The Uganda shilling came under depreciation pressure against the US dollar during the early trading session, weakening from 3680/3690 to an intraday low of 3695/3705 before recovering to close at 3685/3695. This was according to Absa Bank’s Monday market report. The move was largely driven by strong demand from interbank market participants. However, steady commodity…
By James Sserumaga, Head of Bancassurance, Equity Bank Uganda Uganda’s bancassurance industry continues to demonstrate remarkable momentum, with banks generating more than UGX 80.8 billion in insurance premiums during the first quarter of 2026 alone. According to the latest industry performance report, Equity Bank Uganda ranked fourth among the country’s 22 licensed bancassurance providers, generating…
KCB Bank Uganda celebrated the graduation of Senior Leaders and NextGen Leaders from its KCB Leadership Way Academy’s programmes, underscoring the Bank’s commitment to building a high-performance leadership pipeline to drive growth, innovation, and excellent customer experience across its operations. The graduation ceremony was presided over by KCB Bank Uganda Managing Director Edgar Byamah and…
The Uganda shilling lost ground during the week weighed down by robust demand for hard currency from local market participants, offshore investors and renewed tensions coming out of the Middle East in the recent hours of the day. According to Absa Bank Uganda weekly market report, the shilling closed the day trading at 3670 /…
The Uganda shilling strengthened against the U.S. dollar, reversing some of the losses recorded earlier as dollar demand softened following market turbulence triggered by tensions in the Middle East. According to Absa Bank Uganda Thursday market report, increased dollar sales in the interbank market supported the local currency, with the shilling closing at 3680/3690 compared…
NCBA Bank Uganda has launched its new Business Banking offering alongside the “Ku NCBA Kiggwa Ku Bwerere” campaign, reaffirming its commitment to empowering Ugandan businesses with accessible financing, innovative digital banking solutions, and strategic business support. The new proposition is designed to support businesses across every stage of growth by providing faster access to finance,…
The Bank of Uganda (BoU) has announced new over-the-counter cash withdrawal limits that will take effect on 1 January 2027, in a move aimed at encouraging greater use of digital payment systems. The new limits will apply to all accounts held with supervised financial institutions. Individual account holders will be allowed to withdraw up to…
The Uganda shilling lost ground on Wednesday weighed down by robust demand for hard currency from local market participants and offshore investors liquidating part of their government bond holdings ahead of tomorrow’s redemption and renewed tensions coming out of the Middle East in the recent hours of the day. According to Absa Bank Uganda’s Wednesday…
Pride Bank Limited has secured a prestigious ISO/IEC 27001:2022 certification for its Information Security Management System (ISMS). The bank officially received the certification during a press conference held on Tuesday in Kampala. Officials say the certification shows the strong commitment to international best practices in data protection and cybersecurity. The ISO/IEC 27001:2022 is the globally…
Finance Minister Henry Musasizi has told the Uganda Development Bank (UDB) to put its financing muscle behind the country’s anchor growth sectors, saying this is what will get Uganda to its target of a USD 500 billion economy by 2040. Musasizi was speaking during a meeting with UDB’s Board of Directors and management at the…
