U.S-based Financial services; Fitch Rating, has assigned Uganda Development Bank (UDB) a Long-Term Issuer Default rating (IDR) of B+ with a Stable Outlook. A credit rating is an assessment of the creditworthiness of a borrower in general terms or with respect to a particular...
Standard Chartered today announced the start of the second phase of its digital-only retail bank across Africa. In response to growing consumer demand for innovative banking services on the continent, the Bank will launch its digital solution in four key markets during the first quarter of 2019...
Western Union last week announced an alliance with TerraPay to enable mobile wallet and bank account payout. The alliance further expands upon Western Union’s account payout network for sending remittances directly into customers’ mobile wallets across Europe, Africa, Asia and Latin America. TerraPay’s low-value payments network connects financial instruments internationally. The...
The health of Uganda’s Private Sector continues to improve on the back of a rise in output in several sectors of the economy. This is according to the Stanbic Purchasing Managers’ Index for the month of November which recorded at 55.7 above the 50.0 reading signaling improvement in business...
ACI Uganda over the weekend announced a new partnership with its members as well as different stakeholders to give back to the community. ACI Uganda’s membership consists of dealers in the treasury departments of commercial banks. The members of ACI Uganda, through the 24 commercial banks in the country, drive...
Stanbic Bank on Friday 23rd, November awarded graduation certificates to 420 entrepreneurs from 119 Small and Medium Enterprises (SMEs) through its business incubator. This is the second cohort to graduate since the incubator was launched earlier this year. The first cohort saw 94 entrepreneurs from 34 businesses graduate. Therefore making...
Stanbic Bank has handed over UGX250 million to MTN Uganda as its contribution towards the 2018 MTN Kampala Marathon. Accepting the contribution was MTN Uganda's Chief Executive; Mr. Wim Vanhelleputte. The handover was done at Stanbic Bank, head offices on Crested Towers. The Bank has been a key long-term partner and...
Two university students; Dalton Bakisuula and Martin Mugisha from Kyambogo and Makerere universities respectively who are currently pursuing a Bachelors degree in Applied Electro-Chemistry became the proud inaugural participants of an initiative spearheaded by Uganda Development Bank (UDB), in collaboration with the European Organization for Sustainable Development (EOSD). The two students are the...
MTN Uganda in partnership with Mastercard and United Bank for Africa (UBA) have announced a new service that will enable quicker, safer and more convenient online payments globally.  Through this partnership, MTN MoMo customers will use a virtual card to shop or make payments at the vast network of...
Government revenue collection agency; the Uganda Revenue Authority (URA) on Wednesday recognized Stanbic Bank for being among the top key tax payers in Uganda - ahead of the Authority’s tax appreciation which aims at paying accolades to tax payers who pay their dues in time. The bank (stanbic) is currently the...