Hamis Kiggundu (Ham), has filed an application with the Constitutional Court to challenge a ruling made by the Supreme Court on June 6, 2023. The Supreme Court ruling had thwarted Ham’s efforts to avoid repaying the loans he borrowed from Diamond Trust Bank (U) Ltd (DTB-U) and Diamond Trust Bank (K) Ltd (DTB-K). Ham, along…
The government is currently conducting a cost benefit analysis to determine whether to replace low denomination banknotes with coins. In a Letter of Intent published in the June International Monetary Fund (IMF) Fourth Review for Uganda, Finance Minister Matia Kasaija and Bank of Uganda Executive Director of Research Adam Mugume, representing the government, expressed concerns…
dfcu Bank, Mastercard, and Rabo Partnerships have come together to announce a transformative strategic partnership aimed at digitizing the agricultural ecosystem in Uganda. This collaborative effort seeks to empower smallholder farmers and other actors in the agricultural value chain by providing them with improved access to markets and credit facilities, ultimately enhancing their livelihoods. The…
TerraPay, a prominent global payments infrastructure company, has announced a strategic partnership with Safaricom, Kenya’s leading telecommunications, IT, and financial services provider. The collaboration aims to drive financial inclusion by facilitating seamless cross-border payments. Through TerraPay’s subsidiary, Mobex (Kenya), a licensed Money Remittance Provider, over 30 million M-PESA mobile wallet users in Kenya will be…
Stanbic Bank Uganda has earned the prestigious title of Best Bank in Uganda at the Euromoney Awards for Excellence 2023. The announcement was made during a ceremony in London where the world’s best banks were celebrated for their achievements. Euromoney, a leading authority in the global banking and financial markets, considered 269 different award categories…
PostBank and MTN Uganda have collaborated to introduce the innovative mobile wallet platform called “Wendi,” aimed at facilitating the seamless distribution of funds for the Parish Development Model (PDM) in Uganda. Wendi, powered by PostBank, is an electronic payments platform that focuses on group savings, funds management, and digital money transfers, deposits, and withdrawals. It…
Dr. James Mwangi, the CEO and Managing Director of Equity Group, was recently presented with the prestigious Lifetime Achievement Award at the All-Africa Business Leaders Awards in Sun City, South Africa. The award, given by Africa Business News (owners of CNBC Africa and Forbes Africa), recognizes individuals who have made a significant impact on their…
Verve International, Africa’s largest domestic payments scheme, has achieved another significant milestone by surpassing 50 million issued payment cards in Nigeria.
According to the Auditor General, URA received authorization from the finance minister to retain the mentioned funds
Equity Group has announced an increase in its lending rates, effective from July 10, following the Central Bank’s decision to raise its benchmark lending rate to commercial banks by 100 basis points to 10.5 percent on June 26.
