Centenary Bank and Absa wrote the largest premiums from bancassurance for the quarter ended March, details from Insurance Regulatory Authority (IRA) show. During the period, data from IRA indicates, Centenary Bank wrote the largest premiums in the life category, recording…
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…
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…
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…
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…
EFC Uganda Limited (MDI) has sealed a financing deal worth UGX 8 billion with Oiko Credit Uganda. These funds are planned to go towards the financing of SMEs in Uganda. Oiko Credit is a social investor that promotes sustainable development…
Property consultancy firm, Knight Frank, has been appointed by Aponye (U) Ltd, to manage Aponye Complex, a newly completed mixed-use development in the heart of Ntinda, Kampala. The Aponye Complex, a 5,000 sqm mixed-use development which comprises retail, commercial and…
In the six months to June 30, MTN Uganda said its pretax profit rose to 275.6 billion shillings ($71.1 million) from 208.1 billion in a similar period last year. MTN Uganda said on Thursday its first-half pretax profit jumped 32.4%…
The Rwandan subsidiaries of regional lenders KCB and Equity have auctioned a prime shopping mall in Kigali for $16.4 million. BPR Rwanda, a unit of KCB, and Equity Bank Rwanda were seeking to recover a $16 million loan the owner…
Uganda Development Bank (UDB) has launched the Enterprise Development Program aimed at preparing entrepreneurs for financing through enhanced business practices. The Enterprise Development Program will be a series of trainings under the country’s development finance institution’s Business Accelerator For Successful…
PostBank Uganda, a financial institution that is committed to empowering lives and transforming livelihoods, has today, launched its new smart ATMs in a bid to get more Ugandans financially included through digitisation. With the smart ATMs, customers will now be…
Uganda’s commercial banks are planning to provide Shs 1 Trillion in export credit facility to help local manufacturers boost their access to the regional markets. Sarah Arapta, the chairperson of Uganda Bankers Association said during the 5th Annual Bankers Conference…
Housing Finance Bank together with the Parliamentary Forum on Labor, Decent Employment, and Productivity and the Bank of Uganda, this morning facilitated a Breakfast Meeting on enhancing Foreign Direct Investments (FDI) into the country. The meeting, held at the at…
Micro, Small and Medium Enterprises (SMEs) in Uganda are set to benefit as dfcu Bank launches a brand-new offering aimed at giving them an opportunity to enjoy banking while operating an account that speaks to their business needs at their…
Oxfam, plans to unveil a 20million Euros (Shs77bn) Impact Fund to support small businesses in line with their goals. The fund, to be unveiled as a pilot project before the end of the year, will support businesses in Uganda, Kenya…