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…
Parliament has passed the Sugarcane (Amendment) Bill, 2023, which provides for a stakeholder council to self-regulate the sugarcane industry. The Sugarcane (Amendment) Bill, 2023 was passed during plenary sitting yesterday. The lawmakers approved a recommendation of the committee on Trade, Cooperatives and Industry, which first considered the Bill, to replace the Sugar Board as established…
Airtel Uganda has reinforced its commitment to providing superior network connectivity by commissioning five new network sites in Soroti city. The expansion is part of Airtel’s ongoing investment in enhancing network coverage and delivering an exceptional digital experience for its customers in the greater Teso region. The new site in Soroti is one of several…
The ministry of Energy and Mineral Development is developing a communication strategy on nuclear energy. This was revealed by Dennis Tusiime, the senior energy officer at the ministry, while talking to BBEG Media. He said due to the enormous benefits of nuclear energy, the ministry has developed a strategy that will help the country in…
The former minister of state for Finance, Fred Jachan Omach, has urged President Museveni to intervene in the affairs of an idle mango fruit factory in West Nile that was commissioned in January 2021. “We appeal to the president to help us revitalize our Mango factory in West Nile because we are the food basket…
Buganda has signed a deal with Psalms Food Industries, the makers of Sumz snacks, to supply plantain (gonja), which is one of the company’s main products. This was revealed by Alfred Bakyusa, the chief executive officer of the Buganda Cultural and Development Foundation (BUCADEF), while touring Gomba county last week. “According to our findings, Gomba,…
Airtel Uganda has pledged to deepen its relationship with Buganda in relation to the annual Kabaka birthday run. Ali Balunywa, the director of Sales and Distribution at Airtel Uganda, told Bbeg Media that they were deeply impressed by the numbers that turned up yesterday for Kabaka’s birthday run. “This time, we brought 120,000 kits, and…
Airtel Uganda has launched five new network sites in Kabale Municipality in a bid to improve its network. The new sites are located at Kyetobokeire, Kekuubo, Nyabushabi, Rwakabara, Ahakempu – Katuna Road, Irimbo – Katuna Road, Mwanjari, and Kigongi, will enhance call clarity, boost internet speeds, and improve overall coverage. Speaking at the commissioning event,…
In 2013, Haruna Sentongo, an enterprising young businessman, hatched a project that would endear him to his parents. It would also help him keep scores with his more successful and flamboyant brother, Hamis Kiggundu. Sentongo had just opened Haruna Shopping Mall in Ntinda, following his Haruna Towers in Wandegeya Kubiri, and was brimming with business…
By Sheilla Kemigisa Employee engagement is the lifeblood of any successful organisation. According to Forbes, employee engagement is the emotional commitment the employee has to the organization and its goals. It drives productivity, sparks innovation, and fosters a workplace culture where employees are motivated to perform at their best. However, maintaining high levels of engagement…
Uganda Electricity Distribution Company (UEDCL) officially took over electricity distribution from Umeme, whose concession expired today. The journey started way back in 2005 when government of Uganda signed an agreement with Umeme to improve on the power services. Umeme Managing Director, Selestino Babungi, said it had been a long but fruitful journey for the company….
Women are critical to achieving economic growth and alleviating poverty considering they dominate a vital sector of Uganda’s economy – agriculture. The latest census figures indicate that out of Uganda’s total population of 45.9 million, 24.3 million are female, representing 53%. Despite this demographic advantage, findings from the 2024 population census further reveal that only…
Network International (Network), a leading enabler of digital commerce in the Middle East and Africa, has extended its partnership with Dubai-based carrier flydubai to introduce mobile money payments for its customers in Kenya and Uganda. This move will facilitate seamless transactions for bookings and other airline-related services in the East African Region, enabling travellers to…
The Uganda Development Bank (UDB) has launched the Reshaping Industries for a Sustainable Economy (RISE) Program. This initiative is expected to transform the way the Bank deploys its resources within the economy. The bank said RISE seeks to address modern-day challenges, diversify the economy, and establish high-tech, high-value-added, high-income, and truly green businesses and projects….
Hundreds of Muslim faithful broke the Fast during a high-profile Iftar dinner hosted by Stanbic Bank on Tuesday evening at the Sheraton Kampala Hotel. The event, which gathered prominent leaders and the bank’s clients, celebrated the Holy month of Ramadan in an atmosphere of community spirit. The interlude is observed by Muslims worldwide as a…
Speaker Anita Among has called for a fight against illicit financial flows that see Africa lose an estimated $88 billion annually. Among made this call while presiding at the African Organisation of Public Accounts Committee (AFROPAC) Conference and Fifth Annual General Meeting at Golden Tulip Hotel, Kampala on Monday, 17 March 2025. “The impact of…
It would not be a stretch to say that the coffee sector is the backbone of Uganda’s economy. It contributes significantly to foreign exchange earnings and supports millions of livelihoods. Last year, the country earned Shs 6 trillion from coffee exports. With more strategic investments, experts believe the country can even earn much more from…
Parliament has approved Shs 60 billion as part of a supplementary request to fund Inspire Africa, a coffee firm run by businessman, Nelson Tugume. Henry Musasizi, the minister of state for Finance (General Duties) told MPs the additional billions are for the completion of standards and certifications, working capital to purchase coffee from farmers, branding…
At least 850 market vendors have graduated from the digital skilling inititiative under the ausoices of Huawei Technologies Uganda. They include 493 males and 358 females. The intitiative was spearheaded by the Ministry of ICT in collaboration with the National ICT Innovation Hub, MTN Uganda Foundation, Centenary Technology Services (Cente-Tech), and the Uganda Institute of…
MTN Mobile Money Uganda has unveiled its new Virtual Card through a partnership with Mastercard, Diamond Trust Bank, and Network International. Following the successful rollout of a similar solution in Rwanda last year, where MTN Rwanda, in partnership with Mastercard, introduced the Virtual Card by MoMo in November, 2024, MTN Uganda is now leveraging that…
Mumba Kenneth Kalifungwa has officially assumed the role of Chief Executive at Stanbic Bank Uganda, the largest commercial bank in terms of assets, revenue, and deposits. His appointment was first announced in December of last year. “I am delighted to join Stanbic Bank Uganda. With the support of my colleagues and stakeholders, this new role…
Uganda earned Shs 16 billion every single day from coffee exports in 2024, the highest in the country’s recorded history. According to a report from the Coffee Production and Development Department in the ministry of Agriculture, the country exported 6.44 million bags worth $ 1.62 billion (roughly Shs 6 trillion) between February 2024 and January…
The passing of Bulaimu Muwanga Kibirige, affectionately known as BMK, in September 2021 marked the end of an era for one of Uganda’s most illustrious entrepreneurs. BMK’s journey from humble beginnings in Masaka District to establishing a vast business empire, including the renowned Hotel Africana in Kampala, has been well documented in his memoirs: My…
The Uganda Development Bank (UDB) has reported significant year-on-year growth for 2024, showcasing robust performance across key metrics. According to its financial report for 2024, the bank’s loan portfolio grew to Shs 1.67 trillion, a testament to UDB’s continued commitment to fostering Uganda’s socio-economic development. The Bank’s total assets grew by 3%, from Shs 1.67…
Uganda’s total public debt for the 2023/2024 financial year stood at Shs 54 trillion, implying that, on average, each living Ugandan is indebted to the donors to the tune of Shs 1.1 million. The figure also reveals a strong appetite for borrowing by the government. Broken down, at Shs 54 trillion, it means the government…
Airtel Uganda and Trace Africa have joined hands to celebrate African Music excellence and digital empowerment. The partnership comes ahead of the Africa Trace Awards to be held in Zanzibar between February 24 and 26. The awards will also culminate the Airtel #SmartaWithData campaign, an initiative to enable customers to make informed decisions about their…
Uganda’s public transport sector has long faced significant challenges, including disorganization, high operational costs, and a lack of streamlined leadership structures. While digital transport platforms have made their way into Kampala, their services remain largely inaccessible to many areas across the country. However, a ground-breaking solution has emerged: The United Boda-boda Riders Cooperative Union, a…
Microhaem Scientific (MHS), a Ugandan medical supplies company funded by the Uganda Development Bank (UDB), has dispatched its first consignment of locally manufactured diagnostic kits to the Government of Uganda through the National Medical Stores. MHS produces diagnostic kits that enhance the efficiency, convenience, and accuracy of malaria, HIV, and sickle cell disease diagnoses. Patricia…
Stanbic Bank Uganda has unveiled a new campaign dubbed Kiri SupaDupa which aims at breaking barriers to access to finance for newly employed individuals, especially the youth. According to the African Development Bank (AfDB) young people face numerous institutional barriers when sourcing funding for their personal or commercial ventures with lack of collateral, limited credit…
