Finance & Banking
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Equity Bank Uganda engages media on 2022 financials
KAMPALA -Equity Bank Uganda on Monday held a media engagement in Kampala to discuss the financial performance of 2022, the Africa Recovery and Resilience Plan and its achievements so far, as well…
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Ajay Banga becomes 14th President of the World Bank
WASHINGTON – The Executive Directors of the World Bank have selected Ajay Banga as the next President of the World Bank for a five-year term beginning June 2, 2023. Banga most recently served…
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NSSF launches campaign to recruit more members
MBARARA – The National Social Security Fund [ NSSF ] senior public relations officer, Victory Karamagi says they have launched a campaign aimed at encouraging more employers in the country to register…
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Centenary Bank posts 11.4 percent growth as rivals dispute Auditor General on undercapitalisation claims
KAMPALA – Centenary Bank had its gross profit rise by 11.4 percent to Shs 321.2 billion in the year ended December 31, 2022, from Shs 288.5bln posted in 2021, the bank’s managing…
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Silicon Valley Bank and the double-edged sword of digital efficiency
LONDON – The collapse of Silicon Valley Bank perfectly exemplifies the dangers of digital finance. During the bank run in March – enabled by the increased speed and efficiency of digital finance…
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Bunyoro farmers challenged to take advantage of ACF
HOIMA – Farmers in Bunyoro Sub-region have been urged to take advantage of the Agriculture Credit Facility [ ACF ] initiated by government to boost commercial farming in the country. Joseph Mutaka,…
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Egypt acquires equity in BRICS New Development Bank
CAIRO-One of Africa’s economic powerhouses, Egypt recently took an equity in the BRICS New Development Bank [NDB], weeks after President Abdel-Fattah El-Sisi visited India as a chief guest for the Republic Day…
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UDB readies Shs 18.3bln for 19 projects in Bunyoro
HOIMA– At least 19 projects in Bunyoro Sub-region that need cheap loans will benefit from Shs 18.3 billion offered by Uganda Development Bank [UDB], with the projects expected to create 432 jobs…
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“We have terribly missed him” BoU boss wails in tribute to Late Prof. Tumusiime-Mutebile
KAMPALA-Staff at the Bank of Uganda [BoU] still miss former governor, the Late Prof. Emmanuel Tumusiime-Mutebile who died on January 23, 2022, according to the institution’s deputy governor Michael Ating-Ego. Atingi who…
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Standard Chartered Bank sets pace with launch of offshore mutual funds
KAMPALA-Standard Chartered Bank Uganda on Monday launched offshore mutual funds product for their clients during a press conference held at Kampala Serena Hotel and presided over by the Bank’s CEO, Sanjay Rughani,…
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