Uganda’s financial sector is grappling with a myriad of challenges, including rampant fraud, cybersecurity threats, health crises, and geopolitical instability. The latest case of fraud in the banking sector is the theft of over Shs60Bn from Bank of Uganda, which…
As the business landscape continues to evolve, staying ahead of the curve is crucial for success. The Stanbic Economic Insights Symposium, scheduled for March 11, 2025, at Kampala Serena Hotel, offers a unique opportunity for business operators to gain valuable…
Following his recent confirmation as the Governor of the Bank of Uganda, Dr. Michael Atingi-Ego steps into one of the most influential economic roles in the country at a time when Uganda’s monetary policy is under heightened scrutiny. His appointment…
A recent Bloomberg report dated February 10th has revealed that the European Union is set to review its multibillion euro foreign aid program, aiming to align the allocation of funds more closely with its evolving strategic and geopolitical interests. This…
The rapid advancement of technology is transforming the business landscape, making production, sales, and revenue tracking more efficient than ever. Emmy Hashakimana, Commercial Director at Uganda Breweries Limited (UBL), highlighted the impact of technology on trade in East Africa, using…
In a bid to safeguard the interests of shareholders, the Capital Markets Authority (CMA) of Uganda has introduced stringent regulations regarding the appointment or replacement of Chief Executive Officers (CEOs) in companies operating within the country. This move is aimed…
The Government of Uganda has set an ambitious target of expanding the country’s Gross Domestic Product (GDP) from USD 50 billion in FY 2022/23 to USD 500 billion by 2040. This tenfold increase is expected to be driven by key…
The Bank of Uganda’s Monetary Policy Committee (MPC) decision to maintain the Central Bank Rate (CBR) at 9.75% reflects a delicate balancing act between supporting economic growth and mitigating inflationary risks. While the Ugandan economy continues to exhibit strong growth,…
American international money transfer company Mastercard has taken a significant step in expanding Uganda’s digital finance landscape by opening its first-ever office in Kampala. This milestone marks a new phase in Mastercard’s commitment to fostering financial inclusion and accelerating digital…
The Bank of Uganda’s Monetary Policy Committee (MPC) today announced its decision to maintain the Central Bank Rate (CBR) at 9.75%. This decision comes amidst rising inflation, primarily driven by an increase in services inflation, particularly in passenger transport. While…
On Tuesday, officers from the Criminal Investigations Directorate (CID) made a bold move in the fight against abuse of government funds by arresting nine senior officials from the Ministry of Finance. The arrests followed an ongoing investigation into the alleged…
Geoffrey Kihuguru, a distinguished businessman and insurance expert, has been appointed as the new Chairman of the Board of Directors at Uganda Development Bank (UDB). Kihuguru, who serves as the Chief Executive Officer of Pentad Insurance Brokers, brings a wealth…
In a bid to enable Ugandan business operators to have easier and more affordable access to credit, Stanbic Bank Uganda has reduced its USD Prime Lending Rate (PLR) from 13.5% to 13.0% per annum. According to a statement from the…
Uganda has retained its position as one of Africa’s top financial markets, securing fourth place in the 2024 Absa Africa Financial Markets Index. The report, released in Kampala on January 28th, highlights the country’s strong macroeconomic stability and improvements in…