In a recent announcement, the Board of Directors of Diamond Trust Bank Uganda Limited has revealed the appointment of Mr. Godfrey Sebaana as the new Chief Executive Officer and Managing Director, effective April 2, 2024. Bringing over two decades of extensive experience in the banking sector, Mr. Sebaana is hailed as a seasoned banker. His…
President Museveni has enacted changes within his cabinet, with significant shifts and new appointments. Among the adjustments, Mary Goretti Kitutu, the Minister for Karamoja Affairs, has been replaced by Peter Lokeris. This change comes amidst allegations against Kitutu related to the misappropriation of iron sheets intended for the Karachuna warriors in Karamoja. In a relatively…
In a significant milestone for Watu Kenya and Watu Uganda, the esteemed MFR Certification Committee awarded them the Bronze level Client Protection Certification last week. This achievement underscores their steadfast dedication to responsible lending practices, prioritizing customer protection, and maintaining the highest industry benchmarks. The attainment of this certification stands as a testament to the…
According to the Uganda Retirements Benefits Regulatory Authority (URBRA), only approximately three million Ugandans out of a potential 18 million workers are actively saving for retirement. This leaves more than 15 million individuals without any form of retirement savings, exposing them to various vulnerabilities, particularly during their retirement years, typically between the ages of 55…
In a landmark move towards sustainable urban mobility in Uganda, Spiro has unveiled a groundbreaking partnership with MOGO Uganda, a leading asset finance company. This strategic alliance heralds the introduction of Spiro’s cutting-edge electric motorbikes to Uganda, starting with an initial delivery to MOGO in Kampala. With an established presence in Benin, Togo, Kenya, and…
The Uganda Microfinance Regulatory Authority (UMRA) has today unveiled new digital lending guidelines tailored for tier-IV microfinance institutions. This move underscores UMRA’s dedication to cultivating an environment conducive to the growth of the microfinance sector. The guidelines represent a roadmap for navigating the intricacies of digital lending while prioritizing consumer protection, transparency, and equitable practices….
Housing Finance Bank received two accolades for its commitment to advancing gender equality in the workplace at the 2024 edition Empower Her Awards organized by Nation Media Group and KPMG under the theme “Achieving an Equal Future” aimed at exploring the challenges, successes, and strategies for creating a more equitable world for all. The Bank…
Ugandans are rapidly embracing the ‘cashless’ trend that is reshaping the landscape of financial transactions in the country. The allure of going cashless not only offers convenience but also ensures a secure and seamless payment experience, freeing individuals from the burden of carrying physical currency. This transition has seamlessly integrated offline and online realms, allowing…
In a recent customer notice posted on social media. Equity Bank Uganda has revealed that there is an ongoing investigation into possible fraud on its loan products. The bank which has highlighted its commitment to innovation and customer empowerment, has emphasized its dedication to offering convenient products and services to support customers in reaching their…
In a landmark initiative, TowerCo of Africa Uganda has secured US$40 million in long-term financing from European development finance partners. The European Investment Bank, the Development Bank of Austria (OeEB), and the Belgian Investment Company for Developing Countries (BIO) have come together to support this venture, aiming to significantly improve mobile phone network coverage in…
