portfolio – part of…
Partnerships are vital in the development of Uganda’s oil and gas sector. This was highlighted by the Minister for Energy and Mineral Development, Ruth Nankabirwa, at the 11th East African Petroleum Conference…
The government of Uganda has, through the Ministry of Energy and Mineral Development, resolved to revive the production of copper at Kilembe mines in Kasese District. This signing of the Mineral…
As Uganda moves towards full control of its electricity distribution, the government has strategically turned to Stanbic Bank Uganda, the country’s leading financial institution, for a crucial loan of Shs700 billion to…
The Bank Group’s mission to Congo explored new funding opportunities for key sectors, including energy, digital infrastructure, and roads Talks held by the African Development Bank Group in the Republic of Congo…
For nearly two decades, Umeme Limited has been the face of electricity distribution in Uganda, playing a pivotal role in power access, infrastructure investment, and stock market dominance. However, as the company’s…
With this expansion, individual entrepreneurs – including those in the formal and informal sectors – can now fully benefit from its enhanced financial and non-financial solutions To bridge the gender financing gap…
Key findings Operating conditions for Ugandan private sector firms improved in February, following a brief decline at the start of the year sending the headline Stanbic Purchasing Managers’ Index (PMI) up to…
Uganda’s financial ecosystem is at a turning point. MTN MoMo and Airtel Money, two of the country’s largest mobile money providers—are locked in a high-stakes battle for digital payment dominance. Both companies…
The African Development Bank (AfDB) has been instrumental in fueling socio-economic development in Uganda through its strategic partnerships with local financial institutions, such as the Uganda Development Bank (UDB). The UDB has…
In a bid to promote sustainable development and reduce reliance on fossil fuels, Housing Finance Bank and the Uganda Energy Credit Capitalisation Company (UECCC) have launched a renewable energy loan program for…
African Development Bank leaders champion climate finance and just transition The fifth edition of the Finance in Common Summit (FiCS) concluded on Friday in Cape Town, South Africa, with strong calls for…
Mumba Kenneth Kalifungwa has officially assumed the role of Chief Executive at Stanbic Bank Uganda, the nation’s largest lender by assets, revenue, and deposits. His appointment was first announced in December of…
After a successful tenure as Chief Executive Officer of Absa Bank, Mumba Kenneth Kalifungwa has bid farewell to the institution, paving the way for his new role as CEO of Stanbic Bank…
In a significant move to enhance Uganda’s agricultural sector, the Uganda National Bureau of Standards (UNBS) has signed a USD 1.5 million (over Shs5.5 billion) partnership agreement with Trade Mark Africa. This…
The Congo Energy & Investment Forum taking place in Brazzaville next month will feature Gianmaria Pozzoli, Director General of state-owned Centrale Électrique du Congo, as a speaker With maintenance nearing completion on…
As the backbone of Uganda’s economy, small businesses play a vital role in driving growth and development. However, navigating the complexities of running a small business can be daunting, and many entrepreneurs…
Christopher Ek, Director of Decarbonization Services at Wärtsilä Energy, will speak at the Invest in African Energy Forum in Paris, as the company plays a key role in Africa’s energy transition and…
After five years of exceptional leadership, Melkamu Abebe is bidding farewell to Coca-Cola Beverages Africa, Uganda, leaving behind a legacy of remarkable growth and success. During his tenure as Managing Director, the…
Okere City in Otuke District, North Eastern Uganda, is home to several hundred young girls and boys who face a major challenge that hinders their educational aspirations. Ageno Rwot Flavia, a 13-year-old…
In a groundbreaking move, Diamond Trust Bank (DTB) has announced a strategic partnership with MTN Uganda, endorsing the newly launched MTN MOMO Virtual Card as a game-changer in business operations in Uganda.…
Small and Medium Enterprises (SMEs) form the backbone of Africa’s economy, driving employment, innovation, and economic transformation. However, their growth is often hindered by financial constraints, limited access to markets, and operational…
In a groundbreaking partnership, Uganda Airlines and Absa Bank have teamed up to support the education and empowerment of the girl child in Uganda. The collaboration is centered around the 3rd Absa…
The Petroleum Authority of Uganda (PAU) has revealed the detailed commercial structure of the East African Crude Oil Pipeline (EACOP), a joint project between Uganda and Tanzania. This breakdown aims to provide…
Ugandan farmers have long struggled with the adverse effects of climate change, which have severely impacted agricultural productivity. However, Dr. Clare Mukankusi, a renowned researcher in improved seeds, is breaking new ground…
The agreement paves the way for support from the Islamic Development Bank to finance the second section of the 205-kilometer Mayo-Singako-Am Timan at an estimated cost of $275.5 million The African Development…
Afreximbank will finance the development and operationalisation of industrial parks (IPs) and special economic zones (SEZs) to bolster the country’s industrialisation and export manufacturing In a groundbreaking move that will redefine Kenya’s…
As Ugandan farmers battle prolonged drought and delayed wet seasons, experts emphasize that sustainable agriculture is the only lasting solution to climate change. Uganda, like many African countries, is increasingly experiencing drought…
Discussions centered on innovative strategies for mobilizing African capital, strengthening financial institutions, and leveraging the role of African Multilateral Financial Institutions (AMFIs) in financing critical development sectors On the sidelines of the…
Uganda is poised to undergo a significant economic boost with the impending oil production, courtesy of revenues from the Oil and Gas sector, according to the Petroleum Authority of Uganda (PAU), which…
The Stanbic Bank Economic Insights Forum, a premier event for business leaders, investors, and policymakers, is set to take place on Tuesday, March 11, 2025, in Kampala. This year’s forum will be…
This landmark initiative will accelerate climate adaptation and sustainable infrastructure across Africa The European Investment Bank (EIB) has committed to join Africa Finance Corporation (AFC) in financing a $750 million Infrastructure Climate…
Amatheon Agri Uganda Ltd. (AAU), a subsidiary of the Euronext-listed Amatheon Agri Holding N.V., has successfully restructured its EUR 20,000,000 convertible bonds and converted EUR 18.66 million in shareholder loans into equity,…
A Major Move in Uganda’s Fintech Space MTN Group Fintech has announced a strategic partnership with Network International as its official payment processor and issuing partner. This collaboration marks a significant step…
Diageo, a global leader in the beverage industry, has announced significant changes to its leadership team. Hina Nagarajan, the current Managing Director and CEO of USL, will take on the role of…
Airtel Uganda’s recent announcement of a record-breaking interim dividend of Shs100 billion for the quarter ending December 31, 2024, has set new benchmarks for shareholder returns while sending ripples across Uganda’s competitive…
In today’s fast-paced business landscape, having a solid financial foundation is crucial for achieving long-term success. According to Lilian Katiso, Managing Director of Zaddock Associates, a well-planned financial strategy serves as the…
Gil Holzman, President & CEO, Eco Atlantic Oil & Gas, will speak at the Invest in African Energy Forum 2025 in Paris, following the company’s recent expansion in the Orange Basin and…
In a bold move to mitigate the devastating effects of climate change, Uganda Breweries Limited (UBL) has demonstrated its unwavering commitment to environmental sustainability. Through innovative energy solutions and reforestation initiatives, UBL…
In a historic move, President Paul Kagame has appointed Dr. Soraya M. Hakuziyaremye as the first female governor of the National Bank of Rwanda (BNR), effective February 25, 2025. This appointment is…
In a significant milestone for conservation efforts in Tanzania, EACOP Limited has signed a Memorandum of Understanding (MoU) with the Tanzania Wildlife Authority (TAWA) to protect the country’s wildlife in project-affected areas.…
The social bond investment promotes inclusive economic development, particularly for SMMEs with a turnover below R300 million and loan sizes under R40 million The African Development Bank Group and Standard Bank Group…
In a country where poverty and unemployment remain significant challenges, innovative entrepreneurs like Angella Babirye are leading the charge in unlocking the economic potential of Uganda’s natural resources. Babirye, the proprietor of…
The planned projects will mark the debut of The Ritz-Carlton in the luxury safari market and the opening of the second JW Marriott safari camp in Kenya Marriott International, Inc. today unveiled…
The Petroleum Authority of Uganda (PAU), under the leadership of Mr. Ernest Rubondo, has moved to calm concerns about the potential dangers of the East African Crude Oil Pipeline (EACOP) to Uganda’s…
In a move set to shake up the insurance industry in Uganda, Aidah Nkwanzi has taken the reins as the new Chief Executive Officer of Britam Life Assurance. A seasoned insurance expert…
Applications are open for schools to compete in the 10th season of the Stanbic National Schools championship (NSC) and the stakes are high on who will win the youth entrepreneurship gong as…
A recent Memorandum of Understanding (MoU) signed between EACOP Limited and the Government of Tanzania is set to bolster the oil and gas sector in Uganda. The agreement, facilitated through the Ministry…
As Chair, Zubairu will drive collaborative growth by strengthening partnerships among member institutions, African governments, and global agencies to build a robust financial architecture The Alliance of African Multilateral Financial Institutions (AAMFI),…
A Leader Bridging Tradition and Economic Transformation For over a decade, Charles Peter Mayiga, the Katikkiro (Prime Minister) of Buganda, has redefined what it means to be a custodian of both culture…
In a move aimed at boosting economic development in South Sudan, the African Development Fund (ADF) has approved a grant of USD 153.66 million (over Shs562 billion) for the Uganda-South Sudan power…
British American Tobacco Uganda Limited (BATU) has announced significant changes to its Board of Directors, effective 1 March 2025. The changes include the appointment of a new Managing Director, the addition of…
Uganda is one of the countries that are most vulnerable to climate change in Africa. Rising temperatures, changing rainfall patterns, and increased frequency of extreme weather events are all taking a toll…
The Petroleum Authority of Uganda (PAU) has reaffirmed its commitment to improving the livelihoods of project-affected Ugandans through agriculture. During a quarterly engagement meeting with Non-Governmental Organizations (NGOs) and private sector players…
Afreximbank Advocates for Increased Local Participation in Guyana’s Oil Value Chain In a landmark announcement at the Guyana Energy Conference and Supply Chain Expo, Prof. Benedict Oramah, President and Chairman of the…
With the Easter holiday season just around the corner, businesses in Uganda are gearing up to capitalize on the increased consumer spending. Financial experts at Stanbic Bank have shared valuable insights on…
The new Sunflower Processing Unit in the eastern district of Uvinza will give a business boost to 21,000 people A new sunflower processing unit in Tanzania’s eastern Uvinza district is transforming the…
The Uganda Electricity Generation Company Limited (UEGCL) has reaffirmed its commitment to supporting the country’s development agenda, as outlined in the National Development Plan (NDP) III (2020/21-2024/25) and the upcoming NDP IV…
Uganda’s economy is poised for a significant boost, thanks to the vast potential of castor oil production. With its high market demand, profitability, and versatility, castor oil is an attractive crop for…
According to Interpol’s 2024 Global Financial Fraud Assessment, business email compromise, romance baiting, phishing, and other online frauds pose growing threats to Africa’s digitalized economy The African Development Bank Group has taken…
The recent rejection by the Ugandan parliament of a request to exempt businessman Donati Kananura from paying taxes worth Shs2,696,768,814 on grounds that he is battling diabetes and prostate enlargement has sparked…
Following Saudi Arabia’s latest energy efficiency cooperation agreement with Egypt, the African Energy Week: Invest in African Energies 2025 conference will provide a vital platform to accelerate partnerships and secure new deals…
The launch of the Uganda Business Process Outsourcing (BPO) campaign is poised to revolutionize the business environment in Uganda. While launching the campaign at Mestil Hotel in Kampala on Thursday, Chris Baryomunsi,…
The exemptions, granted under Section 40(1) of the Tax Procedures Code Act, 2014 were based on financial hardships and the strategic importance of the entities to economic development Parliament has approved tax…
The commissioning of Piston Medical, a state-of-the-art pharmaceutical factory located in Namanve Industrial Park, marks a significant milestone for Uganda’s healthcare and industrial sectors. With the capacity to produce 16 life-saving medical…
As a key G20 member, Brazil is deepening its energy cooperation with African nations through strategic investments, partnerships and knowledge exchange, with this year’s African Energy Week: Invest in African Energies conference…
Uganda’s livestock industry has been plagued by the recurring outbreaks of Foot and Mouth Disease (FMD), resulting in significant economic losses for farmers and the government. To combat this, the government has…
The discovery of oil and gas in Uganda has opened up new opportunities for economic growth and development, with local companies winning contracts worth over Shs748 billion in the last quarter. As…
The advent of electronic banking has revolutionized the way people conduct financial transactions. However, according to business analysts at the Publicisteastafrica.com this convenience has also introduced new risks, particularly in the form…
Airtel Uganda Limited has announced its financial results for the year ended 31st December 2024, showcasing a resilient performance driven by sustained growth in its customer base, data services, and strategic investments…
The Isimba Dam, a Shs2.2 trillion (USD 570 million) project commissioned by President Yoweri Kaguta Museveni in 2019, is on the verge of collapse due to severe damage. This dire situation has…
In a significant milestone for ethical finance, Centenary Bank, Uganda’s leading microfinance institution, has announced that it will host the 17th Annual General Meeting (AGM) of the Global Alliance for Banking on…
As the world grapples with the devastating effects of climate change, Uganda Breweries Limited (UBL) is taking proactive steps to mitigate its impact on local communities. Through its Water for Life Programme,…
Uganda’s oil and gas sector is ripe for investment, with several projects underway that promise significant returns. The Uganda National Oil Company (UNOC) has been actively courting investors, showcasing the country’s favorable…
The presentation reported that 39 African countries have improved their scores since 2016, indicating that visa openness across Africa is at its highest level since the inception of the index On the…
As a poultry farmer, selling raw eggs may seem like the easiest and most straightforward way to earn a profit. However, experts reveal that adding value to eggs can double, or even…
Nike and SKIMS Launch New Brand, NikeSKIMS, Designed to Sculpt; Engineered to Perform Nike, Inc. (NYSE: NKE) and SKIMS are teaming up to disrupt the global fitness and activewear industry with the launch…
The Uganda Tourism Board‘s (UTB) decision to crack down on substandard hotels, lodges, and other accommodation facilities is a bold move to boost Uganda’s tourism sector. Tourism is a significant contributor to…
Today, Publicist East Africa proudly profiles Ms. Nwanne Vwede-Obahor, a true inspiration to women across the globe. As the UNDP Resident Representative for Uganda, Ms. Vwede-Obahor leads and directs UNDP’s efforts to…
Uganda’s government is seeking a massive loan to finance the buyout of Umeme Limited, the country’s main electricity distributor, as its 20-year concession comes to an end on March 31, 2025. The…
Taking place March 13, 2025, the Invest in African Energies investor forum will explore new opportunities for Chinese companies in Africa The upcoming Invest in African Energies investor forum in Shanghai on…
Housing Finance Bank (HFB) has strengthened its commitment to promoting the creation and consumption of renewable energy in Uganda, as the country grapples with the devastating effects of climate change. To achieve…
Dr. Hillary Emmanuel Musoke, the newly appointed Senior Presidential Advisor on Agribusiness, is poised to revolutionize Uganda’s agricultural sector. With his wealth of experience, Dr. Musoke is expected to tackle several key…
The Uganda Revenue Authority (URA) has joined forces with Kenya’s tax body, Kenya Revenue Authority (KRA), to combat cross-border smuggling. This strategic partnership aims to curb illicit trade and tax evasion, promoting…
Dr. Akinwumi A. Adesina, President of the African Development Bank Group (AfDB), delivered a powerful farewell address to African Heads of State and Government at the 38th African Union Summit, marking the…
The Petroleum Authority of Uganda (PAU) is playing a vital role in championing job creation and boosting economic development in the country. Under the leadership of Executive Director Ernest Rubondo, PAU has…
In an interview with Energy Capital & Power, Imperatus Energy CEO Oumar Semega outlined strategies for supply chains and infrastructure development in the Republic of Congo As the Republic of Congo sets…
Uganda is poised to take center stage in global water and sanitation discussions as it prepares to host the 22nd African Water and Sanitation Association (AfWASA) International Congress & Exhibition from February…
The Global Fund is the largest source of funding for malaria, providing 62% of all international financing for malaria programmes Against the backdrop of the 2024 Africa Malaria Progress Report, which reveals…
Uganda’s oil and gas sector is on the cusp of a transformative era, with steady progress toward achieving the country’s national content agenda by 2040. The Petroleum Authority of Uganda, headed by…
The upcoming launch of the South African National Petroleum Company reflects a broader trend across Africa, where nations are restructuring their state-owned energy enterprises to attract investment, improve efficiency and enhance energy…
Uganda’s financial sector is grappling with a myriad of challenges, including rampant fraud, cybersecurity threats, health crises, and geopolitical instability. The latest case of fraud in the banking sector is the theft…
Cancer has swiftly become one of the leading causes of death in Uganda, with over 35,000 new cases reported annually. In a country where healthcare systems are stretched thin and treatment options…
As the business landscape continues to evolve, staying ahead of the curve is crucial for success. The Stanbic Economic Insights Symposium, scheduled for March 11, 2025, at Kampala Serena Hotel, offers a…
Following his recent confirmation as the Governor of the Bank of Uganda, Dr. Michael Atingi-Ego steps into one of the most influential economic roles in the country at a time when Uganda’s…
Airtel Uganda, fresh off its landmark IPO in 2023, is undergoing a significant leadership overhaul that has sparked both intrigue and concern across the telecom sector. In a bold move, the company…
To date, AFC has secured a total of US$700 million in financing from CEXIM, including a US$300 million facility in 2018 and another US$400 million loan in 2023 Africa Finance Corporation (AFC),…
HHA aims to improve access to timely diagnosis and treatment, reducing the burden of this disease across communities AstraZeneca’s flagship health equity programme – Healthy Heart Africa (HHA), marks its 10th anniversary,…
With Chevron’s latest farm-in offshore Namibia highlighting Africa’s investment appeal, African Energy Week: Invest in African Energies 2025 will explore strategies for structuring attractive PSCs and securing high-impact farm-in agreements in Africa’s…
International Oil Companies highlighted Mozambique as an attractive investment destination during the African Energy Chamber’s Invest in African Energies: Mozambique Roundtable in Maputo on Thursday Global energy major, ExxonMobil has invested over…
Uganda has reached a remarkable milestone in healthcare with the introduction of Mesenchymal Stem Cell Therapy (MSCT). Prof. Elly Karuhanga, a renowned lawyer and founding partner at Kampala Associated Advocates, became the…
As the Republic of Congo prepares to host the Congo Energy & Investment Forum (CEIF) 2025 from March 24-26, 2025, in Brazzaville, the spotlight is on the country’s upcoming Gas Code and its potential to transform the…
The Chairman, United Bank of Africa Group, Tony O. Elumelu, has revealed that of all continents, Africa has the highest Return On Investment (ROI). Elumelu, who was speaking at the World Government…
The Uganda National Oil Company (UNOC) is actively courting investors to partner in the exploration and development of the Kasuruban oil and gas block. Philips Obita, UNOC’s General Manager-Upstream, made the call…
The State of African Energy 2025 Outlook provides an overview of the dynamics of Africa’s involvement in the global LNG sector The global energy marketplace is shifting toward the acceptance of natural…
In a groundbreaking move aimed at revolutionizing workplace dynamics, Roke Telkom, Uganda’s homegrown telecommunications provider, has partnered with THAUT, a cloud-based emotional intelligence (EI) platform, to launch an innovative solution designed to enhance organizational…
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Namibia is on the cusp of a transformative era in its energy sector, with recent oil and gas discoveries positioning the country as a key player in Africa’s energy landscape. To harness…
The Republic of Congo is gearing up to showcase its energy potential and investment opportunities at the inaugural Congo Energy & Investment Forum (CEIF) 2025, scheduled to take place in Brazzaville from March 24-26,…
Uganda’s agricultural sector is poised for a significant turnaround, thanks to the government’s focus on leveraging Agriculture Technology (Agritech). This was revealed by Matia Kasaija, the Minister of Finance, Planning and Economic…
In a move aimed at protecting intellectual property rights, the Uganda Communications Commission (UCC) has banned the broadcast of pirated movies, soaps, and dramas on local TV stations. This decision is expected…
A recent Bloomberg report dated February 10th has revealed that the European Union is set to review its multibillion euro foreign aid program, aiming to align the allocation of funds more closely…
The Permanent Secretary of the Ministry for Information Communication and Technology and National Guidance, Dr. Aminah Zawedde, has urged the new Airtel Uganda Managing Director Soumendra Sahu, to leverage ICT networks to…
In a significant milestone, Safaricom, Kenya’s leading telecommunications provider, has been awarded the title of Most Inclusive Brand by Kantar, a renowned research firm. This prestigious recognition underscores Safaricom’s dedication to embedding…
Reeta Roy, the President and CEO of the Mastercard Foundation, has announced her decision to transition from her role after nearly 18 years of transformative leadership. Roy, who joined the Foundation in…
The agricultural sector in Uganda has been dealt a huge blow with the ongoing winding down process of the Uganda Cocoa and Commodities Limited, which is set to be wound up together…
The rapid advancement of technology is transforming the business landscape, making production, sales, and revenue tracking more efficient than ever. Emmy Hashakimana, Commercial Director at Uganda Breweries Limited (UBL), highlighted the impact…
A landmark investment opportunity is on the horizon for Uganda, as President Yoweri Kaguta Museveni recently met with a delegation of investors from Austria’s EcoNetix, a clean energy company. The discussion centered…
The Government of Uganda, in partnership with Centenary Bank and the Private Sector Foundation Uganda (PSFU), has launched a groundbreaking initiative to empower women entrepreneurs through the GROW project. This project has…
The Board of Directors of the African Development Bank Group has approved over $31 million in funding under its African Climate Action Window (CAW) to strengthen climate resilience in Sierra Leone, South…
In a landmark ruling, the Tax Appeals Tribunal has ordered CFAO Motors, formerly Toyota Uganda, to pay Shs2.08 billion to the Uganda Revenue Authority (URA) in a Value Added Tax (VAT) dispute.…
Let’s reflect about the quote. “When the well is dry. We shall know the worth of water” by Benjamin Franklin. He highlights the value of water and the importance of appreciating it…
TDB Group and Anzana Electric Group (“Anzana”) announce the financial close and first utilization of a portfolio project debt package for two run-of-river hydropower projects in Burundi developed by Songa Energy. This…
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L:R - Dr. Michael Atingi-Ego, Newly Appointed Governor, Bank of Uganda, and Prof. Augustus Nuwagaba, Newly Appointed Deputy Governor, Bank of Uganda. INTERNET PHOTOSIn a significant development for Uganda’s financial sector, President…
Dr. Fabian Kasi, the Managing Director of Centenary Bank, has revealed that the bank has invested over Shs200 billion in Ugandan startups since in the past few years. This significant investment has…
Uganda’s coffee industry has once again proven its power as a major economic engine. In December 2024, the Ministry of Agriculture, Animal Industry, and Fisheries (MAAIF) reported an impressive surge in coffee…
In a move set to revolutionize the financial landscape of Uganda, MTN Mobile Money (MoMo) has introduced Digital Credit, an innovative financial service designed to provide individuals and businesses with convenient, secure,…
In a bid to safeguard the interests of shareholders, the Capital Markets Authority (CMA) of Uganda has introduced stringent regulations regarding the appointment or replacement of Chief Executive Officers (CEOs) in companies…
The Uganda Tourism Board (UTB) announced today that its outgoing Chief Executive Officer, Lilly Ajarova, has been appointed as a Senior Presidential Advisor on Tourism. Ms. Ajarova, a respected figure in the…
Nicholas Opiyo, the founding Executive Director of Chapter Four Uganda, a prominent human rights organization, has stepped down from his leadership role after more than a decade. This marks the conclusion of…
The Government of Uganda has set an ambitious target of expanding the country’s Gross Domestic Product (GDP) from USD 50 billion in FY 2022/23 to USD 500 billion by 2040. This tenfold…
Ugandans are known for their resilience, warmth, and entrepreneurial spirit—qualities that define the Pearl of Africa and its people. It is this deep understanding of Uganda’s dynamic and youthful population that has…
The Bank of Uganda’s Monetary Policy Committee (MPC) decision to maintain the Central Bank Rate (CBR) at 9.75% reflects a delicate balancing act between supporting economic growth and mitigating inflationary risks. While…
The Ministry of Agriculture, Animal Industry, and Fisheries (MAAIF) has dismissed concerns raised by certain individuals and Civil Society Organizations (CSOs) regarding the use of specific pesticides in Uganda. In a statement…
Bank of Kigali Plc announced the appointment of Eugene Ubalijoro as its new Chairman of the Board of Directors, effective February 5, 2025. Mr. Ubalijoro succeeds Rod Michael Reynolds, who is retiring…
Dr. James Musinguzi has been appointed as the new Executive Director of the Uganda Wildlife Authority (UWA), replacing Sam Mwandha, whose two-year contract has ended. His appointment marks a pivotal moment for…
The Bank of Uganda’s Monetary Policy Committee (MPC) today announced its decision to maintain the Central Bank Rate (CBR) at 9.75%. This decision comes amidst rising inflation, primarily driven by an increase…
Sustainable agriculture is improving the livelihoods of millions of Ugandans engaged in crop and animal husbandry. Agnes Mbabazi, CEO of Agrifarm Uganda Limited, has taken this mission personally, striving to revolutionize agriculture…
The race for the presidency of the African Development Bank (AfDB) is heating up, with five candidates vying for the top position. As the election approaches in May 2025, the contest is…
Prof. Benedict Oramah and a high-level Afreximbank delegation met with H.E. William Ruto of Kenya during his state visit to Cairo, Egypt, to strengthen financial cooperation and advance Africa’s economic integration. The…
On Tuesday, officers from the Criminal Investigations Directorate (CID) made a bold move in the fight against abuse of government funds by arresting nine senior officials from the Ministry of Finance. The…
In a significant step to improve financial access for farmers and the local business community, Centenary Bank has officially opened a new branch in Kiboga District. The branch, located on 2nd Street,…
Tullow Oil plc announced today that Richard Miller has been appointed as Interim Chief Executive Officer and Chief Financial Officer, effective February 14, 2025. This follows the departure of Rahul Dhir as…
Antonio Guterres, Secretary-General of the United Nations, has expressed his heartfelt condolences following the passing of His Highness Prince Karim Al-Hussaini Aga Khan IV. The Aga Khan, the 49th hereditary Imam of…
Uganda’s telecom industry is set to undergo a significant transformation in 2025, driven by emerging technologies and evolving customer demands. Speaking during a media roundtable at MTN Uganda headquarters in Kampala, MTN…
Airtel Africa, a leading provider of telecommunications and mobile money services across Africa, has announced strong financial results for the nine months ending December 2024. Mobile services revenue grew by 11.4% to…
Equity Bank Uganda recently celebrated the graduation of its first cohort of Equity Leaders Program (ELP) scholars, who have successfully completed their 3-year University Bachelor’s degree programs. The ELP, an initiative under…
A tragic incident at Entebbe International Airport in the early hours of Thursday has not only shocked the aviation community but has also raised critical questions about the safety and communication protocols…
VAALCO Energy, Inc. today announced a significant milestone in its Côte d’Ivoire Floating Production Storage and Offloading (FPSO) Dry Dock Refurbishment Project. As scheduled, hydrocarbon production from the FPSO Baobab Ivoirien MV10,…
Geoffrey Kihuguru, a distinguished businessman and insurance expert, has been appointed as the new Chairman of the Board of Directors at Uganda Development Bank (UDB). Kihuguru, who serves as the Chief Executive…
The World Bank and the African Development Bank (AfDB) have launched “Mission 300,” a joint initiative aimed at providing electricity access to nearly 300 million Africans over the next five years through…
Telecom giant MTN Uganda has appointed Nigerian finance expert Victor Onyebuchi as the Head of Banking Operations for MoMo, its mobile money platform. MTN MoMo (Mobile Money) is a widely used digital…
In a bid to enable Ugandan business operators to have easier and more affordable access to credit, Stanbic Bank Uganda has reduced its USD Prime Lending Rate (PLR) from 13.5% to 13.0%…
The Netherlands government, through the CommonGround project, is empowering farmers in Bunyangabu and Ntoroko districts in western Uganda to engage in large-scale coffee farming. By providing both financial and technical support, the…
Uganda has retained its position as one of Africa’s top financial markets, securing fourth place in the 2024 Absa Africa Financial Markets Index. The report, released in Kampala on January 28th, highlights…
The Bank of Uganda has appointed Collin Babirukamu as its new Chief Information Officer (CIO). Babirukamu brings a wealth of experience in digital transformation, cybersecurity, and financial technology to this critical role.…
Uganda Baati Limited, a leading provider of innovative building solutions, has entered into a strategic partnership with Crestanks Limited, a manufacturer of safe water tanks and storage solutions. The collaboration aims to…
East African Breweries Limited (EABL) announced a 20% surge in profit after tax to KSh 8.1 billion in the first half of 2024, compared to KSh 6.8 billion in the same period…
The Capital Markets Appeals Tribunal has barred the Capital Markets Authority (CMA) from proceeding with an inquiry into the conduct of eight directors of Imperial Bank during the application of a Ksh…
In light of the recent Executive Order by U.S. President Donald Trump, which affected the distribution of life-saving HIV/AIDS medications globally, the Uganda AIDS Commission (UAC) has reassured Ugandans living with HIV…
SLB, a leading global technology company in energy, announced on Wednesday the opening of its Africa Performance Center in Luanda, Angola. This state-of-the-art facility, spanning 3,200 sqft, will serve as a collaborative…
NCBA Uganda yesterday made a significant stride in its sustainability journey by unveiling its first electric vehicle (EV) charging station at its Head Office in Twed Towers, Nakasero. This move aligns with…
The Ministry of health has issued a public warning to all Ugandans and foreigners in the country about an outbreak of the deadly Sudan Ebola Virus Disease in Uganda, which has killed…
Uganda’s healthcare sector is poised for a major transformation with the unveiling of the Aga Khan University Hospital’s Nakawa Specialty Centre. Located strategically along Old Port Bell Road, this state-of-the-art facility is…
MTN Mobile Money (U) Limited (MTN MoMo) has launched Wesotinge Season 2, aiming to further empower Ugandans through accessible, fast, and convenient financial services. Following the success of Season 1, which saw…
Equity Bank Uganda has announced the appointment of Mr. Gift Shoko as its new Managing Director, subject to regulatory approval. Mr. Shoko succeeds Mr. Anthony Kituuka who has stepped down from the…
As Uganda continues to embrace digital solutions, MTN’s “Pay with MoMo” has positioned itself as a key player in the country’s economic transformation. From reducing costs to supporting financial inclusion and boosting…
As part of its commitment to leading digital solutions for Uganda’s progress, MTN Group Fincommerce, a subsidiary of MTN Fintech Group in partnership with MTN MoMo Uganda and collaborating with Mastercard, has…
MTN Uganda has once again solidified its leadership in the telecom industry with exceptional performance over the first nine months of 2024 under the guidance of CEO Sylvia Mulinge. The company’s achievements…
Sarah Arapta, CEO of Citi Bank Speaking at the recent Women’s Economic Empowerment Forum (#WEEForum2024) in Kampala Women constitute over half of Uganda’s population and represent a powerful, yet underutilized economic force.…
In today’s digital landscape, capturing moments through video or social media posts has become nearly instinctive. This shift towards online expression, whether personal or commercial, underscores the influence of the creator economy,…
Dr. Fabian Kasi, Managing Director of Centenary Bank Uganda, stands out as a transformative leader with a visionary approach and unwavering commitment to financial inclusion. In Uganda’s banking landscape, Dr. Fabian Kasi,…
By Isaac Tugume Uganda is grappling with a deadly enemy—counterfeit products—and Speaker of Parliament Rt. Hon. Anita Among is calling for immediate action. Counterfeit goods are flooding the market, posing grave threats…
After more than a decade of anticipation, Uganda’s Karuma Hydropower Plant has finally been commissioned. Launched in December 2013, the project has navigated numerous hurdles—from technical defects and delays to disagreements between…
Service excellence is a vital pillar for the success of any organization, especially in industries where customer satisfaction and operational efficiency are paramount. In today’s competitive business environment, where companies strive to…
In a landmark move set to revolutionize women’s entrepreneurship in Uganda, the World Bank, through the Private Sector Foundation Uganda (PSFU), has announced an unprecedented grant of USD217 million (over Shs807 billion).…
East Africa is making significant strides in space technology, positioning itself as a burgeoning hub for space-related activities on the African continent. The region’s growing interest in space is not just a…
British American Tobacco Uganda Limited has registered a 21.6% increase in net profit from Shs3.7bn to Shs4.5bn for the first six months of 2024, further showing the company’s continued growth trajectory. The…
MTN Uganda has announced a significant 29.7% increase in net profit to Shs 295.7 billion for the half-year ended June 2024, driven by robust growth in voice, data, and fintech services. The…
After a hiatus of over 30 years, the iconic French automobile brand Peugeot has made a triumphant return to Uganda, bringing a blend of elegance, innovation, and economic promise. The re-launch event,…
MTN Uganda successfully held the inaugural MTN ICT Expo 2024, a landmark event set to revolutionize Uganda’s digital landscape. The Expo, held on the 1st and 2nd of August at the prestigious…
PostBank is on a mission to transform the livelihoods of Ugandan farmers. In a strategic move to boost agricultural exports, the bank has equipped 150 cassava farmers and SMEs in Arua District…
CFAO Mobility Uganda has unveiled the highly anticipated Land Cruiser Prado 250 Series, a pinnacle of luxury and performance. This exclusive model, priced at Sh300 million, represents a significant addition to the…
Financial service providers in Uganda have been urged to embrace technological advancements to stay competitive and improve customer experience. This call to action comes from Michael Mugabi, the Managing Director of Housing…
Uganda Airlines is expanding its wings. The national carrier recently announced the addition of three new routes to its network: Lusaka, Zambia; Abuja, Nigeria; and Harare, Zimbabwe. These exciting destinations will be…
In line with its purpose of fostering prosperity for Ugandans, PostBank Uganda has launched a Self-Onboarding ZeroFlex digital account to enable customers to self-register and have access to financial services anywhere and…
A recent article raised significant concerns about the environmental and social impacts of Total Energies’ $10-billion Tilenga project in western Uganda. The project, which involves drilling more than 400 oil wells, many…
Bamburi Cement Limited (NSE: BAMB) witnessed a significant increase in its share price on Thursday, July 11th, 2024. The company’s stock closed at KShs. 57.75 per share, reflecting a remarkable 28.3% surge…
Coca-Cola Beverages is reaping from setting up Africa’s fastest plastic bottle production line in its East Africa operations. It has a capacity of 67,000 bottles per hour and equipped with state-of-the-art technology…
The National Social Security Fund (NSSF) of Uganda has reported significant returns on its investment in MTN Uganda, the country’s largest telecom operator. According to a recent press release, NSSF has earned…
PostBank Uganda Limited has appointed Ibrahim Kato as its new Chief Retail Officer. With over 15 years of experience in the banking sector, Kato brings a wealth of knowledge and expertise to…
Coca-Cola Beverages Africa has appointed Josphat Mwangi to the position of General Manager for its subsidiary, Coca-Cola Beverages Zambia. Confirming the company’s commitment to developing leadership internally, Mwangi joins the Zambian team…
A network of Official Coca-Cola Distributors (OCCDs) is helping to ensure that Coca-Cola products reach Ugandans efficiently in every corner of the country. As a Fast Moving Consumer Goods manufacturer, Coca-Cola Beverages…
Stanbic Uganda Holdings Limited has announced the launch of its Stanbic Unit Trust, strategically entering the nation’s burgeoning Collective Investment Scheme (CIS) market. This move leverages SUHL’s established client base and aligns…
Absa Group Ltd, one of the largest diversified financial service providers in Africa, has concluded further agreements with the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, freeing…
Jubilee Life, a leading insurance provider in Uganda, today announced the launch of its innovative Jubilee Smart Save Plan. This new plan aims to empower Ugandans to prioritize long-term financial security by…
In a significant gesture of strengthening ties and fostering collaborative efforts, the King of Tooro, His Majesty Oyo Nyimba Kabamba Iguru Rukidi IV, made his maiden courtesy visit to the MTN Uganda…
The seventh annual bankers’ conference, hosted by the Uganda Bankers Association (UBA) on June 19th at the Kampala Serena Hotel, buzzed with discussions on Environmental Social and Governance (ESG) issues, reflecting a…
Ugandan building materials producer Uganda Clays Limited (UCL) encountered a revenue decline in its recently concluded five-year strategic plan. UCL’s 2023 revenue dipped to Shs 30.1 billion ($8.4 million) from Shs 36.6…
The Minister of Gender, Labour and Social Development has appointed Mr. Gerald Paul Kasaato as the substantive Deputy Managing Director of the National Social Security Fund (NSSF), Uganda. His appointment follows a…
Leading multi-category app, Glovo has successfully concluded its highly anticipated 3-Day Courier Program, a series of events focused on the growth, development, and recognition of its couriers. The initiative, themed ‘Courier Day’…
Following the outstanding success of the initial phase of its youth empowerment flagship initiative, MTN Uganda’s corporate social responsibility arm, MTN Foundation, has launched the second phase of the MTN ACE program…
MTN Uganda’s sale of shares left over from its 2021 Initial Public Offering was oversubscribed by almost 100%, the telecom executives said on June 13. The company received applications for 3 billion…
RwandAir Cargo is launching new services to Dubai and Djibouti, both operated by its dedicated freighter B738SF. The expansion is part of the airline’s mission to connect Africa and the world, it…
The Bank of Uganda (BoU) took decisive action on June 18, 2024, revoking the license of Mercantile Credit Bank Limited. This move places the bank under liquidation, effectively shutting down its operations.…
MTN Uganda, along with its partners, last Friday, marked a significant extension of support to Ariwa Secondary School in Yumbe District, West Nile region, as part of the “30 Days of Y’ello…
FlexiPay, Stanbic Bank’s digital payment platform, has partnered with International Fund for Agricultural Development (IFAD) and Upesi Money Transfer, a regional payments company, to enable FlexiPay users to send, receive money from…
On the 13th June 2024, MTN Uganda announced the successful completion of its secondary market share offer, which garnered an exceptional 230% subscription rate. This robust response signifies strong investor confidence in…
DHL Global Forwarding’s digital road freight platform Saloodo! has announced that it will be the first logistics company to introduce the UAE’s first electric Mercedes-Benz truck. The fully electric 40-ton eActros 300…
Ecobank, the pan-African financial services Group, officially opens call for applications to the 7th edition of its Fintech Challenge. This annual competition invites early-stage and mature fintech startups to partner with Ecobank,…
As the world recognizes World Environment Day on June 5th, The Coca-Cola Beverages Africa (CCBA) reaffirms its commitment to building a more sustainable future. Coca-Cola acknowledges the importance of environmental responsibility and…
Three years ago, MTN Uganda embarked on an ambitious project to restore 220 hectares of forest cover. This initiative, part of the larger “Uganda is Home” campaign, celebrated the symbiotic relationship between…
The Capital Market Authority (CMA) is pleased to announce the appointment of Mr. Thapelo Tsheole as the new Chief Executive Officer. With a distinguished career spanning over 24 years in the financial…
In a bid to encourage timely loan repayments and responsible financial behavior, NCBA Bank Uganda and MTN MoMo have partnered to launch the “Mo Cash with Mokash” campaign. The eight-week campaign, which…
KCB Group CEO Paul Russo has been named the African Business Leader of the Year by Africa Leadership Magazine. Russo’s selection followed rigorous and competitive competition on the African continent, with leadership…
Monday 27th May 2024. Kampala, Uganda: SBG Securities Uganda Limited (a wholly owned subsidiary of Stanbic Uganda Holdings Limited), in its capacity as the lead sponsoring broker, on behalf of MTN Uganda…
The International Finance Corporation (IFC) has projected that Africa will need to double its annual expenditure to $6 billion in order to expand its digital infrastructure and bridge the connectivity gap between…
Telecom firm MTN Uganda plans to sell shares left over from its deeply undersubscribed 2021 Initial Public Offering to local investors to expand local ownership and comply with regulatory requirements, it said…
Highlights: Johannesburg, South Africa – May 24, 2024 – Despite 64% of Africans expressing confidence in the continent, they remain loyal to non-African brands, which have retained their lowly 14% of the…
The Ugandan government is banking on its comprehensive Business Process Outsourcing (BPO) and Information Technology Outsourcing (ITO) strategy to create 100,000 direct jobs by 2030. This ambitious plan aims to tackle the…
French oil company, TotalEnergies EP Uganda has reaffirmed its commitment to creating more opportunities for young people in Uganda to continue making meaningful contributions in their communities. The commitment was made during the…
Early this year, Stanbic Uganda Holdings, the parent company of Stanbic Bank Uganda, announced a profit of over Sh400 billion after tax. This was attributed to the bank’s innovative lending initiatives. In…
dfcu Limited is celebrating 60 years of operation and impactful service towards fulfilling its purpose of ‘Transforming Lives and Businesses in Uganda’. dfcu was established in 1964 as a development finance institution and since then,…
The Diamond Trust Bank has bid farewell to its former Managing Director, Varghese Thambi, marking the end of his 17-year tenure with the bank. Thambi, who joined DTB in 2007, was hailed…
Uganda Development Bank (UDB) and its partners have today organized a blood donation drive to bolster the much-needed blood bank at Mengo Hospital. Mengo Hospital and Minet are the technical partners in…
Baileys, the renowned Original Irish Cream Liqueur, is breaking new ground with an exciting trial of its revolutionary paper-based bottle. In partnership with PA Consulting, Baileys is introducing a Dry Molded Fiber…
Only one Kenyan fintech startup has made it through into the second cohort of Visa’s Africa Fintech Accelerator program. Out of the possible 20 only CheckUps Medical Hub, an Embedded health Kenyan startup, made…
IFC, a member of the World Bank Group, and Absa Group Limited, a South African-based bank, will provide an up to US$60 million commodity trade finance facility to Volcafe, a leading global…
NMB Bank PLC, Tanzania’s leading financial institution, has listed its maiden three-year US$ 73 million Sustainability Bond on the International Securities Market (ISM) and Sustainable Bond Market (SBM) Platform at the London…
The Fintech Association of Kenya (FINTAK) has appointed Dr. Juliet Ongwae as a Board Director, effective May 20, 2024. Dr. Juliet currently serves as the Senior SupTech Specialist at the Cambridge SupTech…
The United Bank of Africa (UBA) has pledged to set the benchmark for African businesses by forging a united Africa, as it continues on its march towards connecting its customers to the…
Spiro, the largest electric vehicle company in Africa, is charging ahead in its mission to revolutionise sustainable transportation across the continent and it recently signed a heads of terms agreement for a…
The African Export-Import Bank (Afreximbank) and MobiHealthCare Limited (MobiHealth) have signed a project preparation facility agreement that is expected to bolster the expansion of Mobihealth’s telemedicine services in Nigeria, and also assess…
The Uganda Tourism Board (UTB) has announced a comprehensive initiative to register and license all tourism enterprises in the country, aiming to identify and eliminate illegal operators. This move targets all unlicensed…
A Trailblazer in Banking: Ms. Grace Muliisa In the dynamic world of finance, Ms. Grace Muliisa stands out as a transformative leader who has reshaped the banking landscape in Uganda. With a…
Controversy has arisen over the appointment of Eng James Kwesiga Nkamwesiga as Executive Director, of Uganda National Bureau of Standards (UNBS) announced last week. UNBS announced Nkamwesiga successful candidate from the selection…
Liberty Life Assurance Uganda has introduced the Kuza Plan, a revolutionary financial product merging savings with life and disability insurance. Positioned as a beacon of security and adaptability, officials said at the…
The Minister of Trade, Industry, and Cooperatives, Francis Mwebesa, has appointed Eng James Nkamwesiga Kasigwa as the fifth Executive Director of the Uganda National Bureau of Standards (UNBS). In a statement, UNBS…
Equity Group Holdings has announced a remarkable recovery, posting a 25% growth in profit after tax for the quarter ended March 31, 2024. The Group’s profit after tax stood at Kshs 16…
Nicholas Lutakome, the former CEO of Sanlam Uganda, has been named the New Chief Executive of CIC Insurance Uganda Limited. Mr. Lutakome was selected to succeed Mr Richard Ssevume who stepped down in…
AutoXpress Ltd has announced the grand opening of its third branch in Uganda, further expanding its presence in the country. With over 66 years of experience in the automotive industry, AutoXpress boasts…
Standard Chartered Bank Uganda has been named the best-performing Primary Dealer Bank in the Government Securities Market for the year 2022-2023, earning the honour for the second time since the inception of…
Coca-Cola Co. is advancing plans for a significant initial public offering of its African bottling arm as soon as 2025, with a valuation that could exceed US$8 billion. This major financial move…
Absa Bank Uganda, in partnership with World Vision Uganda, has commissioned facilities to improve water and sanitation for the girl-child in Abim district, Karamoja. This intervention aims to promote the continued inclusion…
The Uganda Tourism Board (UTB) and Emirates Airlines have signed a partnership agreement aimed at promoting Uganda’s diverse tourism offerings to a global audience. The collaboration, announced by UTB CEO Lilly Ajarova,…
Safaricom Plc has released its financial results for the full fiscal year of 2024, reporting robust earnings propelled largely by its M-Pesa mobile money platform. In its Kenyan operations, Safaricom witnessed a…
Absa Bank Uganda and DHL Uganda have announced a partnership to support 800 Small and Medium Enterprises (SMEs) in accessing export markets through the 2024 ‘Growing Beyond Borders’ Entrepreneurial Training Programme. The…
A team of researchers from Makerere University Centre for Environment for Development Initiative (EfD-Mak Center) on Friday 3rd May 2024 went to Parliament to share study findings on Uganda’s heavy reliance on fuel wood and…
The 2nd Uganda-Tanzania Business Forum is set to take place on May 23-24, 2024, at the Johari Rotana Hotel in Dar es Salaam, Tanzania. The event aims to strengthen the longstanding ties…
MTN Uganda has its financial performance report for the first quarter ended 31 March 2024, indicating growth across all segments of the business. According to the report, despite MTN Uganda operating in…
Uganda Airlines has taken a significant leap forward in its expansion plans with the arrival of a brand-new Airbus A320 aircraft at Entebbe International Airport. The 160-seat aircraft, configured with a 12-seat…
Mumba Kenneth Khalifungwa is a distinguished leader serving as the Managing Director of Absa Uganda, bringing with him a wealth of experience and a visionary leadership style. His tenure has been marked…
A thriving creative economy fuels innovation, jobs, and economic growth across Africa. Recognizing this potential, the African Union and Google Africa have joined forces to launch the #DiscoverMyAfrica Shorts Challenge, a month-long…
East Africa Regional Director for the Ford Foundation Jessica Horn paid a courtesy call on the Judge President of the East African Court of Justice (EACJ), Justice Nestor Kayobera, at the EACJ…
Technology is the major catalyst for spurring insurance uptake and penetration in the foreseeable future according to Jubilee Life Insurance’s Diana Ndege Ssempasa. Ssempasa who was speaking at the 13th Annual Insurance Agents…
MTN Uganda has strengthened its grip on the mobile networks market, growing its new customer base by more than 500,000 in the past four months to hit 20 million. The telecom company’s…
The Agricultural Business Initiative (aBi) has launched two innovative programs worth Ushs66.8 billion to revolutionize Uganda’s agricultural sector and tackle the climate crisis. The Green Agrifood System Programme (GRASP) and Accelerating Adoption…
Kenya’s Gross Domestic Product (GDP) growth is projected to slow down to 5% in 2024 from 5.3% in 2023 before jumping to 5.3% in 2025. Apart from Kenya, Côte d’Ivoire and Benin,…
Africa’s massive debt load and the nature of many of its resource-backed loans are compromising its economic potential, the African Development Bank’s (AfDB) President Akinwumi Adesina said recently. “I think it’s time…
In a strategic move to improve financing for Quickteller agents, Asante Financial Services Limited and Interswitch have partnered to unveil a pioneering credit service called Agent Float Financing. The new service, which…
I&M Bank Uganda has partnered with the Nnaabagereka Fund for the inaugural Queen’s Ball, a prestigious dinner event aimed at supporting women, youth, and children in Uganda. The Queen’s Ball, scheduled to…
Johnson & Johnson had received scorn for executing the so-called Texas Two-Step bankruptcy strategy. The healthcare titan was facing thousands of claims about allegedly carcinogenic talcum powder. Taking advantage of a quirk…
Parliament has approved a supplementary expenditure budget worth Shs1.106 trillion for settling the offtake arrangement between government and DEI Pharmaceuticals, wage and pension and gratuity shortfalls. During plenary on Tuesday, 30 April…
Carrefour, operated by Majid Al Futtaim in Uganda, has announced a UGX 7 million sponsorship of the Kyambogo Ultra Challenge Run, scheduled for May 4th, starting at the Kyambogo University Cricket Oval.…
LR: The Speaker of the Parliament, Anita Annet Among, Mary Goretti Kitutu, the Minister for Karamoja Affairs between 2021 and 2024, Agnes Nandutu, the State Minister for Karamoja Affairs between 2021…
Absa Life Assurance Kenya (Absa Life), an Absa Group subsidiary, has reported an increase in gross profit to KSh 862 million in 2023. “Absa Life continues to maintain a healthy quality of…
Wallace Pescarini, the President of SLB Offshore Atlantic Basin // PHOTO COURTSEY Ernest Rubondo, the Executive Director of the Petroleum Authority of Uganda, has commended SLB (formerly known as Schlumberger) for its…
In the ever-evolving landscape of financial services, one term has been making significant waves – Bancassurance. This harmonious combination of banking and insurance not only simplifies a complex concept but also creates…
In a groundbreaking move, TotalEnergies, a global leader in energy production and innovation, is revolutionizing employee engagement and empowerment, extending its transformative initiatives to its workforce in Uganda. This strategic shift not…
The Central Bank of Kenya (CBK) Weekly Treasury Bills Auction underperformed for the first time in 8 months. Bids received by the fiscal agent at this week’s auction amounted to KSh 23.6 billion, a…
Paris, April 26, 2024 – Employee shareholder ownership is the best way to associate the employees with the Company’s transition strategy, and therefore it is at the heart of TotalEnergies’ value sharing policy.…
Salaam Bank Uganda, a provide of Shariah-compliant financial services, has won the Best New Islamic Bank award at the prestigious Islamic Finance News (IFN) Global Awards, 2024. The coveted global award recognises…
Rotary International President Representative Brenda Cressey and speaker Anita Among at the 2024 Cancer Run launch at Nsambya Hospital. Looking on right is Fabian Kasi the Managing Director of Centenary Bank (right…
Uganda Baati has launched its 60th anniversary campaign at a media event held in Kampala today. Founded in 1964, Uganda Baati has been at the forefront of the steel manufacturing industry, introducing…
The world’s electric car fleet continues to grow strongly, with 2024 sales set to reach 17 million. Despite near-term challenges in some markets, based on today’s policy settings, almost 1 in 3…
The African Development Bank Group (AfDB) has reached a negotiated settlement with China Henan International Cooperation Group over failure to disclose it used a commission agent for a road project in Uganda.…
Sylvia Mulinge, CEO MTN Uganda MTN Uganda reports a 16.1 percent growth in revenues to 2.63 trillion shillings for the year 2023. Most of the revenues, (1.12 trillion) still came from voice…
Photo Courtesy: Bamburi Cement PLC Bamburi Cement PLC has sold 1.3 million ordinary shares of its Ugandan unit to Sarrai Group Limited and Rwimi Holdings amidst shrinking demand in the cement market.…
Anne Juuko The Standard Bank Group has appointed Stanbic Bank Uganda Chief Executive Anne Juuko to a new leadership role as Global Markets Regional Head-East Africa. The appointment is effective 1 April…
Michael Mugabi, Managing Director/CEO of Housing Finance Bank highlighted what he described as the bank’s strategic focus on enabling micro, small, and medium enterprises (MSMEs), especially those owned by women. Uganda’s Housing…
NSSF Managing Director Patrick Ayota. The National Social Security Fund (NSSF), Uganda’s national savings scheme, has hit Ugshs 20 trillion in Assets Under Management (AUM), one and a half years ahead of…
The Minister of Energy and Mineral Development, Ruth Nankabirwa who chaired the AGM said the government is committed to supporting UEDCL as it prepares to take over Umeme territory to ensure the…
As the global investment landscape continues to evolve, Africa stands at the forefront of emerging opportunities, poised for sustainable economic growth and development. Recently, the 7th Pensions Funds and Alternative Investments Conference…
Chimpanzees: Photo: Internet As the world gears up to celebrate World Wildlife Day today, Uganda stands at the forefront of efforts to connect people with the planet, particularly in the realm of…
Introduction: In a bold move that signals a new era for the iconic beverage brand, Pepsi recently unveiled its first major global redesign in 14 years. Rooted in its rich heritage yet…
COURTESY PHOTO: Grace Semakula, Newly appointed Chief Executive for SBG Securities Uganda Limited (SBGS) Stanbic Uganda Holdings Limited (SUHL) has appointed Grace Semakula as the new Chief Executive for SBG Securities Uganda…
Courtesy Photo: Chief Executive Officer, Mark Muyobo NCBA Bank unveiled its revamped Premier Banking offering, targeting premier banking customers, prospects, and high-value stakeholders. The key features of the enhanced offering include extended…
From Pinterest: Admassu Tadesse, TDB Group President and Managing Director Admassu Tadesse Admassu Tadesse stands at the forefront of Africa’s financial industry, wielding his expertise and leadership to drive growth and development…
Manoj Murali, Managing Director, Airtel Uganda Airtel Uganda’s Managing Director, Manoj Murali, Leads Digital Empowerment Efforts at NAM Conference. In a dynamic world reshaped by technology, Airtel Uganda’s Managing Director, Manoj Murali,…
Courtesy Photo: Varghese Thambi, Managing Director, Diamond Trust Bank and TerraPay’s Muyingo A new partnership between Diamond Trust Bank and payment services company, TerraPay, could cut by more than half the cost of…
Courtesy Photo: Anne Juuko Anne Juuko is set to leave her position as Stanbic Bank Uganda’s Chief Executive Officer, after exactly four illustrious years, for another role in the Standard Bank Group.…
Meeting in progress. Photo: Internet Environmental, Social, and Governance (ESG), as complex as it sounds is merely a set of standards that investors use to screen investments. The investments are screened through…
ESG is a framework used to assess an organization’s business practices and performance on various sustainability and ethical issues. Photo: Internet Environmental, social, and governance (ESG) is now no longer a new…
In the dynamic landscape of global finance, staying informed about the pulse of financial markets is imperative for businesses, especially local brands striving to make a mark across the continent, and as…
DR. Julia Clare Olima Oyet, the esteemed CEO of DPF, has expressed satisfaction with the unprecedented speed at which the settlement of EFC claimants is being handled. Remarkably, claimants are set to…
If Uganda emerges as a pioneer in sustainable finance within the region, it positions the country as a leader in responsible financial practices. This leadership role can enhance diplomatic relationships, partnerships, and collaborations with other nations committed to sustainability.
In a bid to strengthen the bilateral relations between Uganda and Egypt, President Yoweri Kaguta Museveni on Tuesday held a meeting with key Egyptian investors at State House, Entebbe, during which they…
On June 3, 2022, Brand Africa, in collaboration with Publics Africa Communications, hosted a captivating live event at the prestigious Protea Hotel Kololo in Kampala, Uganda.
The telecom industry in East Africa is abuzz with news of an unprecedented CEO swap between Safaricom, Kenya’s leading telecommunications provider, and MTN Uganda, a subsidiary of the multinational MTN Group.
The popular annual Brand Africa 100 Awards are back, bigger and better this year and are scheduled to be held on July 6th, 2023 in Kampala.
As one of the strategies to further improve customer experience and deliver services to its customers conveniently, Equity bank has launched a high-tech contact centre. The new Contact Centre will allow the…
MTN Uganda’s new Chief Executive Officer, Ms. Sylvia Mulinge has assumed office following the exit of former CEO, Wim Vanhelleputte, who was promoted to a regional executive role responsible for MTN Group’s…
The National Social Security Fund (NSSF) has announced a partnership with Ideawake, a global innovation software company, to expand access to the NSSF Hi-Innovator programme to more entrepreneurs across the country. In…
Uganda Breweries Limited hosted farmers to a forum to discuss the potential to scale up farming to supplement government efforts to see manufactures embrace full sourcing of raw materials they use in…
Uganda’s telecom companies have invested heavily in infrastructure services to boost internet access but the low users have limited their ability to lower internet costs for their customers including the Small and…
Today, Housing Finance Bank officially launched its Government Securities Portal with a campaign dubbed” Invest On The Go” at Mestil Hotel and Residences, Kampala. The online portal, which is housed on the…
Guy Kimbowa Lutaaya has been appointed Chief Risk Officer (CRO) at Absa Bank Uganda Limited effective 1 October 2022. He is a seasoned finance professional and banker, with over 20 years of…
The Uganda Communications Commission (UCC) has issued a public notice ordering the immediate closure of 24 radio stations and 46 courier companies for operating illegally. Notable among the couriers banned include Jumia…
KCB Bank Kenya has injected over KShs. 120 billion to support Oil Marketing Companies (OMCs) importing fuel as it seeks to consolidate its support to the energy sector. The Bank has been…
MTN Uganda’s bold decision to list its shares on the Uganda Securities Exchange last year has propelled it to the league of Africa’s most valuable companies. The latest premier annual survey by…
Google (GOOGL) suffered one of its biggest setbacks on Wednesday when a top European court fined it 4.125 billion euros ($4.13 billion) for using its Android mobile operating system to thwart rivals,…
Ms. Proscovia Nabbanja, Chief Executive Officer, Uganda National Oil Company has been nominated in the African Energy Awards 2022 as Chief Executive Officer of the year. Taking place during African Energy Week…
Local startups need to focus on niche markets that they can tap into to excel for better survival and longevity of their businesses, according to Mackinon Kabarole, Senior Manager, Business Intelligence at…
The benefits of separation of Mobile Money from the telecommunication business are beginning to be noticed as MTN Mobile Money customers are scheduled to receive UGX 5.7 billion interest pay-out for the…
Uber and Bolt have announced plans to resume operations in Tanzania, after weeks of controversy. The companies were forced to suspend services in Tanzania following the government’s regulatory changes that were enforced…
MTN Uganda and the Kingdom of Tooro have enjoyed a cordial relationship over the years. This is envisaged through the various initiatives jointly undertaken by the kingdom and MTN. This partnership is…
Absa Bank Kenya CEO Jeremy Awori is set to resign in October after a ten-year stint that saw the lender rebrand from Barclays bank to Absa. According to the lender’s board, Awori…
Stakeholders in the banking sector say financial literacy and skills development should be prioritized in efforts to support Small and Medium Enterprises (SMEs) recover from covid-19 frustration, Speaking during the Signing of…
Prudential Uganda and Prudence Foundation launched the SAFE STEPS road safety campaign, a public service program aimed at raising awareness about road safety, by providing clear and simple life-saving messages on road…
Priscilla Akora is the new Head of Marketing and Communications at PostBank Uganda Limited. In her new role, she will be responsible for driving integrated marketing communications, as well as a reputational…
African Development Bank Vice President Dr. Beth Dunford speaks at a pre-AGRF Summit event centered on the Bank's new African Emergency Food Production FacilityThe African Development Bank returns as a top-tier partner…
Uganda Clays net profit has dropped by more than half to Shs2.7bn for the first six months ending June.30 but management insists there are no worries at least for now. “We project…
DTB recorded a 30% growth to Shs20.3bilion driven by an increase in interest income, fees and commission, and foreign exchange business as Dfcu bank saw profit after tax double to Shs18.7billion. On…
On 30th August 2019, the URA Board of Directors approved the Lifestyle Audit Policy to combat corruption and illegal acquisition of property. Lifestyle Audit is the process of analyzing a person’s living…
The phenomenal growth of Stanbic Bank’s East Africa Borderless Banking platform has revealed a pent-up demand for secure, real-time transactions across international borders. Spanning a single network that includes Uganda, Tanzania, Kenya…
Absa Bank Uganda has partnered with the Uganda Institute of Information and Communication Technology (UICT) to provide ICT skills training to youth in vocational institutions around the country. The training is accredited…
Cipla Quality Chemical Industries Limited, has announced that it will pay dividends in 4 years since it was listed on the Uganda Stock exchange. In the results for the financial year ending…
FINCA Uganda and the National Forestry Authority (NFA) have partnered to restore 60 hectares of forest land in the country in the next five years. This corporate social responsibility program to commemorate…
British American Tobacco Uganda has recorded a 14% increase in net profit to Shs3.9bn for the half year period ended June 30. Results released on Aug. 5 shows that the company’s gross…
The African Development Bank has appointed Dr. Alex Mubiru as Director General in the Cabinet Office of the Bank Group’s President, with effect from 16 August 2022. Dr. Mubiru, a Ugandan national,…
Regional lender, KCB Group, has followed the footsteps of Equity Bank to venture into the Democratic Republic of Congo. KCB Group, which already has operations in Rwanda, Burundi, Tanzania, Uganda and South…
Asmahaney is an advocate, a legal consultant and an Alternative Dispute Resolution practitioner. Asmahaney is also a Committee member on the first ever appointed Investment Advisory Committee (IAC) that advises the Minister…
Telecommunication companies have reported that their operations over the last six months have been affected by what they call a difficult macroeconomic environment, characterized by the skyrocketing cost of living and foreign…
Tuesday 9th August 2022 – Kampala, Uganda: MTN Uganda customers can now use their MTN Senkyu loyalty points to get insurance from aYo, in the form of life or hospital cover. aYo…
Xente Tech Ltd, a financial technology platform that simplifies payments and finance for businesses, has obtained the Payment Systems Operator (PSO) license from Bank of Uganda. The National Payment System Act-2020, implemented…
Uganda’s Top Finance Bank (TFB) has officially been acquired by a Djibouti based bank. The takeover of TFB by Salaam African Bank was confirmed Monday morning by the Bank of Uganda which…
Corporate communication and Public Affairs is a very important business tool that is vital for the success of any business, company, organization, or association. At a time like this of rapid, economic…
Top Ugandan lawyer, Edgar Tabaro, has been appointed as a Special Envoy of the President of Sudan’s oldest political party. Tabaro will serve as the Mahdi’s special envoy in the East African…
Sunbird AI, a non-profit organization that develops artificial intelligence systems for social impact in Africa has signed a Memorandum of Understanding (MoU) with Centenary Technology Services geared towards developing the Artificial Intelligence…
Uganda has scrapped taxes on airlines using the Entebbe International Airport, a move that will make it cheaper for transiting passengers to travel through the facility. The move, which may not augur…
MTN once again got crowned as Uganda’s most admired African brand in Uganda by Brand Africa 100 | Africa’s Best Brands rankings, based on a survey carried out across 29 countries that…
The Uganda Bureau of Statistics-UBOS and the World Bank have disagreed on the methodology used in determining the country’s economic status. They will however release a joint statement in the next 24…
Ugandans took to social media to criticize the appointment of Sylvia Mulinge, a Kenyan Corporate Executive, with some arguing that after listing on the stock exchange and unveiling the slogan “Uganda is…
Grace B. Muliisa, is a Ugandan Banker and Corporate executive, who was appointed the Managing Director of Ecobank Uganda Limited in August last year. She was the Head Personal and Business Banking…
The World Bank has put the per capita income of Uganda at 850 dollars for the financial year end 2022, with the economy growing at an estimated 3.7 percent. According to the…
Sylvia Mulinge becomes MTN Uganda CEO, joining from Safaricom, where she served as Chief Consumer Business Officer for the Group. A seasoned executive, she brings with her a passion for transforming customers’…
The government, oil and gas companies continue to counter opposition to the development of the sector in Uganda, which has recently targeted religious institutions. The crusaders accuse the government of allowing activities…
Following approval of declaration of dividends by its shareholders at the Annual General Meeting held on the 27th day of May 2022, MTN Uganda has paid out a total dividend of Ugx105.4…
The National Social Security Fund (NSSF) has put in place initiatives to support local firms’ capacity, growth and competitiveness for better business opportunities. The initiatives that are already in practice include, the…
Mr Waiswa Bageya, the Works Ministry permanent secretary, said the search for the new Uganda Airlines CEO would be redone after bid documents were sent to four firms, before settling on PricewaterhouseCoopers…
Uganda’s Court of Appeal has blocked South African moneylender, Vantage Mezzanine Fund, from selling businessman Patrick Bitature’s prime properties in Kampala. In his ruling on June 27, Justice Christopher Gashirabake said “there…
According to his family, Mr Majwega had gone to the USA to attend his daughter’s graduation ceremony in Minnesota. “With deep sorrow Ms Halima Majwega of Framingham,Ma and her family announce the…
Uganda Breweries Recognized at the President’s Export Award Ceremony Uganda Breweries has been recognized by President Museveni and the Uganda Export Promotion Board as a leading company in export promotion and import substitution. This…
Uganda Development Bank is set to lend slightly over Shs300bn in the coming six months to support businesses to overcome the current economic shocks, characterized by high commodity prices. The lender’s Chief…
The students of Kasese Youth Polytechnic Vocational Training Institute (VTI) in Western Uganda are set to reap from the generous donation of a fully furnished Digital Resource center courtesy of the MTN…
Shareholders in banking service companies will in a month’s time start receiving dividends for their investments, for the first time since 2019 following BOU approval. Stanbic Bank Uganda and Bank of Baroda…
With just UGX600, 000 or USD166 investment, Stanbic customers are now able to acquire for themselves and loved ones, annual medical insurance cover of up to UGX 20 million—this, courtesy of Stanbic…
The Uganda Bureau of statistics (UBOS) has launched structure committees mandated to collect field data regarding the statistics of the country. UBOS earlier on formulated a 5 year Plan for National Statistical…
Bank of Baroda (Uganda) Limited has informed its shareholders that it will pay the final dividend for the year ended December 31st 2020 following receipt of the necessary regulatory approval. Bank of…
Housing Finance Bank has launched the Incremental Housing Loan to unlock opportunities for Ugandans to attain affordable home ownership and financial independence. Uganda’s housing deficit stands at 2.4 million housing units and…
Cornwell Muleya, the former Chief Executive Officer of Uganda Airlines has been arrested on orders of The Inspectorate of Government-IG.. A statement by the Deputy Inspector General of Government, Dr. Patricia Achan…
Absa Bank Uganda has introduced land purchase loans in a bid to help more people realize their dream of land and home ownership. These loans will enable customers to access affordable financing…
It is not uncommon in our land for things to stop at promise and policy level without real on-ground implementation. This trend has given rise to a doubt-over-faith mentality. It is therefore…
Fifteen Ugandan banks have signed onto the TradeClear platform to ease and boost interbank trade within the country. TradeClear is an interbank trading platform managed by financial services company Frontclear and is…
The UK Government has stepped down from funding Financial Sector Deepening Uganda (FSDU) and handed over that role to the Bill and Melinda Gates Foundation, it said on June 15 in a…
MTN Uganda has today donated computers and a WiFi router and a multi-purpose printer to the Nakawa Market vendors Association as it concludes its staff volunteerism campaign dubbed 21 Days of Y’ello…
Uganda Revenue Authority has established mechanisms to start collecting VAT from non-resident service provider companies operating in the Ugandan economy. Collection of VAT from these companies is starting effective 1st July 2022,…
The Uganda Tourism Board (UTB) has announced that come January 1, 2023, all tourism players in the country will require to be registered, and licensed by the Board. The UTB Chief Executive…
Mukwano Products lands grand Prix as the #1 most admired Ugandan brand. NBS, Centenary Bank, Movit, Nile Special, Riham Drinks, and Abryanz Collection lead respective categories for best Ugandan brands. QG Group’s…
THE FORBES AFRICA 30 UNDER 30 CLASS OF 2022 CARE ABOUT BEING VISIONARIES OF CHANGE AND CATALYSTS FOR INNOVATION. BEING ON THE MOST-ANTICIPATED LIST ON THE CONTINENT, FOR THESE YOUNG TRAILBLAZERS, IS…
Uganda Securities Exchange has spoken out on the allegations of a data breach from its servers; specifically allegations of the leakage of personal data from the USE Easy Portal. In a statement dated…
The High Court in Kampala has dismissed with costs an application by Kampala businessman Patrick Bitature for a temporary injunction to restrain his creditors of M/s Vantage Mezzanine Fund II Partnership from selling,…
The Public Relations practitioners in Uganda have been urged to create safe working spaces within the companies they work for so as to create strong mental health amongst staff. The call was…
Government agencies and petroleum marketing companies are divided on whether or not to resume the countrywide crackdown on fuel stations that violate standards. These activities were suspended when COVID-19 broke out more…
Letshego has appointed Aobakwe “Aupa” Monyatsi as Group Chief Executive. Prior to this appointment, Aupa held the same role in an interim capacity from 4 May 2022, having led the inclusive finance…
DHL Supply Chain International Ltd, a Ugandan subsidiary of the the Deutsche Post (DHL group in Germany) has been ordered to pay UGX 1,484,422,000 of Value Added Tax (VAT) to URA in…
UAP Old Mutual has registered impressive growth and a record market leadership, according to the recently released Financial Statements for the year ended 31st December 2021. Regardless of the low insurance penetration…
Ugandan Economist and Business Executive, John Kakungulu Walugembe, graduated from Harvard University’s John F. Kennedy School of Government in May.In a color full ceremony, held at the University’s campus in Cambridge Massachusetts,…
Jumia Uganda has celebrated a decade of progress and serving Ugandans with the online platform launched in Uganda in 2012 when e-commerce in the country was virgin and today sells about six…
ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the mobile internet, today announced it has won the “Best Mobile Transport Solutions to Connect…
MTN Uganda Limited has announced the re-appointment of PricewaterhouseCoopers, Certified Public Accountants as the external auditor of the Company for the audit relating to the financial year ending 31 December 2022. The…
Kendi Ntwiga has been appointed as the Global Head of Misrepresentation for Meta, the company that owns Facebook, Instagram, and WhatsApp. This follows her departure from Microsoft Kenya, where she served as…
MTN Uganda, Chief Executive Officer, Wim Vanhelleputte.MTN Uganda shareholders are due to get their first dividends since the company listed on the Uganda Securities Exchange, with the register for those eligible closing…
Kansai Paint Co., Ltd. has entered into an agreement to sell its Africa business to Akzo Nobel N.V. (“AkzoNobel”), a global paints and coatings company, said on June 2 in a statement.…
Sanjay Rughani, a banker with over 25 years of banking experience across the African continent, has been appointed the Chief Executive Officer of Standard Chartered Bank, Uganda He replaces Albert Saltson, who…
Leading beer makers Nile Breweries Limited (NBL) have Thursday pledged to maintain the current market prices for all their products, in the face of the surging inflation in the country. The company…
Stanbic Bank has made a contribution of UGX150m to Makerere University as the institution marks 100 years of service to humanity. The UGX 150m cash donation is expected to boost activities lined…
One of the joint venture partners in Uganda’s oil sector and the developer of Tilenga project, Total Energies, has revealed that the on-going escalating fuel prices have not yet affected their works…
At the end of January 2022, Smile Telecom’s 4G LTE network was switched off and until now, the firm continues to encounter challenges on their network that have impacted the service availability.…
East Africa Breweries Limited (EABL) has appointed Anne-Joy Michira as its Marketing and Innovations Director for Africa effective 1st May 2022, taking over from her predecessor Graham Villiers-Tuthill. Prior to this appointment,…
Uganda Development Bank Ltd (UDBL), in partnership with the European Union, has announced a special call for eligible businesses in the tourism sector to apply for and receive up to Shs1 billion…
The First Lady and Minister of Education and Sports, Hon. Janet Kataaha Museveni is slated to inaugurate new buildings at Makerere University and lay foundation stones on the ongoing construction of two…
Kin Kariisa has ended his 10 years on the board of Ecobank Uganda, a subsidiary of Ecobank Transnational Incorporated (ETI), one of Africa’s largest financial brands, leaving behind a well-entrenched bank, with…
Kirunda Magoola has been appointed Public Affairs and Communications Director, Coca Cola Beverages Africa (Uganda) replacing Simon Kaheru who was appointed Group Head of Public Policy and Partnership as of 01 April…
The Coca-Cola system in Uganda yesterday unveiled a new iconic look of its leading sparkling lemon-lime flavored soft drink Sprite in a clear polyethylene terephthalate (PET) plastic bottle packaging. This shift from…
Absa Bank Uganda and Prudential Uganda have today launched the Absa Family Protection Plan, a life insurance policy, designed to help families plan for the financial needs faced during the loss of…
South African insurer Sanlam and Germany’s Allianz have agreed to combine their current and future operations across Africa in a joint venture. The total group equity value is expected to be more…
The International Finance Corporation (IFC), the private sector lending arm of the World Bank, has acquired a 6.71 percent stake in Kenya’s regional lender Equity Bank, officials said Tuesday. Mohamed Gouled, the…
UAP Old Mutual insurance company has seen its net profit nearly double from Shs 9.7billion in 2020 to Shs 17.2billion last year driven by increase in gross written premiums, better claims and…
Effective June 6, Ugandans will not be able to send money or top-up airtime for individuals in other jurisdictions. However, WorldRemit maintains that Ugandans will still be able to receive money from…
Absa Bank Uganda has contributed 65 million shillings to Makerere University to mark 100 years of excellence in building a transformed society. On Tuesday, Absa Uganda Managing Director, Mumba Kalifungwa handed a…
Over the years, on average, only 20% of the brands Africans admire are made in Africa. Nike (#1 brand overall), MTN and Dangote (#1 African brands recalled spontaneously and prompted respectively), BBC…
Marketing services firm WPP Scangroup has made preparations to write off up to Sh4.7 billion investments in its subsidiaries. The manouvre has seen the share premium account –representing the value of shares…
Godfrey Muhindo has been appointed Chief Commercial Officer for MTN Mobile Money Uganda Ltd reporting to the Managing Director. As Chief Commercial officer, Godfrey Will be responsible for running the commercial operations…
Lois Aber Kwikiriza has been appointed the new Head of Marketing at MultiChoice Uganda. Kwikiriza takes on the mantle from Colin Asiimwe who has been at the helm of marketing at MultiChoice…
Tetteh Ayitevie, who has been the Chief Strategy Officer at Prudential Life Insurance Ghana (PLIG), will take over from Acumile Majija. Majija, who has been Prudential Uganda’s CEO designate has joined Prudential’s…
The Tax Appeals Tribunal (TAT) slapped a fine of UGX 20 Million on Nile Breweries Limited (NBL) and UGX 30 Million on Standard Chartered and Stanbic Bank for contempt in a ruling…
Harriet Nakkungu, a businesswoman based in Namataba town in Mukono district had for over 12 years, desired a smartphone to boost her business but she could hardly afford one due to the…
Uganda’s financial industry risks being blacklisted by international systems for failure to put in place measures that can effectively prevent financial crimes like money laundering. This is a requirement by the Financial…
Uganda Revenue Authority (URA) officials have told Members of Parliament that 4.3 trillion Shillings projected revenue is to be foregone due to different unfunded interventions in the coming financial year 2022/2023. Led…
Uganda is set to be part of the first-ever report that will cater exclusively to the PR and communications industry within the African continent. This follows a statement released on Wednesday April…
The rising costs of fuel and other essential items is expected to affect the growth of the domestic tour and travel industry, one of the reasons the sector has to find mitigating…
Uganda’s electricity distribution firm, has seen 2021 net profit more than triple to Shs139bn owed to increase in customer base and electricity sales. This is the similar profit earned in 2019 during…
Although the slow verification and random selection of applicants for the NSSF midterm access aims to avoid malpractices for those using the manual applications, it has been identified as the probable cause…
Stanbic Uganda Holdings Limited (SUHL) has announced it grew its net profits by 11% in 2021 to earn Ushs. 269billion from Ush.242bn in 2020, driven mainly by strong growth in non-interest income…
The European Union has provided 8 million euros (31.8 billion shillings) towards efforts aimed at eliminating injustices related to the land tenure systems in the country. The grant to be administered by…
Dfcu Bank Limited on Thursday announced its audited financial results for the year ended 31 December 2021 with core business metrics remaining as total operating income grew by 21% to Ugx 369…
Petition filed by Samuel Obedgiu has raised concern over Chipper Cash operations in the market, tasking officials at the Capital Markets Authority (CMA) to explain how the firm is encouraging Ugandans to…
Uganda Tourism Board (UTB) on Wednesday launched its new destination brand Explore Uganda, The Pearl of Africa, as part of a tourism and media launch event held at the Sheraton Jumeriah Beach…
Absa Group has announced the appointment of Arrie Rautenbach as Chief Executive Officer (CEO), effective immediately. “On behalf of the Board, I am delighted to announce the appointment of Arrie as our…
On March 30, Stanbic Bank donated Shs 70 Million to the LéO Africa Institute towards supporting its Young Emerging Leaders Project, which fosters leadership skills by emphasizing empathy, clarity, knowledge and volunteerism,…
The Netherlands Embassy in Kampala partnered with the award-winning Ugandan fintech Emata to accelerate the availability of affordable digital loans to smallholder farmers in Uganda. The partnership includes a grant of up…
A Rwandan scientist, Audace Nkeshimana, who graduated from Massachusetts Institute of Technology (MIT), an elite US-based university, is looking to make radiology services remotely accessible to Rwandans by using Artificial Intelligence (AI).…
The Uganda Investment Authority (UIA) awarded CNOOC Uganda Limited the FID (Final Investment Decision) Appreciation Award for the Lake Albert development project. President Yoweri Museveni, at this landmark ceremony, said that the revenues accrued from…
The Uganda Electricity Transmission Company Ltd (UETCL) chairman Board of Directors, Mr Peter Ucanda, has resigned from his job citing what he called negative media reports that have soiled his hard-earned reputation…
The Uganda Tourism Board (UTB) in partnership with Private Sector Foundation Uganda (PSFU), Uganda Tourism Association (UTA), Mastercard Foundation and Adventure Vacation Safaris are hosting a domestic tourism promotion tour at Murchison…
As pressure is mounting for countries to reduce carbon dioxide emissions, the government of Uganda has partnered with an investor to build a carbon-neutral refinery to meet the energy needs of the…
The Luxembourg Stock Exchange (LuxSE) and Rwanda Stock Exchange (RSE) have signed a long term Memorandum of Understanding (MoU) between the two institutions to improve cooperation. The event was held during a…
Kenya’s Equity Group saw its net profit nearly double for the 12 months to December 31, 2021 on the back of a reduction in loan loss provisions and growth in interest income…
Digital credit providers (DCPs) in Kenya will have to disclose their sources of funds and provide evidence of the same following the coming into force of a law meant to regulate the…
Cipla Quality Chemicals Limited (CiplaQCIL) has joined other stakeholders in drug manufacturing, storage, regulation and sales to participate in the East Africa Phartech Pharmaceutical and Healthcare Exhibition. Speaking on the sidelines of…
Kyambogo University has partnered with China National Offshore Oil Corporation (CNOOC) for collaboration in the areas of internship, employment of graduates, Joint research, and technology transfer, among others. Prof. Eli Katunguka –…
The government is determined to continue with the electronic system of agricultural input purchases. The e-Voucher system launched in 2019 was developed by United Bank for Africa and used as a purchase…
The National Social Security Fund has paid out Ushs78.8 billion to 4,417 eligible members to date, UGX 20.8 billion above its weekly target of UGX 50 billion. Speaking to media at a…
Developed in partnership with The Humane League, the first-of-its-kind commitment goes beyond what legislation prescribes and contributes to further improvements in farming conditions in the region. Under the new Farmed Animal Health…
One of the biggest recent surprises in the African logistics sector over the past few months has been Bolloré’s decision to pull out of the industry. The French conglomerate has been a…
Uganda Airlines has completed feasibility studies on a number of routes the National Carrier plans to fly to. Some of the routes in question include Mumbai in India, London in United Kingdom,…
E-commerce firm, Jumia has officially launched the 9th edition of its annual tech-sale. Executives said yesterday (March 21) in Kampala that the sale activity will run from March 21 to April 3rd…
The Rt. Hon. Robinah Nabbanja, the Prime Minister of Uganda has urged entities charged with overseeing the oil and gas operations in the country to widely publicise the National Oil Spill Contingency…
Ugandan Apple Products’ dealers Sagebuyers have announced a partnership with Lipa Later, Kenyan tech-led consumer credit platform to enable their clients receive iPhones and other Apple products available at the Sage Buyers…
Kenya-based agritech Apollo Agriculture, which helps farmers access high-quality farm inputs, financing and markets, plans to double the number of farmers it is serving by the end 2022 and to introduce other products…
The International Monetary Fund-IMF, has given Uganda a clean bill of health regarding the handling of the COVID-19 pandemic, the funds and the economy as a whole. For this, the Fund’s board…
The social media hashtag #OneStepCloser that has been gaining popularity in recent weeks can now be firmly linked to Stanbic Bank Uganda, as the lender’s new brand campaign aimed at rallying Ugandans…
Over the last two years, the COVID-19 pandemic impacted businesses on national and global scale. Governments in many developing countries introduced severe containment measures, involving restrictions on economic activity and mobility, to curb…
Bancassurance contributed UGX103.5billion to the UGX1.1trillion Gross Written Premium (GWP) recorded by Uganda’s insurance sector in 2021 with Stanbic Bank accounting for 22% to consolidate its position as market leader. Bancassurance is…
Saltson, a Ghanian national was appointed CEO and Managing Director of Standard Chartered Bank Uganda in March 2017. He took over from Herman Kasekende, the first Ugandan to head Standard Chartered Bank,…
Digital safety is a fundamental right for consumers, and all stakeholders should join hands to enforce it, the Uganda Communications Commission Ag. Executive Director Irene Kaggwa Sewankambo has said. “The Commission recognises…
Michael Atingi-Ego, the Deputy Governor of Bank of Uganda, said, “Uganda’s inspirational ranking amidst a raging Covid-19 pandemic should galvanize us to sustain the good policies and interventions as well as to…
The Deposit Protection Fund (DPF) has revealed that it has about 20.1 billion which is supposed to be paid to shareholders and depositors of closed financial institutions upon the conclusion of liquidation…
Kampala – 3rd May 2022: Airtel Mobile Commerce Uganda Limited (AMCUL), the leading mobile financial solutions provider in the country, has today appointed Hon. Maria Kiwanuka as Board Chair. The appointment that…
March 3, 2022. The Insurance Regulatory Authority of Uganda (IRA) has launched the inaugural Insurance Week, an event that seeks to take insurance information closer to the people so as to enable…
CNOOC Uganda has confirmed a final investment decision (FID) for the Kingfisher field, marking another step forward for the Lake Albert development. Energy Minister, Ruth Nankabirwa, said on November 3rd the chairman…
Representatives from MTN Uganda and SBG Securities plus Crested Capital (stockbrokers of the MTN IPO), have arrived in Arua for a town hall meeting to drive awareness and provide vital information about…
Uganda Investment Authority (UIA) yesterday 2nd November 2021 received 1 square mile of land for industrial park development from the Ministry of Defence in Nakasongola. The land was received by the UIA…
The Buddu County (Pokino) has urged the people of Masaka to embrace economic development as MTN spreads awareness about how Ugandans can participate in the ongoing MTN Initial Public Offering (IPO). Levis…
Standard Bank customers in eight African countries to enjoy enhanced digital payments experience in partnership with Flutterwave On 28th October 2021, in Johannesburg, South Africa, Standard Bank, the parent company of Stanbic Africa…
The parliamentary trade committee has stopped the payment of a stimulus package of Shs 3 billion to Kampala Serena hotel by Uganda Development Corporation (UDC). Serena hotel is owned by a consortium that…
China National Offshore Oil Corporation (CNOOC) Uganda has stepped out with projects aimed at preparing Bunyoro kingdom subjects to tap into opportunities created by the oil and gas sector. While the discovery…
The Uganda Investment Authority (UIA) and the American Chamber of Commerce Uganda (AmCham) have today signed a Memorandum of Understanding (MoU) to promote and facilitate American investment in Uganda. The agreement aims…
Ecobank Uganda, a member of the leading pan-African banking group, the Ecobank Group, is celebrating the ninth annual Ecobank Day, its flagship corporate and social responsibility annual event that ‘gives back’ to…
The Uganda Tourism Board (UTB) has urged Government to provide additional funding to a tune of Shs3.3bn to promote Uganda’s tourism at the ongoing Dubai Expo despite questions raised on the partial expenditure…
The committee on trade, tourism, and industry has tasked the Uganda Tourism Board (UTB) to account for the 360 million shillings spent during the Dubai 2020 Expo. UTB led by its Executive…
Airtel Uganda has partnered with Ankole Coffee Producers Cooperative Union(ACPCU) to provide the convenient Airtel Money payments platform services to enhance payments of ACPCU’s member farmers in a simple and secure way…
The Uganda Registration Services Bureau (URSB) as part of their All- digital, All-online strategy has today, 26th October 2021, launched an Intellectual Property (IP) Online Filing (Front Office) System that is designed…
Stanbic Bank and traders under the umbrella body, Kampala City Traders Association (KACITA), recently signed what they described as a ground-breaking trade and tax partnership pact that will ease the clearing of…
Uganda has secured a new market for its milk in Zambia following a long unresolved impasse with Kenya which was the largest market for Uganda’s exports. Since December 2019 when Kenya authorities…
In a highly anticipated event, MTN Uganda’s youth platform, MTN Pulse yesterday on the 24th October 2021 unveiled a partnership with seasoned fashion mogul, Santa Anzo through her establishment ARAPAPA by Santa…
It is as fresh as an oven-baked cake that MTN Uganda has offered over 4.5 billion shares to the public for acquisition. The offer signifies that the public can now become shareholders of…
MTN Uganda in partnership with SIMFY, the developers of Ayoba, has launched a campaign dubbed ‘Life inside Ayoba’ that will see Ayoba users sending MTN MoMo for free to fellow Ayoba users.…
Uganda Revenue Authority (URA) has missed its target for the first quarter of the financial year 2021/22 by Shs 499.49 billion. Out of the Shs 4.959 trillion target set by government, the…
ACCA Uganda and Deloitte have officially unveiled the 5th (2021) edition of the Chief Financial Officer Awards to be held on December 09th, 2021 under the theme, “Finance leaders as drivers of…
When MTN announced that it would be selling shares to the public last week, it emphasized that Ugandans would take priority. The telecom even revealed some incentives that Ugandans would enjoy in…
Stanbic Bank Uganda has taken control of petroleum products distributor MOGAS after the latter reportedly failed to pay back a three-year loan. The bank immediately put the company, whose full name is:…
On Monday 11th October 2021, MTN Uganda opened its Initial Public Offer that will run until 22nd November 2021 at 4 pm. The MTN Uganda Chief Executive Officer (CEO), Wim Vanhelleputte, sheds…
Whereas several Ugandans are struggling to access their savings with the National Social Security Fund (NSSF), the managers of the Fund are literally swimming in billions of cash. Credible sources within this…
“Mr. Kanyagoga was irregularly recruited as he didn’t meet the criteria in the advert and lacks the requisite integrity to run such a highly specialized agency with regulatory powers,” said a Whistleblower.…
For 10 years now, Forbes has published an annual definitive compilation/list of young people changing the world by building brands, creating jobs, and transforming lives in their respective fields. Today, 08th October…
Officials of the Uganda Tourism Board (UTB) have come under fire from several Ugandans who are faulting them for not only embarrassing President Yoweri Kaguta Museveni but also the entire country during…
The strategy by telecom giant MTN Telecommunications Company of getting Ugandans involved as partners in its activities has been described as very important by President Yoweri Museveni who said it allows Ugandans…
Uganda Securities Exchange’s (USE) Securities Central Depository (SCD) and MTN Mobile Money have today unveiled a digital SCD account opening platform to further efforts towards financially including all Ugandans. A Securities Central…
Stanbic Uganda Holdings Limited (SUHL), a member of the Standard Bank Group, has demonstrated business resilience, weathering through the effects of the Covid-19 pandemic to post a robust performance in the first…
Equity has been named the Best Regional Bank in East Africa by the 2021 African Banker Awards. The award was conferred to the Bank for its strong and consistent financial performance, its…
MTN Uganda, in line with its vision of delivering a bold new digital world to its customers is set to transform Uganda’s homes into smart homes with MTN WakaNet MAX, a home…
Transformation of Uganda into a modern, prosperous society as laid out by the National Development Plan III will largely depend on how fast Uganda can harness, protect and utilize intellectual property, the…
The economy in general and the real estate sector specifically, remained subdued over the past one and a half years due to the lockdown restrictions that affected different sectors of the economy.…
The signing of the Shareholder’s agreement of EACOP and the Tariff and Transportation Agreement by Uganda and Tanzania, resulted in a marked increase in inquiries across asset classes in Kampala. The aforementioned…
In a bid to expedite addressing land issues such as illegal land evictions, incidents of corruption and bribery, Lands Minister Judith Nabakooba yesterday launched a National Call Centre based in Wandegeya. She…
Vice President Jessica Alupo has said corruption is partly seen in leaders’ behaviors and called for exemplary leadership to fight the vice. “You are holding these public offices in trust of the…
The Government of France has donated to Uganda sh10.8 billion covid fight items such as one million FFP2 face masks, fifty four thousand six hundred antigen testing kits and nine Osiris3 respirators. They were…
Ministry of health has condemned malicious attacks on Ministry of Health officials by groups of persons who have been politically organised with an intent to defame . This follows yesterday’s protests by a…
Real Sector Annual Headline inflation slightly increased to 2.0% in June 2021 from 1.9% the previous month, largely driven by increases in prices for food and non-alcoholic beverages during the month. Economic activity weakened in June 2021 largely on account of the implementation of restriction measures to curb the resurgent spread of Covid-19 during the month. Similarly, sentiments about doing business,…
The National Bureau for Non-Governmental Organisations (NGO Bureau) under the Ministry of Internal Affairs has said Maya Project Uganda Chapter, an organization under spotlight for alleged trafficking, is nota registered NGO. NGO Bureau…
The Uganda Investment Authority (UIA) is on move to prioritize channeling its investment support to local scientists and innovators that are active in the pathogenic economy. Uganda stands to benefit from investments in…
Government has agreed to take over Busoga University as a public institution with its sh15b loan, which President Museveni on Sunday morning said will be paid after its accountability. The development follows…
The Communications sector in Uganda has weathered the storm caused by COVID 19 and registered growth, with total subscriptions crossing the 28 million mark, according to the Uganda Communications Commission (UCC) quarterly…
Prudential Assurance Uganda Limited (Prudential Uganda) has successfully transferred the policy holders, staff and agents of International Air Ambulance Healthcare (IAA Healthcare) to its business. This follows a comprehensive transfer process that…
African Guarantee Fund has announced the appointment of Jules Ngankam as the new Group Chief Executive Officer.
The government of Uganda through the Ministry of Agriculture, Animal Industry and Fisheries (MAAIF) are optimistic that the National Strategy for Youth Employment in Agriculture (NSYEA) is one of the quickest measures…
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