Equity Bank has launched an investigation into possible fraud involving agent float financing and stock loans. Customers that used mobile banking services made up the majority of those impacted. They claimed that some dishonest people had been able to change their PINs and take money out of their accounts without their knowledge. Equity Bank acknowledged…
While addressing the leaders of the National Women’s Council and the National Resistance Movement (NRM) Women’s League at State House-Entebbe, President Yoweri Kaguta Museveni has challenged women leaders to preach the message of getting everyone into the money economy instead of spending time politicking. “Every homestead must join the money economy with “ekibaaro” and those…
According to research firm Counterpoint, Apple’s iPhone sales in China decreased by 24% in the first six weeks of 2024 when compared to the same period the previous year. It happens at a time when domestic competitors are putting the US tech giant under intense pressure in the nation. According to the report, China’s Huawei…
Fighting between the Sudanese Army and a rival group known as the Rapid Support Forces (RSF) has left thousands dead and eight million displaced. Across the war torn country, 18 million people are acutely food insecure and five million now face starvation. Restricted in their movements by ongoing violence and interference from warring parties and…
President Yoweri Kaguta Museveni has challenged women leaders to preach the message of getting everyone into the money economy instead of spending time politicking. He made the remarks while addressing the leaders of the National Women’s Council and the National Resistance Movement (NRM) Women’s League at State House-Entebbe. Get informed
The European Union Delegation in Uganda and the United Nations Capital Development Fund (UNCDF) have injected UGX 48.9bn in phase two of the agribusiness facility known as Support to Agricultural Revitalization and Transformation (START). EU and UNCDF say START Phase I saw over 50 SMEs benefiting from Shs 13.5 billion in concessional loans and grants…
Uganda’s central bank has announced that its policy rate will be raised to 10 percent, up from 9.5 percent, due to the depreciation of the country’s local currency and the expected rise in inflation. Bank of Uganda Deputy Governor Michael Atingi-Ego, while releasing a monetary policy statement, said the depreciation, which started in November 2023…
The amount of money that Ugandans contribute to the National Social Security Fund (NSSF) has risen from 1.27 trillion shillings in 2020 to 1.72 trillion in 2023. This contribution comes from up to 2.2 million members. Information obtained from NSSF indicates that this growth in savings has been the major contributing factor to the current increase…
MTN Uganda reports a 16.1 percent growth in revenues to 2.63 trillion shillings for the year 2023. Most of the revenues, (1.12 trillion) still came from voice services which grew by 11.6 percent, while the fastest growing segment was revenue from the use of data. Get informed
The Uganda National Examinations Board (UNEB) has released the results for the 2023 Uganda Advanced Certificate of Education (UACE) examination with 80,643 students meeting the criteria for admission into university degree programs. According to records, 73.7 percent of the qualified candidates are eligible for university admission. Get informed
