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Seven lucky customers win big at Stanbic Bank Xmas trolley dash finale

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Stanbic Bank concluded its Xmas promo organised to promote increased usage of digital channels and cashless banking by holding the 2nd and final trolley dash for seven lucky customers at Quality Supermarket in Naalya. The winners Martin Lutaaya, Jerome Birungi, June Nyakahuma, Steve Daniel Katongole, Amos Kiyingi, Bashir Aliyu Yakasai, and Racheal Phoebe Kabejja picked shopping items worth thousands of shillings in the 60 second dash.

Speaking at the conclusion of the dash, Stanbic’s Banks Card Payments, Issuing & Acquiring Manager, Damalie Sajjabi thanked the bank’s customers who participated in the promotion. She said, “This is a positive sign that more and more Ugandans are appreciating the value of using credit and debit cards as opposed to cash which can be risky to carry. This is the main reason why we are rewarding and encouraging our customers to use cards as a payment alternative”.

L-R: Jerome Birungi ,June Nyakahuma, Bashir Aliyu Yakasai, Martin Lutaaya and Racheal Phoebe Kabejja were among the 7 lucky winners of the final 60seconds trolley dash at the Quality Supermarket Naalya.

L-R: Jerome Birungi, June Nyakahuma, Bashir Aliyu Yakasai, Martin Lutaaya and Racheal Phoebe Kabejja were among the 7 lucky winners of the final 60 seconds trolley dash at the Quality Supermarket Naalya.

Talking about some of the bank’s other strategies and initiatives to promote the increased usage of debit and credit cards, Damalie noted that Stanbic already has the largest ATM network in the country with over 170 strategic locations backed up by 493 Visa enabled POS machines in all the major malls, restaurants, shops and supermarkets. “We plan to significantly increase this number as well as further integrate our online platforms with customer accounts so clients can do all their banking at a time and place of their convenience. Our objective as a bank is to make it as easy as possible for our clients to transact by putting them increasingly in control of their overall banking experience, digital channels give us that possibility which is the reason why we have invested so much in its development,” she explained.

Credit and debit card usage increased during the promotion season, Stanbic Bank registered a growth of 70% in transactions compared to months prior the festive season. The Bank also noted that more of the outlets should engage in promoting use of credit and debit cards because the growth numbers were an indicator of a mind-set change to cashless banking.

According to Dr. Fred Muhumuza a development Economist, “The growth of plastic money usage in Uganda remains low because of a number of challenges which include a lack of POS machines and ATM located almost exclusively in urban areas. It is therefore imperative for banks to promote cashless banking through a combination of awareness and development of linkages with other payment platforms such as mobile money.”

The Stanbic Xmas dash organised through the bank’s social media platforms was open to all Visa and Mastercard – Local and International debit and credit card holders as well as prepaid cards. To enter, all customers had to do was to make a purchase of a minimum UGX 50,000 at one of the Banks partner outlets, take a selfie then like the Stanbic Bank facebook page (@Stanbicug) and or follow the bank on Twitter (#StanbicXmasDash).

The participating outlets by category were: Restaurants; Café Javas, Mythos Greek Taverna, The Bistro, Piato Restaurant, KFC, Pizza Hut, Riders Uganda Ltd, and Eucupirien-Kololo, Supermarkets; Game Lugogo, Quality, Capital Shoppers, Nakumatt, Embassy, Jazz, Risko Kids, and Pep Store, Hospitals; Nakasero Hospital, Pan Dental Surgery, and Dr. Agwarwal Eye Hospital, Fuel stations; Total and City Oil, Air Travel; Rwandair Kampala.

“We plan on organising many more initiatives with fantastic prizes and incentives to promote cashless banking so I encourage our clients to follow us on social media and continue using their visa and mastercard debit and credit cards,” Damalie concluded.

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Local Business

Coca-Cola Beverages Africa Uganda invests $8.35Million in brand new manufacturing line

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The official grand breaking of the Manufacturing bottle Line.

The official grand breaking of the Manufacturing bottle Line.

Coca-Cola Beverages Africa (Uganda) officially broke ground for a brand new US$8.35million (UGX 30.7billion) Manufacturing Line to bottle more on Friday.

The new bottling line at the Coca-Cola Beverages Africa (Uganda) Namanve site operated by Century Bottling Company will have a capacity of producing 24,000 bottles an hour, accelerating the production of natural mineral water to refresh and rehydrate Ugandans.

The US$8.35million (UGX30.7billion) investment will bring to Uganda the newest bottling line technology out of Germany, enabling the Company to innovate further for increasingly changing consumer demands.

The investment is part of a US$15 Million investment plan Coca-Cola Beverages Africa has for Uganda alone in 2018.

Minister of State for Investment and Privatisation, Hon. Evelyn Anite, officiated at the ground-breaking ceremony after conducting a tour of the Namanve Plant and welcomed Coca-Cola Beverages Africa’s additional investments.

She lauded Coca-Cola Beverages Africa for focusing on Uganda and spending the bulk of the US$8.35million (UGX30.7billion) within Uganda to benefit citizens and support the economy.

“Of this, I am told US$3.5million will be spent inside Uganda on civil works and construction and auxiliary services. That is a very significant amount for many reasons. First of all, that means that the bulk of the investment that we are launching today is going to be spent inside our own country and will directly benefit Ugandans. That fits well within our ‘Buy Uganda, Build Uganda’ policy and I applaud you for that. Also, your investment in a new Manufacturing Line creates more jobs for very many categories of Ugandans – which fulfills the NRM pledge to create more jobs and wealth especially for the youth of Uganda,” she said.

“As Government, we acknowledge and thank Coca-Cola for being a development partner of Uganda. On top of these investments, you also pay taxes – I understand you paid UGX140billion in taxes last year. This is a highly significant amount and we look forward to seeing it increase once this new investment begins to bear results. During the tour of the facility, it was gratifying to see the quality of your equipment and to note that you have two other bottling facilities in Uganda, and that you are still setting up more. By bottling high quality international brands in Uganda you are promoting the economy within Uganda and also promoting the country internationally,” she added.

Ag. Managing Director, Mr Patrick Oyuru assured guests of the investment commitments of Coca-Cola Beverages Africa (Uganda), which runs three subsidiaries bottling Coca-Cola products (Century Bottling Company), pure natural mineral water (Rwenzori Bottling Company) and recycling plastic waste taken from the environment (Plastic Recycling Industries).

“We employ about 1,800 Ugandans in our three plants in Kampala, Mukono and Mbarara, and support more than 90,000 businesses across our extensive retail distribution network. Coca-Cola Beverages Africa is proud to make these contributions on top of paying taxes to the tune of more than UGX140billion annually. We are serious about doing business in Uganda and supporting this economy,” he said.

He added that the investment in the brand new US$8.35million Manufacturing Line was a strong demonstration of Coca-Cola Beverages Africa Uganda`s commitment to the development of Uganda despite the tough economic conditions.

“Because of this new Manufacturing Line, our 1,800 employees and hundreds of thousands of other Ugandans involved in selling our high quality products around the country will be assured of ongoing employment because production will increase. As well, the biggest bulk of this investment will be spent inside our own country and will directly benefit Ugandans. This fits well within the “Buy Uganda, Build Uganda” policy that Government is advocating. The new will create more jobs for various categories of Ugandans – which fulfills the Government pledge to create more jobs and wealth especially for the youth. This includes employees during the construction as well as additional employees when the new line is completed. We are happy to be contributing to the development of Uganda,” he added.

CCBA management emphasized that the Company will continue to be a relevant partner with Government and called upon the officials to ensure they work to limit the challenges private sector faces in doing business

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StarTimes announces it will broadcast the 2018 FIFA World Cup in Russia.

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StarTimes has today confirmed it will broadcast all the 64 FIFA World Cup matches live and in HD. StarTimes acquired media Pay-TV broadcasting rights for the Sub-Saharan Africa to broadcast the World Cup and the theme will be “ALL 64 MATCHES IN HD AND LIVE”.

StarTimes Vice President also Brand and marketing manager Aldrine Nsubuga stated “Our current market leadership with close to 1.4 million subscribers guarantees that the 2018 FIFA WORLD CUP RUSSIA will now be enjoyed by many more households than the previous ones. This is excellent news to millions of television owners in Uganda who couldn’t watxh the World Cup due to high cost of acquisition and subscription.”

The world cup will broadcast on StarTimes on four dedicated channels which are World Football, Sports premium, Sports Life and Sports focus.

StartTimes was launched in 2010 and is now the leading digital TV operator in Uganda with 1.4 million subscribers.

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Local Business

Stanbic Bank recognised as best performing primary dealer for 2017

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Patrick Mweheire, Chief Executive of Stanbic bank receives award of recognition for the best performing commercial bank trading in the Government securities from Governor Bank of Uganda, Emmanuel Mutebile.

Patrick Mweheire, Chief Executive of Stanbic bank receives award of recognition for the best performing commercial bank trading in the Government securities from Governor Bank of Uganda, Emmanuel Mutebile.

For the 7th consecutive year, Stanbic Bank Uganda has been recognised by Bank of Uganda as the best performing commercial bank trading in the Government securities. (Treasury Bills and Bonds)

The award honours financial institutions that promote participation in trading in government securities in a bid to foster the development of financial markets and improve the secondary market trading system.

Accepting the award on behalf of the bank, Stanbic Bank CE Patrick Mweheire said, “As the most active participant in the secondary trading market Stanbic bank plays a critical role supporting Uganda’s economic growth and national developmental agenda. Last year alone Stanbic bank accounted for 30% of the 5.1 trillion shillings in Government securities traded on the secondary market.”

He also noted that the bulk of these funds are used to finance construction of much needed national infrastructure projects so vital for trade and economic transformation.

Handing over the award at BOU headquarters in Kampala, the Governor BOU Emmanuel Mutebile said, “I wish to acknowledge the role that this year’s award winner Stanbic Bank Uganda Ltd has played especially for participating in the primary auctions, market making capabilities, consistent pricing as well as timely market intelligence. Because of their effort, they have been able to ensure efficiency in the operations related to the Government securities market at the central bank.”

The 5.1 Trillion in turnover of Government securities in 2017 represented a 29% increase from 2016. In the same vein, the ratio of secondary market turnover to the total outstanding stock of Government Treasury securities increased significantly to 41.0% in 2017 from 28.9% in 2016.

Launched in 2005, the Primary Dealer (PD) system aims to promote participation in Uganda Government securities markets, to foster the development of financial markets, to improve the secondary market trading system as well as to ensure efficiency in the operations related to the Government securities market at the central bank.

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