The World Trade Organization’s General Council unanimously reappointed Ngozi Okonjo-Iweala as Director-General for a second four-year term, commencing on September 1, 2025. The decision, finalized on November 29, underscores widespread acknowledgment of her leadership and strategic direction for the global trade body. The reappointment process, initiated on October 8, 2024, was chaired by Ambassador Petter…
EcoBank has announced the appointment of Elizabeth Mwerinde Kasedde to oversee its commercial banking operations. Mwerinde announced her new role on LinkedIn, marking another milestone in her extensive career. Mwerinde, an accomplished banking executive with over 26 years of experience, takes on this role after a distinguished career across several financial institutions. Her professional journey…
Standard Chartered Group has announced plans to divest its Wealth and Retail Banking operations in Uganda, a move that extends to its markets in Botswana and Zambia. The Wealth and Retail Banking division includes both personal and corporate accounts. Retail operations focus on standard banking services, such as opening savings and current accounts, as well…
Equity Bank Uganda has announced the resignation of its managing director, Anthony Kituuka, effective November 28, 2024. Kituuka, who has served in various leadership capacities since joining the bank in 2014, exits after two years as managing director. He will remain with the institution during his notice period to ensure a seamless transition. In a…
Banking agents have become the lifeline of communities, bridging the gap between formal banks and rural clients. Yet, as their role grows, so do the risks they face. Theft, fraud, and unforeseen disasters are lurking threats that can wipe out their hard-earned income in an instant.The answer? A гоbust insurance policy tailored to their unique…
Standard Chartered Bank Uganda celebrated the 2024 Diwali, with more than 200 clients, a host of VIPs, the Board and senior members of the Standard Chartered management. The event is in line with the Bank’s Diversity and inclusion agenda and was presided over by the Chief Guest, His Excellency, the Indian High Commissioner – Mr….
MTN Group Fincommerce, a subsidiary of MTN Fintech Group in partnership with MTN MoMo Uganda and collaborating with Mastercard, has officially launched its new e-commerce platform, Market by MoMo, to offer Ugandan traders and buyers a seamless online selling and shopping experience. Market by MoMo is a one-stop digital marketplace that allows Ugandans to buy…
The property sector is yet again at the receiving end of Uganda Revenue Authority’s punitive tax regime. This time, thanks to the Tax Appeals Tribunal (TAT), in their recent ruling in the tax case of Sharad Karia v URA on November 4, 2024.In brief, the ruling, denies VAT exemption for apartments which are furnished and…
Access to financial services, has increased in recent years thanks to the eruption of mobile money. Between its introduction in 2011 to date, more than 10 million accounts have been created far outstripping the banking sector’s numbers. As a result, according to a survey by the Financial Sector Deepening (FSD) financial inclusion in Uganda has…
The credit profile of Uganda reflects weak debt affordability, with interest consuming more than 20% of revenue, and constrained financing options for the government, according to the latest Moody’s Ratings updates. The latest ratings come amidst the Government’s greater reliance than in the past on costly domestic debt and non-concessional sources of external financing. “Higher…
