The Bank of Uganda (BoU) has licensed four large savings and credit cooperative societies (SACCOs), bringing the number of large SACCOs under its supervision to 10. The licences were handed over on Wednesday, October 7, 2026, at a ceremony attended by representatives of the four SACCOs. Representing the BoU Governor, Executive Director of Supervision and…
Capital markets regulator, Capital Markets Authority (CMA) has cleared the sale of shares in Dangote Petroleum Refinery and Petrochemicals FZE to selected Ugandan investors, but barred the company from making a public appeal for investors. The agency said on October 6 that it had approved the offer of securities under the refinery’s Initial Public Offering…
NCBA Bank Uganda has appointed Brian Mwine Rutemberwa as its Chief Information Security Officer (CISO), as the bank moves to strengthen its information security and cybersecurity functions. Rutemberwa joins the bank with more than 20 years of experience in technology and cybersecurity, having worked across banking, financial services, telecommunications, and other corporate environments. He has…
For years, money sent back home by Ugandans living abroad has helped families pay school fees, medical bills, build homes, and meet everyday needs. But Equity Bank is urging the diaspora to go a step further by turning part of their remittances into productive assets, businesses, and investments that can generate income. The bank made…
Christopher Legilisho, Economist at Stanbic Bank making remarks during the recently concluded Economic Forum in Kampala Investments in advertising and greater product quality were widely cited as drivers of consumer confidence, with all monitored sectors in the monthly Stanbic Purchasing Managers’ Index (PMI) registering optimism during September. Compiled by S&P Global, the latest survey data…
Old Mutual Insurance Uganda Limited has appointed Peter Mukuru as a director on its Board, bringing more than 22 years of experience across corporate governance, strategy, risk management and technology. Mukuru has held senior leadership positions in government agencies, regulatory bodies, utilities, multilateral development institutions and private-sector organisations in Uganda. His experience covers enterprise risk…
The Uganda shilling extended its depreciation against the US dollar in today’s session, weakening from opening levels of 4020 / 4030 to close at 4045 / 4055, according to the Absa Bank Uganda’s Tuesday market report. The sustained pressure continued to stem from strong dollar demand from corporate players, with offshore investors being particularly active…
Housing Finance Bank (HFB) has been reappointed by the Bank of Uganda as a Primary Dealer Market Maker (PDMM) for the 2026–2029 period, extending its experience in the Government securities market to nine years. The appointment allows HFB to participate directly in auctions of Treasury Bills and Treasury Bonds and facilitate trading in the secondary…
The Uganda shilling extended its losses against the dollar in today’s session, weakening from opening levels of 3985 / 3995 to an all-time low of 4030 / 4040, before staging a modest recovery to close at 4020 / 4030. According to Monday Absa Bank Uganda report, the depreciation was largely driven by strong and persistent…
SBG Securities, a subsidiary of Stanbic Uganda Holdings Limited (SUHL), has called on Uganda’s pensions sector to play a more strategic role in financing the country’s long-term economic transformation, saying the industry’s growing pool of long-term savings can become a powerful catalyst for achieving the government’s ambition of growing the economy tenfold by 2040. The…
