Museveni appoints team to tame defiant Muloni, Kabagambe On Aug.9 the Ministry of Energy headquarters at Amber House in Kampala was a bee-hive of activity. Representatives from power generator, UEGCL, the Finance Ministry, the Attorney General, Electricity sector regulator, and ERA converged there for an important meeting. The meeting was …
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VIDEO: A section of tycoons mentioned among the bailout beneficiaries have admitted having financed part of the campaign activities of the ruling National Resistance Movement in the February general elections. The tycoons led by the Chairman Uganda Manufactures Association, Amos Nzeeyi however say their decision to support the ruling party …
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Uganda is one of the top performers in financial inclusion, according to the US-based Brookings Finance and Digital Inclusion Project (FDIP). Uganda was ranked 5th among the 26 countries surveyed with the success being attributed to a strong level of mobile money adoption and the amendment of the Financial Institutions …
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What anniversary year says about the state of the monetary policy signal COMMENT: Geoffrey A Onegi-Obel The Bank of Uganda on August 2 and 3 capped a series of celebratory Golden Jubilee activities with the annual Joseph Mubiru Memorial Lecture and an Anniversary Day with President Yoweri Museveni as the …
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Bank of Uganda Monday reduced the Central Bank Rate (CBR) by I percentage point to 14 percent. CBR is the rate of interest which a central bank charges on the loans and advances to a commercial bank. BOU governor Tumusiime Mutebile said that because inflation is forecast to stabilize around the policy target of …
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Having been appointed in October 2014 to replace the long-serving Allen Kagina as commissioner general of the Uganda Revenue Authority (URA), Doris Akol started her tenure on a rather good note. At the presentation of her very first annual revenue performance report in July last year, she was all smiles …
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On March 31 2016, the total value of all loans in Uganda’s commercial banking industry was Shs21.7 trillion of which Shs528 billion were non-performing loans (or “bad loans”) i.e. 2.64% of the total. Under the effective oversight of Bank of Uganda, especially its director for supervision; Justine Bagyenda (known in …
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COMMENT: Nimrod Muhumuza After years of touting of Uganda’s positive economic growth in flowery language, citing growth in the manufacturing and real estate sector, and reduced poverty and inflation statistics, it is now emerging that the government is contemplating forking out over Shs1 trillion to relieve over 100 companies facing …
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NBS: Some commercial banks have recalled the loan facilities previously extended to a number of companies and individuals over concerns that they may be on their to bankruptcy. This comes as the heels of media reports of a possible bail out for some key businessmen reportedly chocking on credit facilities. …
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Gen. Saleh now running Museveni’s government On July 21, a group of Kampala traders met at Serene Suites, a boutique hotel of two boxlike four-story blocks on top of Mutundwe Hill on the edges of the city that has become a sort of headquarters for the financially-distressed business people. The …
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The Independent Uganda: You get the Truth we Pay the Price