Tag Archives: Banking

Kampala, Uganda | THE INDEPENDENT | dfcu Bank has launched its new digital account, “Digito ku Spot’, which supports self-onboarding allowing customers to have an elevated account opening experience. This innovative account is specifically designed to provide customers with quick and easy access to financial services, with the added convenience of …

Kampala, Uganda | THE INDEPENDENT | PostBank has announced its financial results with a 19% increase in net profit for the year ended December 31st, 2022. The state-owned bank reported a net profit of UGX. 15.1 billion, a solid year-over-year growth of 19.3% up from the UGX. 12.2 billion net profit …

Monetary authorities could introduce a digital currency to make the payments system more fluid COMMENT | Jan Eeckhout | Last year, the Nobel Prize in Economics went to two economists who study the dynamics of bank runs, as well as to former U.S. Federal Reserve Chair Ben Bernanke for his work analyzing …

Nairobi, Kenya | THE INDEPENDENT |  Equity Group, East and Central Africa’s largest financial institution, has enhanced  its position as one of the strongest banking brands globally by scoring highly, in the 2023 Brand Finance’s Brand Strength and Brand Value rankings. In its second consecutive appearance in the Brand Finance …

Kampala, Uganda | THE INDEPENDENT | Stanbic Bank has continued to dominate the insurance sector with a market share of 19.38% in 2022, generating total Gross Written Premiums of Shs27.6 billion out of the industry figure of Shs143bn. At one percent, insurance penetration in Uganda remains low, but products like …

COMMENT | PIUS WAMALA | Every 21st of March, Uganda joins the rest of the world to commemorate the International Day of Forests. Proclaimed by the United Nations General Assembly in 2012, this day is meant to celebrate and create awareness about the importance of all types of trees and …

Angola becomes the 35th African member to join a global group that addresses offshore tax evasion, demonstrating the growing resolve of African governments to fight tax evasion and illicit outflows – including of natural resources and wildlife Luanda, Angola | BIRD AGENCY | Angola is on a mission to be …

BOU clarifies that currency notes bearing Dep Governor’s signature are genuine Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has clarified on the Deputy Governor’s signature on currency notes, allaying fears that the notes could be fake. Since last month, pictures of currency notes bearing the signature of Dr …

New York, US | THE INDEPENDENT |  The collapse of Silicon Valley Bank (SVB) has not only revealed billions of dollars in loss but also rattled the technology industry, which had been leading innovation in the past years but yet was disturbed by layoffs and bankruptcies for months. Small businesses …

COMMENT | MOSES KAKETO |  Imagine waking up one day to find MTN Uganda operating electric purses, issuing debit cards and prepaid cards, taking fixed deposits, and investing some of the money they get in bonds and securities. Industry experts apparently believe this to be a fairly accurate dream. The road to the …