dfcu bank recorded Shs61.7bn net profit in 2018, down from Shs127.6bn profit posted in 2017, Business Focus reports. According to the bank’s financial statements for the year ended December 2018 obtained by this Business website, the reduction in profit is largely attributed to slowed growth in some of the key
Read More
The Tony Elumelu Foundation (TEF), the leading African philanthropy committed to empowering African entrepreneurs, Friday announced 3,050 African entrepreneurs, drawn from all 54 African countries, selected to join the 5th cycle of its $100million TEF Entrepreneurship Programme. The announcement was made at the Transcorp Hilton Abuja, following a presentation of
Read More
Nedbank’s headline earnings in the year to end-December rose 14.5% to R13.5bn thanks to the turnaround of its Togo-based associate company, Ecobank Transnational Incorporated (ETI), Business Day reports. “In 2018, Nedbank Group seamlessly concluded the process of managed separation from Old Mutual and delivered a resilient financial performance, boosted by
Read More
Ecobank Uganda has appointed media entrepreneur, Kin Kariisa (in featured photo) as its new Chairman of board of directors. Kariisa is the CEO of Next Media Services that owns NBS TV. He replaces Henry Lubwama, who has been the bank’s Chairman Board of directors for the last six years The
Read More
dfcu Bank has made a contribution of Shs150m to the Rotary Club of Kampala towards the construction of the Mukono hospital project. This donation comes in a week just after the bank contributed 15m for the establishment of the Rotary Blood Bank at Mengo Hospital. While recently handing over the
Read More
Ecobank is proud to announce that its prestigious Ecobank Academy will be training 150 senior leaders of the International Federation of Red Cross and Red Crescent Societies (IFRC) from 45 African countries this week to strengthen their leadership skills with regard to helping the communities they serve. The IFRC is
Read More
Strong winds have blown off part of the roof top of Stanbic Bank branch in Fort portal municipality, URN reports. The incident happened on Wednesday afternoon following a heavy down pour that lasted for about an hour. According to our reporter, the wind blew off the roof of the behind
Read More
Uganda's Central Bank is involved in another financial scandal in which officials there are accused of not paying the National Social Security Fund (NSSF) the mandatory monthly remittances of about Shs2 billion deducted from eight employees’ salaries as required by the Act establishing the NSSF. Reports indicate that the Bank
Read More
The Minister of Finance, Planning and Economic Development, Matia Kasaija has said Islamic banking could be a good initiative for Ugandans who hope to borrow money. According to Kasaija, Ugandans have been reluctant to borrow from banks due to the high interest rates charged by commercial banks. Islamic banking, is
Read More
Absa Group Limited, one of Africa’s largest financial services providers, reported an increase in revenue and earnings for 2018, a year of almost unprecedented corporate activity as the group repositioned itself for delivery against a new growth strategy as an independent African bank. Normalised headline earnings increased 3% to R16.1
Read More
