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Tag Archives: Banking

New kids in banking

  Industry experts foresee a competitive, innovative and technology driven sector   Kampala, Uganda | JULIUS BUSINGE | Rivalry in Uganda’s banking sector is expected to tighten following the central bank’s decision to grant two entities licenses to start banking business. These are Afriland First Bank Uganda Limited, a Cameroonian …

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Afreximbank holds mid-term review of strategic plan in Kampala

Kampala, Uganda | THE INDEPENDENT | The African Export-Import Bank (Afreximbank) today concludes a three-day retreat in Kampala, Uganda for the mid-term review of its Fifth Strategic Plan dubbed IMPACT 2021: Africa Transformed. Afreximbank operates on five-year strategic plans. The current strategic plan, which is the Bank’s fifth, covers the …

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Mukwano empire founder Amirali Karmali dead

Kampala, Uganda | THE INDEPENDENT |  Amirali Karmali, the proprietor of Mukwano Industries Uganda Limited is dead. The entrepreneur died quietly on Wednesday evening in Fort portal, according to reports.  Karmali, born in the 1930s is the father to Alykhan Karmali, who is currently running the family business empire that spans …

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Calls for Islamic Banking dominates Eid

Kampala, Uganda | THE INDEPENDENT | The call to operationalize Islamic Banking dominated Eid al Fitr prayers at Kibuli Mosque on Tuesday. Islamic banking is a system based on the Islamic economic guidelines in as far as the Sharia law is concerned. Under this system, the banks make profits through …

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Post Bank in turmoil over fraud

Kampala, Uganda | THE INDEPENDENT | Less than a month after the State House Anti-Corruption Unit swooped on Post Bank over embezzlement of funds, seven of its top employees including the bank’s MD Stephen Mukweli are now facing corruption charges at the Anti-Corruption Court. They were charged with abuse of …

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Afrexibank records 25% growth net profit to $275.9million

  Kampala, Uganda | ISAAC KHISA | Pan-African multilateral lender, African Export-Import Bank has released its abridged audited financial statements for the year ended 31 December 2018, showing strong financial and operational performance, with total comprehensive income for the year amounting to $285.4 million. The total comprehensive income reflects a …

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Agriculture tops Uganda’s January loan portfolio

Kampala, Uganda | THE INDEPENDENT | Agriculture might be finally catching financiers’ eye, with money disbursed to farmers topping all other sectors in January, according to official figures. Statistics from the Finance and Economic Development Ministry show that agriculture received 28% (Sh 283bn) of all loans disbursed in January up …

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Equity Bank partners with GOAL Uganda to empower youth

Kampala, Uganda | THE INDEPENDENT | Equity Bank (U) Ltd and the DYNAMIC (Driving Youth-led Agribusiness and Microenterprise) program in  their continued quest for financial inclusion have launched a partnership to bring access to formal financial services closer to the youth through Equity Bank’s agency banking and digital finance model. …

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