Pearl Bank Uganda, formerly PostBank and Stanbic Bank Uganda, have partnered and integrated their digital wallets, Wendi and FlexiPay, to enhance financial inclusion across the country. This collaboration, which prioritises cooperation over competition, will enable seamless transactions at reduced fees for over one million users of both platforms, making financial services more accessible and affordable….
Uganda will receive more than $2 billion in new concessional financing from the World Bank over the next three financial years to support its development agenda. Ramathan Ggoobi, permanent secretary and secretary to the Treasury at the Ministry of Finance, Planning, and Economic Development, said the financing is part of renewed World Bank support to…
Ronald Makata, Stanbic Bank Uganda’s Chief Finance and Value Management Officer, emerged as the standout achiever at the 9th Uganda CFO Awards 2025. Makata distinguished himself with three prestigious accolades: top honours in Compliance and Governance, Finance Transformation and Technology, and First Runner-Up for CFO of the Year. Organised jointly by Deloitte Uganda and ACCA…
Uganda and Somalia on Wednesday signed three new memoranda of understanding (MoUs) to strengthen bilateral cooperation in key sectors. The agreements were signed in Kampala during the second Joint Permanent Commission meeting between the two countries, covering security, education and sports, immigration, and labor. Officials said the new pacts are expected to bolster regional trade,…
Small and Medium Enterprises (SMEs) in Uganda have been advised to keep a cash buffer to tackle unexpected challenges, according to Grace Semakula, chief executive of SBG Securities. Speaking at the October Masterclass hosted by Stanbic Business Incubator Limited (SBIL), themed: “Benefits of Investing in Unit Trusts for SMEs and Individual Investors,” Semakula shared strategies…
More than 400 business leaders, policymakers, investors, and regional integration experts have gathered in Kampala for the 3rd Stanbic East Africa Business Summit, a platform focused on unlocking East Africa’s economic potential through trade, investment, and collaboration. Hosted by Stanbic Bank Uganda and the Standard Bank Group, the two-day event is centered on the theme…
The chairperson of the Uganda Manufacturers Association (UMA), Aga Ssekalala Jr., has urged the government to address challenges hindering manufacturers’ access to markets, both locally and internationally. He made the plea at the official opening of the 31st Uganda International Trade Fair, held at Lugogo. He said the restrictive bilateral agreements limit market access for…
The Uganda Electricity Distribution Company Limited (UEDCL) has recorded a 10% surge in electricity demand over the past few months it has been in charge of distributing power. Ruth Nankabirwa, the minister of Energy, attributed this increase to growing demand from the public, with 140,000 new customers registered during this period. She said the rise…
The private sector continued its upward trajectory in September, driven by strong consumer demand and a sustained rise in new orders, according to the latest Stanbic Purchasing Managers’ Index (PMI). The headline PMI rose to 54.0 from 53.3 in August, marking the eighth consecutive month of improved business conditions. Readings above 50.0 indicate expansion compared…
DFCU Bank has called on Ugandan farmers to capitalise on the country’s favourable climatic conditions to advance the agricultural and livestock sectors. Speaking at the 2024 Uganda Best Farmers Awards ceremony held at the bank’s headquarters in Nakasero, Charles Mudiwa, the bank’s managing director wondered why farmers struggle to utilise the abundant water resources, fertile…
The Stanbic Business Incubator Limited (SBIL) has partnered with the French Embassy in Uganda to launch a transformative Green Tech Incubator and Accelerator for Entrepreneurship Programme, aimed at empowering young people and women in Kampala and the Albertine Region. The initiative, formalised through a grant agreement signed at the French Embassy in Kampala, seeks to…
The Uganda Development Bank (UDB) has been honoured with the outstanding Business Sustainability Achievement Award at the Karlsruhe Sustainable Finance Awards 2025, held during the Global Sustainable Finance Conference (GSFC) in Karlsruhe, Germany. The GSFC is a premier global platform dedicated to advancing practical, implementation-focused solutions for sustainable banking and finance, distinguishing itself from broader…
DFCU Bank has expanded its presence in Western Uganda with the launch of its 55th branch in Fort Portal, aiming to enhance financial inclusion and support local businesses in the region. The new branch, situated along Babiiha Road, was officially opened on 24 September 2025. The bank said it is designed to serve communities across…
Senior managers and chief executive officers from various corporate companies yesterday convened at the multisectoral leadership dialogue at Hotel Protea in Kampala to address challenges faced by their organisations and chart a path forward. The dialogue was organised by the People Brand House, a management consulting firm that collaborates with business leaders and the society at…
After eight remarkable years, Daniel Ogong, the creative force behind Stanbic Bank Uganda’s trusted brand, is stepping down as Head of Brand and Marketing on October 1, 2025. His departure marks the end of an era for the bank, where he turned ideas into campaigns that touched the hearts of Ugandans. For those who interacted…
Centenary Bank has issued a statement respoding to a news report by Bbeg Media over the Shs 310 million that reportedly vanished from the account of their deceased employee, Resty Mutima. In the statement, the bank said it is aware of the claims regarding funds that vanished from the estate account arguing that they were…
The High Court has granted Centenary Bank 14 days to to defend itself in a lawsuit accusing it of fraudulently withdrawing over Shs 310 million from the estate account of a deceased employee. The case stems from the death of Resty Mutima, a former bank employee. Her father, Gabriel Musisi, who was appointed administrator of…
The Uganda Electricity Distribution Company Limited (UEDCL) has reported adding more than 640,000 new connections to the national grid in the six months since it assumed control from private operator Umeme in April 2025. UEDCL’s managing director, Paul Mwesigwa, revealed that the number of connections has risen from 1,782,085 to 2,430,489, marking an increase of…
The High Court has temporarily halted the enforcement of over Shs 1.2 billion in costs awarded to court bailiffs in a protracted property dispute between DFCU Bank Limited and Meera Investments Limited. The ruling by Justice Olive Kazaarwe Mukwaya grants interim relief to DFCU Bank pending the resolution of broader appeals. The case originates from…
The Uganda Revenue Authority’s (URA) announced a blanket amnesty for taxpayers with arrears a move that some say signals a strategic shift toward fostering voluntary compliance and easing financial burdens on businesses still recovering from the COVID-19 pandemic. The URA’s move comes as Uganda grapples with uneven revenue collection. According to official figures, domestic tax…
Airtel Uganda posted impressive results for the first half of 2025, showing how the company is riding the wave of digital demand while navigating challenges like falling voice call revenues. From the results, the telecom firm’s financial position as of June 30, 2025, reveals a healthier balance sheet with more cash on hand and less…
The private sector continued its upward trajectory in August, marking seven consecutive months of expansion, according to the latest Stanbic Bank Purchasing Managers’ Index (PMI). The headline PMI registered at 53.3, slightly down from 53.6 in July, but still signalling robust growth as it remained above the 50.0 threshold that indicates improving business conditions. The…
A seismic shift is underway in Uganda’s telecommunications sector, with data usage surpassing traditional voice calls as the preferred mode of communication, according to Airtel Uganda’s latest financial results. For the half-year period ending June 30, 2025, Airtel reported a 30.4% surge in data revenue, reaching Ushs 525.7 billion and accounting for nearly half of…
Stanbic Bank Uganda hosted its third annual financial literacy session for its clients’ children, a dynamic initiative aimed at equipping young Ugandans with essential financial skills to manage wealth responsibly. The event, held over the weekend in Kampala, brought together nearly 100 participants aged 10 to 20 for an engaging programme covering budgeting, saving, investing,…
After nearly three decades as the king of pay TV in Uganda, MultiChoice Uganda is stepping aside. The South African company, best known for its popular DStv and GOtv services, has been the go-to for Ugandans wanting premium entertainment since it started operations here in 1995. But now, French media powerhouse Groupe Canal+ is set…
Stanbic Bank Uganda has launched an enhanced SupaDupa Campaign, extending the repayment period for unsecured commercial loans from 84 to 120 months, a move aimed at easing financial burdens and promoting inclusivity for Ugandans. The announcement was made during a press conference in Kampala. Israel Arinaitwe, Head of Personal Banking at Stanbic, emphasized that the…
City traders plan to take businessman Tom Kitandwe to court over alleged violations of their rights. Traders in buildings owned by Kitandwe including Galiraaya, Grand Corner, and Gazaland accuse him of forcibly increasing rent by up to 10%, as well as raising electricity and security fees, which they deem unnecessary. In response, the traders have…
In March, the Tax Appeals Tribunal rejected a request by Kuku Foods Uganda Limited, the company behind the KFC fast-food chain in Uganda, to halt the Uganda Revenue Authority (URA) from collecting Shs 4.2 billion worth of taxes until their tax dispute is resolved. The tribunal dismissed the application, ordering Kuku Foods to pay costs,…
Stanbic Bank Uganda has called for aggressive investment in entrepreneurship and innovation to address the country’s youth unemployment crisis. The bank made the call during the Investor Roundtable Summit hosted by the Makerere University Alumna Association. The event, themed “Exploring Opportunities for Entrepreneurship, Innovation and Value Creation for Accelerated Socio-Economic Integration and Development of Sub-Saharan…
The PPDA Appeals Tribunal has dismissed a case challenging Uganda Revenue Authority’s (URA) decision to rent office space in tycoon Sudhir Ruparelia’s new building, Pearl Tower One, at Shs 18. 7 billion over a period of three years. The decision had been challenged by Twed Property Development Limited (TWED), which had also put in a…
Dr. Patricia Ojangole, the managing director of Uganda Development Bank (UDB), has urged the government to support the scaling up of national development banks like UDB if they are to make a real impact in the lives of the people. Ojangole was speaking on the second day of the Uganda Development Finance Summit organised by…
Preparations for the 2025 Uganda Manufacturers Association (UMA) Expo have been officially launched today with a call for local manufacturers to be innovative. The function was presided over by the minister for Science, Technology, and Innovation, Dr. Monica Musenero. The annual exhibition, which will take place from October 2 to October 12 is expected to…
President Museveni has said economic development in Africa has been hampered by leaders who lack vision and who have no integrity. Museveni made the remarks at Speke Resort Munyonyo while officially opening the Uganda Development Finance Summit organised by Uganda Development Bank (UDB). “Africa is 250 years behind Europe because most of the leaders neither…
A first year student at Kampala International University (KIU) has been given an unexpected financial boost after winning a cash prize in Stanbic Bank’s ongoing Kya Double with SupaDupa campaign. Daniella Muwanga Nantege, 20, who is pursuing course in Medicine and Surgery at the Ishaka campus, was announced as the latest winner after depositing money…
The Court of Appeal has dismissed an application by two companies, Simba Properties Investment Co. Ltd and Simba Telecom Ltd, to temporarily stop the sale of six properties they had mortgaged over a loan. The properties include Protea Skyz Hotel on Naguru hill. In a ruling last week, the court said it lacks the power…
President Museveni met with investors from Rebel Group, a Nairobi-based international consultancy and investment firm, at State House, Entebbe, yesterday, assuring them of Uganda’s commitment to collaborate on transformative infrastructure projects. Led by former US Ambassador to Kenya, Kyle McCarter, the delegation expressed keen interest in Uganda’s economic potential. Museveni welcomed their engagement and highlighted…
Standard Bank Group, the parent company of Stanbic Uganda, has today announced major leadership changes involving two Ugandan senior executives, Patrick Mweheire and Francis Karuhanga. In a statement, the bank said the changes highlight the bank’s trust in Ugandan talent to lead its operations across Africa. “These appointments mark a proud moment for Uganda’s representation…
By Bob Twinomugisha Africa’s structural transformation is progressing slowly, raising questions about why economic growth hasn’t shifted resources from low- to high-productivity sectors. Agriculture, employing over half of Africa’s workforce and contributing one-fifth of GDP, grows at a sluggish 0.37% annual total factor productivity, below the global 0.74%. Africa remains at the bottom of global…
The commercial division of the High Court has dismissed a lawsuit filed by Westwinds Trading Company Matco Ltd against Exim Bank (Uganda) Ltd. The judge ruled that the case was filed incorrectly under Ugandan law, and ordered Westwinds to pay the bank’s legal costs. The dispute started when Westwinds accused Exim Bank of wrongly transferring…
Between January and June 2025, Stanbic Uganda Holdings Limited (SUHL) made a profit of Shs 278 billion, up 18% from in the same period last year. It also paid Shs 273 billion in taxes, a 37% increase from Shs 198 billion in 2024. Francis Karuhanga, the CEO of Stanbic Uganda, said their success is not…
President Museveni has commissioned the Wagagai Gold Mining Project in Busia District, hailing it as a pivotal step toward ending the export of raw minerals and advancing Uganda’s commitment to value addition. During the event, President Museveni commended Wagagai Mining (U) Co., Ltd. for establishing a cutting-edge refinery capable of producing gold at 99.99% purity….
Prime Minister Robinah Nabbanja and Col. Edith Nakalema, head of the State House Investors Protection Unit (SHIPU), met with American and Indian investors in Kampala to explore trade and investment opportunities. The delegation represented sectors including agriculture, technology, housing, and finance. Nabbanja welcomed the investors, highlighting Uganda’s favorable investment climate, including a 10-year tax holiday,…
Stanbic Bank, in partnership with Afrigo Band, donated Shs 20 million in medical equipment and supplies to the Uganda Cancer Institute (UCI) to support cancer care. The donation included adult mattresses, colostomy bags, patient monitors, wheelchairs, chemo chairs, examination couches, hospital blankets, and food items. The contribution was made ahead of Afrigo Band’s 50th anniversary…
The minister of Finance, Matia Kasaija, has announced that the government will implement a tenfold growth strategy over the next 15 years, aiming to increase Uganda’s GDP from approximately $ 50 billion to $ 550 billion by 2040. This statement was delivered on his behalf by the state minister for Planning, Amos Lugoloobi, during the…
The Appeals Tribunal of the PPDA has dismissed a case brought by Goldstar Insurance against the Uganda National Oil Company (UNOC). The tribunal said in its ruling on August 12 that the insurance firm’s application was filed too late, making it invalid under the law. The case started from a dispute over a procurement process…
On Kampala Road, next to Crane Chambers, stands the gleaming Church House, a 16-story building that serves as the headquarters for the Church of Uganda. This iconic structure, completed in recent years, nearly slipped from the church’s grasp due to a massive loan from Equity Bank Uganda. Back in 2010, under the leadership of then…
Airtel Money has partnered with the Uganda Revenue Authority (URA) to simplify tax and fee payments for Ugandans. This new partnership allows people to pay taxes, renew passports, get business licenses, and settle other URA fees right from their mobile phones. “No more long queues or piles of paperwork,” said Japhet Aritho, Airtel Money’s managing…
I will start with a disclaimer: This is not your experience. It’s mine. Flying with Uganda Airlines on the Entebbe–Gatwick route was, quite simply, a pleasant surprise. The kind you want to tell everyone about. In an era when air travel often feels like an endurance test, this was a reminder that flying can still…
Uganda’s private sector continued its robust expansion in July 2025, driven by strong demand and new client wins, though rising input costs prompted firms to increase prices, according to the latest Stanbic Bank Purchasing Managers’ Index (PMI). The headline PMI registered at 53.6 in July, down slightly from 55.6 in June. Despite the dip, the…
President Museveni yesterday met and welcomed Egyptian investors to explore opportunities in Uganda, saying the country is ready to work with those bringing practical solutions and investments that can spur more development. Museveni is in Cairo, Egypt on a three-day working state visit at the invitation of his host and counterpart, Abdel Fattah El-Sisi. After…
