Standard Chartered Bank Uganda in partnership with their NGO partners Cordaid Uganda and Youth Business International (YBI) launched the Business Resilient Matching Grant Program as they celebrated Purple Tuesday.Purple Tuesday is a global social movement that advocates for the improvement of the customer experience for disabled people and their families.The bank is celebrating this initiative […]
The State Minister for Finance, Henry Musasizi, has told Parliament that the government and the World Bank are engaged in heavy negotiations regarding the recent decision halting funding to Uganda over the passing of the Anti-Homosexuality Act.The minister urged Ugandans not to worry about losing the lender because the negotiations will yield positive results.”We have […]
The Bank of Uganda (BoU), the Uganda Institute of Banking and Financial Services (UIBFS), the Uganda Bankers Association, the Deposit Protection Fund, financial sector regulatory institutions, financial service providers, development partners, and other stakeholders have used this year’s World Savings Day to invite Ugandans to trust their savings with regulated financial institutions.The Deputy Governor of […]
The recently passed Anti Homosexuality Act has had devastating impacts on the Ugandan economy including the World Bank suspending offering Uganda new loans.This move by the World Bank immediately after it was announced had a direct hit and negative impact on the country’s currency, the Shilling.The Bank of Uganda has informed Parliament that following the […]
Uganda Bankers Association (UBA) has launched The Women Economic Empowerment Initiative (WEEI), a program that will serve as a focal point to address the myriad of issues that hinder the progress of women in the financial sector professional setting & ultimately women entrepreneurs.This social impact initiative will contribute to Sustainable Development Goal 5; Achieve Gender […]
In it’s annual report which was approved by the Auditor General, the Bank of Uganda (BoU) says it spent Shs199.3bn on printing & issuance of new currency in Uganda in 2022/23. The Bank of Uganda also spent Shs172.3Bn for the same purpose in the financial year 2021/22. “As the Bank issued more new currency to […]
The veterinarians’ SACCO (VetWealth) have announced a net profit of sh21million in the past financial year at the Annual General Meeting that sat in Kampala on Saturday.The theme of the AGM was “Saving, Investing for Sustainable Economic Empowerment of Veterinarians in Uganda”.Based on these results, the SACCO chairperson, Emmanuel Opio Emodu, affirmed that the future […]
Uganda Development Bank has announced that it is offering up to Shs150bn to support and enable the growth of Ugandan contractors. The state-owned bank said it offers timely and cheap patient financing as well as favourable terms for accessing big bonds and guarantees. The UDB contractors’ financing initiative is aimed at providing targeted financial and […]
The Minister of Finance, Planning and Economic Development Matia Kasaija has declared a 10% interest rate on savers money during the Annual Members Meeting in Kampala on Tuesday.Kasaija congratulated the NSSF Board and Management for posting a remarkable performance on almost all the Key Performance Indicators.”In accordance with section 35(2) of the NSSF Act, as […]
The National Social Security Fund (NSSF) reveals that their revenue witnessed a notable growth of 15%, surging from Shs1.9 trillion to Shs2.2 trillion by the close of the Financial Year ended June 30, 2023.The Fund further reveals that the dividend income also exhibited substantial growth, expanding from Shs84 billion to Shs139 billion. Furthermore, the income generated […]