By Julius Businge Standard Chartered Bank, Uganda’s second biggest commercial bank by assets and market share, has defended the commercial banking sector’s decision not to aggressively lower lending rates. The bank’s Regional Head of Research, Razia Khan, said in a statement sent to The Independent that although Uganda has witnessed …
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By Julius Businge The Kampala City Traders Association is calling for further reductions in interest rates by commercial banks to enable them access cheap credit to run business. In an interview with The Independent Everest Kayondo, the association’s chairman said commercial banks were quick at raising interest rates when the …
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By Julius Businge The Uganda shilling weakened in the week against the dollar testing 2510/20 midweek on the back of global risk aversion. Denis Mashanyu, a forex trader at Standard Chartered Bank said the local unit later recovered to settle in the same region it had opened of 2470/80. The recovery …
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By Mubatsi Asinja Habati & Julius Businge Prices go up but experts say she is barking the wrong tree On a busier day Bashir Mutebi, a timber dealer, would be negotiating deals to sell timber to Sudanese and Kenyan traders, and retailing to dealers in Kampala. Usually, he would sell …
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By Julius Businge The Assistant Commissioner for petroleum exploration and production in the ministry of Energy Robert Kasande says the refinery to process Uganda’s crude oil will be ready in three years after government completing a feasibility study regarding its size, products and costs of the facility. The official made …
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By Julius Businge So what if Mutebile reduces bank rate but lending rates stay up? The recent strike of traders against banks over high lending rates put Esther Nakitende in a tight spot. The clothes seller on William Street in downtown Kampala city followed instructions from the Kampala City Traders …
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By Julius Businge Immigration mulls innovations to tackle delays, forgery Usually, the ministry of Internal Affairs at Plot 75 on Jinja Road in Kampala has a huge crowd of people either seating or standing in a tent or merely moving about restlessly. Usually, they look distraught and desperate. Usually, they …
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By Julius Businge Bank of Uganda to introduce consumer protection mechanism What would make you borrow Shs 500,000 from a money lender at an interest rate between 15% and 30% per month? Many reasons but at the heart of each is on common feature; desperation – you want money badly. …
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The Independent Uganda: You get the Truth we Pay the Price
