Uganda Bankers' Association

In the digital age we live in, fraud is growing more rampant by the day, making it even more important to stay vigilant. If you suspect any unusual activity in your account, here are the steps to follow to protect yourself. #UBAFinancialLiteracy

Money is often harder to make and all too easy to spend—something we all know too well. To maintain the discipline of saving, it’s essential to put strategies in place, such as aiming to save at least 20% of your income. Building a consistent saving habit is key to long-term financial stability. #UBAFinancialLiteracy

As we wrap up this week, let's unwind with a fun trivia challenge to test your financial savvy! Dive into out trivia question of the day and see how sharp your financial wit is. #UBATriviaQuestion

The Stakeholders committed to continue raising awareness about the alternative dispute resolution mechanism and support capacity building for various sectors to increase utilization of International Centre for Arbitration & Mediation in Kampala.

“This is a strategic partnership that provides a much-needed solution for the private sector. By embracing ADR, we will improve contract enforcement, reduce litigation costs and create a business environment that fosters trust and stability. This will position Uganda’s private sector for growth.” Stephen Asiimwe, CEO Private Sector Foundation Uganda (PSFU).

“The Banking Sector is open to this valuable partnership. Banks are in the business of selling money. Alternative Dispute Resolution has proven instrumental in addressing the various disputes our member banks encounter. By providing a faster and more efficient means of resolving conflicts. ADR has facilitated quick settlements and also contributed significantly to reducing case backlogs in Ugandan courts”. Wilbrod Owor, ED Uganda Bankers' Association.

Speaking at the partnership signing, John F. Kanyemibwa, Interim Board Chairperson of International Centre for Arbitration & Mediation in Kampala, said, “This partnership signifies a pivotal moment for both ICAMEK and PSFU, paving the way for a new era of dispute resolution that will significantly empower Uganda’s business sector.”

PARTNERSHIP ANNOUNCEMENT: On Wednesday, 23rd October, UBA welcomed Private Sector Foundation Uganda (PSFU) as the newest member to join International Centre for Arbitration & Mediation in Kampala (ICAMEK). The ICAMEK - PSFU partnership comes at the right time and will contribute to strengthening the private sector, meeting the needs of Uganda’s Business Community and enhancing Uganda’s Economic Landscape. ICAMEK, provides a reliable and fast alternative to resolving commercial disputes that businesses face in a timely and appropriate manner.

Private sector credit provided by tier 2 and tier 3 financial institutions showed consistent double-digit growth over ten years (between 2010 and 2020), except for 2013 and 2017 with growth rates of 6% and 7%, respectively. However, in 2021, tier 2 and 3 financial institutions experienced a 34% drop in credit with muted growths of 9% in 2022 and 2023. Visit https://lnkd.in/dQSny3Mu to read more. #UBASectorPerformance

In 2023, commercial bank credit grew by 8% to UGX 1.4tn YoY, reflecting a larger YoY than the prior period of 6% This was mainly driven by growth in key sectors including personal and household loans (36%), building, mortgage, construction, and real estate (13%), agriculture (13%), and trade (9%). The credit growth was undermined by a 5% drop in credit to the electricity and water sector in the year. #UBASectorHighlights