Day: July 18, 2019

Banking sector report 2019

UGANDA’S economic weather tends towards extremes. During the Financial Year 2018, five (5) banks were loss making. Bank profits were slumped due to the effect of the adoption of Financial International Reporting Standards Nine (IFRS 9). The year has been described as a ‘difficult year’. Amidst the heated banking landscape, Summit Consulting Ltd’s Business Intelligence …

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Fraudsters preying on insurance industry

At one of insurance sector Chief Executive Officers’ breakfast at the Sheraton hotel, members were astounded to learn that a certain fraudster had somehow maneuvered his way around the industry and insured a tired-looking, old, Mercedes Benz with four insurance companies and had collected from all in contravention of insurance policy.” The lack of strong …

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