BoU Governor Prof.Emmanuel Tumusiime-Mutebile Bank of Uganda’s Monetary Policy Committee (MPC) held on 14th April 2021 maintained the Central Bank Rate (CBR), a benchmark lending rate for commercial banks at 7%. BoU Governor Prof.Emmanuel Tumusiime-Mutebile said the “the economic recovery is proceeding and is stronger than expected at its last meeting
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Dr. James Mwangi, Managing Director and CEO of Equity Group Holdings Equity Group Holdings (EGH) has signed a USD $100 million loan (UShs365bn) facility to support its expansion across Eastern and Central Africa, enhancing its ability to serve small and medium enterprises (SMEs as it grows. In addition to operating
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Andrew Baker, Absa Group Chief Technology Officer Absa Group, one of the largest financial service providers in Africa, has launched a cloud incubator initiative in collaboration with Amazon Web Services Inc. (AWS), a leading cloud services provider, to enhance its cloud computing skills across its operations in Africa. As one
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Adad Iraguha, the Head Commercial Asset Financing at Absa Bank Uganda The lack of leasing law in Uganda is frustrating investors, Adad Iraguha, the Head Commercial Asset Financing at Absa Bank Uganda has said. He made the remarks during a recent webinar with the bank’s suppliers. “There’s no leasing law
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dfcu Bank's Executive Director, William Sekabembe speaking to customers during the roads sector customer engagement workshop dfcu Bank recently held a customer engagement workshop with prospective customers in the roads construction sector in Uganda. The workshop which ran under the theme, ‘Challenges and Opportunities in the Road Construction Sector,’ was aimed
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Tunde Thorpe, Head of Transactional Products and Service at Stanbic Bank Stanbic Bank Uganda has launched an end-to-end digitalized trading platform dubbed “Quantum Trade” to enable customers access Import Letters of Credit and Domestic guarantees quickly within few hours. The online platform will facilitate trade and allow customers receive products in
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Uganda’s Finance Minister, Matia Kasaija (pictured) has blamed the delayed operationalization of Islamic Banking in Uganda on the absence of ‘competent Muslims’ to champion it. Minister Kasaija’s remarks were in response to concern raised by Abdulatif Sebaggala (Kawempe North) who tasked Government to explain why Islamic Banking hasn’t taken place despite the enactment of the
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Equity Group Managing Director and CEO Dr. James Mwangi The year 2020 was like no other. COVID-19 struck at the beginning of the year and the East Africa region had its first case of infection in early March. The global spread of the virus quickly became a pandemic. To comply
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dfcu Bank Managing Director, Mathias Katamba presenting the bank's 2021 outlook Dfcu bank overcame COVID-19 disruptions to consolidate growth in 2020. According to the bank’s results for the year ended December 2020 released today, dfcu’s asset base increased by 18% from Ushs2.95 trillion to Ushs 3.49 trillion in 2020, upheld by strong growth in
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Anne Juuko, the Chief Executive at Stanbic Bank Uganda Ltd Stanbic Bank net profit fell by 6.8% in 2020 to Shs241.68bn, down from Shs259.094bn recorded in 2019. The decline in profit has been attributed to COVID-19 that affected several companies and the economy at large. According to the bank’s financial
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