Tag Archives: bank of uganda

Kampala, Uganda | THE INDEPENDENT | A financial expert has praised Uganda’s currency stability, thanks to attractive interest rates on government securities and easy access of foreign currency. Eva Othieno Wanjiku, the Africa Strategist for Standard Chartered Bank, said they expected the Ugandan currency to lose more value in June …

Kampala, Uganda  | THE INDEPENDENT |  The International Monetary Fund-IMF has slashed Uganda’s growth projection from 6.3% to 6% this year, citing the country’s challenges to get oil out of the ground and government’s inability to do all budgeted activities.  After assessing the economy, the IMF said Uganda had challenges to …

Kampala, Uganda | THE INDEPENDENT | Dfcu bank remains the owner of the leasehold of the former Crane bank buildings it vacated, Bank of Uganda has said. The buildings, formerly hosting Crane bank branches but now being claimed by Meera Investments Limited, were taken over by Dfcu when it bought Crane …

Kampala, Uganda | THE INDEPENDENT | The Finance Committee of parliament has approved a request to recapitalize Bank of Uganda with Shillings 481 billion in the 2020/2021 financial year. This is part of the recommendations in the Committee report on the National Budget Framework Paper on votes in the finance …

Kampala, Uganda | THE INDEPENDENT  |  The Leader of Opposition in Parliament Betty Aol Ocan has questioned the continuous need to recapitalize Bank of Uganda saying that it could be a sign of financial indiscipline. The query is carried in her response to the National Budget Framework Paper for the coming …

Kampala, Uganda | THE INDEPENDENT | The Minister of State for Planning David Bahati says the Petroleum Fund has shillings 70 billion. This is contrary to what he told the parliamentary finance committee last week that the fund had been depleted. Appearing before the budget committee on Tuesday, Bahati backtracked, saying …

Kampala, Uganda | THE INDEPENDENT  | The Auditor-General John Muwanga has queried the absence of a Petroleum Investment Framework to guide investment of funds under the Petroleum Revenue Investment Reserve in Bank of Uganda. While presenting his audit report for the year ended December 2019 to Speaker of Parliament Rebecca …

Kampala, Uganda | THE INDEPENDENT  | Parliament’s Finance Committee has summoned the Bank of Uganda Governor Emmanuel Tumusiime Mutebile to explain the continued recapitalization of the institution. This follows a fresh request by the Ministry of Finance to recapitalize the Central Bank with Shillings 481.7 billion Shillings in the coming financial …

Kampala, Uganda | THE INDEPENDENT | Several Bank of Uganda staff expect the contract of the Deputy Governor Dr Louis Kasekende to be renewed in the coming days. Dr Kasekende’s contract will expire on 18 January 2020, completing a decade in the same position and making him the longest-serving deputy …

Kampala, Uganda | THE INDEPENDENT  | Bank of Uganda has warned the public against writing on currency notes, highlighting that the practice is illegal and could land them to prison. The warning follows various images circulating on social media with political messages reading “vote Bobi Wine 2021” and “Vote Museveni …