Author: Our Reporter

Stanbic Uganda Holdings Limited (SUHL) has today revealed its impressive financial results for 2024, showcasing not only its robust profit but also its pivotal contribution to Uganda’s economy through taxation. With a profit after tax (PAT) of UShs 478 billion, the institution stands as a pillar of financial stability and growth in the region. Financial Performance and Tax Contribution Stanbic Uganda, the parent company of several subsidiaries, has emerged as the leading taxpayer in the financial services sector, paying an outstanding UShs 427.8 billion in taxes. This figure marks a remarkable increase from the UShs 355 billion paid the previous…

Stanbic Bank Uganda has issued a strong rebuttal to allegations made by Hon. Ibrahim Ssemujju Nganda, Member of Parliament for Kiira Municipality, accusing the bank of bribing Members of Parliament to influence the approval of a government loan. In a statement released today, Stanbic Bank categorically dismissed the claims as “false, baseless, and without merit.” The bank emphasized its commitment to operating within a strict anti-bribery and anti-corruption policy, challenging Hon. Ssemujju Nganda to provide any evidence to support his allegations. The allegations were made during the “Capital Gang” radio talk show earlier today, where the MP claimed that Stanbic…

Malawian FinTech Start-up Trade Flow Analytics have been announced winners of the inaugural Zambia/Malawi Women in FinTech Hackathon, walking home with $2,000 while Mighty Fin from Zambia came second and scooped $1,000. Organised by HiPipo in collaboration with COMESA Business Council (CBC), the Women in FinTech Hackathon is part of HiPipo’s Include Everyone program being scaled in the COMESA region starting with Zambia and Malawi. Speaking at the closure of a week-long Hackathon held at Lusaka Legacy Resort, the CBC Chief Operating Officer, Dr Jonathan Pinifolo, noted that while TradeFlow Analytics were the winners, all the 16 participating teams should…

MTN Uganda, through its Corporate Social Responsibility arm, MTN Foundation, has today officially inaugurated a new school block at Ocokican Community Secondary School in Ocokican Sub-County, Soroti District, in Eastern Uganda. This significant development includes two classrooms, a laboratory, 60 desks, 10 lab tables, 60 stools, a water harvesting system, two sanitary facilities, and a borehole. The total investment for this project is Shs327 million, further demonstrating MTN Uganda’s commitment to supporting education and community development across the country. The commissioning of this new school block is a key milestone in MTN Uganda’s Ambition 2025 strategy, which is focused on…

Equity Bank Uganda will be hosting its third event of the Bakyala Kuntiko empowerment in Iganga Town, Eastern Uganda. Bakyala Kuntiko is a Luganda word translated as “Women to the Top”, an initiative aims to promote gender equity and support women in their journey toward leadership and financial independence. This long awaited event will take place tomorrow, March 21, 2025, at the Musana Sol View Hotel from 9 AM to 4 PM. “We are inviting all the women from the local community to participate in a day of inspiration, learning, and networking.” Barbra Among, the bank’s head of Communication said adding that…

Kampala Lord Mayor Erias Lukwago is leading a delegation from the Kampala Capital City Authority (KCCA) to Paris, France, for a four-day Partnership for Healthy Cities Summit. The summit aims to equip mayors and technical leads with evidence-based solutions to address non-communicable diseases (NCDs) and injuries. The summit is part of a broader initiative by the Partnership for Healthy Cities, a global network of 74 cities committed to saving lives by preventing NCDs and injuries. Kampala City is a proud partner in this initiative, supported by Bloomberg Philanthropies and Vital Strategies. As part of the summit, Lukwago and his team…

President Yoweri Kaguta Museveni has commended the rapid progress on the construction works of Hoima City Stadium, reaffirming the government’s commitment to sports infrastructure development. Speaking during an inspection visit in Hoima City today, the President in the company of Maama Janet Museveni, the First Lady and Minister of Sports and Education, emphasized that while Uganda has a rich sporting history, investment in sports facilities had long been hindered by economic challenges. He noted that apart from Namboole and Nakivubo, the country had not done much in terms of stadium development but assured Ugandans that the tide was turning. He…

Uganda, through its corporate social responsibility arm, MTN Foundation, has donated vocational training equipment to Teens and Tots Neuro Development Centre in Kira Municipality, Kampala. The initiative aims to support parents of children with autism and young adults with disabilities by equipping them with skills to build sustainable livelihoods. The donation, valued at UGX 20 million, includes industrial sewing machines, baking equipment, digital devices, and soap-making supplies. The move is part of MTN Foundation’s Changemakers Initiative, which provides funding and resources to grassroots organizations working in areas such as economic empowerment, education, and healthcare. Speaking at the handover ceremony, MTN…

Hundreds of Muslim faithful broke the Fast during a high-profile Iftar dinner hosted by Stanbic Bank on Tuesday evening at the Sheraton Kampala Hotel. The event, which gathered prominent leaders and the bank’s clients, celebrated the Holy month of Ramadan in an atmosphere of community spirit. The interlude is observed by Muslims worldwide as a month of fasting, prayer, reflection, and community. The Chief Guest, Dr. Sheikh. Yahya Semudu the Uganda Ambassador to Sudan expressed gratitude to the bank, describing the gesture as a spirit of love and unity. He also highlighted the bank’s support for the different Muslim projects…

President Yoweri Kaguta Museveni has pledged government support to Mr. David Irumba, a successful agribusiness entrepreneur based in Bulera East Cell, Kyentale Ward, Hoima East Division, Hoima City. During a visit to Mr. Irumba’s farm today, the President commended his dedication to wealth creation, attributing his success to the government’s message of economic empowerment. Mr. Irumba, who began his journey in 2018 with three acres of coffee, has since expanded into poultry and goat farming, employing 50 workers and making significant financial strides. With a poultry stock of 50,000 birds producing 500 trays of eggs daily—earning him UGX 150 million…