UDB profits soar as assets hit UGX1.78 trillion
The Uganda Development Bank Ltd. (UDB) has announced its financial results for the year 2024, highlighting its growing role in supporting Uganda’s economic development.
Section
Finance
Banking, insurance, pensions, capital markets and fintech.
DTB boss optimistic despite tough market conditions
The financial sector will continue facing challenging market conditions and banks in particular, will be required to be more agile and resilient in order to take…
Stanbic AGM approves UGX155 bn dividend pay-out
The shareholders of Stanbic Uganda Holdings Limited (SUHL) have held their Annual General Meeting (AGM) at which they approved a final dividend.
NCBA Bank reports UGX46 billion profit in 2024
NCBA Bank Uganda has announced a 40% increase in its profit before tax earnings, reaching UGX 46 billion in 2024.
I&M Bank sees UGX20 billion profit in 2024
I&M Bank Uganda has demonstrated impressive financial performance for the year ending December 31, 2024, with notable growth across all critical financial indicators…
Finance Trust Bank profits surge to UGX10 billion
Finance Trust Bank (FTB) has demonstrated a compelling financial performance in 2024, reporting an exceptional 178% surge in after-tax profits, climbing to UGX 10.36…
Gov’t, bankers gang up to combat financial cybercrimes
The Uganda Bankers Association (UBA) has established the Financial Sector Anti-Fraud Consortium, a collaborative initiative designed to proactively address the…
Foreign currency turnover tops UGX17.82 tn – BoU
As of December 31, 2024, Uganda’s forex bureau and money remittance sub-sector had handled foreign currency transactions worth UGX17.82 trillion, reflecting the growing…
Old Mutual, Airtel launch insurance payment plan
In a significant move to enhance customer convenience, Old Mutual Life Assurance has partnered with Airtel Uganda to introduce a new digital payment solution through Old…
Stock exchange suspends Umeme share trading
The Uganda Securities Exchange (USE) has announced the suspension of the Umeme counter on the bourse following the end of the company’s 20-year concession and eventual…
Stanbic records UGX478 billion profit in 2024
Stanbic Uganda Holdings Limited (SUHL), the parent company of Stanbic Bank Uganda, has reported a strong financial performance for 2024, recording a profit after tax…
Women using boda loans to acquire wealth
Countrywide, boda bodas have become an essential part of urban transportation, driving daily commutes and fueling economic activity. However, what was once a typically…
Watu unlocking livelihoods with electric bodas
Musa Lukwago, a resident of Kyengera on the outskirts of Kampala, started his delivery business in 2016. For a while, business was good—until he began receiving orders…
Atingi-Ego appointed Mutebile successor at BoU
President Yoweri Museveni has appointed Dr. Michael Atingi-Ego as the substantive Governor of the Bank of Uganda (BoU), replacing the late Tumusiime Mutebile.
Boda loans transforming Uganda’s livelihoods
When Andrew Mujuni lost his job as a security guard, his world turned upside down. After eight years of dedicated service, he was suddenly retrenched without warning.
DTB, Archbishop team up for Kabaka health initiative
The Archbishop of Kampala, Paul Ssemwogerere, has praised Kabaka Ronald Mutebi’s initiative to provide healthcare services to his people through the ‘Tubeere Balamu’…
Regional financer boosts Purifaaya water filter maker
DOB Equity, an investment fund based in Kenya, has announced that it will provide funding to Spouts International, a company enabling access to clean water through its…
Phone asset finance fueling 4G/5G Internet access
Because of the nature of his business, Moses Wambede always wanted a phone that could access high-speed internet but he didn’t have enough cash. A friend advised him to…