Uganda’s women have made remarkable progress across various sectors of the economy since 1962. However, they are yet to make significant inroads in the banking sector especially in top leadership positions. For example, out of the 24 operating banks in Uganda, there is only one woman heading a bank-Annet Nakawunde
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Global ratings agency Moodys has warned of a likely downgrade of credit and deposit scores of three Kenyan banks, citing the country’s deteriorating debt situation. The agency said it had placed on review for downgrade the B1 global scale long-term local-currency deposit ratings and the b1 baseline credit assessment (BCA)
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In commemoration of the International Day of the Girl Child, one lucky girl, 10- year old Stacia Nampijja was given control of Uganda’s leading financial institution, Stanbic Bank as acting Chief Executive for the day. On Thursday, Nampijja chaired a meeting of the banks top decision making body EXCO, met
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Uganda’s lending rates are the highest in the East African Community (EAC) region, the Bank of Uganda (BoU) has revealed. This is stifling credit to the private sector and consequently the growth of the economy. BoU’s Monetary Policy Report for October 2017 also reveals that profitability indicators in Uganda are
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The Bank of Uganda (BoU) has reduced the Central Bank Rate (CBR), a benchmark lending rate for commercial banks, to 9.5% in October, down from 10% in August 2017. This means that commercial banks are expected to follow suit by reducing on their interest rates charged on borrowers. Releasing the
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Ecobank has partnered with Visa to launch Ecobank Scan+Pay with mVisa solutions to their consumers. The strategic tie-up signals interoperability on a cross border level – and potentially huge gains – as it affords consumers with the ability to use their mobile phone to directly access the funds in their
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Bank of Uganda (BoU) Governor Prof. Emmanuel Tumusiime-Mutebile will today release the Monetary Policy Statement for the month of October. According to analysts, BoU is likely to keep the Central Bank Rate (CBR), a benchmark lending rate for commercial banks, unchanged at 10% considering the realities on the ground. “The
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Stanbic Bank Uganda had an outstanding night at the 2017 Digital Impact Awards winning two major accolades. The bank was recognized as the best Mobile banking service provider for its extraordinary mobile banking platform and as the best promoter of financial literacy for the 2017 Stanbic Bank National Schools Championships.
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The Central Bank of Kenya (CBK) remains unclear on when it will roll out the new-look currency as stipulated in law amid mounting legal concerns on the delay. The Daily Nation reports that CBK governor Patrick Njoroge on Tuesday did not explain the delay nor provide time-lines on the expected
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The role of Bank of Uganda’s legal department has come into question after it emerged that the Central Bank has spent about Shs3bn on external lawyers in a period of about two years. The revelation came into light on Tuesday when BoU officials led by Governor Prof. Emmanuel Tumusiime Mutebile
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