Stephen Chikovore, the Managing Director at UAP OLD Mutual Uganda UAP Old Mutual has registered impressive growth and a record market leadership, according to the recently released Financial Statements for the year ended 31st December 2021. Regardless of the low insurance penetration (below 1% mark for years), UAP Old Mutual is leading
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The Bank of Uganda (BoU), the country’s Central Bank says that Non-Performing Loans (NPLs) are likely to rise further through 2022. A Non-Performing Loan (NPL) is a loan in which the borrower is in default and hasn’t made any scheduled payments of principal or interest for a certain period of time. In
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Ronald Muyanja, the Head of Trading at Stanbic Bank Uganda The persistent high cost of fuel contributed to negative private sector activity in May with the Stanbic Headline Purchasing Managers Index (PMI) dropping to 51.5 from to 53.9 recorded in April—readings above 50.0 mean improvement in business conditions on the
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A photo montage of some bank CEOs A number of banks are battling with customers who have failed to repay loans worth Shs1.1 trillion as of 31st December 2021. Commercial banks are required by law to publish their financial statements/results for the previous year (which ends every 31st December) in a national
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By Christopher Burke Approximately 28 percent of all female adolescents across Sub-Saharan Africa are either pregnant or have already given birth. Uganda is marginally below the continental average at 25 percent (27% in rural areas 19% in urban environments) according to Uganda Bureau of Statistics (UBOS). Despite best efforts,
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By Dumisani Moyo, Marketing Director, SAP Africa The month of May is significant for the African continent because it is during this month that we celebrate Africa Day. Africa Day commemorates the formation of the African Union on May 25, 1963. It is a day when Africans celebrate the
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Afriland First Bank Uganda will go into Uganda’s history books as the first commercial bank to voluntarily close shop and quit the market. The move by the shareholders of the bank also makes it the shortest journey of a business entity in Uganda’s banking industry, having launched operations in 2020
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The Bank of Uganda (BoU) has approved a request by Afriland First Bank’s request for voluntary liquidation, Business Focus reports. Addressing the media at the Central Bank headquarters in Kampala on Thursday morning, Michael Atingi-Ego, the Deputy Governor at BoU, said the Central Bank on on May25, 2022 exercised its powers under
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A photo montage of some bank CEOs Customer deposits for all the 26 commercial banks operating in Uganda grew to Shs28.17 trillion in 2021, up from Shs26.8trillion recorded in 2020, Business Focus exclusively reports. Every year, this website carries out an in-depth analysis into the performance of banks based on
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By Dr. Joseph Kobusheshe, Director Environment, Health, Safety and Security at Petroleum Authority of Uganda In this second article of my series on environment and social aspects related to oil and gas developments in Uganda, I specifically address the concerns relating to Green House Gas (GHG) emissions from Uganda’s oil and
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