Tag Archives: mutebile

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 | Commercial banks approved more money in May compared to April with manufacturers receiving the biggest chunk of the loans than any other the sector, the Ministry of Finance has said in the performance of the economy report for June 2020. According to the report, …

  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. …

  But commercial lawyers argue that the central bank is simply cleaning its face and that the law is not on its side Kampala, Uganda | JULIUS BUSINGE | The legal battle between Bank of Uganda and Sudhir Ruparellia over the defunct Crane Bank Limited is intensifying. They are headed …

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 | Bank of Uganda has further cut growth forecasts to just over 2 percent an indicator that the impact of coronavirus disease on the economy is deeper than earlier thought. In the June monetary policy statement issued on Monday,  the central bank said that the …

  Analysts say the proposed budget should focus on key sectors that support revamping the economy Kampala, Uganda | ISAAC KHISA AND JULIUS BUSINGE | Over the past six weeks, Uganda has been in a total lockdown. Shops, except pharmacies and agro vets, had been shut. Transport paralysed. Hotels switched …

Coronavirus catastrophe: How it could plunge Uganda’s economy into crisis Kampala, Uganda | PATRICIA AKANKWATSA & AGENCIES | On a normal day, the Kikuubo trading hub in downtown Kampala buzzes as thousands of traders and customers with wads of cash haggle over prices of all kinds of merchandise, most of which …

But government needs to focus beyond fighting locusts and coronavirus Kampala,Uganda | JULIUS BUSINGE | Uganda’s economy is expected to remain strong supported by an accommodative monetary policy and the resultant growth in the private sector credit, latest data from Bank of Uganda shows. The data contained in the February …