Equity Bank has sent home 200 of its 300 workers in South Sudan following closure of more than half of its branches in the troubled country. The Kenya-based bank has also frozen lending in the country due to political uncertainty as a protracted civil war brought many businesses in South
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Many multinationals like to brand along the lines of Africa, but in their ways do little to live the African values. But recently I saw an exception. Ecobank trades as the pan African bank. At the unfortunate death of their company Secretary (Annette Mwiriza Mukunda) and an amazing friend to
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Centenary Bank and StarTimes on Thursday signed a partnership that will see the bank’s customers acquire affordable StarTimes high quality digital TV sets and accessories under an Asset Financing Loan Scheme. The deal was inked at Centenary Bnak head offices at Mapeera House in Kampala. Customers will be able to
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Justine Bagyenda, the Executive Director in charge of Supervision at Bank of Uganda (BoU) has been on the hot seat since the controversial takeover of Crane Bank by Uganda’s Central Bank in October last year. She has been accused of sleeping on her job as the then 4th largest bank
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dfcu bank has overcome the challenging economic environment to post an impressive Shs114bn net profit in half year results for 2017, up from Shs23.3bn in June 2016. This impressive performance follows dfcu’s acquisition of Crane Bank early this year-at an undisclosed fee. According to dfcu, certain assets and liabilities acquired
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Stanbic Bank Uganda Ltd (SBU) has recorded Shs95.4bn net profit in its half year results for 2017, down from Shs107.2bn recorded in the year ended June 2016. This represents a decline of 11%. Releasing the results on Tuesday morning at Serena Hotel, Kampala, Patrick Mweheire , the Stanbic Bank Uganda
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The Bank of Uganda (BoU) Governor Prof. Emmanuel Tumusiime-Mutebile has revealed fresh details on the collapse of Crane Bank, the then 4th largest bank by assets in Uganda. Addressing bankers at an informal dinner held at Serena Hotel, Kampala on August10, 2017, Mutebile began by saying that much of the
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The banking sector and the legal fraternity in Uganda are mourning the untimely death of Ecobank Uganda Ltd long serving Head Legal & Company Secretary. Annette Mwiriza Mukunda, wife to Julius Mukunda breathed her last on Thursday in India. She was battling Cervical Cancer. “Death has robbed us of our
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Justine Bagyenda, the Executive Director Supervision-Commercial Banking at Bank of Uganda (BoU) has spoken out on the state of Uganda’s banking sector following the collapse of Crane Bank that has been in the news since late last year. “The banking sector is strong and resilient,” Bagyenda said. She made the
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The Bank of Uganda (BoU) has maintained the Central Bank Rate (CBR), a benchmark lending rate for commercial banks at 10% on account of low inflation levels and a boost in economic activity. Annual headline inflation declined to 5.7% in July 2017, down from 6.4% in June 2017 due to
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