Rystar News

CORPORATE BOSS: Meet Guy Lutaaya Absa Uganda’s newly appointed Chief Risk Officer Guy Kimbowa Lutaaya is the newly appointed Chief Risk Officer (CRO) at Absa Bank Uganda Limited with effective from 1st October 2022. Lutaaya is a seasoned finance professional and banker, with over 20 years of work experience in finance and he also boasts of over 13 years of banking experience. In his new role, he will be responsible for leadership and oversight over the Bank-wide Enterprise Risk Management Framework. Before this appointment, he has been the Credit Director at Absa Bank Uganda, a role he has held for five years. He has also served as Head of Retail and Business Banking Credit at Absa Bank Kenya and held various roles at Absa Bank Uganda, including Head of Impairments, Analytics and Models and Head of Credit Policy and Portfolio Management. Prior to joining Absa Uganda (formerly Barclays) in 2010, Lutaaya worked for Dell Incorporated at their corporate headquarters in Round Rock, Texa...

Visa  credit cards provide cardholders with convenience and security and can be used at merchants and automated teller machines (ATMs) around the world. The account number and cardholder's name are embossed or printed on the front of a Visa card. The card also has a special three-digit validation code on the back. Due to that  Xente  a financial technology platform in Uganda that offers business payments solutions partnered with Visa, the global leader in digital payments to issue virtual and physical Visa business cards across businesses by enabling them to make payments to online and offline vendors, disburse money, and manage business expenses. According to  Allan Rwakatungu  Xente's Founder and CEO, this card is the first one from a Fintech company in East & Central Africa that is to help finance and accounting teams manage this complexity in a one-stop platform. He said they will save companies a lot of money and countless person-hours with the use ...

By Ruth Kiconco With effect from September 2022, MTN’s Mobile Money customers have begun reaping the financial benefits following the separation of the MoMo section from the telecommunication wing of the business.   As a result, MTN Mobile Money is now paying its loyal customers an astounding UGX 5.7 billion interest pay-out for the second quarter of the year which ended on 30 th June 2022. MTN Mobile Money Uganda Limited was separated from its parent company, MTN Uganda, in May of 2021 (last year) pursuant to the National Payment Systems (NPS) Act, 2020. Richard Yego (Left) signs the dummy cheque of the total amount of money to be paid out as interest to the active Mobile Money (MoMo) customers (PHOTO/Courtesy)   Section 49(6) of the National Payments Systems Act (NPS) of 2020 and Regulation 14 of the National Payment System regulations of 2021 stipulates that MTN Mobile Money Uganda pays its customers, interest earned on a Trust Account. The ongoing payout by MTN Mob...