A top manager at Dfcu bank has quit his job to join another financial institution. William Sekabembe, who has been serving as the Chief of Business and Executive Director of the embattled DFCU bank resigned his job early this week to join KCB as Managing Director, an industry source told
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A new report has revealed how government is literally killing Uganda’s private sector and the economy at large. The Bank of Uganda (BoU) Supervision Report for 2017 released recently says that the significant increase in the banks’ investment in Government of Uganda and BOU securities, with a meager increase in
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Barclays Africa Group Limited officially changed its name to Absa Group Limited Wednesday and said it will rename its Barclays Bank subsidiaries in Uganda, Botswana, Ghana, Kenya, Mauritius, Mozambique, Nigeria, Seychelles, Tanzania and Zambia within the next two years, subject to regulatory approvals. The name change signals the start of
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Public protests against Money and Social Media taxes have necessitated Government to review the ‘unpopular and unfair’ taxes that came into force on July1, 2018. In a statement to Parliament on Wednesday, Ruhakana Rugunda, Uganda’s Prime Minister revealed that President Yoweri Museveni has listened to people’s concerns, thus asking Parliament
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Bank of Uganda (BoU) has warned that six banks that made losses in 2017 ‘risk facing liquidity issues’, a thing that might affect their growth. This revelation is contained in BoU’s Annual Supervision Report for 2017 released by Governor Prof. Emmanuel Tumusiime-Mutebile recently. “Six banks, with a combined 4.7 percent
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The number of registered Mobile Money (MM) customers across the networks increased by 8.4 percent, from 21.6 million as at December 2016 to 23.4 million as at December 2017, the Bank of Uganda (BoU) Annual Supervision Report for 2017 released recently has revealed. The report obtained by Business Focus indicates
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The interdiction of Uganda Investment Authority (UIA) Executive Director Jolly K. Kaguhangire by the Board over “serious corruption allegations” and “abuse of office” has widely been debated. In a letter dated June 26, 2018, Emely Kugonza, the Chairman, UIA Board of Directors said Basil Ajer, the Director SME & STI
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Ecobank Uganda has launched a transact and win promotion geared at driving utilization of the bank’s state-of-the-art Ecobank Mobile App under the tagline “putting power at your fingertips.” Speaking at the launch event on Sunday at Riders Lounge during the Australian Formula One Grand Prix that attracted Uganda’s top corporates,
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The 2018 Careers in Africa Employer of Choice Survey has ranked the 100 best companies to work for in Africa. Of 100 companies listed, the top four include the World Bank Group, Chevron, Exxon Mobil and the African Development Bank. The 100-list includes banks, oil companies, FMCG brands and mobile
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The Finscope Uganda 2018 report has revealed that only 3 percent of the Uganda’s adult population borrow money from a commercial bank. The report was launched Wednesday morning at Kampala Serena Hotel. The Finscope survey found that the breadth of access to financial services is quite wide in Uganda, with
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