The Bank of Uganda (BoU) has seconded an interim team of officials to operationalise the Deposit Protection Fund (DPF) that will see bank customers earn Shs3m in case the bank is closed. DPF is a newly established institution following the enactment of the Financial Institutions (Amendment) Act (FIA) 2016. The
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dfcu Bank, in partnership with Enterprise Uganda, on Tuesday announced that it will hold 12 business clinics for its Small and Medium Enterprise (SME) customers. The announcement was made during a press briefing which also doubled as the first training session at Mackinnon Suites. The clinics will be held over
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In preparation for the formal launch of Agency Banking services in Uganda, Stanbic Bank in collaboration with the Uganda Law Society have hosted an Agency Banking conference to discuss the potential implications of this new financial channel to the legal fraternity, financial stakeholders and potential agents. The event took place
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Uganda’s commercial banks are increasingly turning away borrowers, a latest report from the Bank of Uganda (BoU) reveals. According to BoU’s Monetary Policy Report for June 2017, growth in Private Sector Credit (PSC) remains subdued, despite the easing of the Central Bank Rate (CBR), a benchmark lending rate for commercial
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Equity Bank Uganda has unveiled the EazzyClub App, a web based solution the bank has put in place for Investment Clubs and other Savings and credit Cooperative Societies (SACCO). The App manages SACCO and investment group contributions and activities instantly and transparently, saving both time and money. [caption id="attachment_2121" align="alignnone"
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Small and Medium Enterprises (SMEs) will blossom once agency banking takes root in Uganda, Equity Bank Uganda Executive Director, Anthony Kituuka has said. He revealed this while addressing members of over 40 Investment Clubs at a Cocktail event held on Thursday at the Protea Hotel, Kampala. The event was aimed
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Barclays Bank has become the latest lender to sack its employees in an exercise targeting about 130 employees. In a statement to The Standard, the lender confirmed it was rolling out a Voluntary Exit Scheme that is open to all permanent employees. “This exercise will take place over a period
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The Capital Markets Authority (CMA) says it is not aware that KCB Group #ticker:KCB has made a bid to acquire a 70 per cent stake in the National Bank of Kenya (NBK), #ticker:NBK urging investors to exercise caution when trading in the lenders’ shares. The regulator, in a cautionary statement
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By Patrick Mweheire, Chief Executive Officer, Stanbic Bank Uganda The 2017/18 National Budget delivered on the 8th June 2017, might have left many Ugandans apprehensive about the state of the economyand curious about some of policy levers the Government is using to uplift the real economy and get the country growing again.
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The Bank of Uganda (BoU) on Monday reduced its Central Bank Rate (CBR), a benchmark lending rate for commercial banks to 10% for the Month of June, down from 11% in April, 2017. Announcing the move at BoU headquarters in Kampala, BoU Governor, Prof. Emmanuel Tumusiime Mutebile attributed the reduction
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