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…
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…
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…
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…
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…
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…
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…
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,…
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…
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:…
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…
MTN Uganda has today announced its commitment to support Makerere University’s centenary celebrations through a sponsorship worth UGX180million. The sponsorship by MTN will be dedicated towards supporting the events organized by Makerere University in celebration of 100 years of its existence which include…
Standard Chartered Bank Uganda in partnership with Challenges Worldwide, a Kampala-based business development consultancy have today launched the scale-up of the Youth to Work (Y2W) phase III programme worth Ugx 430 million. The hybrid event that had participants attend both…
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…
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…