Stanbic Bank has launched access to China’s Cross-Border Interbank Payment System (CIPS), allowing Ugandan businesses to settle trade transactions directly in Chinese yuan (renminbi/RMB) and reducing reliance on the US dollar. This development positions Stanbic, part of the Standard Bank Group, as the first financial institution in the country to offer the integration. It was…
By Laura Bahemuka, Head MSME and Retail Products at Pearl Bank The evolution of banking from what it was, brick-and-mortar, to what we are witnessing today is all thanks to the growth in technology and innovations that have enabled digitisation in banking, so that more people are ushered into formal financial services through self-serve options….
The Uganda shilling strengthened modestly last week, supported by robust hard currency inflows from commodity exporters, remittances, and non-governmental organizations, which outweighed prevailing demand for foreign exchange from corporate entities. According to Absa Bank Uganda weekly market report, the local unit was quoted at 3725 / 3735 on Friday morning, compared to 3745 / 3755…
The Uganda shilling strengthened against the US dollar in Wednesday’s trading session, supported by optimism surrounding the de-escalation of political tensions in the Middle East, according to Absa Bank Report. The local currency opened the day at 3730 / 3740 and appreciated to an intraday high of 3725 / 3735. In the money markets, liquidity…
Uganda Airlines has launched new routes to Accra, Ghana, and Kigali, Rwanda. The national carrier says the new routes will deepen trade, tourism and investment links between Uganda and West Africa while strengthening its regional connectivity. Flights to Accra will commence on October 27 while those to Kigali will start on November 18. Speaking at…
Immaculate Asiimwe, Head of payments and channels at Equity Bank Uganda Equity Bank Uganda introduced Equity Online for Business, a next-generation platform designed to simplify financial management for enterprises of all sizes in April 2026. Immaculate Asiimwe, Head of payments and channels at Equity Bank Uganda, explains why the platform was developed, how it is…
The Uganda shilling traded slightly weaker against the dollar in today’s session, weighed down by strong interbank demand that exceeded available supply, according to Absa Bank Uganda Tuesday Market Report. The local currency opened the day at trading at 3735 / 3745 and gradually weakened to close at 3740 / 3750. Market activity remained elevated,…
A total of 165 women-led enterprises have graduated from the Green Businesses and Jobs for the Green Transformation Project, marking a major milestone in efforts to strengthen women’s entrepreneurship, create green jobs and accelerate Uganda’s transition to a sustainable economy. The graduation ceremony, organised by Stanbic Business Incubator Limited (SBIL) in partnership with GIZ, the…
The Uganda shilling strengthened against the US dollar in today’s trading session, supported by optimism surrounding the de-escalation of political tensions in the Middle East, according to Monday Absa Bank Uganda Market Report. The local currency opened the week at 3740 / 3750 and appreciated to an intraday high of 3725 / 3735. However, renewed…
Gift Shoko, the Manging director of Equity Bank and Professor Augustus Nuwagaba, the deputy Govenor Bank of Uganda Ugandans living abroad have been urged to move beyond sending money home for family upkeep and instead invest in businesses and other productive sectors that create wealth and support the country’s economic growth. The call was made…
