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…
Kenyan Lawyers now have the obligation to report clients involved in illicit financial activities, following an agreement signed between a lawyers’ association and the Financial Reporting Centre (FRC). FRC officials informed Members of Parliament that the agency has reached a deal with the Law Society of Kenya (LSK) to withdraw a case that had been…
Betty Amongi, the Minister of Gender, Labour, and Social Development, has named Patrick M Ayota as the Managing Director of the National Social Security Fund (NSSF) for a term of five years, effective from August 18, 2023. Dr. Peter Kimbowa, Chairman of the NSSF Board of Directors, stated in a press release that Ayota’s appointment…
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 face of a challenging global macroeconomic landscape characterized by persistent high inflation, elevated interest rates, volatile exchange rates, and the devaluation of emerging economies’ currencies, Equity Group has unveiled its 2023 half-year results, showcasing remarkable resilience. Despite these adversities, the Group has shown a funding growth of 23%, primarily driven by a 21%…
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…
In the ever-evolving landscape of technology, Artificial Intelligence (AI) stands as a game-changer, ushering in transformative shifts that redefine how businesses operate and engage with customers. At the forefront of this dynamic wave, Chipper Cash is harnessing the power of AI to reshape the way we connect, create, and innovate. If you’re eager to delve…
In a resounding celebration of education and opportunity, Diamond Trust Bank(DTB) has announced the commencement of it’s third cohort, consisting of 100 ambitious students from diverse universities, into the much-anticipated DTB Job Shadowing programme. The initiative marks a pivotal step forward in bridging the gap between academic knowledge and real-world application. DTB Job Shadowing programme…
