For three years, Aravind Musunuru, the former managing director of Construction and Farm Equipment has been on the run. What is strange is that around the time Musunuru went missing, the company suspiciously lost money and spare parts from its stores. We have been told that billions of shillings disappeared from the company accounts under…
Nokia’s journey started in 1865 as a paper mill. By the mid-20th century, it diversified into cables, rubber, and electronics. Its big break came in the 1980s when it entered the mobile communications market. Tasked by the Finnish government to research military radio technology during the Cold War, Nokia gained expertise in communication systems. By…
Airtel Uganda will pay out an interim dividend of Shs 83 billion to its shareholders this year The dividend was approved by the company’s board of directors on November 22, 2024. Each shareholder will earn Shs 2.075 per share. The payout is expected to be completed by January 3, 2025. The telecom company said the…
Stanbic Bank Uganda has appointed Kenneth Mumba Kalifungwa as its new chief executive officer. Kalifungwa will officially take over the role on March 1, 2025, according to a statement from the bank. He previously served in the same role at Absa Bank Uganda. Kalifungwa will replace Anne Juuko who left the role in March 2024….
Umeme, Uganda’s main electricity distribution and billing company, has announced that for two days (Sunday, December 8 and Monday, December 9), the Yaka vending system will be off to enable the firm to carry out a systems upgrade. This means that on those days, customers will not be able to purchase and upload their Yaka…
At least 130 youths in Eastern Uganda have attained digital literacy skills thanks to MTN Foundation. The graduation ceremony held at MTAC Mbale campus highlights MTN’s commitment to fostering digital inclusion and providing economic opportunities for young Ugandans. Notably, 54% of the graduates were women, reflecting MTN’s focus on promoting gender equity in technology and…
Patricia Ojangole, the managing director of Uganda Development Bank (UDB), has, for the fourth year running, won the Sustainability Leader of the Year Award at the Annual Karlsruhe Sustainable Finance Awards in Germany. UDB and Ojangole were awarded the Sustainability Leader of the Year Award for “demonstrating exceptional leadership in mainstreaming sustainability and making a…
Stanbic Bank has awarded 97 agent bankers countrywide who met their transaction targets for the last back-to-school period of 2024 in the concluding Oli Sorted campaign. The bank has so far handed out rewards worth totaling Shs 50 million since mid-year. Albert Yiga, Head of Stanbic Education Sector at Stanbic Bank said the campaign encompasses…
Stanbic Bank Uganda has announced an increase in its unsecured loan offering to Savings and Credit Cooperative Organizations (SACCOs) from Shs 200 million to Shs 4 billion, attained at an interest rate of only 10%. This bold step was unveiled during the bank’s SACCOs Forum, recently hosted at Onomo Hotel in Kampala. Francis Karuhanga, the…
Baku, Azerbaijan: Uganda has been lauded for the pioneering and visionary strides that the country has made in green financing necessary to slow the adverse impact of climate change. The country’s progressive policy environment and government’s efforts in extending patient capital to private enterprises in areas of low carbon industrialization, green manufacturing and climate resilient…
