The recently concluded nationwide 42-day lockdown intended to lessen the spread of a second wave of the Covid-19 pandemic across Uganda has added to the continued economic slowdown. The headline Stanbic Purchasing Managers’ Index (PMI) slipped to 34.6 in July,…
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…
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…
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,…
By Wilson Ishimwe Uganda Bankers Association (UBA) has unveiled the Fourth Annual Bankers Conference 2021 that will be held 26th & 27th July under the theme “ Bend but Don’t Break, How the Financial Sector can thrive in the era of the…
Gov’t projects a sh2Trillion revenue shortfall in the first quarter of Financial Year 2021/22 as a result of the on-going nationwide total lockdown in which businesses are closed down, the Finance Ministry Permanent Secretary/ Secretary to Treasury Patrick Ocailap has…
In a bid to improve the quality of maternal health services, Financial Brand Stanbic Bank together with the wider community members yesterday donated sh24m mama kits hospital to Kawempe Hospital. The materials were received by the Health Ministry Permanent Secretary…
Absa Bank Uganda and MTN Mobile Money Uganda Limited have announced the introduction of mobile money payment functionality, also known as MTN MoMoPay on Absa Point of Sale (POS) machines. The service is open to all MTN Uganda mobile money…
The monthly Stanbic Purchasing Managers’ Index (PMI) dropped to 34.9 in June from 56.5 in May attributed to government’s lockdown measures that were announced to tame the spread of COVID-19. PMI is an indicator of business activity, both in the…
KAMPALA — dfcu Bank has held an engagement for its customers and key stakeholders in the oil and gas sector to share insights into the opportunities in the Oil and Gas sector post the Final Investment Decision.Following the signing of…
KAMPALA —Mr. Constant Othieno Mayende has been appointed as Chairman Board of Directors, KCB Bank Uganda Limited. He replaces Mr. Aga Sekalala Jr, whose term recently came to an end. Mr. Othieno is a Partner at CMK & Co, Certified…
KAMPALA — Centenary Bank has announced a 26.2% growth in its total assets on the back of increased customer deposits and investment activities. The growth demonstrates the bank’s resilience and guarantees its strong ability to continue meeting its customers’ financial…
African Guarantee Fund has announced the appointment of Jules Ngankam as the new Group Chief Executive Officer.
The Kenya Bankers Association (KBA) has signed a collaboration agreement with tech-firm Huawei-Kenya that seeks to deepen financial inclusion in the banking sector through further deployment of technology and building fintech capacity.
The OPEC Fund for International Development (the OPEC Fund) has signed a US$20 million term loan in favour of East African Development Bank (EADB). EADB will use the loan to support small- and medium-sized enterprises (SMEs) and infrastructure projects in East Africa.