Karlsruhe, Germany | THE INDEPENDENT | The Managing Director Uganda Development Bank Limited (UDBL) Patricia Ojangole, has been named Sustainability Leader of the Year 2021 during the Karlsruhe Sustainable Awards ceremony held annually in Germany. Awarded by the International Council of Sustainability Standards for Value Driven Financial Institutions during …
Read More »UDB launches thematic campaign to capture Ugandan spirit of growth, innovation
Major UDBL media campaign on TV, Radio and online invites Ugandans to connect with national spirit with messages of hope and change Kampala, Uganda | THE INDEPENDENT | The Uganda Development Bank Limited (UDBL), the country’s national Development Finance Institution, has unveiled a thematic campaign aimed at drawing attention to …
Read More »National Payment Systems Act: will new regulations deliver growth in fintech sector?
BUSINESS FEATURE | THE INDEPENDENT | It’s been thirteen years since the Ugandan payments landscape was disrupted by the First mobile money system. In 2009, MTN Uganda introduced the first mobile money transaction service and today, the sector has grown to more than 170 private players consisting of mobile …
Read More »Absence of banking services frustrates cross-border trade in Elegu
Amuru, Uganda | THE INDEPENDENT | The absence of banking services continues to frustrate the growth of businesses in Elegu township, the main point of entry to South Sudan through Amuru district. The town council has a population of 17,000 people with more than 500 of them engaged in cross-border trade. …
Read More »Jim Muhwezi is Ugandan named in Pandora Papers
London, UK | THE INDEPENDENT | The Minister of Security Maj. Gen Jim Muhwezi is the Ugandan minister cited in the Pandora Papers as having secret offshore properties. On Monday, the International Consortium of Investigative Journalists-ICIJ released the now-famous Pandora Papers where it reviewed more than 11 million documents …
Read More »Absa Bank Uganda boss calls for purpose-driven innovations to enhance equitable service delivery
Kampala, Uganda | THE INDEPENDENT | The Managing Director of Absa Bank Uganda, Mumba Kalifungwa has called for creativity of purpose driven innovations to enhance equitable service delivery for sustainable growth in the banking sector. Mumba said this at the recently held 12th Edition of the Annual CEO Forum 2021, held …
Read More »FlyHub picks Muhumuza as first CEO
Kampala, Uganda | THE INDEPENDENT | FlyHub Uganda Limited, a subsidiary of Stanbic Bank Uganda Holdings Limited (SBUL) has announced the appointment of Joel Muhumuza as its first Chief Executive Officer. FlyHub is a newly created FinTech company and one of four subsidiaries under SBUL, the others being, SBG Securities, …
Read More »BOU withdraws appeal against Sudhir
BOU Governor Tumusiime Mutebile (left) and former Cranes Bank boss Sudhir Ruparelia (right). Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has withdrawn an appeal in their case – Crane Bank (In Receivership) against Sudhir Ruparelia and Meera Investments Limited. “Take notice that the appellant does not intend …
Read More »Financial sector, BoU agree on fair play to develop technology
Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda will keep reviewing the operating conditions of the financial technology companies-Fintech, which have termed the recently introduced regulations for the sector as unfavourable. Fintech is the technology and innovation that aims to compete with traditional financial methods in the delivery of …
Read More »$163 MILLION: Equity hits 99% in half year profits
Growth in profit after tax of 98% ($163.5 million) Total Assets growth of 50% Growth in Deposits of 51% ($7.4 billion) Growth in Net Loans of 29% ($4.6billion) Nairobi, Kenya | THE INDEPENDENT | Equity Group Holdings Plc has announced a 98% growth in half year profits to $163.5 million (Kshs.17.9 …
Read More »