Stanbic Uganda Holdings Limited (SUHL), the parent entity of Stanbic Bank Uganda, SBG Securities, Stanbic Business Incubator, Stanbic Properties, and FlyHub, has delivered an outstanding financial performance for 2024, showcasing resilience and strategic agility in a dynamic economic landscape. The institution reported a strong profit after tax (PAT) of UGX 478 billion, reaffirming its key role in shaping Uganda’s financial ecosystem. This announcement was made today at a high-profile press conference attended by key executives, clients, and industry stakeholders, including SUHL’s Chief Executive, Francis Karuhanga, and Ronald Makata, the Chief Finance and Value Management Officer. Despite global economic uncertainty, Stanbic…
Author: Rising Nation
Kampala’s latest flooding incident has once again underscored the urgent need for coordinated efforts to address the city’s drainage and environmental management challenges. The devastation caused by heavy rains, which resulted in significant property damage and traffic paralysis, calls for proactive solutions to prevent future occurrences. Addressing this crisis requires a multifaceted approach that integrates regulatory enforcement, infrastructure improvement, public-private partnerships, community involvement, and enhanced disaster preparedness. The Kampala Capital City Authority (KCCA) has been at the forefront of efforts to transform the city’s drainage and flood management systems. Over the years, infrastructural challenges such as inadequate drainage networks, encroachment…
The East African Crude Oil Pipeline (EACOP) project has reached a significant milestone with the successful closure of its first tranche of external financing. This landmark achievement, facilitated by a consortium of regional and international financial institutions, underscores the strategic importance of the project in fostering economic development and energy security in East Africa. Strategic Financial Backing and Regional Investment EACOP Ltd., the entity overseeing the pipeline’s construction and future operations, has secured financing from a syndicate that includes the African Export-Import Bank (Afreximbank), The Standard Bank of South Africa Limited, Stanbic Bank Uganda Limited, KCB Bank Uganda, and The…
President Yoweri Kaguta Museveni yesterday hosted the Muslim community for an Iftar dinner at State House Entebbe. During the dinner, the President congratulated the Muslims for successfully fasting during the holy month of Ramadan. “We are left with only a few days for Ramadan to end. We pray that God keeps us safe until the end,” he said. President Museveni also urged believers that as they worship God, they should also think about working towards improving their household incomes. “You the religious leaders, I think you should begin helping your people to develop the thinking of worshipping and working as…
In Iganga, located in the heart of the Busoga Sub-region, a transformative movement is quietly reshaping the economic landscape. Women entrepreneurs, historically constrained by financial limitations, are now emerging as formidable players in the business sector, owing to Equity Bank Uganda’s groundbreaking initiative, Abakyala ku Ntiiko. Equipped with knowledge as their most valuable asset and propelled by an unyielding determination, these women are redefining their financial trajectories. Now in its second edition, Abakyala ku Ntiiko is meticulously designed to instill both the skills and confidence necessary for effective business management. Since its inception in March 2024, the initiative has generated…
Uganda’s water sector has witnessed significant strides, yet sustaining this momentum requires a transformative mindset and a strategic approach. This was the resounding message delivered by Dr. Silver Mugisha, Managing Director of the National Water and Sewerage Corporation (NWSC), during the National Water and Environment Week 2025 held at the Ministry of Water and Environment headquarters in Luzira on Friday, 21 March 2025. Speaking under the theme Water and Environment Resources for Enhanced Resilience and Improved Income and Livelihoods, Dr. Mugisha underscored the need for a paradigm shift, asserting that technical expertise alone is insufficient. He emphasized that success hinges…
President Yoweri Kaguta Museveni has tasked Ugandans to sack all corrupt members on the Parish Development Model (PDM) committees. He argued that the citizens should not compromise with anyone messing up the program that was initiated to enable them join the money economy and fight poverty. The President made the remarks today while addressing a public rally at Kahunde Playground – Isunga sub county in Kagadi district. The rally was part of the Presidential performance assessment tour on wealth creation and PDM in Bunyoro Sub-region. “You should own the PDM initiative right from its administration to its reach and take…
Doha, Qatar – A crucial diplomatic initiative unfolded in Doha as President Félix Tshisekedi of the Democratic Republic of Congo (DRC) and President Paul Kagame of Rwanda engaged in high-level discussions concerning the ongoing conflict in eastern DRC. A formal communiqué issued following the meeting emphasized the significance of the engagement: “To advance efforts aimed at stabilizing the eastern region of the Democratic Republic of Congo, the State of Qatar facilitated a trilateral dialogue in Doha on Tuesday, 18 March 2025.” The statement further specified that His Highness Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar,…
President Yoweri Kaguta Museveni has pledged government support to Mr. David Irumba, a successful agribusiness entrepreneur based in Bulera East Cell, Kyentale Ward, Hoima East Division, Hoima City. Mr. Irumba expressed gratitude to the President for granting his request for a visit, acknowledging the role of Uganda Development Bank (UBD) in financing his startup through a loan. He credited government initiatives for his growth, citing access to electricity and improved road infrastructure as key enablers of his business. Mr. Irumba who is the proprietor of Keywood Group limited also challenged Ugandans to stop overlooking opportunities created by the government, especially…
President Yoweri Kaguta Museveni has today urged beneficiaries of the Parish Development Model (PDM) to take full responsibility for the funds they receive, emphasizing that the program is a direct investment in their economic empowerment. “This PDM is your bank. It is not a handout, but a revolving fund meant to uplift you from poverty. Those who have received the money must ensure it is put to good use and repaid after two years so that others can also benefit,” President Museveni stressed. Speaking in Kimbugu Village, Kabwoya Sub-County, Buhaguzi County, Kikuube District, where he visited PDM model farmer Mr.…
