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Ugandan bankers bet on ESG for growth

From green bonds to women in business programs, banks are now betting on a new approach  Kampala, Uganda | IAN KATUSIIME | The seventh annual bankers’ conference, held at the Kampala Serena Hotel, was abuzz with pitches and plans on Environmental Social and Governance (ESG), a new agenda sweeping through businesses …

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ActionAid: Tax ‘surplus’ profits by oil firms and banks

Kampala, Uganda | THE INDENPENDENT | ActionAid International  is urging countries including Uganda to impose taxes on surplus profits earned by fossil and the banking sectors. ActionAid International says a surplus profit technically known as a Windfall profit tax could generate as much as US$382 billion in revenue, an amount that …

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Banks respond to rising mass affluence in Africa

Demand for goods and services expected to surge as continent’s middle class spend hits US$2.5 trillion by 2030 COMMENT | MARGARET SOI | The purchasing power of Africa’s middle class is expected to grow significantly in the coming years: the continent’s middle class is expected to spend US$2.1 trillion by …

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African banks take over after international lenders exit

 Local financial companies are capitalising on the opportunities left by international banks exiting Africa yet continue to struggle with the gap between perceived and actual risks in the market. SPECIAL REPORT | BIRD AGENCY |  In early 2022, UK-headquartered Standard Chartered Bank announced it was exiting five African countries and …

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UBA: No more fines for repaying a bank loan early

Kampala, Uganda | THE INDEPENDENT | Commercial bank customers can now opt to pay their outstanding loan balances earlier than scheduled, without fear of being charged for the early clearance. This follows the decision made by the Regulated Financial Institutions under the Uganda Bankers Association (UBA) last month and communicated …

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Stop EACOP shifts campaign to Chinese banks

Kampala, Uganda | THE INDEPENDENT | The stop EACOP campaigners are now targeting Chinese banks and insurance firms from funding the longest crude oil pipeline between Uganda and Tanzania. The latest move by the international and their local campaigners comes after they successfully fought off Western banks and insurance firms from …

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