The Governor Bank of Uganda, Emmanuel Tumusiime- Mutebile, has told distressed banks he did not name to stop wasting time begging for bailout, warning that that such move would be “extremely dangerous”. He made the remarks Tuesday at the second Uganda Bankers’ Association Annual Bankers' Conference at the Kampala Serena
Read More
A lot of things are reportedly happening at dfcu, Uganda’s second largest bank by assets. Industry sources told this site last week that William Sekabembe, the Chief of Business and Executive Director resigned his job to join KCB as Managing Director. He reportedly served dfcu a three-month notice. Last week,
Read More
Bank Lending Survey Report for the Fourth Quarter - FY 2017/18 released by the Bank of Uganda recently indicates that banks are expecting businesses to borrow more and at the same time default more on Dollar Loans. Findings from the survey for the period April – June 2018, as well
Read More
A top manager at Dfcu bank has quit his job to join another financial institution. William Sekabembe, who has been serving as the Chief of Business and Executive Director of the embattled DFCU bank resigned his job early this week to join KCB as Managing Director, an industry source told
Read More
A new report has revealed how government is literally killing Uganda’s private sector and the economy at large. The Bank of Uganda (BoU) Supervision Report for 2017 released recently says that the significant increase in the banks’ investment in Government of Uganda and BOU securities, with a meager increase in
Read More
Stanbic Bank has been recognized as the Best Bank in Uganda at the 2018 Euromoney Awards. The Euromoney Awards for excellence are the world’s most prestigious and respected banking and capital markets accolades that recognize institutions bringing the highest level of expertise, service and innovation in the global financial industry.
Read More
Barclays Africa Group Limited officially changed its name to Absa Group Limited Wednesday and said it will rename its Barclays Bank subsidiaries in Uganda, Botswana, Ghana, Kenya, Mauritius, Mozambique, Nigeria, Seychelles, Tanzania and Zambia within the next two years, subject to regulatory approvals. The name change signals the start of
Read More
Fresh details have emerged as to why Britain’s Commonwealth Development Cooperation Group (CDC) that owns nearly 10% shareholding in dfcu Bank is quitting at this critical stage. Sources say CDC isn’t happy with the decisions taken by the bank’s board and top management. For example, it is claimed that CDC
Read More
Public protests against Money and Social Media taxes have necessitated Government to review the ‘unpopular and unfair’ taxes that came into force on July1, 2018. In a statement to Parliament on Wednesday, Ruhakana Rugunda, Uganda’s Prime Minister revealed that President Yoweri Museveni has listened to people’s concerns, thus asking Parliament
Read More
Bank of Uganda (BoU) has warned that six banks that made losses in 2017 ‘risk facing liquidity issues’, a thing that might affect their growth. This revelation is contained in BoU’s Annual Supervision Report for 2017 released by Governor Prof. Emmanuel Tumusiime-Mutebile recently. “Six banks, with a combined 4.7 percent
Read More
