Wilson M. Nguyo

Just like all banks are overseen by the Bank of Uganda, Tier 4 Microfinance Institutions, including SACCOs, Non-Deposit Taking Microfinance Institutions, and Money Lenders, are monitored by UMRA to ensure fair and transparent practices. #WeGuideYouProsper

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Join us for an insightful webinar session with our Group Managing Director, Dr. 'Tunde Popoola, on the impact of credit bureaus on cooperative loan portfolio management. See you there! #creditreport #cban #credit bureau

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Join us for an insightful webinar session with our Group Managing Director, Dr. 'Tunde Popoola, on the impact of credit bureaus on cooperative loan portfolio management. See you there! #creditreport #cban #credit bureau

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SAMED is EMPOWERING MEMBERS TO EMPOWER THEMSELVES! Members are invited to participate in an update session on SAMED activities undertaken to address the compounding public sector debt. The Market Access Forum has invited Ernest Rakubu from NDoH to engage and respond to questions about the debt. Is your company experiencing the pain of outstanding payments from the public sector? Register and attend the forum to empower yourself to tackle this challenge head-on. #marketaccess #publicdebt #medtech #samed #forum

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Why is Guaranty Trust Holding Company Plc (GTCO Plc) more valued than Access bank despite having similar earnings per share? Join the conversation in the comment section below Click the link https://lnkd.in/eZwkknqU to watch the full video #nairametrics #followthemoney #nmfollowthemoney #finance #wealth #share #stock #market #bank #business #investors #radioshow

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KCB Bank Group and Absa Bank Kenya are grappling with substantial financial exposure in Savannah Cement, totaling Sh14.12 billion, after the cement company was placed under administration in November 2022 due to five consecutive years of losses and escalating debts. KCB is owed Sh8.89 billion, while Absa's exposure is Sh5.23 billion, part of which is in U.S. dollars. Savannah Cement, which has seen its financial struggles deepen from a Sh78.89 million net loss in 2018 to Sh2.5 billion in 2022, now faces a long and uncertain recovery path. The company's administrator, Peter Kahi of PKF Kenya, has indicated that any turnaround would take over a decade and could further harm creditors, with the firm's total debts amounting to about Sh18 billion. Kahi's proposed solution involves leasing Savannah's assets to preserve value before potentially selling them, as liquidation would likely result in significant losses for unsecured creditors. This situation underscores broader challenges faced by banks with investments in the cement industry, as seen with previous issues at ARM Cement and East African Portland Cement.

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Don't miss out on owning a part of NCB! JN Fund Managers is a Selling Agent for the NCB Financial Group Limited Additional Public Offer (APO). The deadline has been extended to June 3, 2024, so act fast to secure shares at J$65.00 per New Ordinary Share. Visit www.bloomjnfm.com to get started today! #JNFundManagers #Investment #bloomjnfm

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Make your weekends count by investing with Etica Capital. With as little as KES 100, you can start building a brighter financial future. Don't miss out on the opportunity to grow your wealth, even on weekends! Have a fantastic weekend ahead! For More Information Call / WhatsApp 0769 999666 or Visit www.eticacap.com #InvestWithEase #EticaCapital #EticaRevolution #WealthTech #Fintech #InvestWithEtica #WeekendInvesting #GrowYourWealth #FinancialInclusion

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The Stanbic Bank Uganda Purchasing Managers' Index is compiled on a monthly basis by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 private sector companies. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. The sectors covered by the survey include agriculture, mining, manufacturing, construction, wholesale, retail and services.

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As you prepare for the weekend, remember that responsible spending today can lead to greater opportunities tomorrow. Instead of splurging, consider investing with Etica Capital from as low as KES 100/= and watch your savings grow. Have a fantastic weekend! For More Information Call / WhatsApp 0769 999666 or Visit www.eticacap.com #InvestWithEase #EticaCapital #EticaRevolution #WealthTech #Fintech #FinancialInclusion

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Uganda's banking industry in 2023 grew, albeit at a slower rate than it did in 2022. 📌Amongst the top 5- Stanbic Bank and Centenary Bank retained their positions as the first and second largest banks by deposits, lending, income, assets and profits respectively, albeit with mixed growth rates. 📌Absa Bank consolidated its third position with key growth across the board. 📌Equity Bank is now Uganda's 3rd largest bank by deposits, 4th largest by assets, lending and income. 📌Standard Chartered Bank is the 5th largest by assets and profitability and the 6th largest by income and lending. For the full industry rankings by deposits, lending, income, profitability and assets click the link below. https://lnkd.in/dwnKFf82

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Stanbic Bank Kenya marks a 2.7% growth in Q1 net profit, reaching Sh3.9 billion, showcasing resilience despite economic challenges. The bank's strategic cost management mitigated a decline in operating income, demonstrating prudent financial management. Despite a drop in total operating income by 8.2%, net interest income surged by 18.5%, buoyed by increased earnings from loans. This underscores the bank's ability to adapt to changing market dynamics, particularly in interest rate revisions and risk-based pricing. However, forex trading income witnessed a significant decline by 45%, reflecting the impact of stabilized local currency volatility. This shift underscores the evolving landscape for financial institutions in Kenya. Overall, Stanbic Bank's performance underscores its commitment to financial resilience amidst market fluctuations. As the flagship subsidiary of Stanbic Holdings, the bank remains a key player in Kenya's financial sector, poised for continued growth and innovation. #StanbicBank #FinancialResilience #BankingIndustry #KenyanEconomy #Hakunamatatamedia

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KNCCI President, Dr. Erick Rutto, accompanied by the CEO, Mr. Patrick Nyangweso, held a partnership meeting with KCB Bank Group CEO Paul Russo and KCB Bank Kenya Managing Director Annastacia Kimtai to review and enhance their longstanding partnership. Key strategic areas for collaboration included: 1. Regional Capacity Building for Women: Financial inclusion and sensitization forums focused on SMEs 2. Joint Trade Missions: Leveraging the established Biashara Clubs 3. Support for Women and Youths in Mining: Providing modern equipment and safe extraction methods 4. Dual Skills Development for Youths 5. Agribusiness Support Programs: Initiatives like "Mifugo ni Mali" 6. Digitization and Formalization of Small Enterprises: Collaborating with county governments 7. Joint Resource Mobilization for SME Support Programs 8. Enhancing Export Competitiveness: Utilizing KNCCI satellite offices in Hunan, China, UAE, and the USA 9. Supporting Women Enterprises: Through county aggregation, industrial park value chain integration (CAIP) KNCCI chapters would play a crucial role in realizing these initiatives. #Partnerships

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The Kenya Commercial Bank (KCB) has announced an upward revision of its base lending rate to 15.6% per annum. The revision is effective May 27, 2024 – an uptick from the previous rate of 14%. For existing loan facilities, the new rate will come into play starting July 1, 2024. The revision is not isolated, as it follows a trend seen across the banking sector, with other institutions like NCBA and Equity Bank also increasing their rates in recent months. These adjustments are largely in response to the Central Bank Rate (CBR) hikes, aiming to balance the banks’ risk and profitability. https://lnkd.in/dgCgq9W2

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Nigeria’s Access Bank Plc has acquired African Banking Corporation of Tanzania (ABCT) as it deepens its roots in East Africa and continues its continent-wide expansion. It will merge ABCT with Standard Chartered’s consumer, private and business banking subsidiary in Tanzania, which it also recently acquired. “This acquisition aligns with Access Corporation's vision of becoming the Most Respected African Bank in Africa and the entry into Tanzania brings the bank closer to a near-term strategy of targeting local, regional and international revenue opportunities across trade, payments and specialized commerce for business and retail customers within the East African region.” Speaking about the acquisition, Roosevelt Ogbonna, Managing Director of Access Bank, said: “This strategic move represents a notable step towards setting a railroad in Tanzania for intra-African trade within the East African region, Africa and the rest of the world.” Via TechCabal. https://lnkd.in/dphWDZ6P #financialservices #banking #acquisition #mergers #africa

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Standard Bank’s Growth Conversations Platform is designed to inspire economic growth by harnessing innovative solutions through collaboration. The platform opens meaningful dialogue by industry leaders and policymakers to discuss Malawi's economic future. Here is what National Planning Commission (NPC) Director General, Dr. Thomas Munthali had to say about Growth Conversations. #GrowthConversations #DrivingMalawisGrowth

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