Tag Archives: BOU

Bank of Uganda should utilize its mandate to regulate spending during 2021 electoral processes COMMENT | Fred Kasalirwe | The recently concluded National Resistance Movement (NRM) primaries have seen massive monetization of the electoral processes with huge sums of money seen exchanging hands to influence voters’ decisions. If this is just …

The lender recorded a 4.9% drop in net profit to Shs127.4billion Kampala, Uganda | ISAAC KHISA | Stanbic Bank has suffered a 4.9% drop in pre-tax profit in the first half of the year as credit impairment charge and coronavirus disruption takes toll on the country’s largest commercial lender. The …

Bank of Uganda is optimistic the economy will recover amidst challenges Kampala, Uganda | JULIUS BUSINGE | Can Uganda’s economy recover at a much needed speed amidst threats posed by COVID-19? This is the question that the Bank of Uganda technical managers seem to be pondering with as they keep …

Kampala, Uganda | THE INDEPENDENT | Ugandans have stashed record amounts of cash in banks, an indicator Ugandans feared to spend their money with the coronavirus uncertainty still hovering around. Bank of Uganda data shows that in May 2020, the amount of money Ugandans have in banks as term deposits reached …

  THE LAST WORD | Andrew M. Mwenda | Last week, Bank of Uganda (BOU) issued a press statement in which it promised to appeal a ruling by the Court of Appeal in a case against businessman Sudhir Ruparelia over Crane Bank. Yet the statement did not deal with the …

Central bank’s move could reduce the industry’s profitability | THE INDEPENDENT | Uganda’s central bank has threatened to cap interest that commercial banks can charge borrowers following the industry’s failure to lower interest rates in response to the cuts in the Central Bank Rate, according to its governor, Emmanuel Tumusiime-Mutebile. …

The decision follows BoU’s directive to support cash flow in the economy Kampala, Uganda | ISAAC KHISA | Stanbic Uganda Holdings Ltd (SUHL) has cancelled its proposed dividend payout of Shs 5.06 per share or a total of Shs110bn to its shareholders, citing central bank’s decision to decline to the …

Kampala, Uganda | THE INDEPENDENT | The government seeks to save at least USD 48 million (178.5 billion Shillings) used to print money every year by encouraging Ugandans to use digital platforms instead of cash in their transactions. Dr Adam Mugume, the acting deputy governor at Bank of Uganda said …

What international money lenders fear most about 2021 Kampala, Uganda | THE INDEPENDENT | Increased government spending and borrowing as President Yoweri Museveni seeks re-election could destabilise the economy in FY2020/21. That is the view of the latest report by the international credit rating agency, Fitch. It is backed by …

Kampala, Uganda | THE INDEPENDENT | Sudhir Ruparelia and Meera Investments Limited’s lawyers have responded to a statement from Bank of Uganda that gave reasons why they intend to go to the Supreme Court after they lost a recent appeal. Uganda’s central bank is facing huge costs after losing court …