The currency opened the week trading at 3655/3665 levels though quickly lost against the greenback to 3660/3670 and touched lows of 3670/3680 on the back of Corporate demand predominantly in the Energy and Manufacturing sector.There were some dollar inflows mainly from the agri-commodity and diaspora remittances throughout the week, however, this was not significant enough…
USAID Uganda Mission Director Daniele Nyirandutiye has expressed her concern over the persistent biases that women face in accessing credit, even when resources are available, saying that lenders frequently hesitate to trust female entrepreneurs, often dismissing their loan applications without genuine consideration. “Women entrepreneurs shouldn’t have to face this kind of bias in the marketplace,”…
Absa Bank Uganda has today handed over cash prizes totaling UGX100 million to winners from the ongoing card usage campaign dubbed “UGX 200 million can change your story”. The 10 winners used their Absa debit or credit cards for at least five transactions in the said period, September to October 2024. The campaign aims at…
Back in the 1990s, Uganda adopted several reforms. One of them was creation of semiautonomous agencies. The architects of these (largely donor-driven) reforms promised enhanced efficiency and State capacity to deliver services when bureaucracy in the mainstream ministries is sidestepped. Three decades later, evidence showed that instead, the reforms had fragmented government, increased the cost…
Mr. Paul Muhame, Chairman of the Insurance Brokers Association Uganda (IBAU), has been appointed as the President of the East Africa Insurance Brokers Association (EAIBA) for the year 2025. This prestigious role highlights Mr. Muhame’s significant contributions to the insurance industry and his commitment to advancing best practices across East Africa. With over 20 years…
Friday, 04th October 2024- Kampala, Uganda: MTN Uganda Limited informs its shareholders and the public that Mr. Somdev Sen will cease to be the Chief Marketing Officer of the company effective October 11th 2024, following the end of his tenure. During his seven (7) years of service, Mr. Sen has been a transformative leader at…
PostBank in partnership with MTN Mobile Money (MTN MoMo) have launched Xtracash, a digital Micro Lending solution that is positioned to extend short term facilities to MTN mobile money subscribers. This initiative is poised to provide approximately 13 million mobile wallet holders in the country with convenient access to financial assistance. XtraCash will be accessible…
BY Musinguzi Bob Mugisha The Uganda Securities Exchange (USE) launched a groundbreaking electronic purchasing platform for treasury bills and bonds on October 25, 2024, as part of the World Investor Week under the theme “Tech-Enabled Financial Inclusion: Bringing Sustainable Finance and Investment Opportunities to Everyone.” Accessible at www.scd.use.or.ug, this platform allows investors to directly purchase…
Uganda’s premier platform for recognizing excellence in financial leadership is back with its 8th edition of the ACCA and Deloitte Uganda Chief Financial Officer (CFO) Awards. This prestigious event focuses on celebrating outstanding financial leaders who have made significant contributions to their organizations and the economy. Charlotte Kukunda, Country Manager ACCA Uganda noted that the…
Citi has announced a EUR 126 million loan to the Government of the Republic of Uganda to fund the design and build of the Lusalira to Sembabule road project in Uganda. Citi acted as sole coordinating Mandated Lead Arranger and a lender. The financing was supported by African Trade and Investment Development Insurance (ATIDI) and…
