Stanbic East Africa Business Summit kicks off in Kampala

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…

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UMA seeks policy changes to boost local, cross-border trade

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…

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DFCU Bank urges farmers to leverage favourable climate for agricultural growth

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…

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French Embassy, Stanbic Business Incubator join forces to boost Uganda’s green economy

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…

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UDB wins global sustainability award

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…

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People Brand House convenes dialogue to enhance corporate leadership, business growth

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…

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‘Court will determine’, Centenary Bank tells public over claims that Shs 300 million ‘vanished’ from customer’s account

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…

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Court gives Centenary Bank 14 days to explain how Shs 300 million vanished from the account of their deceased employee

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…

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UEDCL connects 640,000 new customers in six months as complaints of power outages rise

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…

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Bailiffs wanted Shs1.2 billion for shifting DFCU’s desks from former Crane Bank branches. A judge said “no”

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…

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URA offers defaulters final tax amnesty to boost compliance, revenue

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…

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Stanbic Bank calls for bold investment to unlock Uganda’s youth potential

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…

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President Museveni commits to partnering with Kenyan investors for key infrastructure development

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…

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Standard Bank re-assigns Patrick Mweheire and Francis Karuhanga: Why now?

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…

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Advancing Africa’s structural transformation for economic resilience in an era of global shocks

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…

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Museveni commissions Wagagai Gold Mining Project

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….

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PM Nabbanja, Nakalema woo American, Indian investors

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,…

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Stanbic Bank, Afrigo Band donate Shs 20 million to Uganda Cancer Institute

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…

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Museveni woos Egyptian investors 

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…

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Bitature gets new lease of life in Shs 36 bn debt repayment case with South African firm

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…

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EAC unveils customs bond to boost trade

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…

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