Standard Chartered Bank Kenya Ltd (SCBKL) has issued a profit warning for the full year ending December 2017, citing the effects a cap on interest rates imposed a year ago and unpaid loans in a sluggish economy, reports Business Daily. “SCBKL projects that net earnings for the year ending December
Read More
Bank of Uganda (BoU) and the Central Bank of Sudan have agreed to explore all avenues to consolidate and expand trade and investment between Uganda and Sudan. This was during a meeting between Bank of Uganda Deputy Governor, Dr. Louis Kasekende, and the Governor of the Central Bank of Sudan,
Read More
Stanbic Bank won an unprecedented five accolades including the overall Gold award at the 2017 Financial Reporting awards held at the Serena Hotel in Kampala. Held under the theme, ‘Moving beyond numbers: Unlocking the value through reporting’ different institutions were awarded in 13 categories, with Stanbic Bank winning the Annual
Read More
There was a battle of brands during the official handover of the Jinja Storage Terminal by the energy ministry to the Uganda National Oil Company (UNOC) last week. The Storage Terminal managed by a private firm, One Petroleum operates under UNOC and received funding from Equity Bank Uganda to refurbish
Read More
Kenya Commercial Bank’s (KCB’s) regional subsidiaries have registered profit on the back of relative currency stability, helping the lender absorb the impact of the interest rate cap back at home, reports the Standard. The six subsidiaries, including Uganda and Tanzania, collectively contributed Sh586 million in the January-September period, up from
Read More
Bank of Uganda (BoU) lawyers; AF Mpanga and MAAKS Advocates have leaked the client list of former Crane Bank account holders. The list was submitted to the Commercial Court as evidence in the Crane bank saga and ongoing court battle between Bank of Uganda (Crane Bank under receivership) and Sudhir
Read More
dfcu Bank has this morning signed a two-year sponsorship deal with Entebbe based football club, Vipers Sports Club. The sponsorship is valued at a total of Shs300m. Speaking at the sponsorship signing, dfcu Bank’s Chief of Business and Executive Director, William Sekabembe, said; “dfcu Bank understands the importance and impact
Read More
By Jackson Emanzi Uganda’s population is projected to grow from 37 million today to 41.2 million by 2020 (UBOS) and yet the country currently has a housing deficit that stands at close to 1.2 million units, with Kampala at a staggering deficit of over 200,000 units. To compound this concern,
Read More
The assistant Executive Director of Alliance for Financial Inclusion, Norbert Mumba has stressed the need to embrace digital financial services to be pushed to all adult Ugandans, explaining that it will further help to reduce the number of adult people that are still unbanked in Uganda. Mumba stated this during
Read More
KCB Group, Kenya’s largest bank by assets, has secured a $100 million (about Shs364.9 billion) loan from the African Development Bank (AfDB) for onward lending to Small and Medium Sized Enterprises (SMEs) in the region. The AfDB board approved the long term funding on Wednesday. “The funding is aimed at
Read More
