Tom Ongom, an elder and founder of the Abur Lango Farmers Cooperative Society, said the use of threshers has reduced the time spent on threshing sorghum compared to the traditional manual hand-beating method. In July, Uganda Breweries Limited donated five threshers worth about UGX 25 million to benefit 1,000 smallholder farmers across the country, aiming…
Absa Bank Uganda has handed over cash prizes worth UGX 50 million to 5 lucky winners in the ongoing card usage campaign dubbed “UGX 200 million can change your story”. The five winners used their debit or credit cards for at least five transactions in November to pay for goods and services such as shopping,…
The Central Bank of Kenya (CBK) lowered its benchmark lending rate to 11.25% from 12.00% this week, signaling a shift to a more accommodative monetary policy to support economic growth amid slowing activity. The rate cut is aimed at reducing borrowing costs to boost credit uptake by businesses and consumers, the CBK said. Inflation remains…
This is a verbatim from the deputy governor at Bank of Uganda Micheal Atingi Ego. He made the remarks before journalists on the sidelines of the release of the Monetary Policy Briefing for December at the Bank of Uganda. I want to emphasise that the fact that investigations are still ongoing and I would not…
Stanbic Bank Uganda has appointed Mumba Kenneth Kalifungwa as chief executive officer and board member, effective March 1, 2025, following regulatory approval. Mumba, who has nearly 30 years of professional experience, including 20 years in senior banking roles, has worked in Botswana, Zambia, and Uganda. Mumba has focused his career on business development, risk management,…
By Brenda Mpoora Kaka Mbabazi feels more in control of her life these days. She turned 73 at the beginning of this year and has never owned a bank account. Until June this year, when her granddaughter Patience signed her onto PostBank’s Wendi mobile platform in addition to registering her with her local SACCO. Long…
Absa Bank hosted a farewell event on November 28, 2024, at the Kampala Serena Hotel to honor outgoing Board Chairperson Nadine Byarugaba and Board Member Professor Barnabas Nawangwe. During the farewell dinner, the Ag. Board Chairman George Opio, applauded Byarugaba’s leadership and wise counsel that she brought to Absa Bank which led to tremendous growth….
The World Bank Group has named Dr. James Mwangi, Managing Director and CEO of Equity Group Holdings, to its newly established High-Level Advisory Council on Jobs. The council, launched during the 2024 World Bank Group-IMF Annual Meetings in Washington, D.C., brings together global leaders to tackle the growing employment crisis in developing and emerging economies….
African policymakers and international partners meeting at this year’s UN Climate Change Conference, COP29 on Tuesday highlighted the urgent crisis posed by lack of access to clean cooking, a challenge impacting 1.2 billion people across Africa and leading to millions of premature deaths annually. “It is unacceptable that women are still dying because they lack…
The Bank of Uganda (BoU) has said it has initiated an investigation into two incidents of fraudulent activity that resulted in international payments being diverted from their intended recipients. The Daily Monitor reported that close to sh62b was reported stolen from the central bank by hackers, identifying themselves as “Waste” recently. The incident is said…
