FINANCE

Standard Chartered Bank Uganda is now offering clients access to global banking products and services after launching its International Banking services offered in international financial centres including the UAE and the UK, amongst others.The Chief Executive Officer of Standard Chartered Bank Uganda, Sanjay Rughani, said the introduction of International Banking in Uganda is ‘a significant […]

Uganda is no longer under Increased Monitoring by the Financial Action Task Force (FATF) grey list, the fifth Plenary of the FATF that recently sat in Singapore announced.The other countries to achieve this feat are Barbados, Gibraltar, and the United Arab Emirates.The FATF plenary congratulated these countries for their significant progress in addressing the strategic […]

Machine learning, generative artificial intelligence (AI”), predictive analytics, and other advanced technologies empower businesses with speed and intelligence, however, their proliferation also offers opportunities for fraudsters, the Deputy Governor of the Bank of Uganda, Michael Atingi-Ego, has revealed.”Unfortunately, malicious actors utilize these tools to their advantage. For instance, scammers leverage ChatGPT to craft phishing emails […]

Members of the Uganda Bankers Association, the Deputy Governor of Bank of Uganda, Dr. Michael Atingi-Ego, and the Permanent Secretary of the Ministry of Information, Communications Technology and National Guidance, Dr. Aminah Zawedde, Monday in Kampala launched the guidelines and a code of ethics aimed at harmonizing at strengthening the fight against fraud in the […]

January purchase prices increased on the back of higher costs for construction materials and food products, but staff costs decreased for the first time in almost 17 months as the headline Stanbic Purchasing Managers’ Index (PMI) slipped to 54.0 in January from 54.8 in December.Readings above 50.0 signal an improvement in business conditions on the […]

Members of Parliament led by the Deputy Speaker, Thomas Tayebwa, have rallied Ugandans to donate blood to address the shortage of blood within the country.“Let us donate blood, you never know who you will save you, your relatives or loved ones in the future. Nakasero Blood Bank has been around the country appealing to people […]

Uganda Development Bank (UDB) has handed over assorted furniture worth Shs45 million to the National Leadership Institute (NALI) as part of its Corporate Social Responsibility. The Managing Director of UDB, Patricia Ojangole, said the bank believes in contributing to the all-round development of society. “At UDB, we have etched a culture of serving beyond our […]

Uganda Development Corporation (UDC) officials led by the board chairperson, Godfrey Ruhurira, met with the board chairperson of Uganda Manufacturers Association (UMA), Deo Kayemba, to discuss areas of strategic partnership for industrial development.The UDC is the investment arm of the government mandated to promote and facilitate the industrial and economic development of Uganda while UMA […]

Centenary Bank is turning to social media network WhatsApp to provide customer-centric banking solutions. To achieve this, the commercial bank launched CenteWhatsApp Banking, a service designed to provide customers with convenient and secure access to a wide range of banking services directly through the messaging platform.CenteWhatsApp banking capacitates WhatsApp to bring banking services closer to […]

Uganda Development Bank (UDB), the country’s national Development Finance Institution, has signed a Loan Portfolio Guarantee agreement with the African Guarantee Fund (AGF).The agreement will scale up lending to SMEs, Women, Youth-affiliated businesses, and green projects in Uganda with credit worth Shs16 billion.The announcement was made during an agreement signing ceremony that was held at […]