FINANCE

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 […]

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 […]

Standard Chartered recently announced the rollout of enhanced global parental leave benefits that will also benefit its employees in Uganda, effective 1 September 2023.The Bank will standardise the amount of parental leave it offers, providing parents the option of undertaking more equitable caregiving responsibilities for their children.With the enhanced benefits, employees can access a minimum […]

The Minister of State for Microfinance Haruna Kyeyune Kasolo reveals that effective Financial Year (FY) 2024/25, grants (funds) directly transferred as “other Government Transfers” through MDAs to local governments will be streamlined in the respective local government votes to ensure efficiency & also limit duplication of efforts.Kasolo, who was opening a Local Government Budget Consultations […]

Stanbic Bank Uganda’s Head of Marketing Daniel Ogong was named Marketing Professional of the Year 2023 at the 2nd African Marketing Confederation (AMC) Conference. The conference took place at the Imperial Botanical Beach Hotel in Entebbe from 6th to 9th September, 2023.The conference and the awards ceremony was hosted by the Uganda Marketers Society. According […]