Centenary Bank together with Prudential Uganda have launched the Diaspora Funeral Cover. Under this product, Centenary Bank will be covering for the services needed by its clients abroad. These will include availing transportation for the customers’ loved ones back to Uganda and giving proper necessary funeral services in case they unfortunately lose them. This product arrives under the Bancassurance service…
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Bank of Uganda registers a Shs 23.5 trillion asset increase
According to info released, Bank Of Uganda saw it’s assets increase by Shs 23.5 trillion for the year ended June 2021. This was an increase from Shs 20.17 trillion for the year ending June 2020. The annual report from the Bank showed that foreign assets accounted for 75% of the total assets whereas the domestic ones accounted for 25%. Therefore…
Read MoreSteps Of Purchasing Shares in MTN Using Mobile Money
Uganda’s largest Telecom company MTN Uganda recently announced how it had put up 20% of it’s shares to the public for sale. This is in a bid to localize their business activities and enable the local people to have a hand in it’s direct operations. These Initial Public Offering shares number up to 4,477,808,848 equivalent to 20%. If anyone wants…
Read MoreStanbic Bank runs to Court to Claim Shs 24.7B
Stanbic Bank has sought Court intervention as it seems to recover Shs 27.4b. The bank accuses Fol Logistics and it’s managing director Mohammed Ahmed Bawazir for defaulting this payment. Stanbic bank says that Fol Logistics has been a customer under a beneficial mutual relationship since the 21st of January 2014 according to a law suit filed before the Commercial Division…
Read MoreStrongest Currencies on the African Continent
In one of the previous articles, we took a look at the top 5 weakest currencies in Africa and what determines the value of the currency. Alternatively we take a look at the top five strongest currencies in Africa basing on their equivalence to the US dollar. Tunisian Dinar (TD) One USD exchanges for 2.87 TD and this has made…
Read MoreCardless ATM Deposits introduced by DFCU Bank
Dfcu Bank has come out to announce a big tech development with the introduction of cardless ATM cash deposits as the newest digital feature. According to the Bank, this feature will assist both non customers and customers that deposit on any given DFCU ATM centre to the account of ones choice. This is under the recently launched campaign themed ‘Banking…
Read MoreDTB Bank Doomed As Clients Withdraw Their Savings Over Tycoon Ham’s Shs120Bn
There is pandemonium at Diamond Trust Bank (DTB) Uganda! As you read this, sources reveal that several of their clients are withdrawing their savings citing loss of trust and integrity in the bank’s senior executives, after they were accused of illegally siphoning over Shs120Bnn from businessman Hamis Kiggundu aka Ham’s accounts. Senior executives of both DTB Uganda and DTB Kenya…
Read MoreNOT OVER! Court serves criminal summons to Aga khan Boss, DTB Officers in Ham’s case
Turning into an electronic fraud case, Ham’s DTB case has once again escalated swallowing the Aga Khan Founder and Chairman, and more three (3) Diamond Trust Bank Officers in the new criminal summons issued by the Buganda Road Magistrate Court as of 13th September 2021. Those summoned include; Prince Karim, Nassim Muhamed Devji- Group Chief Executive Officer and Managing Director…
Read More4 online banking solutions for a small business
Are you a small business that is trying to embrace online banking so as to simplify things for your clients? Well in case you have been wondering which online banking solutions you can adopt, here are the top 4 online banking solutions you can adopt. 1. Enable credit card payments: Grant your clients the option to pay bills while using…
Read MoreImportance of ATMs in the digital banking era
Automated Teller Machines or ATMs are electronic banking outlets that allow customers to complete basic transactions without the aid of a branch representative or a teller. To transact while using these machines, a client needs either a credit card or a debit card to ensure that they can complete whatever transaction they plan on accomplishing. However, ATMs vary and come…
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