Standard Chartered Bank Uganda in partnership with Uganda Banker’s Association has spearheaded industry discussions on Information and Cyber Security (ICS) as a principal risk type arising from the digital and technological revolution. The session was attended Heads of Operations, Heads of Information Technology, Heads of Compliance, Heads of Risk Management and Audit as well as […]
Somalia has invited Turkey to explore for oil in its seas. Turkey President Tayyip Erdogan confirmed the invitation and said his country would take steps in line with the approach. “There is an offer from Somalia. They are saying: ‘There is oil in our seas. You are carrying out these operations with Libya, but you […]
The submarine cable linking the coast of East Africa has officially landed in La Siesta Beach in Djibouti and the marine installation is underway. The 5,400-kilometer cable system dubbed the Djibouti Africa Regional Express-1 (DARE1) will link Djibouti, Mogadishu, Mombasa and Bosaso, and will deliver a capacity of up to 30 terabits per second. It […]
Total Uganda Limited and Stanbic Bank Uganda have announced a partnership that will see customers with prepaid Total Fuel Cards top-up more conveniently at over 1,500 Stanbic Agents across the country. This is just one of many benefits yet to be enjoyed by Total card users who will in the future have the option of […]
Cabinet has approved the appointment of former Deputy Chairperson of the Uganda Electoral Commission Joseph N. Biribonwa as the new Chairperson of the National Identification and Registration Authority(NIRA). Biribonwa, who was until recently the Vice-Chairman University Council of Victoria University Uganda and also the Chairperson National Initiative for Civic Education in Uganda (NICE-Uganda), got the […]
Kaspersky security researchers have reported on thousands of notifications of attacks on major banks located in the sub-Saharan Africa (SSA) region. The malware used in the attacks indicates that the threat actors are most likely to be an infamous Silence hacking group, previously known to be responsible for the theft of millions of dollars from […]
Platform makes limited changes to its stance on political adverts but still refuses to ban ads that are misleading or spread lies. Facebook is once again at the centre of the storm about its refusal to ban political adverts on its platform that are either untruthful or spread lies. The social networking giant announced some […]
Remittances are a major source of foreign cash inflows for most developing countries. The year 2019 has seen tremendous growth with some countries reporting an increase of up to 4.24% in remittances. The World Investment Report for 2018 showed that global remittances stood at $466 billion in 2017, which is beyond the other sources of […]
SWIFT has announced the opening of its global Know Your Customer (KYC) registry to SWIFT-connected corporate groups, enabling them to manage and share KYC data with their banking partners across the globe. The go-live for corporates follows a successful testing period with 18 leading corporate groups including BMW, Spotify and Unilever which was supported by […]
Somaliland government is putting in place regulation on technical connectivity between telecommunication companies. The Minister of Communications and Technology Abdiwali Sheikh Sufi said in Hargeisha that while there have been some hurdles to implement this, the government has set a target that it must be enforced by next year. “It was tried twice and both […]
Vodacom Tanzania has partnered with online money transfer service WorldRemit to enable ten million M-Pesa customers to receive money directly to their M-Pesa wallets from friends and family living abroad. The new service increases convenience for money transfer recipients in urban and rural areas of Tanzania as they can receive international money transfers directly to their […]
Discussions about “sustainability” usually centre on a company’s environmental and social commitments, and for understandable reasons. But the financial sector, in particular, should consider two other, less obvious, dimensions of sustainability. Regulatory sustainability is essential for addressing the systemic risk that the financial sector poses to our societies. In addition, the emerging new frontier of […]
Kiira Motors Corporation, a local vehicle manufacturing company in Uganda conducted a successful 130Km road test for a flagship model city bus ( Kayoola EVS), from Nakasongola to Kampala, to celebrate the Golden Jubilee of Engineering in Uganda. The road test was flagged off by the Ugandan Minister for Science, Technology, and Innovation, Hon Dr […]