Uganda's Central Bank has agreed to refund the money moneybags, Sudhir Ruparelia deposited in forex bureaus. Sudhir had accused the Central Bank of holding onto the money in question in a bid to coerce him into negotiating a case where he is accused of purportedly causing the collapse of Crane
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Another dfcu bank boss has resigned leading to more speculation about the bank's stability. Dr. Winifred Tarinyeba Kiryabwire, who has been a director on the board of Dfcu bank has left her post. Reports indicate that Winifred resigned due to commitments she is due to undertake in another entity. She
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The Bank of Uganda (BoU) Governor, Prof. Emmanuel Tumusiime-Mutebile has expressed concern over the high interest rates charged by commercial banks even when the Central Bank Rate (CBR), a benchmark lending rate for the banks has been below 10% for a long time. Currently, the average lending rate charged by
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dfcu Bank has today joined Uganda Red Cross Society in partnership with the Ministry of Education and Sports to launch a campaign dubbed ‘Keep a Girl in school’ that will enable thousands of school going girls gain access to knowledge and support in ‘Menstrual Hygiene Management’. This was unveiled at
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A prominent businessman in Kabale town has won a suit against Centenary Rural Development Bank-CERUDEB for impounding his property, URN reports. In May 2018, Moses Sunday obtained a loan of Shillings 25 million to increase stock in his business. He staked his Canter vehicle registration number UAY 115A and house
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Stanbic Bank has released its full year financial results for 2018 indicating strong and solid performance. The bank recorded Shs215bn net profit in 2018, up from Shs200bn in 2017. This represents a growth of 7.3%. Announcing the results at Serena Hotel, Kampala on Thursday morning, Patrick Mweheire (in featured photo),
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dfcu bank recorded Shs61.7bn net profit in 2018, down from Shs127.6bn profit posted in 2017, Business Focus reports. According to the bank’s financial statements for the year ended December 2018 obtained by this Business website, the reduction in profit is largely attributed to slowed growth in some of the key
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The Tony Elumelu Foundation (TEF), the leading African philanthropy committed to empowering African entrepreneurs, Friday announced 3,050 African entrepreneurs, drawn from all 54 African countries, selected to join the 5th cycle of its $100million TEF Entrepreneurship Programme. The announcement was made at the Transcorp Hilton Abuja, following a presentation of
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Nedbank’s headline earnings in the year to end-December rose 14.5% to R13.5bn thanks to the turnaround of its Togo-based associate company, Ecobank Transnational Incorporated (ETI), Business Day reports. “In 2018, Nedbank Group seamlessly concluded the process of managed separation from Old Mutual and delivered a resilient financial performance, boosted by
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Ecobank Uganda has appointed media entrepreneur, Kin Kariisa (in featured photo) as its new Chairman of board of directors. Kariisa is the CEO of Next Media Services that owns NBS TV. He replaces Henry Lubwama, who has been the bank’s Chairman Board of directors for the last six years The
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