I&M Bank Partners with ThetaRay to Deploy Full Cognitive AI Financial Crime Compliance Platform Across East Africa.
In a comprehensive regional rollout, ThetaRay’s end-to-end AML platform will be deployed across I&M Group, integrating screening, transaction monitoring, investigations, and reporting to enhance financial crime detection and regulatory readiness
Opportunity Bank, FSMEs empower Mukono SMEs with modern business skills and finance access
MUKONO – Opportunity Bank Uganda Limited, in partnership with the Federation of Small and Medium Enterprises (FSME), has successfully concluded a two-day training-workshop for over 450 small business owners in Greater Mukono. The training, which ended on June 24, equipped Micro, Small, and Medium-sized Enterprises...
Banker convicted of embezzling UGX 124M, laundering funds through fake forex deals
The High Court’s Anti-Corruption Division has convicted a Centenary Bank employee, Alex Kyambade, for embezzling over UGX 124 million and laundering it through fake foreign exchange transactions in a sophisticated fraud scheme involving agency banking and a shadow company.
UGX8.9 Bn Fraud: Nile Breweries Drags Businessman Bobkins Kibirige and Two South Sudanese Former Senior Managers to Court
Nile Breweries Limited has filed a UGX 8.9 billion fraud suit against businessman Bobkins Kibirige, his company Kibo Media, and two former South Sudanese senior managers, accusing them of orchestrating a fake procurement scheme that siphoned off funds under the guise of marketing services. The...
Italy pushes debt relief to stem illegal migration, spur Africa development
Debt relief could boost development in African countries caught in illegal migration of youth into the EU, Italian official states. Already, Italy is leading a spirited push for debt relief, targeting African countries. Italy’s Mattaei Plan seeks to convert some $270.67M of debt into development...
Dutch Mezzanine Impact Lender, Iungo Capital Drawn into another “Foreigners Can’t Lend Here” USD 300,000 Dispute with Ugandan Client
A brewing legal clash between Dutch mezzanine lender Iungo Capital and Ugandan agro-processor Horn Products Ltd has reignited the debate over the legality of foreign lenders operating in Uganda without local licensing. With USD 303,985 at stake, the case mirrors a growing trend of Ugandan...
Coca-Cola Beverages Uganda boosts Rwenzori Marathon with UGX 173M sponsorship
KAMPALA, Uganda – Coca-Cola Beverages Uganda (CCBU) will again be the official hydration partner for the fourth annual Tusker Lite Mount Rwenzori Marathon, the company announced Tuesday.
African leaders call for U.S. tariff reforms, investment-led ties
“It is time to replace the logic of aid with the logic of investment and trade,” says Angolan President João Lourenço. “We should review the high tariffs on African countries. What is needed is more trade between Africa and the U.S., not less,” said AfDB...
Pride Bank unveils five new products in strategic expansion
KAMPALA, UGANDA — Pride Bank, formerly Pride Microfinance has Tuesday launched five new financial products, expanding its offerings as a Tier II credit institution licensed in November.
Revealed: Coca-Cola’s $10.4 billion ripple effect across African economies
Across 54 African markets, Coca-Cola contributed $10.4 billion in economic activity across its value chain in 2024. The beverage giant’s value chain supported over 1 million jobs in retail, agriculture, manufacturing, transport and services in Africa. Soft drinks maker purchased $4.3 billion from suppliers in...
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