“Currency, Money Markets Remain Steady Amid Global Trade Developments”
The Ugandan shilling remained stable, trading within the 3,650–3,670 range, supported by dollar inflows from commodity exporters and offshore investors, according to Richard Nsubuga, a Trader in CIB Markets at Absa Bank Uganda. Demand for the dollar remained low throughout the week. We anticipate the shilling will maintain its strength
Absa Bank Unveils Digi Loans, Online Account Opening to Accelerate Digital Banking Access
In a move to meet the growing demand for fast, convenient, and paperless banking, Absa Bank Uganda has introduced two new digital innovations: Digi Loans and Online Account Opening. The fully self-service solutions, accessible via the Absa Mobile Banking App, Internet Banking, and Hello Money (USSD), enable customers to manage
Ugandan Shilling Ends April Steady as Dollar Inflows Bolster FX Market
The Ugandan shilling closed April trading steady within the 3655–3670 range, supported by dollar inflows from commodity exporters and offshore investors, according to Richard Nsubuga, Acting Head of Trading at Absa Bank Uganda. Demand for hard currency remained subdued throughout the week. Looking ahead, we anticipate the shilling will retain
Ugandan Shilling Remains Steady Amid Balanced Currency Flows and Improved Market Liquidity
The Ugandan shilling held firm against the US dollar throughout the week, trading within a narrow and stable range. This stability was supported by balanced activity between buyers and sellers in the foreign exchange market, according to Catherine Kijjagulwe, Acting Head of Markets at Absa Bank Uganda. Commodity-related inflows were
Ugandan Shilling Stabilizes Amid Balanced Market Activity and Central Bank Intervention
The Ugandan shilling maintained a stable trading range between 3660 and 3675, supported by subdued and balanced market activity. This stability follows a significant market correction from last week’s local unit lows of 3730/3740, and a gradual appreciation that closed the week at 3660/3670. The Bank of Uganda intervened in
Henry Tumusiime Appointed Human Capital Director at Absa Bank Uganda
Absa Bank Uganda has announced the appointment of Henry Tumusiime as its new Human Capital Director, effective 16 April 2025. Henry brings with him over 18 years of experience in organizational leadership and development, human resource management, and cultural transformation. He joins Absa Bank Uganda from Abacus Pharma (Africa) Limited,
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
Shilling Strengthens Amid Robust Currency Inflows, Market Eyes US Tariff Impact
The shilling demonstrated strength throughout the week, supported by robust inflows of hard currency, despite subdued corporate demand. At the start of the month, the exchange rate stood at 3660/3670. By mid-week, it appreciated to a yearly high of 3640/3650, attracting buyers from the energy and offshore sectors before closing
Absa Bank Uganda appoints Keith Kalyegira as Board Chairperson
Absa Uganda’s Board of Directors has appointed of Keith Kalyegira as the new Chairman of the Board, effective 1 March 2025. Keith is a highly respected and seasoned advisor on strategy, investments, and capital markets, with a wealth of experience cutting across both the public and private sectors. Keith previously
Absa Group Appoints Kenny Fihla as Group Chief Executive Officer
Absa Group has appointed Kenny Fihla, a senior financial services executive with 20 years of experience, as its new Group Chief Executive Officer (GCEO), effective 17 June 2025, pending regulatory approval. “Kenny is a recognised leader with substantial Pan-African banking experience, strong relationships across the financial ecosystem, and a proven
