The Uganda Tourism Board (UTB) has announced a comprehensive initiative to register and license all tourism enterprises in the country, aiming to identify and eliminate illegal operators. This move targets all unlicensed…
MTN Uganda Achieves Impressive Growth Milestones, Strengthening Digital Inclusion for Ugandans.
MTN Uganda has once again solidified its leadership in the telecom industry with exceptional performance over the first nine months of 2024 under the guidance of CEO Sylvia Mulinge. The company’s achievements reflect a robust commitment to enhancing digital connectivity and inclusion across Uganda. Record-breaking growth across Key Metrics MTN Uganda’s latest performance report highlights…
Empowering Women in Banking: Breaking Barriers for a Brighter Financial Future
Sarah Arapta, CEO of Citi Bank Speaking at the recent Women’s Economic Empowerment Forum (#WEEForum2024) in Kampala Women constitute over half of Uganda’s population and represent a powerful, yet underutilized economic force. With more than 18.2 million young women under 35, the potential for transformative change is immense. Yet, significant barriers persist, limiting women’s access…
The Rise of the Creator Economy in Uganda: Can Their Voices Be Empowered in a Digital Age?
In today’s digital landscape, capturing moments through video or social media posts has become nearly instinctive. This shift towards online expression, whether personal or commercial, underscores the influence of the creator economy, redefining how we communicate, consume, and share experiences. Social media has become an essential medium, with content creators emerging as powerful voices, driving…
Captains of Industry: Dr. Fabian Kasi – Pioneering Financial Inclusion and Corporate Excellence in Uganda’s Banking Sector
Dr. Fabian Kasi, Managing Director of Centenary Bank Uganda, stands out as a transformative leader with a visionary approach and unwavering commitment to financial inclusion. In Uganda’s banking landscape, Dr. Fabian Kasi, Managing Director of Centenary Bank Uganda, stands out as a transformative leader with a visionary approach and unwavering commitment to financial inclusion. With…
Speaker Among Warns: ‘Counterfeits Are Killing Ugandans!’ — Calls for National Action
By Isaac Tugume Uganda is grappling with a deadly enemy—counterfeit products—and Speaker of Parliament Rt. Hon. Anita Among is calling for immediate action. Counterfeit goods are flooding the market, posing grave threats to both the economy and the lives of unsuspecting consumers. From fake medicine to faulty car parts, the damage caused by counterfeits is…
Light At The End Of The Tunnel: Karuma Power Plant Goes Live After 11 Years
After more than a decade of anticipation, Uganda’s Karuma Hydropower Plant has finally been commissioned. Launched in December 2013, the project has navigated numerous hurdles—from technical defects and delays to disagreements between the government and contractors. Yet on Thursday, Karuma marked a significant turning point in Uganda’s journey towards energy security, promising to light up…
World Bank Unveils USD217M Grant to Empower Ugandan Women Entrepreneurs
In a landmark move set to revolutionize women’s entrepreneurship in Uganda, the World Bank, through the Private Sector Foundation Uganda (PSFU), has announced an unprecedented grant of USD217 million (over Shs807 billion). This transformative initiative aims to provide women entrepreneurs across the nation with unparalleled access to capital at significantly low interest rates. Unveiled on…
East Africa’s Expanding Horizons In Space Technology
East Africa is making significant strides in space technology, positioning itself as a burgeoning hub for space-related activities on the African continent. The region’s growing interest in space is not just a matter of national pride but is seen as a crucial step towards enhancing communication, improving defence capabilities, and boosting scientific research. With various…
British American Tobacco Uganda Posts Strong Profit Growth Amidst Illicit Trade Challenges
British American Tobacco Uganda Limited has registered a 21.6% increase in net profit from Shs3.7bn to Shs4.5bn for the first six months of 2024, further showing the company’s continued growth trajectory. The company executives said on Aug.2 that the macro-economic landscape was relatively stable as demonstrated by low inflation levels and foreign currency exchange rates…
MTN Uganda’s net profit up 29.7% to Shs 295.7 billion
MTN Uganda has announced a significant 29.7% increase in net profit to Shs 295.7 billion for the half-year ended June 2024, driven by robust growth in voice, data, and fintech services. The telecom company’s voice revenues rose by 15.1% to Shs 626.7 billion, while data and fintech services saw impressive increases of 28.6% and 23.5%,…
PEUGEOT’S GRAND RETURN:REVITALIZING UGANDA’S AUTOMOTIVE LANDSCAPE
After a hiatus of over 30 years, the iconic French automobile brand Peugeot has made a triumphant return to Uganda, bringing a blend of elegance, innovation, and economic promise. The re-launch event, held at The Motor center Multibrand Workshop, marked a significant milestone for the automotive industry in Uganda. As we delve into the details…
MTN Uganda Kicks Off the MTN ICT Expo 2024 Accelerating Business Transformation with Digital Technology.
MTN Uganda successfully held the inaugural MTN ICT Expo 2024, a landmark event set to revolutionize Uganda’s digital landscape. The Expo, held on the 1st and 2nd of August at the prestigious Mestil Hotel, brought together industry leaders, innovators, and key stakeholders to explore the transformative power of digital technology under the theme ‘Accelerating Business…
PostBank Empowers Arua Farmers for Regional Market Dominance
PostBank is on a mission to transform the livelihoods of Ugandan farmers. In a strategic move to boost agricultural exports, the bank has equipped 150 cassava farmers and SMEs in Arua District with essential skills to penetrate the lucrative East African market. Through a four-day intensive training program conducted in partnership with the Federation of…
CFAO Mobility Uganda Introduces Luxurious Land Cruiser Prado
CFAO Mobility Uganda has unveiled the highly anticipated Land Cruiser Prado 250 Series, a pinnacle of luxury and performance. This exclusive model, priced at Sh300 million, represents a significant addition to the Toyota Land Cruiser legacy. Designed to embody the iconic Land Cruiser spirit, the new Prado features a striking design, incorporating retro-inspired circular headlights…
Embrace Tech or Get Left Behind: Housing Finance Chief Urges Innovation in Financial Services
Financial service providers in Uganda have been urged to embrace technological advancements to stay competitive and improve customer experience. This call to action comes from Michael Mugabi, the Managing Director of Housing Finance Bank and the Board Chairman of the Uganda Institute of Banking & Financial Services (UIBFS). Mugabi made these remarks during the 21st…
Uganda Airlines Takes Flight: New Routes to Lusaka, Abuja, and Harare Announced
Uganda Airlines is expanding its wings. The national carrier recently announced the addition of three new routes to its network: Lusaka, Zambia; Abuja, Nigeria; and Harare, Zimbabwe. These exciting destinations will be served by Uganda Airlines’ flagship A330-800 aircraft, starting September 25th, 2024. This expansion marks a significant step forward for Uganda Airlines’ strategic growth…
PostBank Introduces Self-Onboarding ZeroFlex Digital Account to Ease Account Opening
In line with its purpose of fostering prosperity for Ugandans, PostBank Uganda has launched a Self-Onboarding ZeroFlex digital account to enable customers to self-register and have access to financial services anywhere and at any time without necessarily moving to the bank premises. The ZeroFlex account is a digital account that allows existing or new account…
Responsible Oil Exploration: TotalEnergies and PAU’s Strategies for Environmental Protection
A recent article raised significant concerns about the environmental and social impacts of Total Energies’ $10-billion Tilenga project in western Uganda. The project, which involves drilling more than 400 oil wells, many in the Murchison Falls Nature Park, has been criticized by conservationist groups. However, it is important to also highlight the efforts of the…
Bamburi Cement Experiences Share Price Surge Following Buyout Offer Announcement
Bamburi Cement Limited (NSE: BAMB) witnessed a significant increase in its share price on Thursday, July 11th, 2024. The company’s stock closed at KShs. 57.75 per share, reflecting a remarkable 28.3% surge from the previous day’s closing price. This upward movement can be attributed to the recent announcement of a potential buyout. Tanzania’s Amisons Group…
Coca-Cola Beverages Africa Streamlines Production and Bolsters Ugandan Economy with Cutting-Edge Bottling Line
Coca-Cola Beverages is reaping from setting up Africa’s fastest plastic bottle production line in its East Africa operations. It has a capacity of 67,000 bottles per hour and equipped with state-of-the-art technology such as robotic arms and automated fillers and is now driving efficiency and growth in the Ugandan beverages industry. In 2022, Coca-Cola Beverages…
NSSF Reaps Benefits from Telecom Investment: Shs 80.6 billion Earned Over Three Years
The National Social Security Fund (NSSF) of Uganda has reported significant returns on its investment in MTN Uganda, the country’s largest telecom operator. According to a recent press release, NSSF has earned a total of Shs 80.6 billion (approximately USD 21.7 million) in dividends from MTN Uganda over the past three years. “MTN Uganda is…
PostBank appoints Ibrahim Kato new Chief Retail Officer
PostBank Uganda Limited has appointed Ibrahim Kato as its new Chief Retail Officer. With over 15 years of experience in the banking sector, Kato brings a wealth of knowledge and expertise to the role, having worked with both international and local banks. His professional journey is marked by significant accomplishments in strategic planning, retail banking,…
Josphat Mwangi appointed General Manager of Coca-Cola Beverages Zambia
Coca-Cola Beverages Africa has appointed Josphat Mwangi to the position of General Manager for its subsidiary, Coca-Cola Beverages Zambia. Confirming the company’s commitment to developing leadership internally, Mwangi joins the Zambian team from Kenya, where he has been the Commercial Director since June 2020. He has been with the company for just over 21 years,…
Coca-Cola Beverages Uganda takes distribution to the next level
A network of Official Coca-Cola Distributors (OCCDs) is helping to ensure that Coca-Cola products reach Ugandans efficiently in every corner of the country. As a Fast Moving Consumer Goods manufacturer, Coca-Cola Beverages Uganda (CCBU) has innovated to create a system that helps it to consistently deliver quality products to consumers across the five geographical territories…
Stanbic Unit Trust Poised to Capitalize on Uganda’s Booming Collective Investment Scheme Market
Stanbic Uganda Holdings Limited has announced the launch of its Stanbic Unit Trust, strategically entering the nation’s burgeoning Collective Investment Scheme (CIS) market. This move leverages SUHL’s established client base and aligns with the Ugandan Capital Markets Authority’s reported UGX 2.8 trillion in total CIS assets under management as of March 2024 Under SBG Securities,…
Absa Group Concludes Further Agreements with MIGA; Advances Pan African Climate Finance
Absa Group Ltd, one of the largest diversified financial service providers in Africa, has concluded further agreements with the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, freeing up additional financial capacity for investments in Pan-African climate finance projects. In 2019, MIGA issued capital guarantees of US$497 million to Absa in…
Jubilee Life Unveils New Smart Save Plan, Encouraging Ugandans to Prioritize Long-Term Savings
Jubilee Life, a leading insurance provider in Uganda, today announced the launch of its innovative Jubilee Smart Save Plan. This new plan aims to empower Ugandans to prioritize long-term financial security by offering a flexible and secure savings solution. Raising awareness and educating the public about available savings options is crucial for fostering a savings…
King Oyo Visits MTN Uganda Head Office, Hails MTN’s Partnership with the Kingdom
In a significant gesture of strengthening ties and fostering collaborative efforts, the King of Tooro, His Majesty Oyo Nyimba Kabamba Iguru Rukidi IV, made his maiden courtesy visit to the MTN Uganda headquarters in Kampala today. This visit, highly anticipated by both Tooro Kingdom and MTN Uganda, underscores a partnership aimed at driving developmental initiatives…
Kampala Hosts Seventh Annual Bankers’ Conference with Focus on ESG and Sustainability
The seventh annual bankers’ conference, hosted by the Uganda Bankers Association (UBA) on June 19th at the Kampala Serena Hotel, buzzed with discussions on Environmental Social and Governance (ESG) issues, reflecting a growing global trend among businesses. Under the theme “Navigating the Future of Banking: ESG, Sustainability, and Digital Transformation,” the event highlighted the strategic…
Uganda Clays Navigates Operational Challenges, Reports Revenue Decline
Ugandan building materials producer Uganda Clays Limited (UCL) encountered a revenue decline in its recently concluded five-year strategic plan. UCL’s 2023 revenue dipped to Shs 30.1 billion ($8.4 million) from Shs 36.6 billion ($10.2 million) in 2022. The company attributed the decrease to a confluence of internal and external operational challenges. While specifics remain undisclosed,…
Appointment of the NSSF Deputy Managing Director
The Minister of Gender, Labour and Social Development has appointed Mr. Gerald Paul Kasaato as the substantive Deputy Managing Director of the National Social Security Fund (NSSF), Uganda. His appointment follows a recommendation from the NSSF Board of Directors after a rigorous recruitment process. Gerald has been the Ag. Deputy Managing Director since August 2023,…
Glovo Empowers Couriers in Uganda with Comprehensive 3-Day Initiative
Leading multi-category app, Glovo has successfully concluded its highly anticipated 3-Day Courier Program, a series of events focused on the growth, development, and recognition of its couriers. The initiative, themed ‘Courier Day’ which took place from June 18th to June 20th, included comprehensive training sessions, charitable activities, and a celebratory awards ceremony, underscoring Glovo’s commitment…
MTN Uganda to Invest Ugx4.5 billion in the second phase of MTN ACE Program to Champion Youth Empowerment
Following the outstanding success of the initial phase of its youth empowerment flagship initiative, MTN Uganda’s corporate social responsibility arm, MTN Foundation, has launched the second phase of the MTN ACE program to continue equipping youths with digital skills. This initiative underpins the company’s ambition of leading digital solutions for Uganda’s progress based on the…
MTN completes listing of 20% public float
MTN Uganda’s sale of shares left over from its 2021 Initial Public Offering was oversubscribed by almost 100%, the telecom executives said on June 13. The company received applications for 3 billion shares against 1.6 billion shares on offer, The shares sold represent 7.03% of the company’s total equity. The firm’s 2021 IPO, in which…
RwandAir Cargo expands to Dubai and Djibouti
RwandAir Cargo is launching new services to Dubai and Djibouti, both operated by its dedicated freighter B738SF. The expansion is part of the airline’s mission to connect Africa and the world, it said on June 10. The new routes will increase RwandAir’s cargo network to seven destinations and support their continued expansion of freighter offerings…
Bank of Uganda Shuts Down Mercantile Credit Bank Limited
The Bank of Uganda (BoU) took decisive action on June 18, 2024, revoking the license of Mercantile Credit Bank Limited. This move places the bank under liquidation, effectively shutting down its operations. BOU’s decision, which also places Mercantile Credit Bank, located on Old Portbell Rd, under liquidation, revoked its license, and ordered the winding up…
MTN Uganda staff, partners Enhances digital tools and infrastructure to Ariwa Secondary School in “30 Days of Y’ello Care” Campaign
MTN Uganda, along with its partners, last Friday, marked a significant extension of support to Ariwa Secondary School in Yumbe District, West Nile region, as part of the “30 Days of Y’ello Care” campaign. This initiative, an extension of the longstanding “21 Days of Y’ello Care,” celebrates MTN Group’s 30th anniversary and underscores the company’s…
FlexiPay, IFAD and Upesi partner to boost digital money transfer
FlexiPay, Stanbic Bank’s digital payment platform, has partnered with International Fund for Agricultural Development (IFAD) and Upesi Money Transfer, a regional payments company, to enable FlexiPay users to send, receive money from abroad with ease. Josephine Nakato Kasacca, Lead Customer Experience & Operations for FlexiPay said the new partnership reflects the Bank’s commitment to support…
MTN Uganda announces results of its secondary market offer of shares and resumption of trading
On the 13th June 2024, MTN Uganda announced the successful completion of its secondary market share offer, which garnered an exceptional 230% subscription rate. This robust response signifies strong investor confidence in MTN Uganda’s future prospects and the Ugandan telecommunications sector as a whole. The 230% subscription rate surpasses all expectations and reflects MTN Uganda’s…
DHL’S SALOODO! INTRODUCES THE UAE’S FIRST ELECTRIC TRUCK
DHL Global Forwarding’s digital road freight platform Saloodo! has announced that it will be the first logistics company to introduce the UAE’s first electric Mercedes-Benz truck. The fully electric 40-ton eActros 300 Tractor is particularly suitable for heavy-duty distribution transport and compatible with all common semitrailers. Exclusively used by Saloodo!, the truck will contribute to…
Ecobank Group launches 2024 Fintech Challenge with US$50,000 Prize
Ecobank, the pan-African financial services Group, officially opens call for applications to the 7th edition of its Fintech Challenge. This annual competition invites early-stage and mature fintech startups to partner with Ecobank, offering a grand prize of US$50,000 and a chance to scale their solutions across Ecobank’s extensive network spanning 35 African countries. Despite the…
Coca-Cola Celebrates World Environment Day: Highlighting Ongoing Sustainability Efforts
As the world recognizes World Environment Day on June 5th, The Coca-Cola Beverages Africa (CCBA) reaffirms its commitment to building a more sustainable future. Coca-Cola acknowledges the importance of environmental responsibility and has implemented various initiatives to minimize its environmental footprint. In a statement from CCBA’s Official Website, the Chief Public Affairs, Communication and Sustainability…
MTN Uganda Pioneering Environmental Stewardship for a Sustainable Future
Three years ago, MTN Uganda embarked on an ambitious project to restore 220 hectares of forest cover. This initiative, part of the larger “Uganda is Home” campaign, celebrated the symbiotic relationship between MTN Uganda and the people of Uganda, reinforcing the company’s commitment to the socio-economic well-being of the country. MTN Uganda’s forest restoration initiative…
CMA Rwanda welcomes Mr. Thapelo Tsheole as the new CEO
The Capital Market Authority (CMA) is pleased to announce the appointment of Mr. Thapelo Tsheole as the new Chief Executive Officer. With a distinguished career spanning over 24 years in the financial markets, Mr. Tsheole brings a wealth of experience and expertise to his new role. Before joining CMA, Mr. Tsheole served as the CEO…
NCBA Bank, MTN MoMo have joined forces to launch the “Mo Money with Mokash” campaign
In a bid to encourage timely loan repayments and responsible financial behavior, NCBA Bank Uganda and MTN MoMo have partnered to launch the “Mo Cash with Mokash” campaign. The eight-week campaign, which started on May 15th, aims to incentivize customers to repay their loans promptly and develop a good credit history. Through the campaign, customers…
KCB Boss Paul Russo Named Africa Business Leader of the Year
KCB Group CEO Paul Russo has been named the African Business Leader of the Year by Africa Leadership Magazine. Russo’s selection followed rigorous and competitive competition on the African continent, with leadership qualities, transformative vision, and outstanding contributions being key selection criteria. Since he was named CEO, Russo has committed to innovation and sustainability, as…
OFFER FOR SECONDARY MARKET PURCHASE OF ORDINARY SHARES IN MTN UGANDA LIMITED
Monday 27th May 2024. Kampala, Uganda: SBG Securities Uganda Limited (a wholly owned subsidiary of Stanbic Uganda Holdings Limited), in its capacity as the lead sponsoring broker, on behalf of MTN Uganda Limited (MTN Uganda or the Company), hereby announces the sale by MTN International (Mauritius) Limited (the Selling Shareholder) of up to 1,574,807,373 ordinary…
IFC Survey: $2.7 Billion Extra Investment Required to Empower African SMB Digital Transformation
The International Finance Corporation (IFC) has projected that Africa will need to double its annual expenditure to $6 billion in order to expand its digital infrastructure and bridge the connectivity gap between people and businesses on the continent. This projected investment is targeted at deploying more fiber optic cables from the sea to the cities…
MTN Uganda to sell shares left over from undersubscribed 2021 IPO
Telecom firm MTN Uganda plans to sell shares left over from its deeply undersubscribed 2021 Initial Public Offering to local investors to expand local ownership and comply with regulatory requirements, it said on Saturday. The Uganda unit of South Africa’s MTN Group has received regulatory approval for the extra share sale, MTN Uganda said in…
64% of Africans believe in Africa, but only 14% are loyal to African brands
Highlights: Johannesburg, South Africa – May 24, 2024 – Despite 64% of Africans expressing confidence in the continent, they remain loyal to non-African brands, which have retained their lowly 14% of the most admired brands in Africa, Brand Africa revealed in its 14th annual Brand Africa 100: Africa’s Best Brands research and rankings. African nations…
Uganda Banks On Ambitious BPO, IT Services to Create 100,000 Jobs For Elite Youth
The Ugandan government is banking on its comprehensive Business Process Outsourcing (BPO) and Information Technology Outsourcing (ITO) strategy to create 100,000 direct jobs by 2030. This ambitious plan aims to tackle the country’s youth unemployment crisis, with approximately 10 million young people aged between 18 and 30 outside of formal education, employment, or training. “Business…
TotalEnergies reaffirms commitment to creating opportunities for Ugandan youths
French oil company, TotalEnergies EP Uganda has reaffirmed its commitment to creating more opportunities for young people in Uganda to continue making meaningful contributions in their communities. The commitment was made during the company’s commemoration of its over 10 years of youth inclusion and education initiatives in Uganda. Since the start of its operations in 2012,…
Stanbic Bank Unveils A 360-Degree Innovative Lending Campaign
Early this year, Stanbic Uganda Holdings, the parent company of Stanbic Bank Uganda, announced a profit of over Sh400 billion after tax. This was attributed to the bank’s innovative lending initiatives. In a bid to hold on to the success, Stanbic Bank Uganda launched a 360-degree lending initiative on Thursday, offering customer solutions and incentives…
dfcu Limited Marks 60-Year Legacy of Transforming Lives and Businesses in Uganda
dfcu Limited is celebrating 60 years of operation and impactful service towards fulfilling its purpose of ‘Transforming Lives and Businesses in Uganda’. dfcu was established in 1964 as a development finance institution and since then, has contributed to national socio-economic transformation, growing together with Uganda since her independence. Serving as an international commercial bank with a deep-rooted commitment…
DTB bids farewell to former managing director Varghese Thambi
The Diamond Trust Bank has bid farewell to its former Managing Director, Varghese Thambi, marking the end of his 17-year tenure with the bank. Thambi, who joined DTB in 2007, was hailed by the Deputy Governor of the Bank of Uganda, Michael Atingi-Ego, for his instrumental role in transforming the bank from just three branches…
UDB, Partners Join Hands to Collect Blood Amid Shortage Of 200, 000 Litres every year
Uganda Development Bank (UDB) and its partners have today organized a blood donation drive to bolster the much-needed blood bank at Mengo Hospital. Mengo Hospital and Minet are the technical partners in this initiative which is part of a broader effort to increase the availability of safe blood across the nation. The initiative is part…
Baileys Launches Innovative Paper-Based Bottle Trial at Time Out Festival, Barcelona
Baileys, the renowned Original Irish Cream Liqueur, is breaking new ground with an exciting trial of its revolutionary paper-based bottle. In partnership with PA Consulting, Baileys is introducing a Dry Molded Fiber bottle that is 90% paper, featuring a thin plastic liner and a foil seal. This pioneering packaging solution will be showcased at the…
Africa Fintech Accelerator Program: Nigeria Dominates List of 20 Startups in the Continent
Only one Kenyan fintech startup has made it through into the second cohort of Visa’s Africa Fintech Accelerator program. Out of the possible 20 only CheckUps Medical Hub, an Embedded health Kenyan startup, made it to the shortlist. Tanzania got two representatives and Ethiopia also got one. The list is majorly dominated by West and Central African…
IFC AND ABSA TRADE FACILITY TO VOLCAFE TO SUPPORT THOUSANDS OF COFFEE FARMERS IN EAST AFRICA
IFC, a member of the World Bank Group, and Absa Group Limited, a South African-based bank, will provide an up to US$60 million commodity trade finance facility to Volcafe, a leading global green coffee merchant, to strengthen the company’s operations in East Africa, supporting tens of thousands of coffee farmers in the region. The financing…
Tanzania’s NMB Bank Lists Sustainability Bond on London Stock Exchange
NMB Bank PLC, Tanzania’s leading financial institution, has listed its maiden three-year US$ 73 million Sustainability Bond on the International Securities Market (ISM) and Sustainable Bond Market (SBM) Platform at the London Stock Exchange (LSE). Ms. Ruth Zaipuna, Chief Executive of NMB, said: “This extraordinary success highlights the strong confidence Tanzanian and global investors have in…
Dr. Juliet Ongwae Appointed to Fintech Association of Kenya Board
The Fintech Association of Kenya (FINTAK) has appointed Dr. Juliet Ongwae as a Board Director, effective May 20, 2024. Dr. Juliet currently serves as the Senior SupTech Specialist at the Cambridge SupTech Lab, University of Cambridge. She has over 20 years of experience in the digital financial services (DFS) sector. Her extensive background includes significant…
At 75, UBA leads African business transformation with innovative customer initiatives
The United Bank of Africa (UBA) has pledged to set the benchmark for African businesses by forging a united Africa, as it continues on its march towards connecting its customers to the global community, with a primary focus on facilitating seamless capital flow, trade, and investments across Africa and the global economy. Speaking at a…
SPIRO Secures $50M From Afreximbank to Boost Sustainable Transportation in Africa
Spiro, the largest electric vehicle company in Africa, is charging ahead in its mission to revolutionise sustainable transportation across the continent and it recently signed a heads of terms agreement for a $50 million debt facility with the African Export-Import Bank (Afreximbank) at the Africa CEO Forum in Kigali, Rwanda. A statement made available to…
Afreximbank and MobiHealth Sign Project Preparation Facility to Drive Digital Healthcare Solutions Across Africa
The African Export-Import Bank (Afreximbank) and MobiHealthCare Limited (MobiHealth) have signed a project preparation facility agreement that is expected to bolster the expansion of Mobihealth’s telemedicine services in Nigeria, and also assess the feasibility of establishing similar services in Egypt, Ghana, Kenya and Cote d’ Ivoire. Under the terms of the agreement, Afreximbank will part-finance…
UTB decides to register, license all tourism enterprises
The Uganda Tourism Board (UTB) has announced a comprehensive initiative to register and license all tourism enterprises in the country, aiming to identify and eliminate illegal operators. This move targets all unlicensed tourism enterprises, including hotels, restaurants, guest houses, tour operators, and travel agents, to ensure they comply with legal and industry standards. Lilly Ajarova, the…
Captains of Industry Series: Ms. Grace Muliisa – Transforming Banking in Uganda
A Trailblazer in Banking: Ms. Grace Muliisa In the dynamic world of finance, Ms. Grace Muliisa stands out as a transformative leader who has reshaped the banking landscape in Uganda. With a career spanning over two decades, Grace has risen through the ranks, from a fresh university graduate to the first female head of consumer…
New UNBS head questioned, Lawyers demand explanations
Controversy has arisen over the appointment of Eng James Kwesiga Nkamwesiga as Executive Director, of Uganda National Bureau of Standards (UNBS) announced last week. UNBS announced Nkamwesiga successful candidate from the selection exercise that started in January with the advertisement of the position until then occupied, in acting capacity, by Daniel Nangalama. The interviews featured…
Liberty Life Assurance Uganda introduces Kuza Plan that offers customers unparalleled flexibility
Liberty Life Assurance Uganda has introduced the Kuza Plan, a revolutionary financial product merging savings with life and disability insurance. Positioned as a beacon of security and adaptability, officials said at the luanch today that it caters to the needs of corporates and business people aged between 30 and 60, aligning seamlessly with their aspirations…
Eng. Nkamwesiga Kasigwa appointed UNBS Executive Director
The Minister of Trade, Industry, and Cooperatives, Francis Mwebesa, has appointed Eng James Nkamwesiga Kasigwa as the fifth Executive Director of the Uganda National Bureau of Standards (UNBS). In a statement, UNBS reaffirmed its commitment to fulfilling its mandate of developing, promoting, and enforcing standards to protect public health, safety, and the environment against dangerous…
Equity Group reports strong quarter one results, profit after tax up 25%
Equity Group Holdings has announced a remarkable recovery, posting a 25% growth in profit after tax for the quarter ended March 31, 2024. The Group’s profit after tax stood at Kshs 16 billion, a record high, driven by strong leadership decision-making and an agile balance sheet. The Group’s deposit growth slowed down to 11% compared…
Nicholas Lutakome appointed CEO of CIC Insurance Uganda
Nicholas Lutakome, the former CEO of Sanlam Uganda, has been named the New Chief Executive of CIC Insurance Uganda Limited. Mr. Lutakome was selected to succeed Mr Richard Ssevume who stepped down in November last year to join Mayfair Insurance. Kenyan giant CIC Insurance has not had stable leadership for its Ugandan subsidiary for over 6…
AutoXpress expands footprint in Uganda with State-of-the-Art facility
AutoXpress Ltd has announced the grand opening of its third branch in Uganda, further expanding its presence in the country. With over 66 years of experience in the automotive industry, AutoXpress boasts an extensive network of 80+ branches across East Africa, offering a comprehensive range of products and services. The new branch, located along Bombo…
BOU names StanChart the Best Performing Primary Dealer Bank in Govt Securities Market
Standard Chartered Bank Uganda has been named the best-performing Primary Dealer Bank in the Government Securities Market for the year 2022-2023, earning the honour for the second time since the inception of the awards 19 years ago. Primary dealing involves purchase and sell of government bonds and treasury bills through Bank of Uganda to generate…
Coca-Cola to end IPO dry spell with US$8 billion Africa bottler listing
Coca-Cola Co. is advancing plans for a significant initial public offering of its African bottling arm as soon as 2025, with a valuation that could exceed US$8 billion. This major financial move is set to end a period of sluggish activity on African securities exchanges and would be a significant morale boost for the continent’s…
Absa Bank spearheads water, sanitation upgrade in Karamoja
Absa Bank Uganda, in partnership with World Vision Uganda, has commissioned facilities to improve water and sanitation for the girl-child in Abim district, Karamoja. This intervention aims to promote the continued inclusion of girls in education across the Karamoja sub-region. The handover of a fully functional borehole and changing room facility will positively impact 900…
Uganda Tourism Board, Emirates sign partnership agreement to boost tourism
The Uganda Tourism Board (UTB) and Emirates Airlines have signed a partnership agreement aimed at promoting Uganda’s diverse tourism offerings to a global audience. The collaboration, announced by UTB CEO Lilly Ajarova, will showcase Uganda’s iconic tourist attractions, cultural landmarks, and natural wonders through promotional videos on Emirates’ inflight entertainment systems on the Entebbe-Dubai route.…
M-Pesa Boosts Safaricom’s Full-Year 2024 Earnings Despite Ethiopia Losses
Safaricom Plc has released its financial results for the full fiscal year of 2024, reporting robust earnings propelled largely by its M-Pesa mobile money platform. In its Kenyan operations, Safaricom witnessed a remarkable 11.7% growth in service revenue, totaling Ksh 329.8 Billion. EBIT surged by 20.4% to Ksh 139.9 Billion, while EBITDA increased by 16.6%…
Absa Uganda, DHL partner to empower 800 SMEs in export markets
Absa Bank Uganda and DHL Uganda have announced a partnership to support 800 Small and Medium Enterprises (SMEs) in accessing export markets through the 2024 ‘Growing Beyond Borders’ Entrepreneurial Training Programme. The programme aims to empower SMEs by enhancing their understanding of the economic potential of international trade and its benefits. Joseph Odole, Country Manager,…
EfD Takes Research findings to Parliament: Advocates for Regulatory and Policy Framework to Support Transition to Clean Energy for Households
A team of researchers from Makerere University Centre for Environment for Development Initiative (EfD-Mak Center) on Friday 3rd May 2024 went to Parliament to share study findings on Uganda’s heavy reliance on fuel wood and charcoal to guide the country and, in particular Members of Parliament in their policy formulation. Research fellows Prof. Edward Bbaale, Dr. Peter Babyenda,…
Uganda, Tanzania gear up for 2nd business forum to boost bilateral partnership
The 2nd Uganda-Tanzania Business Forum is set to take place on May 23-24, 2024, at the Johari Rotana Hotel in Dar es Salaam, Tanzania. The event aims to strengthen the longstanding ties between the two nations and foster economic cooperation. The forum, themed “Enhancing our win-win bilateral partnership,” will bring together government officials, private sector…
MTN Uganda posts strong growth across all segments in first quarter of 2024
MTN Uganda has its financial performance report for the first quarter ended 31 March 2024, indicating growth across all segments of the business. According to the report, despite MTN Uganda operating in a difficult business environment characterised by a struggling shilling, profit after tax increased 24.4% to Shs 150 billion while total revenue grew 19.5%…
Uganda Airlines Expands Fleet with State-of-the-Art Airbus A320
Uganda Airlines has taken a significant leap forward in its expansion plans with the arrival of a brand-new Airbus A320 aircraft at Entebbe International Airport. The 160-seat aircraft, configured with a 12-seat Business Class and a spacious 138-seat Economy Class, is set to revolutionize the airline’s operations on key routes. According to Uganda Airlines CEO,…
Captains of Industry Series: Mumba Kenneth Khalifungwa; Championing a Customer centric Banking Revolution in Uganda with #YourStoryMatters
Mumba Kenneth Khalifungwa is a distinguished leader serving as the Managing Director of Absa Uganda, bringing with him a wealth of experience and a visionary leadership style. His tenure has been marked by significant achievements and contributions to Absa Group’s transformative initiatives, notably the #YourStoryMatters brand promise. Under Khalifungwa’s leadership, Absa Uganda has witnessed remarkable…
AU, Google Africa Celebrate Africa’s Creative Economy
A thriving creative economy fuels innovation, jobs, and economic growth across Africa. Recognizing this potential, the African Union and Google Africa have joined forces to launch the #DiscoverMyAfrica Shorts Challenge, a month-long campaign of the continent’s rich diversity, heritage, and vibrant spirit. In celebration of Africa Month, YouTube creators across Africa have been invited to share…
Ford Foundation, EACJ Explore Collaborative Pathways to Bolster Justice and Civic Space across the Region
East Africa Regional Director for the Ford Foundation Jessica Horn paid a courtesy call on the Judge President of the East African Court of Justice (EACJ), Justice Nestor Kayobera, at the EACJ offices in Arusha, Tanzania. In their meeting, the two leaders explored avenues of collaboration and discussed the Foundation’s initiatives in bolstering justice, expanding…
Jubilee Insurance executive sees the future of insurance in technology
Technology is the major catalyst for spurring insurance uptake and penetration in the foreseeable future according to Jubilee Life Insurance’s Diana Ndege Ssempasa. Ssempasa who was speaking at the 13th Annual Insurance Agents Awards held recently at Speke Resort Munyonyo said emerged as the second runners-up agent of the year 2023. “As the foot-soldiers, we need…
MTN Uganda firms market grip with 500,000 new customers
MTN Uganda has strengthened its grip on the mobile networks market, growing its new customer base by more than 500,000 in the past four months to hit 20 million. The telecom company’s subscribers stood at 19.5million as at the end of December 31, 2023, according to its annual financial results. “This achievement underscores our commitment…
aBi launches UGX 66.8 billion facility to support 200,000 small holder farmers build climate resilience
The Agricultural Business Initiative (aBi) has launched two innovative programs worth Ushs66.8 billion to revolutionize Uganda’s agricultural sector and tackle the climate crisis. The Green Agrifood System Programme (GRASP) and Accelerating Adoption of Green and Inclusive Finance (AAGIF) aim to empower small-holder farmers, promote sustainable agriculture, and bridge the funding gap for agribusinesses. This ambitious…
Kenya’s Economic Growth Rate to Slow to 5% in 2024-IMF Forecast
Kenya’s Gross Domestic Product (GDP) growth is projected to slow down to 5% in 2024 from 5.3% in 2023 before jumping to 5.3% in 2025. Apart from Kenya, Côte d’Ivoire and Benin, other frontier markets are expected to start issuing Eurobonds in 2025 or later. This will help ease the funding squeeze in those countries…
Africa’s $824bn Debt Burden is Hindering its Potential-AfDB President
Africa’s massive debt load and the nature of many of its resource-backed loans are compromising its economic potential, the African Development Bank’s (AfDB) President Akinwumi Adesina said recently. “I think it’s time for us to have debt transparency accountability and make sure that this whole thing of these opaque natural resource-backed loans actually ends, because…
Asante Financial Services and Interswitch Introduce Agent Float Financing for Quickteller Agents
In a strategic move to improve financing for Quickteller agents, Asante Financial Services Limited and Interswitch have partnered to unveil a pioneering credit service called Agent Float Financing. The new service, which was designed to cater to the distinct credit needs of Quickteller agents, will provide affordable loans to active Quickteller agents who have been…
I&M Bank Uganda Partners with Nnaabagereka Fund for Inaugural Queen’s Ball
I&M Bank Uganda has partnered with the Nnaabagereka Fund for the inaugural Queen’s Ball, a prestigious dinner event aimed at supporting women, youth, and children in Uganda. The Queen’s Ball, scheduled to take place on May 9, 2024 at the Kampala Serena Hotel’s Victoria Ballroom, aims to raise public awareness and funds dedicated to shining…
Johnson & Johnson talc settlement shows limits of bankruptcy tactics
Johnson & Johnson had received scorn for executing the so-called Texas Two-Step bankruptcy strategy. The healthcare titan was facing thousands of claims about allegedly carcinogenic talcum powder. Taking advantage of a quirk in Lone Star State law, it created a subsidiary called LTL to segregate those claims. It then had LTL file for bankruptcy so…
Pharmaceutical company boosted as supplementary budget is approved
Parliament has approved a supplementary expenditure budget worth Shs1.106 trillion for settling the offtake arrangement between government and DEI Pharmaceuticals, wage and pension and gratuity shortfalls. During plenary on Tuesday, 30 April 2023, the Deputy Chairperson of the Budget Committee, Achia Remigio presented the committee’s report approving the supplementary. Achia said the government has initiated…
Carrefour backs Kyambogo Ultra Challenge with UGX 7 million sponsorship
Carrefour, operated by Majid Al Futtaim in Uganda, has announced a UGX 7 million sponsorship of the Kyambogo Ultra Challenge Run, scheduled for May 4th, starting at the Kyambogo University Cricket Oval. The Kyambogo Ultra Challenge Run, held annually since 2010, is the first ultra-challenge marathon organized in Uganda. It serves as a fitness test…
UK sanctions corrupt politicians in Uganda who stole from vulnerable communities
LR: The Speaker of the Parliament, Anita Annet Among, Mary Goretti Kitutu, the Minister for Karamoja Affairs between 2021 and 2024, Agnes Nandutu, the State Minister for Karamoja Affairs between 2021 and 2024. The UK has imposed sanctions on Ugandan politicians charged with corruption. Deputy Foreign Secretary, Andrew Mitchell, has announced sanctions on…
Absa Life Assurance Posts 90% Jump in Profits to KSh 862m
Absa Life Assurance Kenya (Absa Life), an Absa Group subsidiary, has reported an increase in gross profit to KSh 862 million in 2023. “Absa Life continues to maintain a healthy quality of portfolio in the products we provide to the market and the policies that we underwrite, which is a clear testimony to the value…
SLB hailed for supporting Ugandan women in science and technology
Wallace Pescarini, the President of SLB Offshore Atlantic Basin // PHOTO COURTSEY Ernest Rubondo, the Executive Director of the Petroleum Authority of Uganda, has commended SLB (formerly known as Schlumberger) for its efforts in advancing women in Science and Technology. SLB is one of the firms that was contracted by TotalEnergies for drilling, completions, and production…
Bancassurance’s Transformative Impact on Uganda’s Insurance Market
In the ever-evolving landscape of financial services, one term has been making significant waves – Bancassurance. This harmonious combination of banking and insurance not only simplifies a complex concept but also creates a dynamic synergy that benefits both the banking and insurance sectors. Bancassurance, at its core, is about banks and insurance companies joining forces…
TotalEnergies Empowers Employees in Uganda Through Unprecedented Share Ownership
In a groundbreaking move, TotalEnergies, a global leader in energy production and innovation, is revolutionizing employee engagement and empowerment, extending its transformative initiatives to its workforce in Uganda. This strategic shift not only aligns with TotalEnergies’ ethos of sustainability and inclusivity but also signifies a paradigm shift in employee ownership and participation within the company.…
CBK Weekly T-Bills Auction Undersubscribed for the First Time in Months
The Central Bank of Kenya (CBK) Weekly Treasury Bills Auction underperformed for the first time in 8 months. Bids received by the fiscal agent at this week’s auction amounted to KSh 23.6 billion, a performance rate of 98.2%, with the monetary authority accepting KSh 23.2 billion and rejecting KSh 400 million. The most attractive instrument remained the…
TotalEnergies Ranks 1st in Employee Shareholder Ownership in Europe at over €11 billion of its Capital
Paris, April 26, 2024 – Employee shareholder ownership is the best way to associate the employees with the Company’s transition strategy, and therefore it is at the heart of TotalEnergies’ value sharing policy. Therefore, on April 25, 2024, TotalEnergies’ Board of Directors has validated several such initiatives, including: TotalEnergies ranks #1 in employee shareholder ownership in…
Salaam Bank Uganda named best new Islamic Bank at IFN Global Awards
Salaam Bank Uganda, a provide of Shariah-compliant financial services, has won the Best New Islamic Bank award at the prestigious Islamic Finance News (IFN) Global Awards, 2024. The coveted global award recognises the bank’s commitment to providing innovative and customer-centric shariah-compliant financial solutions, as well as its significant contributions to the growth and development of…
Centenary Bank gives 13th Rotary Cancer Run a sh300million boost
Rotary International President Representative Brenda Cressey and speaker Anita Among at the 2024 Cancer Run launch at Nsambya Hospital. Looking on right is Fabian Kasi the Managing Director of Centenary Bank (right Centenary Bank, together with its subsidiary, Centenary Foundation have announced their platinum sponsorship of sh300million, for the 2024 edition of the Rotary Cancer…
Uganda Baati launches 60th-anniversary campaign
Uganda Baati has launched its 60th anniversary campaign at a media event held in Kampala today. Founded in 1964, Uganda Baati has been at the forefront of the steel manufacturing industry, introducing numerous advancements and achieving many firsts in Uganda and the region. It was the first company in the East African region to set…
Global electric car sales grow strongly, 2024 sales set to reach 17 million
The world’s electric car fleet continues to grow strongly, with 2024 sales set to reach 17 million. Despite near-term challenges in some markets, based on today’s policy settings, almost 1 in 3 cars on the roads in China by 2030 is set to be electric, and almost 1 in 5 in both the EU and…
AfDB Sanctions Chinese Firm for Graft in Uganda
The African Development Bank Group (AfDB) has reached a negotiated settlement with China Henan International Cooperation Group over failure to disclose it used a commission agent for a road project in Uganda. China Henan found itself on the wrong side of the AfDB’s Office of Integrity and Anti-Corruption after it submitted a bid for civil…
Blockbuster: Mtn revenue, customer growth recover a year under Sylvia Mulinge’s realm
Sylvia Mulinge, CEO MTN Uganda MTN Uganda reports a 16.1 percent growth in revenues to 2.63 trillion shillings for the year 2023. Most of the revenues, (1.12 trillion) still came from voice services which grew by 11.6 percent, while the fastest growing segment was revenue from the use of data. It maintained its position as…
Bamburi cement officially sells 100% of its shares in Uganda’s Hima Cement
Photo Courtesy: Bamburi Cement PLC Bamburi Cement PLC has sold 1.3 million ordinary shares of its Ugandan unit to Sarrai Group Limited and Rwimi Holdings amidst shrinking demand in the cement market. The cement company revealed plans to relieve its indirect ownership of Hima Cement Limited last year in November, stating that it wished to…
Standard Bank Group appoints Anne Juuko to new role as Global Markets Head for East Africa
Anne Juuko The Standard Bank Group has appointed Stanbic Bank Uganda Chief Executive Anne Juuko to a new leadership role as Global Markets Regional Head-East Africa. The appointment is effective 1 April 2024. A successor will be announced in due course. Kayode Solola, the Standard Bank Group Executive Head for Global Markets—Africa Regions said, “I congratulate Anne on…
Housing Finance Bank, EIB Inject €25m in Female-led Ugandan Businesses
Michael Mugabi, Managing Director/CEO of Housing Finance Bank highlighted what he described as the bank’s strategic focus on enabling micro, small, and medium enterprises (MSMEs), especially those owned by women. Uganda’s Housing Finance Bank (HFB) has joined forces with EIB Global, the investment arm of the European Investment Bank (EIB), to inject €25 million into…
NSSF Assets Under Management hit a record Ushs 20 trillion
NSSF Managing Director Patrick Ayota. The National Social Security Fund (NSSF), Uganda’s national savings scheme, has hit Ugshs 20 trillion in Assets Under Management (AUM), one and a half years ahead of schedule, according to the Fund’s 10-year Strategic Plan. In 2015, the Fund launched the 2015-2025 Strategic Plan, with a key strategic objective to…
UEDCL registers a 10.5% surge in revenue
The Minister of Energy and Mineral Development, Ruth Nankabirwa who chaired the AGM said the government is committed to supporting UEDCL as it prepares to take over Umeme territory to ensure the sustainability of power supply – a key factor for running the economy. State-owned Uganda Electricity Distribution Company Limited has recorded a 10.5% surge…
Unveiling Africa’s Investment Horizon: Key Insights from the 7th Pensions Funds and Alternative Investments Conference
As the global investment landscape continues to evolve, Africa stands at the forefront of emerging opportunities, poised for sustainable economic growth and development. Recently, the 7th Pensions Funds and Alternative Investments Conference provided a platform to delve into the continent’s investment potential, drawing attention to pivotal themes shaping the future of finance in Africa. From…
World Wildlife Day: Tracing Uganda’s Efforts in Connecting People to the Planet
Chimpanzees: Photo: Internet As the world gears up to celebrate World Wildlife Day today, Uganda stands at the forefront of efforts to connect people with the planet, particularly in the realm of wildlife conservation, and several success stories have been registered in that regard. As of January 2022, Uganda’s wildlife enjoyed significant conservation success including…
Pepsi’s Redesign Journey: Balancing Heritage with Innovation in Uganda’s Beverage Market
Introduction: In a bold move that signals a new era for the iconic beverage brand, Pepsi recently unveiled its first major global redesign in 14 years. Rooted in its rich heritage yet embracing the future with vigor, Pepsi’s updated look has sparked conversations worldwide. But what does this mean for the Ugandan market, where Pepsi…
Grace Semakula Appointed New Chief Executive for SBG Securities Uganda
COURTESY PHOTO: Grace Semakula, Newly appointed Chief Executive for SBG Securities Uganda Limited (SBGS) Stanbic Uganda Holdings Limited (SUHL) has appointed Grace Semakula as the new Chief Executive for SBG Securities Uganda Limited (SBGS) and by virtue of that position, an Executive Director on the company Board, effective March 1, 2024. Semakula who was previously…
NCBA launches Premier Banking Offering for high value stakeholders
Courtesy Photo: Chief Executive Officer, Mark Muyobo NCBA Bank unveiled its revamped Premier Banking offering, targeting premier banking customers, prospects, and high-value stakeholders. The key features of the enhanced offering include extended banking hours at select branches, allowing customers to enjoy greater convenience. Additionally, customers now have access to online and mobile banking platforms for…
Admassu Tadesse: A Visionary Leader Shaping Africa’s Financial Landscape.
From Pinterest: Admassu Tadesse, TDB Group President and Managing Director Admassu Tadesse Admassu Tadesse stands at the forefront of Africa’s financial industry, wielding his expertise and leadership to drive growth and development across the continent. As the Group President and Managing Director of the Trade and Development Bank Group (TDB Group), Tadesse’s remarkable journey is…Captains Of Industry: Manoj Murali led digital empowerment at NAM
Manoj Murali, Managing Director, Airtel Uganda Airtel Uganda’s Managing Director, Manoj Murali, Leads Digital Empowerment Efforts at NAM Conference. In a dynamic world reshaped by technology, Airtel Uganda’s Managing Director, Manoj Murali, emerged as a visionary leader advocating for the pivotal role of developing countries in driving digital transformation. At the recently concluded NAM conference…
DTB and TerraPay partner to significantly cut costs of remittances
Courtesy Photo: Varghese Thambi, Managing Director, Diamond Trust Bank and TerraPay’s Muyingo A new partnership between Diamond Trust Bank and payment services company, TerraPay, could cut by more than half the cost of sending money from other countries to Uganda. Currently, it costs an average of 6.2 percent to send money between countries, and about 7.3…
Anne Juuko set to exit Stanbic Bank Uganda
Courtesy Photo: Anne Juuko Anne Juuko is set to leave her position as Stanbic Bank Uganda’s Chief Executive Officer, after exactly four illustrious years, for another role in the Standard Bank Group. According to the information available, she will be heading to Nairobi, Kenya where she will take up the new role of Regional Head,…
How to tag ESG to your brand
Meeting in progress. Photo: Internet Environmental, Social, and Governance (ESG), as complex as it sounds is merely a set of standards that investors use to screen investments. The investments are screened through accelerated sales, and ESG is currently the framework for companies to drive their long-term revenues through investing in Environmental, Social, and Governance projects…
ESG: Here are the 2024 trends to look out for
ESG is a framework used to assess an organization’s business practices and performance on various sustainability and ethical issues. Photo: Internet Environmental, social, and governance (ESG) is now no longer a new concept but a reality resulting from the popularity it has gained over the past few years. This popularity is anchored on its potential…
LEVERAGING THE ABSA FINANCIAL MARKETS INDEX: A BLUEPRINT FOR LOCAL BRANDS TO THRIVE
In the dynamic landscape of global finance, staying informed about the pulse of financial markets is imperative for businesses, especially local brands striving to make a mark across the continent, and as Publicist East Africa, in partnership with Brand Africa 100, we have the responsibility to inform industry players about available opportunities for investment across…
Navigating Financial Waters: Implications of EFC Uganda Limited’s Liquidation on Uganda’s Economic Landscape
DR. Julia Clare Olima Oyet, the esteemed CEO of DPF, has expressed satisfaction with the unprecedented speed at which the settlement of EFC claimants is being handled. Remarkably, claimants are set to receive their compensations within an impressive 10 days of the bank’s closure, setting a new benchmark in financial sector responsiveness. In a significant…
Uganda’s Financial Sector Embarks on a Sustainable Journey: A Boon for National Brand.
If Uganda emerges as a pioneer in sustainable finance within the region, it positions the country as a leader in responsible financial practices. This leadership role can enhance diplomatic relationships, partnerships, and collaborations with other nations committed to sustainability.
NAM Updates: President Museveni Holds Strategic Meeting With Egyptian Investors
In a bid to strengthen the bilateral relations between Uganda and Egypt, President Yoweri Kaguta Museveni on Tuesday held a meeting with key Egyptian investors at State House, Entebbe, during which they discussed trade opportunities between the two countries for the New Year. The Egyptian delegation, which is Uganda for the Non-Aligned Movement (NAM) summit,…
Celebrating Excellence: Brand Africa Unveils Uganda’s Best Brands
On June 3, 2022, Brand Africa, in collaboration with Publics Africa Communications, hosted a captivating live event at the prestigious Protea Hotel Kololo in Kampala, Uganda.
CEO Shuffle: Safaricom Ethiopia Poaches Vanhellepute As Mulinge Settles In At MTN Uganda
The telecom industry in East Africa is abuzz with news of an unprecedented CEO swap between Safaricom, Kenya’s leading telecommunications provider, and MTN Uganda, a subsidiary of the multinational MTN Group.
Brand Africa100 Awards 2023: African Brands Slip To 14% Of Top Most Admired Brands As Non-African Brands Pick Up
The popular annual Brand Africa 100 Awards are back, bigger and better this year and are scheduled to be held on July 6th, 2023 in Kampala.
Equity Bank unveil high-tech contact centre
As one of the strategies to further improve customer experience and deliver services to its customers conveniently, Equity bank has launched a high-tech contact centre. The new Contact Centre will allow the Bank to deliver improved support conveniently to the nearly 1.6 million customers 24/7. Customers will be able to interact with highly trained customer…
MTN Uganda’s New CEO, Sylvia Mulinge Assumes Office
MTN Uganda’s new Chief Executive Officer, Ms. Sylvia Mulinge has assumed office following the exit of former CEO, Wim Vanhelleputte, who was promoted to a regional executive role responsible for MTN Group’s West African markets. Ms. Mulinge whose tenure in office commenced on 1st October 2022 becomes the first-ever female CEO at MTN Uganda, bringing…
NSSF, Ideawake partner to expand access to Hi-innovator programme to more Entrepreneurs in Uganda
The National Social Security Fund (NSSF) has announced a partnership with Ideawake, a global innovation software company, to expand access to the NSSF Hi-Innovator programme to more entrepreneurs across the country. In 2021, the Fund launched the NSSF Hi-Innovator programme, an innovation initiative in partnership with Mastercard Foundation that aims to create an environment where…
Uganda Breweries hosts farmers in symposium to promote Buy Uganda Build Uganda agenda through the Local Raw Material (LRM) program
Uganda Breweries Limited hosted farmers to a forum to discuss the potential to scale up farming to supplement government efforts to see manufactures embrace full sourcing of raw materials they use in their production processes locally. The forum which ran under the theme Agriculture as an Enabler to the Buy Uganda Build Uganda Agenda brought…
Why internet is so expensive in Uganda compared to other countries in East Africa
Uganda’s telecom companies have invested heavily in infrastructure services to boost internet access but the low users have limited their ability to lower internet costs for their customers including the Small and Medium Enterprises. Enid Edroma, the general manager, Corporate Affairs at MTN Uganda says only about 35% of their customers are using smartphones. “We…
HFB unveil Online Gov’t Security Portal that allows customers to buy treasury bills and bonds
Today, Housing Finance Bank officially launched its Government Securities Portal with a campaign dubbed” Invest On The Go” at Mestil Hotel and Residences, Kampala. The online portal, which is housed on the Bank’s website allows customers to buy Treasury Bills and Bonds from anywhere, at any time. The Housing Finance Bank Securities Portal is the…
Absa Bank Uganda has a New Chief Risk Officer
Guy Kimbowa Lutaaya has been appointed Chief Risk Officer (CRO) at Absa Bank Uganda Limited effective 1 October 2022. He is a seasoned finance professional and banker, with over 20 years of experience in finance and over 13 years of experience in banking. In his new role, he will be responsible for leadership and oversight…
Safeboda, Jumia and 24 radio stations banned by UCC for operating illegally
The Uganda Communications Commission (UCC) has issued a public notice ordering the immediate closure of 24 radio stations and 46 courier companies for operating illegally. Notable among the couriers banned include Jumia Uganda and SafeBoda operating in Kampala. UCC in a notice published in New Vision last week indicated that, “according to Sections 26, 27…
KCB Pumps Over Kshs 120B to Support Oil Marketing Companies
KCB Bank Kenya has injected over KShs. 120 billion to support Oil Marketing Companies (OMCs) importing fuel as it seeks to consolidate its support to the energy sector. The Bank has been facilitating oil importation into the country by financing the oil firms under its portfolio that have won business under the Open Tender System…
MTN Uganda joins the league of Africa’s Top 250 Companies
MTN Uganda’s bold decision to list its shares on the Uganda Securities Exchange last year has propelled it to the league of Africa’s most valuable companies. The latest premier annual survey by South Africa’s African Business Magazine on Africa’s Top 250 Companies, ranked MTN Uganda in the 105th position, with a market capitalisation of US$1.124billion…
Google suffer a setback, European Court fines it USD 4Billions
Google (GOOGL) suffered one of its biggest setbacks on Wednesday when a top European court fined it 4.125 billion euros ($4.13 billion) for using its Android mobile operating system to thwart rivals, offering a precedent for other regulators to ratchet up pressure. The unit of US tech giant Alphabet had challenged an earlier ruling, but…
UNOC’s Nabbanja nominated CEO of the Year
Ms. Proscovia Nabbanja, Chief Executive Officer, Uganda National Oil Company has been nominated in the African Energy Awards 2022 as Chief Executive Officer of the year. Taking place during African Energy Week (AEW) – Africa’s premier event for the oil and gas sector scheduled for October 18 – 21 in Cape Town – this year’s…
MTN’s Business Intelligence manager advises youth to startup businesses focused on niche markets to excel
Local startups need to focus on niche markets that they can tap into to excel for better survival and longevity of their businesses, according to Mackinon Kabarole, Senior Manager, Business Intelligence at MTN Uganda. Mackinon, who spoke to the youth undergoing MTN Youth Skilling Program in a virtual interview under the theme ‘Data as a…
MTN Mobile Money customers to earn UGX 5.7 billion interest pay-out for their mobile money balances for the quarter ended 30th June 2022
The benefits of separation of Mobile Money from the telecommunication business are beginning to be noticed as MTN Mobile Money customers are scheduled to receive UGX 5.7 billion interest pay-out for the quarter ended June 30, 2022. MTN Mobile Money Uganda Limited was separated from its parent company, MTN Uganda, in May last year pursuant…
Uber, Bolt resume business in Tanzania
Uber and Bolt have announced plans to resume operations in Tanzania, after weeks of controversy. The companies were forced to suspend services in Tanzania following the government’s regulatory changes that were enforced effectively from March, 2022. In March this year, the Land Transport Regulatory Authority (Latra), which sets and approves fares for ride-hailing operators in…
MTN Uganda congratulates His Majesty the Omukama of Tooro upon his 27th coronation anniversary
MTN Uganda and the Kingdom of Tooro have enjoyed a cordial relationship over the years. This is envisaged through the various initiatives jointly undertaken by the kingdom and MTN. This partnership is underpinned by a cooperation agreement signed between MTN Uganda and the Kingdom of Tooro, back in 2019. The Omukama Rukirabashaija Oyo Nyimba Kabamba…
Awori to resign as Absa Bank Kenya Chief Executive
Absa Bank Kenya CEO Jeremy Awori is set to resign in October after a ten-year stint that saw the lender rebrand from Barclays bank to Absa. According to the lender’s board, Awori is stepping down to pursue a different career opportunity. The Board has initiated the process of identifying a suitable successor and will announce…
PostBank injects UGX 80M towards Value Addition for Small-Medium Enterprises
Stakeholders in the banking sector say financial literacy and skills development should be prioritized in efforts to support Small and Medium Enterprises (SMEs) recover from covid-19 frustration, Speaking during the Signing of MOU btn Post Bank and Federation of small and medium sized enterprise, Julius Kaketo, the managing director of Postbank notes that it is…
Prudential unveil the Safety Steps road safety campaign
Prudential Uganda and Prudence Foundation launched the SAFE STEPS road safety campaign, a public service program aimed at raising awareness about road safety, by providing clear and simple life-saving messages on road safety. The initiative was created and developed by Prudence Foundation, the community investment arm of Prudential, in partnership with the Federation Internationale de…
Priscilla Akora Appointed New Head of Marketing and Communications at PostBank Uganda Limited
Priscilla Akora is the new Head of Marketing and Communications at PostBank Uganda Limited. In her new role, she will be responsible for driving integrated marketing communications, as well as a reputational strategy for PostBank. Prior to her appointment as the Head of Marketing and Communications, Priscilla worked as Marketing Manager, PostBank Uganda where she…
African Development Bank sponsor of African Green Revolution Forum (AGRF)
African Development Bank Vice President Dr. Beth Dunford speaks at a pre-AGRF Summit event centered on the Bank's new African Emergency Food Production FacilityThe African Development Bank returns as a top-tier partner of the African Green Revolution Forum (AGRF) – Africa’s largest agriculture conference – taking place in Kigali, Rwanda, from 6-9 September 2022.On Monday,…Uganda Clays Register a Drop in Profits in the First Quarter
Uganda Clays net profit has dropped by more than half to Shs2.7bn for the first six months ending June.30 but management insists there are no worries at least for now. “We project the economy to improve in the second half of the year resulting in a steady growth in revenue,” the company said in published…
DTB record 30% Growth in Profits after tax in the First Quarter of 2022
DTB recorded a 30% growth to Shs20.3bilion driven by an increase in interest income, fees and commission, and foreign exchange business as Dfcu bank saw profit after tax double to Shs18.7billion. On the other hand, the country’s largest commercial bank, Stanbic Bank saw its net profit increase by 4.6% from Shs154.85billion to Shs162billion during the…
URA unveil lifestyle audit policy to offset corruption and illegal acquisition of property
On 30th August 2019, the URA Board of Directors approved the Lifestyle Audit Policy to combat corruption and illegal acquisition of property. Lifestyle Audit is the process of analyzing a person’s living standards to establish if it is consistent with his or her known source(s) of income. Lifestyle audits – also known as lifestyle checks…
Stanbic Bank records USD 40M transaction growth in East Africa borderless platform
The phenomenal growth of Stanbic Bank’s East Africa Borderless Banking platform has revealed a pent-up demand for secure, real-time transactions across international borders. Spanning a single network that includes Uganda, Tanzania, Kenya and South Sudan, the Borderless Banking solution has grown exponentially starting January 2021 to March 2022, at a rate of USD40million of transactional…
Absa sign partnership with Uganda Institute of Information and Communication Technology
Absa Bank Uganda has partnered with the Uganda Institute of Information and Communication Technology (UICT) to provide ICT skills training to youth in vocational institutions around the country. The training is accredited by Amazon Web Services (AWS) following a partnership between AWS, a leading cloud services provider and Absa Group in 2021. Collectively a total…
Cipla announces dividend payment 4 years after being listed
Cipla Quality Chemical Industries Limited, has announced that it will pay dividends in 4 years since it was listed on the Uganda Stock exchange. In the results for the financial year ending March 31, 2022, Cipla posted a profit after tax of Sh 24B, up from a loss of Sh11B in the previous year. The…
FINCA, NFA unveil Shs 100million partnership deal to restore 60 hectares of forest land
FINCA Uganda and the National Forestry Authority (NFA) have partnered to restore 60 hectares of forest land in the country in the next five years. This corporate social responsibility program to commemorate FINCA’s 30th anniversary in Uganda will involve restoration planting in 10 central forest reserves across the country. The restoration initiative is worth sh100million.…
BAT Uganda register growth in profits for the half year period ended June 30
British American Tobacco Uganda has recorded a 14% increase in net profit to Shs3.9bn for the half year period ended June 30. Results released on Aug. 5 shows that the company’s gross revenue grew by 12% to Shs 50.7bn as a result of an increase in sales volume and product mix compared to the same…
ADB appoints Dr. Alex Mubiru as Director General, Cabinet Office
The African Development Bank has appointed Dr. Alex Mubiru as Director General in the Cabinet Office of the Bank Group’s President, with effect from 16 August 2022. Dr. Mubiru, a Ugandan national, brings close to 25 years of experience to the position, with a proven track record in the various positions he has held at…
KCB Group ventures into DRC
Regional lender, KCB Group, has followed the footsteps of Equity Bank to venture into the Democratic Republic of Congo. KCB Group, which already has operations in Rwanda, Burundi, Tanzania, Uganda and South Sudan, says it has reached an agreement to acquire 85% shares in TMB with the existing shareholders holding the remaining balance for a…
CORPORATE WCW: Asmahaney Saad, Managing Partner, KTA Advocates
Asmahaney is an advocate, a legal consultant and an Alternative Dispute Resolution practitioner. Asmahaney is also a Committee member on the first ever appointed Investment Advisory Committee (IAC) that advises the Minister of Finance, Planning and Economic Development on the Petroleum Revenue Investment Reserve fund( under the Public Finance Management Act), a Non- Executive Director…
Despite Economic Hardships, MTN profits grew by almost half to UGX 193.6Bn
Telecommunication companies have reported that their operations over the last six months have been affected by what they call a difficult macroeconomic environment, characterized by the skyrocketing cost of living and foreign exchange rate. According to the Uganda Bureau of Statistics, the inflation rate rose for the eighth consecutive month at the end of July,…
MTN Uganda adds aYo insurance products to its Senkyu loyalty program in a move lauded by IRA and IBAU
Tuesday 9th August 2022 – Kampala, Uganda: MTN Uganda customers can now use their MTN Senkyu loyalty points to get insurance from aYo, in the form of life or hospital cover. aYo provides fast, convenient, easy-to-use hospital and life cover directly to a user’s mobile phone, and over the last 5 years has enrolled 16…
Xente tech officially a PSO
Xente Tech Ltd, a financial technology platform that simplifies payments and finance for businesses, has obtained the Payment Systems Operator (PSO) license from Bank of Uganda. The National Payment System Act-2020, implemented under the National Payment Systems Regulations, seeks to drive digitization of Ugandan entities as well as streamlining payment systems operators in Uganda. “We…
Djibouti based-bank takeover Top Finance Bank
Uganda’s Top Finance Bank (TFB) has officially been acquired by a Djibouti based bank. The takeover of TFB by Salaam African Bank was confirmed Monday morning by the Bank of Uganda which approved the transaction. “This is to inform the general public that M/s Salaam African Bank (hereafter SAB) with its Headquarters in Djibouti has…
Why Communication is highly important in the Oil and Gas Industry
Corporate communication and Public Affairs is a very important business tool that is vital for the success of any business, company, organization, or association. At a time like this of rapid, economic & technological transformation, the communication profession has never been more valuable to an organization’s purpose, mission, and strategy. The relationship between business and…
PROFILE: Lawyer Edgar Tabaro appointed as Special Envoy of the President of Sudan
Top Ugandan lawyer, Edgar Tabaro, has been appointed as a Special Envoy of the President of Sudan’s oldest political party. Tabaro will serve as the Mahdi’s special envoy in the East African region. Tabaro observed: “The appointment gives immense opportunity to deepen and widen the debates commenced at University College of Dar es Salaam in…
Cente-Tech, Sunbird AI partner to deploy Artificial Intelligence in Uganda
Sunbird AI, a non-profit organization that develops artificial intelligence systems for social impact in Africa has signed a Memorandum of Understanding (MoU) with Centenary Technology Services geared towards developing the Artificial Intelligence based innovation ecosystem to facilitate the usage of technology and development of the software applications in Uganda. The strategic partnership is aligned towards…
Entebbe Airport could be the Regional Hub for passengers traveling through East Africa
Uganda has scrapped taxes on airlines using the Entebbe International Airport, a move that will make it cheaper for transiting passengers to travel through the facility. The move, which may not augur well for Jomo Kenyatta International Airport (JKIA), which has for years claimed the status of being the regional hub for transit passengers, may…
MTN Uganda crowned Most Admired African Brand in Uganda
MTN once again got crowned as Uganda’s most admired African brand in Uganda by Brand Africa 100 | Africa’s Best Brands rankings, based on a survey carried out across 29 countries that represent as much as 85% of the continent’s GDP and population by GeoPoll, the world’s leading mobile surveying platform, with strategic analysis, insights and…
The World Bank, UBOS disagree on the National Accounts Aggregate used to determine Uganda’s Economic Status
The Uganda Bureau of Statistics-UBOS and the World Bank have disagreed on the methodology used in determining the country’s economic status. They will however release a joint statement in the next 24 hours on Uganda’s status. In his State of the Nation Address on June 7, President Yoweri Museveni said that Uganda would achieve the…
If “Uganda is Home”, a ugandan should have been appointed
Ugandans took to social media to criticize the appointment of Sylvia Mulinge, a Kenyan Corporate Executive, with some arguing that after listing on the stock exchange and unveiling the slogan “Uganda is Home,” a Ugandan should have been appointed. Ms Mulinge got the same reception when she was appointed to head Vodacom Tanzania. It was…
PROFILE: Grace B. Muliisa, Managing Director, Ecobank Uganda Limited
Grace B. Muliisa, is a Ugandan Banker and Corporate executive, who was appointed the Managing Director of Ecobank Uganda Limited in August last year. She was the Head Personal and Business Banking at Stanbic Bank Uganda prior to her appointment. Grace is an earnest professional with over 20 years experience in the Banking Sector, across…
World Bank rules out claims of Uganda being a Middle-Income Economy
The World Bank has put the per capita income of Uganda at 850 dollars for the financial year end 2022, with the economy growing at an estimated 3.7 percent. According to the Bank, this average income by a Ugandan is far below the lower-middle-income threshold of 1,045 dollars that was stated by President Yoweri Museveni…
Sylvia Mulinga becomes MTN Uganda CEO and MTN Rwanda CEO Mitwa Ng’ambi becomes CEO of MTN Cameroon
Sylvia Mulinge becomes MTN Uganda CEO, joining from Safaricom, where she served as Chief Consumer Business Officer for the Group. A seasoned executive, she brings with her a passion for transforming customers’ lives using technology. Mulinge replaces Wim Vanhelleputte, who will take on the new MTN Group role of Operations Executive: Markets. In this position,…
Roman Catholic Church joins in opposing the EACOP project, Minister urges companies to open activity areas to public
The government, oil and gas companies continue to counter opposition to the development of the sector in Uganda, which has recently targeted religious institutions. The crusaders accuse the government of allowing activities that they say will affect the livelihoods of mainly poor Ugandans as well as harm the environment. The Minister for Energy and Mineral…
NSSF, the second largest shareholder of MTN Uganda receives Ugx 9.3B dividend pay for the year 2021
Following approval of declaration of dividends by its shareholders at the Annual General Meeting held on the 27th day of May 2022, MTN Uganda has paid out a total dividend of Ugx105.4 billion to its 21,452 shareholders for the year ended 31st December 2021. Each shareholder, registered on the books of the company by 01 June…
RICHARD BYARUGABA: Our procurement report for the FY 2021/22 indicates that local firms receive 90% of business from the Fund albeit of low value while only 10% goes to international firms
The National Social Security Fund (NSSF) has put in place initiatives to support local firms’ capacity, growth and competitiveness for better business opportunities. The initiatives that are already in practice include, the NSSF Suppliers Forum, access to finance through advance payments for high value works, reserve of services, supplies or works to local firms in…
PwC named lead firm in search for new CEO Uganda Airlines
Mr Waiswa Bageya, the Works Ministry permanent secretary, said the search for the new Uganda Airlines CEO would be redone after bid documents were sent to four firms, before settling on PricewaterhouseCoopers (PwC). “We did not advertise but instead developed a bid document and terms of reference that were sent to KPMG, Ernst & Young,…
Court blocks sale of Kampala City Tycoon and Businessman, Patrick Bitature’s Properties
Uganda’s Court of Appeal has blocked South African moneylender, Vantage Mezzanine Fund, from selling businessman Patrick Bitature’s prime properties in Kampala. In his ruling on June 27, Justice Christopher Gashirabake said “there is all evidence that there is a real threat of sale/disposal of the property before determination of the main arguments of jurisdiction of…
Businessman Samuel Majwega Musoke has passed on
According to his family, Mr Majwega had gone to the USA to attend his daughter’s graduation ceremony in Minnesota. “With deep sorrow Ms Halima Majwega of Framingham,Ma and her family announce the sudden death of the father of her children *MAJWEGA SAMUEL MUSOKE* (MK Publisher)of Buziga,Uganda who passed away today the 25th in Louisiana Hospital.Late…
UEPB, President Museveni recognize UBL as leading firm in Export Promotion and Import Substitution
Uganda Breweries Recognized at the President’s Export Award Ceremony Uganda Breweries has been recognized by President Museveni and the Uganda Export Promotion Board as a leading company in export promotion and import substitution. This was at Imperial Royale Hotel, where President Museveni (who is Rwanda for the Common wealth Heads of Government Meeting – CHOGM) was represented…
UDB to lend Shs 300bn in support of Socio-economic Development
Uganda Development Bank is set to lend slightly over Shs300bn in the coming six months to support businesses to overcome the current economic shocks, characterized by high commodity prices. The lender’s Chief Executive Officer, Patricia Ojangole, revealed on June.24 immediately after the Annual General Meeting that the development bank has planned to lend Shs 612bn,…
MTN Foundation Equips Kasese Youth Polytechnic VTI with A Digital Resource Center
The students of Kasese Youth Polytechnic Vocational Training Institute (VTI) in Western Uganda are set to reap from the generous donation of a fully furnished Digital Resource center courtesy of the MTN Foundation in partnership with Enabel a Belgian NGO. This project is hinged on MTN’s strategic priority to build digital skills for digital jobs…
BOU approves dividend payment for Commercial Bank Stakeholders
Shareholders in banking service companies will in a month’s time start receiving dividends for their investments, for the first time since 2019 following BOU approval. Stanbic Bank Uganda and Bank of Baroda will be the first to pay dividends to their shareholders, starting July 24th and August 4th, 2022 respectively, according to the notices to…
Stanbic bank, Prudential launch joint Medical Insurance Cover for Ugandans
With just UGX600, 000 or USD166 investment, Stanbic customers are now able to acquire for themselves and loved ones, annual medical insurance cover of up to UGX 20 million—this, courtesy of Stanbic MediProtect, a joint offer by the bank and Prudential Uganda. Unveiled at a press conference in Kampala, today, MediProtect is open to Stanbic…
UBOS launch a five year plan to support PDM
The Uganda Bureau of statistics (UBOS) has launched structure committees mandated to collect field data regarding the statistics of the country. UBOS earlier on formulated a 5 year Plan for National Statistical Development (PNSD) aimed at delivering all the required forms of data and statistics of the country to bolster proper development plans. The State…
Bank of Baroda to pay stakeholders Shs 25b in dividends upon regulatory approval
Bank of Baroda (Uganda) Limited has informed its shareholders that it will pay the final dividend for the year ended December 31st 2020 following receipt of the necessary regulatory approval. Bank of Uganda, in April 2020 put in place enhanced guidelines for all Supervised Financial Institutions (SFIs), in relation to discretionary payments, including dividends, for…
HFB launches “Zimba Mpola Mpola” Housing Loan Scheme
Housing Finance Bank has launched the Incremental Housing Loan to unlock opportunities for Ugandans to attain affordable home ownership and financial independence. Uganda’s housing deficit stands at 2.4 million housing units and Housing Finance Bank, a fully government owned commercial bank is championing the Sustainable Development Goal (SDG) 11.1 agenda; to ensure that by 2030,…
Former Uganda Airlines boss arrested for abuse of Court Orders
Cornwell Muleya, the former Chief Executive Officer of Uganda Airlines has been arrested on orders of The Inspectorate of Government-IG.. A statement by the Deputy Inspector General of Government, Dr. Patricia Achan Okiria, shows that Muleya was picked up for failing to heed to their summons. “Muleya has been arrested and charged with the offense…
Absa Bank, Bakaima Real Estate Agents partner to offer land purchase loans
Absa Bank Uganda has introduced land purchase loans in a bid to help more people realize their dream of land and home ownership. These loans will enable customers to access affordable financing for the purchase of land in Greater Kampala and select cities in Uganda. The mortgage facility – offers up to UGX 500 million…
IRA UGANDA: All imports into the country to be insured by a locally licensed insurance company
It is not uncommon in our land for things to stop at promise and policy level without real on-ground implementation. This trend has given rise to a doubt-over-faith mentality. It is therefore going to take a considerable streak of successful implementations to turn the distrust into confidence. On that note, going by the numerous developments,…
Banks sign deal to boost interbank trade in Uganda
Fifteen Ugandan banks have signed onto the TradeClear platform to ease and boost interbank trade within the country. TradeClear is an interbank trading platform managed by financial services company Frontclear and is regulated by Bank of Uganda and overseen by the Uganda Bankers Association’s Treasurers Forum. The Ugandan interbank market has been limited to the…
UK gov’t presents FSD Uganda to Gates Foundation
The UK Government has stepped down from funding Financial Sector Deepening Uganda (FSDU) and handed over that role to the Bill and Melinda Gates Foundation, it said on June 15 in a media statement. Since 2015, the UK Government has invested Shs 85 Billion (£17m) to establish and support Financial Sector Deepening Uganda (FSD Uganda),…
MTN Uganda Equips over 700 people with Digital Skills under 21 Days of Y’ello Care Campaign
MTN Uganda has today donated computers and a WiFi router and a multi-purpose printer to the Nakawa Market vendors Association as it concludes its staff volunteerism campaign dubbed 21 Days of Y’ello Care. This follows a series of community outreach projects simultaneously executed in various parts of the country since last week. Today, also marked…
URA to start collecting VAT from Netflix, Uber
Uganda Revenue Authority has established mechanisms to start collecting VAT from non-resident service provider companies operating in the Ugandan economy. Collection of VAT from these companies is starting effective 1st July 2022, and will focus on all electronic service providers. These include Facebook, Netflix, Amazon, Uber, and the like. John Musinguzi, the URA commissioner general…
AJAROVA: It is by law; The Tourism Act, that every tourism enterprise is supposed to be registered, inspected and licensed by UTB in order for them to operate legally
The Uganda Tourism Board (UTB) has announced that come January 1, 2023, all tourism players in the country will require to be registered, and licensed by the Board. The UTB Chief Executive Officer, Lilly Ajarova made the pronouncement while speaking at the training of Public Health Inspectors on the regulatory mandate of the Board, and…
Brand Africa Awards: Mukwano, NBS, Centenary Bank, Movit, Nile Special, Riham Drinks, and Abryanz Collection lead respective categories for best Ugandan brands.
Mukwano Products lands grand Prix as the #1 most admired Ugandan brand. NBS, Centenary Bank, Movit, Nile Special, Riham Drinks, and Abryanz Collection lead respective categories for best Ugandan brands. QG Group’s David Galukande, Rugeyo Farms’ Robert Kabushenga, and Uganda Registration Bureau’s Adv Mercy Kainobwisho honored On 03 June 2022, Brand Africa in partnership with…
FORBES AFRICA 30 UNDER 30 CLASS OF 2022: DANIEL MUKISA
THE FORBES AFRICA 30 UNDER 30 CLASS OF 2022 CARE ABOUT BEING VISIONARIES OF CHANGE AND CATALYSTS FOR INNOVATION. BEING ON THE MOST-ANTICIPATED LIST ON THE CONTINENT, FOR THESE YOUNG TRAILBLAZERS, IS NOT JUST ABOUT COMMERCE AND CLOUT BUT ABOUT ENSURING THEY REPRESENT WELL THEIR COUNTRIES AND THE DIVERSE, HETEROGENEOUS AFRICA THEY WANT TO SERVE.…
USE rules out rumors of data leakages
Uganda Securities Exchange has spoken out on the allegations of a data breach from its servers; specifically allegations of the leakage of personal data from the USE Easy Portal. In a statement dated June15, 2022, USE says based on a comprehensive review of the security status of the Exchange’s servers and IT infrastructure, “the Exchange would…
South African entity had rights to auction Bitature’s properties says Court
The High Court in Kampala has dismissed with costs an application by Kampala businessman Patrick Bitature for a temporary injunction to restrain his creditors of M/s Vantage Mezzanine Fund II Partnership from selling, alienating, disposing of, taking possession, or any action against his properties. This arose from his failure to pay the US$32million he owes the…
Make the organization you work in a positive environment says Uncle Sam
The Public Relations practitioners in Uganda have been urged to create safe working spaces within the companies they work for so as to create strong mental health amongst staff. The call was made by Samuel Apedel, the Senior Manager Public Relations at National Water and Sewerage Corporation (NWSC) while addressing Communications practitioners at Hotel Africana…
Some pump attendants give fuel less than what has been paid for
Government agencies and petroleum marketing companies are divided on whether or not to resume the countrywide crackdown on fuel stations that violate standards. These activities were suspended when COVID-19 broke out more than two years ago and movement became more restricted. The crackdown involved checking the quality of products at pump fuel stations, and the…
Letshego appoints “Aupa” as Group CEO
Letshego has appointed Aobakwe “Aupa” Monyatsi as Group Chief Executive. Prior to this appointment, Aupa held the same role in an interim capacity from 4 May 2022, having led the inclusive finance entity’s digitalization of systems and operations for the last two years in his first Letshego role as Group Chief Operating Officer (Group COO).…
TAT ORDERS DHL TO PAY OVER UGX 1.4 BILLION TO URA
DHL Supply Chain International Ltd, a Ugandan subsidiary of the the Deutsche Post (DHL group in Germany) has been ordered to pay UGX 1,484,422,000 of Value Added Tax (VAT) to URA in a ruling by the Tax Appeals Tribunal (TAT). The ruling follows DHL’s appeal to TAT challenging URA’s position to collect VAT on imported…
UAP Old Mutual bosses the insurance industry
UAP Old Mutual has registered impressive growth and a record market leadership, according to the recently released Financial Statements for the year ended 31st December 2021. Regardless of the low insurance penetration (below 1% mark for years), UAP Old Mutual is leading other companies in terms of revenue, according to a New Vision article. The…
Ugandan Economist graduates from Harvard University
Ugandan Economist and Business Executive, John Kakungulu Walugembe, graduated from Harvard University’s John F. Kennedy School of Government in May.In a color full ceremony, held at the University’s campus in Cambridge Massachusetts, that was graced by the United States of America’s Attorney General, Merrick Garland; John received the Mid-Career Master in Public Administration majoring in…RON KAWAMARA: Today if you go to Glovo, Safe Boda, Uber, we are proud that leaders there came through Jumia ecosystem
Jumia Uganda has celebrated a decade of progress and serving Ugandans with the online platform launched in Uganda in 2012 when e-commerce in the country was virgin and today sells about six million products and delivers to every district in Uganda. Speaking at a partners and vendors appreciation event held at its new head office…
ZTE wins big at the 5G MENA 2022 Awards
ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the mobile internet, today announced it has won the “Best Mobile Transport Solutions to Connect 5G Services” award with its “5G Transport Network Enables Telco’s Digital Transformation” solution at 5G MENA 2022. 5G MENA is one of the…
MTN and Stanbic Bank re-appoints PwC in an audit deal
MTN Uganda Limited has announced the re-appointment of PricewaterhouseCoopers, Certified Public Accountants as the external auditor of the Company for the audit relating to the financial year ending 31 December 2022. The multinational professional services network of firms, which ranks the second-largest professional services network in the world has also been appointed by Stanbic Uganda…
Former Microsoft Kenya Country Director Heads To Meta
Kendi Ntwiga has been appointed as the Global Head of Misrepresentation for Meta, the company that owns Facebook, Instagram, and WhatsApp. This follows her departure from Microsoft Kenya, where she served as the Country Leader. Her tenure started in May, and she will be based in Ireland. According to a statement revealing this development, Kendi…
MTN Uganda shareholders to receive dividends
MTN Uganda, Chief Executive Officer, Wim Vanhelleputte.MTN Uganda shareholders are due to get their first dividends since the company listed on the Uganda Securities Exchange, with the register for those eligible closing June1.The shareholders will have their dividends paid on June 24, with each share earning the holder 4.706 shillings, according to Enid Edroma, the…Kansai Paint ltd partner with AkzoNobel in sell of Africa Business Products
Kansai Paint Co., Ltd. has entered into an agreement to sell its Africa business to Akzo Nobel N.V. (“AkzoNobel”), a global paints and coatings company, said on June 2 in a statement. Kunishi Mori, Kansai Paint’s president said, “We are convinced that AkzoNobel is the best owner as AkzoNobel considers the decorative paints business as…
StanChart Uganda appoints Sanjay Rughani CEO, Kasekende replaces him as CEO StanChart Tanzania, and Sonny Zulu is appointed new Zambia CEO
Sanjay Rughani, a banker with over 25 years of banking experience across the African continent, has been appointed the Chief Executive Officer of Standard Chartered Bank, Uganda He replaces Albert Saltson, who has retired from Standard Chartered Bank after more than 15 years. His final day at the bank was on 23rd March 2022. He…
NBL: We are maintaining our market price despite economic hardships
Leading beer makers Nile Breweries Limited (NBL) have Thursday pledged to maintain the current market prices for all their products, in the face of the surging inflation in the country. The company executives told reporters at their offices in Luzira that they don’t see any short term price hike, as they seek “to enable consumers…
Stanbic Bank Uganda donates Ugx 150m towards Makerere At 100 celebration
Stanbic Bank has made a contribution of UGX150m to Makerere University as the institution marks 100 years of service to humanity. The UGX 150m cash donation is expected to boost activities lined up by the university ahead of the official “Makerere At 100” October celebrations. The activities include public lectures, conferences, and MAK run among…
Eng. Edrisa Kwizera: We do not have an adverse impact as far as the fuel prices are concerned
One of the joint venture partners in Uganda’s oil sector and the developer of Tilenga project, Total Energies, has revealed that the on-going escalating fuel prices have not yet affected their works in Tilenga Development Area. Following the declaration of the Final Investment Decision by both Total and the China National Offshore Oil Company (CNOOC),…
TECH PUNDITS: Smile telecom should pack and leave
At the end of January 2022, Smile Telecom’s 4G LTE network was switched off and until now, the firm continues to encounter challenges on their network that have impacted the service availability. In short, there have been no internet services provided by Smile telecom for 4 months and running now. Smile Telecom clients are frustrated…
Anne-Joy Michira appointed Marketing and Innovations Director for Africa at EABL
East Africa Breweries Limited (EABL) has appointed Anne-Joy Michira as its Marketing and Innovations Director for Africa effective 1st May 2022, taking over from her predecessor Graham Villiers-Tuthill. Prior to this appointment, Michira was the head of the Marketing Department at Beer, East Africa’s largest alcohol manufacturer where she was instrumental in the conceptualization and…
UDB and EUinUG Tourism facility Second Call for Application
Uganda Development Bank Ltd (UDBL), in partnership with the European Union, has announced a special call for eligible businesses in the tourism sector to apply for and receive up to Shs1 billion in grants and soft loans with flexible terms aligned to the current needs of the sector. The Facility is intended to give operators…
First lady to inaugurate, lay foundation stones on Makerere’s new buildings
The First Lady and Minister of Education and Sports, Hon. Janet Kataaha Museveni is slated to inaugurate new buildings at Makerere University and lay foundation stones on the ongoing construction of two other projects. The minister of education will be laying the foundation stone for the school of Law building and for the reconstruction and…
Kin Kariisa ends his reign as Chairman Ecobank Uganda after a decade
Kin Kariisa has ended his 10 years on the board of Ecobank Uganda, a subsidiary of Ecobank Transnational Incorporated (ETI), one of Africa’s largest financial brands, leaving behind a well-entrenched bank, with great growth prospects. Kariisa who joined the bank’s board, in 2012, rising to become Chairman in 2019, was on Thursday, 12th May, together…
Kirunda Magoola wins big at CCBA
Kirunda Magoola has been appointed Public Affairs and Communications Director, Coca Cola Beverages Africa (Uganda) replacing Simon Kaheru who was appointed Group Head of Public Policy and Partnership as of 01 April 2022. Coca-Cola Beverages Africa (CCBA) is the largest African Coca-Cola bottler, accounting for 40% of all Coca-Cola volumes on the continent. In Uganda,…
Coca Cola announce New Sprite brand to ensure Environmental Sustainability
The Coca-Cola system in Uganda yesterday unveiled a new iconic look of its leading sparkling lemon-lime flavored soft drink Sprite in a clear polyethylene terephthalate (PET) plastic bottle packaging. This shift from its iconic green bottle means more Sprite bottles can be collected, recycled and reused to make new items – a move that is…
Absa and Prudential launch Absa Family Protection Plan
Absa Bank Uganda and Prudential Uganda have today launched the Absa Family Protection Plan, a life insurance policy, designed to help families plan for the financial needs faced during the loss of a loved one who is either a member or immediate member of a family. The policy caters to funeral expenses and other paybacks…
South African insurer Sanlam and Germany’s Allianz sign $2.1bn joint venture
South African insurer Sanlam and Germany’s Allianz have agreed to combine their current and future operations across Africa in a joint venture. The total group equity value is expected to be more than $2.1bn and the new entity should rank top three in most of the markets where it operates, according to a statement by…
IFC announces partnership with Equity Bank Kenya
The International Finance Corporation (IFC), the private sector lending arm of the World Bank, has acquired a 6.71 percent stake in Kenya’s regional lender Equity Bank, officials said Tuesday. Mohamed Gouled, the vice president of risk and finance at the IFC, said in Nairobi, the Kenyan capital, that the investment makes the financial institution the…
UAP Old Mutual registers 25% increase in income
UAP Old Mutual insurance company has seen its net profit nearly double from Shs 9.7billion in 2020 to Shs 17.2billion last year driven by increase in gross written premiums, better claims and expense management. The insurer, which owns 45% of UAP Old Mutual Properties Uganda Limited and 32.3% UAP Old Mutual Financial Services Limited, saw…
WorldRemit issues reactive statement about Uganda
Effective June 6, Ugandans will not be able to send money or top-up airtime for individuals in other jurisdictions. However, WorldRemit maintains that Ugandans will still be able to receive money from abroad via their phones. WorldRemit, a cross-border digital payments service provider will shut down part of its money transfer business arm in Uganda.…
Absa Bank donates Ugshs 65m towards Makerere at 100 celebrations
Absa Bank Uganda has contributed 65 million shillings to Makerere University to mark 100 years of excellence in building a transformed society. On Tuesday, Absa Uganda Managing Director, Mumba Kalifungwa handed a 65 million shillings cheque to Makerere University Vice Chancellor, Prof Barnabas Nawangwe for centenary commemorations. Speaking at a press briefing at the University,…
Brand Africa 100: Africa’s Best Brands 2022
Over the years, on average, only 20% of the brands Africans admire are made in Africa. Nike (#1 brand overall), MTN and Dangote (#1 African brands recalled spontaneously and prompted respectively), BBC (#1 media brand) and GT Bank (#1 financial services brand) have dominated the overall rankings. Coca Cola, Mukwano, NBS, Centenary Bank and MTN…
Scangroup counts KSh4.7b investment loss
Marketing services firm WPP Scangroup has made preparations to write off up to Sh4.7 billion investments in its subsidiaries. The manouvre has seen the share premium account –representing the value of shares acquired by shareholders above their nominal price— drop to Sh4.4 billion in the review period from Sh9.1 billion in 2020. Share premium cannot…
Godfrey Muhindo appointed CCO MTN Mobile Money Uganda
Godfrey Muhindo has been appointed Chief Commercial Officer for MTN Mobile Money Uganda Ltd reporting to the Managing Director. As Chief Commercial officer, Godfrey Will be responsible for running the commercial operations of MTN Mobile money looking after Corporate Accounts, Momo pay expansion, and Mobile money distribution across Uganda. Godfrey is a financial and business…
Aber Kwikiriza replaces Colin Asiimwe as Head of Marketing MultiChoice
Lois Aber Kwikiriza has been appointed the new Head of Marketing at MultiChoice Uganda. Kwikiriza takes on the mantle from Colin Asiimwe who has been at the helm of marketing at MultiChoice Uganda for the last two years. While welcoming the newly appointed Head of Marketing, Hassan Saleh the Managing Director MultiChoice Uganda encouraged Kwikiriza…
Tetteh appointed new CEO Prudential Uganda
Tetteh Ayitevie, who has been the Chief Strategy Officer at Prudential Life Insurance Ghana (PLIG), will take over from Acumile Majija. Majija, who has been Prudential Uganda’s CEO designate has joined Prudential’s West and Southern Africa Region as chief executive: Strategic Initiatives and Market Expansion. Majija has been with Prudential since January 2011. He is…
NBL, Standard Chartered Bank & Stanbic Banks fined for Contempt of TAT
The Tax Appeals Tribunal (TAT) slapped a fine of UGX 20 Million on Nile Breweries Limited (NBL) and UGX 30 Million on Standard Chartered and Stanbic Bank for contempt in a ruling read on Saturday. This follows NBL’s earlier application to TAT objecting to URA’s additional assessment of Local Excise Duty of UGX 8,093,539,724 and…
MTN Uganda’s Device Financing scheme is Transforming Lives through Digital Inclusion
Harriet Nakkungu, a businesswoman based in Namataba town in Mukono district had for over 12 years, desired a smartphone to boost her business but she could hardly afford one due to the high cost of genuine smartphones. Last year, her odds changed following a partnership between MTN and fintech platform M-KOPA. She was able to…
Uganda ‘Grey’ listed over money laundering
Uganda’s financial industry risks being blacklisted by international systems for failure to put in place measures that can effectively prevent financial crimes like money laundering. This is a requirement by the Financial Action Task Force (FATF), a global inter-governmental organisation on the initiative of the G7countries to develop policies to combat money laundering and terrorism…
URA projects revenue loss due to budget cut
Uganda Revenue Authority (URA) officials have told Members of Parliament that 4.3 trillion Shillings projected revenue is to be foregone due to different unfunded interventions in the coming financial year 2022/2023. Led by John Musinguzi, the Commissioner General, officials from URA on Monday appeared before Parliament’s Finance Committee to present their policy statement for next…
Uganda’s Communication Industry Set For Exciting Future
Uganda is set to be part of the first-ever report that will cater exclusively to the PR and communications industry within the African continent. This follows a statement released on Wednesday April 6 in which BHM Research & Intelligence announced that starting this year, its annual report on the public relations and communications sector in…
How the global shock has affected domestic tourism
The rising costs of fuel and other essential items is expected to affect the growth of the domestic tour and travel industry, one of the reasons the sector has to find mitigating measures. The industry is mainly driven by transport, food and accommodation, with the first two already being affected by the rising costs of…
UMEME net profits more than triple in 2021
Uganda’s electricity distribution firm, has seen 2021 net profit more than triple to Shs139bn owed to increase in customer base and electricity sales. This is the similar profit earned in 2019 during the pre-COVID period. Umeme recorded a 9% growth in customer base to 1.6million, leading to a double-digit growth in electricity sales from 3,201…
NSSF midterm access could delay for some of beneficiaries
Although the slow verification and random selection of applicants for the NSSF midterm access aims to avoid malpractices for those using the manual applications, it has been identified as the probable cause of delays in the disbursement of the payments. Unlike the online applications, the physical applicants have to go through a manual initiation stage…
Stanbic Uganda 2021 Financial Report
Stanbic Uganda Holdings Limited (SUHL) has announced it grew its net profits by 11% in 2021 to earn Ushs. 269billion from Ush.242bn in 2020, driven mainly by strong growth in non-interest income earned by mostly Stanbic Bank Uganda Limited, its anchor subsidiary. Other subsidiaries of SUHL include SBG Securities Uganda Limited, Stanbic Business Incubator, tanbic…
EU donates shs 31.8B to support customary land reforms
The European Union has provided 8 million euros (31.8 billion shillings) towards efforts aimed at eliminating injustices related to the land tenure systems in the country. The grant to be administered by the World Bank aims at strengthening land tenure security, land administration and land management systems in northern and eastern Uganda. The two regions…
DFCU Bank 2021 financial results, total operating income grows by 21%
Dfcu Bank Limited on Thursday announced its audited financial results for the year ended 31 December 2021 with core business metrics remaining as total operating income grew by 21% to Ugx 369 Billion. According to the dfcu Bank Chief Executive Mathias Katamba, who attributed the positive growth amidst slowed business activity during the Covid pandemic…
CMA urges chipper cash to comply with its regulations
Petition filed by Samuel Obedgiu has raised concern over Chipper Cash operations in the market, tasking officials at the Capital Markets Authority (CMA) to explain how the firm is encouraging Ugandans to invest in global stocks without issuing a prospectus as required by the CMA Act. In November last year, Chipper Cash, one of Africa’s…
UTB launches brand “Explore Uganda” at the Dubai Expo
Uganda Tourism Board (UTB) on Wednesday launched its new destination brand Explore Uganda, The Pearl of Africa, as part of a tourism and media launch event held at the Sheraton Jumeriah Beach Resort in Dubai, United Arab Emirates. The launch is a follow up of the initiatives of President Yoweri Kaguta Museveni at the start…
Absa Group appoints Arrie Rautenbach as CEO
Absa Group has announced the appointment of Arrie Rautenbach as Chief Executive Officer (CEO), effective immediately. “On behalf of the Board, I am delighted to announce the appointment of Arrie as our Group CEO. I am confident that his leadership will provide the continuity and stability necessary to consolidate our purpose and strategy,” said Wendy…
Stanbic Bank donates Shs70million to the LéO Africa Institute
On March 30, Stanbic Bank donated Shs 70 Million to the LéO Africa Institute towards supporting its Young Emerging Leaders Project, which fosters leadership skills by emphasizing empathy, clarity, knowledge and volunteerism, in their various professional backgrounds. “We live in a constantly changing world. This demands that we are constantly learning and rethinking our approach…
How the parternship between Emata and the Netherlands Embassy shall tackle financial problems of farmers in Uganda
The Netherlands Embassy in Kampala partnered with the award-winning Ugandan fintech Emata to accelerate the availability of affordable digital loans to smallholder farmers in Uganda. The partnership includes a grant of up to $590,000 (UGX 2.1 billion) to fund loans to thousands of smallholder dairy farmers. The news was announced during the opening of this…
Rwandan scientist wants to use AI to ease accessibility of radiology
A Rwandan scientist, Audace Nkeshimana, who graduated from Massachusetts Institute of Technology (MIT), an elite US-based university, is looking to make radiology services remotely accessible to Rwandans by using Artificial Intelligence (AI). Nkeshimana says he looks to “democratize” the medical imaging diagnostics in Rwanda by making it possible for radiologists to digitally analyze patients’ images…
UIA rewards CNOOC for the Lake Albert development project
The Uganda Investment Authority (UIA) awarded CNOOC Uganda Limited the FID (Final Investment Decision) Appreciation Award for the Lake Albert development project. President Yoweri Museveni, at this landmark ceremony, said that the revenues accrued from the oil will be critical in strengthening the country’s and the region’s economic development. The Lake Albert development project encompasses the Kingfisher project…
Ucanda resigns from UETCL citing negative media reports
The Uganda Electricity Transmission Company Ltd (UETCL) chairman Board of Directors, Mr Peter Ucanda, has resigned from his job citing what he called negative media reports that have soiled his hard-earned reputation and that of the company. In a March 21 letter to the Finance, Energy, and Privatisation and Investment ministries, Mr Ucanda indicated that…
What the partnership between UTB, PSFU, UTA and Rotary leaders mean to Domestic tourism
The Uganda Tourism Board (UTB) in partnership with Private Sector Foundation Uganda (PSFU), Uganda Tourism Association (UTA), Mastercard Foundation and Adventure Vacation Safaris are hosting a domestic tourism promotion tour at Murchison Falls in a bid to promote domestic tourism, and revive the tourism industry which was badly hit by the COVID-19 pandemic. Dubbed ‘’Fellowship…
Africa requires about $490 billion to unlock productivity for new energy generating capacity
As pressure is mounting for countries to reduce carbon dioxide emissions, the government of Uganda has partnered with an investor to build a carbon-neutral refinery to meet the energy needs of the East African region. Most of the natural gas resources in Africa remain untapped while the continent was also exploring ways of reducing emissions…
LuxSE, RSE sign MOU to develop sustainable finance in Rwanda
The Luxembourg Stock Exchange (LuxSE) and Rwanda Stock Exchange (RSE) have signed a long term Memorandum of Understanding (MoU) between the two institutions to improve cooperation. The event was held during a special Ring the Bell ceremony held in Luxembourg, in the presence of Rwanda’s Ambassador to Belgium and Luxembourg, His Excellency Ambassador Sebashongore. The…
Equity Group Kenya register double Net Profits
Kenya’s Equity Group saw its net profit nearly double for the 12 months to December 31, 2021 on the back of a reduction in loan loss provisions and growth in interest income from lending to the government. Profit After Tax increased by 99% to Kshs 40.1 billion ($343.59 million) from Kshs 20.1 billion ($173.5 million) …
Digital lenders who breach new regulations risk penalties
Digital credit providers (DCPs) in Kenya will have to disclose their sources of funds and provide evidence of the same following the coming into force of a law meant to regulate the sector. The new regulations published Monday by the country’s financial regulator, the Central Bank of Kenya (CBK), also requires digital lenders to get a license…
CiplaQCIL joins stakeholders in Phartech Exhibition
Cipla Quality Chemicals Limited (CiplaQCIL) has joined other stakeholders in drug manufacturing, storage, regulation and sales to participate in the East Africa Phartech Pharmaceutical and Healthcare Exhibition. Speaking on the sidelines of the launch of Uganda’s premier international exhibition, which focuses on pharmaceuticals, medical and healthcare technology, Mr Ajay Pal the CiplaQCIL chief executive officer,…
CNOOC and Kyambogo University partner to offer Internship and employment to graduates
Kyambogo University has partnered with China National Offshore Oil Corporation (CNOOC) for collaboration in the areas of internship, employment of graduates, Joint research, and technology transfer, among others. Prof. Eli Katunguka – Rwakishaya, the Vice Chancellor appreciated the opportunity since Kyambogo University has a niche in Engineering, it would generate knowledge in the oil and…
The World Bank invests Shs 540 billion in Agriculture Cluster Development Project
The government is determined to continue with the electronic system of agricultural input purchases. The e-Voucher system launched in 2019 was developed by United Bank for Africa and used as a purchase and payment system to boost the Agriculture Cluster Development Program (ACDP). The system enables the farmers to order inputs like seeds, fertilizers and…
NSSF pays Shs 20billions above Weekly mid-term payment target
The National Social Security Fund has paid out Ushs78.8 billion to 4,417 eligible members to date, UGX 20.8 billion above its weekly target of UGX 50 billion. Speaking to media at a press briefing held today at Workers House, the NSSF Managing Director Richard Byarugaba said that the payments reaffirmed the Fund’s commitment to avail…
Carrefour commits to sell cage-free eggs across its Carrefour franchises
Developed in partnership with The Humane League, the first-of-its-kind commitment goes beyond what legislation prescribes and contributes to further improvements in farming conditions in the region. Under the new Farmed Animal Health and Welfare Policy, Majid Al Futtaim will promote alternative and more sustainable housing systems, such as cage-free, outdoor access systems, free-range systems and…
French conglomerate Bolloré set for an exit
One of the biggest recent surprises in the African logistics sector over the past few months has been Bolloré’s decision to pull out of the industry. The French conglomerate has been a major player over many decades, with operations ranging from ports and shipping to rail and warehousing, and the firm had expanded its operations over…
Uganda Airlines completes feasibility study on routes it intends to fly to
Uganda Airlines has completed feasibility studies on a number of routes the National Carrier plans to fly to. Some of the routes in question include Mumbai in India, London in United Kingdom, Goma and Lubumbashi (both in the Democratic Republic of Congo). Owing to the fact that the COVID-19 pandemic has changed so many things, Uganda Airlines-even when it…
Jumia launches 9th tech-sale edition
E-commerce firm, Jumia has officially launched the 9th edition of its annual tech-sale. Executives said yesterday (March 21) in Kampala that the sale activity will run from March 21 to April 3rd themed “Upgrade your tech today”. This year’s Jumia tech-sale will offer shoppers across Uganda up to 50% on more than 100,000 deals ranging…
Uganda Launches Plan To Manage Oil Spills
The Rt. Hon. Robinah Nabbanja, the Prime Minister of Uganda has urged entities charged with overseeing the oil and gas operations in the country to widely publicise the National Oil Spill Contingency Plan (NOSCP) that she officially launched today. The NOSCP is a framework to guide national oil spill preparedness and response in the event…
Get Now, Pay Later: Sage Buyers Partners with Lipa Later to Advance Apple Products to Customers
Ugandan Apple Products’ dealers Sagebuyers have announced a partnership with Lipa Later, Kenyan tech-led consumer credit platform to enable their clients receive iPhones and other Apple products available at the Sage Buyers store on credit. The new arrangement that targets corporates and other salary earners mostly will have people getting their dream Apple products after…
Kenya-based agritech Apollo raises $40 million in Softbank-led round
Kenya-based agritech Apollo Agriculture, which helps farmers access high-quality farm inputs, financing and markets, plans to double the number of farmers it is serving by the end 2022 and to introduce other products that deliver more value per acre of land. This is after raising $40 million in Series B funding in the equity round led…
IMF clears Uganda for UGX455Bn credit after “good performance”
The International Monetary Fund-IMF, has given Uganda a clean bill of health regarding the handling of the COVID-19 pandemic, the funds and the economy as a whole. For this, the Fund’s board has allowed for the immediate release of 127 million US Dollars (about 455 billion Shillings) for the country as part of the Extended…
Stanbic Bank’s #OneStepCloser to cheer up Ugandans after Lockdown
The social media hashtag #OneStepCloser that has been gaining popularity in recent weeks can now be firmly linked to Stanbic Bank Uganda, as the lender’s new brand campaign aimed at rallying Ugandans to pursue their dreams and rebuild their businesses after the pandemic. In a statement to the press, Daniel Ogong, Stanbic Bank Uganda’s Head…
Here’s The Role Of UDB In Accelerating Post Lockdown Recovery Of MSMES
Over the last two years, the COVID-19 pandemic impacted businesses on national and global scale. Governments in many developing countries introduced severe containment measures, involving restrictions on economic activity and mobility, to curb the spread of COVID-19. In Uganda, public transport and non-essential businesses were closed during the two lockdowns (March-June 2020, and June-August 2021). Other…
Stanbic Bank retains 22% bancassurance market share
Bancassurance contributed UGX103.5billion to the UGX1.1trillion Gross Written Premium (GWP) recorded by Uganda’s insurance sector in 2021 with Stanbic Bank accounting for 22% to consolidate its position as market leader. Bancassurance is the sale of life assurance and other general insurance products through commercial banking institutions; in 2020, bancassurance sales contributed only UGX32bn to the…
Albert Saltson leaves Standard Chartered Bank Uganda
Saltson, a Ghanian national was appointed CEO and Managing Director of Standard Chartered Bank Uganda in March 2017. He took over from Herman Kasekende, the first Ugandan to head Standard Chartered Bank, having been appointed to CEO Standard Chartered Bank Zambia. Saltson’s tenure has been mostly about digitization of the bank to meet dynamic customer…
DIGITAL SAFETY IS A RIGHT, SAYS UCC BOSS
Digital safety is a fundamental right for consumers, and all stakeholders should join hands to enforce it, the Uganda Communications Commission Ag. Executive Director Irene Kaggwa Sewankambo has said. “The Commission recognises that digital safety is a fundamental right for all consumers; it is not a privilege, and guaranteeing it is a concerted effort of…
Uganda’s financial market according to ABSA Africa Financial Markets Index (AFMI) for 2021
Michael Atingi-Ego, the Deputy Governor of Bank of Uganda, said, “Uganda’s inspirational ranking amidst a raging Covid-19 pandemic should galvanize us to sustain the good policies and interventions as well as to undertake the strategies that will unleash the power of our financial market to drive economic growth and socio-economic transformation.” Uganda has improved its…
DPF to compensate closed financial institutions by the Central Bank
The Deposit Protection Fund (DPF) has revealed that it has about 20.1 billion which is supposed to be paid to shareholders and depositors of closed financial institutions upon the conclusion of liquidation processes by the Bank of Uganda (BOU) In 2016, the Financial Institutions Act 2004 was amended to provide for the establishment of an…
Maria Kiwanuka named board chair of Airtel Mobile Commerce Uganda Limited
Kampala – 3rd May 2022: Airtel Mobile Commerce Uganda Limited (AMCUL), the leading mobile financial solutions provider in the country, has today appointed Hon. Maria Kiwanuka as Board Chair. The appointment that was announced by Airtel Money Africa’s Group CEO, Mr. Vimal Ambat, is part of changes that have also seen AMCUL’s CEO, Mr. Aritho…
IRA launches inaugural Insurance Week to take insurance information closer to the people
March 3, 2022. The Insurance Regulatory Authority of Uganda (IRA) has launched the inaugural Insurance Week, an event that seeks to take insurance information closer to the people so as to enable people make informed buying decisions and increase the uptake of insurance services. Speaking at a media briefing at Golf Course Hotel on Thursday,…
CNOOC takes Final Investment decision on Uganda’s oil project
CNOOC Uganda has confirmed a final investment decision (FID) for the Kingfisher field, marking another step forward for the Lake Albert development. Energy Minister, Ruth Nankabirwa, said on November 3rd the chairman of CNOOC had reported the FID to her in writing. “I can confirm to you that CNOOC Uganda Ltd has taken its FID…
MTN and licensed stockbrokers arrive in Arua for the MTN IPO sensitization tour.
Representatives from MTN Uganda and SBG Securities plus Crested Capital (stockbrokers of the MTN IPO), have arrived in Arua for a town hall meeting to drive awareness and provide vital information about the MTN offer of shares and the stock market to communities in the area. This is in an effort to arm the public…
The quest for industrialization: UIA receives land in Nakasongla and Butambala
Uganda Investment Authority (UIA) yesterday 2nd November 2021 received 1 square mile of land for industrial park development from the Ministry of Defence in Nakasongola. The land was received by the UIA team led by their Chairman, Morrison Rwakakamba. UIA, as the chief investment promotion agency of the Government of Uganda, was directed by the…
Buddu County Chief Urges People of Masaka to Embrace Economic Development as MTN sensitizes the Public on its IPO
The Buddu County (Pokino) has urged the people of Masaka to embrace economic development as MTN spreads awareness about how Ugandans can participate in the ongoing MTN Initial Public Offering (IPO). Levis Sempiira who was representing the Pokino of Buddu lauded MTN for its support and relationship with the Buganda Kingdom, encouraging the people of…
Standard Bank Group Selects Flutterwave to Drive Digital Transformation Efforts Across Africa
Standard Bank customers in eight African countries to enjoy enhanced digital payments experience in partnership with Flutterwave On 28th October 2021, in Johannesburg, South Africa, Standard Bank, the parent company of Stanbic Africa Holdings Limited for which Stanbic bank Uganda is a subsidiary and Africa’s largest bank by assets, has partnered with Flutterwave, Africa’s leading payments technology…
MPs block Shs 3bn COVID-19 stimulus package to Serena hotel
The parliamentary trade committee has stopped the payment of a stimulus package of Shs 3 billion to Kampala Serena hotel by Uganda Development Corporation (UDC). Serena hotel is owned by a consortium that includes Tourism Promotion Services (TPS), a division of the Aga Khan Fund for Economic Development, National Social Security Fund (NSSF), and Proparco, a…
CNOOC – Bunyoro kingdom partner to prepare youth for oil opportunities
China National Offshore Oil Corporation (CNOOC) Uganda has stepped out with projects aimed at preparing Bunyoro kingdom subjects to tap into opportunities created by the oil and gas sector. While the discovery of oil in the Albertine region has raised fears of a likely resource curse, government and oil companies are putting in place strategies…
UIA, American Chamber of Commerce partner to increase American investment in Uganda
The Uganda Investment Authority (UIA) and the American Chamber of Commerce Uganda (AmCham) have today signed a Memorandum of Understanding (MoU) to promote and facilitate American investment in Uganda. The agreement aims at creating a favorable climate for economic activity and promoting Uganda as the premier investment destination in Africa for American investors. UIA Director…
Ecobank Uganda dedicates Ecobank Day 2021 to bridging the information gap on Mental Health
Ecobank Uganda, a member of the leading pan-African banking group, the Ecobank Group, is celebrating the ninth annual Ecobank Day, its flagship corporate and social responsibility annual event that ‘gives back’ to the local communities across Africa. Ecobank Day is an annual event that was first held in 2013, focusing each year on a specific…
Uganda Tourism Board Seeks Additional Shs3.3bn For Dubai Expo
The Uganda Tourism Board (UTB) has urged Government to provide additional funding to a tune of Shs3.3bn to promote Uganda’s tourism at the ongoing Dubai Expo despite questions raised on the partial expenditure of Shs360M the Board received in the first batch of funds. While appearing before Parliament’s Trade, Tourism and Industries Committee, Lilly Ajarova, Chief…
UTB Officials grilled for Dubai Expo Budget expenditures – Half was spent on travel & Per Diem
The committee on trade, tourism, and industry has tasked the Uganda Tourism Board (UTB) to account for the 360 million shillings spent during the Dubai 2020 Expo. UTB led by its Executive Director Lilly Ajarova today appeared before the committee which is probing into concerns arising from Uganda’s participation in the Dubai Expo in the…
Airtel Uganda Partners with Ankole Coffee Producers Cooperative Union to provide a convenient payment platform
Airtel Uganda has partnered with Ankole Coffee Producers Cooperative Union(ACPCU) to provide the convenient Airtel Money payments platform services to enhance payments of ACPCU’s member farmers in a simple and secure way across the Ankole region. This partnership will simplify and improve farmer’s payments for all participating cooperatives, and all members of the Coffee value…
URSB launches e-filing Application System for Intellectual Property Rights Holders.
The Uganda Registration Services Bureau (URSB) as part of their All- digital, All-online strategy has today, 26th October 2021, launched an Intellectual Property (IP) Online Filing (Front Office) System that is designed to enable the public file for IP protection remotely over the internet. The tool is used for receiving Intellectual property applications for trademarks.…
Stanbic, KACITA sign deal to ease importation of goods.
Stanbic Bank and traders under the umbrella body, Kampala City Traders Association (KACITA), recently signed what they described as a ground-breaking trade and tax partnership pact that will ease the clearing of their imports. Stanbic Bank and KACITA say their partnership will significantly ease traders’ ability to source goods from Asian markets as well as…
Uganda to export milk to Zambia
Uganda has secured a new market for its milk in Zambia following a long unresolved impasse with Kenya which was the largest market for Uganda’s exports. Since December 2019 when Kenya authorities ceased at least 3000 bags of powdered milk and packets of Lato milk on claims that Uganda had smuggled the products into the…
MTN Pulse partners with ARAPAPA by Santa ANZO to mentor youth in fashion.
In a highly anticipated event, MTN Uganda’s youth platform, MTN Pulse yesterday on the 24th October 2021 unveiled a partnership with seasoned fashion mogul, Santa Anzo through her establishment ARAPAPA by Santa ANZO to mentor and equip the youth with fashion and entrepreneurial skills. Santa Anzo is the Founder & President of Uganda International Fashion…
East African and non-EAC citizens tipped on how to apply for shares in MTN Uganda
It is as fresh as an oven-baked cake that MTN Uganda has offered over 4.5 billion shares to the public for acquisition. The offer signifies that the public can now become shareholders of MTN meaning they will own part of the company. The move, the telecom’s Chief Executive Officer, Wim Vanhelleputte said is part of MTN’s…
Ayoba users to send MTN MoMo for Free in ‘Life inside Ayoba’ campaign
MTN Uganda in partnership with SIMFY, the developers of Ayoba, has launched a campaign dubbed ‘Life inside Ayoba’ that will see Ayoba users sending MTN MoMo for free to fellow Ayoba users. Introduced to the Ugandan market last year, Ayoba, the African super app, is the first-ever instant messaging app that allows its users the…
URA misses first-quarter target by Shs 499bn
Uganda Revenue Authority (URA) has missed its target for the first quarter of the financial year 2021/22 by Shs 499.49 billion. Out of the Shs 4.959 trillion target set by government, the tax body managed to collect Shs 4.459 trillion. However, this is a revenue collection growth of Shs 389.7 billion from the 2020/21 collections of…
5th edition of Chief Financial Officer awards launched
ACCA Uganda and Deloitte have officially unveiled the 5th (2021) edition of the Chief Financial Officer Awards to be held on December 09th, 2021 under the theme, “Finance leaders as drivers of sustainability.” The launch of the awards strategically coincides with the Global Ethics Day-themed “Ethics Empowered.” Speaking at the launch ceremony held in Kampala…
How Ugandans in the diaspora can take part in the MTN IPO
When MTN announced that it would be selling shares to the public last week, it emphasized that Ugandans would take priority. The telecom even revealed some incentives that Ugandans would enjoy in form of bonus shares in addition to taking priority in the allotment. Following that announcement, queries from social media have displayed appetite from…
Stanbic Bank seizes MOGAS Oil over failure to pay bank loan
Stanbic Bank Uganda has taken control of petroleum products distributor MOGAS after the latter reportedly failed to pay back a three-year loan. The bank immediately put the company, whose full name is: Maestro Oil and Gas Solutions under receivership to recover its money. None of the two accepted to disclose how much money is involved.…
MTN Uganda CEO answers Pertinent Questions around the MTN IPO
On Monday 11th October 2021, MTN Uganda opened its Initial Public Offer that will run until 22nd November 2021 at 4 pm. The MTN Uganda Chief Executive Officer (CEO), Wim Vanhelleputte, sheds more light on the MTN IPO, responding to some of the pertinent questions from the prospective retail investors. First and foremost, how would…
Salary Secrets Of Top NSSF Bosses Leak: How Senior Managers Swim In Billions Of Taxpayers’ Money
Whereas several Ugandans are struggling to access their savings with the National Social Security Fund (NSSF), the managers of the Fund are literally swimming in billions of cash. Credible sources within this government entity have revealed to this website that top bosses at NSSF are living a very luxurious lifestyle because of the hundreds of…
A storm for newly appointed Civil Aviation Authority Director-General
“Mr. Kanyagoga was irregularly recruited as he didn’t meet the criteria in the advert and lacks the requisite integrity to run such a highly specialized agency with regulatory powers,” said a Whistleblower. A whistleblower only identified as Jabbe Pascal Osinde Osudo, today wrote a letter to the Chairman, Parliament Committee on Commissions, Statutory Authorities and…
Forbes Africa 30 under 30(Class of 2022) Call for nominations – Which Ugandans will make the list?
For 10 years now, Forbes has published an annual definitive compilation/list of young people changing the world by building brands, creating jobs, and transforming lives in their respective fields. Today, 08th October 2021, a call for nominations for the class of 2022 has been announced. In Forbes Africa’s 8th edition, Forbes Africa has announced that…
UTB Officials On Spot For Embarrassing Uganda At Dubai Expo
Officials of the Uganda Tourism Board (UTB) have come under fire from several Ugandans who are faulting them for not only embarrassing President Yoweri Kaguta Museveni but also the entire country during the Dubai Trade Expo, where they failed to display many of the locally manufactured products and innovations. Trouble for the UTB officials started…
MTN’s localization agenda commended by President Museveni
The strategy by telecom giant MTN Telecommunications Company of getting Ugandans involved as partners in its activities has been described as very important by President Yoweri Museveni who said it allows Ugandans and Africans to be partners in all the activities of the company. “Localisation is very important. It removes nationalism in business, where all…
USE and MTN Mobile Money partner to Digitize SCD Account Opening in a move to further Financial Inclusion of Ugandans
Uganda Securities Exchange’s (USE) Securities Central Depository (SCD) and MTN Mobile Money have today unveiled a digital SCD account opening platform to further efforts towards financially including all Ugandans. A Securities Central Depository commonly referred to as an SCD account is an electronic account on which securities are held and any transactions regarding trades or…
Stanbic Uganda registers sh154.9 billion profits in half year performance.
Stanbic Uganda Holdings Limited (SUHL), a member of the Standard Bank Group, has demonstrated business resilience, weathering through the effects of the Covid-19 pandemic to post a robust performance in the first half of 2021 with strong growth across all key metrics. The strong performance has largely been driven by Stanbic Bank Uganda Limited, the…
Equity named best Regional Banker.
Equity has been named the Best Regional Bank in East Africa by the 2021 African Banker Awards. The award was conferred to the Bank for its strong and consistent financial performance, its role in leading the disruption of Fintech innovations in banking and for its consistency in championing the socio-economic development of communities through its…
MTN Wakanet MAX delivers affordable, reliable 4G internet to homes
MTN Uganda, in line with its vision of delivering a bold new digital world to its customers is set to transform Uganda’s homes into smart homes with MTN WakaNet MAX, a home Internet solution that offers affordable and reliable 4G data connectivity to multiple family members, with a single WakaNet MAX router. With a single…
Protection of intellectual property key in transforming Uganda, says URSB Boss
Transformation of Uganda into a modern, prosperous society as laid out by the National Development Plan III will largely depend on how fast Uganda can harness, protect and utilize intellectual property, the Uganda Registration Services Bureau (URSB) Registrar General Mercy Kainobwisho has said. According to her, intellectual property should be utilized in a manner that encourages…
At Glance: 2021 Half Year Kampala Real Estate Market Performance Review.
The economy in general and the real estate sector specifically, remained subdued over the past one and a half years due to the lockdown restrictions that affected different sectors of the economy. In the previous property market report (H2-2020), the outlook for 2021 pointed to GDP remaining below expected levels, as per the Bank of…
Oil and Gas: ‘Signing of EACOP agreement boosted demand for office, residential space
The signing of the Shareholder’s agreement of EACOP and the Tariff and Transportation Agreement by Uganda and Tanzania, resulted in a marked increase in inquiries across asset classes in Kampala. The aforementioned agreements opened the way for the development of the Lake Albert development project in Q2 2021, hence increased inquiries on assets according to…
Land issues: Minister Nabakooba launches National Call Centre
In a bid to expedite addressing land issues such as illegal land evictions, incidents of corruption and bribery, Lands Minister Judith Nabakooba yesterday launched a National Call Centre based in Wandegeya. She said that in her term at office, she has prioritised the issue of land evictions, which have made life so difficult for many…
War against corruption: Vice President Alupo calls for exemplary leadership
Vice President Jessica Alupo has said corruption is partly seen in leaders’ behaviors and called for exemplary leadership to fight the vice. “You are holding these public offices in trust of the citizens. We need to be exemplary as Leaders in fighting corruption, starting with ourselves. Corruption is partly an attitude issue and is seen…
France aids Uganda against COVID 19, donates sh10.8b items
The Government of France has donated to Uganda sh10.8 billion covid fight items such as one million FFP2 face masks, fifty four thousand six hundred antigen testing kits and nine Osiris3 respirators. They were handed over to Uganda this afternoon at a ceremony held at the National Medical Stores (NMS) offices in Entebbe in the presence of…
Health Ministry condemns malicious attacks on its officials.
Ministry of health has condemned malicious attacks on Ministry of Health officials by groups of persons who have been politically organised with an intent to defame . This follows yesterday’s protests by a group of people who called for resignation of the Health Ministry Permanent Secretary Dr. Diana Atwine. The Ministry’s Spokesperson Emmanuel Ainebyona in a press…
BIG READ: A LOOK AT JUNE 2021 PERFORMANCE OF THE ECONOMY REPORT
Real Sector Annual Headline inflation slightly increased to 2.0% in June 2021 from 1.9% the previous month, largely driven by increases in prices for food and non-alcoholic beverages during the month. Economic activity weakened in June 2021 largely on account of the implementation of restriction measures to curb the resurgent spread of Covid-19 during the month. Similarly, sentiments about doing business, as measured by the Business Tendency Index (BTI), turned pessimistic in June 2021. The pessimism followed implementation of a second phase of the lockdown measures to mitigate the spread of Covid-19.…
Maya Project Uganda Chapter operating illegally- NGO Bureau clarifies.
The National Bureau for Non-Governmental Organisations (NGO Bureau) under the Ministry of Internal Affairs has said Maya Project Uganda Chapter, an organization under spotlight for alleged trafficking, is nota registered NGO. NGO Bureau is mandated to register, regulate, monitor, inspect, coordinate and oversee all NGO operations in the country. “Equally, all stakeholders and the general public…
A boost to pathogenic economy as UIA gives Prof. Ogwang investment license.
The Uganda Investment Authority (UIA) is on move to prioritize channeling its investment support to local scientists and innovators that are active in the pathogenic economy. Uganda stands to benefit from investments in this nascent sector. The COVID-19 pandemic has underscored the need for home-grown solutions to such pandemics. On July 21st, the State Minister for…
Gov’t takes over Busoga University as Museveni demands for accountability of sh15b loan
Government has agreed to take over Busoga University as a public institution with its sh15b loan, which President Museveni on Sunday morning said will be paid after its accountability. The development follows a series of meetings between Government officials and university heads. “After a series of meetings, the government has agreed to take over Busoga…
Communications sector weathers COVID 19 storm, subscriptions cross 28 million mark.
The Communications sector in Uganda has weathered the storm caused by COVID 19 and registered growth, with total subscriptions crossing the 28 million mark, according to the Uganda Communications Commission (UCC) quarterly market report. The report indicates that there was a net account addition of 590,000 mobile and fixed subscriptions in the period January to…
Prudential Uganda completes the transfer of IAA Health Insurance business.
Prudential Assurance Uganda Limited (Prudential Uganda) has successfully transferred the policy holders, staff and agents of International Air Ambulance Healthcare (IAA Healthcare) to its business. This follows a comprehensive transfer process that was presided by the insurance industry’s supervisory body, the Insurance Regulatory Authority (IRA). According to Arjun Mallik, Regional CEO of Prudential Eastern and…
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…
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After a hiatus of over 30 years, the iconic French automobile brand Peugeot has made a triumphant return to Uganda, bringing a blend of elegance, innovation, and economic promise. The re-launch event,…
MTN Uganda successfully held the inaugural MTN ICT Expo 2024, a landmark event set to revolutionize Uganda’s digital landscape. The Expo, held on the 1st and 2nd of August at the prestigious…
PostBank is on a mission to transform the livelihoods of Ugandan farmers. In a strategic move to boost agricultural exports, the bank has equipped 150 cassava farmers and SMEs in Arua District…
CFAO Mobility Uganda has unveiled the highly anticipated Land Cruiser Prado 250 Series, a pinnacle of luxury and performance. This exclusive model, priced at Sh300 million, represents a significant addition to the…
Financial service providers in Uganda have been urged to embrace technological advancements to stay competitive and improve customer experience. This call to action comes from Michael Mugabi, the Managing Director of Housing…
Uganda Airlines is expanding its wings. The national carrier recently announced the addition of three new routes to its network: Lusaka, Zambia; Abuja, Nigeria; and Harare, Zimbabwe. These exciting destinations will be…
In line with its purpose of fostering prosperity for Ugandans, PostBank Uganda has launched a Self-Onboarding ZeroFlex digital account to enable customers to self-register and have access to financial services anywhere and…
A recent article raised significant concerns about the environmental and social impacts of Total Energies’ $10-billion Tilenga project in western Uganda. The project, which involves drilling more than 400 oil wells, many…
Bamburi Cement Limited (NSE: BAMB) witnessed a significant increase in its share price on Thursday, July 11th, 2024. The company’s stock closed at KShs. 57.75 per share, reflecting a remarkable 28.3% surge…
Coca-Cola Beverages is reaping from setting up Africa’s fastest plastic bottle production line in its East Africa operations. It has a capacity of 67,000 bottles per hour and equipped with state-of-the-art technology…
The National Social Security Fund (NSSF) of Uganda has reported significant returns on its investment in MTN Uganda, the country’s largest telecom operator. According to a recent press release, NSSF has earned…
PostBank Uganda Limited has appointed Ibrahim Kato as its new Chief Retail Officer. With over 15 years of experience in the banking sector, Kato brings a wealth of knowledge and expertise to…
Coca-Cola Beverages Africa has appointed Josphat Mwangi to the position of General Manager for its subsidiary, Coca-Cola Beverages Zambia. Confirming the company’s commitment to developing leadership internally, Mwangi joins the Zambian team…
A network of Official Coca-Cola Distributors (OCCDs) is helping to ensure that Coca-Cola products reach Ugandans efficiently in every corner of the country. As a Fast Moving Consumer Goods manufacturer, Coca-Cola Beverages…
Stanbic Uganda Holdings Limited has announced the launch of its Stanbic Unit Trust, strategically entering the nation’s burgeoning Collective Investment Scheme (CIS) market. This move leverages SUHL’s established client base and aligns…
Absa Group Ltd, one of the largest diversified financial service providers in Africa, has concluded further agreements with the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, freeing…
Jubilee Life, a leading insurance provider in Uganda, today announced the launch of its innovative Jubilee Smart Save Plan. This new plan aims to empower Ugandans to prioritize long-term financial security by…
In a significant gesture of strengthening ties and fostering collaborative efforts, the King of Tooro, His Majesty Oyo Nyimba Kabamba Iguru Rukidi IV, made his maiden courtesy visit to the MTN Uganda…
The seventh annual bankers’ conference, hosted by the Uganda Bankers Association (UBA) on June 19th at the Kampala Serena Hotel, buzzed with discussions on Environmental Social and Governance (ESG) issues, reflecting a…
Ugandan building materials producer Uganda Clays Limited (UCL) encountered a revenue decline in its recently concluded five-year strategic plan. UCL’s 2023 revenue dipped to Shs 30.1 billion ($8.4 million) from Shs 36.6…
The Minister of Gender, Labour and Social Development has appointed Mr. Gerald Paul Kasaato as the substantive Deputy Managing Director of the National Social Security Fund (NSSF), Uganda. His appointment follows a…
Leading multi-category app, Glovo has successfully concluded its highly anticipated 3-Day Courier Program, a series of events focused on the growth, development, and recognition of its couriers. The initiative, themed ‘Courier Day’…
Following the outstanding success of the initial phase of its youth empowerment flagship initiative, MTN Uganda’s corporate social responsibility arm, MTN Foundation, has launched the second phase of the MTN ACE program…
MTN Uganda’s sale of shares left over from its 2021 Initial Public Offering was oversubscribed by almost 100%, the telecom executives said on June 13. The company received applications for 3 billion…
RwandAir Cargo is launching new services to Dubai and Djibouti, both operated by its dedicated freighter B738SF. The expansion is part of the airline’s mission to connect Africa and the world, it…
The Bank of Uganda (BoU) took decisive action on June 18, 2024, revoking the license of Mercantile Credit Bank Limited. This move places the bank under liquidation, effectively shutting down its operations.…
MTN Uganda, along with its partners, last Friday, marked a significant extension of support to Ariwa Secondary School in Yumbe District, West Nile region, as part of the “30 Days of Y’ello…
FlexiPay, Stanbic Bank’s digital payment platform, has partnered with International Fund for Agricultural Development (IFAD) and Upesi Money Transfer, a regional payments company, to enable FlexiPay users to send, receive money from…
On the 13th June 2024, MTN Uganda announced the successful completion of its secondary market share offer, which garnered an exceptional 230% subscription rate. This robust response signifies strong investor confidence in…
DHL Global Forwarding’s digital road freight platform Saloodo! has announced that it will be the first logistics company to introduce the UAE’s first electric Mercedes-Benz truck. The fully electric 40-ton eActros 300…
Ecobank, the pan-African financial services Group, officially opens call for applications to the 7th edition of its Fintech Challenge. This annual competition invites early-stage and mature fintech startups to partner with Ecobank,…
As the world recognizes World Environment Day on June 5th, The Coca-Cola Beverages Africa (CCBA) reaffirms its commitment to building a more sustainable future. Coca-Cola acknowledges the importance of environmental responsibility and…
Three years ago, MTN Uganda embarked on an ambitious project to restore 220 hectares of forest cover. This initiative, part of the larger “Uganda is Home” campaign, celebrated the symbiotic relationship between…
The Capital Market Authority (CMA) is pleased to announce the appointment of Mr. Thapelo Tsheole as the new Chief Executive Officer. With a distinguished career spanning over 24 years in the financial…
In a bid to encourage timely loan repayments and responsible financial behavior, NCBA Bank Uganda and MTN MoMo have partnered to launch the “Mo Cash with Mokash” campaign. The eight-week campaign, which…
KCB Group CEO Paul Russo has been named the African Business Leader of the Year by Africa Leadership Magazine. Russo’s selection followed rigorous and competitive competition on the African continent, with leadership…
Monday 27th May 2024. Kampala, Uganda: SBG Securities Uganda Limited (a wholly owned subsidiary of Stanbic Uganda Holdings Limited), in its capacity as the lead sponsoring broker, on behalf of MTN Uganda…
The International Finance Corporation (IFC) has projected that Africa will need to double its annual expenditure to $6 billion in order to expand its digital infrastructure and bridge the connectivity gap between…
Telecom firm MTN Uganda plans to sell shares left over from its deeply undersubscribed 2021 Initial Public Offering to local investors to expand local ownership and comply with regulatory requirements, it said…
Highlights: Johannesburg, South Africa – May 24, 2024 – Despite 64% of Africans expressing confidence in the continent, they remain loyal to non-African brands, which have retained their lowly 14% of the…
The Ugandan government is banking on its comprehensive Business Process Outsourcing (BPO) and Information Technology Outsourcing (ITO) strategy to create 100,000 direct jobs by 2030. This ambitious plan aims to tackle the…
French oil company, TotalEnergies EP Uganda has reaffirmed its commitment to creating more opportunities for young people in Uganda to continue making meaningful contributions in their communities. The commitment was made during the…
Early this year, Stanbic Uganda Holdings, the parent company of Stanbic Bank Uganda, announced a profit of over Sh400 billion after tax. This was attributed to the bank’s innovative lending initiatives. In…
dfcu Limited is celebrating 60 years of operation and impactful service towards fulfilling its purpose of ‘Transforming Lives and Businesses in Uganda’. dfcu was established in 1964 as a development finance institution and since then,…
The Diamond Trust Bank has bid farewell to its former Managing Director, Varghese Thambi, marking the end of his 17-year tenure with the bank. Thambi, who joined DTB in 2007, was hailed…
Uganda Development Bank (UDB) and its partners have today organized a blood donation drive to bolster the much-needed blood bank at Mengo Hospital. Mengo Hospital and Minet are the technical partners in…
Baileys, the renowned Original Irish Cream Liqueur, is breaking new ground with an exciting trial of its revolutionary paper-based bottle. In partnership with PA Consulting, Baileys is introducing a Dry Molded Fiber…
Only one Kenyan fintech startup has made it through into the second cohort of Visa’s Africa Fintech Accelerator program. Out of the possible 20 only CheckUps Medical Hub, an Embedded health Kenyan startup, made…
IFC, a member of the World Bank Group, and Absa Group Limited, a South African-based bank, will provide an up to US$60 million commodity trade finance facility to Volcafe, a leading global…
NMB Bank PLC, Tanzania’s leading financial institution, has listed its maiden three-year US$ 73 million Sustainability Bond on the International Securities Market (ISM) and Sustainable Bond Market (SBM) Platform at the London…
The Fintech Association of Kenya (FINTAK) has appointed Dr. Juliet Ongwae as a Board Director, effective May 20, 2024. Dr. Juliet currently serves as the Senior SupTech Specialist at the Cambridge SupTech…
The United Bank of Africa (UBA) has pledged to set the benchmark for African businesses by forging a united Africa, as it continues on its march towards connecting its customers to the…
Spiro, the largest electric vehicle company in Africa, is charging ahead in its mission to revolutionise sustainable transportation across the continent and it recently signed a heads of terms agreement for a…
The African Export-Import Bank (Afreximbank) and MobiHealthCare Limited (MobiHealth) have signed a project preparation facility agreement that is expected to bolster the expansion of Mobihealth’s telemedicine services in Nigeria, and also assess…
The Uganda Tourism Board (UTB) has announced a comprehensive initiative to register and license all tourism enterprises in the country, aiming to identify and eliminate illegal operators. This move targets all unlicensed…
A Trailblazer in Banking: Ms. Grace Muliisa In the dynamic world of finance, Ms. Grace Muliisa stands out as a transformative leader who has reshaped the banking landscape in Uganda. With a…
Controversy has arisen over the appointment of Eng James Kwesiga Nkamwesiga as Executive Director, of Uganda National Bureau of Standards (UNBS) announced last week. UNBS announced Nkamwesiga successful candidate from the selection…
Liberty Life Assurance Uganda has introduced the Kuza Plan, a revolutionary financial product merging savings with life and disability insurance. Positioned as a beacon of security and adaptability, officials said at the…
The Minister of Trade, Industry, and Cooperatives, Francis Mwebesa, has appointed Eng James Nkamwesiga Kasigwa as the fifth Executive Director of the Uganda National Bureau of Standards (UNBS). In a statement, UNBS…
Equity Group Holdings has announced a remarkable recovery, posting a 25% growth in profit after tax for the quarter ended March 31, 2024. The Group’s profit after tax stood at Kshs 16…
Nicholas Lutakome, the former CEO of Sanlam Uganda, has been named the New Chief Executive of CIC Insurance Uganda Limited. Mr. Lutakome was selected to succeed Mr Richard Ssevume who stepped down in…
AutoXpress Ltd has announced the grand opening of its third branch in Uganda, further expanding its presence in the country. With over 66 years of experience in the automotive industry, AutoXpress boasts…
Standard Chartered Bank Uganda has been named the best-performing Primary Dealer Bank in the Government Securities Market for the year 2022-2023, earning the honour for the second time since the inception of…
Coca-Cola Co. is advancing plans for a significant initial public offering of its African bottling arm as soon as 2025, with a valuation that could exceed US$8 billion. This major financial move…
Absa Bank Uganda, in partnership with World Vision Uganda, has commissioned facilities to improve water and sanitation for the girl-child in Abim district, Karamoja. This intervention aims to promote the continued inclusion…
The Uganda Tourism Board (UTB) and Emirates Airlines have signed a partnership agreement aimed at promoting Uganda’s diverse tourism offerings to a global audience. The collaboration, announced by UTB CEO Lilly Ajarova,…
Safaricom Plc has released its financial results for the full fiscal year of 2024, reporting robust earnings propelled largely by its M-Pesa mobile money platform. In its Kenyan operations, Safaricom witnessed a…
Absa Bank Uganda and DHL Uganda have announced a partnership to support 800 Small and Medium Enterprises (SMEs) in accessing export markets through the 2024 ‘Growing Beyond Borders’ Entrepreneurial Training Programme. The…
A team of researchers from Makerere University Centre for Environment for Development Initiative (EfD-Mak Center) on Friday 3rd May 2024 went to Parliament to share study findings on Uganda’s heavy reliance on fuel wood and…
The 2nd Uganda-Tanzania Business Forum is set to take place on May 23-24, 2024, at the Johari Rotana Hotel in Dar es Salaam, Tanzania. The event aims to strengthen the longstanding ties…
MTN Uganda has its financial performance report for the first quarter ended 31 March 2024, indicating growth across all segments of the business. According to the report, despite MTN Uganda operating in…
Uganda Airlines has taken a significant leap forward in its expansion plans with the arrival of a brand-new Airbus A320 aircraft at Entebbe International Airport. The 160-seat aircraft, configured with a 12-seat…
Mumba Kenneth Khalifungwa is a distinguished leader serving as the Managing Director of Absa Uganda, bringing with him a wealth of experience and a visionary leadership style. His tenure has been marked…
A thriving creative economy fuels innovation, jobs, and economic growth across Africa. Recognizing this potential, the African Union and Google Africa have joined forces to launch the #DiscoverMyAfrica Shorts Challenge, a month-long…
East Africa Regional Director for the Ford Foundation Jessica Horn paid a courtesy call on the Judge President of the East African Court of Justice (EACJ), Justice Nestor Kayobera, at the EACJ…
Technology is the major catalyst for spurring insurance uptake and penetration in the foreseeable future according to Jubilee Life Insurance’s Diana Ndege Ssempasa. Ssempasa who was speaking at the 13th Annual Insurance Agents…
MTN Uganda has strengthened its grip on the mobile networks market, growing its new customer base by more than 500,000 in the past four months to hit 20 million. The telecom company’s…
The Agricultural Business Initiative (aBi) has launched two innovative programs worth Ushs66.8 billion to revolutionize Uganda’s agricultural sector and tackle the climate crisis. The Green Agrifood System Programme (GRASP) and Accelerating Adoption…
Kenya’s Gross Domestic Product (GDP) growth is projected to slow down to 5% in 2024 from 5.3% in 2023 before jumping to 5.3% in 2025. Apart from Kenya, Côte d’Ivoire and Benin,…
Africa’s massive debt load and the nature of many of its resource-backed loans are compromising its economic potential, the African Development Bank’s (AfDB) President Akinwumi Adesina said recently. “I think it’s time…
In a strategic move to improve financing for Quickteller agents, Asante Financial Services Limited and Interswitch have partnered to unveil a pioneering credit service called Agent Float Financing. The new service, which…
I&M Bank Uganda has partnered with the Nnaabagereka Fund for the inaugural Queen’s Ball, a prestigious dinner event aimed at supporting women, youth, and children in Uganda. The Queen’s Ball, scheduled to…
Johnson & Johnson had received scorn for executing the so-called Texas Two-Step bankruptcy strategy. The healthcare titan was facing thousands of claims about allegedly carcinogenic talcum powder. Taking advantage of a quirk…
Parliament has approved a supplementary expenditure budget worth Shs1.106 trillion for settling the offtake arrangement between government and DEI Pharmaceuticals, wage and pension and gratuity shortfalls. During plenary on Tuesday, 30 April…
Carrefour, operated by Majid Al Futtaim in Uganda, has announced a UGX 7 million sponsorship of the Kyambogo Ultra Challenge Run, scheduled for May 4th, starting at the Kyambogo University Cricket Oval.…
LR: The Speaker of the Parliament, Anita Annet Among, Mary Goretti Kitutu, the Minister for Karamoja Affairs between 2021 and 2024, Agnes Nandutu, the State Minister for Karamoja Affairs between 2021…
Absa Life Assurance Kenya (Absa Life), an Absa Group subsidiary, has reported an increase in gross profit to KSh 862 million in 2023. “Absa Life continues to maintain a healthy quality of…
Wallace Pescarini, the President of SLB Offshore Atlantic Basin // PHOTO COURTSEY Ernest Rubondo, the Executive Director of the Petroleum Authority of Uganda, has commended SLB (formerly known as Schlumberger) for its…
In the ever-evolving landscape of financial services, one term has been making significant waves – Bancassurance. This harmonious combination of banking and insurance not only simplifies a complex concept but also creates…
In a groundbreaking move, TotalEnergies, a global leader in energy production and innovation, is revolutionizing employee engagement and empowerment, extending its transformative initiatives to its workforce in Uganda. This strategic shift not…
The Central Bank of Kenya (CBK) Weekly Treasury Bills Auction underperformed for the first time in 8 months. Bids received by the fiscal agent at this week’s auction amounted to KSh 23.6 billion, a…
Paris, April 26, 2024 – Employee shareholder ownership is the best way to associate the employees with the Company’s transition strategy, and therefore it is at the heart of TotalEnergies’ value sharing policy.…
Salaam Bank Uganda, a provide of Shariah-compliant financial services, has won the Best New Islamic Bank award at the prestigious Islamic Finance News (IFN) Global Awards, 2024. The coveted global award recognises…
Rotary International President Representative Brenda Cressey and speaker Anita Among at the 2024 Cancer Run launch at Nsambya Hospital. Looking on right is Fabian Kasi the Managing Director of Centenary Bank (right…
Uganda Baati has launched its 60th anniversary campaign at a media event held in Kampala today. Founded in 1964, Uganda Baati has been at the forefront of the steel manufacturing industry, introducing…
The world’s electric car fleet continues to grow strongly, with 2024 sales set to reach 17 million. Despite near-term challenges in some markets, based on today’s policy settings, almost 1 in 3…
The African Development Bank Group (AfDB) has reached a negotiated settlement with China Henan International Cooperation Group over failure to disclose it used a commission agent for a road project in Uganda.…
Sylvia Mulinge, CEO MTN Uganda MTN Uganda reports a 16.1 percent growth in revenues to 2.63 trillion shillings for the year 2023. Most of the revenues, (1.12 trillion) still came from voice…
Photo Courtesy: Bamburi Cement PLC Bamburi Cement PLC has sold 1.3 million ordinary shares of its Ugandan unit to Sarrai Group Limited and Rwimi Holdings amidst shrinking demand in the cement market.…
Anne Juuko The Standard Bank Group has appointed Stanbic Bank Uganda Chief Executive Anne Juuko to a new leadership role as Global Markets Regional Head-East Africa. The appointment is effective 1 April…
Michael Mugabi, Managing Director/CEO of Housing Finance Bank highlighted what he described as the bank’s strategic focus on enabling micro, small, and medium enterprises (MSMEs), especially those owned by women. Uganda’s Housing…
NSSF Managing Director Patrick Ayota. The National Social Security Fund (NSSF), Uganda’s national savings scheme, has hit Ugshs 20 trillion in Assets Under Management (AUM), one and a half years ahead of…
The Minister of Energy and Mineral Development, Ruth Nankabirwa who chaired the AGM said the government is committed to supporting UEDCL as it prepares to take over Umeme territory to ensure the…
As the global investment landscape continues to evolve, Africa stands at the forefront of emerging opportunities, poised for sustainable economic growth and development. Recently, the 7th Pensions Funds and Alternative Investments Conference…
Chimpanzees: Photo: Internet As the world gears up to celebrate World Wildlife Day today, Uganda stands at the forefront of efforts to connect people with the planet, particularly in the realm of…
Introduction: In a bold move that signals a new era for the iconic beverage brand, Pepsi recently unveiled its first major global redesign in 14 years. Rooted in its rich heritage yet…
COURTESY PHOTO: Grace Semakula, Newly appointed Chief Executive for SBG Securities Uganda Limited (SBGS) Stanbic Uganda Holdings Limited (SUHL) has appointed Grace Semakula as the new Chief Executive for SBG Securities Uganda…
Courtesy Photo: Chief Executive Officer, Mark Muyobo NCBA Bank unveiled its revamped Premier Banking offering, targeting premier banking customers, prospects, and high-value stakeholders. The key features of the enhanced offering include extended…
From Pinterest: Admassu Tadesse, TDB Group President and Managing Director Admassu Tadesse Admassu Tadesse stands at the forefront of Africa’s financial industry, wielding his expertise and leadership to drive growth and development…
Manoj Murali, Managing Director, Airtel Uganda Airtel Uganda’s Managing Director, Manoj Murali, Leads Digital Empowerment Efforts at NAM Conference. In a dynamic world reshaped by technology, Airtel Uganda’s Managing Director, Manoj Murali,…
Courtesy Photo: Varghese Thambi, Managing Director, Diamond Trust Bank and TerraPay’s Muyingo A new partnership between Diamond Trust Bank and payment services company, TerraPay, could cut by more than half the cost of…
Courtesy Photo: Anne Juuko Anne Juuko is set to leave her position as Stanbic Bank Uganda’s Chief Executive Officer, after exactly four illustrious years, for another role in the Standard Bank Group.…
Meeting in progress. Photo: Internet Environmental, Social, and Governance (ESG), as complex as it sounds is merely a set of standards that investors use to screen investments. The investments are screened through…
ESG is a framework used to assess an organization’s business practices and performance on various sustainability and ethical issues. Photo: Internet Environmental, social, and governance (ESG) is now no longer a new…
In the dynamic landscape of global finance, staying informed about the pulse of financial markets is imperative for businesses, especially local brands striving to make a mark across the continent, and as…
DR. Julia Clare Olima Oyet, the esteemed CEO of DPF, has expressed satisfaction with the unprecedented speed at which the settlement of EFC claimants is being handled. Remarkably, claimants are set to…
If Uganda emerges as a pioneer in sustainable finance within the region, it positions the country as a leader in responsible financial practices. This leadership role can enhance diplomatic relationships, partnerships, and collaborations with other nations committed to sustainability.
In a bid to strengthen the bilateral relations between Uganda and Egypt, President Yoweri Kaguta Museveni on Tuesday held a meeting with key Egyptian investors at State House, Entebbe, during which they…
On June 3, 2022, Brand Africa, in collaboration with Publics Africa Communications, hosted a captivating live event at the prestigious Protea Hotel Kololo in Kampala, Uganda.
The telecom industry in East Africa is abuzz with news of an unprecedented CEO swap between Safaricom, Kenya’s leading telecommunications provider, and MTN Uganda, a subsidiary of the multinational MTN Group.
The popular annual Brand Africa 100 Awards are back, bigger and better this year and are scheduled to be held on July 6th, 2023 in Kampala.
As one of the strategies to further improve customer experience and deliver services to its customers conveniently, Equity bank has launched a high-tech contact centre. The new Contact Centre will allow the…
MTN Uganda’s new Chief Executive Officer, Ms. Sylvia Mulinge has assumed office following the exit of former CEO, Wim Vanhelleputte, who was promoted to a regional executive role responsible for MTN Group’s…
The National Social Security Fund (NSSF) has announced a partnership with Ideawake, a global innovation software company, to expand access to the NSSF Hi-Innovator programme to more entrepreneurs across the country. In…
Uganda Breweries Limited hosted farmers to a forum to discuss the potential to scale up farming to supplement government efforts to see manufactures embrace full sourcing of raw materials they use in…
Uganda’s telecom companies have invested heavily in infrastructure services to boost internet access but the low users have limited their ability to lower internet costs for their customers including the Small and…
Today, Housing Finance Bank officially launched its Government Securities Portal with a campaign dubbed” Invest On The Go” at Mestil Hotel and Residences, Kampala. The online portal, which is housed on the…
Guy Kimbowa Lutaaya has been appointed Chief Risk Officer (CRO) at Absa Bank Uganda Limited effective 1 October 2022. He is a seasoned finance professional and banker, with over 20 years of…
The Uganda Communications Commission (UCC) has issued a public notice ordering the immediate closure of 24 radio stations and 46 courier companies for operating illegally. Notable among the couriers banned include Jumia…
KCB Bank Kenya has injected over KShs. 120 billion to support Oil Marketing Companies (OMCs) importing fuel as it seeks to consolidate its support to the energy sector. The Bank has been…
MTN Uganda’s bold decision to list its shares on the Uganda Securities Exchange last year has propelled it to the league of Africa’s most valuable companies. The latest premier annual survey by…
Google (GOOGL) suffered one of its biggest setbacks on Wednesday when a top European court fined it 4.125 billion euros ($4.13 billion) for using its Android mobile operating system to thwart rivals,…
Ms. Proscovia Nabbanja, Chief Executive Officer, Uganda National Oil Company has been nominated in the African Energy Awards 2022 as Chief Executive Officer of the year. Taking place during African Energy Week…
Local startups need to focus on niche markets that they can tap into to excel for better survival and longevity of their businesses, according to Mackinon Kabarole, Senior Manager, Business Intelligence at…
The benefits of separation of Mobile Money from the telecommunication business are beginning to be noticed as MTN Mobile Money customers are scheduled to receive UGX 5.7 billion interest pay-out for the…
Uber and Bolt have announced plans to resume operations in Tanzania, after weeks of controversy. The companies were forced to suspend services in Tanzania following the government’s regulatory changes that were enforced…
MTN Uganda and the Kingdom of Tooro have enjoyed a cordial relationship over the years. This is envisaged through the various initiatives jointly undertaken by the kingdom and MTN. This partnership is…
Absa Bank Kenya CEO Jeremy Awori is set to resign in October after a ten-year stint that saw the lender rebrand from Barclays bank to Absa. According to the lender’s board, Awori…
Stakeholders in the banking sector say financial literacy and skills development should be prioritized in efforts to support Small and Medium Enterprises (SMEs) recover from covid-19 frustration, Speaking during the Signing of…
Prudential Uganda and Prudence Foundation launched the SAFE STEPS road safety campaign, a public service program aimed at raising awareness about road safety, by providing clear and simple life-saving messages on road…
Priscilla Akora is the new Head of Marketing and Communications at PostBank Uganda Limited. In her new role, she will be responsible for driving integrated marketing communications, as well as a reputational…
African Development Bank Vice President Dr. Beth Dunford speaks at a pre-AGRF Summit event centered on the Bank's new African Emergency Food Production FacilityThe African Development Bank returns as a top-tier partner…
Uganda Clays net profit has dropped by more than half to Shs2.7bn for the first six months ending June.30 but management insists there are no worries at least for now. “We project…
DTB recorded a 30% growth to Shs20.3bilion driven by an increase in interest income, fees and commission, and foreign exchange business as Dfcu bank saw profit after tax double to Shs18.7billion. On…
On 30th August 2019, the URA Board of Directors approved the Lifestyle Audit Policy to combat corruption and illegal acquisition of property. Lifestyle Audit is the process of analyzing a person’s living…
The phenomenal growth of Stanbic Bank’s East Africa Borderless Banking platform has revealed a pent-up demand for secure, real-time transactions across international borders. Spanning a single network that includes Uganda, Tanzania, Kenya…
Absa Bank Uganda has partnered with the Uganda Institute of Information and Communication Technology (UICT) to provide ICT skills training to youth in vocational institutions around the country. The training is accredited…
Cipla Quality Chemical Industries Limited, has announced that it will pay dividends in 4 years since it was listed on the Uganda Stock exchange. In the results for the financial year ending…
FINCA Uganda and the National Forestry Authority (NFA) have partnered to restore 60 hectares of forest land in the country in the next five years. This corporate social responsibility program to commemorate…
British American Tobacco Uganda has recorded a 14% increase in net profit to Shs3.9bn for the half year period ended June 30. Results released on Aug. 5 shows that the company’s gross…
The African Development Bank has appointed Dr. Alex Mubiru as Director General in the Cabinet Office of the Bank Group’s President, with effect from 16 August 2022. Dr. Mubiru, a Ugandan national,…
Regional lender, KCB Group, has followed the footsteps of Equity Bank to venture into the Democratic Republic of Congo. KCB Group, which already has operations in Rwanda, Burundi, Tanzania, Uganda and South…
Asmahaney is an advocate, a legal consultant and an Alternative Dispute Resolution practitioner. Asmahaney is also a Committee member on the first ever appointed Investment Advisory Committee (IAC) that advises the Minister…
Telecommunication companies have reported that their operations over the last six months have been affected by what they call a difficult macroeconomic environment, characterized by the skyrocketing cost of living and foreign…
Tuesday 9th August 2022 – Kampala, Uganda: MTN Uganda customers can now use their MTN Senkyu loyalty points to get insurance from aYo, in the form of life or hospital cover. aYo…
Xente Tech Ltd, a financial technology platform that simplifies payments and finance for businesses, has obtained the Payment Systems Operator (PSO) license from Bank of Uganda. The National Payment System Act-2020, implemented…
Uganda’s Top Finance Bank (TFB) has officially been acquired by a Djibouti based bank. The takeover of TFB by Salaam African Bank was confirmed Monday morning by the Bank of Uganda which…
Corporate communication and Public Affairs is a very important business tool that is vital for the success of any business, company, organization, or association. At a time like this of rapid, economic…
Top Ugandan lawyer, Edgar Tabaro, has been appointed as a Special Envoy of the President of Sudan’s oldest political party. Tabaro will serve as the Mahdi’s special envoy in the East African…
Sunbird AI, a non-profit organization that develops artificial intelligence systems for social impact in Africa has signed a Memorandum of Understanding (MoU) with Centenary Technology Services geared towards developing the Artificial Intelligence…
Uganda has scrapped taxes on airlines using the Entebbe International Airport, a move that will make it cheaper for transiting passengers to travel through the facility. The move, which may not augur…
MTN once again got crowned as Uganda’s most admired African brand in Uganda by Brand Africa 100 | Africa’s Best Brands rankings, based on a survey carried out across 29 countries that…
The Uganda Bureau of Statistics-UBOS and the World Bank have disagreed on the methodology used in determining the country’s economic status. They will however release a joint statement in the next 24…
Ugandans took to social media to criticize the appointment of Sylvia Mulinge, a Kenyan Corporate Executive, with some arguing that after listing on the stock exchange and unveiling the slogan “Uganda is…
Grace B. Muliisa, is a Ugandan Banker and Corporate executive, who was appointed the Managing Director of Ecobank Uganda Limited in August last year. She was the Head Personal and Business Banking…
The World Bank has put the per capita income of Uganda at 850 dollars for the financial year end 2022, with the economy growing at an estimated 3.7 percent. According to the…
Sylvia Mulinge becomes MTN Uganda CEO, joining from Safaricom, where she served as Chief Consumer Business Officer for the Group. A seasoned executive, she brings with her a passion for transforming customers’…
The government, oil and gas companies continue to counter opposition to the development of the sector in Uganda, which has recently targeted religious institutions. The crusaders accuse the government of allowing activities…
Following approval of declaration of dividends by its shareholders at the Annual General Meeting held on the 27th day of May 2022, MTN Uganda has paid out a total dividend of Ugx105.4…
The National Social Security Fund (NSSF) has put in place initiatives to support local firms’ capacity, growth and competitiveness for better business opportunities. The initiatives that are already in practice include, the…
Mr Waiswa Bageya, the Works Ministry permanent secretary, said the search for the new Uganda Airlines CEO would be redone after bid documents were sent to four firms, before settling on PricewaterhouseCoopers…
Uganda’s Court of Appeal has blocked South African moneylender, Vantage Mezzanine Fund, from selling businessman Patrick Bitature’s prime properties in Kampala. In his ruling on June 27, Justice Christopher Gashirabake said “there…
According to his family, Mr Majwega had gone to the USA to attend his daughter’s graduation ceremony in Minnesota. “With deep sorrow Ms Halima Majwega of Framingham,Ma and her family announce the…
Uganda Breweries Recognized at the President’s Export Award Ceremony Uganda Breweries has been recognized by President Museveni and the Uganda Export Promotion Board as a leading company in export promotion and import substitution. This…
Uganda Development Bank is set to lend slightly over Shs300bn in the coming six months to support businesses to overcome the current economic shocks, characterized by high commodity prices. The lender’s Chief…
The students of Kasese Youth Polytechnic Vocational Training Institute (VTI) in Western Uganda are set to reap from the generous donation of a fully furnished Digital Resource center courtesy of the MTN…
Shareholders in banking service companies will in a month’s time start receiving dividends for their investments, for the first time since 2019 following BOU approval. Stanbic Bank Uganda and Bank of Baroda…
With just UGX600, 000 or USD166 investment, Stanbic customers are now able to acquire for themselves and loved ones, annual medical insurance cover of up to UGX 20 million—this, courtesy of Stanbic…
The Uganda Bureau of statistics (UBOS) has launched structure committees mandated to collect field data regarding the statistics of the country. UBOS earlier on formulated a 5 year Plan for National Statistical…
Bank of Baroda (Uganda) Limited has informed its shareholders that it will pay the final dividend for the year ended December 31st 2020 following receipt of the necessary regulatory approval. Bank of…
Housing Finance Bank has launched the Incremental Housing Loan to unlock opportunities for Ugandans to attain affordable home ownership and financial independence. Uganda’s housing deficit stands at 2.4 million housing units and…
Cornwell Muleya, the former Chief Executive Officer of Uganda Airlines has been arrested on orders of The Inspectorate of Government-IG.. A statement by the Deputy Inspector General of Government, Dr. Patricia Achan…
Absa Bank Uganda has introduced land purchase loans in a bid to help more people realize their dream of land and home ownership. These loans will enable customers to access affordable financing…
It is not uncommon in our land for things to stop at promise and policy level without real on-ground implementation. This trend has given rise to a doubt-over-faith mentality. It is therefore…
Fifteen Ugandan banks have signed onto the TradeClear platform to ease and boost interbank trade within the country. TradeClear is an interbank trading platform managed by financial services company Frontclear and is…
The UK Government has stepped down from funding Financial Sector Deepening Uganda (FSDU) and handed over that role to the Bill and Melinda Gates Foundation, it said on June 15 in a…
MTN Uganda has today donated computers and a WiFi router and a multi-purpose printer to the Nakawa Market vendors Association as it concludes its staff volunteerism campaign dubbed 21 Days of Y’ello…
Uganda Revenue Authority has established mechanisms to start collecting VAT from non-resident service provider companies operating in the Ugandan economy. Collection of VAT from these companies is starting effective 1st July 2022,…
The Uganda Tourism Board (UTB) has announced that come January 1, 2023, all tourism players in the country will require to be registered, and licensed by the Board. The UTB Chief Executive…
Mukwano Products lands grand Prix as the #1 most admired Ugandan brand. NBS, Centenary Bank, Movit, Nile Special, Riham Drinks, and Abryanz Collection lead respective categories for best Ugandan brands. QG Group’s…
THE FORBES AFRICA 30 UNDER 30 CLASS OF 2022 CARE ABOUT BEING VISIONARIES OF CHANGE AND CATALYSTS FOR INNOVATION. BEING ON THE MOST-ANTICIPATED LIST ON THE CONTINENT, FOR THESE YOUNG TRAILBLAZERS, IS…
Uganda Securities Exchange has spoken out on the allegations of a data breach from its servers; specifically allegations of the leakage of personal data from the USE Easy Portal. In a statement dated…
The High Court in Kampala has dismissed with costs an application by Kampala businessman Patrick Bitature for a temporary injunction to restrain his creditors of M/s Vantage Mezzanine Fund II Partnership from selling,…
The Public Relations practitioners in Uganda have been urged to create safe working spaces within the companies they work for so as to create strong mental health amongst staff. The call was…
Government agencies and petroleum marketing companies are divided on whether or not to resume the countrywide crackdown on fuel stations that violate standards. These activities were suspended when COVID-19 broke out more…
Letshego has appointed Aobakwe “Aupa” Monyatsi as Group Chief Executive. Prior to this appointment, Aupa held the same role in an interim capacity from 4 May 2022, having led the inclusive finance…
DHL Supply Chain International Ltd, a Ugandan subsidiary of the the Deutsche Post (DHL group in Germany) has been ordered to pay UGX 1,484,422,000 of Value Added Tax (VAT) to URA in…
UAP Old Mutual has registered impressive growth and a record market leadership, according to the recently released Financial Statements for the year ended 31st December 2021. Regardless of the low insurance penetration…
Ugandan Economist and Business Executive, John Kakungulu Walugembe, graduated from Harvard University’s John F. Kennedy School of Government in May.In a color full ceremony, held at the University’s campus in Cambridge Massachusetts,…
Jumia Uganda has celebrated a decade of progress and serving Ugandans with the online platform launched in Uganda in 2012 when e-commerce in the country was virgin and today sells about six…
ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the mobile internet, today announced it has won the “Best Mobile Transport Solutions to Connect…
MTN Uganda Limited has announced the re-appointment of PricewaterhouseCoopers, Certified Public Accountants as the external auditor of the Company for the audit relating to the financial year ending 31 December 2022. The…
Kendi Ntwiga has been appointed as the Global Head of Misrepresentation for Meta, the company that owns Facebook, Instagram, and WhatsApp. This follows her departure from Microsoft Kenya, where she served as…
MTN Uganda, Chief Executive Officer, Wim Vanhelleputte.MTN Uganda shareholders are due to get their first dividends since the company listed on the Uganda Securities Exchange, with the register for those eligible closing…
Kansai Paint Co., Ltd. has entered into an agreement to sell its Africa business to Akzo Nobel N.V. (“AkzoNobel”), a global paints and coatings company, said on June 2 in a statement.…
Sanjay Rughani, a banker with over 25 years of banking experience across the African continent, has been appointed the Chief Executive Officer of Standard Chartered Bank, Uganda He replaces Albert Saltson, who…
Leading beer makers Nile Breweries Limited (NBL) have Thursday pledged to maintain the current market prices for all their products, in the face of the surging inflation in the country. The company…
Stanbic Bank has made a contribution of UGX150m to Makerere University as the institution marks 100 years of service to humanity. The UGX 150m cash donation is expected to boost activities lined…
One of the joint venture partners in Uganda’s oil sector and the developer of Tilenga project, Total Energies, has revealed that the on-going escalating fuel prices have not yet affected their works…
At the end of January 2022, Smile Telecom’s 4G LTE network was switched off and until now, the firm continues to encounter challenges on their network that have impacted the service availability.…
East Africa Breweries Limited (EABL) has appointed Anne-Joy Michira as its Marketing and Innovations Director for Africa effective 1st May 2022, taking over from her predecessor Graham Villiers-Tuthill. Prior to this appointment,…
Uganda Development Bank Ltd (UDBL), in partnership with the European Union, has announced a special call for eligible businesses in the tourism sector to apply for and receive up to Shs1 billion…
The First Lady and Minister of Education and Sports, Hon. Janet Kataaha Museveni is slated to inaugurate new buildings at Makerere University and lay foundation stones on the ongoing construction of two…
Kin Kariisa has ended his 10 years on the board of Ecobank Uganda, a subsidiary of Ecobank Transnational Incorporated (ETI), one of Africa’s largest financial brands, leaving behind a well-entrenched bank, with…
Kirunda Magoola has been appointed Public Affairs and Communications Director, Coca Cola Beverages Africa (Uganda) replacing Simon Kaheru who was appointed Group Head of Public Policy and Partnership as of 01 April…
The Coca-Cola system in Uganda yesterday unveiled a new iconic look of its leading sparkling lemon-lime flavored soft drink Sprite in a clear polyethylene terephthalate (PET) plastic bottle packaging. This shift from…
Absa Bank Uganda and Prudential Uganda have today launched the Absa Family Protection Plan, a life insurance policy, designed to help families plan for the financial needs faced during the loss of…
South African insurer Sanlam and Germany’s Allianz have agreed to combine their current and future operations across Africa in a joint venture. The total group equity value is expected to be more…
The International Finance Corporation (IFC), the private sector lending arm of the World Bank, has acquired a 6.71 percent stake in Kenya’s regional lender Equity Bank, officials said Tuesday. Mohamed Gouled, the…
UAP Old Mutual insurance company has seen its net profit nearly double from Shs 9.7billion in 2020 to Shs 17.2billion last year driven by increase in gross written premiums, better claims and…
Effective June 6, Ugandans will not be able to send money or top-up airtime for individuals in other jurisdictions. However, WorldRemit maintains that Ugandans will still be able to receive money from…
Absa Bank Uganda has contributed 65 million shillings to Makerere University to mark 100 years of excellence in building a transformed society. On Tuesday, Absa Uganda Managing Director, Mumba Kalifungwa handed a…
Over the years, on average, only 20% of the brands Africans admire are made in Africa. Nike (#1 brand overall), MTN and Dangote (#1 African brands recalled spontaneously and prompted respectively), BBC…
Marketing services firm WPP Scangroup has made preparations to write off up to Sh4.7 billion investments in its subsidiaries. The manouvre has seen the share premium account –representing the value of shares…
Godfrey Muhindo has been appointed Chief Commercial Officer for MTN Mobile Money Uganda Ltd reporting to the Managing Director. As Chief Commercial officer, Godfrey Will be responsible for running the commercial operations…
Lois Aber Kwikiriza has been appointed the new Head of Marketing at MultiChoice Uganda. Kwikiriza takes on the mantle from Colin Asiimwe who has been at the helm of marketing at MultiChoice…
Tetteh Ayitevie, who has been the Chief Strategy Officer at Prudential Life Insurance Ghana (PLIG), will take over from Acumile Majija. Majija, who has been Prudential Uganda’s CEO designate has joined Prudential’s…
The Tax Appeals Tribunal (TAT) slapped a fine of UGX 20 Million on Nile Breweries Limited (NBL) and UGX 30 Million on Standard Chartered and Stanbic Bank for contempt in a ruling…
Harriet Nakkungu, a businesswoman based in Namataba town in Mukono district had for over 12 years, desired a smartphone to boost her business but she could hardly afford one due to the…
Uganda’s financial industry risks being blacklisted by international systems for failure to put in place measures that can effectively prevent financial crimes like money laundering. This is a requirement by the Financial…
Uganda Revenue Authority (URA) officials have told Members of Parliament that 4.3 trillion Shillings projected revenue is to be foregone due to different unfunded interventions in the coming financial year 2022/2023. Led…
Uganda is set to be part of the first-ever report that will cater exclusively to the PR and communications industry within the African continent. This follows a statement released on Wednesday April…
The rising costs of fuel and other essential items is expected to affect the growth of the domestic tour and travel industry, one of the reasons the sector has to find mitigating…
Uganda’s electricity distribution firm, has seen 2021 net profit more than triple to Shs139bn owed to increase in customer base and electricity sales. This is the similar profit earned in 2019 during…
Although the slow verification and random selection of applicants for the NSSF midterm access aims to avoid malpractices for those using the manual applications, it has been identified as the probable cause…
Stanbic Uganda Holdings Limited (SUHL) has announced it grew its net profits by 11% in 2021 to earn Ushs. 269billion from Ush.242bn in 2020, driven mainly by strong growth in non-interest income…
The European Union has provided 8 million euros (31.8 billion shillings) towards efforts aimed at eliminating injustices related to the land tenure systems in the country. The grant to be administered by…
Dfcu Bank Limited on Thursday announced its audited financial results for the year ended 31 December 2021 with core business metrics remaining as total operating income grew by 21% to Ugx 369…
Petition filed by Samuel Obedgiu has raised concern over Chipper Cash operations in the market, tasking officials at the Capital Markets Authority (CMA) to explain how the firm is encouraging Ugandans to…
Uganda Tourism Board (UTB) on Wednesday launched its new destination brand Explore Uganda, The Pearl of Africa, as part of a tourism and media launch event held at the Sheraton Jumeriah Beach…
Absa Group has announced the appointment of Arrie Rautenbach as Chief Executive Officer (CEO), effective immediately. “On behalf of the Board, I am delighted to announce the appointment of Arrie as our…
On March 30, Stanbic Bank donated Shs 70 Million to the LéO Africa Institute towards supporting its Young Emerging Leaders Project, which fosters leadership skills by emphasizing empathy, clarity, knowledge and volunteerism,…
The Netherlands Embassy in Kampala partnered with the award-winning Ugandan fintech Emata to accelerate the availability of affordable digital loans to smallholder farmers in Uganda. The partnership includes a grant of up…
A Rwandan scientist, Audace Nkeshimana, who graduated from Massachusetts Institute of Technology (MIT), an elite US-based university, is looking to make radiology services remotely accessible to Rwandans by using Artificial Intelligence (AI).…
The Uganda Investment Authority (UIA) awarded CNOOC Uganda Limited the FID (Final Investment Decision) Appreciation Award for the Lake Albert development project. President Yoweri Museveni, at this landmark ceremony, said that the revenues accrued from…
The Uganda Electricity Transmission Company Ltd (UETCL) chairman Board of Directors, Mr Peter Ucanda, has resigned from his job citing what he called negative media reports that have soiled his hard-earned reputation…
The Uganda Tourism Board (UTB) in partnership with Private Sector Foundation Uganda (PSFU), Uganda Tourism Association (UTA), Mastercard Foundation and Adventure Vacation Safaris are hosting a domestic tourism promotion tour at Murchison…
As pressure is mounting for countries to reduce carbon dioxide emissions, the government of Uganda has partnered with an investor to build a carbon-neutral refinery to meet the energy needs of the…
The Luxembourg Stock Exchange (LuxSE) and Rwanda Stock Exchange (RSE) have signed a long term Memorandum of Understanding (MoU) between the two institutions to improve cooperation. The event was held during a…
Kenya’s Equity Group saw its net profit nearly double for the 12 months to December 31, 2021 on the back of a reduction in loan loss provisions and growth in interest income…
Digital credit providers (DCPs) in Kenya will have to disclose their sources of funds and provide evidence of the same following the coming into force of a law meant to regulate the…
Cipla Quality Chemicals Limited (CiplaQCIL) has joined other stakeholders in drug manufacturing, storage, regulation and sales to participate in the East Africa Phartech Pharmaceutical and Healthcare Exhibition. Speaking on the sidelines of…
Kyambogo University has partnered with China National Offshore Oil Corporation (CNOOC) for collaboration in the areas of internship, employment of graduates, Joint research, and technology transfer, among others. Prof. Eli Katunguka –…
The government is determined to continue with the electronic system of agricultural input purchases. The e-Voucher system launched in 2019 was developed by United Bank for Africa and used as a purchase…
The National Social Security Fund has paid out Ushs78.8 billion to 4,417 eligible members to date, UGX 20.8 billion above its weekly target of UGX 50 billion. Speaking to media at a…
Developed in partnership with The Humane League, the first-of-its-kind commitment goes beyond what legislation prescribes and contributes to further improvements in farming conditions in the region. Under the new Farmed Animal Health…
One of the biggest recent surprises in the African logistics sector over the past few months has been Bolloré’s decision to pull out of the industry. The French conglomerate has been a…
Uganda Airlines has completed feasibility studies on a number of routes the National Carrier plans to fly to. Some of the routes in question include Mumbai in India, London in United Kingdom,…
E-commerce firm, Jumia has officially launched the 9th edition of its annual tech-sale. Executives said yesterday (March 21) in Kampala that the sale activity will run from March 21 to April 3rd…
The Rt. Hon. Robinah Nabbanja, the Prime Minister of Uganda has urged entities charged with overseeing the oil and gas operations in the country to widely publicise the National Oil Spill Contingency…
Ugandan Apple Products’ dealers Sagebuyers have announced a partnership with Lipa Later, Kenyan tech-led consumer credit platform to enable their clients receive iPhones and other Apple products available at the Sage Buyers…
Kenya-based agritech Apollo Agriculture, which helps farmers access high-quality farm inputs, financing and markets, plans to double the number of farmers it is serving by the end 2022 and to introduce other products…
The International Monetary Fund-IMF, has given Uganda a clean bill of health regarding the handling of the COVID-19 pandemic, the funds and the economy as a whole. For this, the Fund’s board…
The social media hashtag #OneStepCloser that has been gaining popularity in recent weeks can now be firmly linked to Stanbic Bank Uganda, as the lender’s new brand campaign aimed at rallying Ugandans…
Over the last two years, the COVID-19 pandemic impacted businesses on national and global scale. Governments in many developing countries introduced severe containment measures, involving restrictions on economic activity and mobility, to curb…
Bancassurance contributed UGX103.5billion to the UGX1.1trillion Gross Written Premium (GWP) recorded by Uganda’s insurance sector in 2021 with Stanbic Bank accounting for 22% to consolidate its position as market leader. Bancassurance is…
Saltson, a Ghanian national was appointed CEO and Managing Director of Standard Chartered Bank Uganda in March 2017. He took over from Herman Kasekende, the first Ugandan to head Standard Chartered Bank,…
Digital safety is a fundamental right for consumers, and all stakeholders should join hands to enforce it, the Uganda Communications Commission Ag. Executive Director Irene Kaggwa Sewankambo has said. “The Commission recognises…
Michael Atingi-Ego, the Deputy Governor of Bank of Uganda, said, “Uganda’s inspirational ranking amidst a raging Covid-19 pandemic should galvanize us to sustain the good policies and interventions as well as to…
The Deposit Protection Fund (DPF) has revealed that it has about 20.1 billion which is supposed to be paid to shareholders and depositors of closed financial institutions upon the conclusion of liquidation…
Kampala – 3rd May 2022: Airtel Mobile Commerce Uganda Limited (AMCUL), the leading mobile financial solutions provider in the country, has today appointed Hon. Maria Kiwanuka as Board Chair. The appointment that…
March 3, 2022. The Insurance Regulatory Authority of Uganda (IRA) has launched the inaugural Insurance Week, an event that seeks to take insurance information closer to the people so as to enable…
CNOOC Uganda has confirmed a final investment decision (FID) for the Kingfisher field, marking another step forward for the Lake Albert development. Energy Minister, Ruth Nankabirwa, said on November 3rd the chairman…
Representatives from MTN Uganda and SBG Securities plus Crested Capital (stockbrokers of the MTN IPO), have arrived in Arua for a town hall meeting to drive awareness and provide vital information about…
Uganda Investment Authority (UIA) yesterday 2nd November 2021 received 1 square mile of land for industrial park development from the Ministry of Defence in Nakasongola. The land was received by the UIA…
The Buddu County (Pokino) has urged the people of Masaka to embrace economic development as MTN spreads awareness about how Ugandans can participate in the ongoing MTN Initial Public Offering (IPO). Levis…
Standard Bank customers in eight African countries to enjoy enhanced digital payments experience in partnership with Flutterwave On 28th October 2021, in Johannesburg, South Africa, Standard Bank, the parent company of Stanbic Africa…
The parliamentary trade committee has stopped the payment of a stimulus package of Shs 3 billion to Kampala Serena hotel by Uganda Development Corporation (UDC). Serena hotel is owned by a consortium that…
China National Offshore Oil Corporation (CNOOC) Uganda has stepped out with projects aimed at preparing Bunyoro kingdom subjects to tap into opportunities created by the oil and gas sector. While the discovery…
The Uganda Investment Authority (UIA) and the American Chamber of Commerce Uganda (AmCham) have today signed a Memorandum of Understanding (MoU) to promote and facilitate American investment in Uganda. The agreement aims…
Ecobank Uganda, a member of the leading pan-African banking group, the Ecobank Group, is celebrating the ninth annual Ecobank Day, its flagship corporate and social responsibility annual event that ‘gives back’ to…
The Uganda Tourism Board (UTB) has urged Government to provide additional funding to a tune of Shs3.3bn to promote Uganda’s tourism at the ongoing Dubai Expo despite questions raised on the partial expenditure…
The committee on trade, tourism, and industry has tasked the Uganda Tourism Board (UTB) to account for the 360 million shillings spent during the Dubai 2020 Expo. UTB led by its Executive…
Airtel Uganda has partnered with Ankole Coffee Producers Cooperative Union(ACPCU) to provide the convenient Airtel Money payments platform services to enhance payments of ACPCU’s member farmers in a simple and secure way…
The Uganda Registration Services Bureau (URSB) as part of their All- digital, All-online strategy has today, 26th October 2021, launched an Intellectual Property (IP) Online Filing (Front Office) System that is designed…
Stanbic Bank and traders under the umbrella body, Kampala City Traders Association (KACITA), recently signed what they described as a ground-breaking trade and tax partnership pact that will ease the clearing of…
Uganda has secured a new market for its milk in Zambia following a long unresolved impasse with Kenya which was the largest market for Uganda’s exports. Since December 2019 when Kenya authorities…
In a highly anticipated event, MTN Uganda’s youth platform, MTN Pulse yesterday on the 24th October 2021 unveiled a partnership with seasoned fashion mogul, Santa Anzo through her establishment ARAPAPA by Santa…
It is as fresh as an oven-baked cake that MTN Uganda has offered over 4.5 billion shares to the public for acquisition. The offer signifies that the public can now become shareholders of…
MTN Uganda in partnership with SIMFY, the developers of Ayoba, has launched a campaign dubbed ‘Life inside Ayoba’ that will see Ayoba users sending MTN MoMo for free to fellow Ayoba users.…
Uganda Revenue Authority (URA) has missed its target for the first quarter of the financial year 2021/22 by Shs 499.49 billion. Out of the Shs 4.959 trillion target set by government, the…
ACCA Uganda and Deloitte have officially unveiled the 5th (2021) edition of the Chief Financial Officer Awards to be held on December 09th, 2021 under the theme, “Finance leaders as drivers of…
When MTN announced that it would be selling shares to the public last week, it emphasized that Ugandans would take priority. The telecom even revealed some incentives that Ugandans would enjoy in…
Stanbic Bank Uganda has taken control of petroleum products distributor MOGAS after the latter reportedly failed to pay back a three-year loan. The bank immediately put the company, whose full name is:…
On Monday 11th October 2021, MTN Uganda opened its Initial Public Offer that will run until 22nd November 2021 at 4 pm. The MTN Uganda Chief Executive Officer (CEO), Wim Vanhelleputte, sheds…
Whereas several Ugandans are struggling to access their savings with the National Social Security Fund (NSSF), the managers of the Fund are literally swimming in billions of cash. Credible sources within this…
“Mr. Kanyagoga was irregularly recruited as he didn’t meet the criteria in the advert and lacks the requisite integrity to run such a highly specialized agency with regulatory powers,” said a Whistleblower.…
For 10 years now, Forbes has published an annual definitive compilation/list of young people changing the world by building brands, creating jobs, and transforming lives in their respective fields. Today, 08th October…
Officials of the Uganda Tourism Board (UTB) have come under fire from several Ugandans who are faulting them for not only embarrassing President Yoweri Kaguta Museveni but also the entire country during…
The strategy by telecom giant MTN Telecommunications Company of getting Ugandans involved as partners in its activities has been described as very important by President Yoweri Museveni who said it allows Ugandans…
Uganda Securities Exchange’s (USE) Securities Central Depository (SCD) and MTN Mobile Money have today unveiled a digital SCD account opening platform to further efforts towards financially including all Ugandans. A Securities Central…
Stanbic Uganda Holdings Limited (SUHL), a member of the Standard Bank Group, has demonstrated business resilience, weathering through the effects of the Covid-19 pandemic to post a robust performance in the first…
Equity has been named the Best Regional Bank in East Africa by the 2021 African Banker Awards. The award was conferred to the Bank for its strong and consistent financial performance, its…
MTN Uganda, in line with its vision of delivering a bold new digital world to its customers is set to transform Uganda’s homes into smart homes with MTN WakaNet MAX, a home…
Transformation of Uganda into a modern, prosperous society as laid out by the National Development Plan III will largely depend on how fast Uganda can harness, protect and utilize intellectual property, the…
The economy in general and the real estate sector specifically, remained subdued over the past one and a half years due to the lockdown restrictions that affected different sectors of the economy.…
The signing of the Shareholder’s agreement of EACOP and the Tariff and Transportation Agreement by Uganda and Tanzania, resulted in a marked increase in inquiries across asset classes in Kampala. The aforementioned…
In a bid to expedite addressing land issues such as illegal land evictions, incidents of corruption and bribery, Lands Minister Judith Nabakooba yesterday launched a National Call Centre based in Wandegeya. She…
Vice President Jessica Alupo has said corruption is partly seen in leaders’ behaviors and called for exemplary leadership to fight the vice. “You are holding these public offices in trust of the…
The Government of France has donated to Uganda sh10.8 billion covid fight items such as one million FFP2 face masks, fifty four thousand six hundred antigen testing kits and nine Osiris3 respirators. They were…
Ministry of health has condemned malicious attacks on Ministry of Health officials by groups of persons who have been politically organised with an intent to defame . This follows yesterday’s protests by a…
Real Sector Annual Headline inflation slightly increased to 2.0% in June 2021 from 1.9% the previous month, largely driven by increases in prices for food and non-alcoholic beverages during the month. Economic activity weakened in June 2021 largely on account of the implementation of restriction measures to curb the resurgent spread of Covid-19 during the month. Similarly, sentiments about doing business,…
The National Bureau for Non-Governmental Organisations (NGO Bureau) under the Ministry of Internal Affairs has said Maya Project Uganda Chapter, an organization under spotlight for alleged trafficking, is nota registered NGO. NGO Bureau…
The Uganda Investment Authority (UIA) is on move to prioritize channeling its investment support to local scientists and innovators that are active in the pathogenic economy. Uganda stands to benefit from investments in…
Government has agreed to take over Busoga University as a public institution with its sh15b loan, which President Museveni on Sunday morning said will be paid after its accountability. The development follows…
The Communications sector in Uganda has weathered the storm caused by COVID 19 and registered growth, with total subscriptions crossing the 28 million mark, according to the Uganda Communications Commission (UCC) quarterly…
Prudential Assurance Uganda Limited (Prudential Uganda) has successfully transferred the policy holders, staff and agents of International Air Ambulance Healthcare (IAA Healthcare) to its business. This follows a comprehensive transfer process that…
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…
African Guarantee Fund has announced the appointment of Jules Ngankam as the new Group Chief Executive Officer.
The government of Uganda through the Ministry of Agriculture, Animal Industry and Fisheries (MAAIF) are optimistic that the National Strategy for Youth Employment in Agriculture (NSYEA) is one of the quickest measures…
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