Court clears bank, faults customer for fraudulent transactions on her account Kampala, Uganda | URN | The High Court has absolved Barclays Bank Uganda (now Absa Bank) of liability for the loss of Shs 8.538 million withdrawn from a customer’s account without her authorisation, faulting the account holder for negligence. …
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Namanve, Uganda | THE INDEPENDENT | Equity Bank Uganda recently successfully completed the migration of its core data centre operations to the Raxio Data Centre in Namanve Industrial Park, marking a significant milestone in the bank’s digital transformation journey. The migration represents a full relocation of the bank’s core digital infrastructure, …
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Kampala, Uganda | THE INDEPENDENT | Mobile Money platform operators are demanding for government intervention in the industry’s challenges to ensure that the services are affordable, both to the customers and the companies. Mobile money services are considered more expensive than in other markets in the regions particularly Kenya and …
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RIO DE JANEIRO | Xinhua | Colombia and Uzbekistan have joined the New Development Bank (NDB), expanding the membership of the multilateral lender commonly known as the BRICS Bank, the institution’s president, Dilma Rousseff, announced here Saturday. The announcement came at a press conference held after the 10th meeting of the …
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NCBA’s 2024 financial results demonstrated robust and consistent growth across key indicators. Net loans and advances increased by 18%, rising from Shs253 billion to Shs298 billion, while customer deposits grew by 15% to Shs654 billion. Profit before tax surged by an impressive 40%, climbing from Shs 32 billion …
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Kampala, Uganda | THE INDEPENDENT | The Uganda Police Force has issued a warning about a new modus operandi being used by criminals posing as bank customers to identify and track individuals withdrawing substantial amounts of cash. There has been a rise in robberies targeting bank clients who have withdrawn large …
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Kampala, Uganda | THE INDEPENDENT | The Uganda shilling seemed to be halting the downward trend against the dollar at the close of the week, at 3,695.05 buying and 3705.05 selling, on Friday, according to the Central Bank. The shilling has been depreciating since December 19, 2024, when the dollar was …
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Kampala, Uganda | THE INDEPENDENT | Standard Chartered Bank Uganda and Prudential Uganda have concluded a strategic partnership aimed at deepening access to financial services and providing long-term financial security solutions to customers. This collaboration marks a significant milestone in both organizations’ commitment to enhancing financial inclusion and delivering …
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Kampala, Uganda | Michael Jjingo | In the recent past, several Ugandan commercial banks are slowing down the opening of new branches. More than 75% of retail banking transactions are now digital. The bank branch growth is indeed “going south.” Brett King wrote, “And there’s no reason to assume we’ll see …
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Kampala, Uganda | THE INDEPENDENT | Uganda’s industrialists, supported by financial institutions, have decided to lead efforts towards the establishment of an industrial bank. The proposed Uganda National Industrial Bank would serve to reduce the cost of Finance that the private sector persistently fronts as the major challenge to its …
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The Independent Uganda: You get the Truth we Pay the Price
