Kampala, Uganda | THE INDEPENDENT | The Government is satisfied with the performance of the Bank of Uganda under the leadership of the Deputy Governor Michael Atingi-Ego, finance minister Matia Kasaija has said. Kasaija, in an interview with Uganda Radio Network, says Atingi-Ego is doing “a fantastic job” and that there’s …
Read More »Dfcu, DTB deliver solid H1 profits, but uncertainty remains
BoU raised policy rate for a third straight time in a row signaling boost to interest rates | THE INDEPENDENT | Dfcu and DTB have recorded a surprise profit for the first six months of the year but the uncertainty remains ahead due to the prevailing tough economic times. Dfcu …
Read More »Public debt: CSOs urges on transparency, accountability
They want government to create centralized data system on debt | THE INDEPENDENT | Uganda government should enhance transparency during the acquisition of loans so as to improve accountability for the acquired loans according to civil society organizations. Jane Nalunga, the executive director SEATINI Uganda, Patrick Tumwebaze, the executive director, …
Read More »BOU tightens interest rates as cost of living worsens
Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has raised the Central Bank Rate, the rate the regulator uses to control the cost of money from the banking industry, to 9 percent from 8.5 percent, at which it has been for only five weeks. The frequent Monetary Policy …
Read More »BOU gives green light to more financial payment solutions
Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda (BoU) has licensed two more financial solutions under the Sandbox regulatory framework, as it implements laws aimed at promoting financial inclusion and safety. A regulatory sandbox is a framework set up by a financial sector regulator to allow small-scale, live …
Read More »Banks to unveil Shs1tn export credit facility
It will boost manufacturing and bridge the funding gap to the sector that holds great potential for Uganda’s growth Kampala, Uganda | THE INDEPENDENT | Uganda’s commercial banks are planning to provide Shs1trillion in export credit facility to help local manufacturers boost their access to the regional markets. Sarah Arapta, …
Read More »Tough times as BoU moves to restrict money in circulation
Experts back the move but say, the poor will be hit hardest Kampala, Uganda | JULIUS BUSINGE | On July 6, Bank of Uganda held an emergency monetary policy committee meeting and decided to increase the central bank rate (CBR) by one percentage point to 8.5%, the highest since the …
Read More »INFLATION: Experts question new BOU measures
Kampala, Uganda | THE INDEPENDENT | Experts have voiced contrasting views on how the Bank of Uganda is using its policies to control rising inflation. Many argue that the measures could hurt the economy more, at least in the short run. The Central Bank on Tuesday raised its base interest …
Read More »INFLATION: BOU raises CBR to 8.5 percent
Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has decided to raise the Central Bank Rate by a percentage point to 8.5 percent as part of emergency measures against the spiraling inflation. This was decided at Tuesday’s emergency Monetary Policy Committee meeting called by the Central Bank Deputy Governor, Michael …
Read More »Savings groups decry multiple microfinance regulations
Bushenyi, Uganda | THE INDEPENDENT | Savings and Cooperative organizations have expressed concern over multiple regulations. The savings and cooperative Organizations currently are regulated by the registrar of Cooperatives, Uganda Microfinance Regulatory Authority, and Bank of Uganda. Speaking at the International Cooperative Day in Sheema Municipality on Saturday, John Njoki …
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