A new study from Habitat for Humanity says that housing microfinance can and should become a mainstream offering for financial institutions in Sub-Saharan Africa as they respond to growing housing needs in the region, particularly from poor people. The business case study, released Thursday, is entitled “Building the Business Case
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A big misunderstanding has erupted between Uganda Revenue Authority (URA) and commercial banks after the tax body asked the latter to unveil it with all account details of their customers, Business Focus reports. In a letter dated March16, 2018, URA asks banks to send in all information of their customers
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By Aloysious Kasoma Finance Trust Bank (FTB) has unveiled a new product; Trust water and Sanitation Loan aimed at extending safe and clean water to low income earners. Speaking at the launch on Wednesday at Serena Hotel, the FTB Managing Director Annet Mulindwa Nakawunde said that the loan was developed
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As Uganda prepares to see her first oil in 2020, Small and Medium Enterprises (SMEs) have been urged to prepare as well to cash in-on the opportunities in the sector. According to experts, US$15bn (Shs54.7 trillion)-US$20bn (Shs73 trillion) is expected to be invested in Uganda’s oil and gas sector in
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The office of the Auditor General is carrying out a broad forensic audit into the operations of Bank of Uganda and is demanding accountability for Shs200 billion taxpayers’ money that was injected into Crane Bank before it was sold to Dfcu Bank. The AG is carrying out the audit on
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Bank of Uganda (BoU) has released interest rates and bank charges for personal accounts of Uganda’s 24 banks as at January1, 2018. This highlights the most expensive and affordable banks. BoU said it is publishing these Commercial Bank Interest rates and charges to promote transparency and enhance competition in the
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The upgraded version of Ecobank’s revolutionary mobile app has attracted 3 million new customers in just six months, taking the total number of users to 4 million in Africa. The app builds on the core functionality that saw the original version applauded as a game changer for African banking by
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It’s not party time yet for dfcu bank as borrowers increasingly fail to pay back their loans, a thing that could adversely affect the bank’s performance going forward. According to dfcu bank’s released results for 2017, borrowers have completely failed to pay back Shs27.2bn (the bank has since written off
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International firms from the British, Norwegian, and Dutch Governments have allegedly colluded with the management of dfcu bank and Bank of Uganda (BoU) as the Regulator of commercial banks to cheat the shareholders Of Crane Bank of their assets. Sources indicate that the governments of Britain, Norway and the Netherlands
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dfcu bank has recorded an impressive Shs127.6bn net profit in the year ended 31 December 2017, up from Shs46.2bn registered in 2016. This means that the profit increased by a record Shs81.4bn. According to the bank’s financial statements released Thursday, dfcu bank registered impressive results on all key performance parameters
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