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….
Dr. Alan Shonubi, one of Uganda’s well-known lawyers, has been ordered by the High Court to facilitate the refund of Shs 100 million to Sal Oil Limited after a land deal went sour. The ruling, delivered on August 15, 2025, stems from a 2019 agreement where Sal Oil tried to buy a plot in Mbale…
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…
The High Court (Commerical Division) has given businessman Kennedy Losuk, 60 days to deposit Shs 10 billion in Equity Bank or have his properties, including Emin Pasha Hotel in Nakasero, sold off. The 60 days end on October 10, 2025. A couple of years ago, the owner of the hotel, Kennedy Losuk, borrowed billions from…
The Court of Appeal has temporarily stopped proceedings in a High Court arbitration case involving Simba Properties Investment Co. Ltd and Vantage Mezzanine Fund II Partnership. Simba Properies Investment Co. Ltd is owned by businessman, Patrick Bitature. The decision, made by Justice Oscar Kihika, pauses High Court Arbitration Case until an application for leave to…
Airtel Money Uganda has teamed up with SchoolPay and Sanlam Investments to introduce SchoolPay Savings, a new way for parents to save for their children’s school fees. This service aims to make paying school fees easier and less stressful for families across Uganda. SchoolPay Savings lets parents save small amounts starting from just Shs 5,000…
The High Court has ordered car dealer Yassah Matovu to refund tycoon, Mutaasa Kafeero, Shs 300 million after he supplied him with a Range Rover that did not match the description in the contract. The ruling was delivered at the end of last month. Through his lawyers Muwema and Company Advocates, Kafeero sued Matovu last…
In 2010, I developed a desire to set up a hotel. Tourists were my target because we neighbor Murchison Falls National Park. I realised my dream when I set up a small hotel. In 2016, those bad liars from the oil sector made a big crusade in Buliisa. They told us, ‘People of Buliisa, build…
The East African Community (EAC) has officially launched the EACBond, a groundbreaking regional customs guarantee instrument designed to streamline the movement of goods across member states. Unveiled Monday in Kampala, the EACBond replaces multiple national customs bonds with one unified system, allowing traders to secure their cargo journey under a single guarantee. The EAC said…
President Museveni has announced that the government will purchase the Mayuge Sugar Factory for Busoga sugarcane farmers. Museveni made the announcement while meeting sugarcane growers, millers, and sugar manufacturers from across Uganda at Kityerera State Lodge, Mayuge, on August 6. During the meeting, the farmers gave the government a green light to go into purchase…
The East African Crude Oil Pipeline (EACOP) has signed a Memorandum of Understanding (MoU) with Rotary to advance environmental sustainability through the EACOP Green Schools Initiative. The agreement, formalized in Kampala, establishes a collaborative framework to promote environmental stewardship in schools along the 1,443km pipeline route, spanning districts such as Hoima, Kikubbe, Kakumiro, Mubende, Kyankwanzi,…
Arnold Anderson Katongole Once considered a subject too abstract or too elite for young people, philanthropy has experienced a transformation in Uganda. Until only a few years ago, any effort to involve youth in such discussions would likely have been met with blank stares, not because of indifference, but due to a lack of direction…
Atkins Godfrey Katusabe, the MP for Bukonzo West in Kasese district, has won a legal battle against telecom giant, MTN, after it deactivated his simcard due to what it called discrepancies in his indentification documents. Katusabe is the husband to Sarah Opendi, the vocal woman MP for Tororo. Justice David S.L. Makumbi of the High…
The East African Community (EAC) faces a daunting $42 billion annual infrastructure deficit, stalling progress in transportation, energy, and communication systems critical for regional integration and economic growth. To address this, Standard Bank Group affiliates—Stanbic Bank Kenya, Stanbic Bank Uganda, and Stanbic Bank Tanzania—recently convened the 2025 East Africa Institutional Investors Forum in Arusha, Tanzania,…
The Arab Bank for Economic Development in Africa (BADEA) and Uganda have signed two Facility Agreements totaling $150 million to drive private sector development. The agreements were formalized by BADEA president Abdullah Almusabeeh and Matia Kasaija, the minister for Finance, Planning and Economic Development, during the 41st board of governors meeting of the Trade and…
Government has recognized Stanbic Bank for its transformative impact on the remittance sector, as highlighted during the 8th Annual Uganda Bankers Association Conference in Kampala. The bank’s digital innovations, particularly the Flexipay platform, have enhanced the efficiency, accessibility, and affordability of remittance services, supporting Uganda’s diaspora and their families. In his address, Dr. Atingi-Ego, the…
Stanbic Uganda Holdings Limited (SHUL) spent Shs 565 billion in 2024 to keep its employees happy and maintain the smooth running of its operations, the company’s annual financial statements for the year that ended December 31, 2024, show. According to the records, SHUL, which includes Stanbic Bank Uganda and other subsidiaries, spent Shs 281 billion…
Presidents Museveni of Uganda and William Ruto of Kenya have signed seven new bilateral agreements, increasing the total number of trade and cooperation accords between the two East African neighbors to 25. The agreements, signed during Museveni’s visit to Nairobi, cover diverse sectors including tourism, property rights, fisheries, aquaculture, agriculture, transport, and investment promotion. At…
The Directors and management of Stanbic Holdings Uganda Limited (SHUL), the umbrella company of Stanbic Bank Uganda, have protested after Uganda Revenue Authority (URA) slapped the company a tax bill of Shs 133.7 billion. This includes a tax of Shs 33.8 billion to be paid by Stanbic Bank Uganda. This partiuclar tax bill is related…
Airtel’s East Africa operations have reported significant growth in the first quarter of 2025, propelled by a sharp rise in data consumption, an expanding customer base, and substantial investments in network infrastructure. Mobile services revenue reached $498 million, a notable increase from $423 million in Q1 2024, driven by a 47.4% surge in data usage…
The building that houses Club Guvnor, located on 1st Street in the Industrial Area, could be sold any time soon, a source close to businessman Charlie Lubega, the owner, has told Bbeg Media. Our source informed us that Lubega told close associates that, since the club business in Uganda has declined, he does not see…
Motorcycle-taxis are one of the fastest and most convenient ways to get around Uganda’s congested capital, Kampala. But they are also the most dangerous. Though they account for one-third of public transport trips taking place within the city, police reports suggest motorcycles were involved in 80% of all road-crash deaths registered in Kampala in 2023….
Stanbic Bank Uganda has been named Best Bank and Best Investment Bank in Uganda at the 2025 Euromoney Awards for Excellence, solidifying its position as the country’s leading financial institution. These prestigious awards highlight the bank’s dominance in retail, commercial, and corporate banking, and its pivotal role in advancing Uganda’s economic transformation. The Euromoney Awards,…
MTN Group has taken a significant step toward its Ambition 2025 strategy, by agreeing to separate its moible money unit from its GSM operations. The decision was taken during during an extra-ordinary general meeting of its shareholders this week. The compnay said the move aims to enhance scale, efficiency, and customer service delivery across MTN’s…
The High Court (Commercial Division) has dismissed a lawsuit by Simbamanyo Estates against Equity Bank (U) Ltd, Equity Bank Ltd (Kenya) challenging the sale of its properties due to loan default. In 2020, Equity Bank (Uganda) sold Simbamanyo House to businessman Sudhir Ruparelia due to the failure by Simbamanyo Estates to clear a loan of…
Tension and excitement are building as eight outstanding schools from across Uganda gear up for the grand finale of the Stanbic National Schools Championship (NSC) 2025, known as the Battle of Champions, happening on August 29 at Mestil Hotel in Kampala. This year marks a decade of the competition, which has evolved into a vital…
A new study by the Africa Institute for Energy Governance (AFIEGO) has revealed significant concerns among Uganda’s tourism sector stakeholders about the impact of the country’s oil and gas industry on their livelihoods. The community-based research, conducted with 66 participants including tour operators, guides, travel agents, drivers, hotel workers, and food service providers, also unearthed…
Businessman Amos Nzeyi has prevailed against the Uganda Revenue Authority (URA) in a dispute over a Shs 1.82 billion tax assessment on income from the sale of land. In a ruling, the Tax Appeals Tribunal declared that the land sold by Nzeyi was not a business asset and is therefore exempt from income tax. The…
This year’s highly anticipated Legends of Sound Afrigo at 50 is expected to attract thousands of people to celebrate the music of Uganda’s most enduring and popular band. Speaking during a news conference, Aly Allibhai the CEO of Talent Africa Group, said unlike the previous two editions that happened at the Sheraton Kampala Hotel, the…
The Supreme Court has ordered Vivo Energy to pay Thalion International Limited Shs 8.5 billion in profits following a decades-long dispute over a property on Plot 49 Benedicto Kiwanuka Street. The case originated from a 1972 agreement between Hasanali Nathu Limited (HNL) and Shell and BP Uganda Ltd, predecessors to Thalion and Vivo Energy respectively….
Morrison Rwakakamba Having campaigned under the banner of making the United States the “Crypto capital” of the world, in his first week in office, President Donald Trump signed an Executive Order intended to support the growth of the United States crypto industry, signaling an intention to approach crypto and block chain regulation with the objective…
One of the bitterest episodes in tycoon Sudhir Ruparelia’s storied business life is the way he lost Crane Bank Limited to DFCU in January 2017. Bank of Uganda determined that Crane Bank was undercapitalized, opening the way for DFCU to take it over at a cost of Shs 200 billion. Crane Bank was the crown…
The deceased former secretary to the Treasury, Keith Muhakanizi, owns a 0.20% stake in DFCU Limited, making him the third largest individual shareholder in one of Uganda’s leading financial institutions. Only Sudhir Ruparelia (0.29%) and businessman Rakesh Gadani (0.26%) owned more individual shares in the institution than Muhakanizi, according to the bank’s annual report for…
DFCU Bank yesterday announced a profit after tax of Shs 72.1 billion for the financial year 2023/2024, turning a crucial corner as it recovers from the economic shocks of Covid-19. Speaking at the 60th Annual General Meeting held at Hotel Africana in Kampala, Jimmy Mugerwa, DFCU’s board cahirman reassured shareholders of the bank’s commitment to…
Uganda’s economy demonstrated strong performance in May 2025, with significant growth in GDP, exports, and private sector activity, according to the State of the economy report for May. The report, compiled by the ministry of Finance and Economic Development, highlights a 6.3% real GDP growth for the fiscal year 2024/25, alongside improvements in trade balances…
Crypto.com, one of the earliest players in the crypto space, has struck a deal with Emirates, one of the world’s most renowned airlines, in a bid to bring crypto payments to mainstream global travel, according to a press release issued on Wednesday. As part of a Memorandum of Understanding (MoU) signed on July 9, the…
The minister of Energy, Ruth Nankabirwa, has lauded the achievements made by the Uganda Electricity Distribution Company Limited (UEDCL), 100 days after taking over the distribution of electricity in the country. UEDCL took over from Umeme on April 1, 2025. A key achievement, Nankabirwa told journalists today, is the company’s ability to pay 100% of…
A comprehensive report from the Ministry of Finance, Planning and Economic Development has revealed significant challenges plaguing Uganda’s externally funded projects. Spanning sectors like agriculture, infrastructure, health, and education, the report highlights delays, funding shortfalls, and implementation constraints affecting critical development initiatives. The report details issues across numerous projects, including the Uganda Digital Acceleration Project,…
