United Bank for Africa Plc (UBA) today announced a donation of over USD 14 million, through the UBA Foundation, to catalyse a comprehensive Pan-African response to the fight against the coronavirus (COVID-19) global pandemic. The donation will provide significant and much needed support to Nigeria and 19 other African countries,
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The Bank of Uganda (BoU) has ordered commercial banks to defer dividends and bonuses in light of the COVID-19 impact on the economy, Business Focus has exclusively learnt. This is aimed at keeping financial institutions liquid and the economy afloat during this difficult period. This means that shareholders are likely
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Stanbic Bank posted an impressive Shs259bn Profit After Tax in 2019, up from Shs215bn recorded in 2018. This represents an increment of 20%. Patrick Mweheire (pictured), who was the Chief Executive for both Stanbic Uganda Holdings and Stanbic Bank Uganda (SBU) for 2019, also saw loans advanced to customers increase
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The Kampala Central MP, Muhammad Nsereko has called for relaxation on payment of loans, rent and utilities to Ugandan business community cope with effects of the deadly COVID-19 aka Coronavirus. Nsereko (pictured) made the call today while addressing journalists at Parliament where he urged the public to take the global
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Dr. Georges Agyekum Nana Donkor (pifctured) has been appointed as a Non-Executive Director to replace Mr. Bashir Mamman Ifo as the representative of Ecowas Bank for Investment & Development (EBID) on the Board of ETI. Dr. Donkor was recently appointed President of EBID following the retirement of his predecessor Mr.
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Absa Group Limited has today announced the appointment of Mr Mumba Kalifungwa (pictured) as Managing Director for Absa Bank Uganda effective 1 April 2020. He succeeds Mr Nazim Mahmood, who has held the position on an interim basis since July 2019, leading the organisation through a historic brand transition to
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Former BoU Executive Director-Supervision, Justine Bagyenda and the then Director Financial Markets at BoU, Bernard Ssekabira (R) appearing before the COSASE probe. A report by the US state department has noted with disappointment that more than a year after the parliamentary committee on Commissions, Statutory Authorities, and State Enterprises (COSASE)
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Four years since Bancassurance was first introduced in Uganda, experts say the concept is gaining ground and soon every bank customer will also have a life insurance cover attached to their account. Bancassurance is the selling and distribution of insurance products through banks. Commercial Banks are adopting it because selling
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The speaker of parliament Rebecca Kadaga has asked Government to quicken the process of operationalizing Islamic banking in Uganda so that all Ugandans can access credit. She said this during the annual general meeting of the Muslim journalists SACCO at parliament. Kadaga revealed that a number of Muslim women would
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Members of Parliament on the Finance Committee are seeking for ‘special’ treatment from telecom companies on the amount of mobile money transactions, saying they are some of the biggest customers in the sector. The call was made by Henry Musasizi, Chairperson Finance Committee while interfacing with Telecom operators from MTN,
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