The ministry of Finance has said Uganda’s economy has remained stable and has not experienced the inflationary spikes that have traditionally characterised past election cycles. Dr Ramathan Ggoobi, the Permanent Secretary and Secretary to the Treasury, attributed this stability to long-term economic reforms that have strengthened fiscal discipline, monetary policy, and macroeconomic management. Speaking on…
Africa PR Week, the continent’s leading platform for public relations and strategic communications professionals, has named Stanbic Bank Uganda’s Kenneth Agutamba among the Top 100 Corporate Communication Leaders in Africa. The recognition, announced during Africa PR Week in Nairobi, places Agutamba among a select group of practitioners shaping how African organisations manage reputation, navigate complexity,…
John Fred Kiyimba Freeman’s appointment as chairperson of the Mengo Chamber of Commerce has been largely welcomed within Buganda’s business community. For many, the decision reflects a preference for steady, experienced leadership at a time when economic pressures are weighing heavily on traders and producers. Kiyimba is a long-established Kampala businessman known for his involvement…
Uganda has been racing to bring its oil and gas fields into commercial production, a long-awaited milestone that could propel it onto a path of double-digit economic growth from 2026. Oil and gas development is one of four strategic pillars underpinning Uganda’s long-term development plan to expand the economy tenfold — from about $ 50…
dfcu Bank has reaffirmed its commitment to improving customer experience and ensuring long term competitiveness through digital integration, digital transformation and the strengthening of its digital infrastructure. The bank’s chief executive officer, Charles Mudiwa, said upgrading core systems was essential to making dfcu future ready and better equipped to meet the evolving needs of its…
Uganda Development Bank (UDB) has graduated a new cohort of small and medium-sized enterprises in Mbarara district under its Enterprise Development Programme (EDP), equipping them with skills to become investor-ready. Through business advisory services, the state-owned development bank prepares both start-ups and established enterprises to access financing from financial institutions and sustain their operations. The…
Uganda’s economy is forecast to expand by 10.4% by the end of the 2026/2027 financial year, up from an estimated 6.6% at the end of the 2025/2026 financial year. The Ministry of Finance, Planning, and Economic Development released a five-year National Budget Framework Paper last week, which indicates that the commencement of oil production will…
The government has tabled the National Budget Framework Paper (NBFP) for FY 2025/2026 – FY 2030/2031, highlighting commercial agriculture, industrialisation, oil and gas, tourism, and technological innovation as the main focus. The NBFP theme: “Full Monetization of Uganda’s Economy through Commercial Agriculture, Industrialization, Expanded Social Services, Digital Transformation, and Market Access,” marks a strategic pivot…
Diamond Trust Bank Uganda has launched a new digital loan facility aimed at easing the cost of education for thousands of families, in a move the bank says will help keep more children in school. The DTB Furaha School Fees Loan, introduced in partnership with Furaha Finserve Uganda, allows parents to access instant credit that…
The Stanbic Business Incubator Limited (SBIL) has concluded training for the first cohort of the Green Businesses and Jobs for the Green Transformation Project, a flagship initiative that supports women-led enterprises promoting environmental sustainability. More than 32 women-led green businesses pitched their transformative ideas, outlining how they plan to strengthen their capacity to access finance,…
The Bank of Uganda has paid tribute to former governor Dr Emmanuel Tumusiime Mutebile, celebrating his legacy as one of the country’s most influential economic reformers at this year’s memorial lecture held at Makerere University. The event drew several dignitaries from government, academia and the business community. Those in attendance included the current Bank of…
Small and medium-sized enterprises (SMEs) have decried the growing challenges they face in Uganda’s push towards a digital economy, saying the cost of technology and gaps in digital skills continue to hold them back. Uganda has, in recent years, promoted digital transformation as a key driver of economic growth. Yet SMEs, which account for about…
MTN Mobile Money (U) Limited, in partnership with Letshego Uganda and dfcu Bank, has launched two new loan products designed to give mobile money agents instant access to working capital. The products, the dfcu Bank Weekend Agent Loan and the Letshego Agent Loan Float, expand the MoMo Agent Loans Marketplace and align with MTN’s Power…
By Brenda Nagudi Over the past decade, Uganda’s insurance industry has undergone a quiet but profound transformation. What was once a small, misunderstood sector is now a growing pillar of financial stability for households, businesses, and the wider economy. Between 2014 and 2024, gross written premiums more than doubled, reaching about Shs 1.76 trillion in…
Stanbic Bank Uganda has announced a scholarship programme aimed at motivating Uganda’s digital creators ahead of the Stanbic Ongea Digital Creators Summit 2025, which will take place on December 11, 2025. The bank said the initiative is part of its wider support for the government’s digital transformation agenda, which seeks to drive economic growth by…
The Uganda Development Bank (UDB), the state-owned development finance institution, has opened a regional office in Hoima City to serve the mid-western region and the Albertine area. The office, located at Plot 5 Kyaruhanga Road, will act as a liaison point for districts including Kagadi, Kakumiro, Kibaale, Kikuube, Kiryandongo, Masindi, Hoima, and Buliisa. UDB says…
Kuku Foods Uganda, the parent company of KFC restaurants in Uganda, has raised concern over what it describes as a high-handed and intrusive tax raid carried out by the Uganda Revenue Authority (URA). In a protest letter dated November 20, 2025, and addressed to the URA Commissioner General, John Musinguzi, KFC says the operation violated…
Diamond Trust Bank (DTB) Uganda has won the Sport Award of the Year at the inaugural annual Bankers’ Awards held in Kampala on 20 November. The ceremony, organised by the Uganda Bankers’ Association in partnership with the Uganda Institute of Banking and Financial Services, took place at the Mestil Hotel and recognised excellence across Uganda’s…
The High Court has set December 11, 2025 as the hearing date in a case filed by traders seeking compensation from businessman Hamis Kiggundu, the developer of Nakivubo Channel, after their businesses were destroyed by flooding. In early November, several traders around the Nakivubo Channel lost goods worth millions of shillings when their shops were…
If Stanbic Bank Uganda were a person, it would be a 35-year-old Ugandan. Born in 1991, raised in a country finding its economic feet, shaped by hardship and opportunity, and determined to keep pushing forward. Its journey looks a lot like the life path of many Ugandans who share that same birth year. Early days…
Ugandan coffee exporters secured deals $ 3 million ( at the recently concluded China International Import Expo (CIIE) in Shanghai, the ministry of Agriculture has said. Uganda’s top coffee exporters, such as Meg Rai Coffee, Kwezi Coffee, Inspire Africa, and Elgon Coffee, showcased their products at the expo and held one-on-one meetings with Chinese buyers,…
The minister of state for Microfinance, Haruna Kasolo Kyeyune, has commended Stanbic Bank Uganda for its innovative FlexiPay platform, saying it has significantly advanced the country’s financial inclusion agenda. Speaking during the 3rd National Microfinance and Savings Group Conference at Hotel Africana, Kasolo said FlexiPay has become a key driver in bridging the gap between…
The National Information Technology Authority–Uganda (NITA-U), in collaboration with the Personal Data Protection Office (PDPO), has trained more than 50 journalists from print, radio, television and online media houses on cybersecurity, data protection and privacy. The engagement, held at the National ICT Innovation Hub in Nakawa, aimed to strengthen the media’s capacity to report accurately…
Traders in downtown Kampala have dragged businessman Hamis Kiggundu, the Kampala Capital City Authority (KCCA), and the National Environment Management Authority (NEMA) to court, seeking justice and compensation for businesses destroyed by heavy rains last Friday. Through their lawyer, Kalule Mpologoma of Luzige, Lubaga, Kavuma & Co. Advocates, the traders want the court to urgently…
Ugandan investment banker Anne Aliker has been appointed Head of Africa Regions, Corporate and Investment Banking (CIB) at Standard Bank Group, Africa’s largest bank by assets. Announcing the appointment, Luvuyo Masinda, Chief Executive of CIB at Standard Bank Group, said Aliker brings a wealth of experience and a strong record of leadership. “Anne has led…
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…
