New York, US | THE INDEPENDENT | The collapse of Silicon Valley Bank (SVB) has not only revealed billions of dollars in loss but also rattled the technology industry, which had been leading innovation in the past years but yet was disturbed by layoffs and bankruptcies for months. Small businesses …
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COMMENT | MOSES KAKETO | Imagine waking up one day to find MTN Uganda operating electric purses, issuing debit cards and prepaid cards, taking fixed deposits, and investing some of the money they get in bonds and securities. Industry experts apparently believe this to be a fairly accurate dream. The road to the …
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Johannesburg, South Africa | THE INDEPENDENT | Absa Group has today reported strong normalised headline earnings of R21 billion ($1.15billion) for the 2022 financial year, an increase of 13% from the prior year and well above pre-COVID levels. The result, Absa Group said, was driven by significantly higher pre-provision …
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COMMENT | JULIET BAGGYA NSIYONA | One of the communities known widely for the old age tradition of saving is India. Popularly known for encouraging the saving of chunks of their income rather than consuming it, this tradition is instilled right from birth, so, ideally each Indian child is aware …
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Kampala, Uganda | THE INDEPENDENT | KCB Bank Uganda has renewed its commitment to serve customers and communities in the country better, following the launch of its new cultural transformation agenda. The Bank’s new culture is aimed at unlocking customer-centric behavior that demonstrates KCB Bank’s deliberation towards enhancing people’s lives. Speaking …
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African mobile money M-PESA giant is looking to replicate its African success in new markets as the global demand for seamless, fast and affordable remittance services heats up. Nairobi, Kenya | BIRD AGENCY | With global remittances set to reach US$5.4 trillion by 2030, according to a specialised UN agency, African …
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Kampala, Uganda | THE INDEPENDENT | Standard Chartered Bank Uganda has launched an offshore Mutual Funds product for their clients during a press conference held at Kampala Serena Hotel and presided over by the Bank’s CEO, Sanjay Rughani and Keith Kalyegira, the CEO, Capital Markets Authority among other executives. With this …
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Cairo, Egypt | Xinhua | The Egyptian pound further declined against the U.S. dollar on Wednesday, plunging to below 31 pounds to the dollar before settling at 29.7 in the afternoon. The Egyptian local currency has lost about half of its value since March 2022, when a dollar was worth …
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Kampala, Uganda | THE INDEPENDENT | In recognition of an uncertain economic environment, Absa Bank Uganda has announced special financing packages intended to help customers kick start the new year on a stronger footing. The enhanced financing offering targeting salaried individuals includes a 2-month repayment holiday upfront, 0% arrangement fees …
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Kampala, Uganda | THE INDEPENDENT | Practitioners in the banking and financial services industry have been urged to maintain their ethics amid the current slowdown in economic activity, the Executive Director for Supervision at the Bank of Uganda – Dr Twinemanzi Tumubweine – has said. While addressing bankers during …
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The Independent Uganda: You get the Truth we Pay the Price