The Uganda shilling slipped against the US dollar during the week ending 25th May 2018 undermined by a surge in demand mainly from fuel importers , some corporate players as well as interbank. Trading was in the range of 3735/3745. In the interbank money market rates held steady with overnight
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Winners of the 2018 African Banker Awards have been announced at a prestigious Gala Dinner in Busan, South Korea. The Awards, held annually on the fringes of the Annual Meetings of the African Development Bank, celebrate excellence in banking and finance on the African continent. East Africa dominated the awards
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The Bank of Uganda (BoU) on Monday announced that the method of pricing treasury bills and bonds in the primary auctions will change to one of a single price from the current multiple prices with effect from July 2, 2018. In the single price method, the respective securities in the
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Banking industry assets increased to Shs26.5 trillion in 2017, up from Shs22.5trillion recorded in 2016, Business Focus exclusively reports. According to 2017 financial statements for all the 24 banks obtained by this site, Stanbic is Uganda’s largest bank by assets. Its assets increased to Shs5.4 trillion in 2017, up from
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Pan-African Bank-Ecobank won the Best Digital Strategy Award at the Retail Banker International’s prestigious awards ceremony held at the Waldorf Hilton Hotel in London last week. Ecobank’s digital strategy leverages digitalisation for scale and ubiquity and is the key plank in its ambition to be the top consumer financial services
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Uganda’s leading power distributor, Umeme has revealed that it isn’t panicking over the uncertainty surrounding its contract renewal. The remarks were made by Patrick Bitature, the Umeme Board Chairman while addressing the press at Sheraton Hotel on Thursday after the company’s Annual General Meeting (AGM). “We are not in panic
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dfcu bank Chief of Business & Executive Director, William Sekabembe has revealed that banks that will not invest in technology are set to become obsolete. “Our commitment is to invest in technology. If banks don’t invest in technology, they will become irrelevant,” Sekabembe said, adding: “We are enhancing our technology
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The Uganda Revenue Authority Headquarters twenty two (22) floor building is set to be completed by end of August this year, the tax body officials have revealed. The state-of-the-art building is divided into four podiums and eighteen tower floors totaling to 26,021 square metres. The project also provide for a
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Ford Motor Company and its distributor, Cooper Motors Corporation (CMC) Uganda on Tuesday unveiled the all-new Ford Everest at a media breakfast briefing held at the CMC headquarters in Nakawa. The Everest is designed to be sporty and tough and offers a bold design, advanced technology, exceptional off-road and on-road
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Al Ahly football committee accepted the resignation of head coach Hossam El-Badry after the team lost to KCCA FC 2-0 in the second fixture of the CAF Champions League Group Stages, reports Egyptian based kingfut. El-Badry’s season took an unexpected turn as the Red Devils failed to find victory in their
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