Finance Ministry Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi has strongly pushed back against sceptics of Uganda’s economic progress, declaring it “foolhardy” for anyone to dismiss the country’s growth trajectory. His remarks were made on Friday at the 5th edition of the Absa Post-Budget Forum, a high-level annual engagement that brings together key…
By Richard Nsubuga, Ag. Head of Trading Absa Bank Uganda The Uganda shilling remained broadly stable against the US dollar during the week, trading within the 3755–3775 range. However, signs point to potential appreciation in the near term, as corporate demand is expected to ease with many firms conserving shilling liquidity to meet end-of-financial-year tax…
Equity Bank Uganda has reaffirmed its commitment to advancing financial inclusion by strengthening support for Savings and Credit Cooperative Organisations (SACCOs), micro businesses and grassroots entrepreneurs through tailored financing, financial literacy training and sustainability focused products. Speaking at the Uganda Central Co-operative Financial Services Ltd (UCCFS) Annual General Assembly, held at Silver Springs Hotel Bugolobi…
Standard Chartered Bank Uganda and Absa Bank Uganda Limited have received regulatory approval from the Bank of Uganda for Standard Chartered Bank Uganda Limited to sale its Wealth and Retail Banking (WRB) business to Absa Bank Uganda Limited. The approval marks an important milestone for Uganda’s banking sector and reflects continued confidence in the strength,…
Uganda’s insurance sector arrived in Mbarara carrying more than conference bags and business cards. It brought with it a quiet tension, a question hanging in the air like unclaimed luggage, can the industry grow fast enough without losing the one currency it cannot manufacture—trust? At the 8th Annual Insurance Brokers Association of Uganda (IBAU) Conference…
By Richard Nsubuga- Ag Head of Trading, CIB Markets, Absa Bank Uganda The local currency remained under pressure during the week, weighed down by sustained dollar demand from corporates, local banks, and select offshore players. As a result, the shilling weakened to trade around 3715 / 3725 on Friday, compared with last week’s close of 3695 /…
There is something quietly significant unfolding in Uganda’s banking sector, and it goes beyond the headline numbers. Pearl Bank’s latest financial results for the year ended December 2025 tell a story of strong growth. Profit after tax rose 34 percent to sh47.3 billion, customer deposits climbed 43 percent to sh1.42 trillion, and Wendi wallet balances…
By Manpreet Gill, Chief Investment Officer for Africa, Middle East and Europe at Standard Chartered’s Wealth Solutions unit Just how much should investors worry about high oil prices? Amid the ongoing Middle East conflict, it is not surprising that investors are focused on energy prices, given these remain the main channel to global financial markets….
Absa Bank Uganda has appointed Catherine Kijjagulwe as head of Markets, effective 20 January 2026. Kijjagulwe brings over two decades of deep expertise in financial markets, with a strong track record in treasury management, trading, and market strategy. She previously served as Head of Trading at Absa Bank Uganda, where she played a pivotal role…
Uganda has jumped into the 3rd position in the Absa Africa Financial Markets Index (AFMI), a leap from the 4th position in 2024. The index evaluates 28 countries, looking at factors such as market depth, access to foreign exchange, and macroeconomic stability. According to AFMI 2025, Uganda scored 66 points, behind only South Africa (86)…
