• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
Watchdog Uganda
No Result
View All Result

Absa Bank Uganda trains financial institutions compliance experts on ethics, conduct

Watchdog Uganda by Watchdog Uganda
2 years ago
in Business, Finance
1 0
Absa Bank Managing Director Mumba Kalifungwa

Absa Bank Managing Director Mumba Kalifungwa

ShareTweetSendShare

By Moses Oketa

Kampala: In a bid to equip the financial sector with practical knowledge on ethical framework and conduct in daily operations, Absa Bank Uganda has conducted a one-day training for sector compliance experts.

The event, officiated by the Bank of Uganda (BoU) Executive Director for SupervisionDr. TumubweineTwinemanzi, took place at Protea Hotel in Kampala under the theme ‘Building blocks of an ethics programme.’

In his address, he said that it is important that banks and other financial institutions give special attention to conduct risk if they are to address the upsurge in financial fraud in the post-COVID era.

He added that conduct risks should be treated separately from operational risks.

“I propose that as organisations, we need to begin looking at conduct risk as a separate risk category, track it separately, manage it separately, and have someone accountable at senior management for conduct risk,” he stated.

Tumubweine said that organisations stand to lose more if they do not take proactive actions on conduct risk, citing at 2008 Global Financial Crisis (GFC) which could have been addressed through conduct risk interventions.

“As an organisation, have you established the relationship between your conduct risk and the consequences of managing it or not managing it very well to your business strategy, your business model, and how you make decisions?

He added: “Conduct risk will show up on your balance sheet, either on topline or bottom line or most likely both. But all this is useless if you can’t figure out a way of embedding conduct risk awareness in the institution.”

The Absa Bank Managing Director Mumba Kalifungwa said that managing a good business is about more than just the numbers and making money, but how business is conducted, and choosing to do the right thing.

“Ethical leadership is a conscious decision that fosters the building of trust between employees and creates a strong sense of community and a workplace where respect, fairness, transparency, and accountability are valued and upheld by all employees. Those of us in positions of leadership have a responsibility to model moral behavior that sets the right tone throughout the organisation,” he stated.

Benefits of an effective ethical framework on an organisation, according to Kalifungwa include building a strong public image, guiding to refine moral perceptions, a greater commitment by employees and loyalty to the organisation, and fostering a sense of accountability among others.

“The customer of today is also more enlightened and watches closely how a business conducts itself before deciding to purchase products or services. An organisation that makes ethical decision-making a part of its everyday business will develop a strong public image and will be trusted. Customers tend to favour organisations known for ethical practices,” said.

He added that ethics have led to an improved society with the setting of standards that protect the vulnerable and this is good for the self but also good for all, and this has enabled the setting of standards in the workplace such as minimum wage, defined working hours, protection for children and expectant mothers and other such standards that create better working conditions and all-round improved society.

“The benefits of a comprehensive ethics framework cannot be overstated, and I hope that each one of us will leave here today empowered with knowledge of how we can make small but gradual steps towards making our organisations truly ethical.”


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
ShareTweetSendShare

Related Posts

Business

See #Paradise Island Resort: Sudhir’s Luxurious Eco-Retreat Island on Lake Victoria

6th July 2025 at 15:29
Business

CAN JOHN BOSCO MUWONGE CLAIM A SPOT AMONG AFRICA’S WEALTHIEST?

5th July 2025 at 18:09
Hon. Raphael Magyezi
Agriculture

Yara East Africa and Asili Agriculture Launch Agri-Hub in Kiryandongo to Advance Farmer Knowledge and Food Security in Uganda

4th July 2025 at 19:06
Next Post
Bwanika Joseph

Bwanika Joseph; Uganda our motherland has celebrated 61 years of it's sovereignty

  • Prostitution in Uganda- Courtesy Photo

    10 dangerous hotspots known for prostitutes in Kampala

    1115 shares
    Share 446 Tweet 279
  • Silent Billionaire Bosco Muwonge Buys Mukwano Arcade at UGX 250 Billion Cash Down

    41 shares
    Share 16 Tweet 10
  • LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

    2286 shares
    Share 914 Tweet 572
  • Uganda’s Billionaires 2025: Once Again Sudhir Ruparelia Leads a Resilient Pack

    45 shares
    Share 18 Tweet 11
  • LIST : Gov’t releases Revised Salary Structure for Teachers, Police, and Prisons Staff for FY 2024/2025

    121 shares
    Share 48 Tweet 30
Facebook Twitter

Contact Information

Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

Email: editorial@watchdoguganda.com
To Advertise:Click here

Latest News

Ann Ssebunya: Uganda’s Radio Personality and Mental Health Advocate Transforming Lives Through the Drugs Hapana Initiative

6th July 2025 at 23:58

President Museveni underscores need to develop Martyrs’ birth places into pilgrimage and religious tourism sites 

6th July 2025 at 19:55

Check out

  • Trending
  • Comments
  • Latest
Minister Muruli Mukasa

LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

24th May 2020 at 10:45
Pregnant woman

Shock as 17-year old boy impregnates his two sisters during Covid-19 lockdown 

17th June 2020 at 08:17
Sudhir Ruparelia is set to speak at business forum in United Kingdom

Billionaire Sudhir’s wisdom on how to invest in real estate

0

How a boy’s destiny turned from cotton grower to communications guru

0

Ann Ssebunya: Uganda’s Radio Personality and Mental Health Advocate Transforming Lives Through the Drugs Hapana Initiative

6th July 2025 at 23:58

President Museveni underscores need to develop Martyrs’ birth places into pilgrimage and religious tourism sites 

6th July 2025 at 19:55

© 2025 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News

© 2025 Watchdog Uganda