Uganda, Senegal and Kenya Top African Development Bank’s Electricity Regulatory Index, as Regulators Drive Tangible Reforms
Kenya and Senegal have claimed the top spots in the African Development Bank’s 2024 Electricity Regulatory Index (ERI) demonstrating exceptional progress in power sector governance and regulatory outcomes. The comprehensive assessment, officially unveiled today at the Africa Energy Forum in Cape Town, evaluates regulatory frameworks across 43 African countries. Uganda,
Stanbic Bank launches new FlexiPay campaign to bolster financial inclusion and digital transformation
Stanbic Bank Uganda announced the launch of an exciting, three-month nationwide campaign to boost its innovative digital payments platform FlexiPay. The campaign dubbed the Flexipay Cashback Explosion kicked off at the offices of Boda Boda Banja in Kampala, one of the bank’s key merchant partners in Kampala, with the goal of revolutionising
Tanzania celebrates and honors Akinwumi Adesina’s impactful legacy as President of the African Development Bank
The Government of the United Republic of Tanzania has honored the President of the African Development Bank Group Dr Akinwumi Adesina describing him as “a visionary leader, a tireless son of Africa who has dedicated his life to transform the narrative of the continent.” President Samia Suluhu Hassan praised Adesina’s
UDB reports net profit of Shs 57.8 billion in 2024
Uganda Development Bank Ltd [UDB] has reported a net profit after tax of Shs 57.8 billion for the year ended December 31, 2024, representing a 16 percent increase from Shs 49.8 billion in 2023. The profit growth was driven by continued strategic investment in interest-earning assets, coupled with prudent cost
Positive customer demand props up business conditions in May
Uganda’s private sector confidence about business conditions reached its highest level in almost two years, as the headline Stanbic Bank Purchasing Managers’ Index (PMI) for May reached 56.4, rising from 55.3 recorded in April. This is well above the 50.0 threshold for a positive outlook. Christopher Legilisho, Economist at Stanbic
Partners enter new alliance leveraging Islamic and Arab finance for economic transformation
Africa Finance Corporation (AFC) , United Nations Industrial Development Organization [UNIDO], the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Union of Arab Banks (UAB), formalized new strategic partnerships under the Islamic and Arab Finance for Economic Transformation in Africa, the Arab Region and Beyond (IFETAA) Programme. Access to
Reinventing Hospitality: How reserveport by Pesapal is powering Uganda’s hotels
Jean Byamugisha, CEO – Uganda Hotel Owners Association (UHOA) Uganda’s hospitality industry stands at a pivotal moment. As global travel patterns shift and guest expectations become increasingly tech-driven, hotel operators must reimagine how they do business — not just to stay relevant, but to thrive. Today’s traveler, whether local or
MTN Uganda deepens digital push with donation to Busoga Kingdom
MTN Uganda and its partners have today donated digital equipment and vocational tools to the Busoga Kingdom, reaffirming their commitment to bridging the country’s digital divide and empowering youth through practical skills development. The support, part of MTN’s annual 21 Days of Y’ello Care volunteerism campaign, was received by Busoga
High Trade and Investment Barriers Pose Threat to Mobilizing Financing for Development
Flows of foreign direct investment (FDI) into developing economies—a key propellant of economic growth and higher living standards—have dwindled to the lowest level since 2005 amid rising trade and investment barriers, new research from the World Bank shows. These barriers pose a significant threat to global efforts to mobilize financing
Court Faults Stanbic Bank in Shs 7.5M Fraud Case
The High Court has ordered Stanbic Bank to pay a total of Shs 7.5 million to a client over unauthorized transactions conducted on his bank account. In May 2022, David Onyango sued Stanbic Bank, seeking a declaration that a series of debit transactions amounting to USD 2,459.15 (Shs 8.8 million)
