Author: Atuhire Stella Patience
Stanbic Bank Uganda received the 2024 ‘Best Corporate Banking services’ award during a recent high-profile event hosted by Consumers Choice Awards (CCA) and graced by Amelia Anne Kyambadde, the Senior Presidential Advisor on Industry. This is the sixth edition of the awards specifically organized by CCA off-shoot, Consumers Guide Magazine, with a view of celebrating businesses that consistently deliver outstanding services and value as recognized by their customers. The awards are dedicated to recognizing outstanding business performance based on rigorous independent market research. The selection of winners reflects the genuine sentiments of consumers and businesses across Uganda, affirming the relevant…
Stanbic Uganda Holdings Limited (SUHL) has announced an interim total dividend payment of UShs 140 billion or UShs 2.73 per share for the half year ending 30 June 2024. After a meeting held on 15 August 2024, the Board of Directors agreed on the dividend payment subject to regulatory approval by Bank of Uganda. During the period under review, the SUHL’s profit after tax rose by 17.6 percent to UShs 236bn compared to UShs 200 bn the previous year. Customer deposits also grew by 4.9 percent to UShs 6.6trillion, while customer loans were up 9.5 percent to UShs 4.4tn. The…
113 Equity Leadership Program scholars have secured admission and scholarships to join 71 global universities located in 22 countries around the world. Eight of these beneficiaries are from Uganda. Equity Group Foundation (EGF) Executive Chairman Dr. James Mwangi commissioned the airlift of the 113 scholars drawn from the Equity Leaders Program in four countries – Kenya (82), Rwanda (21), Uganda (8) and the Democratic Republic of Congo (DRC) (2). The scholars have secured scholarships valued at Ksh.2,797,026,475 (USD 21,497,646) for the 4-year duration of their undergraduate studies, and each scholar will receive an airlift token of Kshs. 200,000 to support…
An initiative to enhance land tenure security in the Busoga Region is underway involving the registration of Certificates of Customary Ownership (CCOs). The initiative aims to secure 25,000 CCOs by January 2027 and represents a significant step in empowering local communities and promoting sustainable development. The collaborative effort involves the Ministry of Lands, Housing and Urban Development (MLHUD) with support from the Cadasta Foundation, Ujamaa Foundation and Uganda Community Based Association for Women and Children Welfare (UCOBAC) with financial support from the Rising Tide Foundation. The initiative is not just about issuing certificates, but recognizing and validating the land rights…
First Street in Kampala’s industrial area was last Saturday transformed into a time capsule celebrating oldies music during the Stanbic Bank FlexiPay sponsored 9th edition of Reminisce Kadanke. Held in an atmosphere of fun and nostalgia, throngs begun converging from 3pm for the party at Club Guvnor under the theme, ‘The daytime disco edition’. “The Reminisce is an experiential event, which brings together lovers of old-school culture to enjoy the good music all the way from the 1960’s to early 1990’s as they catch up with friends. Birthed in 2021, Reminisce has since grown into an event that runs three…
Uganda’s private sector reported a continued growth of new orders running into the fourth month at the end of July marking the start of the third quarter. The upturn was widespread across all five monitored sectors, with firms linking the expansion to new client wins. The headline Stanbic Purchasing Managers’ Index (PMI), which tracks Uganda’s private sector operating conditions, rebounded to 53.7 during July from the dip of 51.9 posted for June after a high of 54.1 recorded in May. Readings above the threshold 50.0 mean a generally positive outlook. Christopher Legilisho, Economist at Stanbic Bank said, “The July PMI…
Stanbic Bank has pledged to increase support for Savings and Credit Cooperative Societies (SACCOs) across the country, in a bid to foster financial inclusion and economic growth in Uganda This comment was made by Sam Fredrick Mwogeza, the bank’s Executive Director during the 2nd National Microfinance and Savings Groups Conference at Hotel African, in Kampala. Mwogeza emphasized the importance of SACCOs in providing financial services to grassroots communities and driving economic development, a move that perfectly aligns with the Bank’s Purpose; ‘Uganda is Home, We Drive her growth’. “We started this journey way back when we realized that small business…
What do I mean by a cushion in this case, a strong financial muscle? Without that, you will need all the patience in the world to ensure your business gets to its first birthday. Many say businesses can operate with little to no cash, but the rate of growth when one has nothing to his or her name cannot be compared with someone who comes in big; they scale up so fast. Having no cushion will make you stressed, causing one to turn their friend circle into therapists. Getting big clients that pay the big money with no proof of…