Wendi Mobile Wallet Digitizes PDM Payments
Wendi mobile wallet developed by PostBank has revolutionized the payment process for the Parish Development Model (PDM) program through its innovative digital platform. By leveraging cutting-edge technology, Wendi has successfully digitized PDM payments, reducing processing time, increasing efficiency, and promoting financial inclusion. Prior to the introduction of Wendi, PDM payments
AFC and CEXIM Strengthen Partnership to Drive Trade and Infrastructure Growth Across Africa
Africa Finance Corporation (AFC), Africa’s leading infrastructure solutions provider, has signed a Memorandum of Understanding (MoU) with the Export-Import Bank of China (CEXIM) to deepen collaboration in financing strategic infrastructure and trade projects across Africa. The agreement builds upon an existing relationship between the two institutions, dating back to 2018,
Shilling holds steady amid liquidity management
The shilling was largely stable during the week trading within a narrow range of 3670-3785 area. Both dollar inflows and outflows squared off during the period. Most corporate entities opted to reserve their shilling reserves to clear mid-month tax obligations. We expect the currency to continue trading range bound between
Uganda Baati opens New Showroom in Mityana
Uganda Baati Limited, a member of the Safal Group and Uganda’s leading manufacturer of high-quality steel building solutions, has opened its 16th showroom in Mityana, a district that has long relied on Kampala for quality steel building products. The new facility is purposefully located along Station Road in the heart
Uganda Baati boost Industrial Growth with Cutting-Edge SAFBUILD Solutions
Uganda’s industrial sector continues to expand, with manufacturing growing by 7.9% and agriculture’s gross value-added increasing by 4.4% in Q3 of 2023/24, according to the Uganda Bureau of Statistics. As the country prioritizes value addition, particularly in agriculture, Uganda Baati remains instrumental in strengthening industrial infrastructure. At the recent launch
A call to action for central banks to start CBDC issuance
A new report by Giesecke+Devrient and the Official Monetary and Financial Institutions Forum [OMFIF] reveals that it’s time for the decisive step to deploy central bank digital currencies. The payments services industry is experiencing a period of dynamic change. New entrants from beyond the banking sector are rapidly developing products
Shilling Holds Steady Against the Dollar Amid Strong Inflows
The Ugandan shilling remained stable against the dollar throughout the week, supported by strong inflows from commodity exporters and remittance firms, which outpaced corporate demand. By Friday morning, the local currency was trading at 3668/3678, strengthening from the week’s opening levels of 3677/3687. In the near term, we expect the
Housing Finance digital solutions transforming customer experience
Aware of the stark reality that the global economy is increasingly getting digitized, Housing Finance Bank is setting the pace in Uganda through their digital campaign that comes with incentives for customer adoption to mobile banking, e-commerce and other related services. In an exclusive interview with John B.Kaweesi, the bank’s Head
Gov’t proposes Shs 57.441 trillion budget for financial year 2025/2026
The government has tabled the Budget Framework Paper ahead of the 2025/2026 fiscal year. The paper was presented by Henry Musasizi, the Minister of State for Finance. According to the Budget Framework Paper, the estimated budget for the next financial year stands at Shs 57.441 trillion, a reduction from the
Uganda shilling holds strong against the dollar amid sector demand and global market influences
The Uganda shilling opened the week on a strong note, trading at 3645/3655 against the U.S. dollar. It briefly hit 3640/3650 before stabilizing back at 3645/3655 during the early session. Continued dollar inflows from the agri-commodity sectors especially coffee and cocoa as well as inward remittances, helped the dollar maintain
