Mumba Kalifungwa, Absa Uganda’s Managing Director and Michael Segwaya, the bank’s Chief Finance Officer and Executive Director during the release of the bank’s 2020 financial results. Absa Bank Uganda’s total assets increased by 3.5% to Shs3.54 trillion, up from Shs3.42 trillion recorded in 2019, according to the bank’s financial statements
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Banks are charging higher interest rates to agriculture sector/Courtesy photo The Bank of Uganda’s Monetary Policy Report for April 2021 has shown that after a sharp decline in lending rates in December 2020 and January 2021 on account of significant loan extensions to some prime customers in the telecoms sub-sector, lending rates
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Orient Bank head offices in Kampala I&M Holdings PLC has announced the majority acquisition of Orient Bank Limited (OBL) from 8 miles LLP and Morka Holdings Limited. OBL is the 12th largest bank and a licensed and established commercial bank in Uganda. I&M Holdings PLC and Orient Bank Limited signed
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Panelists who spoke during dfcu Bank’s engagement meeting with customers for financial opportunities in the Oil and Gas sector in a group photo dfcu Bank has held an engagement for its customers and key stakeholders in the oil and gas sector to share insights into the opportunities in the US$15 billion Oil
Read MoreThere was an increase in lending rates charged on both the Shillings and foreign currency denominated credit in February 2021 compared to the previous month, the March Ministry of Finance Report on the performance of the economy has revealed. Although lending rates by commercial banks remain high, in March 2021,
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Mumba Kalifungwa, Absa Uganda's Managing Director and Michael Segwaya, the bank's Chief Finance Officer and Executive Director during the release of the bank's 2020 financial results. Absa Bank Uganda has released financial results for the year ending December 2020 reporting profits after tax of UGX 41 billion and growth in
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Uganda Development Bank (UDB) violated the set guidelines of lending the covid-19 stimulus package funds to Ugandans to boost their businesses that were hit by the COVID19 lockdown. This came about as MPs on Parliament’s Finance Committee interfaced with UDB officials led Executive Director, Patricia Ojangole. Parliament in August last year
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Donald Rukare, President of the UOC, Helen Basuuta Nangonzi, Absa Bank Uganda's Director of Marketing and Customer Experience and Beatrice Ayikoru, Secretary General of the UOC. Absa Bank Uganda has sponsored the team that will represent Uganda at the 2021 Tokyo Summer Olympics to the tune of UGX 54.5m. The
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BoU Governor Prof.Emmanuel Tumusiime-Mutebile Bank of Uganda’s Monetary Policy Committee (MPC) held on 14th April 2021 maintained the Central Bank Rate (CBR), a benchmark lending rate for commercial banks at 7%. BoU Governor Prof.Emmanuel Tumusiime-Mutebile said the “the economic recovery is proceeding and is stronger than expected at its last meeting
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Dr. James Mwangi, Managing Director and CEO of Equity Group Holdings Equity Group Holdings (EGH) has signed a USD $100 million loan (UShs365bn) facility to support its expansion across Eastern and Central Africa, enhancing its ability to serve small and medium enterprises (SMEs as it grows. In addition to operating
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