In a significant move that underscores its stability and financial prowess under the new International Financial Reporting Standard (IFRS) 17, Jubilee Holdings Limited Board declared an interim dividend of KES 2 per share, totaling an impressive KES 145 million. This announcement reaffirms shareholder confidence in the company’s consistent profitability and resilience in the face of…
As technology continues to advance, so do the risks associated with it. The rise of deepfake technology has brought about new challenges for financial institutions, prompting the need for robust security measures to counter the potential cyber threats it poses. In a world where a simple scan of your face can reveal what you might…
As October approaches, the spotlight in Uganda’s financial market is turning towards the anticipated listing of 8 billion Airtel Uganda shares on the Uganda Securities Exchange (USE). Airtel Uganda’s listing is expected to raise a substantial sum of eight hundred billion shillings, with each share priced at UGX 100. The minimum application amount is set…
Singapore-based software products company, Azentio Software, is excited to announce the appointment of Sanjay Singh as its new Chief Executive Officer. Backed by funds advised by Apax, Azentio is primed for its next phase of expansion under the leadership of Sanjay, a seasoned executive with over 25 years of global experience in high-growth software businesses….
In the ever-evolving landscape of financial technology, USSD codes have emerged as a convenient and accessible means for individuals to conduct banking transactions on the go. In Uganda, mobile penetration is high but access to traditional banking services is limited which makes banking via USSD an essential service. This comprehensive guide delves into the world…
As the school holidays start, both schools and parents are gearing up for the Back-to-School season to ensure a smooth transition into the last term of the year. While the focus remains on education and personal growth, the financial aspect of this preparation should not be overlooked. Banks offer a plethora of financial products tailored…
Cellulant, a payments firm, is preparing to lay off 20% of its workforce as part of a restructuring effort aimed at transitioning to a learner-product-led organization. The fintech company is set to implement the workforce reduction in the near future. The CEO of Cellulant conveyed the company’s intention to enhance operational efficiency through initiatives like…
In the dynamic landscape of digital lending, M-Shwari, a mobile lending platform owned by NCBA Group, has secured a commanding 34% market share, making it the leading player in the sector. This revelation comes from data provided by the Competition Authority of Kenya (CAK), shedding light on the evolving digital credit landscape in the country….
Equity Insurance, a subsidiary of Equity Bank, achieved remarkable success by selling 7.2 million policies, contributing to an 8% growth in profits for the Equity Group, as revealed in its recently announced half-year results. The impressive performance of Equity Insurance has ignited optimism that it could potentially outshine its banking counterpart by 2030, as stated…
Housing Finance Bank has attained the Certificate of Acceptance from the Sustainability Standards and Certification Initiative (SSCI) at the 10th Global Sustainable Finance Conference held in Karlsruhe, Germany. This achievement highlights HFB’s strong commitment to sustainability, responsible business practices, and alignment with global Sustainable Development Goals and Uganda’s national development agenda. The process of becoming…
