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Uganda’s Ojangole to chair Africa’s development finance body

  Abidjan, Ivory Coast | THE INDEPENDENT | Uganda Development Bank (UDB) Managing Director, Dr. Patricia Ojangole, has been appointed Chairperson of the Association of African Development Finance Institutions (AADFI), the umbrella organization for development finance institutions in Africa. Ojangole’s appointment was announced during the 51st Ordinary General Assembly of AADFI, …

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QCIL secures $36mn to expand production as profits surge

The company hopes to increase tablet production from 1.4bn to 2.4bn annually Kampala, Uganda | THE INDEPENDENT | Uganda’s largest pharmaceutical manufacturer, Quality Chemical Industries Ltd (QCIL), has secured a US$36 million (Shs133 billion) financing facility from Stanbic Bank Uganda to construct a second production facility, capitalising on a strong financial …

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Housing Finance Bank boosts back-to-school season for parents

KAMPALA, UGANDA | THE INDEPENDENT | As the new school term gains momentum, Housing Finance Bank is offering timely support to parents, guardians, and school administrators with tailored financial solutions designed to ease the expenses of the back-to-school season. From tuition to uniforms and school supplies, starting a new term often …

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Afreximbank reports $215m net income in Q1 2025

On the payments front, the Pan-African Payments and Settlement System (PAPSS) continues to gain traction, with KCB Group in Kenya and Bank of Kigali in Rwanda integrating the platform ANALYSIS | THE INDEPENDENT | Africa’s multilateral lender, African Export-Import Bank has posted a net income of US$215 million for the first …

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