Absa Bank posts Shs 546 billion revenue in 2024
Absa Bank Uganda has posted a robust set of financial results for the year ended December 31, 2024, with profit after tax rising by 22% to Shs 178 billion. Revenue increased by 15% to Shs 546 billion, which is a reflection of strategic investments made and unwavering customer loyalty to
Court Ruling: Tight Security Guard Connived in Nile Distilleries Warehouse Theft
Blue Nile Distilleries and APA Insurance have lost a Shs 89.3 million lawsuit against Tight Security Ltd. On January 29, 2020, Blue Nile Distilleries and its insurer, APA Insurance, filed a suit in the Commercial Division of the High Court seeking to recover Shs 89.3 million following the theft of
Hellen Alaba Wins 19-Year Pension Dispute Against Bank of Uganda
In a landmark ruling delivered by the Industrial Court of Uganda, Hellen Alaba, a former Banking Assistant at the Bank of Uganda (BOU), emerged victorious in her 19-year legal battle for retirement benefits. The court ruled that Alaba is entitled to her accrued pension benefits for her service between May
Kampala International University Loses Shs 46.6 Billion Case Against Housing Finance Company
In a landmark ruling delivered by the Commercial Division of the High Court, Kampala International University’s (KIU) application to stay the execution of a $12.7 million (Shs 46.6 billion) arbitral award in favor of Housing Finance Company Limited was dismissed. Presided over by Justice Stephen Mubiru, the decision marks a
Remittances Campaign MoMo Rewards Customers with Trips to Mecca
In the spirit of giving and community, MTN MoMo successfully concluded its special Ramadan Remittances Campaign, an initiative designed to reward loyal customers who sent or received money from abroad during the holy month of Ramadan. The campaign underscored the values of connection, generosity, and spiritual reflection during this sacred
Coffee Exports Earn Uganda Shs 616.7 billion in One Month
Uganda earned US$ 167.78 million (Shs 616.7 billion) from the export of 555,756 60-kilogram bags of coffee to various international markets, according to the February 2025 monthly coffee report. The average price per kilogram of coffee was US$ 5.03 (Shs 18,488), an increase of US cents 29 from US$ 4.74
‘The era of aid or free money is gone’
In the face of dwindling global funding, tariffs, and geopolitical tensions, African Development Bank Group President Akinwumi Adesina said Africa must wean itself from aid dependency and urgently chart its future through self-reliance, strategic partnerships, and leveraging its vast natural resources. He spoke on Friday in Abuja at the 14th
UBL commissions a mini-water scheme, hand pump in Kabalore District
Uganda Breweries Limited (UBL), has today handed over the Shs 190 million solar-powered mini-water scheme in Hakibale Village and hand pump in Bulera Village, Kibasi Town Council, Kabarole District, which will serve 1,100 people. The commissioning was presided over by Victoria Rusoke, the State Minister for Local Government, who also
Afreximbank commissions first-of-its-kind African Trade Centre in Abuja, Nigeria – marking a new era for Intra-African trade
Multilateral Bank African Export-Import Bank (Afreximbank) has officially commissioned its first Afreximbank African Trade Centre (AATC) today in Abuja, Nigeria, ushering in a transformative era for trade and investment in Africa. During the grand commissioning ceremony, speakers, including Hon. Dr. George Akume, Secretary to the Government of Federation, Nigeria representing H.
Stanbic Bank hosts inaugural financial literacy training for education institution heads
Stanbic Bank has hosted an inaugural financial literacy session recently for senior administrators of primary, secondary, and vocational schools in the Kampala Metropolitan Area. The event took place at Hotel Africana, in partnership with Opportunity International, and brought together school directors, head teachers, and bursars for a comprehensive six-hour mentorship
