PostBank Uganda, a financial institution that is committed to transforming the lives and livelihoods of Ugandans, has been appointed to disburse the government COVID-19 relief funds to the select Ugandans impacted by the pandemic and the ongoing lockdown. As opposed to distributing food as was in the first lockdown, the
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Equity Bank Rwanda was hacked in 2019 Eight Kenyans arrested in Rwanda for hacking Equity Bank have been handed eight-year jail terms and fined Sh5.6 million. The eight are part of a 12-man gang arrested in 2019 by the Rwandan Investigation Bureau (RIB) that included three Rwandese nationals and a Ugandan. Regional
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Absa Bank Uganda Managing Director, Mr. Mumba Kalifungwa Absa Bank Uganda and MTN Mobile Money Uganda Limited have today announced the introduction of mobile money payment functionality, also known as MTN MoMoPay on Absa Point of Sale (POS) machines/terminals. The service is open to all MTN Uganda mobile money account holders,
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Banks pass on the tax charge to customers, increasing the burden on borrowers already grappling with adverse effects of the coronavirus-induced hardships. ILLUSTRATION | SHUTTERSTOCK NCBA and KCB have become the first lenders to increase the cost of their loans after a 20 percent excise duty tax on fees and
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Emma Mugisha, Stanbic Bank Executive Director Stanbic Bank Uganda has announced a new value proposition aimed at revitalizing the operations for Savings and Credit Cooperative Organizations (SACCOs) and Village Savings and Loans Associations (VSLAs) across Uganda. Emma Mugisha, Stanbic Bank Executive Director, said the move will help make SACCOs and
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BankingEntrepreneurship
Stanbic Bank Announces Regional Finalists for National Schools Championship Programme
One of the winners receive seed capital to further inject in their business. Stanbic Bank Uganda has announced finalists for the National Schools’ Championship (NSC) programme and given out seed capital to all semi-finalists amounting to UGx12.5million. The finalists were picked from four regions of Uganda namely, Central, Northern, Western
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BOU Governor Mutebile wants banks to reduce cost of loans further The Bank of Uganda has given a mixed view of the economic performance in the short term, with a high likelihood of either a slowdown in economic growth or a decline in activities generally. This is largely due to
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BoU Governor Prof. Emmanuel Tumusiime-Mutebile The Bank Lending Survey results for March 2021 shows that, overall, banks expected lending rates to remain unchanged, the Bank of Uganda (BoU) has said in its latest Monetary Policy Report. Although the Central Bank Rate (CBR), a benchmark lending rate for commercial banks has
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BoU Governor, Prof. Emmanuel Tumusiime-Mutebile The Bank of Uganda (BoU) has reduced the Central Bank Rate (CBR) by 0.5% to 6.5%. CBR is a benchmark lending rate for commercial banks. BoU Monetary Policy Committee noted that economic developments have been broadly in line with the outlook in the April Monetary
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Stanbic Bank Appoints Cathy Adengo As Head of Sustainability, Unveils New Communications Manager
Stanbic Bank Uganda has appointed Cathy Adengo (pictured) as Head of Sustainability. Cathy’s appointment follows the Board of Director’s approval to establish a Sustainability function mandated to deliver on the Bank’s Social, Economic and Environmental objectives as part of the key strategic value drivers for the business. In her new
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