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Bank Of Uganda

Absa Uganda introduces MTN MoMoPay payments on point of sale terminals

Absa Uganda introduces MTN MoMoPay payments on point of sale terminals

Absa Uganda, AFRICA, Bank Of Uganda, Banking World, Business, EAST AFRICA, MTN, South Africa, UGANDA
Kampala, Uganda 8th.July. 2021 | (Above Caption) Mr. Mumba Kalifungwa, the Chief Executive Officer of Absa Bank Uganda Limited welcomed the innovation between Absa Bank and MTN Uganda. Absa Bank Uganda and MTN Mobile Money Uganda Limited have today announced the introduction of mobile money payment functionality, also known as MTN MoMoPay on Absa Point of Sale (POS) machines/terminals. The service is open to all MTN Uganda mobile money account holders, who can now make payments on any Absa POS machine, regardless of whether they hold an account with the bank. MTN Uganda Mobile Money General Manager Stephen Mutana noted that the innovation between ABSA Bank and MTN MoMo would bolster the digitalisation of Uganda's economy Announcing the partnership, Absa’s Managing Director, M...
Minister Amos Lugoloobi’s budget speech

Minister Amos Lugoloobi’s budget speech

AFRICA, Bank Of Uganda, Buganda Kingdom, EAST AFRICA, PAN AFRICA, UGANDA, Uganda Banker's association, Uganda Cancer Institute, Uganda Law Society, Uganda Olympic Committe, Uganda Police Force, Uganda Red Cross, Uganda Rugby Union, Uganda Super League
Speaker Jacob Oulanyah informs the House that Hon Amos Lugoloobi will present the budget on behalf of the President.Hon Amos Lugoloobi has just been appointed as State Minister for Finance awaiting vetting by the Appointments Committee.  Uganda’s per capita income is increasing steadily. In Financial Year 2015/16 it was US$ 808 and is projected to increase to US$ 932 in Financial Year 2020/21.  Coffee remains the leading agricultural export earning US$ 497.4 million in the Financial Year 2019/20. Dairy exports fetched US$ 204.5 million, while Tea exports earned US$ 71 million in Financial Year 2019/20. Fish exports earnings increased from US$ 121 million to US$ 227 million, over the same period. Minister Lugoloobi says scientific research and innovation is now tr...
COVID-19 Cases On Sharp Rise In Uganda

COVID-19 Cases On Sharp Rise In Uganda

Bank Of Uganda, BREAKING NEWS, COVID-19, EAST AFRICA, HEALTH, Ministry Of Health, UGANDA, WORLD, World Health Organization
KAMPALA, Uganda Uganda is seeing a sharp increase in COVID-19 cases, forcing its health officials to take stern emergency measures. From 200 cases per day in April, the East African country is now recording over 1,000 cases per day amid a looming vaccine shortage. At the Ministry of Health, hundreds of people line up standing, others sitting, as the line snakes its way to the vaccination tent.    Uganda’s COVID-19 cases stand at 44,594, with 361 deaths. Dr. Yonas Tegegn Woldemariam, the country’s representative at the World Health Organization, spells out the rate at which the coronavirus is spreading in Uganda.    “On the week starting from 25 April, Uganda reported 256 cases. The week starting 2nd May, that number went up to 411. The week of...
Uganda – Tanzania OIL Pipeline Deal Sealed: What surrounds it ?

Uganda – Tanzania OIL Pipeline Deal Sealed: What surrounds it ?

AFRICA, Bank Of Uganda, EAST AFRICA, UGANDA
Arusha, Tanzania Uganda has signed a pipeline deal with Tanzania and Total to transport crude oil from Uganda’s Albertine region to Tanzania’s Tanga port for refining, but the secrecy that surrounds this $3.5 billion project attracts questions around its viable benefit to the citizenry. For Uganda, this oil presents huge opportunities and significant risks. At all London Tube stations, there is a consistent reminder to “mind the gap between the train and the platform.” This is to always alert travelers about the risk of not taking the necessary precautions when entering and leaving the train wagons. It is precisely to avoid any accident that may arise when they miss a step and get trapped in the gap between the train and the platform. I apply this analogy to Uganda’s oil reso...
Standard Chartered Bank Uganda Appoints Former Minister of Finance, Mrs. Maria Kiwanuka as Independent Non-Executive Director

Standard Chartered Bank Uganda Appoints Former Minister of Finance, Mrs. Maria Kiwanuka as Independent Non-Executive Director

AFRICA, Bank Of Uganda, Banking World, Business, EALA, EAST AFRICA, European Council, EUROPEAN UNION, HUMAN INTEREST STORIES, Standard Chartered Bank
Kampala - 20 May 2021: Standard Chartered Bank Uganda has announced the appointment of Mrs. Maria Kiwanuka to its Board as an Independent Non- Executive Director.   Mrs. Maria Kiwanuka Mrs. Kiwanuka is a senior economist with 14 years’ experience at the World Bank, where she focused on East Asia, Southern Africa and Uganda and took part in a number of projects aimed at improving transport and power infrastructure as well as urban studies, among others. She served as the Minister of Finance Planning and Economic Development of Uganda from 2011-2015 and thereafter as a Senior Advisor to the President of Uganda on finance matters. She is a non-state expert in the 17-member governing council of the Global Green Growth Initiative, an intergovernmental organisation which aims to pro...
dfcu Bank makes an 80M shelter investment at the Uganda Cancer Institute   May 18, 2021

dfcu Bank makes an 80M shelter investment at the Uganda Cancer Institute May 18, 2021

AFRICA, Bank Of Uganda, Banking World, dfcu Bank, EAST AFRICA, HUMAN INTEREST STORIES, INTERNATIONAL, UGANDA, Uganda Cancer Institute
dfcu Bank's CEO, Mathias Katamba at the ground Breaking ceremony at UCI. dfcu and UCI Executives during the ground breaking Ceremony today. dfcu Bank has extended support to the Uganda Cancer Institute with the construction of a 100-seater shelter to provide the outpatients with a secure and decent waiting area as they access health services at the Mulago institute. The shelter valued at close to UGX 80million is expected to be ready for use in four (4) weeks. The Uganda Cancer Institute was established in 1967 and its mission is to provide state-of-the-art cancer care services while advancing knowledge through research and training of healthcare professionals in cancer care. One of the major challenges faced by UCI is the high patient load as a result of increasing cance...
Private Infrastructure Development Group’s (PIDG) company Emerging Africa Infrastructure Fund’s 2020 review shows loan book topped US$1 billion for the first time.

Private Infrastructure Development Group’s (PIDG) company Emerging Africa Infrastructure Fund’s 2020 review shows loan book topped US$1 billion for the first time.

AFRICA, Bank Of Uganda, BREAKING NEWS, Central African Republic, Climate, EAST AFRICA, KENYA, Kenyan Parliament, South Africa, South African Parliament, UGANDA
8 projects with an EAIF loan commitment value of USD 243m; 19% year-on-year committed loan portfolio growth; Local capital markets strengthened with EAIF anchor support for two local currency bond issues; Zimbabwe becomes 18th African country in current portfolio. The Private Infrastructure Development Group’s (PIDG) (PIDG.org) long-term infrastructure debt business, the Emerging Africa Infrastructure Fund (EAIF) saw its loan book break through the US$1 billion mark in 2020. EAIF signed eight  new projects, bringing the loan book value to US$1.04 billion.  The Fund committed $243 million in new loans to businesses in digital and telecommunications, energy generation, manufacturing, transportation and logistics and bulk storage. Managed by Ninety One, EAIF offers loans to m...
Makerere University 71st Graduation Ceremony Week Program

Makerere University 71st Graduation Ceremony Week Program

AFRICA, African Union, Bank Of Uganda, EAST AFRICA, EDUCATION, UGANDA, Uganda Law Society
As the week starts we head into the 71st Graduation Ceremony at Uganda's oldest and most prestigious university. The Schedule for graduation is as follows: Monday, 17th May, 2021School of LawCollege of Health SciencesCollege of Natural SciencesTuesday, 18th May, 2021College of Agricultural and Environmental SciencesCollege of Education and External StudiesWednesday, 19th May, 2021College of Business and Management SciencesCollege of Computing and Information SciencesCollege of Veterinary Medicine, Animal Resources and Bio-security Thursday, 20th May, 2021Makerere University Business School Friday, 21st MAY, 2021 College of Engineering, Design, Art and TechnologyCollege of Humanities and Social Sciences
Parliament approves Shs44 trillion budget for 2021/2022

Parliament approves Shs44 trillion budget for 2021/2022

AFRICA, Bank Of Uganda, Business, EALA, EAST AFRICA, EUROPEAN UNION, HUMAN INTEREST STORIES, INTERNATIONAL, Kenyan Parliament, Media, Ministry Of Finance,planning and Economic Development, South Africa, UGANDA, WORLD
Legislators have approved a shs44.7 trillion budget for the 2021/2022 financial year, which has seen a decrease of shs714 billion for the first time compared to the approved resource envelope of 2020/2021. According to the report of the Budget Committee, the drop this financial year is largely attributed to the projected decrease of shs2.4 billion in external financing for project support. Hon. Muwanga Kivumbi (seated) compares notes with Hon. Robert Centenary The report, presented during a plenary sitting chaired by Speaker Rebecca Kadaga on 7 May 2021 stated that the resource envelope is expected to be financed by domestic revenue constituting 76.7 per cent and 23.3 per cent of external revenue.   “It should be observed that shs200 billion will be drawn from the Petrole...
Parliament approves US$65 million loan for farmers

Parliament approves US$65 million loan for farmers

AFRICA, Bank Of Uganda, EALA, EAST AFRICA, HUMAN INTEREST STORIES, INTERNATIONAL, Parliament, POLITICS, UGANDA, Women Emamanicipation, WORLD, World Bank
Ugandans engaged in the agricultural sector are poised to receive stimulus packages following the approval of a request authorising government to guarantee Uganda Development Bank (UDB) to borrow US$65 million.Parliament approved a request to authorize government to guarantee UDB to borrow US$15 million from the European Investment Bank, US$10 million from Islamic Trade Finance Corporation, US$20 million from OPEC fund for International Development and US$20 million from the Arab Bank for Economic Development.Presenting the report on the request, during the plenary sitting on 21 April 2021, the Chairperson of the Committee on National Economy, Hon Syda Bbumba said the funds are being deployed in the agriculture, manufacturing and agro-industrial sectors.She added that the bank only receiv...
President Kenyatta commends Equity Bank for growing Africa’s economic freedom through its continental expansion

President Kenyatta commends Equity Bank for growing Africa’s economic freedom through its continental expansion

AFRICA, Bank Of Uganda, Banking World, Business, EAST AFRICA, Housing Finance Bank, HUMAN INTEREST STORIES, INTERNATIONAL, Nairobi, TECHNOLOGY, UGANDA, WORLD, World Bank
KINSHASA, DR CONGO, 21st April 2021-President Uhuru Kenyatta has commended Kenya's Equity Bank for its growing continental presence saying the financial institution's expansion is helping unite Africa and expand her economic freedom. President Uhuru Kenyatta and Equity Bank Group CEO Dr James Mwangi unveil a commemorative plaque to signify the official inauguration of the rebranded Equity BCDC office block in Central Kinshasa, DRC.  "Today, the Republic of Kenya and the Democratic Republic of Congo forge a stronger bond through the merger of Banque Commerciale du Congo (BCDC) and Equity Bank Congo (EBC). President Uhuru Kenyatta with Equity Bank Group CEO Dr James Mwangi and DR Congo's Central Bank Governor Deogratias Mutombo during the official inauguration of the rebranded Equi...
DIGITAL FINANCIAL SERVICES EXTEND CREDIT TO UNBANKED UGANDANS

DIGITAL FINANCIAL SERVICES EXTEND CREDIT TO UNBANKED UGANDANS

AFRICA, Bank Of Uganda, Banking World, dfcu Bank, EAST AFRICA, HUMAN INTEREST STORIES, INTERNATIONAL, MTN, TECHNOLOGY
Slightly over one in every three Ugandans have a bank account, with a reported 16.5 million Ugandans still using traditional saving methods such as physical cash, livestock and agriculture. With only 16 million bank accounts in the country, over half of the population has no access to savings or credit through financial institutions, as drivers of capital investment and, ultimately a higher rate of economic growth. Digital financial services, however, are playing a pivotal role in plugging this divide as various institutions are partnering to enhance access to financial services for the unbanked. Take for instance the MoKash platform in which customers of Ugandan mobile telecommunications company MTN can save from as low as Shs50 and borrow amounts from Shs3000 to Shs1 ...
Standard Chartered customers gain access to exclusive LFC prizes through BANK MORE SCORE MORE

Standard Chartered customers gain access to exclusive LFC prizes through BANK MORE SCORE MORE

AFRICA, Bank Of Uganda, Banking World, Business, EAST AFRICA, FUFA, INTERNATIONAL, Standard Chartered Bank, TECHNOLOGY
The digital pan-bank league competition’s top prize includes a trip to Anfield for LFC fans Press Release 25 March 2021; Kampala, Uganda – Standard Chartered Bank has announced the launch of BANK MORE SCORE MORE, a digital league competition offering its customers an opportunity to accumulate points that lead to exciting prizes. A compelling initiative for Liverpool Football Club (LFC) fans, BANK MORE SCORE MORE’s competition takes place on the ‘Standard Chartered Virtual League’, where prizes range from authentic Liverpool-branded merchandise, to an all-expenses paid trip to Anfield to watch LFC play. To partake in the competition, new customers simply need to open and fund a Digital Life Account and take up more products to earn points in the Standard Chartered Virtual Leag...
Testimonies by Youth in Agribusiness from Lira on the impact of COVID 19 on their businesses

Testimonies by Youth in Agribusiness from Lira on the impact of COVID 19 on their businesses

AFRICA, Bank Of Uganda, Banking World, Business, Central African Republic, INTERNATIONAL, Ministry Of Health, Standard Chartered Bank, UGANDA, Uganda Banker's association
Dickens Obote Poultry business, Adekokwok sub county, Lira district Dickens’ poultry farm was a source of poultry products to the surrounding community in Lira during the COVID-19 crisis. However, without the ability to travel and replenish his supplies because of a lockdown on travel, his business struggled to continue serving the community. Applause upon officially launching the youth in Agribusiness project 2 Minister of Agriculture, animal industry and Fisheries, Hon. Vincent Sempijja addresses participants during the launch “My poultry business had successfully grown to 3,000 birds by 2019. I was supplying a factory in the city, which has branches throughout the region. Until COVID lockdown struck in 2020, I was delivering 3,000 kroilers and broilers to the company on a ...
Parliament vets Bank Of Uganda Governor Prof. Emmanuel TUMUSIIME-MUTEBILE,IGP Ochola for new contracts respectively.

Parliament vets Bank Of Uganda Governor Prof. Emmanuel TUMUSIIME-MUTEBILE,IGP Ochola for new contracts respectively.

AFRICA, Bank Of Uganda, Diplomats, EALA, EAST AFRICA, European Council, EUROPEAN UNION, Facebook, HUMAN INTEREST STORIES, INTERNATIONAL, Kenyan Parliament, Media, POLITICS, UGANDA, Uganda Police Force, UN Human RiGHTS
Kampala,Uganda: Bank Of Uganda Governor Emmanuel Mutebile and Inspector Of Police Ochola vetted were today vetted by Parliament for their new contracts. Prof. Emmanuel TUMUSIIME-MUTEBILE has served as Governor and Chairman of the Board of Directors of the Bank of Uganda since 2001 to date. Prof. Emmanuel TUMUSIIME-MUTEBILE A seasoned professional economist and reformer, he spearheaded the design and implementation of the Economic Reform Program that restored Uganda from the economic crises of the 1970s and 1980s to sound economic performance during his service as the Permanent Secretary/Secretary to the Treasury in the ministry responsible for finance, planning, and economic development. The Inspector General of Police (IGP) Ochola is seen after being vetted by Parliament ...
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