Banking agents have become the lifeline of communities, bridging the gap between formal banks and rural clients. Yet, as their role grows, so do the risks they face. Theft, fraud, and unforeseen disasters are lurking threats that can wipe out their hard-earned income in an instant.The answer? A гоbust insurance policy tailored to their unique…
Standard Chartered Bank Uganda celebrated the 2024 Diwali, with more than 200 clients, a host of VIPs, the Board and senior members of the Standard Chartered management. The event is in line with the Bank’s Diversity and inclusion agenda and was presided over by the Chief Guest, His Excellency, the Indian High Commissioner – Mr….
MTN Group Fincommerce, a subsidiary of MTN Fintech Group in partnership with MTN MoMo Uganda and collaborating with Mastercard, has officially launched its new e-commerce platform, Market by MoMo, to offer Ugandan traders and buyers a seamless online selling and shopping experience. Market by MoMo is a one-stop digital marketplace that allows Ugandans to buy…
The property sector is yet again at the receiving end of Uganda Revenue Authority’s punitive tax regime. This time, thanks to the Tax Appeals Tribunal (TAT), in their recent ruling in the tax case of Sharad Karia v URA on November 4, 2024.In brief, the ruling, denies VAT exemption for apartments which are furnished and…
Access to financial services, has increased in recent years thanks to the eruption of mobile money. Between its introduction in 2011 to date, more than 10 million accounts have been created far outstripping the banking sector’s numbers. As a result, according to a survey by the Financial Sector Deepening (FSD) financial inclusion in Uganda has…
The credit profile of Uganda reflects weak debt affordability, with interest consuming more than 20% of revenue, and constrained financing options for the government, according to the latest Moody’s Ratings updates. The latest ratings come amidst the Government’s greater reliance than in the past on costly domestic debt and non-concessional sources of external financing. “Higher…
The currency opened the week trading at 3655/3665 levels though quickly lost against the greenback to 3660/3670 and touched lows of 3670/3680 on the back of Corporate demand predominantly in the Energy and Manufacturing sector.There were some dollar inflows mainly from the agri-commodity and diaspora remittances throughout the week, however, this was not significant enough…
USAID Uganda Mission Director Daniele Nyirandutiye has expressed her concern over the persistent biases that women face in accessing credit, even when resources are available, saying that lenders frequently hesitate to trust female entrepreneurs, often dismissing their loan applications without genuine consideration. “Women entrepreneurs shouldn’t have to face this kind of bias in the marketplace,”…
Absa Bank Uganda has today handed over cash prizes totaling UGX100 million to winners from the ongoing card usage campaign dubbed “UGX 200 million can change your story”. The 10 winners used their Absa debit or credit cards for at least five transactions in the said period, September to October 2024. The campaign aims at…
Back in the 1990s, Uganda adopted several reforms. One of them was creation of semiautonomous agencies. The architects of these (largely donor-driven) reforms promised enhanced efficiency and State capacity to deliver services when bureaucracy in the mainstream ministries is sidestepped. Three decades later, evidence showed that instead, the reforms had fragmented government, increased the cost…
