Property mogul Sudhir Ruparelia, the proprietor of Crane Bank ( under receivership) wants Bank of Uganda (BoU) lawyers, MMAKS Advocates and AF Mpanga out of the case in which the Central Bank sued him for allegedly causing financial loses to the Bank (Crane Bank) on grounds that they have conflict
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Credit from commercial banks to the private sector plays a big role in the development of a country. However, despite Uganda having 24 banks, credit to the private sector generally remains low, a thing that affected Uganda’s economic development. Financial inclusion (manifested in the number of Ugandans who operate an
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By Peter Abaanabasazi Bank of Uganda in partnership with Profam For Financial Inclusion in Rural Areas (PROFiRA) has trained over 172 trainers in financial literacy to promote financial inclusion in the country. PROFiRA is a project under Ministry of Finance, Planning and Economic Development. The trainees who included Community Development
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East African Central Bank Governors say they are committed to continue working together to achieve regional monetary union. This is contained in the their communiqué issued on August25, 2017 after the 21st Ordinary Meeting of East African Community (EAC), Monetary Affairs Committee (MAC) that was convened at Serena Hotel, Kampala
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In response to Uganda’s nationwide blood shortage, Diamond Trust Bank (U) in partnership with Uganda Blood Transfusion Services (UBTS) organized a blood donation campaign which started on Thursday 24th and will end today - 26th August 2017 at DTBU Main Branch Premises. Hundreds of people turned up to participate in a
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In a bid to ease access to finance among Small and Medium Enterprises (SMEs) in Uganda, KCB Bank Uganda in partnership with the European Investment bank has embarked on carrying out financial trainings among local SMEs across the country. The trainings are aimed at helping SMEs understand key aspects of
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By Lydia Kayonde, One of the most significant changes in financial services over the past few decades has been the growth and adoption of Bancassurance. Whileit may sound like a complex word, it isa simple term coined by combining two words, bank and insurance. The sale and distribution of insurance
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Profits recorded for Ugandan banks in 2017 are set to drop as effects of the hard economic times begin to manifest. In 2016, banks registered huge profits, having concentrated their efforts on recovering Non-Performing Loans (NPLs) while remaining cautious towards lending. Consequently, total industry profit increased to Shs676.73bn in 2016,
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dfcu Bank has made a contribution of Shs75 million towards the refurbishment of a three-classroom block at Nakivubo Blue Primary School. This is part of the bank’s Corporate Social Responsibility Program. The school is currently managed by the Kampala Capital City Authority (KCCA) and has over 1,000 students from the
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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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