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There are few companies that make instant impact in an economy like MTN Uganda

Since the official launch in Uganda on October 21st 1998, MTN has been undisputed market leader, top innovator and a company of firsts. As the top tax payer for several years in a row, MTN has been at the center of Uganda’s economic growth and transformation. At SummitBusiness magazine and Summit Consulting Ltd, we have seen it all, wrote about it and partaken in it.

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In his keynote budget speech 2016/17, the President said that telecoms are evading taxes by under-declaring their revenue. “The telephone companies have been evading tax. They make 3 million calls from outside, but declare only half of it and all the money is hidden.”  Noted the president.

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It all started in 2004. And 12 years later, MTN Kampala Marathon has lived not only to identify and promote talent of athletics but also give back to the community. MTN Kampala marathon is an annual athletics event, organised by MTN with support from other partners.

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The regulator may want to ask questions, has it been the same firm? Where were you all along? Loans do not just go bad overnight. Those are questions likely to be asked of the auditor. But it is not me to answer that question. It is for the auditors of Crane Bank over the years. Yes, you are justified to ask: Where is the quality in audits?

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One of the financial institutions; Crane Bank you aware of has for the past 10 years won many prestigious awards including African Banker of the Year issued from London. On 21st October, 2016, we woke up to news that Bank of Uganda had taken over management.

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Stanbic is not Uganda’s largest bank by luck. It is through continuous understanding of customer needs and investing in innovations that offer customer convenience and secure transactions.

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What are the three reasons that explain the low insurance penetration in Uganda? Justify

Lack of awareness of how insurance works and its benefits. By its nature, insurance products come packaged in legalese little understood by members of the public. As a result, insurance is generally difficult to sell more so being an intangible product.

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People want to do insurance on their own yet risk management is about passing the risk to another party to bear the costs. Summit Business met with Joseph Kiiza to discuss about the future of insurance

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Jubilee’s total gross premiums written in 2015 is higher than the combined gross premiums written off by AIG, Lion Assurance and Goldstar Insurance Company. Jubilee’s premiums exceeds combined top three competitors total premiums by Ugx4,693,130.

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Peace is not merely the absence of war. While Uganda is generally peaceful, the downward spiral of the shilling, a slowdown in economic activity and a general shut down in exports to South Sudan have created an economic war of sorts.

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Total assets of the pension sector assets hit Ugx6.5 trillion in 2015, up from Ugx5.2 trillion in 2014 according a report by the Uganda Retirements Benefits Regulatory Authority (URBRA); largely due to the National Social Security Fund (NSSF).

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Exchange rates; the Uganda shilling held steady averaging between UGX 3350-3410 per dollar in June. Over the past two quarters, the shilling has held ground against the major trading partner currencies, that is, the USD, Euro and Kenya Shilling. This steady hold of the shilling is attributed to the expensive credit which has continued to stifle private sector credit growth.

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If you want to succeed, you need to change your view. With technology, battles don't have to be harder. And the earlier you accept that, the better for you.

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The recent MTN Business training sponsored by MTN Uganda for entrepreneurs in Eastern Uganda was a huge success. The training attracted 152 entrepreneurs way beyond the intended 100 – indicating too much desire for knowledge by the business community in Eastern Uganda.

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As part of its business skills training programme, MTN Business has completed its first round of regional trainings with a session for SMEs in the Central region that took place at Kampala Sheraton Hotel on 18th July 2014. The programme, which has been running for the past three years, is intended to pass on relevant and practical business skills that will help Small and Medium Enterprises (SMEs) grow their businesses.

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