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.

Rocket Health appoints Dr. Jacqueline Kitulu as board chairperson and
Stephen Dimba Odhiambo as Chief Commercial Officer

Over the last 12 months, Rocket Health has achieved exceptional growth, openingnew service points, entering new markets, and building a bigger and more efficientdigital health team.In March 2022, Rocket Health closed a $5m Series A funding round to facilitateexpansion of its telemedicine and last mile healthcare delivery model. Since then,the company has opened a new…

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…

Ecobank Uganda gives its customers a “Juicy” loan deal

Ecobank Uganda is allowing its customers to obtain loans with a pay-back reprieve of 60+ (up to 75) holidays. Having this grace period allows customers to prepare their payment plans accordingly. “This week is a special moment for us,” remarked Ecobank’s Managing Director, Grace B Muliisa. We take this opportunity to thank our customers for…

Stanbic Bank and Dfcu make it to the Top 20 Banks in East Africa

Stanbic and dfcu banks are the only Ugandan banks that have appeared in the East African Top 20 banks despite banks recovering from the impact of the coronavirus pandemic. The latest annual survey by South Africa’s African Business Magazine ranks Stanbic Bank Uganda in the 14th position with a capital base of US$259million and a…

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…

Vodacom Tanzania has a new Managing Director

Philip Besiimire has been appointed Managing Director (MD) for Vodacom Tanzania, effective 15 October 2022 and will be reporting to Diego Gutierrez, Chief Officer: International Business.  Mr Besiimire replaces Hilda Bujiku who was serving the position in an acting capacity following the departure of the previous Managing director Sitholizwe Mdlalose. Philip joins the organization from…

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…

Sometimes you have to find a solution to achieve your goals career wise – Maggie Kigozi

While speaking at the Graduation of the second cohort of the Girls for Girls mentorship initiative for Post Bank Uganda, a program whose aim is to equip more women for Leadership roles with in the Bank which occurred at Protea Hotel in Kololo over the weekend, Dr. Maggie Kigozi advised the graduates to prioritize their…

NSSF set to pay out 9.65% to its savers for the year ended June 2022.

The National Social Security Fund is to pay out 9.65 per cent to each of its savers for the year ended June 2022. This is the first time in 15 years that the rate announced is below 10 per cent, mainly due to the implementation of the mid-term access to funds project that was introduced…

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…

UBC risk being switched off over Ugx3.7b arrears

The Uganda Broadcasting Corporation (UBC)’s satellite service provider has given the national broadcaster until September 30 to pay $988,225 (Shs3.7b) arrears or risk being switched off. The move will affect more than 30 television channels and the free-to-air decoders that use UBC’s infrastructure to transmit services. According to the satellite service provider, Intelsat, UBC’s arrears…

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…

LEAD unveil Non-Executive Directors Awards 2022

On the 16th September 2022, League of East African Directors (LEAD) in partnership with EY, MTN Uganda, Umeme Ltd, Uganda National Oil Company, Centenary Bank Uganda Ltd, Uganda Breweries Ltd, Stanbic Bank Uganda, Uganda Clays Ltd launched the “Non-Executive Directors Awards” dubbed the NED Awards 2022.  The Leadership of the League of East African Directors…

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…

Jenifer Bamuturaki is the new CEO Uganda Airlines

Jenifer Bamuturaki has been confirmed as the substantive Chief Executive Officer of Ugandan Airlines. The approval is contained in a July 5 letter written by works and transport minister, Gen. Edward Katumba Wamala, to the chairperson of the Uganda Airlines board. In the letter, Gen Wamala indicates that the directive to appoint Bamuturaki came from…

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…

UBA tells Ugandans to disregard viral video

Uganda Bankers Association (UBA) has called on Ugandans to disregard a viral video alleging missing funds on customer accounts in Centenary Bank.In a statement, UBA, advises customers to contact their banks through the proper communication channels if they want the right information.“We encourage customers to always contact their respective financial institutions through their official communication…

Over 21600 beneficiaries receive Nssf midterm payments in 3 months

Richard Byarugaba, the NSSF Managing DirectorThe National Social Security Fund (NSSF) has paid out a total of sh421 billion worth of mid term benefits to over 21,600 eligible members in less than 3 months, following commencement of payments in March this year.The payments are in respect to Section 20A (1), of the National Social Security…

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…

Uganda registers revenue growth as URA collects sh19.2Trillion.

In the FY 2020/21, Uganda Revenue Authority (URA) collected net revenue of sh19.26Trillion and posted a growth in revenue of 14.99 percent in comparison to the FY 2019/20 and an estimated tax to GDP ratio of 12.99 percent, according to the agency’s Commissioner General John Musinguzi. He said this during the press conference on revenue…

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…

Covid-19: ERA cuts electricity tariffs for 2021 third quarter

Electricity regulatorElectricity Regulatory Authority (ERA) has cut electricity tariffs across Consumer Categories from July to September 2021 with the exception of Street Lighting, the agency has announced. According to the new End-User Tariffs to be charged by UMEME, Domestic Consumers will pay sh250 for the first 15 Units under the Lifeline Tariff. Thereafter, they will…

Jada Coffee appoints Rugyendo board chairman

KAMPALA — Online coffee shop —Jada Coffee has named Deo Arinaitwe Rugyendo, the new Chairman of its board of directors, the first in that role at the budding company. Rugyendo’s appointment  was made public on Sunday April 25 after weeks of engagement.  Rugyendo who is an expert in International sales & marketing, branding and public…

Bukoola Chemical Industries Ltd, Anti-Counterfeit Network in the fight against fake agro-chemicals

KAMPALA – Bukoola Chemical Industries Ltd, the largest agrochemical distributing companies in Uganda in partnership with the Anti-Counterfeit Network has unveiled a campaign dubbed “Protect life…Twefeeko” aimed at creating awareness about fake agrochemical inputs on the market to manage and guarantee the quality of stock, food security and health of the people of Uganda.The Pesticide…

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…

Agripreneur: Why You Should Embrace Floriculture in Uganda

Agriculture is very diverse and if the youth in Uganda are to benefit from the various sections of farming, there is a need to diversify from crops to horticulture, floriculture, aquaculture, and other forms of farming. In this segment of the, ‘I’m An Agripreneur’, we bring to you reasons why you should embrace Floriculture and…

Agripreneur: Why You Should Invest In Beekeeping

Beekeeping, also known as apiculture is an agricultural project that can enable an agripreneur to make quick money after a short time.

Agriprenuer: Why Publics Africa Communications Launched The ‘I Am an Agripreneur’ Project

Publics Africa Communications initiated the ‘I am an Agripreneur’ project, with a mission to create a thriving and sustainable agricultural sector that specifically empowers young farmers ages 18-35 years to venture into agriculture, forge strong markets in Uganda and improve global food security.

Brand Africa Awards 2023: Mukwano, Centenary Bank & NBS TV Remain Uganda’s Leading Most Admired Brands 

Mukwano Industries, Centenary Bank and NBS TV  have retained the No.#1 position as the most admired Ugandan brands in Uganda, while MTN, Coca-Cola and Stanbic Bank are the leading non-Ugandan brands.

Brand Africa 100 Awards 2023: Celebrating the Best  African And International Brands

As the anticipation builds for the upcoming Brand Africa 100 Awards 2023, we reflect on the remarkable achievements of the previous year’s event.

Oil & Gas Sector: Gov’t Roots For Construction Of Oil Refinery

The government of Uganda has finalized a grand plan to  construct an oil refinery in the country, in a bid to boost the Oil and Gas sector and to make it self-sustainable.