We are already into the third month of 2019 and as it is said often, time waits for no man. The puzzles to solve this year include technology, the global economy, politics – especially the early start of the 2021 election campaigns, cybersecurity, taxation, and fiscal policy, blockchain, Artificial Intelligence, and the new skills required to navigate these topics.

In this issue, we made a deliberate attempt to bring you the latest on each of the topics in question; more on these topics shall be discussed as the year unfolds. In this edition, we follow up on Crane Bank v Bank of Uganda coverage with interesting takes on the recent COSASE report and how it may be a Trojan horse for a new co-regulator of the sector.

Financial technology firms NUMIDA and Pesamoney are doing something new to increase access to formal financial services, read about that in this issue. We also explore why the mortgage industry is performing below par. Feel free to send your feedback, we
always enjoy reading your thoughts.

Time flies when you are having a good time. As we end the year, it is time to close with one final, major win. That win could come from starting a Christmas account. These accounts have been common in the US for a very long time but are scarce in Uganda.
Christmas accounts could just be what the doctor ordered to deal with the dry months of January and February when school fees start to pinch. There have been several movements at the top of certain banks such as Barclays, Tropical and Post Bank; we bring you those details.

In this issue also is a key interview with Emma Mugisha, Stanbic Bank Uganda’s Head of Corporate and Investment (CIB). CIB is one of the key engines behind Stanbic banks dominance. She shares some important insights into the world of corporate banking. 

Also, Uganda’s potential in agriculture has been sung about for a long time now but sadly, not enough empirical information is on hand to exploit this potential. We feature some articles on agriculture and an interview with the Uganda Bankers Association (UBA) top boss to investigate the matter. We also bring you key insights into cryptocurrency and other key sector developments. 
Enjoy.

Facebook has formally announced its entry into the banking industry through its new Libra payment system and cryptocurrency. The social media giants global reach with close to 2.2 billion users could revolutionize banking. The firm and its 27 partner companies and organizations have released a plan for a digital currency meant to bridge the gap between current digital offerings and the future of finance, we bring you some salient details of their plans.

In every issue of the magazine, we will be profiling Uganda’s most tech-savvy millennials and those in Generation Z. In this issue, we profile the 24-year-old Ofoyuru who is manufacturing smartphones and some S.6 vacists who have a technology holding company.

Unregulated financial institutions could damage confidence in Uganda’s entire financial system to Dr. Louis Kasekende, the Deputy  Governor, Bank of Uganda. We bring you his opinion on that issue and more opinions from key opinion leaders. Also included in this issue are key insights from the CEOs of Barclays Bank and Bank of Baroda.  We look forward to reading your feedback

Welcome to the final edition of the Bankers Journal for 2018.
Has it not been an eventful year. The Crane Bank case continues to drag on and has been postponed to 2019, however, the Central Bank is now saddled down with more baggage due to fights with the Inspector General of Government and an impromptu audit by the Auditor General which has fueled fires at parliament. We delve into this Crane bank juggernaut in this issue as we have done in the previous ones. 

We spoke to Anthony Kituuka of Equity about their strategy for 2019; he does mention the banks' plans about e-payments. We
also spoke to Johnson Agoreyo, the UBA CEO about the bank’s 10-year journey. A 2018 survey by PricewaterhouseCoopers (PWC) of 600 executives from 15 territories, revealed that 84% of all organisations have some involvement with blockchain technology. It’s time that Ugandan banks got involved in this blockchain movement through setting up or supporting innovation labs. Gartner forecasts that blockchain will generate an annual business value of more than US $3 trillion by 2030. It’s possible to imagine that 10% to 20% of global economic infrastructure will be running on blockchain-based systems by that same year.

Please take time to read and enjoy this edition.

Welcome to the 5th edition of the Bankers Journal. The main feature of this edition is the debate around mobile money and why leaving the sector unregulated possesses a national security risk.

The largest telecoms in Uganda; MTN and Airtel control large amounts of money transacted as well as the internet and communications apparatus. These are core aspects of the Ugandan economy; if anything where to happen to MTN or Airtel, the amount of contagion on the banking sector and indeed the entire economy would be severe. Consequently, these firms should be listed locally to make them more accountable to the Ugandan public.

The same logic should apply to Absa Uganda and Centenary bank which are systematically important like Stanbic and dfcu which are already listed. These banks should be more transparent. We applaud Equity Bank for marking 10 years and Orient for marking 25 years and wish them both, a long and profitable existence. I hope that you enjoy this edition, even more than the ones before. 

We look forward to reading and publishing your feedback.

We are at the halfway mark of 2018; it is time to take stock and see how far annual targets have been met. This is the best time to create strategies to cultivate growth.

We analyse the impact of blockchain technology, agent banking and bancassurance in this issue of the Bankers Journal. Crane Bank refuses to go away and we discuss why in detail. 

Also included in this issue are key messages from the Governor Bank of Uganda, Prof. Emmanuel Tumusiime Mutebile where he addresses rumours about a rift at the helm of the Central Bank. His deputy Dr. Louis Kasekende also features in this issue, we delve into a keynote speech he made at the Stanbic bank enterprise conference where he urged commercial banks to take a keen interest in the health of Uganda’s Small and Medium Enterprises (SMEs).

Welcome to this edition of the Bankers Magazine. 
It has been an eventful year so far, peppered with the closure of Crane Bank, acquisition of its assets by dfcu and the eventual lawsuit and countersuit. The industry continues to grapple with high costs of business and changing customer preferences which have thrust financial technologies into the forefont of strategies in the financial sector. The increased use of digital systems has brought with it the added risk of cyber-attacks. 

This edition contains discussions on financial technology, cybersecurity, the crane bank saga as well as a profile of Cynthia Mpanga, the Corporate Affairs, Brand & Marketing
Manager, at Standard Chartered Bank Uganda. The mother of three is also the President of the Public Relations Association of Uganda. I trust you will find this magazine both informative and educational.

Welcome to the third edition of the Bankers Journal. 
This time we focus on the oil and gas sector, as well as a bit of mining; the most promising aspects of the Ugandan economy. In addition to this, we still delve into contemporary banking matters.
Some $20b is set to be invested in the petroleum industry by different players; we discuss the opportunities and challenges of the sector. We also spoke to a local player in the sector, Nicolas Mugira about the sector and how Ugandan firms can navigate through it. 

We also discuss how block chain technology could be the solution to a recent break down in correspondent banking. Also included in this issue is the disruption that the Basel III framework has brought to Uganda’s banking industry. 
I hope you find this issue as informative as it is engaging.

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Bankers Journal Magazine - March - May 2019

Bankers Journal Magazine - March - May 2019

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