The Uganda Parliament Speaker, Anita Among has forwarded the Auditor General’s forensic audit report on the alleged loss of over UGX 60 billion from Bank of Uganda (BoU) to the...
Many analysts agree that the Ugandan economy in 2024 exhibited remarkable resilience, navigating a landscape fraught with global uncertainties and regional challenges. At the centre of this performance was Dr...
This festive season, I had time to reflect deeply on how insanely gifted Uganda, the Pearl of Africa, is by nature and how we, as a country, have failed to...
By Steven Mwesige A flurry of incidents in the news of cybersecurity breaches in recent weeks are a cause for concern, but with a better understanding of cybersecurity need not...
Since Equity Bank Uganda discovered a UGX65 billion (approximately USD 18 million) digital fraud, the bank has been in the eye of the storm, causing a whirlwind of losses, staff...
Lucky Dube. Boys II Men. These aren’t names usually associated with banking. However, it speaks volumes to the kind of trailblazer that dfcu Bank is and how it’s helped to support other Ugandan trailblazers and transform Uganda society in the process. It’s a little over 30 years since dfcu agreed to finance the startup of Capital Radio in 1993, the…
Simpson Birungi founded Movit Products Ltd in 1997, starting with a makeshift workshop in Namasuba, Wakiso District. Since then, the company has grown into a multi-billion enterprise, becoming one of…
South Africa’s MultiChoice Group, the parent company of DStv, has registered its worst financial performance in its history revealing a loss of ZAR 4.1 billion (USD 222 million) for the financial year that ended March 2024, after a loss of ZAR 2.9 billion (USD 157 million) in the previous financial year in March, 2023. The Group suffered a 9% decline in…
The International Monetary Fund has pointed to an ongoing gradual decline in the dollar’s share of allocated foreign reserves of central banks and governments across the globe. However, strikingly, the IMF shows the reduced role of the US dollar over the last two decades has not been matched by increases in the shares of the other “big four” currencies—the Euro,…
Uganda Communications Commission (UCC) has opposed the idea of government giving preferential treatment Uganda Telecom in securing government business over other telecoms, warning that it could present a number of challenges to the industry from a regulatory perspective. Telecoms currently mint cash from government largely through voice services, which supplements heavily to their bottom line and financial health. UCC’s warning arises…
Forbes Africa released its annual list of Africa’s billionaires with its 2024 class of 20 billionaires now worth $82.4bn. Collectively, these billionaires would be the 18th richest person in the…
To guide and accelerate the standardised adoption of Environmental Social Governance (ESG) best practices, the Uganda banking industry, under the Uganda Bankers’ Association (UBA), has launched and committed to jointly…
For quite a long time, the sprawling and magnificent Metroplex Shopping Mall, in the upscale Naalya suburb along the Kampala Northern By-Pass highway on the outskirts of Kampala city, has raised a lot of questions about its viability as a major real estate investment. A recent online debate on the X social media platform placed the shopping mall into a critical…
Rwanda is set to commence the construction of its ambitious Kigali Innovation City (KIC) in September 2024 after key details regarding the project’s financing were agreed upon on the sidelines…
The Capital Markets Authority (CMA) of Rwanda has welcomed seasoned Botswana financial markets guru, Thapelo Tsheole, as its new Chief Executive Officer (CEO) replacing Eric Bundugu who has been acting…
