Women MPs inspecting a flower farm owned by the UWEP-funded Rwentobo Women group in Mbarara Uganda Development Bank (UDB) has offered to help 2 million women in business access financing at more affordable cost than those offered under the currently available products. This is aimed at responding to the complaints that available
Read More
Sam Mwogeza, Head Consumer and High Net worth at Stanbic Bank Stanbic Bank Uganda has today announced exciting offers on unsecured personal loans effectively activating the festive mood among customers, with Christmas just seven weeks away. The promotional offer runs until end of the year. With interest rates on offers starting from as low as 16% (subject to terms and conditions), customers are being given long repayment-periods of up to 72 months for unsecured advances to salary earners, 10 years for land financing and up to twenty years for home purchase. “After a tough year
Read More
Absa Group today announced the appointment of Saviour Chibiya (pictured) as Group Executive: Absa Regional Operations (ARO). Saviour will be responsible, together with RBB and CIB for the Group’s ARO businesses and for the Group’s strategy, collaboration and relationships with its key stakeholders across those businesses. Saviour will be a member of
Read More
A photo montage of the new Absa Bank Uganda Board members Absa Bank Uganda has announced four new appointments to the Bank’s Board of Directors. The new appointees are Non-Executive Directors Alex Rugamba, Sophie Nkuutu, and Phillip Aliker as well as Executive Director David Wandera, who collectively bring together over
Read More
The banks’ weighted average lending rate has maintained a downward trajectory since February 2021 in line with the reduction in Central Bank Rate (CBR), Bank of Uganda (BoU) has revealed in its State of the Economy Report dated September 2021. “The average lending rate on shillings loans stands at 16.3 percent in
Read More
Grace Muliisa, Managing Director Ecobank Uganda Ecobank Uganda, a member of the leading pan-African banking group, the Ecobank Group, is celebrating the ninth annual Ecobank Day, its flagship corporate and social responsibility annual event that ‘gives back’ to the local communities across Africa. This year Ecobank Day will be held
Read More
A photo montage of some bank CEOs The outbreak of the Covid-19 pandemic and its disastrous effects on global economy hasn’t stopped commercial banks in Uganda from registering growth, with Bank of Uganda revealing that assets for commercial banks grew to almost Shs40Trn. The details are contained in the Annual
Read More
The Ministry of Finance has revealed that financial institutions extended loans to a tune of Shs821bn in August 2021, with borrowers seeking personal loans applying for the biggest chunk of loans. The Ministry’s revelation is contained in the Performance of Economy Report for September 2021. “The value of loans approved for disbursement
Read More
Mobile money transactions hit a record Shs113.38Trn in Financial Year 2020/21, the Bank of Uganda 2021 Annual report has revealed. The Central Bank Governor Prof. Emmanuel Tumusiime-Mutebile says that in accordance with the provisions of the National Payment Systems Act 2020, each of the companies received a Payment Systems Operator (large funds transfer)
Read More
The Executive Director of Uganda Bankers’ Association (UBA), Wilbrod Humphreys Owor says that the total direct school loan portfolio is currently 1.3 trillion Shillings and this includes institutional and personal loans and the accumulated interest. He adds that their records also indicate another 600 billion debt under private sector institutions
Read More
