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…
Equity Bank is gearing up to celebrate Women’s Month through a series of special events designed to empower and enable women in small-scale businesses to reach their full potential. Aligned with the International Women’s Day theme, ‘Invest in Women; Accelerate Progress,’ Equity Bank is focusing on supporting women customers, particularly those in the micro-segment. Dubbed…
EIB Global, a division of the European Investment Bank (EIB), and Uganda’s Housing Finance Bank (HFB) have announced a collaborative initiative to invest €50 million to support private sector entities, particularly Small and Medium Enterprises (SMEs) in Uganda. The partnership places a special emphasis on gender inclusivity, aiming to improve women’s access to finance by…
In a special meeting held on March 6, 2024, the Monetary Policy Committee (MPC) took a significant step by increasing the Central Bank Rate (CBR) to 10%. The decision was driven by a series of economic challenges outlined in the monetary policy statement of February 2024. The risks mentioned in the statement released by the…
In a strategic move to bolster its presence in East Africa, Standard Bank Group has announced the appointment of Anne Juuko, the Chief Executive of Stanbic Bank Uganda, as the Global Markets Regional Head for East Africa, effective April 1. Kayode Solola, the Executive Head for Global Markets—Africa Regions at Standard Bank Group, extended congratulations…
The Uganda Development Bank (UDB) witnessed a significant surge in its outstanding loan portfolio to Ugandan enterprises, reaching Shs 1.6 trillion in 2023, marking a 24% increase. The year saw a 21% rise in total loan disbursements, with an impressive Shs 691 billion approved for lending to 201 various projects, as per the bank’s unaudited…
Arua Central Police Station has apprehended five Post Bank staff members over their suspected involvement in the theft of Shillings 138 million. Among the detainees are Leonard Lakwey, the Operations Manager, Walter Feni, the Customer Service Officer, as well as banking officers Resty Lunkuse, David Tenywa, and Brian Olara Okidi, all stationed at the Arua…
Top Customer Experience Ratings for Co-op, NCBA, and Family Bank in KBA Survey In the latest customer experience survey conducted by the Kenya Bankers Association (KBA), Co-operative Bank of Kenya, NCBA, and Family Bank emerged as the top performers among the country’s 39 commercial banks. The annual survey, designed to assess the quality of service…
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…
