The second wave of the pandemic pose downside risks to credit growth Kampala, Uganda | JULIUS BUSINGE | Banks have recently received more loan applications and extended more credit to borrowers amidst the coronavirus pandemic. This is good for jumpstarting the economy that has been hit by COVID-19 lockdowns. Till …
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Kampala, Uganda | THE INDEPENDENT | Mobile Money services have now been completely detached from the regulation of the Uganda Communications Commission to that of the Bank of Uganda (BOU), amidst questions and fears from the customers. Last month, the Bank of Uganda started implementing the National Payments System Act …
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Can Mutebile’s latest announcement and government spending plan save the economy hurt by coronavirus lockdowns? | JULIUS BUSINGE | On June 16, Bank of Uganda Governor, Emmanuel T. Mutebile made a big announcement that many pundits believed would boost economic recovery. For the first time in many months, Mutebile cut …
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Several potential vulnerabilities remain related to the pace of the economic recovery and its effect on the income and loan repayment capacity of firms and households Kampala, Uganda | ISAAC KHISA | Uganda’s commercial banks recorded the third drop in full year profits in 10 years weighed down by increased …
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The partnership will enable customers borrow mobile loans for as low as Shs300 and earn interest on savings for as high 9%, respectively Kampala, Uganda | ISAAC KHISA | Telecom operator, Airtel Uganda, has appointed KCB Uganda as a trust account holder for its mobile financial services Airtel Money in …
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Cost of sending money to Uganda remains high at 8.7%, double the (SDG) target Kampala, Uganda | RONALD MUSOKE | The COVID-19 pandemic that has ravaged the world over the last 18 months has cut by 26% the amount of money Ugandan migrant workers sent back home over the same …
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Telecom firm, Airtel Uganda, could soon start investing customers’ savings in the government’s treasury bills and bonds upon receiving a license from Bank of Uganda in fulfillment of the National Payment Systems (NPS) Act, 2020. Kampala, Uganda | ISAAC KHISA | Manoj Murali, the Airtel Uganda managing director, said the …
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Kampala, Uganda | THE INDEPENDENT | Starting June 1st, Ugandans will have mobile money transactions run by companies separate from the traditional telecoms that have been operating the business. This follows the licensing of three companies to operate mobile money services in Uganda including MTN Mobile Money Uganda Ltd and Airtel Mobile …
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Banking executives expect the industry to rebound citing projected growth in the economy Kampala, Uganda | ISAAC KHISA | 2020 was a tough year in almost all fronts: public health, production, new orders, employment, and demand, among others. The once growing economy contracted and interest rates took a deep …
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Stanbic continues to support clients as the economy recovers Kampala, Uganda | THE INDEPENDENT | Stanbic Bank Uganda (SBU) has paid out a total of Sh110 billion to its shareholders for financial year 2019, continuing a long track record of returning consistently positive earnings despite prevailing challenges. At the peak of …
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