Mobile money has become one of the biggest sources of borrowing in Uganda, with millions of people now relying on their phones for quick loans instead of traditional banks.In 2025 alone, Ugandans borrowed at least Shs2.75 trillion through mobile money platforms, highlighting how digital le
Centenary Bank’s top leadership (L–R): Chairman Gustavo Bwoch, Managing Director Fabian Kasi, Executive Director, Business Joseph Balikuddembe, and Executive Director, Operations Michael Opira. The bank is resetting its executive leadership through a dual-Executive Director structure aimed at
Today’s economic hardship is real, with many Ugandans, especially teachers, feeling the pinch. The burden of debt is palpable, and it is affecting the quality of education. With salaries stretched thin, borrowing has become a survival tool. But the cycle of repayment pressure is taking a toll.
Ms. Jackie Namutebi, an official from the Microfinance Support Centre, has challenged leaders of Emyooga SACCOs to focus on improving their SACCOs in order to achieve the presidential vision of fighting poverty in Uganda.She stressed the importance of increasing savings in these SACCOs and
Centenary Bank, the leading microfinance bank in the country and the Office of the Supreme Mufti (OSM) partnered to roll out the OSM Digital Payments Platform, a transformative initiative aimed at facilitating seamless financial transactions within Muslim communities through secure, convenient, a
The Commercial Division of the High Court has ordered Jie County MP, Lokii Peter Abrahams, to pay businessman and money lender Amit Jain nearly 5 billion Shillings for failure to repay a loan taken in 2012.Justice Steven Mubiru ruled that Lokii defaulted on a 265 million Shillings loan, wh
Pallisa MP Otukol Samuel and three others have been convicted for fraud and theft involving public funds in Namisindwa District and await sentencing on April 1, 2026.Hon. Otukol Samuel, the Member of Parliament for Pallisa, has been convicted by Uganda’s Anti-Corruption Court on multiple
Hon Otukol Sam has been convicted by the Anti-Corruption CourtNATIONALThe Anti-corruption Court sitting in Kololo-Kampala has found the Pallisa County Member of Parliament and former Namisindwa CAO and CFO guilty of causing financial loss, theft, and conspiracy to defraud.The
The SACCO administrators led by one Hassan Muhoozi are said to have withhold savings from traders before going into hidingPolice have launched a manhunt for leaders of Kamu Kamu Traders SACCO following allegations that they mismanaged and disappeared with more than Shs 3.1 billion belongin
State Minister for Finance in charge of General Duties, Henry Musasizi, during the presentation for the 2026/27 Ministerial Policy Statement before Parliament’s Committee on Finance.Uganda is set to make history in the 2026/27 financial year with expected oil revenues surpassing Shs2.2 t
