Financial inclusion: Is Uganda on track?

Financial inclusion is the new buzzword in international development. From promoting Bonabasome, bonobagagawale programs to fighting income inequality are we heading for more political processes that are more inclusive and representative in Uganda. A story is told about the Economists in the Ministry of Finance who devised a strategy to support four children per family

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Banking is being redefined

MTN Nigeria has formally penetrated the financial services sector in a big way. As Nigeria’s leading telecom company, this new development should be of concern to traditional financial institutions. According to Premium Times, a news website, “MTN Nigeria has announced that its subsidiary, Yello Digital Financial Services Limited (YDFS), a subsidiary of MTN Nigeria,  was

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IFRS 16 services

Attached find our IFRS 16 services offering for your ultimate reporting and compliance. On 20th February 2019, the Central Bank of Uganda issued an Instruction Circular ‘EDS.306.2’ to Supervised Financial Institutions (SFIs). All SFIs are required to comply with IFRS 16 by 31st July 2019. As part of the regulatory requirements, SFIs must complete an

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In the age of the giants

For long, Uganda’s number one spot in the banking sector has been awarded to the financial institution with the biggest net profit (profit after tax) and bank assets. On 21st October 2016, Uganda’s once mighty local bank; failed Crane Bank, third largest by bank assets was placed under statutory management by the regulator; Bank of

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