Michael Atingiego, the Deputy Governor of the Bank of Uganda, has urged the attendees at the Annual Bankers’ Conference to reflect on thought-provoking concepts such as “banking hours.” The remarks were made as he addressed the gathering under the conference’s theme, “Trends and Innovations in FinTech Changing the Face of Banking and Financial Service.” He…
In a landscape where digital financial services are embraced by more than half of the population, while traditional banking remains accessible to a mere 10%, the imperative for fostering collaboration with digital financial service providers becomes clear. This was the key message put across by Housing Finance Bank’s Managing Director Michael K. Mugabi as the…
Airtel Africa and Mastercard have jointly announced the introduction of an advanced cross-border remittance service, allowing Airtel subscribers across 14 African markets to send and receive money seamlessly. This groundbreaking service will be implemented in a phased manner, offering users a streamlined digital experience that bridges them to a global network. Remittances play a significant…
In a significant stride towards enhancing financial accessibility, Housing Finance Bank has joined hands with PostBank and Pride Microfinance Limited to establish a partnership with Airtel Money Uganda. This collaboration aims to facilitate the effortless distribution of Parish Development Model (PDM) funds by the Government of Uganda via the Wendi mobile wallet platform. This strategic…
Introducing children to the world of banking is an essential step toward fostering financial literacy and responsible money management skills. In Uganda, financial institutions offer a range of specialized banking products tailored for young savers. This article delves into a comparative review of banking products for children in Uganda, highlighting their features, benefits, and how…
In a world driven by financial transactions and economic decisions, instilling a solid understanding of banking concepts and money management in children is an invaluable gift. Early exposure to the world of banking can empower youngsters with essential life skills that will serve them well into adulthood. By introducing children to banking in a thoughtful…
In the dynamic landscape of business expansion, the choice between debt and equity financing becomes a pivotal decision that shapes the trajectory of a company’s growth. Both avenues offer distinct advantages and trade-offs, each catering to different needs and aspirations. Understanding the nuances of debt and equity financing is essential for entrepreneurs seeking to fuel…
Investment clubs have gained popularity in Uganda as a means for individuals to pool their resources and invest collectively. These clubs offer a range of benefits, including increased purchasing power, shared risk, and knowledge sharing. As the number of investment clubs grows, financial institutions have introduced specialized investment club accounts tailored to meet the unique…
Kenya Revenue Authority (KRA) recently unveiled new Pay As You Earn (PAYE) tax rates following the lifting of the suspension on the Finance Act 2023. The revised rates, which have been in effect since July 1, apply to employees earning over Sh500,000. Notably, there is a significant increase in taxes for those falling into different…
Trade financing plays a vital role in enabling businesses to sustain their operations, expand their reach, and navigate the challenges posed by the ever-changing global market. In times of economic uncertainty and disruptions, accessing trade financing from banks becomes even more critical for business continuity. This article explores how firms can harness trade financing options…
