Dfcu Bank’s Investment Club App has been recognized as the Platinum Winner in the Business Model Innovation category at the prestigious Infosys Finacle Innovation Awards 2023. The app stood out among over 200 nominations received from around the world
The Central Bank of Tanzania (BoT) has issued a stern warning to unlicensed financial institutions, companies, and individuals engaged in lending activities, emphasizing that strict measures will be taken against those who violate laws, regulations, and guidelines. In a statement released by the lender of last resort, it was highlighted that violators of financial regulations…
Standard Chartered Bank Uganda has launched a groundbreaking product known as SC Shilingi Funds, revolutionizing the investment landscape for Ugandans. As the first financial institution to introduce such a product in the market, Standard Chartered Bank is paving the way for small-scale, flexible local currency investments. SC Shilingi Funds operate as a collective investment scheme,…
Uganda Development Bank (UDB), the national development finance institution, has pledged to enhance its interventions with the allocation of UGX 85 billion from the 2023/24 national budget. This funding will specifically target medium and large enterprises. Currently, UDB’s capitalization from the government stands at UGX 1.22 trillion, and it is expected to increase further with…
Equity Bank Uganda has introduced a new loan product called Eazzy Stock Financing, specifically targeting distributors and suppliers. This digital lending product is collateral-free and designed to provide swift and convenient funds for Banking and Mobile Money Agents, Dealers, and Distributors to purchase floats as needed. The purpose of Eazzy Stock Financing, according to the…
Equity Bank, a leading financial institution in Uganda renowned for its innovative and customer-focused approach has announced its latest credit product: Eazzy Stock Financing. Eazzy Stock is a digital credit offering designed to empower businesses by enabling them to unlock the value of their inventory and access essential capital for growth and expansion. This product…
Interswitch, the leading integrated payments and digital commerce company in Africa, has formed a strategic partnership with Equity Bank, one of East Africa’s top banking groups. The collaboration aims to offer faster and more affordable banking services to Equity Bank’s customers at over 650 Interswitch-enabled ATMs belonging to 17 local banks in Uganda. This partnership…
In honor of World Blood Donor Day, dfcu Bank has launched a two-day blood donation drive in partnership with the Uganda Red Cross Society (URCS) at its branches. The inaugural drive kicked off this morning at the dfcu Bank Head Offices in Nakasero and will continue until June 15 at various locations, including Nakasero and…
Equity Group Holdings has announced its intention to acquire Cogebanque PLC Ltd, a Rwandan bank, as part of its regional expansion strategy. The two banks have already signed a binding term sheet, and upon completion of the transaction, Equity will pay $48.1 million (Sh6.71 billion) for a 91.93% controlling equity stake.
Last week, The Open Innovation Program, an initiative commissioned by Make-IT in Africa, a project by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) together with Housing Finance Bank as the host kicked off. The Program aims at advancing innovation that promotes smart…
