Banking

 The African Development Bank (AfDB) has signed an unfunded $250-million (Shs920bn) Risk Participation Agreement (RPA) facility with ABSA - a pan-Africa financial institution with a solid presence in 12 African countries. The 3-year RPA facility was signed November 12, on the sidelines of the Africa Investment Form through its trade

The Bank of Uganda has proposed stringent rules on how money from dormant accounts should be returned to the Consolidated Fund. The proposal is contained in the National Payment Systems Bill, 2019 that was tabled before Parliament on Thursday by David Bahati, the Minister of State for Planning. BoU noted

Shareholding follows investment of $50 million in AFC’s equity by Bank Group; African Development Bank becomes second investment-grade Supranational Finance Institution to join and invest in AFC. Africa Finance Corporation (AFC), a leading infrastructure solutions provider in Africa, today announces that the African Development Bank Group, Africa’s highest investment-grade rated

Commercial Banks are increasingly adopting the sale and distribution of insurance products because selling them (insurance products) gives them a new and lucrative revenue stream without high new setup costs. Besides, this fee-based income is essentially risk-free since the bank simply plays the role of intermediary.  Insurance companies on the

Absa Bank Uganda, a subsidiary of Absa Group Limited has today received the license to operateand trade under its new name from Bank of Uganda. Formerly known as Barclays Bank Uganda, the name change marks the start of a new era for the bank’s operations, one that sees the realisation

Deepak Malik (pictured) has been coopted to the Board of Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group as a Non-Executive Director. Deepak Malik joins the ETI Board of Directors as a nominee of Arise B.V. (“Arise”) which now holds a 14.1% equity stake in ETI following

dfcu Bank on Friday rolled out its Investment Club App, simplifying the day to day management of the group savings by providing a real-time view of all financial activities. The App will help with tracking contributions, managing group lending and collections; effective reporting and general administration anytime, anywhere.  The App

A hacking group composed of nationals from three East African countries has been arrested in Rwanda while attempting to breach the systems of a bank. The Rwanda Investigation Bureau says the hackers planned to steal money from clients' accounts at Equity Bank, but did not say when the hacking attempt

There is panic among traders and investors who transact in millions after Uganda Revenue Authority (URA) ordered all banks and Forex bureaus to ensure that money going abroad in excess of Shs50m is cleared by the tax body. In a letter to bank CEOs, Henry Saka, the URA Commissioner Domestic