The Supreme Court has dismissed an application by Muhammad Kamoga, a property dealer, to stay his criminal prosecution for alleged forgery of land transfer forms, allowing the case to proceed in the Entebbe Chief Magistrate’s Court. The decision, delivered by Justice Monica K. Mugenyi, rejected claims that the prosecution would prejudice Kamoga’s pending civil suit…
Uganda’s private sector continued to experience improving business conditions in June 2025, marking the fifth consecutive month of expansion, according to the latest Stanbic Purchasing Managers’ Index (PMI). The PMI, compiled by S&P Global, dipped slightly to 55.6 from 56.4 in May but remained above the 50.0 threshold, signaling ongoing growth driven by increases in…
Uganda’s banking sector remains strong even when it is buffetted by several global challenges, the Bank of Uganda (BOU) Quarterly Financial Stability Review for March 2025 has revealed. The report notes that systemic risks have moderated, supported by strong domestic growth, low inflation, and BOU’s accommodative policies, although challenges like subdued private sector credit growth…
Uganda’s total electricity generation has reached 2,052 megawatts (MW) following the completion of the Chinese-built 600-MW Karuma Hydropower Plant, the minister of Energy Ruth Nankabirwa revealed yesterday. Nankabirwa told reporters that this marks a major milestone as the East African country works to secure affordable electricity to drive economic growth. The Karuma plant, financed by…
Huawei launched this year’s university job fair in Uganda, aiming to connect graduates with employment opportunities in the country’s information and communications technology (ICT) sector. The one-day event, dubbed the 2025 Campus Recruitment Program, was held at Kyambogo University, drawing hundreds of ICT students and recent graduates. It took place under the theme “The Sky…
Two years after the tragic death of Apollo Nyegamehe, popularly known as Aponye, a prominent businessman his once-thriving business empire is facing significant challenges, with key assets being sold to settle outstanding debts. The first building to go was Aponye City Mall on Burton Street in Kampala above the Old Taxi Park, which was snapped…
Nine Chinese hybrid goats, also known as Jianzhou big-eared goats, have arrived in Uganda to boost goat meat production and livestock industry. The goats — three males and six females — landed at Entebbe International Airport on the night June 30 after a journey of more than 10 hours from Chengdu, southwest China’s Sichuan Province….
Stanbic Bank has been recognized for its outstanding commitment to environmental sustainability after receiving the prestigious National Environment Management Authority (NEMA) Sustainability Award in the financial institutions category. Organized by NEMA, the awards acknowledge and reward organizations and individuals implementing innovative and impactful environmental initiatives. On behalf of the bank, Catherine Adengo, Head of Sustainability,…
Stanbic Bank has officially joined Kampala Restaurant Week 2025 as the official payment partner, bringing on board its innovative FlexiPay platform which offers, convenience, and exclusive rewards for one of the city’s most anticipated culinary events. The partnership underscores the bank’s ongoing commitment to supporting local industries while offering seamless digital payment solutions that elevate…
As much as the increasingly interconnectedness of the global economy presents valuable opportunities, it also exposes individual countries to significant risks, with emerging economies bearing the most brunt. The commodity price boom, the global financial crisis, the COVID-19 pandemic, and the Russia-Ukraine war provide cases of some of the global economic shocks that Africa has…
At Bayaya we market premium-quality coffee, ensuring that farmers uphold standards and earn sustainable incomes to support lasting livelihoods. Growing up in the rich highlands of Sironko in Eastern Uganda, Meridah Nandudu watched as coffee fueled the livelihoods of her community. Yet, behind the rich aroma of freshly harvested beans lay a stark of reality—many…
Uganda has overtaken Ethiopia to become Africa’s leading coffee exporter, according to a report released yesterday. In a statement issued by the Ministry of Agriculture, Animal Industry and Fisheries said the country exported 793,445 60-kg bags of coffee in May, earning $ 243 million. “Uganda’s coffee industry has reached a historic milestone. In May 2025,…
The Buganda Kingdom’s Powesa Sacco achieved a remarkable revenue growth, soaring from Shs 1.1 billion in 2023 to Shs 2.6 billion in 2024. The Sacco’s chairman of the board, Rashid Musisi Ssemanda, announced that this growth led to a significant rise in net profit, from Shs 23 million in 2023 to Shs 303 million in…
Stanbic Bank Uganda has announced the launch of a three-month nationwide campaign to boost its innovative digital payments platform, FlexiPay. The campaign dubbed the “Flexipay Cashback Explosion” kicked off at the offices of Boda Boda Banja, one of the bank’s key merchant partners in Kampala, with the goal of revolutionizing everyday transactions and accelerating digital…
Uganda Development Bank(UDB) announced a robust performance for 2024 registering a profit of Shs 57.8 billion. This marks a 16% increase from Shs 49.8 billion in 2023. During the release of the bank’s performance report yesterday, Dr. Patricia Ojangole, UDB’s managing director, emphasized the bank’s focus on resource efficiency and innovative funding to enhance its…
Uganda’s vanilla exports more than doubled in 2024, generating $16.6 million (approx Shs 60 billion) in revenue, authorities announced Tuesday. Uganda exported 604 metric tonnes of vanilla in 2024, up from 266 metric tonnes the previous year, said Fred Bwino Kyakulaga, minister of state for Agriculture at a press briefing in Kampala. “Vanilla has become…
The Ministry of Finance has unveiled a Shs72.136 trillion national budget for the 2025/2026 financial year, setting its sights on transforming every corner of the country into a hub of commercial activity. Presented by Finance Minister Matia Kasaija at the Kololo Ceremonial Grounds yesterday, the budget signals a strong shift towards full monetisation of Uganda’s…
Equity Bank Uganda, part of Equity Group, has launched a comprehensive staff audit to address unethical employee behaviour, Bbeg Media has learned. Sources told us that the bank that has 50 branches and hundreds of employees in Uganda, intends to tackle issues such as extortion, rudeness, negligence, and collusion with customers to defraud the institution….
Prudential Uganda has awarded Shs 135 million to the top five graduates of Makerere University’s Actuarial Science program as part of its ongoing efforts to grow actuarial talent in Uganda. The support is part of the Prudential Actuarial Support Scheme (PASS), launched in 2022 in partnership with Makerere University. The initiative recognizes academic excellence while…
Uganda is one of the countries most exposed to recent cuts in international aid, particularly with the dissolution of the US Agency for International Development (USAID). In 2023, about 5% of gross national income – a measure of a country’s total income, including income from foreign sources – was received in aid. The cuts have…
The Court of Appeal ruling last week that businessman Mohan Kiwanuka was mentally incapable of managing his business affairs could dramatically reshape the control of an empire spanning media, real estate, manufacturing, and logistics. Kiwanuka, 81, owns over 46 prime properties, 26 of which are in the upscale Kololo alone. The ruling followed a petition…
The Uganda Electricity Distribution Company Limited (UEDCL) has pledged to process all pending power applications from former UMEME customers to boost power connections across the country. Jonan Kiiza, spokesperson and head of corporate and stakeholder affairs at UEDCL, told Bbeg Media at his office in Nakasero that UEDCL wants to tackle the backlog of 27,729…
The Court of Appeal has ruled that businesman Mohan Musisi Kiwanuka has been suffering from Alzheimer’s disease and dementia since 2017, and is therefore incapable of managing his affairs. It has also ordered that the businessman convenes a family meeting within 30 days to appoint a manager of his estate. The meeting, court ordered should…
Renowned Indian spiritual leader Jayramgiri Bapu, the 14th successor of the historic 900-year-old Bujirat Temple in India, has arrived in Uganda for a five-day visit aimed at fostering bilateral cooperation in trade and tourism. The visit, which coincides with the annual Uganda Martyrs Day celebrations on June 3, underscores the growing ties between Uganda and…
Parliament has approved a government proposal to borrow up to €270 million (Shs 1.1 trillion) from the African Export-Import Bank (Afreximbank) and €230 million (Shs 940 billion) from Ecobank Uganda and the Development Bank of Southern Africa (DBSA) to finance the 2024/2025 national budget. This amounts to €500 million (Shs 2 trillion). The debate on…
Government today officially launched the National Budget Month for 2025/26, emphasizing its commitment to inclusive and transparent governance in public resource management. The launch, presided over by Matia Kasaija, the minister of Fiance, also introduced the National Public Investment Management (NPIM) Policy, a transformative framework aimed at revolutionizing Uganda’s public investment planning, implementation, and monitoring….
With less than a week to the Martyrs Day celebrations, business activity at both the Anglican Site and Catholic Shrine in Namugongo is experiencing a significant downturn compared to previous years. Bbeg Media visited the Anglican section of the shrine and observed a limited number of businesses, including catering services, retail shops, restaurants, and vendors…
Dr Patricia Ojangole, the managing director of Uganda Development Bank, has been appointed chairperson of the Association of African Development Finance Institutions (AADFI), the umbrella organization for development finance institutions in Africa. Dr. Ojangole’s appointment was announced during the 51st Ordinary General Assembly of AADFI, held on May 26, 2025, at the Sofitel Hotel Ivoire…
Damali Ssali has been appointed country director of Global Alliance for Improved Nutrition (GAIN) Uganda. The organisation’s mission is to improve the consumption of healthier diets for all, especially the most vulnerable, by improving the availability, affordability, desirability, and sustainability of nutritious and safe foods, and reducing the consumption of unhealthy and unsafe foods. Ssali,…
A delegation of Chinese investors is touring Uganda to establish business ties with local coffee farmers, as demand for the cash crop surges in China’s growing market. After visiting various coffee farms as well as farmers’ cooperatives in the eastern and western parts of the East African country, the visiting Chinese delegation, alongside officials from…
Quality Chemical Industries Limited (Qcil) has secured a $ 36 million (Shs 133 billion) debt facility from Stanbic Bank Uganda to construct a second manufacturing facility. The new facility will increase production capacity for Qcil’s existing portfolio and enable the company to expand into new therapeutic areas, including the production of injectable medications. Qcil, founded…
Uganda’s missions abroad will have a steady supply of Uganda Waragi thanks to Uganda Breweries Limited (UBL). The firm signed a five year Memorandum of Understanding with the Ministry of Foreign Affairs to supply Uganda Waragi and other locally made products. UBL Managing Director, Andrew Kilonzo, welcomed the move noting that it signals the public…
The Uganda Bankers Association (UBA) has named Kenneth Agutamba, Stanbic Bank Uganda’s Country Manager for Reputation and Corporate Communication, as the new chairperson of the Peer Committee on Marketing and Communication. He succeeds DFCU’s Jude Kansiime. Agutamba’s appointment follows a sector-wide nomination and consultation process that resulted in his unanimous endorsement. He will serve alongside…
Stanbic Bank Uganda’s new mortgage solution breaks financing barrier to home ownership. For most working Ugandans, the dream of owning a decent home remains just that—a dream. With soaring construction costs, high interest rates, and a complex mortgage application process, many lower-middle-class earners find themselves locked out of the property ladder. Despite the fact that…
The BMK Group has said it intends to create more employment opportunities for Ugandan youth. The managing director of Hotel Africana Limited, Haruna Kalule Kibirige told Bbeg Media at his office in Kampala that through their various companies under the BMK group more jobs will be created to help young skilled people. “We are committed…
The minister of state for Gender incharge of PWDs Asamo Hellen Grace has lauded the Bank of Uganda for engaging people with disabilities in its development programmes. “We are very happy to see inclusivity of people with disabilities in the suppliers meeting,this will also help them to participate effectively in business,” she told Bbeg Media….
In a move to accelerate Uganda’s transition from subsistence agriculture to a modern, industrialized agro-economy, Stanbic Bank Uganda, in partnership with the Ministry of Agriculture, Animal Industry and Fisheries (MAAIF), hosted the inaugural Consumer Convention 2025 in Kampala. The high-level forum attracted stakeholders from government, agribusiness, financial services, and the development community to discuss scalable…
Airtel Uganda has handed over Shs 37.9 billion to the Uganda Communications Universal Service and Access Fund (UCUSAF), reinforcing its commitment to expanding digital connectivity across Uganda. This represents an 11.4% increase from last year’s contribution. The contribution represents 2% of Airtel Uganda’s gross annual revenue for the financial year ending 31st December 2024, in…
The Supreme Court has issued a temporary injunction stopping I&M Bank from recovering Shs 10. 3 billion from businessman Haruna Sentongo for defaulting on his debt. The injunction will last four months until Sentongo’s appeal against the bank concludes. Last month, the Court of Appeal dismissed an application by Sentongo to stop the bank from…
Three ladies returning after a streak of work in the Middle East recently raised suspicion at Entebbe Airport. Known as ‘Kadamas’ they walked majestically, clad in head veils. They had an unusually high number of suitcases. It is those large suitcases that became the problem. For starters, the ladies did not want the suitcases to…
Standard Chartered Bank Uganda, a cornerstone of the country’s financial landscape since 1912, faced an unprecedented setback in 2024, with net profits after tax plummeting by over 70% to Shs 19 billion from Shs80 billion in 2023. This dramatic decline, reported in its financial statement for the year ending December 31, 2024 has sent shockwaves…
Stanbic Bank Uganda, through its for Her initiative, has partnered with UN Women to launch a transformative programme in the West Nile sub-region, targeting both refugee and host communities. The initiative is designed to empower women through digital inclusion, financial literacy, and sustainable livelihood support. “Our work in West Nile is grounded in the belief…
In a bold step signalling a new era in Uganda’s energy and mineral sector, the Uganda Chamber of Energy and Minerals (UCEM) has officially repositioned itself as a national leader in clean energy advocacy and sustainable mineral development. The announcement was made last week at a gathering of leaders in the energy and minerals sector….
As the country mourns Rajiv Ruparelia following his tragic death, his father, business mogul Sudhir Ruparelia, faces a profound personal loss and a daunting business challenge: who will succeed him to lead the vast Ruparelia Group? The group is a cornerstone of Uganda’s economy, with a portfolio that includes iconic properties like the Speke Resort…
By Denis Waliggo In today’s rapidly evolving world, the creative industries hold immense potential for shaping livelihoods and driving economic growth. From fashion design to digital animation, interior design to graphic arts, creative fields not only satisfy personal passions but also provide significant career opportunities. However, the decision to pursue a creative program is not…
Mumba Kenneth Kalifungwa, the Chief Executive of Stanbic Bank Uganda, once again demonstrated his golfing skills over the weekend during the Stanbic April Mug Challenge, ending up ranking in top 10 of competing players. He was amongst the first to tee off at 8am at the Uganda Golf Club at Kitante. “I am thrilled to…
Stanbic Bank Uganda has donated essential medical equipment valued at Shs 25 million to Mpugwe Health Center III in Masaka. The donation includes three delivery beds, two oxygen concentrators, and 100 Mama Kits, all identified as critical by the facility’s administration to enhance maternal and emergency care. The handover ceremony was led by Stanbic Bank…
Anthony Natif took on Friecca Pharmacy, won the first round. Friecca then won the second round, and eventually, Natif was kicked out of his building, dubiously. **** Friecca Pharmacy in Wandegeya should be entered into our folklore. For more than two decades, it has been one of the most thriving pharmaceutical businesses in Kampala, thanks…
The business relationship between MTN Uganda and VAS Garage Limited kicked off inconspicuously. One late afternoon in 2012, VAS Garage, a mid-sized content creator and developer, was approached by MTN. For some time, MTN had been impressed by the firm’s creativity in content development and wanted the two to partner and make some money. In…
The PPDA tribunal has cancelled a Shs 5.7 bn insurance deal that the National Medical Stores (NMS) had awarded to Sanlam General Insurance after a competitor, UAP Old Mutual Insurance, proved it had been eliminated unfairly. UAP Old Mutual had appealed to the tribunal challenging NMS’s decision to award the contract for comprehensive insurance for…
