FINANCE

Banks of Uganda have announced that ABC Capital Bank (U) Limited, Guaranty Trust Bank (U) Limited, and Opportunity Bank Limited are transitioning from tier one commercial bank license to tier two credit institution license effective July 1, 2024.According to the central bank, the transition will be a period of three months, starting April 1, 2024, […]

President Yoweri Kaguta Museveni has launched Salaam Bank, Uganda’s first ever licensed Islamic Banking institution.Islamic banking is a form of banking based on Islamic principles. Basically, in Islamic banking it is not allowed to pay and receive interest but rather it is based on profit sharing.Islamic banks focus on generating returns on investments through investment […]

Stanbic Uganda, a franchise of the Standard Bank Group, Africa’s largest commercial lender by assets, has announced a profit after tax of Shs412 billion for the period ending December 2023 representing 15.2 percent growth from Shs357 billion earned the previous year.Trading on the Uganda Securities Exchange as Stanbic Uganda Holdings Limited (SUHL), it runs five […]

The State House Investors Protection Unit and the National Planning Authority (NPA) have recently held a brainstorming meeting on the establishment of an Indigenous Patient Capital and Cross-border African Investment Bank.The meeting was held at the State House Investors Protection Unit Offices in Kampala.The meeting comes hot on the heels of the President’s directive to […]

Stanbic Bank Uganda has announced the official commencement of the 9th edition of the esteemed National Schools Championship (NSC).This call for application event took place on Monday 18th March 2024 during a meeting of Municipal and District Education Officers (DEOs) convened at the National Teachers College Muni in Arua City.The National Schools Championship is an […]

As the world continues to celebrate the international women’s month, Stanbic Bank Uganda has re-echoed its commitment in supporting and empowering women lead groups. This call was made today during the annual Ring the Bell for gender equality conference at the Sheraton Hotel in Kampala. The international women’s theme for 2024 is: “Invest in Women; […]

Standard Bank has been ranked as the most valuable banking brand in Africa in 2024.  This is the third consecutive year that Standard Bank has been ranked first in Africa Brand Finance’s annual ranking of the world’s Top 500 Banking Brands.The bank also increased its brand value by 12.4% in the last year to reach […]

A Bank of Uganda special Monetary Policy Committee (MPC) meeting has increased the Central Bank Rate (CBR) to 10 percent, up from 9.5 percent announced in February.The Central Bank’s Deputy Governor, Michael Atingi-Ego, said the decision to increase the CBR was informed by the depreciation of the Shilling.Rising inflation Both headline and core inflation rose […]