Finance

6.5% CBR meant to meet inflation target in the medium term – BoU

by CEO ReporterFinanceIndustry & AnalysisDecember 22, 2021December 22, 2021

The Bank of Uganda (BoU) at the Monetary Policy Committee meeting of December 2021, maintained the Central Bank Rate (CBR) at 6.5%. The Central Bank says maintaining the CBR at…

PRODUCT REVIEW: Here Are The 10 Things You Need To Know About Absa’s Newly Launched Cardless ATM Withdrawal Solution

by Muhereza KyamuteteraCompany NewsFinanceThe Big StoryDecember 15, 2021December 17, 2021

Here are the key 10 things you need to know about this industry-first from Absa. First of all, to enjoy the extreme convenience, you have to be an Absa Bank…

DIGITAL INNOVATION: Absa Bank Uganda Unveils Cardless Withdraw Functionality on ATMs

by Muhereza KyamuteteraCompany NewsFinanceNews & AnalysisThe Big StoryDecember 14, 2021December 14, 2021

Absa Bank Uganda has introduced the country’s first innovative and exciting cardless withdrawal function on its Automated Teller Machines (ATMs).  The innovation allows customers to use a QR Code generated…

Early Christmas for PostBank as BoU upgrades government-owned financial institution to fully-fledged commercial bank

by Muhereza KyamuteteraCompany NewsFinanceNews & AnalysisThe Big StoryDecember 13, 2021December 14, 2021

Bank Of Uganda has issued PostBank a license to operate as a tier-one commercial bank.  Henceforth, PostBank shall no longer be categorized as a credit institution but as a deposit-taking…

December 3 – December 10, 2021: Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterFinanceIndustry & AnalysisDecember 10, 2021December 10, 2021

The Uganda shilling extended its gains on sustained flows mainly from remittances against thin demand. The unit traded within the range of 3560/70. In the fixed income, the treasury bill…

Stanbic Bank and Prudential Uganda to launch Health Insurance Product for Stanbic Bank Clients

by Muhereza KyamuteteraCompany NewsFinanceNews & AnalysisThe Big StoryDecember 9, 2021December 9, 2021

Stanbic Bank and Prudential Uganda are set to launch a health insurance product for Stanbic Bank clients, to protect their savings so that in the event of an illness or…

Saving at 50 years & beyond with the NSSF Voluntary savings plan: the story of Cavendish University’s Prof Alex Thomas Ijjo

by Muhereza KyamuteteraCompany NewsFinanceNews & AnalysisThe Big StoryDecember 9, 2021December 9, 2021

Upon qualification for his Age Benefit, that’s given to members who turn 55 years, Prof Alex Thomas Ijjo, an associate professor of Economics at Cavendish University, chose to continue saving…

Anthony Ndegwa exits NCBA Bank Uganda; replaced by Mark Muyobo as Ag Managing Director & CEO

by Muhereza KyamuteteraCEOsFinanceIndustry & AnalysisThe Big StoryDecember 3, 2021June 16, 2022

Anthony Ndegwa the Managing Director & Chief Executive Officer of NCBA Bank Uganda is leaving his position, effective next week, CEO East Africa has exclusively established. He is being replaced…

November 26 – December 3, 2021: Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterFinanceIndustry & AnalysisDecember 3, 2021December 3, 2021

The local currency found support in a fairly stable market environment characterized by lack of vigour on the demand side against sufficient supply levels. Trading was confined in a tight…

November 19 – November 26, 2021: Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterFinanceIndustry & AnalysisNovember 26, 2021November 26, 2021

The Uganda shilling got a boost from export flows as well end month conversion that lifted up the local unit to trade at 3550/60. In fixed income markets, yields on…