Kampala, Uganda | THE INDEPENDENT | The headline Stanbic Purchasing Managers’ Index (PMI) dipped to 51.2 during February from 53.2 in January as business activity increased in the services and wholesale and retail categories, but decreased in agriculture, construction and industry. However, the Ugandan private sector remained in growth territory at …
Read More »Dfcu Bank to empower more 1,000 SMEs through ADC Business Accelerator Program
Kampala, Uganda | THE INDEPENDENT | Dfcu Bank’s Agribusiness Development Centre and Rabo Foundation have partnered with GOPA Worldwide consultants to implement two consecutive cohorts of the Business Accelerator Program (BAP). The initiative which is in line with the national program of Enhancing the Competitiveness of Small and Medium Enterprises (ECOS) …
Read More »BoU keeps the central bank rate unchanged at 10%
Kampala, Uganda | THE INDEPENDENT | Uganda’s central bank maintained the Central Bank Rate at 10% saying it is still effective to control the rise in inflation, bring stability to the lending and exchange rate, and drive economic growth. Uganda Bureau of Statistics reported at the end of last month that …
Read More »DFCU unveils new 12-week campaign
Kampala, Uganda | THE INDEPENDENT | DFCU Bank has launched a new 12-week campaign to inspire customers to ‘Reach for More’ by taking advantage of its special financial packages to achieve their aspirations/needs conveniently during the new year. Under the campaign, the Bank is providing collateral free loans (unsecured loans) of …
Read More »Tanzanian president appoints new central bank governor
Dar es Salaam, Tanzania | Xinhua | Tanzanian President Samia Suluhu Hassan has appointed a new governor of the east African nation’s central bank, the presidency said in a statement late Saturday. The statement by the Directorate of Presidential Communications said President Hassan has appointed Emmanuel Tutuba as the new governor of …
Read More »KCB Bank gets nod to acquire DRC bank
This becomes the second country to enter the mineral rich-nation Kampala, Uganda | THE INDEPENDENT | Regional lender, KCB Group PLC has received a no objection to acquire Trust Merchant Bank SA (TMB) in the Democratic Republic of Congo. KCB Group obtained the regulatory green light in Kenya, the Democratic Republic …
Read More »Bank of China celebrates 25 years’ service in Zambia
Lusaka, Zambia | THE INDEPENDENT | The Bank of China Zambia Ltd. celebrated its 25 years of banking services in Zambia as a bridge facilitating the ever-growing economic and trade exchanges between the two countries. During the celebration event held on Friday, the bank’s managing director Wang Qi said the bank …
Read More »Absa Bank Uganda on Board for 2022 Uganda Golf Open
Kampala, Uganda | THE INDEPENDENT | Absa Bank Uganda has announced a sponsorship of over Shs200 million towards the Uganda Open Golf Championship 2022. The 5-event Uganda Open will take place at the Lake Victoria Serena Golf Resort and Spa from 01 – 29 October 2022 and is expected to attract …
Read More »Uganda rejects plan to build East African Central Bank in Tanzania
Kampala, Uganda | THE INDEPENDENT | Uganda has rejected a verification report by a select Committee of the East African Community – EAC Council of Ministers proposing the establishment of the East African Central Bank headquarters in Arusha, Tanzania. This was revealed by Rebecca Alitwala Kadaga, the First Deputy Prime …
Read More »Namyalo Mayanja appointed Executive Director KCB Bank Uganda
Kampala, Uganda | THE INDEPENDENT | Agnes Namyalo Mayanja has been appointed Executive Director for KCB Bank Uganda Limited. As the Executive Director, she will deputize and support the Bank’s Managing Director in the overall strategy formulation and implementation of astute leadership and management in line with the Bank’s …
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