The Bank of Uganda (BoU) revoked the banking license of Global Trust Bank Limited on 25th July 2014 under the provisions of the Financial Institutions Act, 2004 and immediately placed it under statutory liquidation. The Central Bank now says the liquidation process has been concluded successfully. “Bank of Uganda hereby
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Patrick has now been appointed as the new Regional Chief Executive, Standard Bank Group effective 1st March 2020. Stanbic Bank Uganda on Tuesday announced Anne Juuko as the bank’s new Chief Executive Officer, replacing Patrick Mweheire, who has been at the helm of the country’s biggest commercial bank since 2015.
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The United Bank for Africa (UBA) Group’s Regional Chief Executive for the Central, Eastern, and South African (CESA) region recently visited Uganda. While on his visit to Uganda, Martin Che, paid a visit to the Prime Minister’s office to discuss the possibility of a new partnership between the bank and
Read MoreEcobank Group, the pan-African banking group, is inviting African fintech entrepreneurs to enter the 3rd edition of the Ecobank Fintech Challenge. The Fintech Challenge gives African start-ups the opportunity to promote their fintech solutions, and potentially partner with Ecobank to roll-out their solutions across Ecobank’s 33 markets in Africa as
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Uganda’s Central Bank, the Bank of Uganda (BoU) headed by Prof. Emmanuel Tumusiime-Mutebile (pictured) as Governor has reported up to Shs2 trillion in losses for the past 15 years, Finance State Minister (Planning), David Bahati has said. In a response to a Question for Oral Answer posed by MP Kenneth
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The leading pan-African bank, Ecobank, has signed a cross-border remittance agreement with Alipay, the world’s leading payment and lifestyle platform, that aims to bring more inclusive financial services by providing a fast, safe, affordable and convenient way for workers to transfer money back home. The partnership will facilitate instant transfers
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Absa Group Limited’s Barclays-branded subsidiaries in seven African countries - Botswana, Ghana, Kenya, Mauritius, Seychelles, Tanzania and Zambia - were renamed as ‘Absa’ today, completing the name change across the continent. Absa Group’s subsidiaries in Uganda and Mozambique were renamed in November. The renaming of the remaining subsidiaries today marks
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Uganda’s debt will soon hit the Shs50 trillion mark going by the rate at which the country is borrowing. The latest is that Parliament has passed a motion for the adoption of the report of the Committee on National Economy to borrow up to Euro600M (about Shs2.4Trn) from both Stanbic
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Telecommunication companies and Mobile Money agents are increasingly witnessing a reduction in Mobile Money transactions as high value customers opt for agency banking. This has been revealed by Uganda Revenue Authority (URA) Commissioner General, Doris Akol, who says this development has also affected revenue collection. “Levy on mobile money contributed
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The United States Agency for International Development (USAID) through the Prosper Africa initiative is partnering with the United Bank for Africa (UBA) to increase two-way trade and investment between the United States and the nations of Africa. This partnership ensures businesses are equipped with the technical and financial tools
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