Specialist banking exchanges develop to Shs2.2 trillion

Transaction volumes thru shared agent banking have grown to a month-to-month common of Shs 2.2 trillion, in accordance with Uganda Bankers’ Association (UBA).The boom marks a shift in economic moves that had formerly been dominated via regular banking measures, including, over the counter transactions, cheques and different transactional mediums. Agent banking, Internet banking and cell cash have been essential revolutions in cash motion and are possibly to supply Uganda a cashless financial system that had been absent over the years. Currently, UBA, which launched agent banking in 2018, is working on a shared platform via which all banks can transact via a single agent. The platform, UBA says, presently transacts an common of Shs 2.2 trillion per month and has collected greater than 12,154 dealers at the moment. UBA stated at least 9 banks…

Read More

GO BIG HUB; connecting investors to SMEs and Micro projects

Their beginning was accidental in 2005 when they financed a lady to make and sell Kabalagala (pancakes). Pascal Ojijo, a lawyer and founder of the Go Big Hub says that the investment was small, only sh60,000, but the return was high. “I think we made above 20% return in a mere 3 weeks, which then became an eye-opener,” he said. Consequently, he financed another lady to grow Nakatti for selling, which she later sold to a local trader in Mukono. This time he invested sh75,000. Today, the Go big Hub…

Read More

Understanding Cryptocurrency

Finance Minister Matia Kasaija recently issued a strong warning to Ugandans investing in cryptocurrencies, saying the government does not recognize them and citizens are on their own. However, Stuart Naturinda, a Cryptocurrency enthusiast shares why he thinks that the nascent field is worth exploring. We bring you his thesis below. War, greed and most injustices in society have their roots in the never-ending hunger for money. But what if there was a way to increase the supply of money? That’s why Bitcoin was “invented” in 2009. Satoshi Nakamoto, the inventor…

Read More