Kampala, Uganda | THE INDEPENDENT | Standard Chartered Bank Uganda has launched an offshore Mutual Funds product for their clients during a press conference held at Kampala Serena Hotel and presided over by the Bank’s CEO, Sanjay Rughani and Keith Kalyegira, the CEO, Capital Markets Authority among other executives. With this …
Read More »Egypt’s currency halves in value in 10 months
Cairo, Egypt | Xinhua | The Egyptian pound further declined against the U.S. dollar on Wednesday, plunging to below 31 pounds to the dollar before settling at 29.7 in the afternoon. The Egyptian local currency has lost about half of its value since March 2022, when a dollar was worth …
Read More »Absa Bank Uganda launches enhanced loan products for customers
Kampala, Uganda | THE INDEPENDENT | In recognition of an uncertain economic environment, Absa Bank Uganda has announced special financing packages intended to help customers kick start the new year on a stronger footing. The enhanced financing offering targeting salaried individuals includes a 2-month repayment holiday upfront, 0% arrangement fees …
Read More »Bankers urged to maintain ethics amid economic downturn
Kampala, Uganda | THE INDEPENDENT | Practitioners in the banking and financial services industry have been urged to maintain their ethics amid the current slowdown in economic activity, the Executive Director for Supervision at the Bank of Uganda – Dr Twinemanzi Tumubweine – has said. While addressing bankers during …
Read More »Kituuka is new Equity Bank Uganda MD
Kampala, Uganda | THE INDEPENDENT | Equity Bank Uganda Limited has announced the appointment of Anthony Kituuka as the new Managing Director with immediate effect. The announcement, which was made by the Board of Directors, follows the promotion of Samuel Kirubi who was the Managing Director to the position …
Read More »Ugandan businesses should join Centenary in Malawi
COMMENT | Denis Jjuuko – #OutToLunch | In early 1983, the Catholic Church in Uganda set up a scheme that targeted the majority of Ugandans — folks in rural areas, the majority of which were unbanked. Ten years later, the scheme turned into a commercial bank that still largely caters …
Read More »Equity launches high-tech contact centre in Kampala
Kampala, Uganda | THE INDEPENDENT | As one of the strategies to further improve customer experience and deliver services to its customers conveniently, Equity bank has launched a high-tech contact centre. The new Contact Centre will allow the Bank to deliver improved support conveniently to the nearly 1.6 million customers 24/7. …
Read More »ICT Minister Kabbyanga hails Ugandan innovators as he launches Xente Visa Business Cards
Xente Launches Visa Business Cards in Partnership with Visa Kampala, Uganda | LOUIS JADWONG | Godfrey Kabbyanga Baluku, State Minister for ICT and National Guidance, has said that by Xente attracting a partnership with Visa – the world’s leader in digital payments – Ugandan innovators have shown they can have an …
Read More »Absa Group 2022 interim earnings increase 27%
Absa Group operations demonstrating continued strong recovery Johannesburg, South Africa | THE INDEPENDENT | Absa Group headline earnings increased 27% to Rands 11 billion in the first half of the year as revenue increased, demonstrating a continued strong recovery from the global economic downturn in 2020. Absa reported solid pre-prevision …
Read More »Banks target selected sectors amidst growing economic crisis
Kampala, Uganda | THE INDEPENDENT | The banking industry is worried over the rate at which the cost of living in Uganda is rising threatening the recovery of the economy. The Uganda Bureau of Statistics reports that headline inflation steadily increased to 6.8 per cent at the end of June, from …
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