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…
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…
Stanbic Bank Uganda unveiled a remarkable 23.5% surge in its profit after tax for the first half of the fiscal year, amounting to Shs 200 billion. This impressive growth has been propelled by substantial increases in both interest and non-interest income, coupled with a reduction in operational expenses. Stanbic Bank, a subsidiary of Stanbic Bank…
Businessman Patrick Bitature has been directed by the International Chamber of Commerce Court of Arbitration in London to repay over $65.7 million (approximately Shs244 billion) to Vantage Mezzanine Fund II Partnership, a South African investment fund. The ruling came on July 31st, after a legal dispute between the parties. The arbitration was overseen by Prof…
The Islamic Development Bank Institute (IsDBI) recently organized a comprehensive training program in Kampala, Uganda, aimed at enhancing the effective management of zakat as a form of Islamic social finance within IsDB member countries. Taking place from August 14th to 16th, 2023, the program welcomed participants from Uganda, who engaged in an intensive training session…
Over one-third of corporate employees in Africa are susceptible to phishing and social engineering attacks, but regular training can substantially diminish their vulnerability to such cyber threats. This insight emerges from KnowBe4’s 2023 Phishing by Industry Benchmarking Report for Africa, which gauges an organization’s Phish-prone Percentage (PPP), an indicator of how many employees are likely…
In the realm of investment opportunities, unit trusts stand as a versatile and accessible avenue for individuals seeking to grow their wealth while benefiting from professional management and diversified portfolios. Offering a bridge between the complexities of the financial market and the aspirations of everyday investors, unit trusts have gained traction as a reliable and…
In the dynamic world of business, Small and Medium Enterprises (SMEs) play a pivotal role, contributing to innovation, economic growth, and employment opportunities. While SMEs possess inherent agility and adaptability, they also face unique financial challenges that require strategic acumen to overcome. To chart a course towards sustainable success, SMEs must embrace prudent financial practices…
Mastercard Inc, a leading payment processor, has entered into an agreement to acquire a minority stake in the fintech division of MTN Group Ltd. The CEO of MTN, Ralph Mupita, has confirmed ongoing negotiations for this investment, as reported by Bloomberg. The bedrock of MTN’s fintech initiatives centers around its mobile money offering, MoMo, which…
In a world driven by financial transactions and economic decisions, instilling a solid understanding of banking concepts and money management in children is an invaluable gift. Early exposure to the world of banking can empower youngsters with essential life skills that will serve them well into adulthood. By introducing children to banking in a thoughtful…
