MTN MOMO achieves 100% growth in mobile loans
MTN Mobile Money (MoMo) has reported outstanding growth in its digital lending portfolio, marking a 100% increase over the past 12 months.
Section
Finance
Banking, insurance, pensions, capital markets and fintech.
Top banker Kalifungwa quits ABSA for Stanbic
In a room full of chief executives, he easily stands head and shoulders above them – almost everyone is forced to look up to him.
Bank of Uganda denies complicity in $15m theft
The Bank of Uganda (BoU) has refuted reports that IT systems were hacked, following a multimillion-dollar scam that diverted money to bank accounts in the United Kingdom…
Credit financing boosting smartphone access
As Uganda accelerates efforts towards digital integration, device financing is emerging as a critical solution to bridge the digital divide and empower more individuals…
BoU to review StanChart’s exit plan from Uganda
The Bank of Uganda (BoU) is set to assess a proposal from Standard Chartered Bank Uganda regarding the sale of its wealth management and retail banking operations in…
Watu opens Uganda’s first boda boda training school
In a pro-active move aimed addressing the urgent need for road safety and professional motorcycle training, Watu Uganda, a leading asset financing company, has launched…
MTN leading way to cashless economy
In many developed countries, mobile payments, e-wallets and debit/credit cards, are now the most commonly used payment methods.
MTN, Mastercard launch e-commerce platform
In another first, MTN Uganda has become the first subsidiary of the MTN Group to launch an e-commerce platform, aimed at giving Ugandans a seamless online selling and…
Relief as Gov’t sets interest rates for money lenders
In a bold move aimed at tightening the noose on unscrupulous money lenders, the Government has published Legal Instrument 21 of 2024, which caps interest rates on loans…
DTB enters mobile phone lending segment
Diamond Trust Bank (DTB) and Credable Group have entered a partnership through which Ugandans will be able to borrow microloans via Airtel Money.
DTB customers to receive cash at no cost
Diamond Trust Bank Uganda (DTB) has partnered with Xpress Money, an international money transfer service, to enable customers to receive money in over 170 countries…
Five men remanded after phone-flashing crackdown
A crackdown on the growing menace of identity theft, phone theft and flashing fraud has resulted in the arrest and prosecution of five men.
Unit trusts total assets soar to UGX 3.5 trillion
Uganda’s financial assets under management (AUM) in the Collective Investment Scheme (CIS) market have hit an all-time high, reaching UGX 3.5 trillion (approximately US$…
Fintech industry stimulating local economies
Uganda is embracing the digital age, and the fintech sector is growing rapidly, transforming how people access financial services. At the forefront of this change is MTN…
Watu Uganda celebrates global service accolade
Watu Uganda, one of the country’s leading asset-financing companies, has been awarded the prestigious Client Protection Certification award.
Bank loans grew by 6.8% in 2024, says BoU
Commercial bank lending activities in Uganda have shown a robust increase, growing by 6.8% in the financial year ending June 2024, according to the Bank of Uganda.
DTB earmarks UGX400m for youth health initiative
The United Nations Population Fund (UNFPA) and Diamond Trust Bank (DTB) Uganda have signed a partnership worth USD106,458 (about UGX400 million) as a contribution to…
The Top 10 strongest currencies in 2024
Globally, the United Nations recognizes 180 currencies as legal tenders. The factors that determine the strength of a currency include the amount of the currency held by…