Despite facing a five percent decline in profit after tax, Equity Group has upheld its track record of dividend payout for the year ending December 2023. The bank’s board has recommended a dividend payout of Sh15.1 billion, marking an increase in dividend yield to 11.9 percent from 8.8 percent in the previous year. James Mwangi,…
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 an era marked by increasing globalization and interconnected economies, East Africa is no exception to the growing need for cross-border banking solutions. However, various challenges have hindered seamless financial transactions across borders in the region. In this article, we’ll explore the cross-border banking challenges faced in East Africa and shed light on the innovative…
Uganda’s digital payments landscape is undergoing a transformative shift, accelerated by the COVID-19 pandemic and evolving consumer preferences prioritizing convenience, speed, and security. While mobile money has seen widespread adoption, card payments have faced challenges, including merchant surcharges at point-of-sale terminals and limited awareness regarding the advantages of card transactions. The introduction of the “Sasuza…
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….
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 2022, Uganda’s banking sector demonstrated a robust performance, showcasing a resilient post-Covid-19 economic recovery. Commercial banks achieved remarkable results across essential performance indicators in 2022.
