A pie chart showing banks with largest and smallest assets Total assets for Uganda’s 25 banks increased by 342% to Shs49.51 trillion in 2023, up from Shs45.45 trillion recorded in 2022, Business Focus exclusively reports. According to results exclusively analyzed by Business Focus, the top 10 banks control 80.98% of
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Coca-Cola Beverages Africa has put in place systems that are environmentally friendly “At Coca-Cola Beverages Africa (CCBA), our sustainability strategy is centred around people—consumers and our employees—and driving sustainable solutions that build resilience into our business to respond to current and future challenges, while creating positive change for the planet,” said
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BoU Deputy Governor, Micheal Atingi-Ego (Centre) addressing the press Bank of Uganda’s Monetary Policy Committee (MPC) on Tuesday maintained the Central Bank Rate (CBR) at 10.25% for the month of June 2024. CBR is a key lending rate for commercial banks. BoU maintained the CBR at 10.25% on grounds that
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African economies remain resilient, despite challenges that are testing economies worldwide. According to the latest African Development Bank Group’s African Economic Outlook (https://apo-opa.co/3KrFNjn), 41 countries on the continent are projected to experience stronger growth rates in 2024 than they did in 2023. The report unveiled at the Bank’s Annual Meetings
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A photo montage of bank CEOs Banks are struggling to recover money advanced to customers in form of loans as the economy bites hard. According to the exclusive analysis by Business Focus of the audited financial statements of the 25 banks for the year ending 31st December 2023, Non-Performing Loans (NPLs)
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A photo montage of some bank CEOs/MDs The Ugandan banking sector remained resilient in 2023 despite weak economic growth prospects, heightened inflation and elevated geopolitical tensions. Business Focus’ exclusive analysis of banks’ financial statements as of 31st December 2023, shows that 23 banks made a record profit of Shs1.42 trillion in 2023,
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As digitalization connects the world, cybersecurity is becoming more important than ever before. In the news, we’ve seen an increase in cyberattacks aimed at critical infrastructure such as energy, healthcare, and transportation. These attacks have affected the lives of millions of people around the world. Meanwhile, as a result of the
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dfcu Bank MD, Charles Mudiwa 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 socioeconomic transformation, growing together with Uganda since
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Finance Minister Matia Kasaija will formally read the budget for FY 2024/25 in June Parliament last Thursday approved the Shs72.13 trillion budget for Financial Year 2024/2025, up from Shs52.736 trillion budget in FY 2023/24. The theme for FY 2024/25 remains “Full monetization of Uganda's Economy through Commercial Agriculture, Industrialization, Expanding
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By Kenneth Egesa Seeking a safe and reliable way to grow your savings while supporting the Ugandan economy? Look no further than Treasury bills and bonds, issued by Bank of Uganda (BoU) on behalf of government. Treasury bills, or T-bills, are short-term government instruments with maturities of less than one
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