Financial Services Stories
MTN, Mastercard launch e-commerce platform..
Nov 20th, 2024Business Edge ReporterPeterIn another first, MTN Uganda has become the first subsidiary of the MTN Group to launch an e-commerce platform, aimed at giving Ugandans a seamless on..
Relief as Gov’t sets interest rates for mone..
In a bold move aimed at tightening the noose on unscrupulous money lenders, the Government has published Legal Instrument 21 of 2024, which caps inter..
DTB enters mobile phone lending segment..
Diamond Trust Bank (DTB) and Credable Group have entered a partnership through which Ugandans will be able to borrow microloans via Airtel Money...
DTB customers to receive cash at no cost..
Diamond Trust Bank Uganda (DTB) has partnered with Xpress Money, an international money transfer service, to enable customers to receive money in over..
Five men remanded after phone-flashing crackdo..
A crackdown on the growing menace of identity theft, phone theft and flashing fraud has resulted in the arrest and prosecution of five men. ..
Unit trusts total assets soar to UGX 3.5 trill..
Uganda's financial assets under management (AUM) in the Collective Investment Scheme (CIS) market have hit an all-time high, reaching UGX 3.5 trillion..
Fintech industry stimulating local economies..
Uganda is embracing the digital age, and the fintech sector is growing rapidly, transforming how people access financial services. At the forefront of..
Watu Uganda celebrates global service accolade..
Watu Uganda, one of the country’s leading asset-financing companies, has been awarded the prestigious Client Protection Certification award...
Bank loans grew by 6.8% in 2024, says BoU..
Commercial bank lending activities in Uganda have shown a robust increase, growing by 6.8% in the financial year ending June 2024, according to the Ba..
DTB earmarks UGX400m for youth health initiati..
The United Nations Population Fund (UNFPA) and Diamond Trust Bank (DTB) Uganda have signed a partnership worth USD106,458 (about UGX400 million) as a ..
The Top 10 strongest currencies in 2024..
Globally, the United Nations recognizes 180 currencies as legal tenders. The factors that determine the strength of a currency include the amount of ..
Diamond Trust endorses UN responsible banking ..
Diamond Trust Bank (DTB) has become the latest financial institution to sign the UN Principles for Responsible Banking, which aim to align the banking..
Stanbic Bank assets, net profits surge ..
Stanbic Uganda Holdings Limited has announced a significant improvement in its financial performance, with total assets reaching UGX9.7 trillion, a 3...
UDB registers UGX 50 billion profits..
The Uganda Development Bank (UDB) has announced its 2023 annual performance report, highlighting its continued role in fostering economic resilience a..
DTB plants UGX90m in Kasonke Forest Reserve..
Diamond Trust Bank Uganda has entered a partnership with the National Forestry Authority to restore degraded parts of Kasonke Central Forest Reserve...
Stanbic Business Incubator gets new boss..
Stanbic Holdings Uganda Ltd has announced the appointment of Catherine Poran as the Chief Executive Officer of Stanbic Business Incubator...
Mixed reactions as Bank of Uganda goes for gol..
The Bank of Uganda (BoU) says it is set to start buying gold from the local market, amid concern over the ramifications on the economy given the count..
Consolidate cross-border collaboration, region..
Stakeholders in the banking industry in the East African Region have been urged to find ways of working together more closely in a bid to strengthen t..
Insurance industry premiums top UGX1.6 trillio..
The Ugandan insurance sector displayed remarkable resilience and growth in 2023, with Gross Written Premiums (GWP) increasing by 11.3% to reach UGX1.6..
NCBA Bank commits millions to central forests ..
NCBA Bank Uganda, in collaboration with the National Forestry Authority (NFA), has embarked on the restoration of degraded forests across the country...
Stanbic unveils unit trust investment option..
Stanbic Uganda Holdings Ltd, the mother company of SBG Securities Ltd, has unveiled its unit trust, aimed at enabling individuals and companies to poo..
New MTN’s Zimba initiative to boost small bu..
MTN MoMo has launched a new initiative designed to empower small and medium-sized enterprises (SMEs) across Uganda. ..
Why BoU closed Mercantile Credit Bank..
The banking industry is reeling with shock following the decision by the Bank of Uganda, the regulator of the financial services industry, to close do..
Stanbic’s FlexiPay starts global money trans..
Ugandans working in the United Arab Emirates, the United Kingdom, the United States, South Africa, Kuwait, and more than a dozen other countries can n..
NCBA Bank injects UGX80m into 2024 Golf Series..
NCBA Bank Uganda in conjunction with the Uganda Golf Club, have launched the 2024 NCBA Golf Series, a premier event aimed at advancing the sport of go..
UDB, Centenary Bank scoop top banking accolade..
The Uganda Development Bank (UDB) and Centenary Bank, an indigenous Ugandan bank, have won awards at the prestigious Banker of the Year Awards held in..
New NCBA branch to serve Namanve investors..
NCBA Bank has opened a new branch, strategically located in Namanve Industrial Park near Kampala, a development officials said underscores the bank’..
BoU chief salutes DTB’s Thambi over exceptio..
The Bank of Uganda Acting Governor, Dr Michael Atingi-Ego has hailed Thambi Verghese, the outgoing managing director of Diamond Trust Bank Uganda, for..
UBA elects new Board as assets soar to UGX50 t..
Members of the Uganda Bankers Association (UBA) have voted Julius Kakeeto as their new chairperson, replacing Sarah Arapta. ..
Salaried employees warned on saving..
Individuals and businesses should take advantage of the current fragile economic situation to adopt a culture of saving, which is crucial for sustaini..
NCBA Bank partners with NFA to plant 20,000 tr..
Corporate banker, NCBA Bank Uganda, has entered a partnership with the National Forestry Authority (NFA) for an ambitious initiative to re-plant 20,00..
Bankers protest proposed ATM cash tax..
Commercial banks have objected to the government proposal to impose a 0.5% levy on all cash withdrawals made through ATMs, saying the move would be co..
I&M Bank partners with Nnaabagereka for Queen'..
I&M Bank Uganda has partnered with the Nnaabagereka Fund to organise the first Queen's Ball, aimed at raising funds to support women, youth, and child..
NCBA Bank buoyed by UGX27 bn net profit..
Corporate banker, NCBA Bank Uganda has announced its financial results for the fiscal year 2023, showcasing robust growth and profitability driven by ..
New UDB incubator plan targets 290 entrepreneu..
The Uganda Development Bank, Uganda's national development finance institution, has announced the launch of an incubator programme designed to prepare..
Will new guidelines mop up online lending mess..
Moses Nkonge desperately needed cash to put windows and doors in his family house having got fed up of renting. A friend suggested that he gets a loan..
Inflation: Bank of Uganda raises CBR again ..
For the second month in a row, the Bank of Uganda has raised its key rate, the central bank rate (CBR) in a bold move to combat inflation...
Young golfers shine at NCBA Golf Open ..
Junior golfers from five different countries have demonstrated their talent and passion for the sport at the NCBA Uganda Golf Open 2024, hosted at the..
Will new online lending guidelines foster resp..
Last month, the Uganda Microfinance Regulatory Authority (UMRA) introduced digital lending guidelines tailored for microfinance institutions (MFIs) an..
New report highlights serious gaps in NSSF ben..
The majority of people who received their benefits from the National Security Fund (NSSF) did not acquire any form of financial literacy before receiv..
Sebaana new DTB boss as Thambi exits..
Diamond Trust Bank Uganda (DTBU) has named Godfrey Sebaana as its new CEO and Managing Director, effective April 2, 2024...
Stanbic declares UGX155 billion in dividends..
Stanbic Uganda Holdings Ltd, the mother company of Stanbic Bank Uganda, have published their annual financial report for the year ended 2023, which ha..
Diamond Trust Bank, UAP in new partnership..
Diamond Trust Bank Uganda and UAP Old Mutual Insurance Uganda have entered a partnership to deliver general and life insurance products and services, ..
Semakula appointed SBG Securities boss..
SBG Securities, a subsidiary of Stanbic Uganda Holdings, has named Grace Semakula as its new CEO, effective March 1...
DTB, TerraPay ease money transfer..
TerraPay, a top European money transfer company, and Diamond Trust Bank Uganda (DTB), have announced a strategic partnership to expand international m..
Top NCBA clients to enjoy premier banking serv..
NCBA Bank Uganda has made waves in the banking sector with the unveiling of its revamped Premier Banking offering, given the array of exciting benefit..
Financial Markets: Uganda Top In EAC..
Uganda has once again asserted its dominance in the East African financial landscape, with the latest Absa Africa Financial Markets Index, highlightin..
140 to lose jobs as BoU revokes EFC's licence..
More than 140 employees of EFC Uganda Ltd, a microfinance deposit-taking institution, are sweating over their next move following a decision by Bank o..
Crane Bank Sale: Top BoU, DFCU bosses face pro..
The Supreme Court of the United Kingdom has blocked DFCU Bank’s attempt to sidestep the prosecution of its top bosses in a case where they are accus..
Stanbic Uganda Holdings Gets New Boss..
Mr. Francis Karuhanga has been named the new Chief Executive Officer of Stanbic Holdings Uganda Ltd, replacing Andrew Mashanda, effective January 1, 2..
New DTB, KACITA partnership to boost women ent..
Diamond Trust Bank and the Kampala City Traders' Association (KACITA) have entered a partnership aimed at boosting small businesses and entrenching En..
Capital Markets Authority Gets New Boss..
Ms Josephine Ossiya has been appointed Chief Executive Officer of the Capital Markets Authority (CMA)...
Anxiety As Donor Aid to Uganda Slumps..
Declining donor aid means a higher tax burden on citizens and more foreign debt to bankroll notoriously high public expenditure. Concern is rising as ..
Government reaffirms support to scientists..
President Yoweri Kaguta Museveni has warned public officials against taxing innovations, saying there's no logic in taxing innovations when Uganda giv..
BIRDIC Commissions New Generation Tuku Tuku Ve..
The Banana Industrial Research and Development Center (BIRDIC) whose mission is to use research to develop and market banana-based valued-added produc..
MTN Uganda awarded as the fastest mobile netwo..
25 th January 2023 - Kampala, Uganda: MTN Uganda has been recognized for the top position as the mobile operator with the fastest internet speed in U..
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Zero dividends as Vision Group losses worsen ..
Uganda’s largest media house, New Vision Printing and Publishing Corporation, has reported a furth..
MTN, Mastercard launch e-commerce platform..
In another first, MTN Uganda has become the first subsidiary of the MTN Group to launch an e-commerc..
August coffee exports set new 838,000 bags re..
Uganda’s coffee industry soared to new heights in August 2024, earning UGX820 billion from exports..
KK Security rebrands to GardaWorld Security..
KK Security has officially transitioned to GardaWorld Security in Uganda, marking a significant shif..
Digital skills for youth must be an urgent pri..
"I can’t believe this is happening! We have computers now!" exclaimed Aisha Nakalema, a student at..
MTN offers girls’ skilling initiative UGX270..
Smart Girls Foundation, a Kasangati-based girls’ skilling initiative, is set to receive an additio..
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Manufacturers task Gov't, banks on high intere..
The Government wants commercial banks to lower the interest rates they charge manufacturers so as to..
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MTN scoops fastest internet award..
Ookla, the global leader in internet testing and analysis, has announced MTN Uganda as the Fastest M..
Anxiety as donor aid taps shrink further..
During the recent presentation of the Budget Strategy for the Financial Year 2025/2026, officials fr..
Kidepo National Park to get posh airport, hote..
The Government of Uganda has reached an agreement with the Sharjah Chamber of Commerce and Industry,..
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President Museveni Takes Over Chairmanship Of ..
Uganda has assumed the chairmanship of the Group of 77 plus China (G77+China)...
Gov’t launches Buyende nuclear resettlement ..
The government has officially launched a Resettlement Action Plan (RAP) to facilitate the constructi..
Zero dividends as Vision Group losses worsen ..
Uganda’s largest media house, New Vision Printing and Publishing Corporation, has reported a furth..
MTN, Mastercard launch e-commerce platform..
In another first, MTN Uganda has become the first subsidiary of the MTN Group to launch an e-commerc..
Uganda among top 20 FDI destinations in 2024 ..
Uganda has been named among the top 20 investment destinations on the African continent in 2024...
Uganda, South Sudan moot joint dam projects..
Pal Mai Deng, the South Sudanese minister of Water Resources and Irrigation, has submitted a memo to..
Uganda, 15 countries set for electricity trade..
The Eastern Africa Power Pool (EAPP), an intergovernmental organization that was established to prom..
Likely implications of Trump return for Africa..
Across Africa, Donald Trump’s forth-coming second term holds various implications for the continen..
Optimism as Uganda nears full BRICS nod..
Uganda has become one of the two African countries that have been admitted into the BRICS alliance i..
IMF projects modest global growth amid persist..
The International Monetary Fund (IMF) has projected modest global economic growth over the next two ..