Bank of Uganda (BoU) has issued commercial banking licenses to two institutions, bringing the total number of commercial banks to 26. In a statement issued on Friday morning, the Central Bank revealed that Opportunity Bank that has been trading as a credit institution is now a commercial bank. "Bank of
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The report, commissioned by ICAEW and produced by partner and forecaster Oxford Economics, predicts that Africa's growth rate is set for a sluggish pace after a disruption in oil production in North Africa and with low international oil prices in Francophone Africa. The situation will be further fuelled by policy
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Acknowledged as one of the continent’s leading hospitality investment experts, Wayne Troughton of HTI Consulting shared unique insights on the Top 5 and Bottom 5 Hospitality Investment markets in Africa ahead of the 10th annual African Property Investment (API) Summit in Johannesburg on 2 & 3 October. Recognised as Africa’s
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Abdulaziz M.A. Mansur (pictured) is the new Managing Director at Tropical Bank, replacing Sameh M. Krekshi, who left the bank in October 2018. After Krekshi’s departure, Dennis M. Kakeeto, who was the Executive Director became the Acting Managing Director, a position he has held for almost a year. During this
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Uganda’s Finance Minister, Matia Kasaija has warned the public against trading in Cryptocurrencies, arguing that they aren’t regulated and recognized in the East African country. “This is to inform the general public that the Government of Uganda doesn’t recognize any crypto currencies as legal tender in Uganda,” Kasaija said. He
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Ivory Coast is the market that has most rapidly improved its trade growth potential over the past decade, according to new research from Standard Chartered. The Trade20 index, which identifies the 20 rising stars of trade, places African markets Côte d'Ivoire in the top spot, and Kenya at number three.
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Tropical Bank is in final stages of rolling out Islamic Banking products and services in Uganda. Speaking at the sidelines of Tropical Bank’s annual dinner for corporate customers held at Hotel Africana on Thursday, Dennis M. Kakeeto, the Bank’s Executive Director revealed that they are ready to pioneer Islamic Banking
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Agilis Partners is Uganda’s largest maize and oilseed farming company and a leading exporter of grains from Uganda to the East African region. Agilis Partners Uganda, an initiative of American investors is made up of Asili Farms and the Joseph Initiative Ltd. The Group does its farming activities in Masindi
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Tropical Bank Limited has unveiled Abdulaziz M.A Mansur as its substantive Managing Director, replacing Sameh M. Krekshi, who was fired in October 2018 on orders of Bank of Uganda. After Krekshi’s departure, Dennis M. Kakeeto, who was the Executive Director became the Acting Managing Director, a position he has held
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The Uganda shilling was stable in the first half of the trading week ending 27th September 2019, maintaining a narrow range supported by inflows mainly from nongovernmental organizations end of month conversions, but mildly weakened in closing session as some demand mainly from the manufacturing sector emerged. Trading was in
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