Finance

Uganda has in recent months experienced a growth in the number of fintech companies. On December 22, 2022, Uganda had 24 payment service providers and payment system operators. By February 3rd 2023, another operator, Velox Solutions Corp joined this list through its official launch. Acting director National Payment Systems at Bank of Uganda expressed joy at the rapid growth of ...

Diamond Trust Bank customers are set to receive up to 25% discount on any payments using the new DTB platinum debit Mastercard. Kariuki Jemima, the Director in Kenya in charge of products and solutions at Mastercard spoke during an NBS Business Twitter space. She said the benefits of the new cards circle around three main pillars including travel, peace of ...

Uganda Revenue Authority has registered a sh210.02 billion surplus on Pay as You Earn (PAYE) for the period July 2020 to April 2021. This happened as a result of the public sector recruiting and promoting employees. Apparently, the authority also registered an increase in PAYE collections by sh61.91 billion. This increase was attributed to the payment of bonuses and higher ...

During its last trading session last week, the Ugandan shilling remained on the back foot, touching the technical levels of 3605/3615. The shilling received pressure from substantial demand for dollars from commercial banks, the energy and manufacturing sectors. There seemed to be a similarity between the local unit trend and its peers in the region. The Kenyan and Tanzanian currencies ...

The Ministry of Finance has joined hands with the Bank of Uganda and the Uganda Bankers Association to launch a recovery fund for SMEs. The bodies launched a shs 200 billion to pull back afloat small and medium enterprises that were affected by Covid-19. During the launch on Tuesday, Matia Kasaija said the recovery fund will assist Uganda’s business community ...