To mark the 10th anniversary of ground-breaking mobile money service-M-PESA, WorldRemit has released new data showing that Kenyans in diaspora are the biggest senders of digital remittances to mobile accounts. Transfers to mobile money accounts make up 93% of WorldRemit transactions to Kenya now - showing that Kenyans continue to
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Diamond Trust Bank (DTB) Uganda has significantly written off loans worth Shs34.4bn in 2016, up from Shs5.9bn in 2015, Business Focus reveals. This is contained in the bank’s financial results for the year ended 2016 released last week. As a result of the high Non-Performing Loans (NPLs)affecting the banking industry
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Uganda Revenue Authority (URA) has admitted that London law firm that Uganda government paid Shs2.5bn in the oil case didn’t provide a legal opinion, raising fears that the lawyers may not have carried out the assignment. This shocking revelation was made by Doris Akol, the URA Commissioner General while appearing
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Uganda's military Spokesperson has trashed media reports claiming that a senior army officer was recently arrsted in connection to the murder of former Police spokesperson, Andrew Felix Kaweesi. Brigadier Richard Karemire revealed this in a tweet he made on Monday morning saying some people have been masquarading as army officers.
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KCB Group has posted UShs1.01trn in Pre-Tax profit for year ending December 31, 2016, up from UShs923.7bn recorded in 2015, representing 10% growth. KCB Group CEO and MD, Joshua Oigara, attributed the improved performance to the bank’s continued and deliberate focus on growth, efficiency, and value creation for shareholders. The
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Private Education Development Network (PEDN) in partnership with Feed the Future Uganda Youth Leadership for Agriculture (FFUYL), a USAID – funded project have launched a campaign to raise awareness on the importance of girls’ education and the value of women empowerment. This is not only an awareness campaign, but will
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The Uganda Shilling held steady against the US dollar during the week ending 24th March 2017 as demand and supply remained balanced. The absence of strong corporate demand over the past few weeks provided an opportunity for Bank of Uganda (BoU) to purchase dollars for their reserve build up. Trading
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By Peter Abaanabasazi A bitter row involving Hoima District Local Government, Bunyoro Kitara Kingdom and the Church of Uganda has erupted over Shs7bn compensation to persons and institutions affected by the Kigumba–Masindi–Hoima–Kabwoya Road Project. The road in question is one of the many oil roads being upgraded and tarmacked ahead
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dfcu Bank has recorded Shs46.2bn net profit in 2016, up from Shs37bn in 2015, representing a growth of 25%. According to dfcu’s financial statements released on Tuesday, loans advanced to customers increased slightly to Shs842.4bn in 2016, up from Shs806.4bn in 2015. This slow growth in lending could be attributed
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The Tony Elumelu Foundation (TEF) has announced 1,000 African upcoming entrepreneurs who are set to receive seed capital worth US$10,000 (about Shs35m) each. These entrepreneurs are the 3rd cohort of the 10-year, $100 million TEF Entrepreneurship Programme. In a March 22, 2017 statement sent to Business Focus, 74 Ugandan entrepreneurs
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